Kotak POS Bachat Bima

Kotak POS Bachat Bima

A Non-Linked Non-Participating Life Insurance plan

Kotak Life Insurance presents a simple savings and protection oriented plan, which provides all guaranteed benefits while giving life insurance cover - Kotak POS Bachat Bima. The plan provides options for life insurance coverage to suit your needs along with providing guaranteed benefits. The plan is not only simple to understand but also will be easy to purchase.

How it works

Mr. Naidu, 30 years, decides to invest in 'Life' Plan Option with an Annual Premium* of Rs. 25,000 for a policy term of 20 years and a Basic Sum Assured of Rs. 3,48,728

At the end of 5 years, Total premiums paid will be Rs. 125,000 while accrued Guaranteed Yearly Additions will be Rs. 18,750

At the end of 10 years (i.e. end of PPT), Total premiums paid will be Rs. 250,000 while accrued Guaranteed Yearly Additions at the end of 10th year and 15th year would be Rs. 37,500 and Rs. 56,250 respectively

At the end of the policy term, Maturity Benefit payable will be equal to the sum of: [Basic Sum Assured (Rs. 3,48,728) PLUS accrued Guaranteed Yearly Additions (Rs. 75,000) PLUS Guaranteed Loyalty Addition (Rs. 43,750)] = Rs. 4,67,478

In case of an unfortunate event of Mr. Naidu's death during the term of the plan, his nominee would receive Sum Assured on Death + Accrued Guaranteed Yearly Additions (till the date of death)

* Above Premium figures are exclusive of Goods and Services Tax and Cess. Goods and Services Tax and Cess thereon, shall be charged as per the prevalent tax laws over and above the said premiums.

Key features

Plan options to choose from - Life & Life Plus

Double protection cover on accidental death with Life Plus option

@ Guaranteed Yearly Additions accruing throughout the policy term

@ Guaranteed Loyalty Addition payable on maturity

Limited premium payment terms of 8 & 10 years

Eligibility

Entry Age (last birthday)
Minimum: 12 years
Maximum: 45 years

Maturity Age (last birthday)
Minimum: 28 years
Maximum: 65 years

Policy Term (Fixed)
16 years / 20 years

Premium Levels
Minimum: Rs. 15,000 p.a.
Maximum: Based on maximum Basic Sum Assured capped at Rs. 10 lakhs subject to Underwriting acceptance

Premium Payment Term (PPT)
Limited: PPT Policy Term
8 years 16 years
10 years 20 years

Premium Payment Mode
Yearly, Half yearly, Quarterly, Monthly

Premium Modal Factor
Following modal factors will be used to calculate installment Premium:
Yearly - 100% , Half yearly - 51% , Quarterly - 26% , Monthly - 8.8%

Basic Sum Assured
Will be derived based on Premium, Age, Policy Term and Plan Option chosen.
Maximum Basic Sum Assured : Rs.10 Lacs per Life Insured