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Corporate Overview
About Kotak Mahindra Old Mutual Life Insurance Ltd
Kotak Mahindra Old Mutual Life Insurance Ltd is a 74:26 joint venture between Kotak
Mahindra Bank Ltd., its affiliates and Old Mutual plc. The company started operations in 2001,
and strives to offer its customers outstanding value through high customer empathy, consistent
and benchmarked service and a suite of products that leverage the combined prowess of
protection and long term savings. The company covers over 4 million lives and is one of the
fastest growing insurance companies in India.
About Kotak Mahindra Group
Established in 1985, the Kotak Mahindra group is one of India's leading financial
services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's
flagship company, received a banking license from the Reserve Bank of India (RBI). With this,
KMFL became the first non-banking finance company in India to become a bank – Kotak
Mahindra Bank Limited.
The consolidated balance sheet of Kotak Mahindra group is over Rs. 1.17 lakh crore and
the consolidated net worth of the Group stands at Rs. 17,228 crore (approx US$ 2.9 billion) as on
June 30, 2013. The Group offers a wide range of financial services that encompass every sphere
of life. From commercial banking, to stock broking, mutual funds, life insurance and investment
banking, the Group caters to the diverse financial needs of individuals and the corporate sector.
The Group has a wide distribution network through branches and franchisees across India, and
international offices in London, New York, Dubai, Abu Dhabi, Mauritius and Singapore. For
more information, please visit the company's website at http://www.kotak.com.
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Old Mutual
Old Mutual provides life assurance, asset management, banking and general insurance to more than 14 million customers in Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999.
In the year ended 31 December 2012, the Group reported adjusted operating profit before tax of £1.6 billion (on an IFRS basis) and had £262 billion of funds under management from core operations.
For further information on Old Mutual plc, please visit the corporate website www.oldmutual.com.- See more at: http://insur ance.kotak.com/about-us/corporate-overview.php#sthash.0dTKiG9o.dpuf
Our Vision and Mission Statement
An uncommon bond. Strengthened by a common vision.
Apart from common beliefs, values and objectives we believe in the vision of a better
tomorrow. It is this deep veneer of faith that has brought us together and fortified our bond.
The global Indian financial services brand
Our customers will enjoy the benefits of dealing with a global Indian brand that best
understands their needs and delivers customised pragmatic solutions across multiple platforms.
We will be a world-class Indian financial services group. Our technology and best practices will
be benchmarked along international lines while our understanding of customers will be uniquely
Indian. We will be more than a repository of our customers' savings. We, the group, will be a
single window to every financial service in a customer's universe.
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The most preferred employer in financial services
A culture of empowerment coupled with a spirit of enterprise, attracts bright minds with an
entrepreneurial streak to join us and stay with us. Working with a home-grown, professionally-
managed company, which has partnerships with international leaders, gives our people a
perspective that is universal as well as unique.
The most trusted financial services company
We will create an ethos of trust across all our constituents. Adhering to high standards of
compliance and corporate governance will be an integral part of building trust.
Value creation
Value creation rather than size alone will be our business driver.
- See more at: http://insurance.kotak.com/about-us/vision-mission.php#sthash.BZR13SrJ.dpuf
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An Introduction to Protection Plans
Securing your family’s well-being is one of the most important goals of life. Insurance
Protection plans help you secure your loved one’s future against life’s uncertainties. Your
untimely death can cause a major setback to your family - both emotionally as well as
financially, especially if you are the sole breadwinner. With a term life insurance policy, you can
ensure your family’s financial independence, in case anything untoward happens to you. Besides,
term plans are cost-effective too, as they focus on providing only life cover and no returns.
A term life insurance policy, thus, sets you free from the worries of what will happen to
your loved ones in your absence, letting your family and you enjoy life with peace of mind.
With protection plans you can give your family:
Financial security
Emotional wellbeing
Freedom from the burden of debt
Guarantee of a life with dignity and self-respect
Protection plans we offer:Kotak Saral Suraksha
Kotak Term/Preferred Term Plan
Kotak e-Term/e-Preferred Term
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Kotak Eternal Life Plans
Compare plans
[01] Kotak Saral Suraksha
Low cost insurance
Kotak Saral Suraksha provides significant cover at a very low premium. You choose the
sum assured in this plan to ensure adequate financial cover for your family. The benefit payable
to your family in case of an unfortunate death during the policy term will be:
Policy Year Benefit Payable
1st Policy Year All premiums paid
2nd Policy Year onwards Sum Assured1
Thus, your family will have the support of a financial cushion any time a mishap like death happens.
Choice of policy term
The Kotak Saral Suraksha plan provides you an option of two policy terms. Depending
on your need, you can opt for a policy term of 5 or 10 yeaRs The insurance cover, as explained
above, will be applicable for this term. Thus you will be able to mould the plan as per your
protection requirement.
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Convenient premium payment options
Premiums can be paid over a 5-year premium payment term or as a single premium.
These premium payment options are available for both the policy terms – 5 and 10 yeaRs If you
opt for premium payment over a 5-year period, you can pay your premiums annually or half-
yearly depending upon your income pattern and convenience. Based on your comfort level, you
can choose how you want to pay your premiums.
Eligibility:
Entry Age 18 – 55 years
Maturity Age Minimum: 23 years
Maximum: 65 years
Policy Term 5 or 10 years
Premium Payment
Mode
Single/Annual/Half-yearly
Premium Payment Term 5 years or single payment
Premium
Modal
Factor
Premium mode
Annual
Half-yearly
Premium Modal Factor
100%
51%
Premium Payment = Premium Mode x Premium Modal
Factor
Sum Assured Choice of:
Rs 5,000
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Rs 10,000
Rs 15,000
Rs 25,000
Rs 50,000
Rs 75,000 or
Rs 100,000
General Exclusion
In case the life insured commits suicide within one year of the date of issue of the plan or
date of revival, the beneficiary would not receive any of the benefits outlined in the plan.
[02] Kotak e-Term/e-Preferred Term
High cover at a low cost
When you buy a pure protection plan, the plan itself provides you a high cover at low prices as
compared to other kinds of insurance plans.
Low premium for women and non-tobacco users
If you are a non-tobacco user, you get lower rates than usual. The rates are even lesser for
women. Thus, you get rewarded for your healthy lifestyle habits in this online life insurance
plan.
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Quick and hassle-free buying
You can buy insurance online conveniently sitting at home through the internet. The paperwork
is minimal and the document collection happens at your home. As a result, you can efficiently
utilise your precious time than spending it on paperwork or visiting a branch.
Increase your life cover in a hassle free manner
You may get additional insurance cover at certain important stages of your life in a cost-effective
manner and without the hassle of any medical examination. Thus, increasing life cover would be
as easy as pie for you.
No medical examination
There would be no medical examination for purchase of a life cover upto 50 lacs and if the life to
be insured is upto 40 years of age. Hence, buying this plan would not involve time consuming
and tedious trips to the clinic and the buying process is a cakewalk.
