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.
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|
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||
|Maximum Basic Sum Assured||
|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.
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.|
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.|
The Kotak Ace Investment Plan comes with a general exclusion. These are the details regarding this exclusion:
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.|
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.
These are some of the other advantages of choosing Kotak Ace Investment Plan:
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.
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