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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 chargen (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, 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 10th year and once every 5th year thereafter

The other unique feature in 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 6th policy year onwards.

ULIPs are a great way for customers who want to invest in the markets as well as get a 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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