Kotak e-Invest - a comprehensive Unit Linked Life Insurance Plan that can be customized as per your goals and requirements. Click here to know more about it.
ULIP - Buy High Return ULIP Policy Online in India | HDFC LifeLisaDavid26
This document summarizes a unit-linked insurance plan from HDFC Life. Key highlights include:
- The plan offers three options - Invest Plus, Premium Waiver, and Golden Years Benefit.
- Premiums can be paid regularly or as a lump sum. Fund value grows based on investment performance.
- Death benefit is highest of sum assured, fund value, or total premiums paid. Premium waiver option waives future premiums on proposer's death.
- Plan has lock-in period of 5 years during which partial withdrawals and policy discontinuance rules apply.
ULIP - Buy High Return ULIP Policy Online in India | HDFC LifeLisaDavid26
Click2Wealth is a high return ULIP plan by HDFC Life which offers premium waiver benefit, tax benefits and whole life coverage with golden years benefit option. Buy Now!
Max Life Whole Life Super, a life insurance plan in which you
pay premiums for only a limited number of years and enjoy protection up to the age 100 years.
Whole Life Super Brochure - Maxlife Insurancesagar057
This 3 sentence summary provides the high level information about the document:
The document is a product brochure that describes the Max Life Whole Life Super plan, a traditional participating whole life insurance plan that provides lifetime guaranteed life insurance coverage up to age 100. The plan offers flexible premium payment terms and bonus options, and allows policyholders to access funds through partial withdrawals or surrender. The brochure provides details on plan benefits, premiums, bonuses, surrenders and riders available under the Max Life Whole Life Super plan.
1. HDFC Life Uday is a traditional non-linked life insurance plan that provides savings, protection and bonuses.
2. Key features include guaranteed additions of 3% annually for 5 years, reversionary bonuses declared yearly, and accidental death benefit.
3. The plan offers multiple premium and policy term options. On death, the nominee receives the sum assured plus bonuses or 105% of premiums paid, whichever is higher. On maturity, the policyholder receives the sum assured plus all accrued bonuses.
The document summarizes a unit-linked pension plan called BSLI Empower Pension Plan offered by Birla Sun Life Insurance. The key details are:
1. It allows customers to save for retirement through regular premium payments over 5-30 years. Premiums are invested in funds to build a retirement corpus.
2. At retirement (vesting date), the customer can use the corpus to purchase a lifelong pension stream or make withdrawals within tax-free limits.
3. The plan provides guaranteed additions to the fund value from the 6th policy year onwards. It also guarantees a minimum vesting benefit based on premiums paid and years to vesting.
4. Death and surrender benefits are also
Aegon Life iGuarantee Max Savings Brochure.pdfAegon Life
At various junctures of life, you would need to achieve several goals, small or big, like buying your first vehicle to funding a child’s education or a peaceful retirement. The list could be endless but chalking out these goals at different points in your life, and the finances needed to achieve them is necessary. Therefore, choosing a flexible savings life insurance plan is imperative which not only helps you achieve those goals, but also keeps your family financially secured in case you are not around. To help you with this, we at Aegon Life bring to you ‘Aegon Life iGuarantee Max Savings’, an insurance plan that offers you more than just the steady growth of your corpus while simultaneously helps you in achieving the milestones and safeguarding your family against unfortunate events
Whole Life Participating Insurance - Max Life Insurancesagar057
This document summarizes a whole life insurance plan called Max Life Whole Life Super offered by Max Life Insurance. The key features include:
1. It provides guaranteed lifetime protection up to age 100, with the life cover amount increasing through bonuses over time.
2. The premium payment term can be chosen as 10, 15, or 20 years. Bonuses can be received in cash, used to offset future premiums, or purchase additional sum assured.
3. The plan offers flexibility such as partial withdrawals from the paid-up additions, and additional protection through optional riders.
4. The death benefit pays out the higher of guaranteed amounts or sums assured, along with bonuses. Surrender value is pay
ULIP - Buy High Return ULIP Policy Online in India | HDFC LifeLisaDavid26
This document summarizes a unit-linked insurance plan from HDFC Life. Key highlights include:
- The plan offers three options - Invest Plus, Premium Waiver, and Golden Years Benefit.
- Premiums can be paid regularly or as a lump sum. Fund value grows based on investment performance.
- Death benefit is highest of sum assured, fund value, or total premiums paid. Premium waiver option waives future premiums on proposer's death.
- Plan has lock-in period of 5 years during which partial withdrawals and policy discontinuance rules apply.
ULIP - Buy High Return ULIP Policy Online in India | HDFC LifeLisaDavid26
Click2Wealth is a high return ULIP plan by HDFC Life which offers premium waiver benefit, tax benefits and whole life coverage with golden years benefit option. Buy Now!
Max Life Whole Life Super, a life insurance plan in which you
pay premiums for only a limited number of years and enjoy protection up to the age 100 years.
Whole Life Super Brochure - Maxlife Insurancesagar057
This 3 sentence summary provides the high level information about the document:
The document is a product brochure that describes the Max Life Whole Life Super plan, a traditional participating whole life insurance plan that provides lifetime guaranteed life insurance coverage up to age 100. The plan offers flexible premium payment terms and bonus options, and allows policyholders to access funds through partial withdrawals or surrender. The brochure provides details on plan benefits, premiums, bonuses, surrenders and riders available under the Max Life Whole Life Super plan.
1. HDFC Life Uday is a traditional non-linked life insurance plan that provides savings, protection and bonuses.
2. Key features include guaranteed additions of 3% annually for 5 years, reversionary bonuses declared yearly, and accidental death benefit.
3. The plan offers multiple premium and policy term options. On death, the nominee receives the sum assured plus bonuses or 105% of premiums paid, whichever is higher. On maturity, the policyholder receives the sum assured plus all accrued bonuses.
The document summarizes a unit-linked pension plan called BSLI Empower Pension Plan offered by Birla Sun Life Insurance. The key details are:
1. It allows customers to save for retirement through regular premium payments over 5-30 years. Premiums are invested in funds to build a retirement corpus.
2. At retirement (vesting date), the customer can use the corpus to purchase a lifelong pension stream or make withdrawals within tax-free limits.
3. The plan provides guaranteed additions to the fund value from the 6th policy year onwards. It also guarantees a minimum vesting benefit based on premiums paid and years to vesting.
4. Death and surrender benefits are also
Aegon Life iGuarantee Max Savings Brochure.pdfAegon Life
At various junctures of life, you would need to achieve several goals, small or big, like buying your first vehicle to funding a child’s education or a peaceful retirement. The list could be endless but chalking out these goals at different points in your life, and the finances needed to achieve them is necessary. Therefore, choosing a flexible savings life insurance plan is imperative which not only helps you achieve those goals, but also keeps your family financially secured in case you are not around. To help you with this, we at Aegon Life bring to you ‘Aegon Life iGuarantee Max Savings’, an insurance plan that offers you more than just the steady growth of your corpus while simultaneously helps you in achieving the milestones and safeguarding your family against unfortunate events
Whole Life Participating Insurance - Max Life Insurancesagar057
This document summarizes a whole life insurance plan called Max Life Whole Life Super offered by Max Life Insurance. The key features include:
1. It provides guaranteed lifetime protection up to age 100, with the life cover amount increasing through bonuses over time.
2. The premium payment term can be chosen as 10, 15, or 20 years. Bonuses can be received in cash, used to offset future premiums, or purchase additional sum assured.
3. The plan offers flexibility such as partial withdrawals from the paid-up additions, and additional protection through optional riders.
4. The death benefit pays out the higher of guaranteed amounts or sums assured, along with bonuses. Surrender value is pay
E-Brochure For Kotak Assured Savings Plan - Kotak LifeShaunakPatel19
Kotak Assured Savings Plan provides reasonable insurance, but it also assists in the accumulation of money for future financial goals by providing assured rewards.
This document provides information on LIC policies for parents with handicapped children. It summarizes two LIC policies - Jeevan Adhar and Jeevan Vishwas.
Jeevan Adhar provides life insurance cover for the purchaser (parent) throughout their lifetime. Benefits are meant for the handicapped dependent and include a lump sum payment and annuity. Jeevan Vishwas is an endowment plan where sums assured plus bonuses are used to provide the dependent an annuity or lump sum upon the policyholder's death or maturity. Both policies require dependents to meet section 80DDA conditions and provide tax benefits to parents.
This document summarizes an ICICI Pru life insurance plan called ICICI Pru Smart Kid Regular Premium that provides guaranteed educational benefits for a child. The plan offers a lump sum payment of the sum assured plus future premium payments if the parent dies. It also provides development allowances annually for the child and covers accident and disability risks. The plan guarantees educational payouts for the child at key milestones like college or provides benefits in the last 5 years of the policy. It requires regular premium payments but provides tax benefits under Indian law.
This document summarizes an ICICI Pru life insurance plan called ICICI Pru Smart Kid Regular Premium that provides guaranteed educational benefits for a child. The plan offers a lump sum payment of the sum assured plus future premium payments if the parent dies. It also provides development allowances annually for the child and covers accident and disability risks. The plan guarantees educational payouts for the child at key milestones like college or provides benefits in the last 5 years of the policy. It requires regular premium payments but provides tax benefits under Indian law.
Max Life’s Forever Young Pension Plan provides the benefits of offers a guarantee to protect your savings from market downturns. It also offers additional benefits to safeguard your family against unforeseen eventualities so that you and your loved ones live life on your own terms.
This document summarizes the key benefits of the Reliance Child Plan, a participating child insurance plan. The plan provides guaranteed benefits to the child at important milestones like higher education, marriage, business setup etc. even if the policyholder is not present. The benefits include guaranteed periodic payouts on the last 3 policy anniversaries before maturity and guaranteed sum assured at maturity. In case of unfortunate death of the policyholder, all future premiums are waived and guaranteed benefits continue for the family. The plan offers life cover, tax benefits, and non-negative capital guarantee.
This document provides frequently asked questions (FAQs) about the Shiksha Plus Super plan, an internal training document for a life insurance company. It covers basic features of the plan such as eligibility ages, premium amounts, investment options, benefits like death benefit and maturity benefit, policy discontinuance including surrender, and other features like switches and partial withdrawals. The FAQs provide concise answers to questions about the key aspects of the plan for internal training purposes.
