"What is Kotak Money Back Plan?"
The Kotak Money Back Plan not only covers your life, it also assures you a certain percent of the sum assured as cash payment at regular intervals of every 5 years. It is a savings plan with the added advantage of life cover and regular cash inflow. This plan is ideal for planning special moments like a wedding, your child's education or purchase of an asset etc. This is a participating plan (with profits).


"Who can avail of this Plan?"

How old do you have to be to avail of this plan?	Minimum age- 18 years Maximum age- 60 years
For what term can I avail of this plan?	15, 20 & 25 years
What is the maximum age that the plan can cover you till?	75 years

"What are the advantages of this plan?"

1. The plan not only covers your life but also provides you with a survival benefit payout every 5 years.
2. In the unfortunate event of death of life insured, the beneficiary would receive the death benefit. The death benefit keeps increases by 7% of the sum assured every year.
3. On maturity, you would receive the sum of the Survival Benefit, Bonus addition* and Guaranteed addition**.
   
   *Bonus addition is the amount in the Accumulation Account, in excess of the sum assured.
   Accumulation Account is your personal account in which the premiums that you pay are deposited, the return declared every year is added and the survival benefit payouts, risk and expense charges are deducted.
   **Guaranteed addition is the guaranteed amount payable on maturity,
   over and above the Survival Benefit.
   
4. The amount available in the Accumulation Account is invested in various financial instruments (as per IRDA regulations) so your money works hard for you.
5. The Automatic Cover Maintenance facility ensures the policy remains in force even if you miss premium payments. This facility is available after the first three years of the term.
6. You have the benefit of a 15-day free look period.
7. You have the option of paying premiums quarterly, half yearly or yearly.

"What value-adds can you opt for?"
You may avail of the following value-adds for a nominal premium at the time of taking the plan, subject to the aggregate premium on all value-adds not exceeding 30% of the basic Kotak Money Back Plan premium.

Term Benefit/ Preferred Term Benefit: In the event of death during the term of this benefit, the beneficiary would receive an additional death benefit amount, which is over and above the sum assured. The maximum Term Benefit you can avail of is equal to the basic sum assured. Where the term benefit cover applied for is more than Rs 10 lakhs, better rates may apply, subject to meeting eligibility requirements.

Accidental Death Benefit: This benefit provides an additional amount (over and above the sum assured) to the beneficiary in the event accidental death of the life insured. The maximum cover available under this benefit is equal to the basic sum assured (subject to a maximum of Rs.10 lakhs).

Permanent Disability Benefit: This benefit can be added to the basic life insurance plan to provide financial support in case of permanent disability due to an accident. The amount payable under this benefit would be paid out as an annuity. The maximum permanent disability benefit that you can avail of is equal to the basic sum assured (subject to a maximum of Rs.10 lakhs).

Survival Benefit	Payout for every Rs. 1000 Sum Assured
Payouts (in Rs.)
	5th year	10th year	15th year	20th year	25th year
15-year Plan
Survival Benefit	250	250	500
Guaranteed Addition	-	-	200*
20-year Plan
Survival Benefit	200	200	200	400
Guaranteed Addition	-	-	-	300*
25-year Plan
Survival Benefit	150	150	150	150	400
Guaranteed Addition	-	-	-	-	400*

"What happens in the event of death of the life insured?"
In the unfortunate event of the death during the term of the plan, the beneficiary would receive the death benefit. The death benefit increases by 7% of the sum assured each year. This increasing amount has been designed keeping in mind the rising inflation.

Death Benefit payout for every Rs. 1000 Sum Assured
Payouts (in Rs.)
Term	1st year	2nd year	3rd year	5th year	7th year	10th year	15th year	20th year	25th year
15 years	1000	1070	1140	1280	1420	1630	1980
20 years	1000	1070	1140	1280	1420	1630	1980	2330
25 years	1000	1070	1140	1280	1420	1630	1980	2330	2380

"How does this plan work?"
Mr. Sanjay Gupta, 30 years old, decides to buy a Kotak Money Back Plan for a sum assured of Rs.5,00,000 and for a term of 20 years.
His annual premium and the payouts are outlined below.

