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  • Kotak Ace Investment Plan

    Life Insurance
    • Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
    • Claim up to Rs. 1,50,000 deduction under section 80C**
    • Choose between annual and monthly premium payment options

    Kotak Life Insurance is one of the most popular insurance companies in India. The company caters to the specific needs of different individuals and companies. You can go for an individual insurance plan or a group insurance plan. Kotak Life Insurance offers unit-linked insurance plans that will keep your funds secure for the first 5 years of your policy term. During this period, you cannot take out funds from a unit linked plan. Kotak Ace Investment Plan is one such plan. This particular plan will help you in accumulating your funds over several years and in gaining great returns.

    Eligibility - Who is the Kotak Ace Investment Plan for?

    The Kotak Ace Investment Plan is ideal for anybody who is passionate about investing their funds in a superb income-generating plan. You will be allowed to select any of the 3 excellent well-planned strategies.

    Minimum entry age 0 years
    Maximum entry age 65 years (For limited pay - 60 years)
    Minimum maturity age 18 years
    Maximum maturity age 75 years
    Premium payment term Regular pay This is equivalent to the policy period. Limited pay 5 years with 10 years policy period 10 years with a policy period of 15/20/25/30 years
    Type of plan Investment insurance plan

    Sum Assured and Premium Range - What you get and what it costs?

    The basic sum assured for Kotak Ace Investment Plan is different for both regular pay and limited pay. The product also offers a top-up sum assured. You may choose to modify your sum assured if you want to maintain your cover when you do not want to modify your premiums. Let us take a look at the sum assured and premium range:

    Minimum Basic Sum Assured Regular pay
    • When your age is below 45 years: 0.5 X Policy Term X AP or 10 times AP, whichever is higher
    • 45 years: 0.25 X Policy Term X AP or 7 times AP, whichever is higher
    • 46 years to 54 years: 0.25 X Policy Term X AP or 7 times AP, whichever is higher
    • 55 to 60 years: 0.25 X Policy Term X AP or 7 times AP, whichever is higher
    • 61 years and above: 7 times AP
    * AP - Annual Premium Limited pay
    • When your age is below 45 years: 0.5X Policy Term XAP or 10 times AP, whichever is higher
    • 45 years: 0.25X Policy Term X AP or 7 times AP, whichever is higher
    • 46 to 54 years: 0.25X Policy Term X AP or 7 times AP, whichever is higher
    • 55 to 60 years: 0.25X Policy Term X AP or 7 times AP, whichever is higher
    Maximum Basic Sum Assured Regular pay
    • When your age is below 45 years: 25 times AP
    • 45 years: 15 times AP
    • 46 to 54 years: 15 times AP
    • 55 to 60 years: 10 times AP
    Limited pay
    • When your age is below 45 years: 15 times AP
    • 45 years: 25 times AP
    • 46 to 54 years: 15 times AP except for 5 PPT which is 7 times AP
    • 55 to 60 years: 10 times AP except for 5 PPT which is 7 times AP.
    Minimum annual premium Regular pay Half-yearly: Rs.18,000 Annual: Rs.30,000 Monthly: Rs.3,000 Quarterly: Rs.9,000 Limited pay Half-yearly: Rs.30,000 Annual: Rs.50,000 Monthly: Rs.5,000 Quarterly: Rs.15,000
    Maximum annual premium There is no limit.
    Premium payment mode Monthly, quarterly, half-yearly and yearly
    Policy period 10 or 15 or 20 or 25 or 30 years
    Top-up premium Minimum: Rs.10,000 Maximum: This will not be more than the total of every premium that you have paid.

    *Premiums vary based on age, location, plan term and other factors.

    Plan Coverage - What the Kotak Ace Investment Plan covers?

    The Kotak Ace Investment Plan offers 3 investment strategies. With the Self-Managed Strategy, you can organise and handle your investment by yourself. You can go for the Systematic Switching Strategy (SSS) if you want to enjoy the returns of the investment in a methodical manner. You can opt for the Age-Based Strategy when you do not have enough knowledge or time to check the performance of your investment.

    Let us discuss the coverage of the Kotak Ace Investment Plan:

    Maturity benefit When your policy matures or when you choose the settlement option, you will get the complete value of your fund plan. If you have any funds in your top-up account, you will receive this also.
    Access to investments Kotak Ace Investment Plan will allow you to take funds from your investment (in parts) once the 5 years of the policy period get over.
    Death benefit
    • When the policyholder dies, the nominees will get the fund in the primary account or basic sum assured minus the partial withdrawal amount from the primary account or 105% of the premiums that have been paid till the date when the policyholder died, whichever is higher.
    • If you have paid any top-up premium, you will get the value of the top-up account or the top-up sum assured or 105% of the top-up premium paid.

    Riders / Add-On Plans - Additional coverage under the Kotak Ace Investment Plan:

    With the Kotak Ace Investment Plan, you will get additional protection when you take any of the riders that are offered with the plan. Both these riders are linked riders. These are the features of the riders:

    Kotak Permanent Disability Benefit Rider (Linked) When the policyholder suffers from a total and permanent disability, the company will give the rider sum assured and the policy will go on.
    Kotak Accidental Death Benefit Rider (Linked) When the policyholder dies due to an accident, apart from the policy’s death benefit, the nominee will receive the rider sum assured.

    Exclusions - What the Kotak Ace Investment Plan does not cover?

    The Kotak Ace Investment Plan comes with a general exclusion. These are the details regarding this exclusion:

    • If the policyholder commits suicide in 1 year since the beginning of the policy, then the nominee will receive the value in the primary account as on the date when the policyholder has committed suicide.
    • If the policyholder commits suicide in 1 year after the policy has been revived in 6 months, then the suicide exclusion will not be applied.

    Other Key Features of Kotak Ace Investment Plan:

    These are some of the important features of Kotak Ace Investment Plan:

    Grace and notice period For annual, quarterly, and half-yearly modes, you will get a grace period of 30 days. For the monthly mode, you will get a grace period of 15 days. When you miss any premium payment deadline, you can pay your premiums within this grace period.
    Nomination This plan enables you to nominate another person according to Section 39 of the Insurance Act, 1938.
    Assignment You can assign another person according to Section 38 of the Insurance Act, 1938.
    Free look period During this free period, you can return this policy by giving specific reasons. This period is valid for 15 days.
    Policy revival You can revive this policy before the notice period lapses.
    Top-up option This plan allows you to put in your additional funds by making top-ups. This will increase your savings massively.

    Tax Benefits of Kotak Ace Investment Plan:

    When you pay your premiums for your Kotak Ace Investment Plan, you will receive tax benefits as per section 10(10D) and section 80C of the Income-tax Act, 1961.

    Other Benefits of Kotak Ace Investment Plan:

    These are some of the other advantages of choosing Kotak Ace Investment Plan:

    • This plan permits you to invest your money in 3 categories of investments. Each category is managed and coordinated differently. So, this will enhance your personal funds comprehensively.
    • You can get the complete value of this plan as a lump sum or through different payouts once the policy matures.
    • Kotak Life Insurance enables you to request a life advisor on the company’s official website. You only need to fill a form and you will get help in no time.

    Why you should buy the Ace Investment Plan from Kotak?

    Kotak Life Insurance has been offering exceptional insurance solutions for several years. You can trust the organisation to provide you with customised services for protection as well as savings. With the Ace Investment Plan from Kotak, you can create a great risk-return profile for yourself and this good start will help you have many successful investments.

    This Insurance Company has not partnered with BankBazaarInsurance.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.