Compare Kotak Mahindra Investment Plans

1. Kotak Platinum

Features:

• A Unit-Linked Life Insurance Plan with low charges
• Owing to low premium allocation charges, you can tap maximum returns on your investments over the policy term
• Take your pick from three investment strategies – Self Managed, Age-based, & Systematic Switching
1. Self Managed Strategy: This enables you to manage & control your investments the way you desire by parking the money in your preferred funds. There are as many as 7 funds to choose from, with each of them having different risk profiles, so that you can make your choice according to your risk bearing capacity and financial goals.

Classic Opportunities Fund: Offers long term capital growth by investing in large & medium sized company equities 

Frontline Equity Fund: High level of capital growth by parking the funds in large sized company equities

Balanced Fund: Maintains a balance by investing in equities as well as fixed interest instruments

Dynamic Bond Fund: Preserves the capital by investing in high quality corporate bonds

Dynamic Floating Rate Fund: Invests funds in floating rate debt instruments

Dynamic Gilt Fund: Safeguards the capital by investing in Government Securities

Money Market Fund: The most secure fund of the lot, wherein all the funds are parked in the money market

2. Age-based Strategy: On choosing this option, your investments are allocated in the Classic Opportunities Fund and Dynamic Bond Fund, on the basis of your age and risk appetite. Further, on a monthly basis, the units are rebalanced to maintain the necessary proportions of the identified funds in the Fund Value. Again, when only 12 policy months are left for Policy Maturity, the total funds are transferred to the Money Market Fund to ensure stability of the profits earned and avoidance of capital erosion.
3. Systematic Switching Strategy: This strategy enables you to participate in the volatile equity markets, but in a systematic fashion, by letting you park all or some part of the investment in Money Market Fund, followed by transfer of a pre-defined amount every month into, either the Classic Opportunities Fund or Frontline Equity Fund. This is executed by redeeming the required number of units from Money Market Fund at the applicable unit value, and then, allocating new units in the Classic Opportunities Fund or Frontline Equity Fund at the applicable unit value. The transfer is executed automatically at the beginning of the policy month, including at the time of policy inception.
• Enjoy the perks of Survival Units and watch your corpus grow
• Pay premiums for 5 years and avail life coverage for 10 years, or pay for 10 years and avail protection from 15 to 30 years
• Pick the premium payment frequency which best suits your financial status - yearly, half-yearly, quarterly, or monthly
• Option to receive the maturity benefit either in lump sum at one go or in installments through Settlement Option
• Pay a marginal cost to avail the benefits of enhanced protection through Riders
• Liberty to make partial withdrawals from your fund, (provided 5 policy years have lapsed) to support your emergency requirements, with the minimum withdrawal amount being Rs.10,000
• Facility to switch between fund options to maximize returns
• Liberty to re-direct future premium allocation to change the investment pattern as per your financial goals & needs
• Flexibility to alter your Basic Sum Assured on policy anniversaries, and that too without any change in premium, so as to keep it relevant with the different phases of your life, subject to limits and underwriting
• Provision for increasing your investment whenever you have excess money
• Enjoy income tax benefits on premium payments & benefits received

Benefits:

Survival Units: By staying invested over a long term horizon, you become eligible to receive Survival Units, which are added to your Fund Value after every 5 years, starting from the end of the 10th policy year, provided the policy is in force. These Survival Units are equivalent to 2% of the average Fund Value in the Main Account in the immediately preceding three years.
Maturity Benefit: Under this plan, the Maturity Benefit is computed as
Fund Value including Survival Units + Fund Value in Top-Up Account(s), if any.
At the end of the policy term, you have two options to avail the Maturity Benefit. You can either exercise your option to take the entire Fund Value as a lump sum, or you can choose the Settlement Option, whereby the maturity proceeds are given out in pre-selected periodic installments (yearly, half-yearly and quarterly only). The policyholder has a further option to select between taking the entire proceeds as equated periodic installments, or taking 50% of the proceeds as a lump sum, with the remaining 50% as periodic installments.
Death Benefit: In the unfortunate event of your death during the policy term, your nominee is entitled to receive the Death benefit, which is computed as the highest of:

