Kotak Premier Life Plan

Kotak Premier Life Plan

A Non-Linked Participating Whole Life Plan

Life is all about enjoying the comforts and conveniences that you build for yourself. It also brings along the additional responsibility of securing your tomorrow and that of your family. Kotak Premier Life Plan is designed to protect your life right up to your 99thbirthday. It is a limited premium paying participating whole life plan, where you can choose to receive bonus payouts even after premium payment term expires. You can utilise these payouts to take care of your financial commitments, build a retirement corpus for a worry-free life or even create a legacy for your children and grandchildren to cherish.

How it works

Mr. Sharma decides to invest in the plan by selecting a Sum Assured on Maturity, Premium Payment Term and Premium Frequency as per his convenience.

He chooses the Bonus Option of "Paid-Up Additions" that allows him utilize the bonuses under the policy to purchase Paid-Up Additions and accumulate corpus.

He continues to pay the Premium for the specified duration

At the end of the Premium Payment Term; accrued Simple Reversionary Bonuses till then will be utilized to purchase "Paid-Up Additions"; thereafter at the end of each policy year, the Cash Bonus declared will get utilized to purchase further Paid-Up additions

Mr. Sharma will have the option of en-cashing from the "Paid-Up Additions" to meet interim financial needs

At the end of the policy term, Mr. Sharma will receive the following

Sum Assured on Maturity PLUS

Accrued Paid-Up Additions (if any) PLUS

Terminal Bonus

Key features

Participating whole life plan
With protection up to the age of 99 years

Simple revisionary bonus
Declared from 1st policy year till end of premium payment term and cash bonus after expiry of premium payment term

Receive bonus payouts
Or accumulate them under the policy

More value for money
Through discount in premium for high Sum Assured on maturity and female lives

Enhance protection
You can do this through a wide range of Riders

Enjoy tax benefit
as per applicable tax laws

Eligibility

Age criteria
Entry Age: Min. 3 years ,Max. 8 years PPT - 55 years | 12 years PPT - 53 years |15 years PPT - 50 years| 20 years PPT - 45 years
Maturity Age: 99 years

Premium Payment Term (PPT)
Fixed PPT of 8, 12, 15 and 20 years

Policy Term
99 years less entry age

Premium Payment Option
Minimum Premium - Determined on the basis of Sum Assured on maturity, entry age, gender and premium payment term
Maximum Premium - No limit, subject to underwriting

Minimum Sum Assured on maturity
Rs. 2,00,000/-

Premium Payment Mode
Yearly, Half yearly, Quarterly and Monthly

Modal Factor (% of annual premium)
The following modal loadings will be used to calculate the installment Premium - Yearly - 100%, Half yearly - 51%, Quarterly - 26%, Monthly - 8.8%