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Kotak Assured Savings Plan

A Non-Participating Endowment Assurance PlanTake confident steps towards your financial goals. Life insurance policies are more than just modes of protection. They can also play an active role in helping you reach your financial goals. The Kotak Assured Savings Plan enables you to accumulate wealth and strengthens your finances for the future. It not only offers you affordable protection but also helps accumulate enough wealth to help achieve your financial goals through guaranteed benefits.

Key Advantages

    • Guaranteed@ Maturity Benefit: Payable at maturity

      Get Basic Sum Assured PLUS Accrued Guaranteed@ Yearly Additions PLUS Enjoy Guaranteed@ Loyalty Addition

    • Get increasing life cover

      Enjoy Guaranteed@ Yearly Additions added every time you pay the premium – payable at maturity or death, whichever is earlier.

    • Enjoy higher benefits with longer premium commitment

      Get increased Guaranteed@ Yearly Additions and Guaranteed@ Loyalty Addition with increase in Premium Payment Term (PPT)

    • Get more value for money

      Through high premium benefit leading to higher Basic Sum Assured

    • Enhanced protection

      Through a wide range of Riders
      Note: Riders shall not be available for policies purchased through POS distribution channel.

    • Enjoy tax benefit

      as per applicable tax laws

Eligibility

    • Eligibility Entry Age (as on last birthday) Maximum Maturity Age (as on last birthday) Policy Term & Premium Payment Term (PPT)
      For All Channels (except POS) For POS Channel
      Min: 3 years Max: 60 years Min: 3 years Max: 65 years less Policy Term
      Min: 18 years Max: 75 years Min: 18 years Max: 65 years
      PPT
      Policy Term      		 5 Pay
      10 | 15 years      		 6 Pay
      12 | 18 years      		 7 Pay
      14 | 20 years      		 10 Pay
      15 | 20 years

    • Determined on the basis of minimum premium amount, entry age, policy term and PPT Example: For Rs. 20,000 annual premium, following shall be the Basic Sum Assured for entry ages 3 & 50 years:

      Minimum Basic Sum Assured
      Age Policy Term Premium Payment Term Basic Sum Assured (Rs.)
      3 years 15 years 5 years 1,36,780
      3 years 20 years 10 years 2,42,340
      50 years 15 years 10 years 1,45,488

      For details, please refer to the premium calculator on the website.

    • Maximum Basic Sum Assured Determined on the basis of minimum premium amount, entry age, policy term and PPT subject to UW Rules Rs. 25,00,000
    • Annualized Premium Premium Payment Mode Premium Payment Option Premium Modal Factor (% of annualized premium)
      Min: Rs. 20,000 Max: No limit, subject to underwriting Min: Rs. 20,000 Max: Rs. 1,50,000
      Yearly, Half-yearly, Quarterly, Monthly
      Limited only
      Yearly – 100% , Half yearly – 51% , Quarterly – 26% , Monthly – 8.8%

Additional Protection with Optional Riders

    • Kotak Term Benefit

      In case of death of the life insured, rider sum assured will be paid in addition to the death benefit under the base plan.

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    • Kotak Accidental Death Benefit Rider

      In case of death of the life insured due to accident, rider sum assured will be paid in addition to the death benefit under the base plan.

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    • Kotak Permanent Disability Benefit Rider

      In case of life insured being permanently disabled due to accident, benefit is paid in installments.

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    • Kotak Life Guardian Benefit

      In case of death of the policyholder (if different from Life Insured), outstanding premiums are waived and will be paid by Kotak Life Insurance.

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    • Kotak Accidental Disability Guardian Benefit

      In case of accidental disability, outstanding premiums are waived and will be paid by Kotak Life Insurance.

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    • Kotak Critical Illness Plus Benefit Rider

      Rider Sum Assured shall be paid in part or whole, in case the Life Insured is diagnosed with any of the 37 Critical Illnesses (subject to terms and conditions)

      Download

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