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Kotak Single Invest Plus plan is a Unit Linked Insurance Plan that requires a single premium payment. This plan does not have a bonus facility like many other plans offered by Kotak Life Insurance.

The highlights of the plan are tabled below.

Particulars

Details

Entry age

For primary life insured

Minimum entry age – 18 years

Maximum entry age – 55 years (10 years policy term); 52 years (15 years policy term)

For secondary life insured

Minimum entry age – 3 years

Maximum entry age – 55 years (10 years policy term); 52 years (15 years policy term)

Maturity age

For primary life insured

Minimum entry age – 28 years

Maximum entry age – 65 years (10 years policy term); 67 years (15 years policy term)

For secondary life insured

Minimum entry age – 18 years

Maximum entry age – 65 years (10 years policy term); 67 years (15 years policy term)

Policy term 

10 years and 15 years

Minimum premium to be paid

Rs. 3,00,000

Frequency of premium payment

Single premium payment option

Maturity benefit

Fund value + Loyalty additions (if any), provided either of the insured parties survive the policy term

Death benefits

Death of 1st insured party

  • 1.25 times of premium 

Death of 2nd insured party

Higher of,

  • 10 times the premium amount
  • Fund value

Simultaneous death of both parties

  • 1.25 times of premium, +,

Higher of,

  • Sum assured for 2nd life 
  • 10 times the premium amount
  • Fund value

Final Thoughts

The Kotak Single Invest Plan Plan is a ULIP that offers the best of mutual fund returns as well as insurance benefits. Customers can have a joint cover for eligible family members.

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