Kotak Fortune Maximiser

Kotak Fortune Maximiser is a ray in investment solutions, offering individuals a unique blend of wealth creation and financial protection. Developed by Kotak Mahindra Life Insurance, this product is designed to cater to diverse needs and aspirations, providing them a platform to achieve their long-term financial goals.

What is Kotak Fortune Maximiser?

“Kotak Fortune Maximiser” is a participating endowment plan with limited payment options, tailored to your needs, offering various plan, payout, and rider choices to aid in future planning. This product facilitates the accumulation of funds for significant goals and enables planning for a worry-free life ahead.

Eligibility of Kotak Fortune Maximiser

Kotak Fortune Maximiser is a comprehensive insurance and investment solution offered by Kotak Life Insurance, designed to help individuals secure their financial future while providing life coverage. Before applying for this plan, it’s essential to understand the eligibility criteria to ensure that you qualify for enrollment.

How Does it Work?

Let us understand how Kotak Fortune Maximiser works with this example:

• At 35 years old, Mr. Sharma opts to invest in the plan, selecting the Life Goal Maximiser and Bonus* Option for Paid-Up Addition.
• He pays an annual premium of ₹1,00,000^ for 12 years, with a policy term of 50 years, and the Basic Sum Assured amounts to ₹11,09,647.
• Paid-up additions are gained from the end of the first policy year and continue to accumulate until the end of the policy term.
• To fulfil significant life goals (children’s education, marriage or buying a house), he can additionally withdraw the Cash Value of the Paid-up Additions accumulated during the policy term.
• Upon maturity, Mr. Sharma will receive a sum assured of ₹1,61,97,052 at 8%# or ₹36,94,506 at 4%#.
• In the case of his demise, his nominee(s) will receive the death benefit in accordance with the policy terms.

Plan Options Available

You are provided with the flexibility to select from three plan options based on your specific requirements:

• Life Goal Maximiser
• Bright Future Maximiser
• Golden Years Maximiser

Plan Option: Life Goal Maximiser

Within this Plan Option, policyholders have the flexibility to opt for any of the three Bonus* Payout Options:

Cash Bonus* (Immediate Payout)

With this option, declared Cash Bonuses* are payable either monthly or yearly, starting from the end of the first policy year until the policy term ends, or in the event of death or surrender (if applicable), provided the premium due on the first policy anniversary is paid, and the policy remains in force.

Cash Bonus* (Deferred Payout)

Under this alternative, policyholders can select a Deferment Period, determining when they’ll receive the Cash Bonus*. The Deferment Period options include 5, 7, or 10 years. No Cash Bonuses are paid during this period. Post the Deferment Period (as opted for), the Cash Bonus (if declared) will be payable to you on a monthly / yearly basis starting from the end of first policy month OR year, till the end of the policy term

Paid-Up Additions

With this choice, any declared Cash Bonus* will be used to buy additional Sum Assured in the form of Paid-Up Additions, throughout the policy’s duration. These Paid-Up Additions will be paid out upon Death or Maturity, or you’ll have the option to cash in the Cash Value of accumulated Paid-Up Additions, subject to specified terms and conditions.

Plan Option: Bright Future Maximiser

This plan option is designed to assist you in preparing for your children’s education, higher studies, marriage, or future business ventures. Your child will be designated as the nominee under this plan option.

With this Plan Option, you must select a specific period during which the Cash Bonus* will be used to purchase Paid-Up Additions and accumulate. It’s important to note that during this period, only accrual in the form of Paid-Up Additions will be allowed, and you won’t have the option to choose a Cash Bonus* (Immediate or Deferred Payout). The available accumulation tenure under this Plan Option ranges from a minimum of 5 years to a maximum of 18 years.

Upon completion of the chosen tenure, you’ll receive the Cash Value of accumulated Paid-Up Additions as a Survival Benefit and the Cash Bonus* for the respective year.

You’ll also have the flexibility to decide how long the Survival Benefit will be paid out. This choice must be made before the due date of the Survival Benefit, and you can select from the following options:

• Receiving the benefit as a lump sum amount
• Receiving the benefit in equal installments over the next 3 years
• Receiving the benefit in equal installments over the next 5 years

Post the above payout is made, you will also have the flexibility to choose whether to receive future Bonus* Payout in the form of

• Cash Bonus* (Immediate Payout) or
• Accumulate them in the form of Paid-Up Additions

Plan Option: Golden Years Maximiser

This choice is designed to assist you in building a retirement fund, ensuring that you can cherish your golden years with your loved ones free from financial concerns.

Under this Plan Option, the Cash Bonus* will be used to acquire Paid-Up Additions until the Life Insured reaches the age of 60. Afterward, the accumulated Cash Value of Paid-Up Additions will be paid out in a lump sum as a Survival Benefit, along with the Cash Bonus* for the respective year. It’s important to note that during this period, only accrual in the form of Paid-Up Additions will be permitted, and you won’t have the option to select a Cash Bonus* (Immediate or Deferred Payout).

Following the aforementioned payout, you’ll also have the flexibility to decide whether to receive future Bonus* Payouts as:

• Cash Bonus* (Immediate Payout)
• Accumulate them as Paid-Up Additions

Advantages of Kotak Fortune Maximiser

Kotak Fortune Maximiser, a limited-pay participating endowment plan, stands out by providing a range of benefits that cater to diverse financial needs and aspirations. Here’s a closer look at the key advantages of Kotak Fortune Maximiser.

Multiple Plan Options

Flexibility to choose from 3 Plan Options to fulfil your goal:

• Life Goal Maximiser
• Bright Future Maximiser
• Golden Years Maximiser

Multiple Bonus* Payout Options

Flexibility to choose from 3 Bonus* Payout Options as per your convenience:

• Cash Bonus* (Immediate Payout)
• Cash Bonus* (Deferred Payout)
• Paid-Up Additions

Long Life Cover

Ensure lifelong security for yourself and financial stability for your family until the age of 85.

Multiple riders

Expand your coverage with six riders, ensuring comprehensive protection for you and your loved ones.

Enhanced Sum Assured for Female Life

Unlock higher coverage at the same premium rate, ensuring ample financial security for female policyholders.

Final Thoughts

Kotak Fortune Maximiser represents a compelling investment opportunity for individuals seeking to optimize their financial portfolio and achieve their financial goals. Kotak Fortune Maximiser stands as a trusted partner in their journey towards financial prosperity and success.

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