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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 Wealth Insurance Plan
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Plan Nature
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ULIP
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Plan Category
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Investment Plan
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UIN No.
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107L063V01
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About Plan
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Kotak Wealth Insurance is a unit-linked insurance plan that provides you with investment growth to take care of your family's goals and comprehensive protection to help your family and you meet unplanned events head on.
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Minimum Entry Age
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0 Years
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Maximum Entry Age
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65 Years.
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Policy Term
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10,15,20,25 & 30 yrs.
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Premium Paying Term
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Regular: Equal to policy termLimited: 5 years with 10 year policy term.
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Minimum Premium
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Rs.20,000 p.a
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Maximum Premium
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No Limit.
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Minimum Top Up premium
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Rs.10000
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Maximum Top up Premium
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10 X AP (aggregate of all Top-Up Premiums).
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Benefits
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| Particulars | Description |
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Maturity Benefits
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You are entitled to the Fund Value on maturity. You may withdraw any amount on maturity and the balance, if any, can be taken in periodic instalments for up to 5 years after maturity.
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Death Benefits
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If Life Insured and Policyholder are same Basic Sum Assured plus, Fund Value in Main and Top-Up Accounts, plus Lump Sum Benefit# equal to all future premiums. If Life Insured and Policyholder are different On Death of the Life Insured: Basic Sum Assured plus Fund Value in Main and Top-Up Accounts.On Death of the Policyholder: Lump Sum Benefit equal to all future premiums, is injected into the Fund. Policy Continues; all future premium are waived off.
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Partial Withdrawal Benefit
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To ensure that your long-term nvestments are flexible enough to account for your current needs, Kotak Wealth Insuance offers you the option of Loan and Partial Withdrawals. You can avail of a loan up to 40% of the Fund Value in Main and Top-Up Account to meet any contingency, after two years premium have been paid. Partial Withdrawals are allowed after five policy years.
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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 Critical Illness (Rider) [107C004V01]
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Kotak Accidental Disability Guardian (Rider) [107C011V01]
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Comprehensive triple benefit to secure your family's future. Wide array of fund options to suit your investment needs.
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Liquidity to take care of contingencies. Convenience of shorter payment term. Optional rider benefits to boost protection.
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Balanced Fund
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Classic Opportunities Fund
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Discontinued Policy Fund
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Dynamic Floor Fund II
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Frontline Equity Fund
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Money Market Fund
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Particulars
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Range
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Classic Opportunities Fund
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Equity
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75% - 100%
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Debt (Including Money Market Instruments)
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0% - 25%
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Dynamic Floor Fund II
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Equity
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0% - 75%
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Debt (Including Money Market Instruments)
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25% - 100%
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Frontline Equity Fund
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Equity
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60% - 100%
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Debt (Including Money Market Instruments)
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0% - 40%
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Money Market Fund
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Debt (Including Money Market Instruments)
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0% - 100%
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Balanced Fund
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22-May-13
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12.9131
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Classic Opportunities Fund
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22-May-13
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12.8732
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Discontinued Policy Fund
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22-May-13
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12.0025
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Dynamic Floor Fund II
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22-May-13
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12.5374
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Frontline Equity Fund
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22-May-13
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12.1194
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Money Market Fund
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22-May-13
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12.6979
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Balanced Fund
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Classic Opportunities Fund
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Discontinued Policy Fund
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Dynamic Floor Fund II
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Frontline Equity Fund
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Money Market Fund
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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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