Systematic Retirement Plans allow you to save systematically & give the flexibility to choose your premium payment term. Click here to buy a systematic pension policy online.
This document summarizes an annuity plan that allows customers to save systematically for retirement and receive guaranteed lifelong income. Key features include:
- Guaranteed annuity rates once the policy is purchased
- Option to receive income monthly, quarterly, or annually for life
- Premiums can be paid over 5-15 years, with income payments starting upon choosing a deferment period
- Income payments are guaranteed for life regardless of investment performance
This document summarizes a savings insurance plan from Tata AIA Life Insurance called Smart Growth Plus. The key features include guaranteed additions of 5.5% of the sum assured annually for the first 5 years. Policyholders can choose from an endowment or endowment with accidental death benefit option. Benefits include guaranteed additions, maturity payout, and bonuses in the form of compound reversionary bonuses and terminal bonuses calculated based on policy term, sum assured, age, and premiums paid. A hypothetical benefit illustration for a 25 year term policy issued at age 25 is provided.
ICICI Prudential Life Insurance provides various insurance plans, including money back policies and ICICI Pru Cash Advantage. The money back policy provides life coverage and maturity benefits paid out over 20-25 years. ICICI Pru Cash Advantage offers guaranteed monthly cash benefits during the payout period, guaranteed maturity benefits, life coverage, and limited premium payment periods of 5-10 years. It works by calculating guaranteed cash and maturity benefits based on factors like premiums, sum assured, age, and gender. Benefits include death and maturity payouts, with loans and revival options also available under certain conditions.
This document summarizes the key details of LIC's Saral Jeevan Bima plan, which is a non-participating, individual pure risk premium life insurance plan. It provides a lump sum payment to the insured's family if the insured dies during the policy term. The plan offers death benefit coverage and has eligibility conditions such as a minimum sum assured of Rs. 5 lakhs and maximum of Rs. 25 lakhs. Premiums can be paid regularly or as a single premium. On the insured's death during the policy term, the nominee receives the sum assured. No maturity benefits are provided under this plan.
This document describes the Kotak Assured Income Accelerator guaranteed income anticipated endowment insurance plan. Some key points:
- It offers a guaranteed increasing income every year during the payout period, with income boosters increasing the guaranteed income by 5-7% annually.
- Death benefits are paid irrespective of any guaranteed income already paid. Guaranteed maturity benefits are also provided.
- Customers pay annual premiums for the selected premium payment term, after which the guaranteed increasing income is paid out each year until maturity.
- Riders can be added for additional protection. Premiums qualify for tax benefits under Indian law.
Planning for the old age when the ability to earn diminishes while the expenses to live a dignified and healthy life start rising is of utmost importance.
Arun, a 40-year-old sales manager, has received a bonus and wants to invest it for retirement. He is unsure whether to invest in equities due to market volatility or choose another option like ICICI Pru Easy Retirement SP. The ICICI Pru Easy Retirement SP allows investment in funds with equity participation while providing downside protection of capital. It has two phases - an accumulation phase where premium is paid once and a pension is accumulated, and an income phase where annuity options are available. The policy provides benefits like assured returns, loyalty additions, pension boosters, and death benefits.
Income reward sales aid 1412 ukv5 income1_v10_final-2Brian Boyd
The Secure Advantage+ plan from AXA Life Europe is a pension plan designed to help investors achieve three financial objectives: 1) A guaranteed lifetime income, 2) Investment choice and income flexibility, and 3) Ability to pass on remaining wealth. The plan offers a lifetime income benefit guaranteeing income for life as well as potential investment growth opportunities and flexibility to take income or lump sums as needed in retirement.
This document provides information about life insurance policies in India. It discusses different types of life insurance policies like term insurance, whole life insurance, endowment policies, money back plans, children's policies, annuity plans, and unit linked insurance plans. It also answers frequently asked questions about life insurance policies, including how premiums, surrender values, and claims are calculated for conventional and unit linked policies. The document aims to educate policyholders about various aspects of life insurance.
This document summarizes a non-participating unit linked single premium life insurance plan called the Wealth Builder Plan offered by SUD Life. Key highlights include:
- The plan allows investment in 4 different funds with minimum allocation of 10% to each fund.
- Benefits include life insurance coverage and potential returns on investment in funds.
- Single premium amount ranges from Rs. 100,000 to Rs. 100 crores. Sum assured is a multiple of premium amount depending on entry age.
- Plan offers partial withdrawals, fund switching, and top-up options to enhance flexibility.
The document describes two types of pension plans - Jeevan Akshay V and New Jeevan Suraksha-1. Jeevan Akshay V is an immediate annuity plan that provides lifetime annuity payments in return for a lump sum purchase. It offers options for the type, amount, and payment frequency of annuities. New Jeevan Suraksha-1 is a deferred annuity plan that allows savings to be annuitized after a set term, and offers death benefits, bonuses, and surrender values. The document provides details on benefits, premiums, taxation, and payout options for both plans.
"Kotak Life proudly presents “Kotak Fortune Maximiser”, a limited pay
participating endowment plan, which can be customized as per your
requirement to help you plan for a better future through multiple plan,
payout & rider options. "
Kotak Health Shield Brochure Feb 2022.pdfviralAgarwal
The document provides information about the Kotak Health Shield insurance plan, which offers financial protection for critical illnesses like cancer, cardiac issues, liver disease, neurological conditions, and accidents. The summary plan provides lump sum payouts for diagnosis of early or major stages of covered critical illnesses. It also offers benefits like waiver of premium, daily hospital cash, and income benefit as optional riders. The document explains the various plan options available under the policy and details of the payouts under each plan for minor and major illnesses or conditions.
E-Brochure For Kotak Assured Savings Plan - Kotak LifeShaunakPatel19
Kotak Assured Savings Plan provides reasonable insurance, but it also assists in the accumulation of money for future financial goals by providing assured rewards.
This document provides information on LIC policies for parents with handicapped children. It summarizes two LIC policies - Jeevan Adhar and Jeevan Vishwas.
Jeevan Adhar provides life insurance cover for the purchaser (parent) throughout their lifetime. Benefits are meant for the handicapped dependent and include a lump sum payment and annuity. Jeevan Vishwas is an endowment plan where sums assured plus bonuses are used to provide the dependent an annuity or lump sum upon the policyholder's death or maturity. Both policies require dependents to meet section 80DDA conditions and provide tax benefits to parents.
This document summarizes an ICICI Pru life insurance plan called ICICI Pru Smart Kid Regular Premium that provides guaranteed educational benefits for a child. The plan offers a lump sum payment of the sum assured plus future premium payments if the parent dies. It also provides development allowances annually for the child and covers accident and disability risks. The plan guarantees educational payouts for the child at key milestones like college or provides benefits in the last 5 years of the policy. It requires regular premium payments but provides tax benefits under Indian law.
This document summarizes an ICICI Pru life insurance plan called ICICI Pru Smart Kid Regular Premium that provides guaranteed educational benefits for a child. The plan offers a lump sum payment of the sum assured plus future premium payments if the parent dies. It also provides development allowances annually for the child and covers accident and disability risks. The plan guarantees educational payouts for the child at key milestones like college or provides benefits in the last 5 years of the policy. It requires regular premium payments but provides tax benefits under Indian law.
Max Life’s Forever Young Pension Plan provides the benefits of offers a guarantee to protect your savings from market downturns. It also offers additional benefits to safeguard your family against unforeseen eventualities so that you and your loved ones live life on your own terms.
This document summarizes the key benefits of the Reliance Child Plan, a participating child insurance plan. The plan provides guaranteed benefits to the child at important milestones like higher education, marriage, business setup etc. even if the policyholder is not present. The benefits include guaranteed periodic payouts on the last 3 policy anniversaries before maturity and guaranteed sum assured at maturity. In case of unfortunate death of the policyholder, all future premiums are waived and guaranteed benefits continue for the family. The plan offers life cover, tax benefits, and non-negative capital guarantee.
This document provides frequently asked questions (FAQs) about the Shiksha Plus Super plan, an internal training document for a life insurance company. It covers basic features of the plan such as eligibility ages, premium amounts, investment options, benefits like death benefit and maturity benefit, policy discontinuance including surrender, and other features like switches and partial withdrawals. The FAQs provide concise answers to questions about the key aspects of the plan for internal training purposes.
Systematic Retirement Plans allow you to save systematically & give the flexibility to choose your premium payment term. Click here to buy a systematic pension policy online.
This document summarizes an annuity plan that allows customers to save systematically for retirement and receive guaranteed lifelong income. Key features include:
- Guaranteed annuity rates once the policy is purchased
- Option to receive income monthly, quarterly, or annually for life
- Premiums can be paid over 5-15 years, with income payments starting upon choosing a deferment period
- Income payments are guaranteed for life regardless of investment performance
This document summarizes a savings insurance plan from Tata AIA Life Insurance called Smart Growth Plus. The key features include guaranteed additions of 5.5% of the sum assured annually for the first 5 years. Policyholders can choose from an endowment or endowment with accidental death benefit option. Benefits include guaranteed additions, maturity payout, and bonuses in the form of compound reversionary bonuses and terminal bonuses calculated based on policy term, sum assured, age, and premiums paid. A hypothetical benefit illustration for a 25 year term policy issued at age 25 is provided.
ICICI Prudential Life Insurance provides various insurance plans, including money back policies and ICICI Pru Cash Advantage. The money back policy provides life coverage and maturity benefits paid out over 20-25 years. ICICI Pru Cash Advantage offers guaranteed monthly cash benefits during the payout period, guaranteed maturity benefits, life coverage, and limited premium payment periods of 5-10 years. It works by calculating guaranteed cash and maturity benefits based on factors like premiums, sum assured, age, and gender. Benefits include death and maturity payouts, with loans and revival options also available under certain conditions.
