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Invest once or get benefits for life with the Kotak Single Invest Plus Plan Kotak Single Invest Plus Plan is a single-pay unit-linked insurance plan that offers dual benefits: protection and savings. You make a one-time premium payment and enjoy the benefits throughout the policy term while staying protected with life coverage. The Kotak Single Invest plan helps you stay invested and generate wealth through the unit-linked funds and the loyalty additions provided by the company. This investment plan offers easy liquidity and numerous fund options to choose from, which sets this plan apart from others. With Joint Life Cover features, you can add your spouse and get life coverage for two people under a single plan. You can withdraw money wholly or partially after the five-year lock-in period.
Kotak Life Insurance Single Invest Plus Plan offers you a range of benefits including:
Min- 3 years, Max- 52 years
Upto 67 years
10 and 15 years
10 years
Quarterly, Half-yearly, Annually
10 times of the Single Premium
With Kotak's Single Invest Investment plan, you can choose your investment fund as per your risk profile. You'll get numerous fund options to choose from. However, the fund options available with the plan are as follows:
Fund options | Companies invested | Risk return ratio | Equity | Debt | Money Market |
Classic Opportunities Fund | Large and mid | Aggressive | 75-100% | 0-25% | 0-25% |
Frontline Equity Fund | Large | Aggressive | 60-100% | 0-40% | 0-40% |
Dynamic Bond Fund | Corporate bonds | Conservative | - | 60%-100% | 0-40% |
Dynamic Gilt Fund | Govt. Securities | Conservative | - | 80%-100% | 0%-20% |
Money Market Fund | Debt, Treasury bills | Secure | - | - | 100% |
With the Kotak Single Invest plan, you have the flexibility to withdraw your accumulated funds from the 6th year onwards partially.
The plan offers a choice of maturity benefits payout options:
You can easily surrender your policy any time after the single premium is paid, but the surrender benefit on discontinuance will be payable after the lock-in period.
This charge is deducted to allocate your premium into funds. It varies on different premium amounts such as:
Premium Amount | Allocation Charge (as % of SP) |
Premium for less than 7 Lakhs | 5% |
Premium for higher or equal to 7 Lakhs | 4% |
The monthly policy administration charge will be 0.05% of Single Premium not exceeding ` 500/- p.m. It gets levied automatically by canceling some units from the fund value for the first 5 policy years only.
This charge is deducted to manage your investment in different funds so that your capital remains safe in every market situation.
This charge is deducted from covering the cost of life coverage for the whole policy tenure.
Mortality Charges for covering first death:
Primary Life Insured's Age at inception | Secondary Life Insured's Age at inception | In 1st Yr | In 5th Yr | In 10th Yr | In 15th Yr |
25 yrs | 20 yrs | 1.8706 | 2.0060 | 2.2497 | 2.8825 |
35 yrs | 25 yrs | 2.2647 | 2.6988 | 3.1595 | 4.9941 |
45 yrs | 20 yrs | 3.0407 | 4.3029 | 6.4695 | 9.2395 |
52 yrs | 25 yrs | 5.5174 | 7.4338 | 10.5290 | 15.4900 |
Mortality Charges for covering second death:
Primary Life Insured's Age at inception | Secondary Life Insured's Age at inception | In 1st Yr | In 5th Yr | In 10th Yr | In 15th Yr |
25 yrs | 20 yrs | 0.0509 | 0.0587 | 0.0713 | 0.0944 |
35 yrs | 25 yrs | 0.0513 | 0.0641 | 0.0871 | 0.1502 |
45 yrs | 20 yrs | 0.0519 | 0.0753 | 0.1323 | 0.2386 |
52 yrs | 25 yrs | 0.0545 | 0.1028 | 0.2121 | 0.4472 |
There is no charge for the first 12 switches in a policy year under this plan. After that a charge of Rs. 250 will be applicable for each additional switch in a policy year.
If you make a partial withdrawal after the lock-in period, the parietal withdrawal charge of Rs. 250 will be applicable.
The discontinuance charges are applicable will be:
Year during which policy is discontinued | 1st Yr | 2nd Yr | 3rd Yr | 4th Yr | 5th Yr |
For All Single Premium Levels | Rs. 6,000 | Rs. 5,000 | Rs. 4,000 | Rs. 2,000 | NA |
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There are various benefits to buying the Kotak Life Insurance Single Invest Plus Plan. Let’s understand each of them in detail:
Here is the list of documents required to buy the Kotak Single Invest Plus Plan:
Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.
Age Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.
Address Proof (either of one) - Utility bill, passport, voter ID, ration card.
Medical Records of the policyholder if requested.
Income Proof ( either of one) - bank statement, last three months' salary slips (if you are salaried).
You can buy the Kotak Single Invest Plus Plan official website or one of their nearest branch offices.
Visit the official website of PolicyX.com.
Click on the ‘Investment’ tab.
A new page will appear on the screen.
Fill out the form at the top of the page with the necessary details.
Select your income and city. Click on 'Proceed'.
Update your education and occupation details.
Choose your preferred plan and click on 'Buy this plan'.
Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.
Visit the official website of Kotak Life Insurance.
Hover over the 'Investment Plans' from the top of the menu.
Click on the 'Kotak Single Invest Plus Plan'.
Click on ‘Buy Now’ and you will be redirected to a new page.
Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.
Once discussed you can make the premium payment and get the policy documents.
You can buy the Kotak Single Invest Plus Plan offline by visiting one of their nearest branch offices. One of their representatives will help you buy the plan.
What’s Good Here | What’s Missing |
Choice of Fund Options | Guaranteed Additions |
One-time Investment | Premium Offset |
In-built Joint Life Cover | No Auto Cover Continuance |
Loyalty Additions | Large Premium Boost Discounts |
Flexibility to withdraw fund partially | Whole Life Cover |
The Kotak Single Invest plan is a single-pay unit-linked insurance plan helps you stay invested and generate wealth through unit-linked funds and loyalty additions. For further assistance, you can reach out to us at PolicyX.com. With the expertise of our insurance experts, you indeed get all of your answers in no time.
You can easily surrender your policy any time after the single premium is paid, but the surrender benefit on discontinuance will be payable after the lock-in period.
With Joint Life Cover features, you can add your spouse and get life coverage for two people under a single plan.
Kotak’s One-Time Investment offers a choice of 5 different funds options.
With the Kotak Single Invest plan, you have the flexibility to withdraw your accumulated funds from the 6th year onwards partially.
The plan offers a regular pay option that allows you to pay premiums on a monthly or yearly basis throughout the policy term.
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February 5, 2023
Asia/Kolkata
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