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Kotak Life

Kotak Single Invest Plus Plan

Kotak Life Insurance presents Kotak Single Invest Plus Plan – A non-linked and nonparticipating immediate annuity plan that gives you the assurance of regular stream of income throughout your lifetime life.
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Kotak Life insurance review

Kotak Life Insurance plans
Distribution - Number of branches pan India (March 2019)
244
Entry Age Minimum/Maximum (Years) - Term Plans
18/65
Sum Assured Minimum / Maximum - Term Plans
25 lacs / Unlimited
Policy Term Minimum / Maximum (Years) - Terms Plans
5/40
Solvency Ratio (FY 2018-19) *
3.02
Number of Policies Sold (Ind+Group) *
316,150
Number of Lives Covered (Ind+Group) **
15,530,695
Claims Settlement Ratio (Ind+Group) ***
99.01%
* - As per IRDAI data 2018-19 - The solvency ratio of an insurance company is the size of its capital relative to all the risk it has taken, which is all liabilities subtracted from total assets. In other words, solvency is a measurement of how much the company has in assets versus how much it owes
** - as per L-25 Public Disclosure of Insurance Companies for 2019-20  |  *** - Claims Settlement Ratio = Claims Settled in the year / Claims Reported in the year - as per IRDAI data published

Kotak Single Invest Plus Plan Overview

  • Key Features
  • Eligibility

Key features of Kotak Single Invest Plus Plan

  • This is a Single Premium Unit Linked Insurance Plan
  • There is no Premium Allocation Charge in this plan
  • There is a facility of Joint Life Coverage in this plan for close relationships like Spouse, Parent and Child or Grandparent and Grandchild
  • There is Loyalty Additions in this plan at the end of 10 year for a policy of 10 year term and at the end of 10 and 15 year for a Policy of 15 year term but for premium size of Rs 50,000 or more
  • There is 2 fold death benefit in this plan- 1.25 X the Single Premium is paid as Death Benefit on death of fist Life Insured and higher of 10 X Single Premium or Fund Value + Loyalty Additions on death of Second Life Insured
  • On survival of either of two lives to the end of the policy term, the Fund Value + Loyalty Additions would be paid as Maturity Benefit

Eligibility Criteria of Kotak Single Invest Plus Plan

Minimum Maximum
Sum Assured (in Rs.) 1st Death : 1.25 X the Single Premium
2nd Death: 10 X the Single Premium
Policy Term (in years) 10 15
Premium Payment Term (in years) Single
Entry Age of Primary Life Insured (in years) 18 60
Age at Maturity of Primary Life Insured (in years) 28 70
Entry Age of Secondary Life Insured (in years) 3 60
Age at Maturity of Secondary Life Insured (in years) 13 75
Single Premium (in Rs.) 30,000 No Limit
Payment modes Single

Brochure

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Policy wordings

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CIN: U66000KA2018PTC117713 | IRDAI Web aggregator License Code Number: IRDAI / INT / WBA /53/ 2018, Valid till 07/08/2025