Kotak e-Invest Plus

Kotak e-Invest Plus is a Unit Linked Insurance Plan (ULIP) that combines life insurance with market linked returns. It’s perfect for anyone who wants to make sure their loved ones are financially protected while also growing their wealth. Whether you’re saving for your child’s education, planning for retirement, or just looking to grow your money over time, this plan can be tailored to meet your needs.

Kotak e-Invest Plus gives you three flexible options to choose from:

• Maximizer: This plan helps you grow your investment as much as possible
• Rising Star: Ideal for parents who want to secure their child’s future. If the parent passes away, the nominee receives the death benefit, in addition – they will receive regular monthly income for the remaining policy term (minimum of 36 months and maximum of 120 months). Also, the company will waive off all the future outstanding premiums and the policy keeps going till maturity.
• Retire Rich: This helps you build a retirement fund and gives you regular income once you’re 60 till maturity.

The plan invests 100% of the premiums you pay (no premium allocation charge), also adds extra money, known as loyalty additions starting from the 6th year. Plus, you can get a return on the mortality charges you’ve paid over time, which is not something all ULIPs offer.

After the 6th year, Kotak e-Invest Plus adds 3% of your annual premium to your fund every year. These additions continue until the policy matures or the insured person passes away & a claim is made (whichever happens first), as long as premiums are paid on time.

ROMC is a feature that adds a percentage of the life cover charges back to your fund value. This means that a portion of the charges you’ve paid for life cover will be returned to you, which helps increase your fund value. This option is not available under Rising Star plan option.

Absolutely! If you choose the Retire Rich option, you can start receiving regular Retirement Income once you turn 60. You decide how much income you want (from 1% to 12% of your fund) and how often you want to receive it. For example, you can choose to receive the income on a monthly, quarterly, half-yearly, or yearly basis.

Kotak e-Invest Plus offers two strategies:

For Plan Options: Maximizer / Retire Rich: On Survival of the Life Insured to the end of the policy term, if all premiums are paid up to date and the policy is in force, Fund Value as on the date of Maturity (inclusive of ROMC and Yearly Additions if any) shall be payable.

The maturity proceeds in case Retire Rich will be paid as lumpsum only.

For Plan Option: Rising Star: Fund Value as on the date of Maturity (inclusive of Yearly Additions) is payable.

In case of Rising Star, Maturity Benefit is paid irrespective of survival of the Life Insured if the due premiums have been paid till date of death. In the other plan options, Maturity Benefit is paid subject to survival of Life Insured till Maturity.

Maturity Benefit under Rising Star is paid as lump sum only while in case of other plan options, you can opt to take your Fund Value as a lump sum and terminate your policy OR you can select the Settlement Option.

For Plan Options Maximizer / Retire Rich :

In the event of death, where all due premiums have been paid, your family would receive:

Highest of:

• Basic Sum Assured less applicable partial withdrawals¹
• (if any), Or
• Fund Value (inclusive of Yearly Additions and ROMC, if any), Or
• 105% of total premiums paid^ till date of death less applicable partial withdrawal¹ (if any) The death benefit shall be payable in lumpsum and the policy terminates thereafter.

Rising Star

In case of death of Life Insured during the term of the policy, following benefits are applicable:-

• Higher of (Basic Sum Assured or 105% of Total premiums paid^ till date of death of Life Insured) less Applicable partial withdrawals is paid as lump sum PLUS
• Regular Monthly Income (as mentioned below) over outstanding policy term (subject to minimum 36 installments and maximum 120 installments).
• The policy remains in force, without any death benefit, by waiving of all the future premiums. Future Premiums are infused into the Fund as on the date of Claim settlement.

Regular Monthly Income starts from the next month after Lumpsum payment and is paid as below:

• 1% of Basic Sum Assured is paid monthly to the beneficiary starting from the policy month-versary following the date of death of the Life Insured, for outstanding policy term (subject to minimum 36 installments and maximum 120 installments).
• The Beneficiary (Nominee/Appointee) has an option to avail future Monthly Income as lump sum, discounted at 5% p.a. The discount rate might change in future based on the Company’s decision subject to prior approval from IRDAI.