1. Basic Sum Assured less applicable partial withdrawal from Main Account (if any)
2. 105% of the Premiums paid till the time of death
3. Fund Value in the Main Account

Plus
For Top-Up Premiums paid, the highest of

1. Top-Up Sum Assured
2. 105% of the Premiums paid till the time of death
3. Fund Value in the Top-Up Account, if any

• Kotak Accidental Death Benefit Rider (Linked): This Rider entitles your nominee to receive an additional death benefit, over and above the benefit available under the base plan, in case of your unfortunate demise due to an accident.
• Kotak Permanent Disability Benefit Rider (Linked): In the event of Total & Permanent disability of the life insured occurring as a result of an accident, the Rider Sum Assured is payable to the life insured, and the policy continues as is.

Kotak Single Invest Advantage

Features:

• A Single Premium Unit Linked Life Insurance Plan
• Provision of making only a one-time payment
• Enjoy Loyalty Additions for being invested in the policy for a long period of time
• Option to choose from 3 Investment Strategies as per your investment appetite, risk-taking capacity, and financial goals -  Self Managed, Age-based, & Systematic Switching
1. Self Managed Strategy: Manage and control your funds on your own. Choose to park your investments in the Aggressive funds (Classic Opportunities Fund, Frontline Equity Fund), Moderate funds, (Balanced Fund), Conservative funds (Dynamic Bond Fund, Dynamic Floating Rate Fund, Dynamic Gilt Fund), or Secure Funds (Money Market Fund)
2. Age-based Strategy: Based on your age and risk appetite, the funds are initially invested in the Classic Opportunities Fund and Dynamic Bond Fund, followed by monthly rebalancing of the units. Just 12 months before Policy Maturity, the total funds are transferred to the Money Market Fund to ensure that the volatility in returns flattens out.
3. Systematic Switching Strategy: Initially, the funds are invested in the Money Market Fund, followed by transfer of a pre-defined amount every month into the aggressive funds, either the Classic Opportunities Fund or Frontline Equity Fund.
• Liberty to move investments from one fund to another
• Facility of making 12 free switches between funds under Self-Managed Strategy
• Provision of switching between Self-Managed Strategy and Age Based Strategy
• Liberty to withdraw money after 6th policy year to meet interim emergencies, subject to a minimum withdrawal of Rs.5000, and provided premium of five years have been paid in full
• Enjoy income tax benefits on premium payments & proceeds

Benefits:

Loyalty Additions: When you stay invested for a long time, you get entitled to receive loyalty additions every 5 years, starting from the end of the 10th policy year, subject to the policy being active. These Loyalty Additions are expressed as a percentage of the average Fund Value in the immediately preceding three years.

Death Benefit: In case of death of the Life Insured during the policy term, the nominee receives the Death Benefit in a lump sum, which is computed as the highest of the following:

1. Basic Sum Assured less partial withdrawals, if any
2. Fund Value in Main Account including Loyalty Additions, if any
3. 105% of the premiums paid up to the time of death

Maturity Benefit: Upon survival at policy maturity, the insured is entitled to receive the Fund Value including Loyalty Additions. He/she may take the Maturity proceeds either in lump sum or as per the Settlement Option, which provides the flexibility of taking the maturity proceeds in the form of pre-selected periodic instalments (yearly, half-yearly and quarterly only) over a period of five years. The policyholder may choose any of the two Settlement Options:

1. 50% of the maturity proceeds as a lump sum and remaining 50% as periodic instalments  
2. The entire maturity proceeds as equated periodic instalments

3. Kotak Ace Investment

Features:

• A Unit-Linked Life Insurance Plan
• Make your choice between 3 investment strategies –
  