This document summarizes the key details of LIC's Saral Jeevan Bima plan, which is a non-participating, individual pure risk premium life insurance plan. It provides a lump sum payment to the insured's family if the insured dies during the policy term. The plan offers death benefit coverage and has eligibility conditions such as a minimum sum assured of Rs. 5 lakhs and maximum of Rs. 25 lakhs. Premiums can be paid regularly or as a single premium. On the insured's death during the policy term, the nominee receives the sum assured. No maturity benefits are provided under this plan.
This document describes the Kotak Assured Income Accelerator guaranteed income anticipated endowment insurance plan. Some key points:
- It offers a guaranteed increasing income every year during the payout period, with income boosters increasing the guaranteed income by 5-7% annually.
- Death benefits are paid irrespective of any guaranteed income already paid. Guaranteed maturity benefits are also provided.
- Customers pay annual premiums for the selected premium payment term, after which the guaranteed increasing income is paid out each year until maturity.
- Riders can be added for additional protection. Premiums qualify for tax benefits under Indian law.
Planning for the old age when the ability to earn diminishes while the expenses to live a dignified and healthy life start rising is of utmost importance.
Arun, a 40-year-old sales manager, has received a bonus and wants to invest it for retirement. He is unsure whether to invest in equities due to market volatility or choose another option like ICICI Pru Easy Retirement SP. The ICICI Pru Easy Retirement SP allows investment in funds with equity participation while providing downside protection of capital. It has two phases - an accumulation phase where premium is paid once and a pension is accumulated, and an income phase where annuity options are available. The policy provides benefits like assured returns, loyalty additions, pension boosters, and death benefits.
Income reward sales aid 1412 ukv5 income1_v10_final-2Brian Boyd
The Secure Advantage+ plan from AXA Life Europe is a pension plan designed to help investors achieve three financial objectives: 1) A guaranteed lifetime income, 2) Investment choice and income flexibility, and 3) Ability to pass on remaining wealth. The plan offers a lifetime income benefit guaranteeing income for life as well as potential investment growth opportunities and flexibility to take income or lump sums as needed in retirement.
This document provides information about life insurance policies in India. It discusses different types of life insurance policies like term insurance, whole life insurance, endowment policies, money back plans, children's policies, annuity plans, and unit linked insurance plans. It also answers frequently asked questions about life insurance policies, including how premiums, surrender values, and claims are calculated for conventional and unit linked policies. The document aims to educate policyholders about various aspects of life insurance.
This document summarizes a non-participating unit linked single premium life insurance plan called the Wealth Builder Plan offered by SUD Life. Key highlights include:
- The plan allows investment in 4 different funds with minimum allocation of 10% to each fund.
- Benefits include life insurance coverage and potential returns on investment in funds.
- Single premium amount ranges from Rs. 100,000 to Rs. 100 crores. Sum assured is a multiple of premium amount depending on entry age.
- Plan offers partial withdrawals, fund switching, and top-up options to enhance flexibility.
The document describes two types of pension plans - Jeevan Akshay V and New Jeevan Suraksha-1. Jeevan Akshay V is an immediate annuity plan that provides lifetime annuity payments in return for a lump sum purchase. It offers options for the type, amount, and payment frequency of annuities. New Jeevan Suraksha-1 is a deferred annuity plan that allows savings to be annuitized after a set term, and offers death benefits, bonuses, and surrender values. The document provides details on benefits, premiums, taxation, and payout options for both plans.
"Kotak Life proudly presents “Kotak Fortune Maximiser”, a limited pay
participating endowment plan, which can be customized as per your
requirement to help you plan for a better future through multiple plan,
payout & rider options. "
Kotak Health Shield Brochure Feb 2022.pdfviralAgarwal
The document provides information about the Kotak Health Shield insurance plan, which offers financial protection for critical illnesses like cancer, cardiac issues, liver disease, neurological conditions, and accidents. The summary plan provides lump sum payouts for diagnosis of early or major stages of covered critical illnesses. It also offers benefits like waiver of premium, daily hospital cash, and income benefit as optional riders. The document explains the various plan options available under the policy and details of the payouts under each plan for minor and major illnesses or conditions.
Kotak Secure Shield is a Benefit Product designed keeping this in mind to shield you & your family
against such adversities and provide a financial cushion.
"KOTAK CRITICAL ILLNESS PLUS BENEFIT RIDER"viralAgarwal
Kotak Critical Illness Plus Benefit Rider enables you to get the best treatment available and takes care of the indirect expenses while you recover from a critical illness or surgery.
E-Brochure for Kotak Premier Moneyback PlanviralAgarwal
"Kotak Premier Moneyback Plan is a Savings cum Insurance Plan that provides
lump-sum payouts at regular intervals. Refer to this brochure to know more."
Buy online Corona Kavach Health Insurance Policy for COVID-19 to safeguard your family members from hospitalisation expenses arising due to Coronavirus.
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
South Dakota State University degree offer diploma Transcriptynfqplhm
办理美国SDSU毕业证书制作南达科他州立大学假文凭定制Q微168899991做SDSU留信网教留服认证海牙认证改SDSU成绩单GPA做SDSU假学位证假文凭高仿毕业证GRE代考如何申请南达科他州立大学South Dakota State University degree offer diploma Transcript
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...Donc Test
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
Confirmation of Payee (CoP) is a vital security measure adopted by financial institutions and payment service providers. Its core purpose is to confirm that the recipient’s name matches the information provided by the sender during a banking transaction, ensuring that funds are transferred to the correct payment account.
Confirmation of Payee was built to tackle the increasing numbers of APP Fraud and in the landscape of UK banking, the spectre of APP fraud looms large. In 2022, over £1.2 billion was stolen by fraudsters through authorised and unauthorised fraud, equivalent to more than £2,300 every minute. This statistic emphasises the urgent need for robust security measures like CoP. While over £1.2 billion was stolen through fraud in 2022, there was an eight per cent reduction compared to 2021 which highlights the positive outcomes obtained from the implementation of Confirmation of Payee. The number of fraud cases across the UK also decreased by four per cent to nearly three million cases during the same period; latest statistics from UK Finance.
In essence, Confirmation of Payee plays a pivotal role in digital banking, guaranteeing the flawless execution of banking transactions. It stands as a guardian against fraud and misallocation, demonstrating the commitment of financial institutions to safeguard their clients’ assets. The next time you engage in a banking transaction, remember the invaluable role of CoP in ensuring the security of your financial interests.
For more details, you can visit https://technoxander.com.
The Impact of Generative AI and 4th Industrial RevolutionPaolo Maresca
This infographic explores the transformative power of Generative AI, a key driver of the 4th Industrial Revolution. Discover how Generative AI is revolutionizing industries, accelerating innovation, and shaping the future of work.
The Impact of Generative AI and 4th Industrial Revolution
Kotak e-Invest Plan
1. Individual, Unit-Linked, Non-Par, Endowment Life Insurance Plan
e-Invest
The Unit Linked Insurance Products do not offer any liquidity during the first five years of the contract.
The policyholder will not be able to withdraw or surrender the monies invested in Unit Linked Insurance
Productscompletelyorpartially tilltheendofthefifthyearfrominception.
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER.
2. Kotak e-Invest
Individual, Unit-Linked, Non-Par, Endowment Life Insurance Plan
You have your goals set in life and are working hard to achieve them. In this
journey, it is important that your hard earned money is invested in the right
funds at minimal cost. Keeping this in mind, Kotak Life Insurance introduces
Kotak e-Invest - a comprehensive Unit Linked Life Insurance Plan that can be
customizedasperyourgoalsandrequirements.
To take care of various needs, we have designed an insurance plan that can be
customizedtomeetyourneeds-whether itisprotection; investment;financial
security for child; retirement planning – this is an all in one solution. The plan
offers cover to financially support your family in case of your unfortunate
demise. As a responsible parent, ‘Rising Star’ plan option ensures your child’s
future is not compromised in your absence. Benefits under ‘Retire Rich’ option
ensure your lifestyle is not compromised even after you call it a day at work.
These, along with unmatched combination of strategies and flexibilities
ensureyourgoalsareachievednomatterwhat.
1
3. 2
KeyAdvantages
• 100%allocationofyourpremiums
th
• Yearly Additions starting from end of 6 policy year onwards till maturity
ordeathwhicheverisearlierbasedontheplanoptions.
• 25% to 200% of Life Cover charges deducted will be added to your fund
value(ifapplicable).
• Rising Star option offers Triple Protection Benefit on parent’s death
through lump sum payout, monthly income and policy continuation till
maturity
• RetireRichOptioncovertilltheageof99years
• Retirement Income along with Income Booster ensures your expenses
afterRetirementaretakencareof
• ProvidesflexibilitytochoosefromtwoInvestmentStrategies
• Optionofadditionalprotectionthroughoptional riders
Thisoption isaimedatmaximizingyourreturnsforthemoneyinvested.
This option is ideal for you as a parent to fulfill your Child’s dreams,
aspirations and goals. While the money invested will help to maximize
your earnings, the earnings are not compromised in case of your
unfortunate demise. As death benefit, Basic Sum Assured under the plan
is paid as lump sum to your child who will be the Beneficiary (or the
Appointee in case the Child is a minor) in the Plan. In addition to this,
Monthly Income for the remaining policy term (minimum of 36 months
and maximum of 120 months) ensures a Regular Income to your family.
Furthermore, Company waives off all future premiums and Policy
continues till Maturity. The Yearly Additions will continue to be applicable.
Atmaturity,thecorpuswillbepaidtotheBeneficiary.
This option covers you till the age of 99 years. You have an option to avail
Retirement Income in the form of Systematic Withdrawal any time after
the policy anniversary immediately following completion of age of 60
years. Income Booster of additional 0.5% p.a. to the percentage you have
already selected for Retirement Income ensures you do not compromise
onyourlifestyleevenafterretirement.
PlanOptions
I. Maximizer:
II. RisingStar:
III. RetireRich:
4. 3
YearlyAdditions
ReturnofMortalityCharge(ROMC)
th
Starting from end of 6 Policy year, till maturity or death whichever is earlier,
3%ofAnnual PremiumisinfusedintotheFund attheendofeachpolicyyear.
1. The Yearly Additions shall be added to fund(s) based on the applicable
unit price(s), provided all due premiums have been paid in full and the
policyisin-force.
2. In case of any alteration done on premium, annual premium effective at
the beginning of the policy year is considered for calculation of yearly
additions.
