Kotak Platinum Saving and Investment Life Insurance Plan and Policy - The Kotak Platinum ULIP is a powerful unit-linked plans that is a great plan not only as a life insurance investment but also as a regular investment tool, allowing the insured to use strategies with various strategic options available at their disposal, for an overall profitable long-term investment. This is a unit linked insurance plan with a variation of investment avenues that are beneficial for the nominees as well as the insured.
Entry Age |
Minimum: 0 years, Maximum: 65 years (i.e. 60 years for limited pay) |
Maturity Age |
Minimum: 18 years, Maximum: 75 years |
Policy Term |
10 to 30 years. Note that the minimum policy term will be higher of 10 or 18 minus age as on the date of commencement, for minors. |
Premium Payment Term (PPT) |
For Regular Pay: Same as policy term For Limited Pay: Five years along with ten years policy term or ten years with fifteen to thirty years policy term |
Payment Mode |
Monthly, quarterly, half-yearly or annually |
Annual Premium - Regular & Limited Pay |
Minimum: Annual-` Rs.99,000, Half-Yearly- Rs.49,500 , Quarterly-Rs.24,750 and Monthly - Rs.8,250 Maximum: No restrictions |
Basic Sum Assured |
For Regular Pay: (AP: Annualized Premium ) |
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Limited Pay: (AP: Annualized Premium ) |
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Top-up Premium |
Minimum: Rs.10,000 Maximum: The sum of Top-Up premium paid must not exceed the sum of all the regular premiums paid at the moment. |
The following are notable key features of this product from Kotak:
Plan Type |
Unit-linked insurance plan |
Basis |
Individual policy |
Policy Term |
10 to 30 years. Note that the minimum policy term will be higher of 10 or 18 minus age as on the date of commencement, for minors. |
Policy Validity |
Will be for the chosen policy term in case all premiums have been paid |
Top up Sum Assured (TSA) |
Less than 45 years (last birthday): 1.25 X Top-Up Premium and 45 years (last birthday) and above: 1.10 X Top-Up Premium |
Coverage |
Death Cover: In the event of death nominees are entitled to: Greatest of the following: |
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Additional Benefit on Death Coverage: Based Top-Up Premium paid, highest of: |
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Maturity Benefit: The Fund Value that are inclusive of the Survival Units which includes Fund Value in Top-Up Account(s)i.e. if any will be paid as maturity benefit. Insured can also take the Fund Value as a 7 lump sum and terminate the policy OR choose the Settlement Option . |
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3 investment strategies for the Insured |
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The extra Survival Units at the end of 10th policy year and every 5 years thereafter. |
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Additional protection through a choice of 2 riders |
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Settlement Option |
There is a settlement option to be paid maturity benefit via lump sum payment or in the form of installments |
Reinstatement or revival |
A insured has can choose for revival options upto the expiration date of the Notice Period. The insured can revive a discontinued policy within 2 years from the date of discontinuity and any discontinuance charge will be reversed. All benefits will be revived including the features, strategies, policy premium, etc. |
The following are major benefits from the Kotak Life plan:
Fund Name |
Objective |
Risk Return Profile |
Classic Opportunities Fund (ULIF-033-16/12/09- CLAOPPFND-107) |
Intends on maximizing opportunity to allow growth of long term capital via holding a significant percentage in a varied and flexible mix of equities belonging to large or medium sized companies. |
Aggressive |
Frontline Equity Fund (ULIF-034-17/12/09- FRLEQUFND-107) |
Intends to enhance a greater level of capital growth with investing in equities of large sized companies. |
Aggressive |
Balanced Fund (ULIF-037-21/12/09- BALKFND-107) |
Intends for moderate growth by holding a mix of equities as well as fixed interest instruments. |
Moderate |
Dynamic Bond Fund (ULIF-015-15/04/04- DYBNDFND-107) |
Intends on preservation of capital by investments in high quality corporate bonds allowing the generation of greater fixed returns |
Conservative |
Dynamic Floating Rate Fund (ULIF-020-07/12/04- DYFLTRFND-107) |
Intends to reduce the downside of interest rate risk through investment in floating rate debt instruments that at par with interest rate movements |
Conservative |
Dynamic Gilt Fund (ULIF-006-27/06/03- DYGLTFND-107) |
Intends to provide a safety and security to capital by investments in Govt. Securities. There are barely any default risk in Govt. Securities. |
Conservative |
Money Market Fund (ULIF-041-05/01/10- MNMKKFND-107) |
Dedicated to securing capital without any downside risks. |
Secure |
Here are the most important charges that may be levied on your Kotak platinum ULIP:
There are 2 riders available for this plan:
Kotak Saving and Investment Life Insurance Plans and Policy |
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Kotak Protection Plans |
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Kotak Saral Suraksha Protection Plan |
Kotak Income Protection Plan |
Kotak Term Protection Plan |
Kotak Preferred Term Protection Plan |
Kotak Retirement Plans |
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Kotak Lifetime Income Plan |
Kotak Premier Pension Plan |
Kotak Child Life Insurance Plans |
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Kotak Headstart Child Assure |