Home » India » Money » Kotak Smart Advantage insurance plan details

Kotak Smart Advantage insurance plan details

Kotak Smart Advantage plan, whose tag is line is Make every rupee work for your happiness is essentially a Unit linked Insurance plan (ULIP) which basically accumulates your wealth systematically.

The thing with ULIP’s, as you may know is that the Units are linked with the Stock    market and so their value can vary accordingly. But you will have the option in  your hand as to what percent of the premium you pay should be allocated into the  Stock market. As far as this plan is concerned, you can allocate up to 100% (more % means more risk and more possible rewards) of your  premium values. You have the option of allocating your funds either in Dynamic Bond, Dynamic Floor bond or Opportunities bond.

Having said that, ULIP’s depend on Stock market prices, Kotak Smart Advantage plan has some guarantee returns. It guarantee’s returns of up to 275% of the first years premium value at the time of policy maturity. This benefit can be maximized by choosing a longer premium payment term. It also gives loyalty bonus at regular intervals to increase the fund value (which essentially means that the number of units will be increased due to the bonus).

Speaking about the premium allocation part, Kotak Smart Advantage plan gives you 100% premium allocation for yearly premium value which is equal to or more than Rs.36000, which kotak-smart-advantage-planresults is greater returns in long term. A small charge of up to 2% will be levied on Annual premiums less than Rs.36000 but this charge will be reduced to 0% from the 11th year of premium payment.

Smart advantage plan also has a flexible life cover plan that you can opt from for the same amount of annual premium.

Any person up to a maximum age of 65 years is allowed to be a part of this plan.

The plan term can be chosen from 10-15-20-25-30 years provided the maximum age of the person during the maturity is not above 75 years (This means that a 65 years old person can only opt for a 10 year term plan, all other conditions being satisfied).

The minimum annual premium amount required is Rs.15000.

Update: This plan has been withdrawn by the company. It’s not unusual for insurance companies to withdraw their plans from time to time. There could be various reasons for withdrawal; the performance is not as anticipated, the existing plan might have been slightly modified and introduced under a different name etc. Existing customers though, will be supported through out the plan period.

Check Also

Central Bank of India Cent Double scheme (deposit doubles in 7 ½ yrs)

People normally (and obviously) get attracted when they see schemes that ‘double their investment’ in …

29 comments

  1. JITENDRA MIRAJKAR

    Hello,
    I have take kotak smart advantage plan in 2008.
    First they told me its lock in period is 3 years also if we don’t like the plan we can surrender with in 15 days.
    WITHIN 10 DAYS ONLY I TOLD THEM THAT I FEEL SERVICE IS NOT PROPER AND I WANT TO NOT CONTINUE WITH THIS POLICY. THEIR CUSTOMER SERVICE EXECUTIVE WHO WAS A LADY IN SION TOLD ME THAT THEN I HAVE LEAVE 2 FIRST CHEQUES WHICH I HAVE ALREADY PAID THEM. NOW AFTER 3 YEARS THEY ARE TELLING ME THAT THE POLICY HAD TO CONTINUE MINIMUM 8 YEARS OR I HAVE TO LOSE FIRST YEARS AMOUNT.
    I AM TERRIBLY UPSET WITH THAT WAY THEY TALKS AND BEHALF. ITS MY SUGGESTION TO ALL NEVER EVER INVEST IN KOTAK AGAIN.

  2. Hi,
    Really kotak is big cheater. Please dont do any investment in kotak. They are very big cheater.

  3. Kotak Smart Advantage is a scam Kotak people are cheat. I have invested one lakh eight thousand in three years with yearly premium of 36k. now when i want to surrender my policy, I am shocked to know this that the fund value of my invested capital is only 69 k that means i lost 40 k after investing.

    please don’t buy any investment plan with kotak.

  4. The kotak plans are reality waste. I too have bad experiance. Kotak representaive always miss guide investor. There is no return from the investment in Kotak. I am in total loss

  5. i would like to know more information about this plan…such as present status of my fund….etc
    please mail.the information..or any link from which i can know the information..

  6. Hi All,
    I too was misguided by the agent at time of purchasing the policy,they never told me the complete terms and condition. and no one has time to read the entire policy document,
    Kotak life insurance is a very big cheater, they never tell you the truth. they are worst. Never ever go for KOTAK Policy. be aware of them cheaters…
    Thanks
    Dharmendra

  7. I have invested in Kotak Smart Life 3and half year back with 12ooo annual premium.Now my fund value is 20000,So guide me should i continue my premium or should i stop pay my remaining premium.

