Kotak Life Insurance Launches Kotak Invest Maxima

Kotak Life Insurance has launched an investment oriented Unit Linked Insurance Plan (ULIP)- Kotak Invest Maxima.

The plan offers a zero premium allocation charge feature maximizes the investible component the choice of three different portfolio management strategies.

Customers can choose from a self managed strategy which offers a choice of 5 attractive funds options or systematic switching strategy which enables the customer to invest in the equity market in a systematic manner over a period of time or a customized combination of the two.

In the last policy year, consumers can choose to exit the policy in a secure and systematic manner, by selecting the systematic exit strategy option which gradually diverts all fund balances into a lower risk money market fund, to avoid volatility and safeguard returns on maturity.

Apart from regular premium payment option, the plan also offers limited and single premium payment options. Optional rider benefits can be bought to guard against unforeseen situations such as critical illness, accidental death and permanent disability.

The plan offers additional survival units of up to 2 per cent of fund value starting from 10th year and every 5th year thereafter.

The plan also allows the policyholder to pay top up premiums at zero percent allocation charge .The maturity benefit is higher of sum assured or fund value.