Eligibility:
Entry age (as on last
birthday)
18 - 65 years
Maturity age Maximum: 70 years
Policy Term Minimum: 5 years Maximum: 30 years
Sum Assured Kotak e-Term:
Minimum: Rs.3,00,000 Maximum: Rs.24,99,999
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Kotak e-Preferred Term:
Minimum: Rs.25,00,000 Maximum: Subject to
underwriting
Annual Premium Minimum: Rs. 1,800 Maximum: Based on Sum Assured
[03] Kotak Term/Preferred Term
Low Cost insurance plan
Kotak Term Plan / Kotak Preferred Term Plan provides you the benefit of having a high cover at
economical prices. It also offers reduced premiums for women. Furthermore, in Kotak Preferred
Term Plan, for a sum assured of Rs 25 lakh and above, special premium rates are offered to non-
tobacco users. Hence, this plan provides you a good value proposition for your money.
Choice of premium payment mode
Whether you prefer a single payment mode or the regular option of premium payments over the
policy years, we have the right solutions for you. If you opt for the regular mode, you still have
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the choice of annual, half-yearly, quarterly or monthly premium payment. Thus, you are offered
high level of flexibility in paying premiums the way you choose.
Plan conversion option
For enhanced protection, there is an option of converting your Kotak Term Plan / Kotak
Preferred Term Plan policy to a policy of any other plan* offered by Kotak Life Insurance
(except for term plans). So long as there are at least 5 years remaining before the cover ceases,
you can avail this option. Thus, with your changing needs you can actually convert your plan
into a different one that better suits your needs.
*Subject to the product specific conditions
Additional protectionIn case you have selected the regular premium payment option, you can enhance your protection with the following rider plans if they do not exceed 30% the premium (except for Kotak Critical Illness Benefit) for your Kotak Term Plan / Kotak Preferred Term Plan policy.
Rider Plan Benefits Payable
Kotak Critical Illness
Benefit (CIB)
Portion of the basic sum assured paid in advance on admission
of a critical illness claim
Kotak Accidental Death
Benefit
Lump sum benefit paid upon accidental death
Kotak Permanent
Disability Benefit
Payout in installments upon admission of claim of disability
Additional premiums apply with these rider plans. Please refer to the rider brochure for more details or Contact a Kotak Life Advisor.
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Eligibility:
Entry Age 18 – 65 years
Maturity Age Maximum: 70 years
Policy Term Minimum: 5 years Maximum: 30 years
Premium Payment Mode Single premium payment
OR
Annual/Half-yearly/Quarterly/Monthly
General Exclusion
In case the life insured commits suicide within one year of the date of issue of the plan or date of
revival, the beneficiary would not receive any of the benefits outlined in the plan.
[04] Kotak Eternal Life Plans
Cash rewards on survival to the end of premium paying term
Bonuses accumulated in your account are paid at the end of the premium paying term. With that
money, you can probably fund an interim expenditure of your life. For example – sponsoring
higher education of your children.
Life insurance benefits which last a lifetime
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Whether it’s during the premium payment period or till 99 years of age, we help lessen the
financial burden your family could face in the unfortunate event of a demise by offering the sum
assured and applicable bonuses to the nominees. Thus, we ensure your family stays financially
secure at all times through this whole life insurance plan.
Cash lump sum at 99 years of age in the form of additional bonuses
On achieving the age of 99, the company pays you a guaranteed* sum assured plus all applicable
bonuses. We ensure that even at the age of 99, you have enough to leave behind a legacy for
your family.
Plan options that best suit your needs
Choose between two unique variants to take care of all your life’s needs:
Eternal Life Premier Shield
The Eternal Life Premier Shield plan gives you comprehensive whole life insurance coverage till
the age of 99 with premiums that match your income and lifestyle. This means that in the initial
years you pay lower premiums as the need for life cover is not very high at that time and with the
rise in your earnings and standard of living, your premiums keeps pace.
Eternal Life Classic Shield
Offering comprehensive whole life insurance coverage till the age of 99, the Eternal Life Classic
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Shield plan features premiums that don’t increase, unlike the Eternal Life Premier Shield plan. In
addition, it also has flexible premium payment terms to suit your specific requirements.
*Applicable where all premiums have been paid in full and as scheduled as at date of benefit
claim, and where the policy has not been made paid-up
Eligibility:
Premium Payment Term 15 years
Minimum amount
Annual: Rs. 10,000
Maximum amount
No limit
Maximum Age at which premium payment
ceases
75 years
Entry Age for Life to be Insured Min – 0 years, Max – 65 years
Regular Term of the Policy (99 – Entry Age) years
Maturity Age 99 years
Maximum Age at Which Premium
Payment Ceases
75 years
Premium Payment Term Min: 10 years / Greater of (10, 18 minus the entry
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age) (for minor)
Max: Lesser of (75 minus age at entry, 40)
Min. Premium Regular For 10 to - 14 years payment term:
Annual: Rs 10,000
Half-yearly: Rs 5100
Quarterly: Rs 2600
Monthly: Rs 850
For 15+ years Payment Term Annual: Rs 6000
Half-yearly: Rs 3060
Quarterly: Rs 1560
Monthly: Rs 510
[05] Kotak Assured Protection Plan
Comprehensive protection
Plan offers cover on:
Death (due to natural causes)
Accidental Death
Critical Illness
Accidental Disability (waiver of premium)
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Option to pay premiums for a limited term
With this plan, you have the option for paying premiums until the age of 60 yrs or for fixed term
of 15 years. You have the flexibility to choose any one of the option suiting your need.
Payout on maturity
In addition to protection cover, on maturity of the plan full Sum Assured is paid out
Eligibility:
Entry Age Min: 18 years, Max: 50 years
Maturity Age Fixed: 75 years
Policy Term Maturity Age minus Entry Age
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Basic Sum Assured Min: 3 lakhs
Max: 25 lakhs (subject to underwriting)
Premium Payment Term Option I: Upto the policy anniversary after attainment of age 60
Option II: 15 years
Premium Payment Mode Yearly, Half yearly, Quarterly, Monthly
Premium Min: Rs. 5,000 p.a.
Max: Based on maximum Sum Assured
Premium Modal Factor Yearly - 100% ,
Half yearly - 51% ,
Quarterly - 26% ,
Monthly - 8.8%
Child Plan
[01] Kotak Child Advantage Plan
Receive what you have invested and more
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With the Kotak Child Advantage Plan, you can be assured that your money continues to grow
with compounding bonuses, year after year.
Waiver of premium facility
Should you no longer be around to provide for your children, we will help ease their financial
burden by waiving all future premium payments. All you need to do is opt for added life
insurance protection via the Life Guardian Benefit or Accidental Disability Guardian Benefit
rider plans, giving your children the corpus needed for their education or marriage through the
maturity benefit.
