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  • Kotak e-Term Plan

    Kotak e-Term Plan is a pure term plan that provides a high level of protection to your loved ones in your absence.

  • Kotak Health Shield

    The Kotak Health Shield Plan helps secure your finances in times of sudden medical expenses related to illness such as Cardiac, Liver, Neuro and Cancer (all early and major stages of illness /conditions of Cancer); along with offering protection for Personal Accident - in case of accidental death or disability.

  • Kotak Lifetime Income Plan

    Kotak Lifetime Income Plan gives you the assurance of your income continuing throughout your life and in your absence throughout the lifetime of your spouse!

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Savings and Investments Plans

Online Savings Plan - Kotak Life

Enjoy the dual benefit of savings and investments

Life is uncertain – but it is not worth spending time wondering about what could be in store. Kotak Life Insurance offers you a range of Savings & Investment Plans that make sure your money does all the hard work, so that you get the opportunity to celebrate and live life to the fullest.

  • Financial security

  • Assurance of savings

  • Benefits of investments

  • Emotional wellbeing

Understanding Savings and Investment Plans

The first step towards understanding savings and investment plans is to realize the difference between savings and investments.

Saving: It means keeping a part of your income aside for future needs.

Investment: It involves building wealth or making your savings grow.

A savings and investment plan is an insurance policy that plays both roles. It allows you to accumulate funds systematically over time and promote disciplined investment. Such plans also provide multiple avenues to build a corpus. You can choose from guaranteed or market-linked instruments as investment tools. At maturity, you receive the maturity value as the return on your investment. The proceeds help finance your future goals like children’s education, marriage, and amassing retirement funds.

Besides, if an unfortunate event occurs during the tenure of the policy, your nominee receives payouts. Therefore, the life insurance component safeguards your family against economic hardships in your absence. Thus, such a plan combines the benefits of life insurance with savings.

Moreover, all savings schemes in India are eligible for tax benefits as well.

The best savings plans in the insurance industry offer various features that cater to individual financial needs. The different types of investment plans available in the Indian insurance sector include:

  • Participating Endowment Plans that assure a guaranteed maturity benefit along with bonuses.
  • Unit linked insurance plans (ULIP) that do not offer any fixed maturity amount. Your returns depend on the market performance of the funds in which you choose to invest. You can elect to allocate your premiums in debt or equity-based on your risk tolerance. With investments in the capital market, such plans bring the potential of substantial yields.
  • Guaranteed return plans invest in fixed income securities and are thus risk-free investment insurance.Growth of money is assured with no stress of market performance.
  • Money-back plans pay parts of the maturity benefits at pre-defined intervals. The remaining amount, along with bonuses, is paid at maturity. Thus, such policies can meet short-term liquidity needs.
  • Income plans provide monthly or yearly incomes while your capital keeps growing with bonus additions.

Why Should You Buy Savings and Investment Plans?

From luxury expenses like foreign holidays to necessary expenditures like children’s higher education, the need for funds are many. Effective arrangement for such funds necessitates planned investments. However, you may have to spend a large portion of your income on basic amenities and immediate needs. It may leave a very little surplus for future requirements. Therefore, financial experts advise that before you consume your entire salary on day-to-day expenses, you should set aside a sum for the future.

The problem arises when the amount that you can save regularly is small in comparison to the funds that you may need later. Herein lays the need for wealth building, which grows the money you put aside.A money-saving plan helps in increasing your savings over time so that enough capital accumulates when the need for funds arises. Here’s a look at reasons for buying such plans.

  • Savings for long-term financial goals
  • The longer you stay invested, the higher your wealth accumulates. Thus, a savings scheme can be the ideal tool to attain financial independence and meet every monetary requirement in life.

  • Security for family’s financial future
  • The life insurance element in the savings plans protects your loved ones against a financial crisis if you face any unwanted situation. The payouts act as replacements of your income when your earnings can no longer provide their living costs

  • Tax benefits
  • The premiums that you pay towards your savings and investment plan are tax-deductible under Section 80C of the 1961 Income Tax Act (ITA). The returns, both maturity benefits and death benefits, are also tax-exempt under the conditions of Section 10(10D) of the ITA. 

