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POSTED BY ON October 1, 2012 12:42 pm COMMENTS (3)
mr manish
myself deepak kanodia having insurance plan in kotak ace investment ulip
this is just for enquiry purpose.
suppose i do not want to pay my premium onwards for remaining 4 years as 5 years lock in period and had paid only 1 year premium.
or suppose i want to discontinue my policy.
so when will i get my fund value back and what charges will be deducted from my fund value and how much i will get?
and will kotak pay me interest on the fund value and how much?
plz give in details what charges the kotak will deduct and what interest will it pay
regards
deepak kanodia
2021 © Jagoinvestor.com All Right Reserved
Dear Sir,
We have noted your concens. We request you to write to our official id: clientservicedesk@kotak.com along with policy no. to ensure security of your policy details. We will be glad to assist you.
Regards,
Kotak Support Team
A lot has changed since the initial article was written in 2009.
Now you may be able to discontinue the ULIP even after 1 year with very minimal losses. This is what will happen:
1)You will lose 6% of Year 1 premium/6% of Fund Value/6000
2) This amount will be invested in a Discontinued policy fund and will earn the Savings Bank rate for upto 5 years from the start of policy and will be returned
http://insurance.kotak.com/individual/pdf/Kotak-Ace-Investment-Brochure.pdf
Dear deepak kanodia,
Plz. spare some time to read & understand the terms & conditions of the policy document.
also read the article written by manish..
http://jagoinvestor.dev.diginnovators.site/2009/11/what-happens-if-you-stop-your-ulips-before-3-years.html