Additional protection
Enhance your protection with these rider plans:
Rider Plan Benefits Payable
Kotak Life Guardian Benefit (LGB) Waiver of premiums upon death and all future premiums
will be paid by Kotak Life Insurance
Kotak Accidental Disability
Guardian Benefit (ADGB)
Waiver of premiums upon disability and all future
premiums will be paid by Kotak Life Insurance
Eligibility:
Entry Age of Child 0 to 17 years
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Policy Term Minimum: 10 years Maximum: 30 years
Premium Payment Mode
Annual / half-yearly / quarterly / monthly
Premium Payment Term RegularPayment applies throughout policy term
Minimum PaymentAnnual: Rs 4,000
Basic Sum Assured Maximum Sum AssuredRs 2,500,000
General Exclusions
In case the life insured commits suicide within one year of the plan, no benefits outlined in the
plan will be payable.
[02] Kotak Headstart Child Assure
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Receive a planned corpus at maturity
Your regular investments made with this plan will provide you with a planned corpus upon the
maturity of the plan, ensuring that the cost of education will never be a deterrent to fulfilling
your children’s dreams.
Secure the well-being of your family through triple protection
In the unfortunate event of a parent’s death, Kotak Life Insurance helps lessen the financial
burden the child might face by providing the benefit of triple protection as follows:
Your beneficiary is paid the life cover amount immediately to compensate for immediate loss of
income.
All future premiums of this insurance policy will be waived and fully paid for by Kotak Life
Insurance.
Your beneficiary will receive the fund value of the insurance policy.
Build the maturity amount as per your risk return preference
Our range of eight funds is suitable for all types of investors, aggressive or safe. Invest in the
fund option most suited for your risk-returns preference to build a corpus in a way you deem fit.
Whichever the fund you choose, you can be rest assured that it is managed by our team of highly
qualified fund managers..
Flexible premium payment period
To ensure that a long term payment obligation does not hamper you from planning your finances,
we offer you the following payment methods:
5-year premium payment period for a policy term of 10 years, or
10-year premium payment period for policy terms of 15 to 25 years.
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In addition, with the option to pay annually, half-yearly, quarterly or monthly, this could be an
apt child plan for your children and you.
Additional protection
Opt for additional riders to safeguard your family from eventualities like a critical illness, an
accidental death, disability and permanent disability. These riders will ensure that your children
are well-protected from financial consequences to give you peace of mind.
Additional premiums apply with these rider plans. Please contact a Kotak Life Advisor to find
out more.
Eligibility:
Entry Age of Child 18 to 60 years
Policy Term 10, 15 and 25 years
Premium Payment Mode Annual/half-yearly/quarterly/monthly
Premium Payment Term Regular
Payment applies throughout policy term.
Minimum: Rs 20,000 p.a.
Limited premium payment
Policy term of 5 years - Minimum: Rs 50,000 p.a.
Policy term of 10 years - Minimum: Rs 20,000 p.a.
Basic Sum Assured Maximum Sum Assured
25 x annual premium
General Exclusions
In case the life insured commits suicide within one year of date of issue of the policy, the
beneficiary will still receive the fund value.
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[03] Kotak Child Edu Plan
Financial support for child’s education at various milestones
Kotak Child Edu Plan provides financial support to the child to pursue his/her education without
any worries by paying a guaranteed* amount equal to 125% of the basic sum assured. Edu
Boosters will be paid at important milestones in the life of the child as described below:
The above benefits shall be payable even in case of the parent's untimely demise, to ensure
financial independence of the child.
Hence, there is no paucity of money at various stages of the child’s education requirements.
Edu Booster
Policy Anniversary After the Child’s
Birthday
% of Basic Sum Assured
15 years 15%
17 years 20%
19 years 30%
21 years 60%
Total Payout 125%
Bonus payouts at maturity
To ensure that your savings for your child earn returns, we pay out applicable bonuses to you at
maturity, in addition to the last Edu Booster.
Comprehensive protection of life cover
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In the event of the life insured’s unfortunate demise, this plan will support the child with the
following benefits:
200% of sum assured paid immediately
No obligation to pay future premium payments and policy continues as originally
scheduled.
The Edu Boosters will be paid as scheduled.
All applicable bonuses will also be paid at maturity.
The life cover is designed in such a way to ensure that even after demise, the child gets all the
benefits as intended. This will ensure that demise can never come in the way of your children’s
future.
Enhanced protection from an accidental disability
In the event of an accidental disability, your child’s education need not suffer. Hence, we provide
you the following benefits:
Future premium payment obligation ceases and policy continues as planned
The Edu Booster will be paid as scheduled
The applicable bonuses will be paid at maturity
Discount on higher cover choice
We understand the importance of adequate protection. Hence, individuals who opt for basic sum
assured of Rs 5,00,000 and above are provided a premium discount of Rs 2 per Rs 1000 basic
sum assured.
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Eligibility:
Life Insured
(Same as Policyholder)
Generally parent/grandparent of the child (or
other suitable relative)
Entry Age Minimum: Child - 0 years, Life Insured: 18
years
Maximum: Child - 10 years, Life Insured : 64
years
Maturity Age Minimum: Child - 21 years, Life Insured: 29
years
Maximum: Child - 21 years, Life Insured: 75
years
Policy Term 21 years less entry age of child
Minimum: 11 years
Maximum: 21 years
Premium Payment Term 17 years less entry age of child
Sum Assured Minimum: Rs 2,00,000, Maximum: No limit
Premium Based on sum assured
Premium Modal Factor Yearly - 100%
Half yearly - 51%
Quarterly - 26%
Monthly - 8.8%
General Exclusions
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In the event of the life insured committing suicide within one year of the date of issue of the
policy, no benefit will be paid. In case of suicide within one year of the date of revival of the
policy, Surrender Value as on date of claim event will be payable.
[04] Kotak Child Future Plan
Financial support through Future Boosters
Kotak Child Future Plan provides financial support to your child to pursue his/her career without
any worries. Future Boosters will be paid on the policy anniversary after the child attains certain
milestone ages, as described below:
Future Booster
Age of Child % of Basic Sum Assured
After Child’s 23rd Birthday 15%
After Child’s 25th Birthday 110%
Total Payout 125%
The above benefits shall be payable even in case of life insured's accidental disability or
untimely demise.
This will ensure that the child is well supported at the crucial junctures where he is starting off
his career.
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Bonus payouts
At the end of the policy term, the applicable bonuses accrued till the end of the policy term will
be payable in addition to the last Future Booster. Thus, in addition to providing life insurance, it
offers returns on the savings for your child.
A Comprehensive Life Cover
In the event of life insured’s unfortunate demise, this plan will support the child with the
following benefits:
200% of sum assured paid immediately
No obligation to pay future premium payments and policy continues as originally
scheduled.
The Future Boosters will be paid as scheduled.
All applicable bonuses (if any) will also be paid at maturity.
The life cover is designed in such a way to ensure that even after demise, the child gets all the
benefits as intended. This will ensure that demise can never come in the way of your children’s
future.