  • Lucrative returns with capital market investments and the power of compounding
  • Investment plans, particularly the market-linked ones like ULIP, offer the prospect of considerable profits. You can monitor your funds and switch among different asset classes. Thus, you can optimize your earnings and generate substantial returns. Moreover, with profits, investments like endowment policies increase in worth due to the compound effect of bonuses. Thus, the compounding of revenues, along with long-term savings, can fetch a sizeable profit.

  • The discipline of periodic savings
  • Since many such plans come with lock-in periods, these build the habit of saving without liquidating funds. It helps in the growth of funds without depleting savings and eases the strain of financial liabilities later in life.

  • Flexibility and liquidity
  • A money-savings plan provides features like

    • switching between invested funds as per risk appetite
    • partial withdrawal of funds
    • liquidity in the form of loans against the policy
    • multiple modes of premium payment according to your financial schedule

    Also, you can choose from guaranteed or market-linked options in line with your investment needs.

  • Effective defence from inflation
  • Systematic investments in the money market over a long period give your capital the time to stabilize and grow. Thus, you can assemble sufficient corpus that can shield you against inflation.

Here are some Savings and Investment Plans for Your Family

Kotak Assured Income Accelerator

  • A non-participating life insurance plan
  • Guaranteed yearly income during the payout phase
  • Income boosters to increase yearly returns
  • Death benefit independent of the income paid

Kotak Assured Savings Plan

  • Guaranteed annual additions to life cover
  • Loyalty additions at maturity

Kotak Premier Endowment Plan

  • Guaranteed additions
  • Aditional Protection through optional riders

Kotak Invest Maxima

  • Zero premium allocation charges
  • Choice of portfolio strategies and fund types
  • Multiple options for the policy term and the premium payment term
  • Partial withdrawals
  • Rewards on long-term investment

Kotak Premier Moneyback Plan

  • A participating plan
  • Payouts at regular intervals
  • A lump-sum amount at maturity
  • Bonus from the first year
  • Accidental death benefit

Kotak Classic Endowment Plan

  • Vested bonuses along with maturity benefits
  • Discounts on premium with high sum assured
  • Freedom for policy term selection

Kotak SmartLife Plan

  • A limited pay non-market-linked participating plan
  • Choice of bonus options between cash payout and addition to maturity proceeds

Kotak Premier Income Plan

  • Guaranteed annual income after the premium payment tenure
  • Enhanced life coverage on higher premiums and for females
  • Bonuses throughout the policy period

Kotak Sampoorn Bima Micro-Insurance Plan

  • A single premium of ₹200
  • Fixed 5-years’ term
  • Guaranteed payout
  • No medical tests

Kotak Single Invest Plus

  • Single premium policy
  • joint life cover for two family members
  • Loyalty additions after 10th policy year (for a 10-year term) and 15th year (for 15-year tenure)

Kotak Single Invest Advantage

  • One-time investment
  • Choice of 3 investment strategies
  • Loyalty additions on staying invested

Kotak Platinum Plan

  • Three fund-management strategy alternatives
  • Survival units as financial rewards
  • Limited premium payment term
  • Major part of premium contributed towards investment

POS Bachat Bima Plan

  • Guaranteed yearly additions
  • Two plan options – Life and Life Plus
  • Double life coverage on accidental death with Life Plus plan
  • Limited pay option

Kotak Guaranteed Savings Plan

  • Non-unit-linked and non-participating plan
  • Guaranteed additions from the end of premium payment term onwards
  • Option for limited premium payment term
  • Guaranteed loyalty addition after the policy tenure

Kotak Ace Investment

  • ULIP with choice of three investment strategies
  • Top-up premium facility
  • Multiple payment period options
  • Choice of a lump sum or periodic payouts after maturity

Kotak e-Invest

  • Zero Premium Allocation Charge
  • Return of Mortality Charges

Kotak Wealth Optima Plan

  • Choice of two investment strategies
  • Options to be covered for whole life

Kotak Premier Life Plan

  • Participating whole life plan
  • Simplerevisionary bonus

What are the features of Kotak Life savings and investment plans?

  • Savings and growth
  • If you are in search of a stable monetary foundation for your future regardless of your current financial condition, these plans provide the perfect means. 