3. In case of Rising Star Option, Yearly additions will be infused from end of
th
6 policy year onwards till maturity irrespective death of life insured
providedalltheduepremiumshavebeenpaidtillthedateofdeath.
On survival of Life Assured till Maturity, on the maturity date, a percentage
of the total amount of Mortality Charges deducted in respect of life cover
provided throughout the Policy Term will be added back to the Fund Value
based on the Policy Term chosen. The Percentage varies based on the Age
atEntry ofLifeAssuredandthePolicyTermchosen,asshownbelow:-
Note:
ForPlanOption–Maximizer
Age at Entry
<= 50 years
150%
160%
175%
200%
Age at Entry
51 - 55 years
50%
50%
50%
50%
Age at Entry
> 55 years
25%
25%
25%
25%
10 years
12 years
15 years
20 years
Policy Term
ROMC as % of Sum of mortality charges
ForRetireRichoption
th
At the end of policy year following 60 birthday of Life Assured, a % of total
amount of mortality charges deducted in respect of life cover till then will be
added back to the Fund Value. Such percentages vary based on number of
years completed as at the end of policy year coinciding or immediately
following 60thbirthday ofLifeAssured.
5. No. of years completed as on date of
ROMC infusion
10 -11 years
12 -14 years
15 -19 years
20 years & above
150%
160%
175%
200%
ROMC
ROMCisnotapplicableunderRisingStarplanoption.
• In order to take care of Retirement needs, Policyholder has an option to
receive income any time after the policy anniversary immediately
following completionof60yearsoftheLifeassured.
• Retirement Income is in the form of Systematic Withdrawals and will be
expressedasaPercentageoftheFund Value.
• Policyholder needs to choose any percentage ranging from 1 to 12% (in
multiples of 1%) and the Frequency of payment - yearly, half-yearly,
quarterly ormonthly.
• Policyholder has an option to choose the Retirement Income percentage,
30 days prior to start of Retirement Income, by intimating the company.
1. Retirement Income is a Systematic Withdrawal where no partial
withdrawalchargesareapplicable.
2. Retirement Income will be paid over the remaining Policy Term or till
the policyholder terminates the option, subject to availability of fund
and the policy being in force. The Fund Value after payment of
Retirement Income instalments should not drop below 105% of the
TotalPremiumspaidtilldate.
Note:
RetirementIncomeandIncomeBooster
Note:
1) The Benefit is not applicable in case of a Surrendered, Discontinued
or Reduced paid up policies. However, the benefit will be payable if all
duePremiumsunderthepolicyhave beenpaiduptodate.
2) ROMC Amount will be allocated to the fund(s) in the same proportion
oftheFund ValueasavailableontheduedateofROMC.
3) ROMC will be excluding any rider charge & extra mortality charge.
Goods and Services Tax & Cess levied on the charges will not be
addedback.Thetaxesaresubjecttochangesintaxlaws
4
6. 5
3. Once the Fund Value drops to 105% of Total premiums, the Retirement
Income terminates while the policy will still be in force. Policyholder
has an option to start the Income payout again once the Fund Value
grows beyond 105% of Total premiums by informing the Company 15
dayspriortonextpolicyanniversary.
4. The Income instalment will be paid by redeeming Units from the
funds in the same proportion as the Fund Value in each Fund and will
be redeemed at the Unit Price applicable on the date of each Income
instalment.
5. Partial Withdrawalsareallowedduring theRetirementIncomePeriod
also.
6. Policyholder has an option to change the percentage chosen or the
frequencyof payout anytimeduring thePolicyTermevenafterstart of
the Income payout by informing the Company 15 days prior to next
policy anniversary. Once the percentage is changed, the Income
booster will again start afresh. However, the Income booster will not
beaffectedbychangeinFrequencyofpayout.
7. Policyholder also has an option to exit out of the Retirement Income
option as well as to avail the option again during the Policy term. In
case of Policyholder wants to opt for Retirement Income again,
policyholder will need to intimate the Company 15 days prior to next
policyanniversary.
8. Given that the retirement income period starts after the end of lock-
in period, the Policyholder will also have the option to withdraw the
Fund Value completely as Surrender Benefit any time during the
RetirementIncomeperiod
9. Retirement Income is also applicable for In-force and Reduced Paid
Uppolicessubjecttothetermsandconditions mentionedabove.
10. Applicablechargesshallbedeductedduring thisperiod.Referpoint3
under Terms & Conditions for applicable charges for Reduced Paid-
Uppolicies.
This plan enables you to choose the funds that suit your risk-return profile. It
offers you the flexibility to choose from 2 Investment Strategies: (1) Self-
ManagedStrategyand(2)AgeBasedStrategy.
InvestmentStrategies
7. 6
1. Self-ManagedStrategy:
This strategy offers you the flexibility to choose from a wide range of fund
options that will help to maximize your earnings potential. The available
fund options will allow you to balance your risk profile with the tenure of
yourinvestment.
Conservative
Conservative
Dynamic Bond
Fund (ULIF-015-
15/04/04-
DYBNDFND-107)
Dynamic Floating
Rate Fund (ULIF-
020-07/12/04-
DYFLTRFND-
107)
Aims to preserve
capital by investing in
high quality corporate
bonds and generating
relatively higher fixed
returns
Aims to minimize the
downside of interest
rate risk by investing
in floating rate debt
instruments that
give returns in line
with interest rate
movements
-
-
60%-
100%
60%-
100%
0%-40%
0%-40%
Aims to maximize
opportunity for long
term capital growth,
by holding a
significant portion in a
diversified and flexible
mix of large / medium
sized company
equities.
Aims for a high level
of capital growth for
you, by holding a
significant portion in
large sized company
equities
Aims for moderate
growth for you by
holding a diversified mix
of equities and fixed
interest instruments.
Fund Options
Investment
Objective
Risk-Return
Profile
Equity Debt
Money
Market
Aggressive
Aggressive
Moderate
Classic
Opportunities
Fund (ULIF-033-
16/12/09-
CLAOPPFND-
107)
Frontline Equity
Fund (ULIF-034-
17/12/09-
FRLEQUFND-
107)
Balanced Fund
(ULIF-037-
21/12/09-
BALKFND-107)
75%-
100%
60%-
100%
30%-
60%
0%-25%
0%-40%
20%-
70%
0%-25%
0%-40%
0%-40%
8. 7
Money Market Fund (ULIF-041-05/01/10-MNMKKFND-107) is the
Default Fund in case of closure or modification of any fund offered under
thisproductunlessaspecificfund isoptedforbythePolicyholder.
Note: In the Scenario where the funds attached to the Product Kotak e-
Invest (UIN: 107L121V01) approved by the Board of the insurer, does not
comply with Regulation 8 of Schedule I of the IRDAI (Investment)
Regulations, 2016 read with the Master Circular – Investment issued
thereunder, the policyholder will be given a free switches to fund which
has similar fund objective / risk profile with same or lower fund
management charge (FMC) in compliance with Regulation 8 of Schedule I
oftheIRDAI(Investment)Regulations, 2016.
Also if there are no similar fund with similar risk profile, the Policyholders
will be given an option to choose from the following alternative funds with
sameorlowerFMC.
The switching can be made to the one of the following funds. The default
fund shallbeMoneyMarketFund.
Conservative
Secure
Dynamic Gilt
Fund (ULIF-006-
27/06/03-
DYGLTFND-107)
Money Market
Fund (ULIF-041-
05/01/10-
MNMKKFND-
107)
Aims to provide safety
to capital by investing
in Govt. Securities
where default risk is
close to zero
Aims to protect your
capital and not have
downside risks.
-
-
80%-
100%
-
0%-20%
100%
SFIN No
ULIF-034-17/12/09-FRLEQUFND-107
ULIF-033-16/12/09-CLAOPPFND-107
ULIF-015-15/04/04-DYBNDFND-107
ULIF-020-07/12/04-DYFLTRFND-107
ULIF-006-27/06/03-DYGLTFND-107
ULIF-037-21/12/09-BALKFND-107
ULIF-041-05/01/10-MNMKKFND-107
Frontline Equity Fund
Classic Opportunities Fund
Dynamic Bond Fund
Dynamic Floating Rate Fund
Dynamic Gilt Fund
Balanced Fund
Money Market Fund
Name of the Fund Risk Profile
Aggressive
Aggressive
Conservative
Conservative
Conservative
Moderate
Secure
9. 8
2. AgeBasedStrategy:
Financial requirements keep changing with age and your life stage, hence
your investments must be attuned to adapt to your changing needs. This
strategy is a unique and personalized strategy that will help you to create
an ideal balance between equity and debt, based on your age and risk
appetiteviz.Aggressive,ModerateandConservative.
Based on your age and chosen risk appetite, allocation is done between
ClassicOpportunities Fund andDynamicBond Fund.Thisstrategycannot
beoptedinthelastpolicyyear.
Following is the how the allocation happens between the funds with
progressinageundereachRiskAppetite:
Aggressive
Age of Life Insured (years)
0-25
26-35
36-45
46-50
51 onwards
80%
70%
60%
50%
40%
Classic Opportunities Fund Dynamic Bond Fund
20%
30%
40%
50%
60%
Age of Life Insured (years)
0-25
26-35
36-45
46-50
51 onwards
70%
60%
50%
40%
30%
Classic Opportunities Fund Dynamic Bond Fund
30%
40%
50%
60%
70%
Moderate
Age of Life Insured (years)
0-25
26-35
36-45
46-50
51 onwards
60%
50%
40%
30%
20%
Classic Opportunities Fund Dynamic Bond Fund
40%
50%
60%
70%
80%
Conservative
10. 9
In case you wish to change the Risk Appetite during the policy term, you can
do so only 4 times in a policy year free of cost through a written request which
shall be effective from next month-versary (monthly policy anniversary).
Whenever the Risk Appetite is changed, the fund allocation as per the opted
Risk Appetite chosen will continue till 1 policy year before maturity unless
changed.
