Kotak Invest Maxima

Investment Funds

Fund Name & Objective

Asset Allocation

Risk Profile

Classic Opportunities Fund

Equity

75 – 100%

Aggressive

Debt (Including Money Market Instruments*)

0-25%

Frontline Equity Fund

Equity

60 – 100%

Aggressive 

Debt (Including Money Market Instruments*)

0-40%

Balanced Fund

Equity

30%- 60%

Moderate

Debt (Including Money
Market Instruments*)

40%-70%

Dynamic Floor Fund II

Equity

0 – 75%

Conservative

Debt (Including Money Market Instruments*)

25 – 100%

Money Market Fund

Equity

 – 

Secure

Debt Securities

100%

Money Market

Partial Withdrawal Benefit

Be able to meet any sudden or unforeseen expenses, from the 6th year onwards

Minimum amount for partial withdrawal is Rs. 10,000

Discontinuance of policy

In the event of unforeseen financial condition, you can decide to discontinue the policy

Discontinuance of policy within first 4 policy years will attract Discontinuance Charges, and the benefits will only be paid at the end of the 5th year. No Discontinuance charges apply after the 4th policy year

Plan benefits on discontinuance during lock-in period of 5 years: 

For Regular and Limited premium payment options:

Fund Value of the policy after deduction of discontinuance charges will be credited to the Discontinued Policy Fund.

 Current rate is 4% p.a.. The proceeds of the discontinued policy will be refunded only after completion of the lock-in period for five years or revival period whichever is later, except in case of death where it will be paid out immediately.

For Single premium payment option:

Fund Value of the policy will be credited to the Discontinued Policy Fund

Current rate is 4% p.a. till the end of lock-in period of five years. The proceeds of the discontinued policy will be refunded only after completion of the lock-in period of five years, except in case of death where it will be paid out immediately.

Plan benefits on discontinuance after the lock-in period of 5 years:

For Regular & Limited premium payment option

If the policyholder opts to revive the policy within 2 years from the date of discontinuance of premium, the policy is deemed to be in force with risk cover and applicable charges will be levied during such period.

In case the policyholder opts to convert the policy into paid-up with Reduced Paid-Up Sum Assured (Basic Sum Assured X Total premium paid / Total premiums payable), the policy will be converted into a paid-up policy and policy will continue without payment of premiums till the end of the policy term.

For Single premium payment option:

Policy ends and the proceeds i.e. the Fund Value in Main and Top-Up Account (if any) will become payable immediately.

Plan benefit in case of death of the Life Insured within the lock-in period: 

Proceeds of the Discontinued Policy Fund (which is subject to a minimum interest rate specified by Insurance Regulatory and Development Authority (IRDA)), till the date of intimation of death, will be paid immediately.

Discontinued Policy Fund

Fund Options

Risk-Return Profile

Investment Pattern

Discontinued Policy Fund
(ULIF-050-23/03/11-
DISPOLFND-107)

Secure

Money market: 0% to 100%

Government securities: 0% to
100%

Notes: The asset categories under the discontinued policy fund may vary in future in line with relevant IRDA Regulations / Circulars.

Policy Revival

This is applicable only for Regular and Limited premium payment option. Policyholder has the option to choose for revival options until the expiry of the Notice Period. 

 All benefits will be reinstated on revival, subject to underwriting.

The outstanding premium paid less the applicable allocation &
admin charges along with Discontinued Policy Fund value with discontinuance charge reversed will be used for purchasing the units of the segregated fund(s). 

Top-Up Premium

Increase your investment contribution as and when you have surplus money

No Top-Ups will be allowed during the last five years of the policy term. 

Loan

Avail of a loan if required, subject to conditions

Increase / Decrease in
Basic Sum Assured

Alter your Basic Sum Assured to keep your cover relevant (on policy anniversaries, subject to limits).

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

The three options are:

Entire maturity proceeds as an immediate payout in one go OR

Part of the maturity proceeds as a lump sum and part as installments OR

Whole amount as installments 

At the end of Settlement Period, the balance in the Main Account and Top-Up Account(s), if any will be paid out as one lump sum and the policy will cease thereafter.