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Kotak SmartLife Plan
A Limited Pay Non-Linked Participating Life Insurance plan
You earn and work hard to accomplish your dreams and aspirations at every stage of life. In this journey, you will come across some unexpected financial commitments as well as planned ones like marriage; child education etc. During your golden years of retirement when income earning capacity reduces, it becomes even more difficult to fulfill these dreams and aspirations.
What if you have a support that will not only help you in fulfilling your dreams but will also take care of your near and dear ones in case you are not around...
To support you in this journey, Kotak Life proudly presents "Kotak SmartLife Plan", a limited pay participating endowment plan which will provide you option either to receive Cash bonus payouts every year right from the end of 1st policy year onwards to take care of interim financial requirements or utilize such Cash bonuses for accumulating and creating a corpus to fulfill bigger goals and plan for a stress-free life.
Key features
Offers Protection
Offers protection up to the age of 75 years
Convenience of choosing Bonus options
Convenience of choosing Bonus options: Cash Payout or Paid-Up Addition
Bonus Option
Avail chosen Bonus option from end of 1st policy year onwards
Additional Protection Rider
Additional protection through optional riders on payment of additional premium
Eligibility
Entry Age of Life Insured (as on last birthday)
Minimum:3 years
Maximum:50 years - 6 & 15 pay
55 years - 8& 10 pay
54 years - 12 pay
Maturity Age of Life Insured (as on last birthday)
75 years
Policy Term
75 years less Entry Age of Life Insured
Basic Sum Assured
Minimum: Rs. 2,50,000
Maximum: No limits, but it will be subject to Underwriting
Premium Levels
Minimum:
6 Pay : Rs. 40,120
8 Pay : Rs. 30,955
10 Pay : Rs. 26,175
12 Pay : Rs. 22,778
15 Pay : Rs. 19,505
Maximum:
No Limits, subject to Underwriting acceptance
Premium Payment Term
6, 8, 10, 12 and 15 years
Premium Payment Mode
Yearly, Half yearly, Quarterly, Monthly
Premium Modal Factor
Yearly - 100% , Half yearly - 51% , Quarterly - 26% , Monthly - 8.8%
