When you choose to invest in Kotak e-Invest Plan, you will come across the popular options of maximiser and retirement-rich plans. People often get puzzled about which one is more beneficial for them. Understand the features of the two plans to find out.
Maximiser Plan
The maximiser plan is for maximising your returns on the invested amount. It is a limited pay participating endowment plan. You can customise the plan as per your needs to achieve your life goals. You will find three options under the maximiser plan:
- Life goal maximiser
- Golden years maximiser
- Bright future maximiser
You also have the flexibility of multiple bonus payout options according to your convenience. You have a cash bonus option with an immediate payout. You can also choose a cash bonus option with a deferred payout. Another bonus payout option comes with paid-up additions.
The maximiser plan comes with the facility of long-life cover. You can offer financial protection to family members and near ones till the age of 85 years. You can also choose to safeguard your spouse’s life with this cover.
- Entry Age and Maturity Age
The minimum entry age for the maximiser plan is three years, while the maximum is 60 years. The minimum maturity age for the maximiser is 18 years, and the maximum is 75 years.
- Premium
| Premium Level | Minimum | Maximum |
| Yearly | ₹9000 | NA |
| Half Yearly | ₹4500 | NA |
| Quarterly | ₹2250 | NA |
| Monthly | ₹750 | NA |
- Return of Mortality Charge
In case of the survival of Life Assured till Maturity, a percentage of the total Mortality Charges amount subtracted for life cover offered throughout the policy term is added back to the fund’s value on the maturity date. The percentage depends on the chosen policy term and the entry age of the life assured.
| Policy Term | Age at Entry (below 50 years) | Age at Entry (51 to 55 years) | Age at Entry (Above 55 years) |
| 10 years | 150% | 50% | 25% |
| 12 years | 160% | 50% | 25% |
| 15 years | 175% | 50% | 25% |
| 20 years | 200% | 50% | 25% |
Retire Rich Plan
The plan offers coverage till the age of 99 years. You can get retirement income through systematic withdrawal at any point after the policy anniversary, immediately after you reach 60. You also get an income booster of an additional 0.5% per annum in this plan.
- Entry Age and Maturity Age
The minimum entry age is three years, while the maximum is 50. The maturity age is fixed at 99 years.
- Premium
| Premium Level | Minimum | Maximum |
| Yearly | ₹24000 | NA |
| Half Yearly | ₹12000 | NA |
| Quarterly | ₹6000 | NA |
| Monthly | ₹2000 | NA |
- Return of Mortality Charges (ROMC)
The ROMC gets added back to the fund value after the 60th birthday of the Life Assured. The amount depends on the number of years completed on the date of the ROMC infusion.
| No. of years | ROMC |
| 10 to 11 years | 150% |
| 12 to 14 years | 160% |
| 15 to 19 years | 175% |
| 20 years and more | 200% |
Final Thoughts
After knowing the features of the two, you can decide which one’s suitable for you. But the two plans have certain common benefits like enhancement of fund value through yearly additions.
Click here to know more about Kotak Life ULIP Policy: https://www.kotaklife.com/online-plans/ulip-plan
