To offer one time payment to 12 switches benefits for investors
Kotak Life Insurance has launched its Kotak Single Invest plan that is a unit linked plan, wherein a single premium enables the policy holder the benefits of insurance and investment throughout the policy term.
The plan offers from one time payment to 12 switches in a policy year for investors. The product also offers liquidity and high allocation of investments which translates into returns. The allocation can be between 97.75% and 99% depending upon the size of single premium invested.
The company said that along with tax benefits, the new unit linked plan has fund options to match each investors risk profile and investment objective. The options that have been included are the opportunities fund that provides long term capital growth by investing in diversified and flexible mix of large/medium sized company equities.
Gaurang Shah, managing director of Kotak Life Insurance, said: “We are delighted to bring our new offering – Kotak Single Invest to our customers. The plan offers investors the benefits of one time investment supplemented with easy liquidity, well defined fund options and higher allocation of premium to generate the best returns based on risk appetite. Kotak Single Invest is an intelligent addition to our product suite. It reinforces our philosophy of delivering innovative and pragmatic financial solutions to our customers.”