“IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER.”
Protecting your family and ensuring their comfort has always been your primary concern and key responsibility. For this, you require careful planning and need to secure it with appropriate protection — a necessary cushion in the form of a retirement savings plan, to face the unexpected events of life. To ensure that your investments give maximum protection to secure your family’s future and their financial independence, we bring to you Kotak Long Life Secure Plus, an ideal retirement savings plan.
Why is it an Ideal Plan?
Kotak Long Life Secure Plus is a unit-linked plan that ensures your investment and gives maximum protection to secure your family’s future and their financial independence. It gives you the dual benefit of wealth creation in the long term and timely protection for your loved ones.
Manage investments with a wide range of funds
Enjoy a boost in your fund value by Survival Units
Avail of timely assistance in case of sudden accidental disability
Secure the future for your loved ones with comprehensive protection
Benefit from lower costs for additional rider options
You are entitled to the Fund Value on maturity. You may withdraw any amount on maturity and the balance, if any, can be taken in periodic installments for up to 5 years after maturity.
This retirement savings plan provides the following benefits on the death of the life insured
100% of the Sum Assured plus
Lump Sum Benefit
In case of the death/ permanent accidental disability (whichever happens earlier) of the policyholder, the fund account is increased by the lump sum benefit which is equal to your outstanding premiums. If the policyholder and the life insured are different, the policy continues to accumulate with no future premium payment obligations
Premium Payment Options as per your convenience
Allows you to pay your premiums according to your convenience. You also have the option of Limited Premium Paying Term where you can choose to pay off your premiums over 3 and 5 years (only for 10 year policy term) if you do not wish to pay for the entire policy term. Further, you also have the flexibility to pay premiums at intervals that suit you – annually, half-yearly, quarterly or monthly.
Survival Units for an added advantage
Enjoy additional unit allocation equal to 3% of average Fund Value of the last three policy anniversaries, added to the Fund Value at the end of policy term; provided all premiums are paid up to date.
Invest your surplus capital as Top-up Premiums
You can invest your surplus funds at any time as Top-Ups, thus adding to your savings potential.
Switch between the funds for better financial management
Switching is allowed anytime (subject to applicable charges) during the term of the policy between the available fund options to match your investment objectives and maximize your returns.
Partial Withdrawals for easy liquidity
You can access your investments by way of partial withdrawals after payment of full premiums for first three policy years and if the life insured has completed 18 years of age, subject to applicable charges.
Automatic Cover Maintenance
Enables your insurance cover to remain intact, whilst your fund balance allows it, should you miss your premium payments or stop them all together. This facility is available after payment of full premiums for first three policy years.
Rider Benefits for Additional Protection
To ensure comprehensive protection for your family, you can opt for any of the additional rider benefits at a nominal cost:
Kotak Accidental Death Benefit (ADB)
Kotak Critical Illness benefit (CIB)
These benefits will be charged by way of additional unit deductions from the fund.
Avail tax benefits under Section 80C and Section 10 (10D) of Income Tax Act, 1961. Premiums paid for Kotak Critical Illness Benefit (CIB) qualify for a deduction under Section 80D. Tax benefits are subject to change in the tax laws. You are advised to consult your Tax Advisor for details.