Kotak Safe Investment Plan2
Kotak Safe Investment Plan2
Kotak Safe Investment Plan2
the benefits of insurance and capital market returns into one. This
plan from the stable of Kotak Life Insurance is a true reflection of the
company's essence: innovation that will benefit the investor.
Kotak What makes investing in Kotak Safe Investment Plan II truly unique is
that you enjoy a Guaranteed Maturity Value on your investment, with
Safe Investment Plan II varying degrees of equity exposure depending on your risk appetite.
So, if the market value of your units is higher, you reap the benefits,
with the peace of mind that whilst in a bear market your investment is
under-pinned and safe by the Guaranteed Maturity Value. And
there's more, the returns are totally tax-free*.
Please note that in this policy, the investment risk in the investment
portfolio is to be borne by the policyholder. However, Kotak Life
Insurance offers you a Guaranteed Maturity Value on this plan to
safeguard against the downside risk of falling markets.
Eligibility There is no surrender allowed in the first 3 policy years. Thereafter the
charge is 3% in year 4, 2% in year 5, 1% in year 6 and 0% from year 7
Entry age for the life Min - 0 years, Max - 65 years onwards. No surrender charges apply to the Supplementary Account.
to be insured Two withdrawals a year are free (including after maturity). Thereafter
Term Min - 10 years, Max - 30 years Rs. 500 per withdrawal is charged.
Maturity Age Max - 75 years
Regular Premium Min - Rs.10,000 annually Switching Charge
Limited Premium Payment Min - Rs. 50000 annually
The first four switches in a year are free. Rs 500 will be charged for
Limited Premium Payment Term 3 pay for 10 year policy term
5, 6, 7 pay for 10 to 15 years policy term every additional switch.
10 & 15 pay for policy term of Mortality Charge
15 years and above
Top-up premiums / Partial Min - Rs. 10,000 This is the cost of life cover and will be levied by cancellation of units
Withdrawals on a monthly basis.
Miscellaneous Charges
Other Terms
The charges for alteration in policy contract (such as change in sum
Loans : No loan facility assured, change in policy term, change in premium mode, etc.) are
Rs. 500/-. For premium redirection a fee of Rs. 100/- will be charged.
Lapses : Where the premiums for the first three Policy Years are not
paid within the grace period, the policy together with the rider Please note, in the event of experience being worse than expected,
benefits, shall lapse from the due date of unpaid premiums. A lapsed the Company reserves its right to impose charges not beyond the
policy can be revived within 2 years of the date of lapse by payment of level mentioned below:
arrears of premiums with interest and collection charges. • The Fund Management and Administration charges may be
Policy Revivals : The policy may be revived within 2 years from the increased in future but only if a change takes place for all the
date of the first unpaid premium by making payment of the arrears of participants in that Fund and on prior written notice to the
premiums with interest and collection charges. Any revivals after six policyholder.
months from the due date of unpaid premium will require production
of evidence of good health.
• The Annual Fund Management charges would not increase Dubai and Mauritius. The Group services over 1.6 million customer
beyond 40% of the initial level. accounts.
• The administration charge will not be increased by more than For our customers, this joint venture translates into a company, which
40% from the original level, for the first 10 years and 100% after combines international expertise in insurance, advice and fund
10 years. management with an understanding of the local market.
• The surrender charge on Supplementary Account may be General Exclusion:
increased to a maximum of up to 5% of the value of units after In case the life insured commits suicide during the first year of the
the third policy year.
plan, the beneficiary would receive the prevailing value of units in the
• The switching and withdrawal charges may be increased to a Main & Supplementary Account.
maximum of Rs. 1000.
