Kotak e-Term Plan
Kotak e-Term Plan provides a high level of protection to your loved ones in your absence.
Kotak Guaranteed Savings Plan
Kotak Guaranteed Savings Plan is a savings and protection plan that helps you achieve long-term financial goals and provides an insurance cover against any eventuality.
Kotak e-Invest plan is a complete Unit-Linked Insurance Plan that can be customized as per your goals and needs.
Kotak Health Shield
Kotak Health Shield Plan helps secure your finances in sudden medical expenses such as Cardiac, Liver, Neuro, and Cancer (all early and significant illness stages/conditions of cancer), along with offering protection for personal accidents - in case of accidental death or disability.
Kotak Lifetime Income Plan
Kotak Lifetime Income Plan gives you the security of your income continuing throughout your life and in your absence throughout your spouse's lifetime!
A ULIP is an insurance policy where the insured’s money is invested in one or more funds of the insurer as per his/her choice and risk appetite. ULIPs are regulated by the Insurance regulatory and development authority of India (IRDAI). The ULIPs stand apart from the other retirement planning instruments over the following points
They bring you the benefits of a mutual fund and a traditional insurance policy in a single plan.
They offer a great deal of flexibility when it comes to
ULIPs are very transparent and easy to understand for investors. The charges and benefits are well illustrated in the information brochure. Furthermore, anyone can track the NAV (Net Access Value) of the plan to analyse its performance. NAV is updated daily.
A ULIP pension plan offer tax relief not only on the premium paid but also on the return on maturity. The premium paid is eligible for deduction under section 80C, and the return on maturity is eligible for deduction under section 10(10D) of the Income-tax Act.
The interest rate on bank fixed deposits and traditional non-participating pension plans has reduced in the last two decades. On the contrary, a ULIP retirement plan has the potential to deliver a higher rate of interest when invested for a long duration. It can be a great way of compounding your wealth.
With the Indian economy booming, the equity market here is promising. Despite the ongoing pandemic and economic challenges, the Indian equity market is still thriving and looks promising. Thus, it can be a wise decision to give your retirement planning the proper exposure to ULIPs. It pays to start early.