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Kotak Assured Savings and Investment Life Insurance Plan and Policy

Kotak Assured Savings and Investment Life Insurance Plan and Policy - Kotak Assured Savings Plan is a life insurance plan that also acts as a good financial strategy. The plan not only offers you protection but it also lets the insured accumulate wealth to achieve their financial goals. The Kotak Life plan offers guaranteed returns along with a wide range of benefits and offers.

Eligibility - Kotak Assured Savings and Investment Life Insurance Plan and Policy

Type of eligibility

Eligibility criteria

Minimum age

3 years

Maximum age

16 years

Minimum maturity age

18 years

Maximum maturity age

75 years

Minimum annual premium

Rs.20,000

Maximum annual premium

No limit, subject to underwriting

Premium payment mode

Yearly, Half yearly, Quarterly, Monthly

Key Features - Kotak Assured Savings and Investment Life Insurance Plan and Policy

Type

Traditional money back plan

Sum assured

10 times the annual premium

Basis

Individual

Premiums

Minimum Rs.20,000

Premium paying term

15 years

Premium paying modes

Yearly, Half yearly, Quarterly, Monthly

Increasing life cover

Guaranteed yearly additions for every paid premium which is paid at maturity or death

Value for money

Higher premium results in higher basic sum assured

Riders

The plan has a wide range of riders available

Tax benefits

The plan offers tax benefits

Loan

One can avail loan up to 50% of surrender value

Grace period

A grace period of up to 30 days is offered on the plan

Free look period

The policy offers a free look period of 15 days

Benefits/Advantages - Kotak Assured Savings and Investment Life Insurance Plan and Policy

  • It is a moneyback plan with bonus facility
  • Offers guaranteed payout
  • Offers four additional riders
  • Survival benefit:This plan pays out every year from the end of 10th Policy year onwards for a period of 20 years. The payout depends on the Annual Premium.
  • Death benefit:If the Life Insured dies within the policy tenure, the Sum Assured is paid as Death Benefit, irrespective of the amount already paid out and the policy is terminated.
  • Maturity benefit:Basic sum assured along with guaranteed loyalty addition and guaranteed yearly addition is paid at maturity.
  • Income Tax Benefit: Life Insurance premiums paid up to Rs.1,00,000 are allowed as a deduction from the taxable income each year under section 80C

How Does The - Kotak Assured Savings and Investment Life Insurance Plan and Policy Work?

Listed below is the basic sum assured granted for an annual premium of Rs.20,000 for entry ages of 3 and 60 years.

Age

Policy term

Premium Payment term

Basic Sum assured

3 years

15 years

5 years

Rs.1,36,780

3 years

20 years

10 years

Rs.2,42,340

60 years

15 years

10 years

Rs.1,19,896

Riders/Add-on Covers - Kotak Assured Savings and Investment Life Insurance Plan and Policy

  • Kotak term benefit- In case of the demise of the insured, rider sum assured and death benefit under base plan will be paid completely.
  • Kotak life guardian benefit-Outstanding premiums will be waived off and will be paid by the bank in case of death of the policyholder.
  • Kotak accidental disability guardian benefit- Outstanding premiums will be waived off in case of accidental disability of the policyholder.
  • Loan facility- One can avail loans up to 50% of the surrender value to a minimum loan amount up to Rs.10,000.

Kotak Saving and Investment Life Insurance Plans and Policy

 

Kotak Saving and Investment Plans
Kotak Invest Maxima
Kotak Single Invest Advantage
Kotak Wealth
Kotak Gramin Bima
Kotak Sampoorn Bima Micro-Insurance Plan
Kotak Single Invest Plus
Kotak Premier Life
Kotak Classic Endowment
Kotak Premier Endowment
Kotak Assured Income
Kotak Assured Savings
Kotak Assured Income Accelerator
Kotak Premier Moneyback
Kotak Platinum
Kotak Ace Investment
Kotak Premier Income
Kotak Guaranteed Savings
Kotak Retirement Plans
Kotak Lifetime Income Plan
Kotak Premier Pension Plan
Kotak Child Life Insurance Plans
Kotak Headstart Child Assure

Kotak Group Insurance Plans
Kotak Group Insurance Plans
Kotak Gratuity Group Plan
Kotak Gratuity Plus Group Plan
Kotak Secure Return Employee Benefit Plan
Kotak Leave Encashment Group Plan
Kotak Secure Return Superannuation Plan
Kotak Superannuation Group Plan – II
Kotak Term Group Plan
Kotak Credit Term Group Plan
Kotak Group Secure
Kotak Group Secure One
Kotak Raksha Group Micro Insurance Plan
Kotak Group Assure
Kotak Group Shield
Kotak Complete Cover Group Plan