This i come to know when i read several comments of ur clients. Dear Ashal, Yes the surrender charges are huge and that is why I was hesitant to surrender it, but i feel i will loose even if i continue, kindly suggest if i should continue till 8th year and then withdraw it. But then, it is meant to wake you up from your stupor and start acting responsibly. Partial Withdrawals for easy liquidity You can access your investments by way of partial withdrawals after payment of full premiums for first three policy years and if the life insured has completed 18 years of age, subject to applicable charges. My objective for writing this is to find answers to these questions 1 Is there a collaboration where we can get together and go legal with them? I have been requesting them to give me an appointment with a senior official but in vain. Kotak Mahindra Old Mutual Life Insurance Ltd is only the name of the Insurance Company and Kotak Smart Advantage Plan is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. The difference was the plan protected the investor by ensuring min 90% of the invested money as the fund's value at all times.
There are two type of options to choose from 1 Fixed advantage 2 Dynamic advantage. Kotak are taking advantage in Smart way and cheating public. The longer your premium paying term, the higher will be the value of the advantage in this investment plan. I had taken this plan. The percentage of the Dynamic Advantage benefit paid at the end of policy year is as follows: 10 years — 1.
I stopped paying the premium after that. I lost a total of 30000 by this deal instead of a 135% return as committed by the false agent I need expert opinion on this what i need to do now. The Assured Addition Advantage is as a powerful combination of the following two benefits, both of which are paid, provided your policy is in force and all premiums are fully paid up to date: A. I feel so dejected, dissappointed and sad for being wrongly committed. I want to put this money for a long term as a wealth creation, as insurance is covered by a term plan for my family 3. Switch between the funds for better financial management Switching is allowed anytime subject to applicable charges during the term of the policy between the available fund options to match your investment objectives and maximize your returns. This is a unit linked non-participating plan.
For more details on risk factors, terms and conditions please download the product brochure. Kotak Smart Advantage of Kotak Life Insurance is an cover and an investment plan combined to give you better returns for the future. But today i received a call from mumbai office. The percentage of the Dynamic Advantage benefit paid at the end of policy year is 1. Learn and understand, at least the basics of investing. To start viewing messages, select the forum that you want to visit from the selection below.
And in future, do not buy anything which you do not understand which just is a different way of saying, increase your understanding. It just comes back to your ignorance and greed. It turns out that you have to pay premium for three years, and they give you a 100% bonus. Can you provide more details if in case I can help you. Never ever got a single reply. Ramesh Dear Nilesh, all of us are trying to help you. Invest your surplus capital as Top-up Premiums You can invest your surplus funds at any time as Top-Ups, thus adding to your savings potential.
The available funds are Dynamic Bond Fund, Opportunities Fund and Dynamic Floor Fund. I have tried their toll free numbers, their registered office numbers and have not been successful in even talking to anyone leave aside the funds and the funds value. High Premium Allocation Kotak Smart Advantage Plan gives you 100% premium allocation for annual premium sizes equal to and above Rs. Ingale, We regret to note that your experience has not been commensurate with what we strive to provide. Almost I loosed my lot of money it…………….
This benefit is calculated as a percentage of the average value of funds in the three years preceding the benefit allocation, provided your policy is in force and all premiums are paid. One has to wait for 8 years for surrender. Also was told many benefits also that will get loyalty bonus every five years and blah blah. Kotak life insurance is the worst company I have ever come across. I don't want any interest just please return my original amount atleast.
A long term view regarding your life insurance policy is beneficial because when you stay invested, your investments compound year after year resulting in good returns in the long term while keeping your family protected. Kotak Super Advantage is an intelligent unit-linked investment plan that is based upon the idea of regular long term savings and systematic accumulation of wealth. Kotak officials come to home immediately for openign a new policy. My clear recomendation is cancel the policy and invest in some good policy where you will be able to cover up your principal loss amount. But if in case grievance no body will turn up.
Email: ; Toll Free No : 1800 209 8800. Hi friends, First thing, Please dont go for the kotak smart advantage plan. Make a written statement about that now. If i surrender policy what i will get. This is shocking even after 3 years which was supposed to be locking period nothing changed and i am duped.