Prohibition of rebates:
Risk Factors Section 41 of the Insurance Act, 1938 states:-
(1) No person shall allow or offer to allow, either directly or
• Unit Linked Life Insurance products are different from the indirectly, as an inducement to any person to take out or renew
traditional insurance products and are subject to the risk factors. or continue an insurance in respect of any kind of risk relating to
• The premium paid in Unit Linked Life Insurance policies are lives or property in India, any rebate of the whole or part of the
subject to investment risks associated with capital markets and commission payable or any rebate of the premium shown on the
the NAVs of the units may go up or down based on the policy, nor shall any person taking out or renewing or continuing
performance of fund and factors influencing the capital market a policy accept any rebate, except such rebate as may be allowed
and the insured is responsible for his/her decisions. in accordance with the published prospectuses or tables of
• Kotak Mahindra Old Mutual Life Insurance Ltd. is only the name the insurer.
of the Insurance Company and Kotak Safe Investment Plan II is (2) Any person making default in complying with the provision of
only the name of the unit linked life insurance contract and does this section shall be punishable with fine, which may extend to
not in any way indicate the quality of the contract, its future five hundred rupees.
prospects or returns. The various funds offered under this
contract are the names of the funds and do not in any
way indicate the quality of these plans, their future prospects
and returns.
• Please know the associated risks and the applicable charges, Contact details
from your Insurance agent or the Intermediary or policy Ahmedabad : 55315000-4 Gandhidham : 574903-04 Mumbai :
Aurangabad : 6610251-75 Guwahati : 2340672-75 - Head Office : 66635000
document of the insurer. Bangalore : Hyderabad : - Raghuvanshi : 66635353
- Residency Road : 56635000 - Begumpet : 23412929/39 - Churchgate : 66541000
- Rajaji Nagar : 56628000-5 - Secunderabad : 55205000 - Andheri : 66765000
About us Baroda : 5575000 Indore : 4027181-5 - Chembur : 67995000
Bharuch : 645247 Jaipur : 2371627-30 Nadiad : 5540311-13
Kotak Life Insurance is a joint venture between Old Mutual plc. and Bhavnagar : 6451056-58 Jamnagar : 5545000 Nagpur : 6618761-64
Kotak Mahindra. Bhopal : 4008800-05 Jodhpur : 2632901/2 Nashik : 6605000-4
Chandigarh : 5087000 Kanpur : 2331184-7 Palanpur : 261911-2
Old Mutual plc. is a London-listed Fortune 500 international Chennai : Karnal : 2268671/73 Pune : 66055000
- Ceebros Centre : 42101122 Kolhapur : 6685000 Rajkot : 5525000
financial services group focusing on asset gathering and asset - Teynapet : 42000100 Kolkata : Surat :
management. At 31 December 2005, Old Mutual had more than 7 Cochin : 2377611-14 - Chowringhee : 22881799 -Parle Point : 5589200-3
Coimbatore : 5502211 - Gariahat : 24617711 -Adajan : 5555550
million life assurance policies, 3.6 million banking customers and over Delhi : - Kakurgachi : 23648606-09 Thane : 67925000
550,000 general insurance policies. Its funds under management - Bhikaji Kama : 41595000 - Apeejay House : 22093000 Trichy : 4002010/55
exceeded $310 billion. The Group has a substantial presence in the - Pitampura : 45195000 Lucknow : 2625770/59 Valsad : 645822-23
- Ambadeep : 41795000 Ludhiana : 5089643-47 Vapi : 5545820-23
UK, US and South African markets. It further expanded its European - Gurgaon : 4025000-30
presence through the acquisition of Skandia in early 2006.
1
Established in 1984, the Kotak Mahindra group has long been one
of India's most reputed financial organizations. Kotak Mahindra
today is one of India's leading financial institutions, offering
complete financial solutions that encompass every sphere of life. The
group has a net worth of over Rs. 2,500 crore, employs around 6,700 * You are advised to consult your tax advisor for details.Form No: KSIP03. Kotak Mahindra Old
Mutual Life Insurance Ltd.Regn.No.: 107 Regd. Office: 6th Floor, Peninsula Chambers, Peninsula
people in its various businesses and has a distribution network of Corporate Park, Ganpatrao Kadam Marg, Lower Parel (W), Mumbai 400 013.Website:
branches, franchisees, representative offices and satellite offices www.kotaklifeinsurance.com, Email : [email protected] is the subject matter of the
solicitation. This is a non-participating plan. The product brochure gives only the salient features of
across 250 cities and towns in India and offices in New York, London, the plan. Please refer to the policy document for detail on all terms and conditions relating to the
Kotak Safe Investment Plan II