Kotak Life E-Invest Plan

About Kotak Life E-Invest Plan

The Kotak Life E-Invest Plan is a flexible investment plan that covers protection, investment, a child's future, and retirement all in one. It allows you to rest easy knowing your family's financial security is ensured, even in your absence. 

Eligibility Criteria

The key eligibility criteria that you must fulfil to buy the Kotak Life E-Invest Plan are mentioned below:

People also read: What is ULIP

Features of Kotak Life E-Invest Plan

The key features of this best ULIP Plan are as follows:

• Online Convenience: The plan can be easily purchased and managed online, providing convenience and accessibility to policyholders.

• Zero Premium Allocation Charge: 100% of your premiums are invested into the chosen funds. This means that there are no upfront charges deducted from your investment amount.

• Dual Benefit: Combining investment and insurance, the plan provides both wealth creation opportunities and financial protection to the policyholder and their loved ones.

• Multiple Plan Options: You can choose from different plan options like Maximizer, Rising Star and Retire Rich, each with its own benefits and features. These plan options can help you achieve your specific financial goals, such as saving for your child's education or retirement.

• Flexibility to Choose Investment Strategies: You can choose from two investment strategies: Self-Managed Strategy and Age-Based Strategy. The Self-Managed Strategy allows you to choose from a wide range of fund options, while the Age-Based Strategy automatically allocates your investments across different asset classes based on your age.

• Enhance Your Fund Value Through Yearly Additions: Starting from the 6th policy year, Kotak Life E-Invest Plan adds a loyalty benefit to your fund value every year till the end of the policy term. This loyalty benefit can help you increase your corpus over the long term.

• Return of Mortality Charges: In case of policy termination due to death, 25% to 200% of the mortality charges deducted will be added to the fund value. This benefit helps ensure that your nominee receives a substantial payout even in case of your unfortunate demise.

• Flexible Premium Payment: Policyholders have the flexibility to choose their premium payment frequency based on their convenience and cash flow requirements.

• Partial Withdrawal: The plan may offer the option for partial withdrawals, allowing you to access funds in times of financial need while keeping your policy active.

• Additional Riders: Depending on the variant of the plan chosen, policyholders may have the option to enhance their coverage with additional riders, such as critical illness or accidental death benefits.

• Fund Switching: It may provide the flexibility to switch between investment funds based on changing market conditions or investment objectives, allowing for optimisation of returns.

• Tax Benefits: ULIPs like the Kotak E-Invest Plan offer tax benefits on premiums paid, maturity proceeds, and death benefits under specific conditions. 

People also read: Kotak Life ULIP Plans

Investment Fund Options

The list of the 12 fund options available under the Self-Managed Strategy of the Kotak Life E-Invest Plan is as follows:

Investment Strategies

These two investment strategies offered by Kotak Life E-Invest Plan provide different approaches to managing your finances:

• Self-Managed Strategy: This approach gives you the freedom to select from a diverse range of fund options, allowing you to tailor your investments to maximise potential earnings. With this strategy, you have the flexibility to balance your risk tolerance with the duration of your investment.

• Age-Based Strategy: As your financial needs evolve over time, it's crucial to adjust your investment strategy accordingly. This personalised approach considers your age and risk appetite, categorising you into aggressive, moderate, or conservative investor profiles. It aims to strike an optimal balance between equity and debt investments to meet your evolving needs at different stages of life.

Policy Details

The policy terms and conditions of the Kotak Life E-Invest Plan are as follows:

1. Grace Period:

   • A grace period of 30 days is allowed for annual, half-yearly, and quarterly premium modes and 15 days for the monthly mode.

   • The policy remains in force during the grace period.

2. Partial Withdrawal:

   • Partial withdrawals are permitted if the insured is a major.

   • Allowed after the completion of the lock-in period of five policy years.

3. Discontinuance during the Lock-in Period:

   • If the policy is discontinued due to non-payment of premium after the grace period, the fund value (after applicable charges) is credited to the discontinued policy fund, and the risk cover ceases.

4. Revival of Discontinued Policy during Lock-in Period:

   • If the policy is revived, the risk cover is restored along with investments made in segregated funds, subject to applicable charges.

5. Segregated Discontinued Policy Fund:

   • A segregated unit fund is created for discontinued policies.

   • Fund management charge on the discontinued policy fund should not exceed 50 basis points per annum.

6. Discontinuance after Lock-in Period:

   • After the lock-in period, if the policy is discontinued due to non-payment of premium, it is converted into a Reduced Paid Up policy.

   • The policy continues with reduced benefits and without rider cover.

   • The policy can be revived, restoring the original risk cover, subject to terms and conditions.

7. Discontinued Policy Fund:

   • Funds from policies discontinued within the first five policy years are transferred to the Discontinued Policy Fund.

   • The fund aims to provide secure returns by investing in low-risk debt instruments.

8. Settlement Option:

   • Policyholders can choose to receive maturity proceeds either as a lump sum or through pre-selected periodic instalments.

   • The choice must be communicated to the company at least 3 months before maturity.

   • Loans are not available under this plan.

9. Free Look Period:

   • Policyholders have 15 days (30 days for electronic policies or policies obtained through Distance Marketing) to review the policy.

   • If the terms and conditions are not agreeable, the policy can be returned within this period.

People also read: ULIP Calculator

Suicide Exclusion Criteria

If the policyholder commits suicide within the first year of starting the policy or after revival, the nominee gets the fund value at the time of death.

If the life insured commits suicide within a year of revival, the full death benefit is paid if the policy is revived within 6 months of discontinuation. Otherwise, only the fund value at the time of death is paid, with certain charges added back.