| This plan is
a sure and secure insurance option without the
hassles or worries of a conventional insurance
plan. With minimal paperwork and procedures, you
get the dual benefit of a risk cover and savings.
At the end of the term, a minimum of the premiums
paid by you will be returned depending on the
option you choose. In other words, this is a term
plan that makes financial sense by offering maturity
benefits as well..
The Kotak Premium Return Plan
is ideal for you ……….
- If you do not have a life insurance cover
or are underinsured and would like to protect
your family in the eventuality of you not being
around yet receive all your premiums back on
maturity
- If you would like to cover your life without
any elaborate paper-work and medical tests and
with premiums being automatically deducted from
your account
Key Features
Return of premiums
This is a non-participating plan that covers you
throughout the term and on maturity returns all
the premiums paid by you. The amount of premium
returned will depend on term of the plan and the
premium chosen by you.
Hassle-free
With a simple application procedure, no medical
tests and automatic debit of premiums: you can
have an insurance plan without any worries.
Death Benefit
The beneficiary will receive the death benefit
(Sum assured less premium unpaid during the year
of death) in case of the unfortunate death of
the life insured.
Maturity Benefit
On maturity, the premiums paid by you will be
returned. The amount payable to you on maturity
will depend on the term of the policy chosen by
you.
The table below shows you the Maturity and Death
Benefit for different premium* and term options
| Premium Payment
Mode |
Term
|
10 years |
15 years |
20 years |
| % of premiums returned on
maturity |
100% |
111% |
125% |
| MONTHLY |
Premium (Rs.) |
500 |
750 |
1000 |
1500 |
500 |
750 |
1000 |
750 |
1000 |
| Maturity Benefit (Rs.) |
60,000 |
90,000 |
120,000 |
180,000 |
100,000 |
150,000 |
200,000 |
225,000 |
300,000 |
| QUARTERLY |
Premium (Rs.) |
1,549 |
2,314 |
3,079 |
4,608 |
1,549 |
2,314 |
3,079 |
2,314 |
3,079 |
| Maturity Benefit (Rs.) |
61,176 |
91,765 |
122,353 |
183,529 |
101,859 |
152,788 |
203,718 |
229,412 |
305,882 |
| HALF-YEARLY |
Premium (Rs.) |
3,015 |
4,515 |
6,015 |
9,015 |
3,015 |
4,515 |
6,015 |
4,515 |
6,015 |
| Maturity Benefit (Rs.) |
60,000 |
90,000 |
120,000 |
180,000 |
99,900 |
149,850 |
199,800 |
225,000 |
300,000 |
| ANNUALLY |
Premium (Rs.) |
5,882 |
8,824 |
11,765 |
17,647 |
5,882 |
8,824 |
11,765 |
8,824 |
11,765 |
| Maturity Benefit (Rs.) |
58,824 |
88,235 |
117,647 |
176,471 |
97,941 |
146,912 |
195,882 |
220,588 |
294,118 |
Age |
Death Benefit(Rs.)
|
| 18
- 30 |
290,000 |
500,000 |
700,000 |
1,050,000 |
410,000 |
660,000 |
920,000 |
730,000 |
1,000,000 |
| 31
-35 |
230,000 |
400,000 |
560,000 |
840,000 |
310,000 |
500,000 |
700,000 |
530,000 |
730,000 |
| 36
- 40 |
170,000 |
290,000 |
410,000 |
610,000 |
230,000 |
360,000 |
500,000 |
390,000 |
530,000 |
| 41
- 45 |
130,000 |
210,000 |
290,000 |
430,000 |
160,000 |
260,000 |
360,000 |
290,000 |
400,000 |
| 46
-50 |
90,000 |
150,000 |
200,000 |
300,000 |
120,000 |
190,000 |
260,000 |
220,000 |
300,000 |
* Premiums are excluding
service tax.
Advantages
- Twin benefit of risk cover and savings
- Affordable premiums
- Hassle free premium payments
- No medical examinations
Tax Benefit
Section 80C, 10(10D) of Income Tax Act,
1961 would apply. You are advised to consult your
tax advisor for details.
Eligibility:
| Entry Age |
Minimum age - 18 years
Maximum age - 50 years |
 |
| Term |
10, 15 or 20 years |
|
| Maturity Age |
| MAX |
60 years
for Term 10 years , |
| |
65 years
for Term 15 years, |
| |
70 years
for Term 20 years . |
|
|
"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.
"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.: KTPP01
|