Certainty of benefits even in case of an accidental disability
In case the life insured meets with an accidental disability, the following benefits is provided:
No obligation to pay future premium payments and policy continues as originally
scheduled.
The Future Boosters will be paid as scheduled.
All applicable bonuses will also be paid at maturity.
Enhanced protection through optional riders
You can enhance the protection for your family by taking additional riders which provide
financial support in unfortunate events like accidental death and permanent disability. For
detailed information on riders please refer to Individual Rider brochure.
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Discount at higher levels of protection
A high sum assured discount of Rs 2 per 1000. The sum assured will be offered to policies with
sums assured larger than or equal to Rs 5,00,000. Thus, providing you with cost-effective rates
for enhanced protection.
This plan can be purchased by the Parent / Grand Parent of the child or individuals who want to
protect the child's future e.g. Child's uncle / aunt etc.
Eligibility:
Life Insured
(same as Policyholder)
Generally Parent/ Grandparent of the child (or
other suitable relative)
Entry Age Minimum : Child - 11 years Life Insured: 18
years
Maximum : Child - 15 years Life Insured : 64
years
Maturity Age Minimum : Child - 25 years Life Insured: 28
years
Maximum : Child - 25 years Life Insured: 75
years
Policy Term 25 years less entry age of child
Minimum : 10 years
Maximum: 14 years
Premium Payment Term 10 years (Fixed)
Sum Assured Min: Rs. 2,00,000, Max: No Limit
Premium Based on Sum Assured
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Premium Modal Factor Yearly - 100% , Half yearly - 51% , Quarterly -
26% , Monthly - 8.8%
General Exclusions
In the event of the life insured committing suicide within one year of the date of issue of the
policy, no benefit will be paid. In case of suicide within one year of the date of revival of the
policy, Surrender Value as on date of claim event will be payable.
Retirement Plan
[01] Kotak Capital Multiplier Plan
Accumulate bonuses on your account
Bonuses are declared year-on-year in your account to ensure that the premiums paid by you earn
returns and you are able to accumulate a substantial sum at a future date.
Get a planned corpus on maturity
At maturity of the plan, you are entitled to the higher of the basic sum assured or the total
amount built up in the accumulation account along with the bonuses declared on the policy.
Thus, ensuring that you have accumulated enough to sustain yourself at phases like retirement.
15-year withdrawal period
If you do not see any immediate utilisation of your maturity proceeds, you could let it stay
invested with us for a maximum of 15 years after the maturity of the plan and it could function
like a fixed deposit offering returns and liquidity to withdraw all your funds. This way you can
withdraw money in phases to support various expenses that come your way.
Death benefit for the premium payment term and beyond
In the event of death during the premium payment term (build up phase), the beneficiary would
get the higher of basic sum assured or the total amount built up in the accumulation account. In
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addition, 10% of basic sum assured would also be given to the beneficiary. This would ensure
that an unfortunate event like death can never hinder your family’s financial well-being.
After the premium payment term, if you choose to use the 15-year withdrawal period facility,
you would be eligible for a life cover of 10% of the basic sum assured and the balance in the
accumulation account for that period, even though your plan term has been finished.
Choice to opt for early maturity (in case of ill health)
In this plan, you can even opt for an early maturity citing ill health. For details refer to the
brochure. This feature is to ensure that the long term nature of this plan does not come in the way
for your needing financial support in case of medical emergencies.
Automatic Cover Maintenance to keep the plan going
Future is uncertain and it is difficult to keep up with the obligation of premium payment year-on-
year. Even if you miss a premium payment or two, you can still keep your account with the
Automatic Cover Maintenance that applies after the 3rd policy year.
Additional Protection
You can also opt for additional riders in order to safeguard yourself from eventualities like a
critical illness, an accidental death, disability and permanent disability. These riders fortify your
overall protection and ensure that you have peace of mind.
Eligibility:
Entry age Min. 18 years, Max. 60 years
Term Min. 5 years, Max. 30 years
Maturity Age Min. 23 years, Max. 65 years
Regular Premium (including policy fees)
Min: Rs 10,000 annuallyRs 5115 half-yearly
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Rs 2620 quarterlyRs 860 monthly
Lump Sum Injections Min - Rs 10,000 per payment subject to applicable limitsMax - 25% of basic sum assured during policy year
General Exclusion
In case the life insured commits suicide during the first year of the plan, the beneficiary would
not receive any of the benefits (except the amount in the Supplementary Accumulation Account,
if any) outlined in the plan.
[02] Kotak Lifetime Income Plan
Ensures financial independence post retirement
Provides regular payouts to meet your post-retirement financial needs
Offers a wide range of income options suiting different retirement needs
Plan has four annuity options to suit various customer needs. You can choose the option that
suits you best.
Allows a range of annuity payout frequencies
Monthly, quarterly, half-yearly and yearly income payment modes are offered to suit your
financial needs
Eligibility:
Single Premium (retirement fund) Min: Rs. 50,000/-
Max: No Limit
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Entry Age (as on last birth date) Min: 45 years
Max:99 years
Spouse Entry Age* (as on last birth date) Min: 35 years
Max: 99 years
*For Last Survivor Lifetime Income Option only
Saving & Investment Plan
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS
BORNE BY THE POLICYHOLDER.
The value of your hard-earned money is best understood by you. The most important
requirement is ensuring that the money is put in right use for it to provide benefit to you and your
family in the long run. Prudent investment may not always turn out to be a good investment, as
no one can predict future. Intelligent investment of your hard-earned money can go a long way in
ensuring a bright future for you and your family.
Kotak Life Insurance brings to you Kotak Single Invest Plus, a hassle-free unit linked plan,
where you invest once and reap the benefits throughout the policy term and at the same time stay
protected. Coupled with easy liquidity and a wide array of funds we ensure that your investment
works for you and not vice versa.
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[01] Convenience of onetime payment - Single Premium
Being a single premium plan, there is no obligation of future payments, so just sit back and
relax!
Maximizes your investment value
With no premium allocation charge, most of your premium will get invested giving you the
opportunity for enjoying superior returns. Other charges will be duly applicable.
Joint Life cover - Provides cover on both the lives
Covers two lives under the same plan. Provides benefit on the unfortunate event of first death
and thereafter also continues cover on the surviving life for any further uncertainties.
Advantage of Loyalty Additions
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Plan provides Loyalty Additions at the end of 10th year for a policy of 10 year term and at the
end of 10th & 15th year for a Policy of 15 year term. The Loyalty Addition is calculated as
percentage of the average value of Funds in the Main Account in the three years preceding the
benefit payment.
Premium Payment Loyalty Addition
Rs 30,000 to Rs 49,999 Nil
Rs 50,000 to Rs 1,99,999 2.25%
Rs 2,00,000 & above 3.00%
Option to invest in a wide array of funds
The plan offers 6 fund options to choose from suiting your risk appetite and investment
objective.
