Kotak Life Insurance is one of the exponentially growing insurance firms in the country and their ULIPs are set to fulfil every investor’s unique requirements. The best practices make sure that a person receives proper help at the time of dodging risks and uncertainties of life. Through Kotak Life ULIP Plans, you can give a boost to wealth generation and also take a little risk in the volatile market for securing the post-retirement phase.
Of course, mutual funds and unit-linked insurance policies appear to have the same structure and both fulfil different financial goals. Contrasting from the mutual funds, the ULIPs offered by Kotak life insurance enticing tax benefits on the investment up to Rs.1.5 lacs. In addition, the unit-linked insurance plans provide the flexible investment options and the independence of switching funds at a marginal or zero cost. The flexible payment period is another cherry on the cake for the investors because the plans can meet your convenience level and ensure a high level of financial security.
The unit-linked insurance plans of Kotak Life present various investment fund option along with the distinct risk-return profile. As the funds have certain limitations on the debt and equity amount, the exposure is allowed. Following the fund performance over the months, you can switch the funds. The charge of fund switches is free up to a specific limit and then you will have to pay a minimal cost.
Among various life ULIPs, the company has made sure that your child’s education expense is covered. Upon the policyholder’s demise, the beneficiary can be protected from the inflation and rising costs in the market. In equity, the unit-linked insurance plans offer solid opportunity to gain market-related returns while saving your child or family’s future.
Kotak Platinum
Instead of offering liquidity in the first 5 years of the plan, the combination of investment and insurance product of Kotak Life ULIP Plans fulfils your requirements. If you want to take a risk with investment in your 30s, you can choose a policy term of 20 years with a yearly premium of Rs. 5,00,000. The sum assured will be Rs.50,00,000 for having a worry-free retirement.
Features and Benefits
Kotak Ace Investment
Paving the path for generating wealth creation, this type of Kotak Life ULIP Plans also provides financial security and independence to the policyholder and his/her family. With the yearly premium of Rs.50,000 and payment term of 20 years, the sum assured becomes Rs.5,00,00.
Features and Benefits
Kotak Invest Maxima
Differing from other Kotak Life ULIP plans, the linked insurance product values every portion of the financial investment. The systematic entry in the equity market cushions against the volatile market.
Features and Benefits
Kotak Headstart Child Assure
It is one of the effective Kotak Life ULIP Plans which aids a child in achieving dreams and goals after losing his/her parents. The ULIP allows the investor to create corpus systematically. Therefore, the child’s education expense is covered through this unit-linked insurance plan.
Features and Benefits
Kotak Wealth Insurance
In order to prepare your future from financial securities, the Kotak Life ULIP Plans ensure high investment growth. If you pay a premium of Rs.50, 000 for the policy term of 20 years, the sum assured will be Rs.12, 50, 000.
Features and Benefits
Kotak Single Invest Plus
To secure the bright future of your family, this type of Kotak Life ULIP Plans excel at its best. The hassle-free premium option guarantees high benefit throughout the policy term. Along with the right amount of protection, the loyalty additions justify your investment option.
Features and Benefits
Kotak Single Invest Advantage
Another single-premium plan from the bag of Kotak Life ULIP Plans, this one ensures high benefits. The solid investment strategies mingle with the easy liquidity for adhering to your investment objective.
Features and Benefits
Kotak Life ULIP Plans guarantee a financial protection and find a way to increase market returns. The plans have the potential to save your life after retirement and a crucial milestone in life. Catering to multiple needs of the investor, the investor can choose the right annuity (deferred or immediate) according to the requirements.
