The facility is available to all active IFAs empanelled with Kotak Mutual Fund.
Kotak Mutual Fund has launched ‘Trail Insure’ facility for its distributors. Under this facility, Kotak MF will provide a lump sum amount to the family/nominee of the distributor, which will be equivalent to 10 times of his/her last drawn annual trail amount (payout is subject to a maximum of Rs. 1 crore) in the unfortunate event of his/her death.
This facility would be available for all the empanelled IFAs* of Kotak MF as on 30th September 2013.
“We believe that in the unfortunate event of one’s death, the family members require financial support immediately and at that moment. With Trail Insure, this one time lump sum amount is paid and thus helps the family when they need financial support. This is the most unique feature of Trail Insure,” said Kaiyomurz Daver, Head of Marketing, Kotak Mutual Fund.
The retirement age of the IFA is capped at 65 years. This means that IFAs who are above 65 years of age would not be eligible for this scheme.
Reliance Mutual Fund had launched a similar facility for its distributors recently. Fund houses like Birla Sun Life and UTI also provide such schemes to its distributors.
**For continuation of the programme, IFAs have to submit at least one equity SIP application per month to Kotak AMC.