Eligibility:
Entry Age Primary Life Secondary Life
Min: 18 yrs Max: 60 yrs Min: 3* yrs Max: 60 yrs
Maturity Age Primary Life Secondary Life
Min: 28 yrs Max: 75 yrs Min: 13 yrs Max: 75 yrs
Policy Term 10 or 15 years
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Premium Payment
Options
Single Premium
Single Premium Min - Rs. 30,000 / Max - No limit
Life Cover 1st Death :
1.25 times of the Single Premium paid
2nd Death:
10 times of the Single Premium
* For age 3 to 7 years, underwriting screening will apply.
[02] Kotak Assured Income Plan
Guaranteed second income for 20 years
Enjoy a constant stream of payouts from the 11th policy year onwards, for a total of 20 years.
Additional lump sum benefit
In addition to guaranteeing you a regular stream of income for 20 years, Kotak Assured Income
Plan provides you a lump sum cash payout equal to 110% to 104% of the life cover amount
(basic sum assured) on maturity depending upon life assureds’ age. Now, the long-awaited
family vacation or the new home you’ve always wanted to own might just become a reality.
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Protection for your family even beyond the premium payment term
While you pay your premiums for 15 years, you will receive a life cover for 30 years, ensuring
your family stays protected for a longer time.
Additional protection
Enhance your protection with these rider plans:
Rider Plan Benefits Ppayable
Kotak Accidental Death Benefit
(ADB)
Lump sum benefit payable in the event of accidental death
Kotak Permanent Disability Benefit
(PDB)
Payout in installments upon a disability claim
Kotak Life Guardian Benefit (LGB) Waiver of premiums upon death and all future premiums to
be paid by Kotak Life Insurance
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Kotak Accidental Disability
Guardian Benefit (ADGB)
Waiver of premiums upon disability and all future
premiums to be paid by Kotak Life Insurance
Additional premiums apply with these rider plans. Contact a Kotak Life Advisor for more.
*Guarantee is applicable provided all premiums have been paid and the policy is in force
Eligibility:
Entry Age 0 to 60 years
Maturity Age Minimum: 30 years
Maximum: 90 years
Policy Term 30 years
Premium Payment Term 15 years
Premium Payment Mode Annual / Half-yearly / Quarterly / Monthly
Premium Minimum amount
Annual : Rs. 10,000
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Maximum amount
Subject to underwritings
Premium Payment Premium mode Premium modal factor
Annual 100%
Half-yearly 51%
Quarterly 26%
Monthly 8.8%
Premium payment = Premium mode x Premium modal factor
General Exclusions
In the event of the life insured committing suicide within one year of the date of issue of the
policy, no benefit will be paid. In case of suicide within one year of the date of revival of the
policy, the basic sum assured will not be payable and only Guaranteed Surrender Value as on
date of claim event will be payable
[03] Kotak Platinum
Choice of funds that best suited your needs
You can choose to spread your investment across a range of 8 fund options ranging from
cautious to aggressive funds.
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This way you get an exhaustive list of options to diversify your wealth and you don’t need to
look for any other investment avenue.
Need to switch to a plan with lower risk or one that brings higher returns? Don’t worry, as you’ll
have 12 free switches in a policy year for greater control over your investment.
Minimum charges, maximum earnings
With Kotak Platinum’s low charges, we ensure that 95% to 98.5% of your premium payment
goes straight to the investment you have picked, to maximise your returns.
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Keep earning with additional loyalty bonuses
On top of the earnings your investment brings, be rewarded with extra bonus at the end of 10th
policy year and every 5 years thereafter.Thus, the longer you stay with us, the more you get out
of your investment.
Flexible payment period
If a longer payment period doesn’t suit your needs, you can always opt for a shorter one. Choose
either a:
5-year premium payment period for a policy term of 10 years, or
10-year premium payment period for policy terms of 15 to 30 years
What’s more, you also have the option to pay annually, half-yearly, quarterly or monthly –
giving you even greater flexibility in the way you invest.
Other advantages
Option for partial withdrawals and policy loan
Flexibility to receive maturity benefit via lump sum payment or in installments
Life insurance cover that safeguards your family’s well-being
Eligibility:
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Entry Age 0 to 65 years
Maturity Age 18 to 75 years
Policy Term 10 to 30 years
The minimum policy term for minors is 10 or 18 years minus age last birthday
of the life insured on the date of commencement, whichever is greater.
Premium
Payment Mode
Annual/half-yearly/quarterly/monthly
Premium
Payment Term
Regular
Payment applies throughout policy term.
Limited
5-year payment with policy term of 10 years 10-year payment with policy term
of 15 – 30 yeaRs
Premium Minimum
Annual: Rs 99,000
Half-yearly: Rs 49,500
Quarterly: Rs 24,750
Monthly: Rs 8,250
Max : No Limit
Basic Sum
Assured
Minimum sum assured
Entry age of below 45
Min : Higher of 10 x annualised premium
OR
0.5 x policy term x annualised premium
Entry age of 45 and above Higher of 7 x annualised premium
OR
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0.25 x policy term x annualised premium
Maximum sum assured is 25 x annualised premium.
Top-Up
Premium
Minimum payment
Rs 10,000
Maximum payment
10 x annualised premium (aggregate of all Top-Up premiums)
Top-Up Sum
Assured
Top-Up at ages below 45 years
Top-Up Sum Assured : 1.25 x Top-Up premium.
Top-Up at ages 45 years and above
Top-Up Sum Assured : 1.10 x Top-Up premium.
General Exclusions
In case the life insured commits suicide within one year of date of issue of the policy, the
beneficiary will receive the Fund Value in the Main and the Top-Up Account.
[04] Kotak Single Invest Advantage
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One-time payment, a lifetime of benefits
Kotak Life Insurance enables you to make the most of your cash surplus in this one-time
investment plan. So now you can gain the benefits of a long-term savings plan, without being
tied down financially by regular premium payments. What’s more, you’ll have added life
insurance coverage while you sit back and earn.
Get rewarded for staying invested for a longer time
Unit-linked insurance plans (ULIP) plans work best when they are taken with a long-term view
in mind. And to top it all we reward you for staying invested with Kotak Life Insurance for a
longer tenure by providing loyalty additions in your Fund Value. Receive an additional bonus
right after your 10th policy year and once again at the end of the 15th policy year. This way you
will be benefited for the healthy investment behavior of staying invested for a longer duration.
You will be receiving the loyalty additions as follows:
Annual Premium
Payment
Loyalty Addition (% of Average Fund Value in Main Account in
the Preceding 3 Years)
Rs 50,000 to 199,999 2.25%
Rs 2,00,000 & above 3.00%
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A truly customised fund portfolio for your needs
Whether you manage your portfolio actively or leave things to our investment experts, we offer
you a choice of six funds ranging from safe-low return funds to high-returns options though with
potentially higher risks. Divide your money between these funds in whichever way you like or
switch your money from one fund to another, giving you extreme flexibility of investment.
Find the most suitable fund(s) available with this single premium policy by using the risk-returns
table right below or contact a Kotak Life Advisor to find out more.
