Kotak Mahindra Life insurance launches Kotak Fortune Maximiser
February 15, 2022
Kotak Mahindra Life Insurance has announced the launch of Kotak Fortune Maximiser, a limited pay participating endowment plan. Under the Kotak Fortune Maximiser plan, one cannot only have the choice to choose their premium amount but also select their premium payment.
The life cover will go on for a strategy term till 85 years less entry age of life insured. Being a limited premium plan, the premium can be paid for any of these periods – 6 years, 8 years, 10 years, 12 years and 15 years. Kotak Fortune Maximiser gives the flexibility to browse 3 Plan Options like Life Goal Maximiser, Bright Future Maximiser and Golden Years Maximiser.
Under Life Goal Maximiser Plan Option, the policyholder will have the flexibility to pick any of the 3 Bonus Payout Options. This is an unique feature of the plan as it gives choices to the policyholder to pick how to manage the bonus declared by the insurance company.
Policyholders can browse three bonus payout choices relying upon their saving fund’s objective, Cash Bonus (Immediate Payout), Under this choice, the Cash Bonus (whenever pronounced) will be payable to you on a month to month OR yearly basis (as picked). Cash Bonus (Deferred Payout), Under this choice, you will have the flexibility to pick a residency post which you might like to receive the Cash Bonus.
Paid-up additions: Under this option, the Cash Bonus (whenever declared) will be used to purchase additional Sum Assured in the form of Paid-up Additions, all through the policy term.