  Self-Managed Strategy - For those who wish to directly manage their funds

  Age-based Strategy – For those who do not have the time or expertise to manage funds and would want the company to control the investments based on the policyholder’s age & risk bearing capacity

  Systematic Switching Strategy - For those who wish to park their funds in equity, but in a systematic manner, so that their investments are safeguarded from market volatilities

• Pay premiums for 5 years and avail protection for your family for 10 years 
• A wide variety of policy terms & premium payment terms to choose from - Pay premiums for 10 years and get coverage for 15, 20, 25, or 30 years
• Opt for Riders by paying a nominal cost and increase your life coverage manifold
• In times of distress, make partial withdrawals from your fund, subject to a minimum amount of Rs. 10,000 and completion of 5 policy years
• Choose to pay premiums yearly, half-yearly, quarterly or monthly, as per your convenience & financial commitments
• Excess funds available? Invest them in the policy through Top-Up Premiums and increase your coverage
• Liberty to increase / decrease your Basic Sum Assured without paying any extra penny
• Provision for switching between fund options to yield maximum gains
• Option for changing the future premium allocation of funds as per your financial needs & goals
• Option to discontinue the policy in the eventuality of any unforeseen financial condition, subject to charges if discontinued before 5 years
• Enjoy income tax benefits as per applicable laws

Benefits:

Maturity Benefit: At the time of maturity, you become eligible to receive the full Fund Value (including Fund Value in Top-Up Account, if 4 any). You may take this amount as a lump sum in one go. Alternatively, you may choose any one of the two settlement options:

1. Take 50% of the maturity proceeds as a lump sum and balance 50% in periodic installments over a maximum period of the next 5 years
2.  Take the entire maturity proceeds as equated periodic installments over a maximum period of the next 5 years

Death Benefit: In the event of death of the life assured during the policy term, the family would receive a Death Benefit, which is calculated as the highest of:  

1. Basic Sum Assured less applicable partial withdrawal amount from Main Account (if any)
2. Fund Value in Main Account
3. 105% of the Premiums paid up to the date of death

Plus
In respect of each Top-Up Premium paid (if any), highest of:

1. Top-Up Sum Assured
2. Fund Value of Top-Up Account
3. 105% of the Top-Up Premium paid

Riders: • Kotak Accidental Death Benefit Rider (Linked)
• Kotak Permanent Disability Benefit Rider (Linked)

4. Kotak Wealth Insurance

Features:

• A Unit-Linked Life Insurance Plan offering triple protection
• Avail a comprehensive triple protection, which entitles your nominee to receive 100% of the Basic Sum Assured plus the Fund Value plus a Lump sum Benefit, in the unfortunate event of your demise during the policy term.
•  A range of 7 fund options for different risk appetites and investment objectives:
  

  Classic Opportunities Fund: An aggressive fund, which invests primarily in equities
  Frontline Equity Fund: Another aggressive fund, which parks 60%-100% of the money in equities and 0-40% in debt & money market
  Balanced Fund: A moderate fund, which aims to maintain a balance by investing in equities as well as debts
  Dynamic Bond Fund: A conservative fund, which offers high fixed returns
  Dynamic Floating Rate Fund: A conservative fund, which invests in floating rate debt instruments
  Dynamic Gilt Fund: Conservative in nature, this fund only invests in Government Securities
  Money Market Fund: A secure fund, which parks all the investments in the money market

• Choose between regular or limited premium payment options
• Select a policy term of 10, 15, 20, 25, or 30 years
• Enjoy a high level of flexibility 5th policy year onwards in terms of :
1. Making partial withdrawals whenever you are in need of funds, subject to a minimum amount of Rs.10,000
2. Discontinue the policy without paying any charges
• Provision of paying Top-Up Premiums so that you can increase your coverage whenever you have excess funds   
• Flexibility to switch between funds so that you can reap the maximum gains
• Liberty to re-direct future premiums if you feel it’s time to change your investment pattern   
• Enhance or Reduce your Basic Sum Assured without any change in premium
• Enjoy income tax benefits on premium payments & benefits received

Benefits:

Maturity Benefit: On survival at policy maturity, you can avail the full Fund Value at one go or make a choice between any of the two settlement options. These include taking the entire proceeds in equated installments over a maximum period of 5 years, or withdrawing a part of the proceeds as a lump sum in cash, with the balance by way of periodic installments for up to 5 years after the maturity date.

