Be The Investor You Want To Be
“BEST ULIP PLAN IN INDIA” - Outlook Money (15th Dec’2007)
For those who live life on their own terms, here is an insurance plan that understands your needs fully. Built around the core values of flexibility and transparency, Kotak Platinum Advantage features capital protection, embedded investment advice, life cover and aggressive market linked growth options — all under one life insurance plan. This plan offers you the flexibility to adjust the risk profile and tenure of your investments as you climb the ladder of success and your needs evolve and change.
What can you gain by investing in the Kotak Platinum Advantage Plan?
This plan is ideal if you want:
- To be able to choose the proportion of capital security and aggressive equity returns in your investment portfolio.
- A low cost structure with no hidden charges.
- An investment-oriented insurance package.
- Unparalleled flexibility in premium payments.
Key Features
Safety and returns: get the right balance
Depending on your risk profile, you may decide to deposit your premium in two types of
accounts: the Shield Account or the Dynamic Account.
The Shield Account offers a guaranteed amount on maturity, while the Dynamic Account allows ou access to more aggressive investment options. You may even have a combination of both the accounts, giving you the comfort of a guarantee underpin, as well as the opportunity to take some additional, more aggressive market exposure.
Safeguarding your earnings
While there generally seems to be an inverse relationship between safety and returns, here is a unique investment avenue that assures the dual benefi ts of security with returns. Your investments under the Shield Account are protected from any erosion on maturity, even in case of a high equity exposure; you are assured of protection of your funds with a Guaranteed Maturity Value.
Investment portfolios: make your choice
You have a range of fund options, depending on your investment goals and appetite for risk. The Aggressive Growth Fund has the maximum equity exposure, while the Gilt Funds (Guaranteed and Dynamic) invest primarily in Government Securities.
You can invest your premiums in any proportion and switch your monies any number of times. The premiums that will be invested will be the net of all charges.
Your money - when you need it
There is a facility of partial withdrawals/full surrenders after completion of three policy years. The policy however, acquires a surrender value after payment of at least one full year’s premium.
- Minimum amount of such partial withdrawal: Rs.10,000 in multiples of Rs. 1,000 (for amounts in excess of Rs.10,000).
- Minimum amount required to be maintained in the account after partial withdrawal Rs.10,000.
You can also access your Top-up Accounts without any charges. The Top-up premiums should complete a lock-in period of 3 years from the date of investing the Top-up amount before you can access the investment.
This fund aims to:
- Maximize equity exposure in bull markets, actively trimming it back, either to lock in strong returns or limit the downside risk in falling markets.
- Shield your savings from the vagaries of market volatility.
Maturity Benefit
If you have paid all the premiums within the days of grace and made no partial withdrawals from the Shield Account, the benefi t on maturity would be the aggregate of:
- Guaranteed Maturity Value or value of units in the Shield Account, whichever is higher.
- Value of units in the Dynamic Account.
- Value of units in the Top-Up Accounts (if any).
Otherwise, the benefit would be the aggregate of the fund value of the units in all the
Accounts.
Death Benefit
The beneficiary would receive an amount equal to:
- Life cover Sum Assured, plus
- Value of units in the Shield, Dynamic and Top-up Accounts.
Tax benefit:
Section 80C, 10(10D) of Income Tax Act, 1961 would apply if your Total premium, including the Top-up premium in any year, is within 20% of the Sum Assured. Premiums paid for Critical Illness Benefit qualify for a deduction under Section 80D. You are advised to consult your tax advisor for details.
Eligibility
- Entry Age : Min – 0 years | Max – 65 years
- Policy Term Options : 10 - 30 years
- Premium Payment Term : 3-15 or full term
- Top-up Premiums/Partial Withdrawals : Min – Rs. 25,000/Rs. 10,000, Maximum Top-up premium – 25% of the basic annual premiums paid to date
- Premium : Min – Rs. 50,000 (Rs. 1,00,000 in case of Limited Premium
Payment term). Min in Shield/Dynamic Account – Rs. 25,000 (Rs. 50,000 in
case of Limited Premium Payment term)
If you want a Life Insurance/ ULIP, Health Insurance or any kind of General Insurance and Mutual Funds, Please CALL/SMS us @ 9830329228 or Contact us. Thanks for visiting!
February, 2008
Is taking an ulip a wise decision, or 1 shud normally go in for a term/ life insurance?
February, 2008
Hi Barun, if u r looking for pure risk cover, then it is safer to go for a TERM Insurance Plan. The chance of going wrong in this is quite low. If you ready to take the risk for higher returns then go for ULIPs. Basically ULIPs are combo of TERM Insurance + Mutual Funds.