Kotak Headstart Child Assure is a unit-linked dual benefits plan to help secure your child's future financial needs and ensure that plans do not go awry, given you may not always be there to help.
Eligibility Criteria |
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Minimum |
Maximum |
Entry Age |
18Years |
60 Years |
Max age of Maturity |
28 Years |
70 Years |
Policy Term |
10 years |
25 Years |
Premium Paying Term |
Regular |
Equal to policy term |
Limited |
5 years with 10 years policy term |
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10 years available with policy terms 15 to 25 years |
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Regular Premium |
Min: Rs. 20,000 p.a. |
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Limited Premium |
For 5 year LPP |
Rs. 50,000 p.a |
For 10 year LPP |
Rs. 20,000 p.a |
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Basic Sum Assured |
Entry age of less than 45 yrs |
Min : Higher of (10 X AP) or |
Entry age of 45 yrs and above |
Min : Higher of (7 X AP) or (0.25 X Policy Term X AP) Max : 25 x AP |
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Max: 25 X AP |
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Notes: AP = Annual Premium |
Maturity Benefits:- At maturity you can take the full Fund Value to meet the financial needs of your child. You can also select to receive the maturity proceeds partly in cash and the balance by way of installments, for up 7 to 5 years after maturity, by choosing our Settlement Option.
Death Benefits:- Basic Sum Assured plus Fund Value is subject to a minimum of 105% of total premiums paid less applicable Partial Withdrawals up to time of death.
Flexible withdrawals:- The financial requirements for your children would change from time to time and you require a child savings plan that is flexible. With this plan, you can access the investment after completion of 2 the 5th policy year through Partial Withdrawals.
Investment Funds:-
Fund Options | Investment Objective | Risk-Return Profile | Equity | Debt | Money Market |
Classic Opportunities Fund (ULIF-033-16/12/09- CLAOPPFND-107) | Aims to maximize opportunity for you through long-term capital growth, by holding a significant portion in a diversified and flexible mix of large / medium sized company equities. | Aggressive | 75%-100% | 0%-25% | 0%-25% |
Frontline Equity Fund (ULIF-034-17/12/09- FRLEQUFND-107) | Aims for a high level of capital growth for you, by holding a significant portion in large sized company equities. | Aggressive | 60%-100% | 0%-40% | 0%-40% |
Balanced Fund (ULIF-037-21/12/09- BALKFND-107) | Aims for moderate growth for you by holding a diversified mix of equities and fixed interest instruments. | Moderate | 30%- 60% | 20%-70% | 0%-40% |
Dynamic Bond Fund (ULIF-015-15/04/04- DYBNDFND-107) | Aims to preserve your capital by investing in high quality corporate bonds and generating relatively higher fixed returns | Conservative | - | 60%-100% | 0%-40% |
Dynamic Floating Rate Fund (ULIF-020-07/12/04- DYFLTRFND-107) | Aims to minimize the downside of interest rate risk for you by investing in floating rate debt instruments that give returns in line with interest rate movements. | Conservative | - | 60%-100% | 0%-40% |
Dynamic Gilt Fund (ULIF-006-27/06/03- DYGLTFND-107) | Aims to provide safety to your capital by investing in Govt. Securities where default risk is close to zero. | Conservative | - | 80%-100% | 0%-20% |
Money Market Fund (ULIF-041-05/01/10- MNMKKFND-107) | Aims to protect your capital and not have downside risks. | Secure | - | - | 100% |
Partial Withdrawal Benefit:-
Discontinuance of policy:-
Policy Revival:-
Loan:- Avail a loan if required, subject to conditions
Switching/Premium Re-direction:- Switch between fund options or change your future premium allocation as per your needs and investment objectives to maximize your returns.
Settlement Options:-
Charges |
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Fund Management Charges |
The annual FMC of all the funds offered in this plan is 1.35% p.a |
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Notes: Annual charge is levied as a percentage of the Fund Value and is adjusted in the Net Asset Value (NAV) on daily basis. |
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Premium Allocation Charges |
The charges are applicable until the end of premium payment term: |
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Premiums |
Policy Year |
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1 |
2 - 5 |
6 onwards |
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Rs.20,000 to Rs.1,99,999 |
6% |
3% |
2% |
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Rs.2,00,000 to Rs.9,99,999 |
5% |
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Rs. 10,00,000 & above |
4% |
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Premium Administration Charges |
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Annualized Premium |
Administration Charge |
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Rs. 20,000 to Rs. 9,99,999 |
0.25% p.m. subject to a maximum of Rs.500 per month |
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Rs. 10,00,000 and above |
Nil |
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Mortality Charge |
Given below are the charges per thousand Sum at Risk for a healthy individual. |
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Age Years |
25 |
35 |
45 |
55 |
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Mortality Charges |
1.266 |
1.496 |
2.923 |
7.75 |
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Notes: *Sum at Risk = Higher of (105% of all premiums paid less Applicable Partial Withdrawals, Basic |
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Policy discontinuance year |
For Premiums |
For Premiums above Rs. 25,000 p.a |
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1 |
Lower of 20%* of (AP or FV ) |
Lower of 6%* of (AP or FV) |
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2 |
Lower of 15%* of (AP or FV) |
Lower of 4%* of (AP or FV) |
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3 |
Lower of 10%* of (AP or FV) |
Lower of 3%* of (AP or FV) |
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4 |
Lower of 5%* of (AP or FV) |
Lower of 2%* of (AP or FV) |
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5th onwards |
Nil |
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Notes: AP= Annualized Premium; FV= Fund Value on the date of discontinuance |
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Switching |
The first two switches in a year are free. |
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Thereafter a charge of Rs. 500 will be applicable for each additional switch. |
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Partial Withdrawal Benefit |
For each Partial Withdrawal in any policy year Rs. 500 will be charged. |
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Miscellaneous Charges |
The charges for alteration in the policy contract is Rs. 500 per request |
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For premium redirection, a fee of Rs. 100 will be charged |
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Rider Charge |
For providing the additional rider benefits (if opted for), charges will be recovered by way of additional unit deductions from the Fund Value each month throughout the rider term. |
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If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of issuance of the Policy, the Policy shall be void and the Company will only be liable to pay the premiums paid till date.
Kotak Mahindra Old Mutual Life Insurance Ltd is a joint venture between Kotak Mahindra Bank Ltd., its affiliates, and Old Mutual. Kotak Mahindra is one of India's leading banking and financial services organizations, offering a wide range of financial services that encompass every sphere of life. Old Mutual is an international long-term savings, protection and investment group.
Robinhood is known for its user & customer centric approach. We take care of all the phases of insurance, whether you've bought the policy from us or not.