Death Benefit: In the eventuality of death of the insured, the nominee receives the Death Benefit, depending upon the following 3 situations:
When the Life Insured and Policyholder is the same, the Death Benefit is equivalent to:
100% of the Basic Sum Assured + Fund Value + Lump Sum Benefit (equal to outstanding premiums)
On Death of Life Insured, when Life Insured and Policyholder are different, the Death Benefit is calculated as:
100% of the Basic Sum Assured + Fund Value
On Death of the Policyholder, when Life Insured and Policyholder are different, the Death Benefit is computed as:
Lump Sum Benefit + waiver of future premiums
In this case, the policy continues as is until maturity and the Life Insured is entitled to receive the policy proceeds.
Further, if there have been any Top-ups, the higher of Top-Up Sum Assured or Fund Value in the Top-Up Account will also be paid along with the above mentioned benefits.

Here, the minimum amount of Death Benefit is equal to 105% of total premiums paid (including Top-Up premiums) up to the date of death.

5. Kotak Invest Maxima

Features:

• A Unit-Linked Life Insurance Plan with zero premium allocation charge
• No premium allocation charges means maximum investment and maximum returns
• Earn rewards in the form of Survival Units for being loyal to the company
• Make a choice between two portfolio strategies that best suit your investment goals - Systematic Switching Strategy &  Self Managed Strategy
  

  Self Managed Strategy: For those who wish to manage their investments according to their specific investment objectives and risk bearing capacities. They can choose to allocate their funds in 5 different funds - Classic Opportunities Fund, Frontline Equity Fund, Balanced Fund, Dynamic Bond Fund, or Money Market Fund.

  Systematic Switching Strategy: For those who are willing to invest funds in the equity market, but in a systematic fashion. This option can be chosen at the time of taking the policy or on any policy anniversary. Under this strategy, the funds, in full or part thereof, are initially invested in the Money Market, followed by transfer of a pre-defined amount every month into the more aggressive funds, the Classic Opportunities Fund or the Frontline Equity Fund.

• Three premium payment options to choose from: Regular, Limited, & Single Premium
• Avail coverage for as long as you want – 10, 15, 20, 25, or 30 years
• In immediate need of funds? Opt for Partial Withdrawal from your funds, subject to a minimum amount of Rs. 10,000 and completion of 5 policy years  
• Provision for easy Switching between funds as per your investment goals
• Facility of Premium Redirection for changing your investment strategy or pattern
•  Flexibility to demand an Increase or Decrease in Basic Sum Assured at policy anniversaries, without any corresponding change in premiums, so that your coverage matches with your precise requirements
• Provision of enhancing your investment through Top-Up premiums
• Experiencing a financial crunch? You have an option to discontinue the policy after the 4th policy year, without having to pay any discontinuance charges
• Avail income tax benefits on premium payments & proceeds

Benefits:

Survival Units: Get rewarded for pursuing long-term protection and being loyal to the company, by receiving Survival Units in your Main Account, every 5 years, starting from the end of the 10th policy year, provided your policy is in force. These units are expressed as a percentage of the Fund Value and are calculated on the average of the Fund Value on the relevant date and the two preceding year ends. For Annual / Single Premiums ranging between Rs.50,000 to Rs. 74,999, the Survival Units are 1% of the Fund Value, and for premiums over Rs. 75,000, the Survival Units are computed as 2% of the Fund Value.

