Group insurance

Tata AIG Life Insurance Company Ltd will offer insurance solutions to customers of Family Credit Ltd, the consumer finance arm of Societe Generale Consumer Finance in the country. Tata AIG Life will provide personal loan insurance — a group insurance package — for customers of Family Credit Ltd. Personal Loan Insurance will provide cover against death of the personal loan borrower, except for suicide. The plan waives medical tests up to a maximum loan amount of Rs 5 lakh and till the age of 55 years of the borrower.

Fully loaded

JM Financial Mutual Fund has revised the load structure for its Multi Strategy Fund with effect from July 31. All investments less than Rs 2 crore will now on attract an entry load of 2.25 entry load and an exit load of 1 per cent if redeemed within one year of purchase. Investments greater than or equal to Rs 2 crore will attract an exit load of 0.5 per cent if redeemed within 3 months, but there will be no entry load.

New offering

Franklin Templeton Mutual Fund has filed a proposal with Sebi to launch a fund of funds that will invest mainly in overseas mutual fund units that invest in companies in West Asia and North African countries. The fund will be benchmarked against the MSCI Arabia Index.