IncaseofRisingStartoption:
Upon death of life Assured during the policy term the age based strategy will
be converted to self-managed strategy by default. The confirmation on the
funds to be invested in to be provided by the Nominee/Appointee (in case
nomineeisaminor)
On a monthly basis, units shall be rebalanced as necessary to achieve the
above proportions of the Fund Value in the identified funds. The re-
balancing of units shall be done on the month-versary (monthly policy
anniversary). The above proportions shall apply until the last 12 Policy
monthsareremaining.
As the Policy approaches the Maturity date, to ensure that short-term market
volatility does not affect the accumulated savings, the total corpus will be
transferred from the above funds to the Money Market Fund during last 12
Policymonthsinthemannerasmentionedbelow:
Monthlyrebalancing:
Safetyonmaturity:
12
1/1
Policy Month
Proportion of
units
transferred
11
1 2 3 4 5 6 7 8 9 10
1/12 1/11 1/10 1/9 1/8 1/7 1/6 1/5 1/4 1/3 1/2
The Policyholder shall also have the option to switch to Self-Managed
Strategy.
You have the option of increasing your protection cover with the following two
optional riders:
ByattachingKotak
Accidental Death Benefit Rider to the base plan, you can enhance the
existing protection available under base plan at minimal charge.In case of
Optionofadditionalprotectionthroughoptionalriders
1. KotakAccidentalDeathBenefitRider(Linked):
11. 10
unfortunate demise of the life insured due to accident* during the
Rider benefit term, Rider Sum Assured will become payable in addition to
the death benefit as per the base plan. Thereis no maturity benefit payable
underthisrider.
By attaching Kotak
Permanent Disability Benefit Rider to the base plan, you can enhance the
existing protection available under base plan at minimal charge.In case of
*
Total & Permanent disability of the life insured due to accident during the
Rider benefit term, the Rider Sum Assured is payable and the base
policycontinues.Thereisnomaturitybenefitpayableunderthisrider.
TheseridersarenotavailableforOnline&IMFChannel.
*
Accident is defined as “a sudden, unforeseen and involuntary event caused
byexternal,visibleandviolentmeans”.
Please refer to Terms and Condition #6 in this document; you can refer to the
respectiveRiderBrochuresformoredetails.
On Survival to the end of the policy term, if all premiums are paid up to date
and the policy is in force, Fund Value as on the date of Maturity (inclusive
ofROMCandYearlyAdditions ifany)shallbepayable.
The maturity proceeds in case Retire Rich will be paid as lumpsum only.
Pleasenotesettlementoption isnotavailableforRetireRichoption.
Fund Value as on the date of Maturity (inclusive of Yearly Additions) is
payable.
In case of Rising Star, Maturity Benefit is paid irrespective of survival of the
Life Insured if the due premiums have been paid till date of death. In the other
plan options, Maturity Benefit is paid subject to survival of Life
InsuredtillMaturity.
Maturity Benefit under Rising Star is paid as lump sum only while in case
of other plan options, you can opt to take your Fund Value as a lump sum and
terminateyourpolicyORyoucanselecttheSettlementOption.
2. Kotak Permanent Disability Benefit Rider (Linked):
ForPlanOptions:Maximizer/RetireRich
ForPlanOption:RisingStar
MaturityBenefit
12. 11
For further details on Settlement Option, please refer to Terms and Conditions
#7inthisdocument
In the event of death, where all due premiums have been paid, your family
wouldreceive:
Highestof:
2
• BasicSumAssuredlessapplicablepartial withdrawals (ifany),Or
• Fund Value(inclusiveofYearlyAdditions andROMC,ifany)
• 105%oftotalpremiumspaidtilldateofdeathlessapplicablepartial
2
withdrawal (ifany)
Thepolicyterminatesthereafter.
In case of death of Life Insured during the term of the policy, following benefits
areapplicable:-
1. Higher of (Basic Sum Assured or 105% of Total premiums paid till date of
death)lessApplicablepartial withdrawalsispaidaslumpsumPLUS
2. Regular Monthly Income (as mentioned below) over outstanding policy
term (subject to minimum 36 installments and maximum 120
installments).
3. Thepolicyremainsinforcebywaivingofallthefuturepremiums.Future
PremiumsareinfusedintotheFund asonthedateofClaimsettlement.
Regular Monthly Income starts from the next month after Lumpsum payment
andispaidasbelow:
• 1%ofBasicSumAssuredispaidmonthlytothebeneficiary starting from
the policy month-versary following the date of death, for outstanding
policy term (subject to minimum 36 installements and maximum 120
installements).
• The Beneficiary (Nominee/Appointee) has an option to avail future
Monthly Income as lump sum, discounted at 5% p.a. The discount rate
might change in future based on the Company’s decision subject to prior
approvalfromIRDAI.
The Policyis also eligible for Yearly Additions as and when it is applicable. The
policy continues to be in-force till Maturity without any death benefit. Policy
DeathBenefit
ForPlanOptionsMaximizer/RetireRich:
RisingStar
13. 12
Administration andFund Managementchargesshallbeapplicable.
Please note: For more details on applicable Partial Withdrawals, please refer
to the Point # 2 under Terms and Conditions and for details on Death Benefit
underreducedpaidupstatus,pleaserefertoPoint#4inthisdocument.
Tax benefits as under the Income-tax Act, 1961 would be applicable. Tax laws
are subject to amendments from time to time. Customer is advised to take an
independentviewfromtaxconsultant.
To allow your investment plan to keep pace with the changing times and
varying needsofyourfamily,youcanoptforsomeofouradditionalbenefits.
TaxBenefit
EnhancingyourOptions
2
Partial Withdrawals
Other Options Benefits
Be able to meet any sudden or unforeseen expenses, from
th
the 6 policy year onwards. Post lock-in period, the first
fourPartialWithdrawalsinthepolicycanbedoneforfree.
In the event of an unforeseen financial condition, you may
decide to discontinue the policy. Discontinuance of policy
th
before the 5 policy year will attract Discontinuance
Charges.
3
Discontinuance of policy
Switch between fund options or change future premium
allocation based on investment strategies as per your
needs and investment objectives to maximize your
returns.
Switching / Premium
Re-direction
You can alter your premium by decreasing it up to 50% of
original annual premium(on policy anniversary, subject to
limits). This can done only once during the policy term.
Once reduced, premium cannot be increased. The Basic
Sum Assured shall also be reduced accordingly (Revised
SA = Original SA * % reduction of Premium). This can be
doneonlyafterfirst5policyyears.
You can additionally increase the PPT and / or PT selected
initially to any other combination available in the product
(on policy anniversary, subject to limits) without any
change in premiums. This can done only once during the
policyterm.
Alteration in Basic Sum
Assured / Premium /
Premium Payment Term
(PPT)/PolicyTerm(PT)
Please refer to Terms and Conditions for Partial Withdrawal and
Discontinuanceinthisdocumentforfurther details.
14. Parameter
#
Entry Age
Plan Option
Eligibility Criteria
Minimum Maximum
Maximizer
Rising Star
Retire Rich
3 years
18 years
3 years
60 years
50 years
50 years
#
Maturity Age
Maximizer
Rising Star
Retire Rich
18 years
28 years
75 years
60 years
Fixed at 99 years age of Life Insured
Eligibility
Policy Term
Maximizer
Rising Star
Retire Rich 99 minus Entry Age of Life Insured
Plan Option
Policy Term
10 years / 12 years / 15 years / 20 years
Note:
1. ForMaximizerandRetireRich,theminimumpolicyterm
willbeequaltothesmallestavailabletermtoensurethat
theLifeInsuredisaMajoratthetimeofmaturity.For
exampleiftheLifeInsured’sageis7,minimumpolicyterm
availablewouldbe12years.
2. For Rising Star option, minimum policy term will be greater
of 10 years and 18 minus age last birthday of the
Beneficiary on the date of commencement, to ensure that
the policy matures when the beneficiary has attained the
age of majority. In case where 18 minus age last birthday
on the date of commencement lies between two available
policyterms,thenexthigherpolicytermwillbeoffered.
14
15. 15
Premium
Payment
Term Options
(PPT)
Maximizer
Category
Regular
5, 7 years
10 years
Regular
5, 7 years
10 years
10 / 12 / 15 / 20 years
10 / 12 / 15 / 20 years
12/ 15 / 20 years
10 / 12 / 15 / 20 years
10 /12 /15 /20 years
12/ 15 / 20 years
Rising Star
Premium
Payment Term
Option (PPT)
Policy Term
Regular
Limited
Regular
Limited
Retire Rich Limited
10 to 60 minus Age
at Entry of Life
Insured
99 minus Entry Age
ofLifeInsured
Premium
Level
Rising Star
Maximizer Retire Rich
Minimum
Yearly
Half Yearly
Quarterly
Monthly
` 9,000/-
` 4,500/-
` 2,250/-
` 750/-
`
` 12,000/-
` 6,000/-
` 2,000/-
24,000/- `
` 12,000/-
` 6,000/-
` 2,000/-
24,000/-
Yearly
Half Yearly
Quarterly
Monthly
No Limit No Limit No Limit
Maximum
Basic Sum
Assured (Min &
Max)
10 times AP
Rising Star
Sum Assured Maximizer Retire Rich
10 times AP 10 times AP
(Annualized Premium = AP)
Rising Star
Maximizer Retire Rich
Minimum
Mode
Yearly, Half-Yearly, Quarterly, Monthly
#
Age above will be Age as on the last birthday
16. 16
Illustration
Mr. Ram is a 35-year old businessman who lives with his wife and two
children. He is financially well off and is looking for investment avenues with
the objective to have adequate protection as well as substantial corpus for
future years. He requires a plan that is not only efficient and does investment
management for him, but also offers liquidity to give him control over the
investments.
Kotak e-Invest is the perfect solution for him as it gives him the option to
select Investment Strategy and invest in funds of his choice and at the same
timeenjoyadequateprotection.
Given below is an illustration of the benefits payable to Mr. Ram for a policy
term of 20 years and premium payment term of 7 years with the annual
premium of 50,000 and a Sum Assured of 5,00,000. He has selected
Maximizer Option and Self - Managed Investment Strategy with 100% in
ClassicOpportunities Fund.
