How to get free life cover with mutual fund SIP Keerthi Sanagasetti BL Research Bureau | Updated on April 24, 2021 SIP insurance comes with strings attached and one should understand them before signing up The ongoing pandemic and the associated economic hardships serve yet another grim reminder of the importance of regular investments and adequate protection during uncertain times. Combining these two principles of financial planning, mutual fund houses are offering Systematic Investment Plans (SIPs) with insurance. While your regular SIPs take care of your future finances, the insurance cover bundled free of cost with it also protects your near and dear ones in case of your unfortunate death. ICICI Prudential MF’s SIP Plus, Nippon India MF’s SIP Insure and Aditya Birla Sunlife’s (ABSL) Century SIP are examples of such SIP with insurance products. That said, this insurance, though offered without any medical tests, comes with a many conditions attached, akin to other insurance products in general. Here we try to elaborate on a few of them.