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Overview
Kotak Ace Investment Plan is a ULIP (Unit Linked Insurance Plan). This plan offers a lump sum in case of your unfortunate demise and maturity benefits if you outlive the policy tenure.
Three investment strategies are available for a policyholder: self-managed, age-based, and systematic switching. This section provides complete details regarding the Kotak Ace Investment Plan, including its features, benefits, eligibility criteria, and buying options.
Kotak Ace Investment Plan is a unique life insurance plan. Let's explore the plan in detail for more clarity and better understanding.
Benefits of Kotak Ace Investment Plan
Kotak Ace Investment Plan offers a range of benefits, including:
- Multiple investment strategies
- Tax benefits
- Death benefit
- Partial withdrawals
- Enhancing options
- Maturity benefits
How to Buy Kotak Ace Investment Plan from PolicyX.com
- Visit the official website of PolicyX.com.
- Click on the ‘Investment’ tab.
- A new page will appear on the screen.
- Fill out the form at the top of the page with the necessary details.
- Select your income and city. Click on 'Proceed'.
- Update your education and occupation details.
- Choose your preferred plan and click on 'Buy this plan'.
- Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.
Benefits of Kotak Ace Investment Plan
There are various benefits to buying the Kotak Ace Investment Plan. Let’s understand each of them in detail:
- Multiple Investment Strategies: Kotak Ace Investment Plan provides you with three different investment strategies to choose from: Self-managed, Age-based, and Systematic Switching Strategy.
- Easy Premium Payment Options: This plan provides convenient premium payment options to its policyholders. You can choose to pay premiums for 5 years for a policy term of 10 years, and 10 years for a policy term of 15, 20, 25, and 30 years.
- Choice of Life Cover: You can choose your life cover amount as per your family’s lifestyle habits, future financial needs, and number of dependents.
- Partial Withdrawals: You can choose to withdraw a partial amount from your fund value after the completion of 5 policy years. The minimum withdrawal amount for policyholders is Rs 10,000.
- Maturity Benefits: If the policyholder outlives the policy tenure, then maturity benefits are paid to them, including any additions, to fulfill their financial goals.
- Death Benefits: In case of the policyholder’s unfortunate demise during the policy tenure, then death benefits are paid to their nominees, which helps them to live a comfortable life.
- Enhancing Options: Various enhancing options are available to increase your plan's overall benefits, including top-up premiums, partial withdrawals, discontinuance of policy, switching/premium re-direction, and alteration in basic sum assured.
- Increase/Decrease the Sum Assured: You can increase or decrease your sum assured during the policy tenure as per your financial requirements and future goals.
Top-up Premiums
The top-up of your premiums should not exceed the total of regular premiums. The top-up premiums are invested in separate accounts with a lock-in period of 5 years.
Discontinuance
There are certain instances when you may want to discontinue your policy or the company discontinues your policy due to non-payment of premiums. This plan allows such discontinuance, and discontinuance benefits are provided accordingly.
Free-Look Period
A free-look period allows you to review the plan you have chosen in detail. In this period, you can cancel your policy if you are not satisfied with it after paying minimal charges.
Policy Revival
Kotak Ace Investment Plan provides you the option to revive your discontinued policy within three years from the date of the last unpaid premium.
How to Buy Kotak Ace Investment Plan from Kotak Life Insurance
- Visit the official website of Kotak Life Insurance.
- Hover over 'Investment Plans' from the top menu.
- Click on the 'Kotak Ace Investment' plan.
- Click on ‘Buy Now’ and you will be redirected to a new page.
- Enter your name and contact information. One of their representatives will reach out to you to discuss the quotes.
- Once discussed, you can make the premium payment and get the policy documents.
Exclusions
- Suicide within 12 months of the policy purchase is not covered.
- Consumption of any intoxicants.
- Death due to any aviation accident.
- Death due to any adventurous sports.
Documents Required to Buy Kotak Ace Investment Insurance
Here is the list of documents required to buy the Kotak Ace Investment Insurance:
- Photo ID Proof: Passport, Aadhaar card, PAN card, Driving license (any one).
- Age Proof: Passport, Aadhaar card, PAN card, Driving license (any one).
- Address Proof: Utility bill, passport, voter ID, ration card (any one).
- Medical Records: Medical records of the policyholder if requested.
- Income Proof: Bank statement, last three months' salary slips (if salaried) (any one).
Conclusion
Kotak Ace Investment Plan is an ideal plan if you want the dual benefits of a life insurance plan and an investment plan. This plan also provides the option of top-up premiums, choice of life cover, enhancing options to increase benefits, flexible premium payment, and settlement options.
For more information related to this plan, you can visit PolicyX.com, or call us at 1800-420-0269. Our insurance experts listen to your unique needs and suggest the best possible solution for you.