` `
Note: The above illustration is an extract of a separate, more detailed benefit
illustration. For full details, please refer to the Benefit Illustration. Cumulative
additions to the fund are inclusive of Yearly Additions. The above figures are
net of Goods and Services Tax and Cess (GST), as applicable (For further
details on GST, please refer to Terms and Conditions). Goods and Services Tax
and Cess rates are subject to change from time to time as per the prevailing
tax laws and/or any other laws. The above illustration is for a healthy
#
individual. The values are based on assumed investment rate of return of 4%
p.a. & 8% p.a. The valuesshown arenot guaranteed and theyarenot upper and
lowerlimitofreturns,theyhavebeenshownforillustrativepurpose only.
#
Benefits at 4% p.a.
End
Of
Year
Age
(in
yrs)
Cumulative
Premium
(`)
Death
Benefit
(`)
Fund
Value
(`)
Death
Benefit
(`)
Fund
Value
(`)
Cumulative
Additions
to the Fund
#
Benefits at 8% p.a.
10
15
20
45
50
55
3,50,000
3,50,000
3,50,000
7,500
15,000
32,141
4,09,829
4,64,286
5,35,986
5,00,000
5,00,000
5,35,986
7,500
15,000
27,953
5,37,121
7,34,121
1,006,724
5,37,121
7,34,121
1,006,724
Cumulative
Additions
to the Fund
17. 17
Fund Name
Classic Opportunities Fund
Frontline Equity Fund
Balanced Fund
Dynamic Bond Fund
Dynamic Floating Rate Fund
Dynamic Gilt Fund
Money Market Fund
Discontinued Policy Fund
Charge
1.35% per annum
1.35% per annum
1.35% per annum
1.20% per annum
1.20% per annum
1.00% per annum
0.60% per annum
0.50% per annum
SwitchingCharge
PartialWithdrawalCharge
DiscontinuanceCharges
The first twelve switches in a policy year are free. For every additional switch
thereafter,` 250willbecharged.
There is no charge for selecting and switching Investment Strategies but the
Fund ManagementChargeoftheunderlying funds shallbeapplicable.
The first four Partial Withdrawals are free in this Plan. For each Partial
Withdrawal thereafter, ` 250 will be charged.Partial Withdrawal chargesis not
applicable for systematic withdrawal feature under Retirement Income
option.
Discontinuancechargeswillbeapplicableasfollows:
Charges
PremiumAllocationCharge:
PolicyAdministrationCharge
FundManagementCharge(FMC)
NIL
A policy administration charge of ` 400 per annum will be recovered through
monthly cancellation of units. This charge is applicable until the end of the
policyterm.
TheannualFMCofthefunds inthisplanare:
18. Year during
which policy is
discontinued
For All Regular /
Limited
Premium Levels
1 2 3 4 5+
Lowest of
20%ofAP
? 20% of FV
? ` 3,000
•
•
•
Lowest of
%ofAP
? % of FV
? ` 2,000
• 15
• 15
•
Nil
Lowest of
0%ofAP
? 0% of FV
? ` 1,500
• 1
• 1
•
Lowest of
%ofAP
? % of FV
? ` 1,000
• 5
• 5
•
For annualized premium up to and including 50,000:-
`
Year during
which policy is
discontinued
For All Regular /
Limited
Premium Levels
1 2 3 4 5+
Lowest of
%ofAP
? % of FV
? ` 6,000
• 6
• 6
•
Lowest of
%ofAP
? % of FV
? ` 5,000
• 4
• 4
•
Nil
Lowest of
%ofAP
? % of FV
? ` 4,000
• 3
• 3
•
Lowest of
%ofAP
? % of FV
? ` 2,000
• 2
• 2
•
For annualized premium above 50,000:-
`
AP=AnnualizedPremium;FV=Fund ValueonthedateofDiscontinuance
AP is the Annualized Premium selected by the policyholder at the inception of
the policy excluding the taxes, rider premiums and underwriting extra
premiumonrider
This is the cost of life cover, which will be levied by cancellation of units on a
monthly basis. Given below are the charges per thousand Sum at Risk* for a
healthyindividual.
Themortality ratesvary byattainedage.Sampleratesaregivenbelow:
MortalityCharge
Attained Age(in years) 20 30 40 50
Mortality Charge 0.924 0.977 1.680 4.436
*
SumatriskforPlanOptionsexceptRisingStar:DeathBenefit(as derived) –
Fund Value
SumatriskforRisingStar:asderivedbyDeathBenefit
Under this plan option the sum at risk for waiver of premium benefit is sum
of future premium.
The sum at risk, during the period the policy is in reduced paid up status, shall
becalculatedbasedonreducedpaidupsumassured.
18
19. MiscellaneousCharges
1. GracePeriod
2. PartialWithdrawals
The charge for replacement of policy document / cheque dishonor is 250 per
request. For premium redirection, a fee of 100 will be charged. The Premium
Redirectionchargewillbeleviedbycancellationofunits.
• There is a Grace Period of 30 days for the annual, half-yearly and quarterly
modeand15daysforthemonthlymodefromtheduedateforpaymentof
premium.
• Thepolicywillbein-forceduring theGracePeriod.
• Partial withdrawalwillbeallowedonlyiftheLifeinsuredisamajor
• Partial Withdrawals will be allowed after completion of lock-in period of
fivepolicyyears
• Minimumamountforpartial withdrawalis 5,000
• Partial Withdrawalsshould beinmultiplesof 1,000
• The minimum amount required to be maintained in the Fund after Partial
Withdrawal is equal to 105% of the total premiums paid till the date of
Partial Withdrawal
• Partial Withdrawals that result in Fund Value being less than 105% of the
total premiums paid till the date of Partial Withdrawal will not be allowed.
However, if the Fund Value (after Partial Withdrawal) falls below 105% of
the total premiums paid till the date of Partial Withdrawal, either because
of a charge or due to a fall in NAV, the policy will continue till Fund Value
remainspositive.
• Partial Withdrawals (including Retirement Income applicable under Retire
Rich option) will have the following effect on the Basic Sum Assured.
Basic Sum Assured payable on death is reduced to the extent of
applicable Partial Withdrawals (including Retirement Income) made from
the Fund Value during the two years period preceding the date of death of
theLifeInsured.
• The partial withdrawal (includes Retirement Income as well) made from
the fund during the two year period immediately preceding the death of
thelifeinsuredshallbereferredasApplicablePartial Withdrawal.
• Partial withdrawal will not be allowed during Discontinuance state and
`
`
`
`
Terms&Conditions
19
20. Settlementperiod
• Partial withdrawals shall be allowed when policy is in Reduced Paid Up
status
• The partial withdrawals leading to termination of the policy shall not be
allowed
A.1 Discontinuanceofthepolicyduringlock-inperiod:
a) Upon expiry of the grace period, in case of discontinuance of policy
due to non-payment of premium, the fund value after deducting the
applicable discontinuance charges, shall be credited to the
discontinued policy fund and the risk cover and rider cover, if any,
shallcease.
b) Such discontinuance charges shall not exceed the charges,
stipulated in Regulation 27 (e) of IRDAI (Unit Linked Insurance
Products) Regulations, 2019 . All such discontinued policies shall be
provided a revival period of three years from date of first unpaid
premium. On such discontinuance, Insurer shall communicate the
status of the policy, within three months of the first unpaid premium,
to the policyholder and provide the option to revive the policy within
therevivalperiodofthreeyears.
i) In case the policyholder opts to revive but does not revive the
policy during the revival period, the proceeds of the discontinued
policy fund shall be paid to the policyholder at the end of the
revival period or lock-in period whichever is later. In respect of
revival period ending after lock-in period, the policy will remain in
discontinuance fund till the end of revival period. The Fund
management charges of discontinued fund will be applicable
during thisperiodandnootherchargeswillbeapplied.
ii) In case the policyholder does not exercise the option as set
outabove,thepolicyshallcontinuewithoutanyriskcoverand
rider cover, if any, and the policy fund shall remain invested in the
discontinuance fund. At the end of the lock-in period, the
proceeds of the discontinuance fund shall be paid to the
policyholder andthepolicyshallterminate.
iii) However, the policyholder has an option to surrender the policy
anytime and proceeds of the discontinued policy shall be payable
3. DiscontinuanceandRevival
20
21. attheendoflock-inperiodordateofsurrenderwhicheverislater.
A.2 Revival ofaDiscontinuedPolicyduringlock-inPeriod:
a) Where the policyholder revives the policy, the policy shall be revived
restoring the risk cover, along with the investments made in the segregated
funds as chosen by the policyholder, out of the discontinued fund, less the
applicable charges as given 11 (b) of IRDAI (Unit Linked Insurance Products)
Regulations,2019inaccordancewiththetermsandconditionsofthepolicy.
b) Theinsurer,atthetimeofrevival:
i) Shall collect all due and unpaid premiums without charging any
interestorfee.
ii) May levy policy administration charge and premium allocation
charge as applicable during the discontinuance period.
Guarantee charges, if applicable during the discontinuance
period, may be deducted provided the guarantee continues to be
applicable.Nootherchargesshallbelevied.
iii) Shall add back to the fund, the discontinuance charges deducted
atthetimeofdiscontinuanceofthepolicy.
A.3 SegregatedDiscontinuedPolicyFund:
a) Thediscontinuedpolicyfund shallbeasegregatedunitfund.
b) The fund management charge on discontinued policy fund shall be
declared by the Authority from time to time. Currently, the fund
managementchargeshallnotexceed50basispointsperannum.
A.4 MinimumGuaranteedInterestRate:
a) Theminimumguaranteedinterestrateapplicabletothediscontinued
fund shall be declared by the Authority from time to time. The current
minimum guaranteed interest rate applicable to the discontinued
fund is4%perannum.
b) The excess income earned in the discontinued fund over and above
the minimum guaranteed interest rate shall also be apportioned to
the discontinued policy fund in arriving at the proceeds of the
discontinued policies and shall not be made available to the
shareholders.
