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Kotak Invest Maxima is the new plan launched with zero premium allocation charges

Kotak Life Insurance has introduced a new unit-linked insurance plaKotak Invest Maxima - ULIP with zero premium allocation charge (ULIP) ‘Kotak Invest Maxima’ with zero premium allocation charge.

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2 mins 25 secs
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Last Updated - May 17, 2023
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Kotak Life Insurance has introduced a new unit-linked insurance plan Kotak Invest Maxima – ULIP with zero premium allocation charge (ULIP) ‘Kotak Invest Maxima’ with zero premium allocation charge.

Kotak Invest Maxima offers to maximize investments with maximum premium allocation along with a life cover. It is a flexible plan, allowing customers to choose their desired payment option – single premium, limited premium, or regular premium. Minimum annual premium starts at Rs 50,000 for regular pay, Rs 75,000 for limited pay, and Rs 1 lakh for single pay. Additional Top-up premiums are also allowed in this policy.

There is no restriction on the entry age and the maximum age at entry is capped at 65 years. The minimum age at maturity is 10 years and the maximum age at maturity is 75 years.

Read our expert review of Kotak Invest Maxima

Benefits of Kotak Invest Maxima:

. No premium allocation charge
. Optional riders for additional protection
. Flexible premium payment option – single premium, regular premium, or limited premium
. Choose from 2 portfolio strategies – Systematic or Self Managed
. Survival units – up to 2% of Fund Value starting from the 10th year and once every 5th year thereafter

The other unique feature of Kotak Invest Maxima is that it offers Survival Units from the 10th policy year. Also, a customer can take a policy loan against the policy after two years’ premiums have been paid. To meet immediate liquidity needs, the plan also allows partial withdrawals from the 6th policy year onwards.

ULIPs are a great way for customers who want to invest in the markets as well as get secure cover, however, like in all plans the risks are borne by the policyholder. What makes Kotak Invest Maxima attractive is the zero premium allocation charge.

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Jay Vasa is a content writer, who has got his core emphasis on insurance related information. The sole motive of writing articles is to spread appropriate information to the people regarding one of the important and discussed topic in today's time.