One good way to protect the well-being of your loved ones
This single premium policy comes with a comprehensive life cover. This ensures that in the case
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of an unfortunate demise of the life insured, the family is well provided for and will not need to
suffer financially.
Eligibility:
Entry Age* 3 to 65 years
Maturity Age 18 to 75 years
Policy Term Option of 10 or 15 years
Premium Payment Mode Single premium payment
Premium Payment Amount Single premiumMinimum paymentRs 30,000
Maximum paymentNo limit
Top-up premium Minimum paymentRs 10,000
Maximum payment5 x Single premium (aggregate of all top-ups)
Basic Sum Assured Option 1Basic sum assured = 5 x Single premium
Option 2Basic sum assured = 1.25 x Single premium
Top-Up Sum Assured Top-up at ages below 45 yearsTop-Up Sum Assured: 1.25 x Top-Up premium.
Top-up at ages 45 years and aboveTop-Up Sum Assured: of 1.10 x Top-Up premium.
General Exclusions
In case the life insured commits suicide within one year of date of issue of the policy, the
beneficiary will receive the Fund Value in the Main and the Top-Up Account.
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In case the life insured commits suicide within one year of date of payment of Top-Up
Premium, the Top-Up Sum Assured is not payable and only the Fund Value in the Top-Up
Accounts is payable.
[05] Kotak Ace Investment Plan
Choose from 8 fund options in this unit-linked insurance plan
Many investment options offer just one avenue where you can invest your money in. It could be
an aggressive fund purely based on equity market or a safe bond fund with lower returns. But a
single avenue is never enough to get the most out of your investments. Hence, we offer you a
choice of eight different funds based on your investment preferences.
So whether you manage your portfolio actively or leave things to our investment experts, you’ll
find a suitable fund from our range of funds catering to different risk profiles.
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Switch between funds when you need
We understand that even after you’ve picked the most suitable investment to start on, economic
fluctuations can occur during the policy period. There are times when equity markets are in
upswing and can offer you very good returns for your money, as well as periods where you need
to park your money in lower-risk investment options such as bonds. That’s exactly the reason
why we give you the option to switch between funds - to get the best out of your money.
An insurance policy that provides easy access to investment
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Need cash for an unexpected life event? Kotak Ace Investment Plan lets you:
Make partial withdrawals after the 5th policy year
Loan up to 40% of the Fund Value in your Main and Top-Up Account after 2 years of
premium payment
Receive the full Fund Value in a lump sum or periodic payouts after maturity. Thus, in the
event of financial contingencies, your money is easily accessible and not locked away in a
savings plan.
Protection for your loved ones
Kotak Ace Investment Plan comes with a comprehensive life insurance cover, which ensures that
an unfortunate death of the life insured does not put your family in a financial distress.
Flexible premium payment period
If a longer payment period doesn’t suit your needs, opt for a shorter one. Choose either a:
5-year premium payment period for a policy term of 10 years, or
10-year premium payment period for policy terms of 15, 20, 25 and 30 years
What’s more, you also have the option to pay annually, half-yearly, quarterly or monthly –
giving you additional flexibility.
Other advantages
Invest surplus funds as top-up premiums
Enhance protection with optional rider plans
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Additional protectionEnhance your protection with these rider plans:
Rider Plan Benefits Payable
Kotak Term Benefit(KTB) / Kotak
Preferred Term Benefit (KPTB)
Lump sum benefit payable in the event of death
Kotak Critical Illness Benefit (CIB) Lump sum benefit payable upon admission of a critical
illness claim
Kotak Accidental Death Benefit Lump sum benefit paid upon accidental death
Kotak Permanent Disability Benefit Payout in installments upon a disability claim
Kotak Life Guardian Benefit Waiver of premiums upon death and all future
premiums to be paid by Kotak Life Insurance
Kotak Accidental Disability Guardian
Benefit
Waiver of premiums upon disability and all future
premiums to be paid by Kotak Life Insurance
Eligibility:
Entry Age* 0 to 65 years
Maturity Age 18 to 75 years
Policy Term Option of 10/15/20/25/30 years
Premium Payment Annual/half-yearly/quarterly/monthly
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Mode
Premium Payment Term
RegularPayment applies throughout policy term
Limited5-year payment with policy term of 10 years 10-years payment with policy term of 15/20/25/30 years
Minimum payment
Premium Amount Regular Premium:Annual: Rs 30,000 Half-yearly: Rs 18,000Quarterly: Rs 9,000Monthly: Rs 3,000
Limited Premium Amount:Annual: Rs 50,000 Half-yearly: Rs 30,000Quarterly: Rs 15,000Monthly: Rs 5,000
Max: No Limit
Basic Sum Assured Minimum sum assured Entry age of below 45
Higher of 10 x annual premium OR 0.5 x policy term x annual premium
Entry age of 45 and above
Higher of 7 x annual premium OR 0.25 x policy term x annual premium
Maximum sum assured is 25 x annual premium.
Top-Up Premium Minimum paymentRs 10,000
Maximum payment 10 x annual premium (aggregate of all Top-Up
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premiums)
Top-Up Sum Assured
Top-up at ages below 45 yearsTop-Up Sum Assured: 1.25 x Top-Up premium.
Top-up at ages 45 years and above Top-Up Sum Assured: 1.10 x Top-Up premium.
General Exclusions
In case the life insured commits suicide within one year of date of issue of the policy, the
beneficiary will receive the Fund Value in the Main and the Top-Up Account.
In case the life insured commits suicide within one year of date of payment of Top-Up
Premium, the Top-Up Sum assured is not payable and only the Fund Value in the Top-Up
Accounts is payable.
[06] Kotak Wealth Insurance
Accumulate wealth through a disciplined investment approach
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At maturity, you will receive a corpus of money accumulated through returns earned via
investing in the funds of your choice. All the funds offered under this unit-linked insurance plan
are managed by our well qualified and experienced experts. You might use this corpus to take
care of a large expense like buying a car or a marriage.
Secure the well-being of your family through triple protection
In the unfortunate event of death (where the policyholder and the life assured are the same),
Kotak Life Insurance helps lessen the financial burden your family might face by providing the
benefit of triple protection as follows:
Your beneficiary is paid 100% of the basic sum assured immediately to compensate for
immediate loss of income.
Fund Value in Main Account Plus
Lump Sum Benefit
In this way your family gets an immediate financial relief and they don't feel financially
insecure.
Customised fund portfolio for your risk-returns profile
Under this investment plan, you can invest your money in a variety of fund options suited for all
types of investors, ranging from cautious to aggressive. What’s more, you can divide your
money between different funds or even switch from one fund to another for added investment
flexibility.
Whether you manage your portfolio actively or leave things to our investment experts, you’ll
find a suitable fund from our range of funds catering to different risk profiles.
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Easy access to investment
Need cash for an unexpected life event? Kotak Wealth Insurance allows you to:
Make partial withdrawals after the 5th policy year.
