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It is a unique plan that blends savings and protection. It is a limited pay plan that provides lump sum payouts at regular intervals to meet your interim financial requirements.
Kotak Premier Moneyback Plan
A Savings cum Insurance Plan
Protect your today to secure your tomorrow. We aspire to offer our loved ones everything that they dream for, as much as we wish to secure them. Be it in their professional lives or personal lives, their happiness and protection is our ultimate aim. That is why Kotak Life Insurance offers Kotak Premier Moneyback Plan, a unique plan that blends savings and protection. It is a limited pay plan that provides lump sum payouts at regular intervals to meet your interim financial requirements and let you offer the best to your family.
How it works
30 year old Varun Verma chooses a Basic Sum Assured of 5 lakhs with a policy term of 20 years and premium payment term of 10 years which are his prime working years
He gets regular cash backs as percentage of the Basic Sum Assured (BSA) at equal intervals depending on the policy term chosen allowing him to care for his family at prime life stages
In his first interval of 5 years (at the age of 35 years), his Cumulated Annualized Premium stands at Rs. 2,93,375/-* and 1st Survival Benefit is Rs. 1,00,000/-**
* The 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. **Subject to policy being in force.
And so on for every 5-year interval as per the relevant rates
He gets the balance Sum Assured at maturity. The Maturity Benefit at age 50 years will be Rs. 8,12,000 @8%# and Rs. 4,23,500 @4%#.
#The assumed non-guaranteed rates of return chosen in the illustration are 4% p.a. and 8% p.a. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back as the value of your policy is dependent on a number of factors including future investment performance. The actual experience may be different from the illustrated. The guaranteed and non-guaranteed benefits are applicable only if all due premiums are paid. Reversionary Bonus and Terminal Bonus have been calculated at the assumed non-guaranteed rates of return of 4% p.a. & 8% p.a.
Key features
Regular payouts at specific intervals throughout the terms
Get regular cash backs* as percentage of the Basic Sum Assured at equal intervals depending on the policy term chosen
Lump sum Maturity Addition
Along with the final payout at the end of the policy term, get a lump sum benefit depending on the policy term chosen
Enhanced death cover with additional payout on accidental death
In addition to the basic death benefit, on death due to accident get an assured additional sum
Earn bonuses from 1st year onwards
Bonuses may be declared on the plan from the end of 1st policy year onwards
Additional protection through optional riders
Choose from four rider options to increase the protection levels
Eligibility
Age criteria
Entry Age:
Minimum: 2 yrs
Maximum: 57 yrs for 16 yr term | 55 yrs for 20 yr term | 51 yrs for 24 yr term
Maximum Maturity Age
75 years
Policy Term
16 years | 20 years | 24 years
Sum Assured
Minimum: 1.5 lacs
Maximum: No Limit, subject to underwriting acceptance
Premium Levels
Minimum: Depends on Minimum Sum Assured
Maximum: Depends on Sum Assured levels
Premium Payment Term
Limited Pay
8 yrs for 16 yr term | 10 yrs for 20 yr term | 12 yrs for 24 yr term
Payment Mode
Yearly, Half yearly, Quarterly, Monthly
Premium Modal Factor
The following modal loadings will be used to calculate the instalment Premium
Yearly - 100% , Half yearly - 51% , Quarterly - 26% , Monthly - 8.8%
