Kotak Platinum ULIP Plan

Kotak Platinum - ULIP is a powerful unit-linked plans that is a great plan not only as a life insurance investment but also as a regular investment tool, allowing the insured to use strategies with various strategic options available at their disposal, for an overall profitable long-term investment. This is a unit linked insurance plan with a variation of investment avenues that are beneficial for the nominees as well as the insured.

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The is a powerful unit-linked plans that is a great plan not only as a life insurance investment but also as a regular investment tool, allowing the insured to use strategies with various strategic options available at their disposal, for an overall profitable long-term investment. This is a unit linked insurance plan with a variation of investment avenues that are beneficial for the nominees as well as the insured.

Eligibility Conditions for Kotak Platinum - ULIP

Entry Age	Minimum: 0 years, Maximum: 65 years (i.e. 60 years for limited pay)
Maturity Age	Minimum: 18 years, Maximum: 75 years
Policy Term	10 to 30 years. Note that the minimum policy term will be higher of 10 or 18 minus age as on the date of commencement, for minors.
Premium Payment Term (PPT)	For Regular Pay: Same as policy term For Limited Pay: Five years along with ten years policy term or ten years with fifteen to thirty years policy term
Payment Mode	Monthly, quarterly, half-yearly or annually
Annual Premium - Regular & Limited Pay	Minimum: Annual-` Rs.99,000, Half-Yearly- Rs.49,500 , Quarterly-Rs.24,750 and Monthly - Rs.8,250 Maximum: No restrictions
Basic Sum Assured	For Regular Pay: (AP: Annualized Premium )
	Less than 45 years = Minimum: Greater of 10 times AP or 0.5* Policy Term * AP; Maximum: 25 times AP
	45 years = Minimum: Greater of Greater of 7 times AP or 0.25* Policy Term* AP; Maximum: 25 times AP
	46 - 55 years = Minimum: Greater of 7 times AP or 0.25* Policy Term* AP; Maximum: 15 times AP
	56 - 60 years = Minimum: Greater of 7 times AP or 0.25* Policy Term* AP; Maximum: 10 times AP
	61 years and above = 7 times AP
	Limited Pay: (AP: Annualized Premium )
	Less than 45 years = Minimum: Greater of 10 times AP or 0.5* Policy Term * AP; Maximum: 15 times AP
	45 years = Min: Greater of Greater of 7 times AP or 0.25Policy Term AP; Maximum: 15 times AP •
	46 years – 50 years = Minimum: Greater of 7 times AP or 0.25* Policy Term* AP; Maximum: 15 times AP except for 5 PPT which is 10 times AP
	51 years - 60 years = Minimum: Greater of 7 times AP or 0.25* Policy Term* AP; Maximum: 10 times AP except for 5 PPT which is 7 times AP
Top-up Premium	Minimum: Rs.10,000 Maximum: The sum of Top-Up premium paid must not exceed the sum of all the regular premiums paid at the moment.

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Key Features of Kotak Platinum - ULIP

The following are notable key features of this product from :

Plan Type	Unit-linked insurance plan
Basis	Individual policy
Policy Term	10 to 30 years. Note that the minimum policy term will be higher of 10 or 18 minus age as on the date of commencement, for minors.
Policy Validity	Will be for the chosen policy term in case all premiums have been paid
Top up Sum Assured (TSA)	Less than 45 years (last birthday): 1.25 X Top-Up Premium and 45 years (last birthday) and above: 1.10 X Top-Up Premium
Coverage	Death Cover: In the event of death nominees are entitled to: Greatest of the following:
	Basic Sum Assured less applicable partial withdrawal amount from Main Account (if any), or
	105% of the Premiums paid till the time of death, or
	Fund Value in the Main Account
	Additional Benefit on Death Coverage: Based Top-Up Premium paid, highest of:
	Top-Up Sum Assured or
	105% of the Premiums paid till the time of death, or
	Fund Value in the Top-Up Account, if any
	Maturity Benefit: The Fund Value that are inclusive of the Survival Units which includes Fund Value in Top-Up Account(s)i.e. if any will be paid as maturity benefit. Insured can also take the Fund Value as a 7 lump sum and terminate the policy OR choose the Settlement Option .
	3 investment strategies for the Insured
	The extra Survival Units at the end of 10th policy year and every 5 years thereafter.
	Additional protection through a choice of 2 riders
Settlement Option	There is a settlement option to be paid maturity benefit via lump sum payment or in the form of installments
Reinstatement or revival	A insured has can choose for revival options upto the expiration date of the Notice Period. The insured can revive a discontinued policy within 2 years from the date of discontinuity and any discontinuance charge will be reversed. All benefits will be revived including the features, strategies, policy premium, etc.