  • Guaranteed payout
  • Most plans other than the market-linked varieties offer guaranteed sum assured.

  • Death benefits
  • These policies being life insurance plans offer payouts to your beneficiary in case of any eventuality. Such payments are usually independent of any previous payouts of bonuses.

  • Liquidity
  • You can avail of partial withdrawals on your funds or apply for loans against your policy.

  • Guaranteed income
  • Many plans guarantee extra annual revenues after the completion of the premium payment term

  • Increase in income
  • Some income plans offer income boosts and enhance the yearly proceeds during the payout phase.

  • Bonuses
  • Most plans offer yearly vested bonuses along with terminal bonuses at maturity.

  • Special rates
  • Women and investors who opt for higher premium amounts can enjoy enhanced sum assured.

  • Loyalty additions
  • Many participating plans offer financial rewards as loyalty additions on long-term investments, increasing the profits. Some ULIPs provide survival units in-lieu of such bonuses.

  • Minimal premium allocation charges
  • Some of the ULIPs provide zero or negligible fees for premium allotments, increasing the returns.

  • Limited pay option
  • Several plans offer the advantage of limited premium payment terms.

  • One-time investment options
  • Some plans offer the benefit of one-time expense through a single premium facility.

  • Freedom to switch funds
  • In ULIPs, you can shift your money over the different fund types based on the market outlook.

  • Top-up option
  • Some ULIPs provide the chance to purchase additional units with extra payments over the standard premium.

  • Multiple investment strategies
  • Choice of three portfolio strategies, age-based, self-managed, and systematic switching, align with your unique investment needs.

  • Money-back options
  • Several plans provide money-back opportunities for meeting interim needs for funds.

  • Discounts
  • If you choose a high sum assured, you can get discounts on the premium with some plans.

  • Unique plans for low-income groups
  • Specific plans offer low premiums and guaranteed payouts to benefit consumers with limited income.

  • Choice of payout options
  • A few of these plans provide the opportunity to take out accrued bonuses as cash payments or to let them accumulate until maturity.

What are the Benefits of Kotak Life Savings and Investment Plans?

Kotak Life enables you to personalize the protection as per your individual needs through riders. Some examples of such riders include:

  • Protectionr
  • Security for your family against financial crisis is the primary benefit of these policies. Some of these plans also guarantee returns on your investment, thereby protecting your capital.

  • Variety
  • Kotak offers a considerable assortment of savings and investment plans to cater to every financial need. You can select the one that best suits your age, budget, and long-term needs.

  • Cost-effective
  • The non-linked participating policies offer life insurance at low premiums. Thus, you can buy appropriate coverage at an affordable price without compromising with your current lifestyle.

  • Wealth enhancement
  • Kotak pays you guaranteed dividends on participating life insurance plans. Some plans accrue bonuses that increase your returns.

  • Customization
    • You can augment your coverage with multiple riders and personalize your policy per your individual needs.
    • Term rider provides additional payouts over and above the death benefit on the base plan.
    • Accidental death benefit rider offers extra payouts in case of accidents.
    • Permanent disability benefit rider offers 120% of the rider sum assured over five years if a permanent disability due to an accident occurs.
    • Guardian benefit riders waive off future premiums on death or total disability of the policyholder.
  • Multiple premium payment terms
  • You can choose from monthly, half-yearly, quarterly, and annual modes per your budget restraints. Single premium and limited payment options are also available.

  • Variable asset types for flexible investments
  • For unit-linked products, you can select from 6 fund types based on your enthusiasm for financial risks:

    • Aggressive growth fund
    • Bond fund
    • Balanced fund
    • Growth fund
    • Gilt fund
    • Floating rate fund

    You can switch your money across the funds in any proportion you prefer.

  • Minimal charges
  • The premium allocation costs are absent or low. Thus, the bulk of your money goes into your investments, generating extensive returns.

  • Choice of annuity options
  • You can claim your maturity benefits as a lump sum settlement or as regular income, paid annually or monthly.

  • Convenience
  • You can choose from different policy durations according to your financial plans.

  • Ease of paying premiums
  • You can pay your premiums and renew your policy online, without having to wait in queues and wasting time.