  8. The executive of kotak are misguiding people, they don`t have the knowledge of any plan . One of your agent Mr dhiraj who was visited at my home he totally misguide me & he told me if u give me more clients co. will pay u 1000/- Rs. per client. i didn’t get a single rupees from ur co. even i introduce 3 person who has taken this policy. He told me after 3 & 1/2 yrs if u withdraw money u will get triple benefits against ur total premium paid. so tell me the exact benefits of this plan, iam paying 1000/- premium monthly. This i come to know when i read several comments of ur clients.

  9. I have invested in Kotak Smart Advantage Plan in 2008 now; now 3 years has been done. please guide me should i continue or surrender the policy

    • Hi Sandesh,

      I too was misguided at the time of purchasing the policy, but now the only option left is to continue to get some benefits. Do not surrender the policy now as you will end up loosing your hard earned money.

  10. Please don’t go for any of policy for KOTAK.
    Kotak people does not have a good knowledgeable employees.
    Only they have employees which are there to sell any product of KOTAK.
    for that they will provide you very wrong information.
    I have visited their office and the senior persons are also not completely aware of what
    product they are selling………
    So……..be aware from KOTAK POLICIES…………..
    I m suffering from it………..
    Almost I loosed my lot of money it……………..

  11. ashok chandra tripathi

    I have investested Ksmartadvantage ULIP of Premium 50000/- yearly The agent said to pay three premium and on completion of 3 years i can claim the money. wahat wi;; be my maturity value after three years.

    • Hi,
      Kotak agents are very cheat people…….
      They provides almost wrong information…..
      You will not get your first premium amount if you surrender your policy…..
      you will get it after maturity only……..
      After 3 years whatever your 2 year premium fund value is that much only you will
      get……

  12. i want to change my ecs bank from citibank to sbi .
    plz, give me all details about this.

  13. Executives at the time of selling the scheme totally misguided and the scheme appears to be useless. Its good for nothing. No one takes care of customer after purchasing of the scheme. No one should go to any of the kotak scheme

  14. I am already having this plan, but don’t know where to check the present status of this fund. It is not listed in any Kotaks’s funds list. Please let me know how this fund is running in market and where to check the same.

  15. kotak agent gives us fake information about plan, i already suffered

  16. chandubhai patel

    pl.more inf. about kotak super advantag plan

  17. hi, this kirpal i am just know about kotak smart advantage plan it’s good for investment;

    • Hi Kirpal,

      Really Kotak Smart now Super advantage plan is good one for investment .If u have any queries kindly go to website of Kotak. Every details are there. If u have any queries u can write to me also.

      Regards,

      Prem

  18. Hi friends,
    First thing, Please dont go for the kotak smart advantage plan.I had taken this plan.
    Its of not worth and the executives of kotak are not co-opertaive.Befor taking policy they will talk
    very good with you,but after that they will behave like go to hell.
    And if you ask any thing after taking the policy they will tell that we haven’t told like this.
    Its just like a trap and if you require any further details,executives names, please contact me on this no.-9850890969
    Specially PUNE people be-aware from this.

    • Hi Rahul, Tried to call you today, but there was no reply. You must have got a missed call from +919310745822

      Wanted to check with you on the details about this policy.

    • Kotak life insurance is a very big cheater..their executive never tells you truth you only comes to know truth after you get the policy agreement and it will be total different then what they said…… they are beggar never buy insurance from Kotak life (Delhi ka thag)

  19. chandrakanth sharma

    Hi,

    I am already having this plan, but don’t know where to check the present status of this fund. It is not listed in any Kotaks’s funds list. Please let me know how this fund is running in market and where to check the same.

  20. Hi,
    I have already bhaving this plan, but don’t know where to check the present status of this fund. It is not listed in any Kotaks’s funds list. Please let me know how this fund is running in market and where to check the same.

    Thanks, Umesh

  21. Hi Gaurav Kapoor,you can take the desired life insurance coverage in smart advantage plan subject to medicals.

  22. Gopala Krishnan.R

    Hi,
    this is gopal.
    I would like to know the medical coverges for this policy.

  23. Hello,
    this is gourav kapoor.
    I would like to know more information about this plan such as the death benefit etc. Send that information to my email ID provided above

Leave a Reply

Your email address will not be published. Required fields are marked *