Take a look at the following table (updated on 13.11.18) to make an informed decision.
| ULIP | Net Asset Value (Rs Unit) | % Chg | % Chg |
|---|---|---|---|
| Kotak Headstart Child Plans (Dynamic Balanced) | 63.07500 | 0.27 | 0.44 |
| Kotak Headstart Child Plans (Dynamic Growth) | 74.43510 | 0.45 | 0.60 |
| Kotak Invest Maxima (Dynamic Floor Fund) | 27.60850 | 0.08 | 0.31 |
| Kotak Single Invest (Classic Opportunities Fund) | 26.23800 | 0.19 | 0.72 |
| Kotak Ace (Classic Opportunities Fund) | 26.23800 | 0.19 | 0.72 |
Documents Required
Eligibility Details
| ULIP | Entry Age | Maturity Age | Policy Term | Premium Amount | Premium Payment Frequency | Premium Payment Term |
|---|---|---|---|---|---|---|
| Kotak Platinum | 0-65 years | 18-75 years | 10-30 years | Rs. 99,000-no limit | Equal to policy term, 5 or 10 years | Monthly, quarterly, half-yearly and yearly |
| Kotak Ace Investment | 0-65 years | 18-75 years | 10-30 years | Regular: Rs. 30,000-no limit Limited: Rs. 50,000-no limit | Equal to policy term, 5 or 10 years | Monthly, quarterly, half-yearly and yearly |
| Kotak Invest Maxima | 0-65 years | 10-75 years | 10-30 years | Regular: Rs. 50,000- Rs. 1 lac Limited: Rs. 75,000-Rs. Single: 1 lac- 2.5 lacs | Equal to policy term or five years | Annually |
| Kotak Headstart Child Assure | 0-65 years | 10-75 years | Regular: 10,15,20,25 and 30 years Limited: 10,15,20,25 and 30 years Single: 10 years | Regular: Rs. 50,000-1,00,000 Limited: Rs. 75,000-1,00,000 Single: Rs. 1,00,000-2,50,000 | Same as policy term or 5 years | Single or annually |
| Kotak Wealth Insurance | 0-65 years | 18 years-65 years | 10 years-30 years | Regular: Rs. 20,000-no limit Limited: Rs. 50,000-no limit | Same as policy term or 5 or 10 years | Annually |
| Kotak Single Invest Plus | Primary: 18 years-55 years Secondary: 3 years-55 years | Primary: 28 years-67 years Secondary: 18 years-67 years | 10 years and 15 years | Rs. 3 lacs-no limit | - | Single |
| Kotak Single Invest Advantage | 10 year term: 8 years-45 years 15-year term: 3 years-53 years | 10-year term: 18 years-55 years 15-year term: 18 years-58 years | 10 years and 15 years | Rs. 3 lacs-no limit | - | Single |
What should I do if I want to change my premium paying?
You need to register a service request on the e-portal for changing the premium payment or its frequency.
Why you should opt for Kotak Wealth Insurance?
If you wish to save your family from the uncertainties of life, Kotak Wealth Insurance is the one. The high investment growth fulfils the family goals and aids you in handling the unplanned events. You can get lump sum benefit, fund value plus and 100% of basic sum assured. It guarantees triple protection to stand strong against eventualities.
How to pay a premium? Modes of payment available?
13 modes of premium payment:
How can I check policy status for Kotak Life ULIP Plans?
The online portal of Kotak lets the users get themselves registered. You can find an option regarding policy details there.
What is the policy renewal process for Kotak Life ULIP Plans?
Online process:
Offline process: Visit the nearest Kotak branch to deposit the cash or cheque.
What is the company’s process to settle claim for Kotak Life ULIP Plans?
The nominee needs to pay a visit to the Kotak branch with policy document along with death or accident certificate. The claim intimation form must be duly filled and the nominee can receive the reference number. Without further investigation, the claim is cleared in a month usually.
What is the policy cancellation process for Kotak Life ULIP Plans?
If you wish to cancel your Kotak Life ULIP Plan, all you need to do is submit the policy document and the surrender form duly filled and signed in any nearest Kotak Life branches. Within 7 working days, the refund would be processed and credited to your bank account, post which your policy stands cancelled.
How does Kotak Life ULIP Plans work?
A part of the investor’s investment goes into the shares and the rest of the amount works as insurance cover. The fund managers of Kotak handle the investments and provide a detailed report on the fund performance. Also, the investor can switch the funds between equity and debt according to the risk appetite.
What is Kotak Life ULIP Plans in India?
Kotak Life ULIP Plans provide security to avert the financial risks in life, whether it is to meet a child’s education expense or lead a safe life after retirement. There are top 7 unit-linked insurance plans which are the mixture of capital market-linked gains and insurance coverage.