  • Tax benefits
  • All the policies fall under the purview of Section 80C and Section 10(10D) of the ITA.

How to calculate the premium for your savings and investment plans?

With Kotak Life Insurance, calculating the premium for your savings scheme is straightforward. The company has digitalized the calculation process by onboarding an online calculator. This facility has automated the procedure, removing the chances of manual errors. You can visit the web page  https://insurance.kotak.com/kotakWebBI/LandingPage.aspx. Next, you have to enter the category and the name of the product you plan to buy. After that, you have to furnish information like 

  • age
  • gender
  • income
  • preferred mode of premium payment
  • sum assured required
  • policy period
  • premium payment term
  • rider additions if any

The page will automatically display the accurate premium amount within a few seconds.

What are the Documents Required to Buy Savings and Investment Plans?

  • Age proof:
    • PAN Card
    • Aadhaar Card
    • Passport
    • Driving License
    • Voter ID
    • Birth Certificate
    • School or College Certificate
  • Identity Proof:
    • Aadhaar Card
    • Voter ID
    • Driving License
    • Passport
    • PAN Card
    • A letter with a photograph from a public servant or recognized public authority verifying your identity
  • Address Proof:
    • Aadhar Card
    • Voter ID
    • Passport
    • Ration Card
    • Utility bills of telephone or electricity
    • Bank Account Statement showing the address
    • Letter from a recognized public authority verifying the address
  • Income Proof:
    • Recent salary slip
    • Current Form 16 li>
    • Previous assessment year’s Income Tax Return or Assessment Order
    • Certificate from employer on company letterhead
  • Passport size photographs
  • Cancelled cheque
  • You will have to attach a photocopy of a cancelled cheque for the bank account where you wish to receive your payouts.

  • Medical reports
  • Reports of diagnostic tests about your health conditions might be needed.

Reasons to Choose Kotak Life for Your Savings and Investment Plans

Fast emerging as one of the leading life insurance companies in India, Kotak Life Insurance Company started its journey in 2001, covering over 20 million lives by 31st March 2018. As of 31st March 2019, the company had under its management assets amounting to ₹25936 crores. It offers a vast selection of investment plans. These tools enable you to create abundant resources according to your specific financial situation and monetary goals. The reasons that make Kotak products some of the best saving plans in India are as follows: 

  • The winner of multiple awards
    • FICCI Insurance Industry Awards honoured Kotak CEO Mr G Murlidhar with "Insurance CEO of the Year –Life Category" award in 2019.
    • In 2017 Kotak won Outlook Money Award for Life Insurance Provider of the Year
    • In the same year, i.e. 2017, the company was granted the silver medal for the Best Customer Engagement Campaign Award at DMAsia.

    All these accolades establish Kotak’s credibility as one of the best insurance providers in the country.

  • Consistent and high claim settlement ratio (CSR)
  • Kotak Life Insurance paid out 2959 claims in the financial year (FY) 2018-19, disbursing Rs. 137 crores in claims. The company scored a noteworthy CSR of 97.4% for the said FY2018-19. Since CSR is a definitive indicator of the dependability of an insurer about honouring claims, you can trust Kotak as a fruitful investment platform.

  • Option for judicious planning
  • Kotak lists the details of every plan in the official website, with the opportunity to download brochures. You can examine the risks and potentials of every scheme before making the payment. It also offers a free-look-in period to opt out of the plan if you find the policy incompatible to your needs.

  • A wide selection of plans
  • The investment insurance plans are available in numerous variants. These offerings suit every financial need from quick prosperity to securing the family’s finances.

  • Age of entry up to 65 years
  • The insurance provider offers some plans that people of advanced age, up to 65 years, can buy. Thus, the company meets the needs of every consumer age group.

  • Effortless management of policies
  • You may need services such as:

    • Registering your policy
    • Determining Net Asset Value or Fund Value as on date
    • Downloading unit-linked statement
    • Acquiring a premium paid certificate
    • Finding out the premium due date and amount due
    • You can access such services through the official website or SMS. You can also call on the customer service helpline or chat with the officials online about policy-related queries.

  • Quick turnaround time
  • Unless internal verifications are necessary, the insurer settles claims within 7 to 15 days of receiving all relevant documents.

