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!
Unit-linked insurance plan is a unique financial product that offers both life insurance and investment opportunities in a single product. The premium paid for ULIP is split into two parts: one covers your life insurance, and the other goes into different fund options like equity, debt and balanced.
For individuals who desire to invest for a longer length of time, ULIPs are more favourable. The earnings on ULIPs are quite appealing to those who are saving for their children’s further education, a payment on a property, generating capital investment for their company plan, or retirement. In addition, ULIPs provide financial security for the future and make it easier to accumulate money and assets.
ULIP in 3 years have shown some promising progress, and we’ll tell you all about it in this article.
Each ULIP has a mandatory 5-year term, during which you must invest for at least five years. This instils the habit of saving regularly and assures that you, as an investor, are in it for the long term rather than simply for the short term. This technique also allows you to profit from power of compounding, which has risen in the previous three years. The interest received on principle is re-invested each year to produce extra revenue. You might expect large wealth creation if you stay invested for 10 to 15 years. Given their cost-effective structure, some of the finest ULIPs have provided 12 to 15% returns on average over the previous five years.
ULIP 3-year growth has the potential to generate better returns than any other financial investment scheme due to its equity edge. The premiums you pay are invested in various asset types through different funds in ULIPs. Tax-saving funds have historically generated double-digit returns, but you’ll have to look for a new fund every year if you’re just investing once. ULIP renewals swiftly take care of tax saving benefits.
The amount you receive at maturity is determined by the stock market’s performance throughout the term. On the other hand, endowment plans are set up to pay out a lump sum after a specified length of time. Even though such restrictions protect capital, earnings do not beat inflation.
Life is full of unexpected events. However, not everyone has ample liquid assets, and disposing long-term assets impact the market portfolio, to say nothing of the tax and other fees. Therefore, when it pertains to partial withdrawals from collected funds after the lock-in period, ULIP is a lifesaver, as demonstrated by ULIP in 3 years of growth.
The previous few years have been difficult but having your money in order makes dealing with unfavorable financial conditions simpler. In this instance, ULIP in 3 years has proven their value and become one of the most valuable financial tools that help you beat inflation and take advantage of compounding.