Loan up to 40% of the Fund Value in your main and Top-Up account after 2 years of
premium payment.
Option of shorter term payment
If a longer payment period doesn’t suit your needs, you can always opt for a shorter one. Enjoy
all the benefits of a 10-year plan and have the convenience of a 5-year premium payment period.
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Other advantages
Switch between funds for better flexibility.
Invest surplus capital in this investment plan as Top-Up Premiums.
Additional protection
You may also enhance protection for your family with these rider plans:
Rider Plan Benefits Payable
Kotak Critical Illness Benefit
(CIB)
Lump sum benefit payable upon a critical illness declaration
Kotak Accidental Death Benefit Lump sum benefit paid upon accidental death
Kotak Accidental Disability
Guardian Benefit
Waiver of premiums upon disability and all future premiums
to be paid by Kotak Life Insurance
Additional premiums apply with these rider plans contact a Kotak Life Advisor to find out more.
Eligibility:
Entry Age Life Assured: 0 to 65 yearsPolicyholder: 18 to 65 years
Maximum Maturity Age
75 years
Policy Term Option of 10/15/20/25/30 years
Premium Payment Annual
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Mode
Premium Payment Term
RegularPayment applies throughout policy term
Limited5 years payment with policy term of 10 years
Premium Amount Regular Premium: Rs .20,000/-Limited Premium: Rs. 50,000/-
Basic Sum Assured Minimum sum assured
Entry age of below 45 Higher of10 x annual premiumOR0.5 x policy term x annual premium
Entry age of 45 and above
Higher of7 x annual premiumOR0.25 x policy term x annual premium
Maximum sum assured is 25 x annual premium.
Top-Up Premium Minimum paymentRs 10,000
Maximum payment10 x annual premium (aggregate of all Top-Up premiums)
Top-Up Sum Assured Top-Up at ages below 45 yearsAssured Top-Up sum of 1.25 x Top-Up premium.Top-Up at ages 45 years and aboveAssured Top-Up sum of 1.10 x Top-Up premium.
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General Exclusion
In case the life insured commits suicide within one year of date of issue of the policy, the
beneficiary would receive the Fund Value in the Main and the Top-Up Accounts. In case the life
insured commits suicide within one year of date of payment of Top-Up Premium, the Top-Up
Sum Assured is not payable and only the Fund Value in the Top-Up Accounts is payable.
[07] Kotak Endowment Plan
Save and earn more
Not only can Kotak Endowment Plan help you in the objective of long-term savings, you’ll also
get to accumulate bonus earnings on the premiums paid by you. This ensures while you work
hard to earn a living, your money works equally hard in earning returns.
Dual benefits of life insurance and investment
You can have the best of both worlds with this savings plan. It provides you life insurance
coverage to secure your family from an unfortunate demise of the life insured. At the same time,
it ensures that you get your premiums back along with returns upon plan maturity.
Flexible payment period
Since future cash flows can be uncertain, you can always opt to complete your premium
payments over smaller durations such as 3, 5, 7, 10 or 15 years – yet enjoy the full plan benefits
for the entire policy term. Hence, this savings plan can be really flexible depending on your
needs.
Additional protection
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Enhance your protection with these rider plans:
Rider Plan Benefits Payable
Kotak Critical Illness Benefit (CIB) Lump sum benefit payable upon admission of a critical
illness claim
Kotak Accidental Death Benefit Lump sum benefit paid upon accidental death
Kotak Permanent Disability Benefit Payout in installments upon a disability claim
Kotak Life Guardian Benefit Waiver of premiums upon death and all future
premiums to be paid by Kotak Life Insurance
Kotak Term Benefit(KTB) / Kotak
Preferred Term Benefit (KPTB)
Lump sum benefit payable in the event of death
Kotak Accidental Disability
Guardian Benefit
Waiver of the insurance plan premiums upon disability
and all future premiums to be paid by Kotak Life
Insurance
Additional premiums apply with these rider plans. Please contact a Kotak Life Advisor to find
out more.
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Eligibility:
Entry Age 18 to 65 years
Maturity Age Maximum 75 years
Policy Term 10 to 30 years
Premium Payment Mode Annual /half-yearly/quarterly/monthly
Premium Payment Term Regular
Payment applies throughout policy term
Minimum payment
Yearly: Rs 4000
Half-yearly: Rs 2055
Quarterly: Rs 1060
Monthly: Rs 350
General Exclusion
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In case the life insured commits suicide during the first year of the plan, the beneficiary will not
receive any of the benefits outlined in this plan.
[08] Kotak Money Back Plan
Receive payouts once every 5 years
This life insurance plan gives you a lump sum payout once every 5 years and enables you to take
care of your planned as well as unexpected financial situations.
Earn bonuses with this money back plan
Bonus may be declared by the company at the end of each financial year and is added to your
account, hence ensuring that the premiums deposited by you earn satisfactory returns.
Guaranteed* addition upon maturity
Regardless of your policy term, earn guaranteed additions at the end of 15th, 20th and 25th year
provided policy is in force.
Plan Period Guaranteed Addition
15 years 20% of sum assured at the end of 15 years
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20 years 30% of sum assured at the end of 20 years
25 years 40% of sum assured at the end of 30 years
Life insurance benefits that keep increasing
With the rising standard of living and inflation rates, it is important that your life cover also
increases accordingly to provide your family with adequate financial protection should anything
untoward happen to you.
*provided policy is in force
Eligibility:
Entry Age 18 to 60 years
Maturity Age Maximum
75 years
Policy Term Option of 15/20/25 years
Premium Payment Mode Annual/half-yearly/quarterly/monthly
Premium Payment Term Minimum payment excluding policy fee
Annual: Rs 4,000
Half-yearly: Rs 2,055
Quarterly: Rs 1,060
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Monthly: Rs 340
General Exclusion
In case the life insured commits suicide within one year of the commencement of the plan, no
benefits outlined in the plan would be payable.
[09] Kotak Premium Return Plan
Return of premiums upon maturity
Upon plan maturity, you'll be guaranteed (Provided policy is in force) the full return of your
investment - that is, the premium payments made throughout the policy term. This amount could
be even higher depending on the policy term you've chosen.
Twin benefits of risk cover and savings
Protect your family from the threat of loss of income due to an untimely death as well as fulfill
your financial goals through a disciplined savings approach in this plan. These twin benefits
offer you a comprehensive all-round protection.
Hassle-free sign-up and plan management
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All it takes is a simple application procedure, with no medical tests plus the convenience of
automatic premium debit. The Kotak Premium Return Plan is certainly a life insurance plan that
requires little management.
Eligibility:
Entry Age 18 to 50 years
Maturity Age 28 to 70 years
Policy Term Fixed terms of 10, 15 and 20 for benefit levels of 100%, 111% and
125% respectively
Premium Payment
Mode
Annual/half-yearly/quarterly/monthly
Annual Premium
Payment
Minimum payment
10/15-year term: Rs 5882
20-year term: Rs 8824
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General Exclusion
In case the life insured commits suicide one year within the issue of the plan, no benefits outlined
in the plan would be payable.