NotesforDiscontinuanceofthepolicyduringlock-inperiod:
i. Facilities such as fund switches, switching between strategies and
Partial Withdrawals will not be allowed during the discontinuance
21
22. period.
ii. Investment Strategies will not be available if the policy is in the
Discontinuance.
iii. Yearly Additions will not be credited during Discontinuance period
where policy was discontinued during lock-in period. However, on
revivalYearlyAdditions applicable(ifany)during theDiscontinuance
periodwillbecredited.
iv. RevivalwillbesubjecttoBoardapprovedUnderwriting Policy.
v. Ondiscotinuancerevival,theridercover,willbereinstated.
vi. “Proceeds of the discontinued policies” means the fund value as on
the date the policy was discontinued, after addition of interest
computed at the interest rate stipulated in Regulation 13 under IRDAI
(UnitLinkedInsuranceProducts)Regulations, 2019.
A.5 DiscontinuanceofPolicyafterthelock-in-Period:
a) Uponexpiry ofthegraceperiod, incaseofdiscontinuanceofpolicy
due to non-payment of premium after lock-in period, the policy shall
be converted into a Reduced Paid Up policy with the Reduced Paid Up
sum assured i.e. original sum assured multiplied by the total number
of premiums paid to the original number of premiums payable as per
the terms and conditions of the policy. The policy shall continue to be
in Reduced Paid Up status without rider cover, if any. All charges as
per terms and conditions of the policy may be deducted during the
revival period. However, the mortality charges shall be deducted
basedontheReducedPaidUpsumassuredonly.
b) On such discontinuance, Insurer shall communicate the status of the
policy, within three months of the first unpaid premium, to the
policyholder andprovidethefollowing options:
i. Torevivethepolicywithintherevivalperiodofthreeyears,or
ii. Completewithdrawalofthepolicy.
c) In case the policyholder opts for (1) i.e. revive the policy within revival
period of 3 years but does not revive the policy during the revival
period, the fund value shall be paid to the policyholder at the end of
therevivalperiod.
d) In case the policyholder does not exercise any option as set out
above, the policy shall continue to be in Reduced Paid Up status. At
the end of the revival period the proceeds of the policy fund shall be
paidtothepolicyholder andthepolicyshallterminate.
22
23. e) However, the policyholder has an option to surrender the policy
anytimeandproceedsofthepolicyfund shallbepayable.
A.6 Revival ofadiscontinuedPolicyafterlock-inPeriod
1) Thepolicyholdercanrevivethepolicy,inaccordancewithsub-
regulation (u) of Regulation 3 of IRDAI (Unit Linked Insurance
Products) Regulations, 2019. Where the policyholder revives the
policy, the policy shall be revived restoring the original risk cover in
accordancewiththetermsandconditions ofthepolicy.
2) Theinsurer,atthetimeofrevival:
a) Shall collect all due and unpaid premiums under base plan
without charging any interest or fee. The rider may also be revived
attheoption ofthepolicyholders.
b) May levy premium allocation charge as applicable. The guarantee
charges may be deducted, if guarantee continues to be
applicable.
c) Nootherchargesshallbelevied.
NotesforDiscontinuanceofPolicyafterthelock-in-Period:
i. Facilitiessuchasfund switches,switchingbetweenstrategies,
partial withdrawalwillbeavailableduring ReducedPaidUpstatus
ii. Investment Strategies will be available if the policy is in Reduced Paid
Upstatus.
iii. Yearly Additions & ROMC will not be credited during Reduced Paid Up
Status, on revival both Yearly Additions & ROMC applicable (if any)
during theReducedPaidUpperiodwillbecredited.
iv. RevivalwillbesubjecttoBoardapprovedUnderwriting Policy.
v. OnReducedPaid-Uprevival,theridercover,willbereinstated.
vi. Noguaranteechargesareapplicableunderthisproduct.
Under Reduced Paid Up status, on death of life insured,following benefit is
paidforallplanoptionsexceptRisingStar:-
• Higherof:
o Reduced Paid Up Sum Assured less applicable partial withdrawal
*
amount (ifany),or
4. DeathBenefitinReducedPaidUpStatus
23
24. 24
o Fund valueinclusiveofYearlyAdditions, ifanyor
o 105% of the premiumspaid till date of death less applicable partial
*
withdrawalamount
ForRisingStar:-
? • Higherof:
o Reduced Paid Up Sum Assured less applicable partial withdrawal
*
amount (ifany)or
o 105%ofthetotalpremiumspaidtilldateofdeathlessapplicable
partial withdrawalamount*ispaidaslumpsum
PLUS
o Present value of Reduced regular monthly income^ (defined
below)discountedat5%p.a.Ispaidaslumpsum
PLUS
o Fund value
Thepolicyshallterminateafterpaymentofdeathbenefit
^ReducedRegularMonthlyIncome:
1% of Reduced Sum Assured is payable monthly to the policyholder,
starting from the next month following the lump sum benefit payout, for
36installments.
In case of discontinuance during first five policy years, funds will be
transferred to Discontinued Policy Fund. The details of the Fund are as
follows:
The asset categories under the discontinued policy fund may vary in future in
linewithrelevantIRDAIRegulations/Circulars.
5. DiscontinuedPolicyFund
Discontinued
Policy Fund
Discontinued
Policy Fund
(ULIF-050-
23/03/11-
DISPOLFND-107)
Aims to provide secure
returns to policies in the
discontinued state, by
investing in low-risk
debt instruments.
Secure
Money market: 0% - 40%;
Gov. Securities: 60%-100%
Investment Objective
Risk- Return
Profile Investment Pattern
25. 25
6. Riderdetails:
7. SettlementOption
Applicable Rider Charges will be deducted from the Fund Value if the
Riders are chosen. For more details on rider eligibility conditions, rider
terms and other applicable conditions please refer to the detailed rider
brochures for Kotak Accidental Death Benefit Rider (Linked) UIN:
107A017V01 and Kotak Permanent Disability Benefit Rider (Linked)
UIN:107A018V01availableonourwebsite.
Through Settlement Option, Policyholder will have the option of taking
maturity proceeds either as lump sum or through pre-selected periodic
instalments (yearly, half-yearly and quarterly only) and this should be
intimated to the company within 3 months prior to the date of maturity.
The first instalment under Settlement Option shall be payable on the date
ofmaturity.TheSettlementOptionsavailableare:
1) 50% of the maturity proceeds as a lump sum and balance 50% as
periodicinstalmentsOR
2) Wholeofthematurityproceedsasequatedperiodicinstalments
i. The instalments can be taken over a maximum period of 5 years
calledtheSettlementperiod.
ii. In case of non-annual modes, the yearly instalments for each year
shallbefurther dividedequallyaspermodechosen
• Life Insured should specify mode of the periodic instalments,
i.e. quarterly / half – yearly / yearly at the point of pre-
settlement notification. In case of option 1 above, after the
payment of lump sum amount, 20% of the balance amount
shall be payable each year (i.e. 10% of the Maturity Benefit)
overaperiodof5years
• In case of option 2 above, the yearly instalments i.e. 20% of
MaturityBenefitwillbepayableoveraperiodoffiveyears
• In case of non-annual modes, the yearly instalments for each
yearshallbefurther dividedequallyaspermodechosen
iii. Choice of funds, as available under the Self-Managed Strategy, in
which maturity proceeds are to be maintained during the
Settlement period also needs to be communicated to the
Company at the point of pre-settlement notification. Available
funds undertheplanonlycanbeusedforthis.
iv. On selecting the Settlement Option, the number of units to be
26. liquidated to meet each payment shall depend on the respective
fund NAVs as on the date of each payment. First instalment shall
bepaidonthedateofmaturityalongwiththelumpsumifany.
v. During the settlement period, the investment risk in the
investment portfolio is borne by the Policyholder or Life Insured.
Thus there is a possibility that the Fund Value can grow or deplete
during the Settlement period and the return/risk of such
movement will be borne by the Policyholder or Life Insured.
Accordingly the Total Benefit payable under the product may vary
i.e. the instalment amount payable may be higher or lower than
instalmentcalculatedinitially.
vi. Switching between the funds will be allowed during the
Settlement Period and the first 12 switches in the Settlement
Period are free. Switching Charges will be applicable from the
th
13 switchdoneduring theSettlementperiod.
vii. Partial Withdrawals will not be allowed during the Settlement
Period.
viii. In case of death of life insured during Settlement period, higher of
105% of total premiums paid or balance Fund Value shall be paid
immediately in lump sum and the policy ceases. No other benefit
is provided during Settlement Period. Accordingly, mortality
chargeswillbededucted.
ix. At the end of Settlement Period, on survival of the life insured, the
balance of Fund Value, if any will be paid out as one lump sum and
thepolicywillceasethereafter.
x. Fund Management Charges (FMC), switching charges and the
applicable taxes (currently Goods and services tax and cess, as
applicable) will be recovered by adjustments to the NAVs of the
funds invested in or through deduction of units from the funds.
Mortality charge will be also be levied during Settlement Period
basedontheSumAtRisk.Otherchargeswillnotbeapplicable.
xi. If the Policyholder requests for pre-closure or the Fund Value
is insufficient (due to volatility in the Market or due to charges) to
pay the desired amount of instalment, then the balance Fund
Value will be payable without levying any charge and the policy
willbeterminatedwithoutlevyinganyothercharges.
xii. In case the Policyholder and the Life Insured are different the
aboveoptions shallbeexercisedbytheLifeInsured.
26
27. xiii. There is an option of complete withdrawal at any time during the
settlementperiodwithoutlevyinganycharge
xiv. Thisoption isnotavailableunderRisingStarandRetireRich.
Loansarenotavailableunderthisplan.
Kotak Life Insurance reserves its right to impose charges not beyond
thelevelmentionedbelow(SubjecttoIRDAIapproval):
• The miscellaneous, partial withdrawal and switching charges
maybeincreasedtoamaximumof 500
• Policy Administration charges and Mortality charges are
guaranteedforthetermofthepolicy
• The maximum Fund Management Charge applicable for this
product except for Discontinued Policy Fund is 1.35% per annum.
The maximum Fund Management Charge applicable for
DiscontinuedPolicyFund is0.50%perannum
Nomination will be allowed under the plan as per Section 39 of the
InsuranceAct,1938asamendedfromtimetotime.
Assignment is allowed in this plan as per Section 38 of the Insurance
Act,1938asamendedfromtimetotime.
