A single premium enables the policy holder to take advantage of the benefits of insurance and investment throughout the policy term
Kotak Mahindra Old Mutual Life Insurance has introduced its Kotak Single Invest plan, in which a single premium enables the policy holder to take advantage of the benefits of insurance and investment throughout the policy term – reported The Economic Times.
Kotak Single Invest is intended to offer convenience to investors, a one-time payment to 12 free switches in a policy year. The product provides easy liquidity and high allocation of investments which translates into higher potential of returns.
The allocation can be between 97.75% and 99% depending upon the size of single Premium invested. Along with tax benefits, Kotak Single Invest has a suite of fund options to match each investors risk profile and investment objective.
The options are opportunities Fund providing an opportunity for long term capital growth by investing in a mix of large/medium sized company equities. The second option is the dynamic Floor Fund, embedded investment advice in one single fund. The final one dynamic Bond Fund suited for the risk averse investor whose priority is capital preservation, as quoted in the newspaper.