The main problem with these plans is their lack of flexibility if you want to keep your insurance cover.
In other words if you want to get out of the SIP you lose the insurance benefit. However in this regard, the Birla SIP is better than the other two plans. You only have to make your payments for three years after which the insurance cover continues even if you stop paying into the plan.
With the other two plans by Reliance and Kotak you need to make continuous payments throughout the tenure of the SIP to maintain insurance cover.
There are also differences when it comes to the tenure of the plans. With Birla you can have a tenure from 3-37 years, with Reliance from 3-15 years and with Kotak you get a choice of 5, 10, 15 and 20 years.
Also read: What you should do in today's market
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