Kotak e-Term Plan
Kotak e-Term Plan provides a high level of protection to your loved ones in your absence.
Kotak E-Invest Plan
Kotak e-Invest plan is a complete Unit-Linked Insurance Plan that can be customized as per your goals and needs.
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 Lifetime Income Plan
Kotak Lifetime Income Plan gives you the security of your income continuing thru your life and in your absence throughout your spouse's lifetime!
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.
Our representative will get in touch with you at the earliest.
1. Unit-Linked Insurance Plan (ULIP)
ULIP or Unit Linked Insurance Plan is a mix of an insurance plan and investment. ULIPs enable you to get a life cover and invest in equity or debt to secure your future. Some part of the monthly or yearly premium you pay goes in securing a life cover while the rest is invested into funds based on your risk appetite.
Tax exemption benefit: You can avail tax benefits under Section 80C and Section 10(10D). You can claim the premiums paid towards the ULIP under Section 80C with a maximum limit of INR 1,50,000 and the maturity benefits received can be claimed under Section 10(10D).
PPF is an investment scheme which has a maximum investment limit of INR 1,50,000 per year and a lock-in period of 15 years. Also, the returns after maturity are exempt from taxes giving you a dual advantage.
Tax exemption benefit: You can claim the entire amount received after maturation under Section 80C of the Income Tax Act, 1961. The maturity sum obtained is tax-free.
Equity-Linked Savings Scheme or ELSS is a diversified equity mutual fund which has a lock-in period of 3 years. This scheme gives you long-term returns with tax benefits. The money invested gets compounded every year giving you lucrative returns in the future.
Tax exemption benefit: A maximum of INR 1,50,000 can be claimed under Section 80C per financial year.
Employees’ Provident Fund is exercised by organizations where a part of your salary is deducted on a monthly basis and accumulated in an account. This amount collected is exempt from tax and starts attracting interest over the period of time.
Tax exemption benefit: Your share can be claimed for tax deductions under Section 80C but not your employer’s share. The interest gained on the EPF amount is tax-free in nature.
National Pension Scheme is a pension program started for employees that don’t have a pension system in place at their organization. It was initiated by the Government of India to
enable employees working in private sectors to also have a pension after retirement. The amount invested remains in a lock-in period till you reach the retirement age. Partial withdrawals are allowed after completing 10 years in the scheme.
Tax exemption benefit: A maximum cap of INR 1,50,000 can be claimed by you under Section 80C of the Income Tax Act, 1961.
SCSS is an investment option created for senior citizens with a tenure of five years. You have to be at least 60 years of age to be eligible. In the case of voluntary retirement, you are allowed to opt for it after the age of 55.
Tax exemption benefit: Investments made towards SCSS qualifies for deduction under the income tax Section 80C.
NSC is a tax-saving scheme with a lock-in period of five-years. It is a post-office savings scheme that gives lucrative returns after maturity.
Tax exemption benefit: You can claim the amount earned under this scheme for tax deductions under Section 80C.
There are numerous post office savings schemes which enable you to invest and gain tax benefits. Some of the investment schemes are 5-Year Recurring Deposit (RD), Post Office Time Deposit Account (TD), Monthly Income Scheme Account (MIS), Kisan Vikas Patra (KVP), etc. These schemes have different lock-in periods and interest rates.
Tax exemption benefit: You can claim tax deductions under Section 80C of the Income Tax Act, 1961.
- A Consumer Education Initiative series by Kotak Life
Kotak Assured Savings Plan is an affordable protection plan that enables you to accumulate wealth and strengthens your finances for the future.Know more