Kotak Life Insurance launched unit-linked Invest Maxima

Private insurer Kotak Life Insurance today launched Invest Maxima, an investment oriented Unit Linked Insurance Plan (ULIP).

The plan offers zero premium allocation charge feature that maximises the investible component and the choice of three different portfolio management strategies which affords customers tremendous flexibility in managing their portfolio, Kotak Mahindra Old Mutual Life Insurance said in a release issued here.

Customers are given the flexibility to choose from two options, one which offers a choice of five attractive fund options, or the other that enables them to invest in the equity market in a systematic manner over a period of time or a customized combination of the two.

In the last policy year, customers can choose to exit the policy in a secure and systematic manner, by selecting the Systematic Exit Strategy option, which gradually diverts all fund balances into a lower risk money market fund, to avoid volatility and safeguard returns on maturity.

Apart from regular premium payment option, the plan also offers limited and single premium payment options.

The minimum age is 0 years and the maximum age is 65 years.

The maturity of the plan is minimum 10 years and the maximum is 75 years.

There are three premium options, in regular the minimum amount is Rs 50,000, in limited Rs 75,000 and in single premium it is Rs 1, 00,000.

Kotak Mahindra Old Mutual Life Insurance is a 74:26 joint venture between Kotak Mahindra Bank, its affiliates and South Africa's Old Mutual, which is also listed on the London Stock Exchange.

The plan will provide tax benefits to customers.

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Life Insurance | Health Insurance | Ulips | Term Plan