Benefits of Kotak Platinum - ULIP

The following are major benefits from the Kotak Life plan:

3 Investment Strategies: There are three strategies that can be used to invest through ULIP which includes self managed strategy that allows individuals to invest on funds on their own.Age based strategy is useful for people who do not have the time or expertise to manage investing or the systematic switching strategy for exhaustive investment options in equity to be invested on systematically.
Nominal Charges: the plan has nominal charges to make sure that 95% to 98.5% of premium payment for maximum returns.
Additional Survival Units: Extra survival units are given at the end of the tenth policy year and every 5 year after that. The Survival units are calculated as 2% of the average Fund Value that is in the Main Account in the last three years.
Settlement Option: Insured can get maturity benefit through lump sum payment or in the form of installments via settlement option.
Accidental Death and Permanent Disability Benefit Riders to choose from.
Partial Withdrawals can also be made during the policy term period.
Tax Benefits: Tax benefits can be availed under Section 80C and Section 10 (10D) of Income Tax Act, 1961.

Funds To Be Invested in Kotak Platinum ULIPs

Fund Name	Objective	Risk Return Profile
Classic Opportunities Fund (ULIF-033-16/12/09- CLAOPPFND-107)	Intends on maximizing opportunity to allow growth of long term capital via holding a significant percentage in a varied and flexible mix of equities belonging to large or medium sized companies.	Aggressive
Frontline Equity Fund (ULIF-034-17/12/09- FRLEQUFND-107)	Intends to enhance a greater level of capital growth with investing in equities of large sized companies.	Aggressive
Balanced Fund (ULIF-037-21/12/09- BALKFND-107)	Intends for moderate growth by holding a mix of equities as well as fixed interest instruments.	Moderate
Dynamic Bond Fund (ULIF-015-15/04/04- DYBNDFND-107)	Intends on preservation of capital by investments in high quality corporate bonds allowing the generation of greater fixed returns	Conservative
Dynamic Floating Rate Fund (ULIF-020-07/12/04- DYFLTRFND-107)	Intends to reduce the downside of interest rate risk through investment in floating rate debt instruments that at par with interest rate movements	Conservative
Dynamic Gilt Fund (ULIF-006-27/06/03- DYGLTFND-107)	Intends to provide a safety and security to capital by investments in Govt. Securities. There are barely any default risk in Govt. Securities.	Conservative
Money Market Fund (ULIF-041-05/01/10- MNMKKFND-107)	Dedicated to securing capital without any downside risks.	Secure

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Charges for the Kotak Platinum ULIP

Here are the most important charges that may be levied on your Kotak platinum ULIP:

Premium Allocation Charges: This is chargeable as a percentage of the premium. The net premium is then based at the Net Asset 8 Value (NAV) that prevails on the date of receipt of premiums.
Policy Administration Charges: This is a portion of the 1st year’s annualized premium and which will be recovered via monthly unit cancellation.
Fund Management Charges: The annual FMC of the funds in this plan are:
1. Classic Opportunities Fund @ 1.35% p.a
2. Frontline Equity Fund @ 1.35% p.a
3. Balanced Fund @ 1.35% p.a
4. Dynamic Bond Fund @ 1.20% p.a.
5. Dynamic Floating Rate Fund @ 1.20% p.a.
6. Dynamic Gilt Fund @ 1.00% p.a.
7. Money Market Fund @ 0.60% p.a.
8. Discontinued Policy Fund @ 0.50% p.a.
Switching Charges: The first 12 switches are not charged at all. However, after that, each switch is chargeable at Rs.250.
Partial withdrawal Charges: Rs. 250 will be charged for every partial withdrawal made.
Discontinuance Charges: The Discontinuance Charges are levied on the Main Account and are based on term year and age of insured.
Mortality Charges: This is chargeable for cover, that is charged by cancelling units on a monthly basis.
Miscellaneous Charges:
1. Replacement of policy document per request: Rs.500
2. Alteration in Basic Sum Assured per request: Rs. 500
3. Premium redirection: Rs.100
4. cheque dishonor, each: Rs.250

Riders Available for Kotak Platinum ULIP

There are 2 riders available for this plan:

Kotak Accidental Death Benefit Rider (Linked): In the case of demise caused by accident an added sum will be given equal to the sum assured for the rider, besides the death benefit.
Kotak Permanent Disability Benefit Rider (Linked): In case of complete or permanent disability of the policyholder due to accident, the Rider Sum Assured is entitled to the insured while the base policy continues.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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