The Policy is also eligible for Yearly Additions as and when it is applicable. The policy continues to be in-force till Maturity without any death benefit. Policy Administration and Fund Management charges shall be applicable.

The Triple Protection Benefit in the Rising Star option provides comprehensive financial support to your loved ones’ in case of your unfortunate demise. Here’s how it works:

• Lump sum payment: Immediately after the life insured’s death, the nominee will receive a lump sum amount. This is a one-time payment that helps cover immediate financial needs.
• Regular Monthly Income: In addition to the lump sum, the nominee will receive a regular monthly income starting from the next month. This income is paid for a period of 36 to 120 months (3 to 10 years), ensuring ongoing financial support during critical years.
• Policy continuation without premium payments: The policy will continue as usual, but no further premium payments will be required from the policyholder's family. The insurer will waive off all future premiums, and the policy will stay active until maturity, with all benefits continuing.

This option ensures that the loved ones’ future is financially secured, even in the absence of the life insured, with continued policy coverage and financial assistance over time.

You can start withdrawing money from your fund from 6th policy year onwards after the lock-in period of 5 years, up to 4 times per year, with no charges. The minimum withdrawal is ₹5,000.

Yes! You can switch your funds or investment strategy up to 12 times per policy year for free. Thereafter, ₹250 will be charged for every additional switch.

The Policyholder is offered a 30 days’ free look period to review the terms and conditions of the Policy (except for policies having a policy term of less than a year) beginning from the date of receiving the Policy Document in electronic form. In case the Policyholder is not agreeable to any terms and conditions of the Policy or otherwise; then subject to no claims having been made hereunder, the Policyholder may choose to return the Policy to the Insurer for cancellation, stating the reasons thereof within the aforesaid free look period.

Should the Policyholder choose to return the Policy, the Policyholder shall be entitled to a refund of the Fund Value on the date of cancellation plus the non-allocated premium (if any) plus any charges levied by cancellation of Units; after deducting the proportionate risk Premium for the period of cover, stamp duty charges and expenses of medical examination (if any). A Policy once returned shall not be revived, reinstated or restored at any point of time and a new proposal will have to be made for a new Policy. Where Rider(s) are available under the base Policy and so opted by the Policyholder, the same would also stand cancelled when the free look provision of the base Policy is exercised.

If you stop paying premiums before completing 5 years, your policy will be moved to a Discontinued Policy Fund. This means your policy will be put on hold, and the coverage will stop. However, the funds will still be invested and will earn minimum guaranteed interest as specified by IRDAI.

After 5 years, if you stop paying premiums, your policy will continue, but with reduced paid-up benefits. This means the coverage may be lower, and the policy will remain in force with reduced paid-up benefits until maturity. You’ll also have the option to revive the policy within three years, if you decide to continue it with full benefits.

Kotak e-Invest Plus is designed to provide great value while maintaining transparency. Here’s a breakdown of the charges and the benefits they offer:

• Fund Management Charge: From 0.50% up to 1.35% of fund value per year depending on the fund invested.
• Policy Administration Charge: ₹400 per year will be recovered through monthly cancellation of units.
• Mortality Charge: This is the cost of life cover, which will be levied by cancellation of units on a monthly basis based on your age and coverage.
• Switching & Partial Withdrawal Charges: Upto 12 free switches per year and 4 free partial withdrawals, you have flexibility to adjust your investment according to your changing needs. Thereafter, ₹250 will be charged for additional switch / withdrawals.
• Discontinuance Charges: This will be applicable only for discontinued policies and the charges will vary basis your annualized premium, year during which the policy is discontinued and your premium payment mode.
• Miscellaneous Charges: The charges for Policy alterations including issue of duplicate policy document shall be as per the prevailing policy servicing manual of the Company. We reserve the right to change this charge for any segregated fund at any time. This shall be done with prior IRDAI approval; subject to a maximum of ₹500 per transaction.