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Insurance Company
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Kotak Mahindra Old Mutual Life Insurance Ltd
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Plan Name
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Kotak Retirement Income Plan (Unit Linked)-With Cover
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Plan Nature
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ULIP
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Plan Category
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Retirement Plan
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UIN No.
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107L031V01
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About Plan
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An investment plan designed to secure your future, it assures that even though you have stopped working, your income does not. It is offered to you in three versions - Regular Premium, With Cover and Without Cover, in addition to a Single Premium version. The regular premium options come with the Kotak Seal of Guarantee@. These plans have been designed to ensure that your money earns you handsome returns, safe from the vagaries of the capital market, so that you can retire comfortably and securely.
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Minimum Entry Age
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18 years
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Maximum Entry Age
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60 years
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Minimum Policy Term
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10 Years
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Maximum Policy Term
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30 Years
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Minimum Maturity Age
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45 years
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Maximum Maturity Age
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75 years
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Minimum Premium
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Rs 10000
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Benefits
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| Particulars | Description |
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Maturity Benefits
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On maturity/vesting date, you may withdraw up to one-third of the total amount of Basic sum assured or value of units in Main Account whichever is higher and Value of units in Top-Up Accounts. and the balance can be used to buy an annuity of your choice from any insurer.
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Death Benefits
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In the event of you unfortunate death, your family can take up to 1/3rd of the death benefit in cash and rest to purchase an annuity. Your beneficiary will receive the Basic Sum Assured or value of units in the Main Account, whichever is higher. Plus, if you have invested any Top-up premiums, then they would get back the value of units in Top-Up Accounts.In the event of the Life Assured committing suicide within one year of the date of issue or date of revival of the policy, only the value of units in the Main Account and Top-Up Accounts are payable.
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Loan against policy
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No loan facility.
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Surrender Benefit
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For reasons other than ill-health, surrender of the policy contract is permitted after the third policy year or on attainment of age 45, whichever is later.
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Tax Benefits
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| Section | Description |
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SEC 80 C
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Under Section 80 C premiums up to Rs. 100,000 are allowed as deduction from taxable income.
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SEC 10 (10)D
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Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
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SEC 80 D
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Under Section 80 D premium up to Rs 10,000 (Rs.15,000 for senior citizens) are allowed as deduction from taxable income.
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Kotak Accidental Death Benefit (Rider) [107C001V01]
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Kotak Permanent Disability Benefit (Rider) [107C002V01]
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Kotak Term Benefit (Rider) [107C003V02]
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Kotak Critical Illness (Rider) [107C004V02]
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Kotak Accidental Disability Guardian (Rider) [107C011V01]
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| No data for Plan Speciality |
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Aggressive Growth
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Dynamic Growth
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Opportunities Fund
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Pension Balanced
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Pension Bond
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Pension Floating Rate
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Pension Gilt
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Particulars
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Range
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Aggressive Growth
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Equity
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60% - 100%
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Debt
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0% - 40%
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Dynamic Growth
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Equity
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40% - 80%
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Debt
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0% - 40%
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Cash & Money market
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0% - 20%
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Opportunities Fund
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Equity
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75% - 100%
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Debt
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0% - 25%
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Pension Balanced
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Equity
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30% - 60%
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Debt
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20% - 70%
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Cash & Money market
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0% - 20%
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Pension Bond
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Debt
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0% - 100%
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Cash & Money market
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0% - 20%
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Pension Floating Rate
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Debt
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0% - 100%
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Cash & Money market
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0% - 20%
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Pension Gilt
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Debt
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80% - 100%
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Cash & Money market
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0% - 20%
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Aggressive Growth Fund
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19-Jun-13
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37.2876
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Dynamic Growth Fund
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19-Jun-13
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39.389
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Opportunities Fund
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19-Jun-13
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22.3809
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Pension Balanced Fund
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19-Jun-13
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34.245
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Pension Bond Fund
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19-Jun-13
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22.2107
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Pension Floating Rate Fund
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19-Jun-13
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18.3146
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Pension Gilt Fund
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19-Jun-13
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20.9191
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Aggressive Growth
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Dynamic Growth
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Opportunities Fund
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Pension Balanced
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Pension Bond
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Pension Floating Rate
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Pension Gilt
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21-Jan-09
11:52
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Kotak Life ties up with DHFL Vysya
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15-Jan-09
14:10
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Kotak Life registered a growth of 63%
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24-Dec-08
14:50
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Kotak Life launches interactive Web site
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22-Oct-08
12:10
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Kotak Life launches Kotak long life
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16-Oct-08
11:59
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Insurance cover for student loans
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15-Oct-08
09:35
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Allahabad Bank signs MoU with Kotak Life Insurance
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01-Sep-08
09:35
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Other Insurers to follow Kotak's strategy on cut insurance cost
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28-Aug-08
20:41
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Kotak Life insurance brings down term plan rates up to 40%
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