The Kotak Easy Growth Plan of Kotak Life Insurance is a single premium investment plan. This plan generates the value for the whole life as well as protection for the entire family in case of unfortunate incidents. This policy gives control over the investment through one premium and allows access to cash value for emergencies.
The main advantages of Kotak Easy Growth Plan of Kotak Life Insurance plan are as follows:
- Tax free switching to help get maximize returns
- Simplicity of payment - Single premium plan
- Choice of 6 fund options
- Flexible top-up / withdrawals contributions
- Dual benefits of investments as well as insurance
- Investment benefit spread across whole life
The Kotak Easy Growth Plan of Kotak Life Insurance plan is specially suited for:
- Those who would like to save from the hassle of the regular premium payments.
- Those who would like to increases the investment amount at convenience according to the requirements.
- The policy does not have any predetermined maturity schedule and thus enable to enjoy an easy exit from the plan.
The benefits of Kotak Easy Growth Plan of Kotak Life Insurance plan are as follows:
- This plan does not have a fixed maturity date.
- The policy holder can exit anytime after the third policy anniversary.
- At the maturity of the policy the policy holder will get the fund value in the main account along with the fund value in the top up account.
In case of the unfortunate death of the policy holder the beneficiary will receive the sum assured along or the fund value in the main account which is 5 times of the single premium or the fund value in the top up account, whichever is higher.
Tax Benefits are available under section 80C and 10 (10D) of Income Tax Act, 1961. Section 80D will be applicable in case of Kotak Easy Growth (5 times); if Critical Illness benefit is opted for. Tax benefits are subject to change in tax laws.