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Overview of Kotak e-Invest Plan
Kotak e-Invest Plan is a ULIP (Unit Linked Insurance Plan) that offers dual benefits: financial security to your loved ones in your absence and a maturity amount if you outlive the policy term. This investment plan also offers yearly additions starting from the 6th policy year.
This plan is ideal if you want dual benefits under a single policy. This article provides complete Kotak Life e-Invest information, including its features, benefits, eligibility criteria, and buying process.
Kotak e-Invest Plan is a unique life insurance plan. Let's explore the plan in detail for better clarity and understanding.
Key Benefits of Kotak e-Invest Plan
- Plan options
- Tax benefits
- Death benefit
- Partial withdrawals
- Dual investment strategies
- Maturity benefits
Key Features
How to Buy Kotak e-Invest Plan on 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 e-Invest
There are various benefits to buying the Kotak e-Invest Plan. Let’s understand each of them in detail:
- Death Benefit: In case of the policyholder’s unfortunate demise, the nominee will receive the Basic Sum Assured (minus partial withdrawals, if any), Fund Value, or 105% of total premiums paid to date.
- Enhancing Your Options: You can opt for enhancing options to increase the benefits of your existing policy. These options include partial withdrawals, discontinuance of policy, switching/premium redirection, and change in basic sum assured.
- Maturity Benefit: In case the policyholder outlives the policy tenure, all premiums are paid back and the policy will remain active.
- Partial Withdrawals: You can withdraw a partial amount from this plan after completing the lock-in period of 5 years. The minimum amount for withdrawal is Rs 5,000.
Grace Period
In case of premium payment delay, you get a grace period of 30 days for quarterly, half-yearly, and yearly payments, and 15 days for monthly payments.
Discontinuance
In case your policy discontinues due to non-payment of premiums even after the grace period, your fund value after the deduction of discontinuance charges will be credited to your discontinued account.
Reduced Paid-Up
In case of unpaid premiums, your policy acquires the reduced paid-up value if you have paid premiums for at least two years.
Policy Revival
A three-year revival period from the date of the last unpaid premium is offered to revive your policy. In case of revival during discontinuance, the funds will remain in the discontinuance account.
How to Buy Kotak e-Invest Plan on Kotak Life Insurance Website
- Visit the official website of Kotak Life Insurance.
- Hover over 'Investment Plans' from the top menu.
- Click on the 'Kotak e-Invest' plan.
- Click on ‘Buy Now’ to be redirected to a new page.
- Enter your name and contact information. A representative will contact you to discuss quotes.
- Once discussed, you can make the premium payment and receive 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 e-Invest Insurance
Here is the list of documents required to buy the Kotak e-Invest Insurance:
- Photo ID Proof
- Age Proof
- Address Proof
- Medical Records
- Income Proof
Photo ID Proof
Photo ID Proof (either of one) - Passport, Aadhaar card, PAN card, Driving license.
Age Proof
Age Proof (either of one) - Passport, Aadhaar card, PAN card, Driving license.
Address Proof
Address Proof (either of one) - Utility bill, passport, voter ID, ration card.
Medical Records
Medical Records of the policyholder if requested.
Income Proof
Income Proof (either of one) - bank statement, last three months' salary slips (if you are salaried).
Conclusion
Kotak e-Invest Plan is a ULIP that offers death benefits along with maturity benefits. This plan provides three plan options for policyholders to choose from: Maximizer, Rising Star, and Retire Rich. Two investment strategies are available: Self-managed and Age-based. You can also enhance your benefits with additional options and riders.
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.