Annual Premium	Rs.34,124
Survival Benefit:
After 5 years	Rs.100,000
After 10 years	Rs.100,000
After 15 years	Rs.100,000
At the end of the 20 years
Balance Sum Assured	Rs.200,000
Guaranteed addition	Rs.150,000
Bonus Addition	Variable

i) What would Mr.Gupta receive on maturity of the plans?
Mr.Gupta would get cash flows in year 5, 10 and 15 as mentioned above. Assuming that the Accumulation Account grows at a rate of 6%, the payout on maturity would be Rs.510,900. At a growth rate of 10%, the maturity amount payable would be Rs.872,600. The table below shows the details of the payout.

	@6%	@10%
Balance Sum Assured	Rs.200,000	Rs.200,000
Guaranteed addition	Rs.150,000	Rs.150,000
Bonus Addition	Rs.160,900	Rs.522,000
Final payout at the end of 20 years	Rs.510,900	Rs.872,600

ii) What would Mr.Gupta receive on death of Mr.Gupta at the end of 11 th year?
On Mr.Gupta’s death, his family would receive a sum of Rs.850,000
In the past, Mr.Gupta has already received 2 installments of Rs.100,000 each as survival benefit payouts in the 5th and 10 year.

In the illustration, some benefits are guaranteed and some are variable. Guaranteed Returns are marked "guaranteed" in the illustration. Variable returns are shown at two different rates of assumed future returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back .The actual return may be different depending on a number of factors including future investment performance.

"What do you do next?"
To find out more about our plans, you can call us at any of our branch offices or e-mail us at lifeexpert@kotak.com.


"General exclusion"
In case the life insured commits suicide within 1 (one) year of the plan, no benefits outlined in the plan would be payable.

Exclusions for Accidental Death Benefit, Permanent Disability Benefit & Critical Illness Benefit:
The Accidental Death Benefit, Permanent Disability Benefit & Critical illness Benefit would not be paid out in the following circumstances:

1. Self inflicted injuries, suicide, insanity, immorality, committing any breach of law or being under the influence of drugs, liquor etc.
2. When the life insured is engaged in aviation or aeronautics other than as a passenger on a licensed commercial aircraft operating on a scheduled route.
3. Due to injuries from war (whether war is declared or not), invasion, hunting, other dangerous hobbies or activities, or having been on duty in military, para-military, security or police organization.

Additional Exclusions for Critical Illness:

1. Unreasonable failure to seek or follow medical advice.
2. Any pre-existing medical conditions not disclosed at inception.
3. Infection with Human Immunodeficiency Virus (HIV) or conditions due to acquired Immune Deficiency Syndrome (AIDS).

In addition, no benefit would be paid in respect of the exclusions specific to each critical illness.

No claim under the Kotak Life Guardian Benefit would be admitted if, within one year of the date of issue of this policy, the premium payer commits suicide, whether being sane or insane at the time of committing suicide.

1. The premium payer suffers from self-inflicted injuries, suicide, insanity, immorality, committing any breach of law or being under the influence of drugs, liquor etc.
2. Where the premium payer is engaged in aviation or aeronautics other than as a passenger on a licensed commercial aircraft operating on a scheduled route.
3. The premium payer suffers injuries from war (whether war is declared or not), invasion, hunting, mountaineering, motor racing of any kind, other dangerous hobbies or activities, or having been on duty in military, para-military, security or police organization.

"Prohibition of Rebates"
Section 41 of the Insurance Act, 1938 states: -
(1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.

(2) Any person making default in complying with the provision of this section shall be punishable with fine, which may extend to five hundred rupees.


Form no.: OMM01