Kotak Life Insurance Long Life Wealth Plus Plan



Life has several shades. Some known, some unknown; some planned, some unplanned. Life may not always be the way you want it to be. Think about this. Do you have a safety net in place? Are you and your family cushioned against the rising costs of living? Are you suitably prepared to age with the comfort and self-esteem you deserve? A bit of planning today will go a long way in securing a better tomorrow.
 Why An Ideal Plan
Kotak Long Life Wealth Plus is an intelligent investment plan that helps you to build your future net worth with power-packed features that actively monitor and manage your investment growth. It is a unique unit-linked plan that’s designed to assure you of a joyful and fulfilling future.
 Advantages
  • Opportunity for higher returns on your long term investments
  • Customize your fund portfolio to suit risk profile
  • Enjoy a boost in fund balance by Survival Units for long term savings
  • Increase your contribution in case of surplus amounts
  • Avail of cash in case of need through partial withdrawals
 Key Features
Maturity Benefit
You are entitled to the Fund Value on maturity. You may withdraw a part of or the entire fund amount on maturity and the balance, if any, can be taken in periodic installments for up to 5 years after maturity.
Death Benefit
Your beneficiary would receive:
  • Higher of the Sum Assured or the Fund Value in the Main Account
  • Plus Fund Value in the Top-up Account, if any
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 years 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, till 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)
  • Kotak Permanent Disability Benefit (PDB)
Tax Benefits
Avail tax benefits under Section 80C and Section 10 (10D) of Income Tax Act, 1961. Tax benefits are subject to change in the tax laws. You are advised to consult your Tax Advisor for details.
  • Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors.
  • The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions.
  • Kotak Mahindra Old Mutual Life Insurance Ltd is only the name of the Insurance Company and Kotak Long Life Wealth Plus is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns.
  • Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document of the insurer.
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. This is a unit linked non-participating endowment plan. Insurance is the subject matter of the solicitation.

 

Download its brochure here.



Kotak Life Insurance Long Life Wealth Plus Plan
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