[10] Kotak Surakshit Jeevan
Enjoy bonus payouts from time to time
Bonuses are added to your savings amount accumulated through the premiums paid in this
savings plan. These bonuses help you earn returns on the value of your savings and accumulate a
substantial corpus.
Boosted Cover
With increased responsibility comes a greater need for enhanced protection for your family. With
this life insurance plan, you'll have boosted your life insurance protection from the 5th policy
year onwards without additional premium payment – ensuring your family is properly covered
should anything untoward happen.
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Saving with regular investment
Kotak Surakshit Jeevan helps you set aside a corpus via a disciplined savings plan – so you can
achieve your financial goals with ease. Whether you're saving up for your child university
education or a dream property, Kotak Life Insurance plans can help you get what you want more
easily.
Flexible premium payment options
This life insurance policy gives you the freedom to choose the premium payment period that best
suits your needs whether it's an annual, half-yearly, quarterly or monthly option.
Flexibility to meet diverse requirements
Surakshit Jeevan gives you the flexibility to utilise your accumulated kitty on maturity in any of
the following three different ways:
To meet contingency fund requirements, by receiving the entire proceeds as a single
lump sum
To help fulfil your kids' dreams, : To meet the continuous fund requirements of your
child's education and career, you can opt for half-yearly installments over a five-year
period. The guaranteed amount of each half-yearly installment would be Rs.108 per
thousand maturity benefit
To support a comfortable retirement, by withdrawing the cash component of 1/3 of the
maturity proceeds, then using the balance to purchase an annuity from Kotak Life Insurance
or any other insurer.
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Additional protection
Want extra protection? Enhance your protection with these rider plans:
Riders Benefits payable
Kotak Permanent
Disability Benefit
Payout in installments upon a disability claim
Kotak Life Guardian
Benefit
Waiver of premiums upon death and all future premiums to be
paid by Kotak Life Insurance
Eligibility:
Entry age 0 – 60 years
Maturity age 18 – 70 years
Policy term 10 – 25 years
For minors, the minimum policy term will be greater of 10 years or (18
years minus age at entry as on the last birthday.
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Premium
payment mode
Annual/Half-yearly/Quarterly/Monthly
Annual premium
payment
Minimum payment
Annual: Rs. 3,500
Maximum payment
Annual: Rs. 35,000
General Exclusion
In the event of the Life Insured committing suicide within one year of the date of issue of
the life insurance policy, no benefits are payable.
In case of suicide within one year of the date of revival of the policy, the Surrender Value as
on date of claim event will be payable.
[11] Kotak Invest Maxima
Zero premium allocation charge
Kotak Invest Maxima has no premium allocation charge, thus ensuring that most of your money
is invested in the funds chosen by you and returns are enjoyed over a larger portion of your
premiums.
Choice of portfolio strategies
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Kotak Invest Maxima offers you two portfolio strategies to optimise your investments:
1. Self Managed Portfolio Strategy offers you the flexibility to invest in any of the five fund
options we provide you. These fund options vary from aggressive to cautious and hence are
suitable for all kinds of investors.
2. Systematic Switching Strategy (SSS)1 allows you to participate in the volatile equity markets
in a systematic & and structured manner. It enables you to invest in Money Market Fund and
transfer a pre-defined amount every month into any one of the following funds:
Classic Opportunities Fund
Frontline Equity Fund
You have the option to choose Systematic Exit Strategy (SES)2, wherein during the last policy
year, you will have the choice to switch out of the selected fund, i.e. you can move the amount
accumulated in either Classic Opportunities Fund or Frontline Equity Fund to the Money
Market Fund systematically over a 12-month period, in a similar manner as SSS1 & 2 Kindly
refer to the product brochure for the details of these strategies.
Through these strategies, you will have ample flexibility in the way you invest your money.
Get rewarded for staying invested longer
To reward long-term savings the plan will add survival units every 5 years starting from the end
of 10th policy year (subject to policy being in force i.e. not in the discontinued state).
Annualized / Single Premium Rs. 50,000 to Rs.
74,999
Rs. 75,000 & Above
Survival Units^ (as % of Fund Value) 1% 2%
^ Average of the Fund Value on the relevant date and the two preceding year ends.
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Choice of convenient policy term and premium payment term
You have the flexibility to opt for policy terms and premium payment terms as per your
convenience. For Single Premium Payment option the policy term is fixed 10 years whereas for
Regular and Limited Premium Payment terms you can choose from the fixed policy terms of 10,
15, 20, 25 and 30 years.
Liquidity through loans and partial withdrawals
You can access your investment after completion of the 5th policy year by way of partial
withdrawals. Further, you can avail of a policy loan up to 40% of the Fund Value in Main
Account and Top-Up Accounts to meet any contingency, after two years’ premiums have been
paid for regular and limited premium payment terms. For Single premium payment option, loans
shall be granted against the policy anytime after the first policy year.
Enhanced protection through riders
To ensure that your family has adequate financial cushion against the uncertainties of life like
accident and permanent disability, you can opt for additional riders with this plan. These riders
come with additional premium and you can read the details in the rider brochure.
Eligibility:
Entry Age# Min: 0 years*, Max : 65 years
Maturity Age# Min: 10 years , Max : 75 years
Policy Term Regular Premium: 10, 15, 20, 25 & 30 yrsLimited Premium: 10, 15, 20, 25 & 30 yrsSingle Premium: 10 yrs
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Premium Payment Term
Regular: Same as Policy Term chosenLimited: 5 years
Premium Payment Mode
Annual & Single
Premium Regular - Rs. 50,000 - Rs. 1,00,000Limited - Rs. 75,000 - Rs. 1,00,000Single - Rs. 1,00,000 - Rs. 2,50,000
Basic Sum Assured
Regular and Limited Premium:Min SA: Age < 45 yrs: Higher of (10 X AP) or (0.5 X Policy Term X AP) Age >= 45 yrs: Higher of (7 X AP) or (0.25 X Policy Term X AP)Max SA: 25 x AP
Single Premium:Option I : 5 times SPOption II : 1.25 times SP
AP: Annualised PremiumSP: Single Premium
Top-Up Premium
Min: Rs. 20,000Max: For Regular & Limited Premium: 10 x APFor Single Premium: 5 x SP(aggregate for all Top-up Premiums during the policy term)
Top-Up Sum Assured
Age at the time of Top-Up less than 45 yrs: 1.25 X Top-Up PremiumAge at the time of Top-Up is 45 yrs and above: 1.10 X Top-Up Premium
# Ages above will be as at the last birthday* For age 0 to 7 years, underwriting screening will apply.
General Exclusion
In the event of the Life Insured committing suicide within one year of the date of issue of the
policy, the Basic Sum Assured and Top-Up Sum Assured are not payable and only the Fund
Value in the Main Account and Top-Up Accounts are payable.
[12] Kotak Gramin Bima Yojana
Brochure
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