Kotak Investment Maxima

India is enriched with a large number of insurance companies.  A list of insurance companies is ready to serve. They are presenting different kinds of Insurance policies. They are traditional plans, unit linked plans and others. Unit linked plans are the singing flower in the world of Insurance. Kotak Life Insurance is one of the prominent companies in India engaged in the Insurance sector. Kotak Investment Maxima is a model unit linked plan with special features. The details are given in this article.

Minimum entry age is 0 years. Maximum entry age is 65 years. Minimum maturity age is 10 years. Maximum maturity age is 75 years. Policy term in regular premium and limited premium can be selected from 10, 15, 20, 25 and 30 years. In single premium, the policy term will be 10 years. In regular premium, premium should be paid for whole term. In limited premium option it is 5 years. Premium can be paid annually or single.

Premium conditions

Regular

Rs 50000 to Rs 100000

Limited

Rs 75000 to Rs 100000

Single

Rs 100000 to Rs 250000

Sum assured conditions

If the age is below 45 years, minimum sum assured will be higher of (10 X Annual premium) or (0.5 X policy term X Annual premium).

If the sum assured is above 45 years, Minimum sum assured will be higher of (7 X Annual premium) or (0.25 X policy term X annual premium).

Maximum sum assured will be 25 X annual premium.

There are two options in the sum assured for single premium. One is (5 X Single premium) and another is (1.25 X Single premium).

Top up facility is also available in this plan. Minimum top up premium is Rs 20000/. Maximum top up premium in regular and limited premium is Rs 10 X Annual Premium.

Top up sum assured

If the age is below 45 years, 1.25 X top up premium. If the age is above 45 years, 1.1 X top up premium.

There are two portfolio options available in this plan. They are Systematic Switching Strategy and Self Managed. There are six different funds in the self managed option. They are

1) Classic Opportunities Fund

75% of the amount is invested in equities. Up to 25% of amount is invested in debt market instruments.

2) Frontline Equity Fund

60% to 100% of amount is invested in equities and up to 40% of amount is invested in debt market instruments.

3) Balanced Fund

30% to 60% of amount is invested in equities. 40% to 70% of amount is invested in debt market instruments.

4) Bond Fund, 5) Money Market Fund, 6) Discontinued Fund

Up to 100% of amount is invested in debt market instruments.

 

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