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A plan that works like a term plan, and Earns like ULIP Plan
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In this policy, the investment risk in investment portfolio is borne by the policyholder.
A Non-Participating Unit-Linked Life Insurance Individual Savings Product
The linked Insurance products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender or withdraw the monies invested in Linked Insurance Products completely or partially till the end of fifth years.
Kotak Wealth Optima Plan is a protection and savings oriented unit linked insurance plan. The plan provides life insurance cover to protect your family in case of your unfortunate demise. It also provides the flexibility of choosing premium payment term, investment strategy and investment horizon.
Shivani is 35 years old, business woman.
She chooses a policy term of 20 years and premium payment term of 7 years with annual premium of ₹10,00,000 and a Sum Assured of ₹1,00,00,000.
She chooses the Age Based Strategy as it offers her the flexibility to change Risk Appetite as per market movements, and starts with an Aggressive Risk Appetite
At the end of 10 years, her cumulative premium is Rs. 70,00,000, fund value at 8%# is ₹1,08,11,092 and fund value at 4%# is ₹82,31,060.
At maturity, her cumulative premium is Rs. 70,00,000 and fund value at 8%# is ₹2,17,92,568 and fund value at 4%# is ₹1,13,36,810.
#The values are based on assumed investment rate of return of 4% p.a. & 8% p.a. The values shown are not guaranteed and they are not upper and lower limit of what you might get back as the value of your policy is dependent on a number of factors including future investment performance. The actual experience may be different from the illustrated.
The above premium figures are net of Goods and Services Tax and Cess, as applicable. Goods and Services Tax and Cess rates are subject to change from time to time as per the prevailing tax laws and/or any other laws.
Stay protected till age 99 years
This plan enables you to choose the funds that suit your risk-return profile. It offers you the flexibility to choose from 2 Investment Strategies: (1) Self-Managed Strategy and (2) Age Based Strategy.
Yearly Additions starts accruing from the end of 6th policy year (subject to policy being in force) till the end of the policy term.
Wealth Boosters starts every 5 years starting from the end of 10 policy year (subject to policy being in force)
Age Criteria
Entry Age:
Min: 3 years
Max: Other than Whole life:
∙ Regular Pay: 65 years
∙ Limited Pay: 58 years
∙ Whole Life: Limited pay: 50 years
Maturity Age:
Regular & Limited Pay: Min: 18 years | Max: 75 years
Whole Life: Max: 99 years
Note: The minimum policy term will be equal to the smallest available term to ensure that the Life Insured is a Major at the time of maturity. For example, if the Life Insured’s age is 7, minimum policy term available would be 15 years
Policy Term:
Other than
Whole Life: Regular Pay & Limited Pay: 10 years / 15 years / 20 years
Whole Life: 99 minus age at entry of life insured.
Premium Payment Term
Regular
| Other than Whole Life | Policy Term | Premium Paying Term |
|---|---|---|
| 10 | 10 | |
| 15 | 15 | |
| 20 | 20 | |
| Whole Life | Not Applicable | |
| Other than Whole Life | Policy Term | Premium Paying Term |
|---|---|---|
| 10 | 5/7 | |
| 15 | 5/7/10 | |
| 20 | 5/7/10 | |
| Whole Life | 99 - age at Entry | 5/7/10 or 60 – age at Entry |
Premium Payment Mode
Yearly, Half yearly, Quarterly, Monthly
Premium
Min: Annual – ₹200,000 || Half-Yearly – ₹100,000 || Quarterly – ₹50,000 || Monthly – ₹16,000
Max: No limit
Basic Sum Assured
Regular Pay:
Other than Whole life:
• For entry ages 3 - 60 years: Min: 10 times of AP || Max: 15 times of AP
• For entry ages 61 - 65 years: Min & Max: 10 times of AP
Regular pay is not applicable under Whole life.
Limited Pay:
Other than Whole life:
• For entry ages 3 – 45 years: Min: 10 times of AP || Max: 15 times of AP
• For entry ages 46 – 58 years: Min & Max: 10 times of AP
Whole life:
• For entry ages 3-45 years:
Min: 10 times of AP
Max: 5 Pay - 12 times of AP
7 Pay | 10 Pay | 60 minus age at entry – 15 times of AP
• For entry ages 46-50 years:
Min: 10 times of AP (fixed)
Max: 5 Pay | 7 Pay | 10 Pay | 60 minus age at entry – 10 times of AP (fixed)
AP refers to one Annualized Premium
In addition to the death benefit as per the base plan, the Rider Sum Assured is payable in case of an unfortunate demise of the life insured due to accident.
In case of Total and Permanent disability of the life insured due to accident, the Rider Sum Assured is payable and the base policy continues
Tax benefits is applicable as per the Income-Tax Act, 1961. Tax laws are subject to amendments from time to time. Customer is advised to take an independent view from tax consultant.
Terms & Conditions
Risk Factors
IRDAI or its officials do not involve in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
Kotak Wealth Optima Plan UIN: 107L118V03,
This is a non-participating unit-linked life insurance individual savings product. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale.
Regd. Office:
Kotak Mahindra Life Insurance Company Ltd. Reg. No. 107; CIN: U66030MH2000PLC128503 Regd. Office: 8th Floor, Plot # C- 12, G- Block, BKC, Bandra (E), Mumbai -400051 | Website : www.kotaklife.com | WhatsApp: 9321003007 | Toll Free: 1800 209 8800 | Ref No.: KLI/24-25/E-WEB/888
Trade Logo displayed above belongs to Kotak Mahindra Bank Limited and is used by Kotak Mahindra Life Insurance Company Ltd. under license.
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