Maturity Benefit: Upon survival at policy maturity, you are entitled to receive a Maturity Benefit, which is an accumulation of Fund Value in the Main Account including Survival Units, if any, and Fund Value in Top-Up Accounts, if any. You can avail these maturity proceeds in any of the three following manners:

1. Withdraw the entire proceeds as an immediate payout in one go
2. Take only a part of the maturity proceeds as a lump sum, with the balance as pre-selected periodic installments in yearly, half-yearly, or quarterly mode, over a maximum period of five years
3. Take the entire amount in periodic installments over a maximum period of five years

Death Benefit: In the unfortunate event of your demise during the policy term, your nominee is entitled to receive an amount, which is highest of:

1. Basic Sum Assured
2. Fund Value in Main Account including Survival Units, if any
3. 105% of the premium(s) paid up to the time of death

Plus the highest of

1. Top-Up Sum Assured
2. Fund Value of Top-Up Account
3. 105% of the Top-Up Premium with respect to each Top-Up Premium paid (if any)

6. Kotak Single Invest Plus

Features:

• A Single Premium, Unit-Linked, Joint Life Insurance Plan
•  Convenience of paying premium only once throughout the term
•  Exceptional facility of availing Joint Life cover for yourself along with one other family member - spouse, or parent, or child, or grandparent, or grandchild. Under this plan, Death Benefit is payable in case of any of the two lives meeting with an untoward incident, either independently or together, during the term of the policy. In case of a minor joint life, Legal Guardian is appointed by the Primary Life Insured / Policyholder at the time of taking the policy.
•  Enjoy the perks of Loyalty Additions
•  For all those times when you are in dire need of money, avail the facility of making partial withdrawals in multiples of Rs.1000 from your fund, anytime from the 6th year onwards, subject to a minimum withdrawal amount of Rs.5,000
•  A range of 5 funds for various investment appetites- Classic Opportunities Fund & Frontline Equity Fund for aggressive investors, Dynamic Bond Fund & Dynamic Gilt Fund for conservative investors, and finally, Money Market Fund for those who want secure returns
• Flexibility of taking the maturity proceeds as a lump sum, periodic instalments, or both
• Option to discontinue the policy after completion of 5 policy years
•  Enjoy income tax benefits on premium payments & benefits received

Benefits:

Loyalty Additions: These are the rewards you get for being invested over a long term horizon. These are additional units that are credited to your Fund at the end of the 10th policy year for a policy of 10 year term and at the end of the 10th & the 15th policy year for a Policy of 15 year term. These are expressed as a percentage of the average fund value in the three years preceding the benefit payment. While premium amounts lesser than 7 lacs offer a Loyalty Addition of 3.60%, premiums of more than 7 lacs attract a loyalty addition of 4.00%.
Death Benefit: The amount of Death Benefit payable for the various circumstances is as follows:

1. On first death of any of the two lives covered, the Death Benefit is:
   

   Sum Assured on 1st Death, which is equal to 1.25 times Single Premium, with the cover on the second life being intact till the end of the policy term

2. On second death, the Death Benefit is:
   

   Highest of:

   1. Sum Assured on 2nd Death, which is equal to 10 times Single Premium
   2. Fund Value including Loyalty Additions, if any
   3. 105% of the Single premium paid

After payment of this Death Benefit, the policy is terminated.

3.  On simultaneous death of both the lives, the Death Benefit is:

Sum Assured on 1st Death
+
Highest of:

1. Sum Assured on 2nd Death
2. Fund Value including Loyalty Additions, if any
3. 105% of the Single premium paid

After payment of this Death Benefit, the policy is terminated

.

Maturity Benefit: At the time of maturity, if either of the two lives survives, the Maturity Benefit payable is equivalent to Fund Value including Loyalty Additions. These maturity proceeds may be withdrawn in the following three ways:

1. As a lump sum
2. 50% as a lump sum and 50% through pre-defined periodic installments in yearly, half-yearly, or quarterly modes, over a maximum period of 5 years
3. Entire proceeds through pre-defined periodic installments in yearly, half-yearly, or quarterly modes, over a maximum period of 5 years