Kotak Single Invest Advantage
Kotak single invest advantage is a variety unit linked policy by Kotak Life Insurance. Single premium is the advantage of this policy. Investors can join with a single payment in this policy. Loyalty additions can be expected in this policy. If your premium is between Rs 50,000 and Rs 199,999 the loyalty addition will be 2.25% and 3% if your premium is above Rs 200,000. A variety of funds are available in this policy includes. Classic Opportunities Fund and Frontline Equity Fund, Dynamic Floor Fund II, Bond fund, Gilt fund and Money Market Fund are the available funds in this policy.
Minimum entry age in this policy is 3 years and maximum entry age in this policy is 65 years. Minimum maturity age is 18 years and maximum is 75 years. Switch options are available in this policy. 12 switches are free in each year. After 12 switches, there is an amount of Rs 500 will be realized for each switching. Loan facility is available in this policy. Loan can be applied after the first policy year. The minimum amount of loan should be Rs 10,000. 40% of the fund value can be allotted as loan. Interest will be decided by the insurance company. Top up option and settlement option is available in this policy.
If the premium is between Rs 30,000 and Rs 499,999, 5% will be the allocation charge and no allocation charge to the premium above Rs 5,00,000. If the premium is between Rs 30,000 and Rs 9,99,999, the administration charge will be 0.10 p.m. (maximum Rs 500). No partial withdrawals are allowed in the first five years. From 6th year a part of money can be withdrawn. A charge of Rs 500 will be realized for each withdrawal. The policyholder has the right to cease the policy after 5th year. Investor can not apply to cease the policy within the first five years. There is a fund management charge of 1.35% p.m. from the NAV.