In case policyholder is not agreeable to any of the provisions stated in
the Policy, then he/she has the option of returning the Policy, stating
the reasons thereof within 15 days (30 Days in case of electronic
policies and policies obtained through Distance Marketing* mode)
from the date of receipt of the policy document wherein the
policyholder may choose to return the policy document, stating the
reasons thereof within 15 days / 30 days of receipt if s/he is not
agreeable with any of the terms and conditions of the plan. Should
s/he choose to return the policy document, s/he shall be entitled to a
refund of the non-allocated premium plus charges levied by
cancellation of units plus fund value at the date of cancellation after
deducting proportionate risk charges, stamp duty and cost of medical
8. PolicyLoans
9. MaximumChargeLevel
10. Nomination&Assignment
11. FreeLookPeriod
`
27
28. examination, if any. In addition to above, Free Look Provision as per
the base policy is also applicable on the Riders. The Rider stands
cancelled when the Free Look Provision of the base policy is
exercised.
A policy once returned shall not be revived, reinstated or restored at
any point of time and a new proposal will have to be made for a new
policy.
*
Distance Marketing includes every activity of solicitation (including
lead generation) and sale of insurance products through the following
modes: (i) Voice mode, which includes telephone calling (ii) Short
Messaging service (SMS) (iii) Electronic mode which includes e-mail,
internet and interactive television (DTH) (iv) Physical mode which
includes direct postal mail and newspaper & magazine inserts. (v)
Solicitation through any means of communication other than in
person.
In case of death due to suicide within 12 months from the date of
commencement of the policy or from the date of revival of the policy,
as applicable, the nominee or the beneficiary of the policyholder shall
be entitled to the fund value, as available on the date of intimation of
death.
In the event of the Life Insured committing suicide within 12 months
from the date of revival of the policy, when the revival is done within 6
months from the date of discontinuance, Suicide Exclusion shall not
be applicable and the Death Benefit under the product shall be
payable.
However, in case of suicide within 12 months from the date of revival,
when the revival is done after 6 months from the date of
discontinuance, only the fund value as on the date of intimation of
death is payable. Further, any charges other than Fund Management
Charges (FMC) and guarantee charges recovered subsequent to the
date of death shall be added back to the Fund Value as available on
dateofintimationofdeath.
12. SuicideExclusion
28
29. NAV of a fund is calculated and published in financial newspapers on
each business day. Net Asset Value (NAV) of a Unit Linked Fund shall
becalculatedasfollows:
Net Asset Value (NAV) = “(Market Value of Investments held by the
fund + Value of Any Current Assets - Value of any Current Liabilities &
Provisions, if any) divided by the number of units existing at valuation
date(beforecreation/redemptionofanyunits)”
• In respect of funds switched or premiums received by the insurer
along with a local cheque or a demand draft payable at par at the
place where the premium is received, up to 3.00 p.m., the closing
NAVofthedayonwhichpremiumisreceivedshallbeapplicable.
• In respect of funds switched or premiums received by the insurer
along with a local cheque or a demand draft payable at par at the
place where the premium is received, after 3 p.m., the closing NAV
ofthenextbusinessdayshallbeapplicable.
• In respect of premiums received with outstation cheques/demand
drafts at the place where the premium is received, the closing NAV
of the day on which cheques/demand draft is realized shall be
applicable.
• Having regard to the above, insurer shall ensure that each and
every payment instrument is banked with utmost expedition at
the first opportunity, given the constraints of banking hours,
prudently utilizing every available banking facility (e.g. high value
clearing, account transfer etc.) Any loss in NAV incurred on
accountofdelays,shallbemadegood bytheinsurer.
• Separatefund allocationsmustbestipulated.
• NAV’sareavailableonthewebsiteforreference.
The policyholder may check the Unit Statement in D02 format
available on the Online Policy Manager (OPM) using the prescribed
link: https://customer.kotaklifeinsurance.com/ CP/Loginopm.aspx.
In orderto view the Unit Statement, the Policyholderhas to registeron
Online Policy Manager to generate the Login ID and Password. The
annual statement would also be shared with the policyholders at
policyanniversary.
13. FundNAV's
14. Availability ofUnitStatement&AnnualStatement:
29
30. 15. GoodsandServicesTaxandCess:
16. Availability:
17. Vestingincaseofminorlife:
18. ForeclosureandTerminationofpolicy:
Goods and Services Tax and Cess, as applicable shall be levied on all
applicable charges as per the prevailing tax laws and/or any other
laws. In case of any statutory levies, cess, duties etc., as may be
levied by the Government of India from time to time, the Company
reserves its right to recover such statutory charges from the
policyholder(s)bydeductionfromtheFund Value.
This product is available to be distributed through Individual
Agents, Corporate Agents, Brokers, Insurance Marketing Firms
(IMF), Web Aggregators, Direct Marketing, Direct (Salaried)
Marketing such as Tele Sales and Direct Sales Force and Online
Channel.
If the policy has been taken on the life of a minor, the policy shall
automatically vest on him/her with effect from the date of completion
of 18 years of age and the Life Insured will become the Policyholder
fromsuchdate.
If the fund value is not sufficient to cover the charges then the policy
will be foreclosed and the remaining fund value will be paid to
Policyholder.
Thepolicywillterminateattheearliestofanyofthebelowscenarios:
• Date the customer requests for termination of the cover (subject
tolock-inperiod)or
• Date of discontinuance & release of discontinuance payout to the
policyholder (subjecttolock-inperiod)or
• Date on which the revival period ends and the policy is not revived
bythepolicyholder or
• For Maximizer and Retire Rich option : Date on which the death
claim payment has been made. For Rising Star Option : Incase
of Death of the Life Insured where all due premiums are paid till
the date of death, the policy still continues till Maturity) or
• On cancellation/ termination of the Policy by Us on grounds of
30
31. misstatement, fraud or non-disclosureestablished in accordance
withSection45oftheInsuranceAct,1938.
• Date of cancellation of the policy when the policy is in free look
period.
• Date on which the policy matures & release of maturity benefit to
thepolicyholderor
• Date on which the last benefit payout under the Settlement Option
(ifoptedfor)ispaidtothepolicyholder.
Means an event by which performance of any of Our obligations are
prevented or hindered as a consequence of any act of God, State,
strike, lock-out, legislation or restriction by any government or other
authorityoranycircumstancebeyond Ourcontrol.
19. “ForceMajeureEvent”
31
32. RISKFACTORS
• UnitLinkedLifeInsuranceproductsaredifferentfromthetraditional
insuranceproductsandaresubjecttotheriskfactors.
• The premium paid in Unit Linked Life Insurance policies are subject to
investment risks associated with capital markets and the NAVs of the
units may go up or down based on the performance of fund and factors
influencing the capital market and the insured is responsible for his/her
decisions.
• Kotak Mahindra Life Insurance Company Ltd. is only the name of the
Insurance Company and Kotak e-Invest is only the name of the unit linked
lifeinsurancecontractanddoesnot in any way indicate the quality of the
contract,itsfutureprospectsorreturns.
• The various funds offered under this contract are the names of the funds
and do not in any way indicate the quality of these funds, their future
prospectsandreturns.
• The past performance of other Funds of the Company is not necessarily
indicativeofthefutureperformanceofthefunds.
• Please know the associated risks and the applicable charges (along with
the possibility of increase in charges), from your Insurance Agent /
Corporate Agent / Insurance Broker / Intermediary or policy document of
theinsurer.
• All benefits payable under the Policy are subject to the Tax Laws and other
financial enactments,astheyexistfromtimetotime.
Extract of Sections 41 of the Insurance Act, 1938 as amended from time to
timestates:
(1) No person shall allow or offer to allow, either directly or indirectly, as an
inducement to any person to take or renew or continue an insurance in
respect of any kind of risk relating to lives or property in India, any rebate of
the whole or part of the commission payable or any rebate of the premium
shown on the policy, nor shall any person taking out or renewing or continuing
a policy accept any rebate, except such rebate as may be allowed in
accordancewiththepublishedprospectusesortablesoftheinsurer.
(2) Any person making default in complying with the provisions of this
sectionshallbeliableforapenaltywhichmayextendtotenlakhrupees.
33. AboutUs
Kotak Mahindra Life Insurance Company Ltd is a 100% owned subsidiary of
Kotak Mahindra Bank Ltd. (Kotak) which provides world-class insurance
products with high customer empathy. Its product suite leverages the
combined prowess of protection and long term savings. Kotak Life Insurance
is one of the growing insurance companies in India and has covered over
severalmillionlives.
Formoreinformation,pleasevisitthecompany'swebsiteatwww.kotaklife.com
KotakMahindraGroup
Kotak Mahindra Group is one of India's leading banking and financial services
organizations, offering a wide range of financial services that encompass
every sphereof life.Fromcommercialbanking, tostockbroking,mutualfunds,
insurance and investment banking, the Group caters to the diverse financial
needsofindividuals andthecorporatesector.
Formoreinformation, pleasevisitthecompany’swebsiteatwww.kotak.com
Kotak e-Invest; UIN - 107L121V01, Form No. - L121. Kotak Accidental Death Benefit Rider (Linked) UIN -
107A017V01 Form No: A017, Kotak Permanent Disability Benefit Rider (Linked) UIN -107A018V01 Form No:
A018. Ref No. KLI/21-22/E-PB/107
This is an individual non-participating unit linked endowment plan. The sales brochure gives only the salient
featuresoftheplan.PleasereferthePolicyDocumentforspecificdetailsonalltermsandconditions.
Kotak Mahindra Life Insurance Company Ltd ; Regn. No.: 107, CIN: U66030MH2000PLC128503, Regd. Office:
2nd Floor, Plot # C- 12, G- Block, BKC, Bandra (E), Mumbai - 400 051. Website: www.kotaklife.com |
WhatsApp:9321003007|TollFreeNo.–18002098800.
Trade Logo displayed above belongs to Kotak Mahindra Bank Limited and is used by Kotak Mahindra Life
InsuranceCompanyLtd.underlicense.
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public
receiving such phone calls are requested to lodge a police complaint.
WhatsApp: 9321003007
www.kotaklife.com
SMS KLIFE to 5676788
TOLL FREE 1800 209 8800