  • Hassle-free claim process
  • Kotak offers a smooth claim settlement process that involves only claim intimation and document submission. You can initiate the process of filing claims directly through the online portal. This simplicity assures fast access to funds for your loved ones in their hours of need.

  • A compassionate and considerate approach
  • The company is always empathetic towards customers’ needs. For example, in the case of terrorist attacks, war, or natural disasters, the company fast tracks the claim resolution process. It ensures that your family receives funds immediately after their sudden loss

  • Transparency
  • Kotak declares fund performances every day and updates customers about market-related information through regular newsletters.

    Thus, when it comes to investment insurance, Kotak is a reliable choice.

FAQs

  • What are Savings and Investment Plans?

  • Who Should Invest in Savings and Investment Plans?

  • What is a Money Back Plan?

  • What is an Income Plan?

  • What are Guaranteed Savings Plans?

  • How to determine the perfect savings and investment plans for your needs?

  • Can I Save Tax with Savings and Investment plans?

  • What are the various savings and investment plans offered by Kotak Life?

  • How to buy the best savings and investment plan in India?

Our Term Insurance plans

Browse through the following plans to know more

  • Kotak Single Invest Plus

    Kotak Single Invest Plus is a single premium unit linked plan where, by just paying once, you can reap benefits and also stay protected.

  • Kotak POS Bachat Bima

    Kotak Life Insurance presents a simple savings and protection oriented plan, which provides all guaranteed benefits while giving life insurance cover – Kotak POS Bachat Bima.

  • Kotak Ace Investment

    Kotak Ace Investment Plan is designed with the clear objective of helping you accumulate wealth and provide you adequate life cover.

  • Kotak Assured Income Accelerator

    Kotak Assured Income Accelerator ensures that you get Guaranteed Income every year on the same amount of savings and that the Guaranteed Income increases year on year.

  • Kotak Premier Endowment Plan

    Kotak Premier Endowment Plan offers Guaranteed Additions in the first 5 policy years and also works to provide you a corpus through continued bonuses.

  • Kotak Premier Moneyback Plan

    Kotak Premier Moneyback Plan is a limited pay plan that provides lump sum payouts at regular intervals to meet your interim financial requirements and let you offer the best to your family.

  • Kotak Classic Endowment Plan

    Kotak Classic Endowment Plan is a long term protection cum savings plan that offers protection benefit while earning bonuses during the policy term.

  • Kotak Premier Income Plan

    Kotak Life Insurance presents Kotak Premier Income Plan a savings and protection oriented plan that provides Guaranteed Annual Income immediately after the premium payment term to provide you with an additional annual income.

  • Kotak SmartLife Plan

    A Limited Pay Non-Linked Participating Life Insurance plan. You earn and work hard to accomplish your dreams and aspirations at every stage of life.

  • Kotak Premier Life Plan

    Kotak Premier Life Plan is a limited premium paying participating whole life plan, where you can choose to receive bonus payouts even after premium payment term expires.

  • Kotak Wealth Optima Plan

    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.

  • Kotak Invest Maxima

    Kotak Invest Maxima is an investment oriented unit-linked life insurance plan with maximum premium allocation and a Systematic Switching Strategy that allows you to enter the equity market in a systematic manner.

  • Kotak Platinum Plan

    Kotak Platinum is an investment plan with an unmatched combination of three investment strategies and flexibilities for complete control over your investments.

  • Kotak Sampoorn Bima Micro-Insurance Plan

    Kotak Sampoorn Bima Micro Insurance Plan is a single premium plan with fixed term of 5 years to cater to the needs of low-income customers.

  • Kotak Guaranteed Savings Plan

    A Non-Linked Non-Participating Life Insurance plan

  • Kotak Single Invest Advantage

    Kotak Single Invest Advantage is a hassle-free unit linked plan, where you invest once and reap the benefits throughout the policy term.

  • Kotak e-Invest

    Kotak e-Invest - a comprehensive Unit Linked Life Insurance Plan that can be customized as per your goals and requirements.

  • Kotak Assured Savings Plan

    Kotak Assured Savings Plan is an affordable protection plan that enables you to accumulate wealth and strengthens your finances for the future.

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