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| Home> For Individuals> Riders |
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| Overview |
| Every person has a different need and
we at Kotak Life Insurance recognize this. To give you the flexibility
to customize and enhance your cover, we offer a set of riders which
you may opt for along with your basic policy and shape your policy
to suit your individual needs. |
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|
 About
Riders |
| Riders
offered by Kotak Life Insurance
may be availed of at the time of
purchasing the plan, at a nominal
cost. |
| The
maximum amount of benefit you can
avail depends on the Basic Sum
Assured and the rider selected.
However, the aggregate premium
on all value-adds should not exceed
30% *of the basic premium. |
| * Except
for CIB rider in Kotak Term Plan & Kotak
Preferred Term Plan, where CIB
premium can be up to 100% of basic
premium. |
| Riders
Offered |
 Kotak
Term Benefit (KTB)/ Kotak Preferred
Term Benefit (KPTB) |
| In the
event of death of the Life Insured
during the term of this benefit,
the beneficiary would receive an
additional death benefit amount,
which is over and above the Basic
Sum Assured. |
| The
maximum amount of benefit that
is available is equal to the Basic
Sum Assured. |
| For
male non-smokers and females, who
want a term benefit cover of Rs.10
lakhs or more, Kotak Preferred
Term Benefit is recommended; subject
to eligibility conditions. |
 Kotak
Accidental Death Benefit (ADB) |
| If the
Life Insured dies of an accident
within 120 days from the date of
accident and the beneficiary proves
the same to the satisfaction of
the Company, then Kotak Accidental
Death benefit Sum Assured will
become payable. |
| The
maximum cover available under this
benefit is equal to the Basic Sum
Assured (subject to a maximum of
Rs.10 lakhs). |
 Kotak
Permanent Disability Benefit
(PDB) |
| If the
Life Insured becomes totally and
permanently disabled due to an
accident and the policyholder proves
the same to the satisfaction of
the Company, Kotak Permanent Disability
Benefit Sum Assured will be paid
as five annual installments of
12% of the Sum Assured, starting
on the date that disability is
admitted by the Company, followed
by a final payment at the end of
the fifth year of 60% of the Sum
Assured. The life insured should
survive for at least 120 days from
the date of the accident. The policyholder
should write to the Company giving
the details of Permanent and Total
disability in the required format,
within 150 days after the happening
of the disability. Permanent Disability
is defined as permanent and immediate
inability to work or permanent
loss of use of any two limbs or
total and permanent loss of sight
or injuries that permanently preclude
following an appropriate occupation
from the date of accident onwards. |
| The
maximum cover available under this
benefit is equal to the Basic Sum
Assured (subject to a maximum of
Rs 10 lakhs). |
 Kotak
Critical Illness benefit (CIB) |
| This
benefit can be added to the basic
life insurance plan to provide
financial support in the event
of medical emergencies. On the
first occurrence of critical illness
during the term of the plan, you
would receive a portion of the
Sum Assured to help you reduce
your financial burden in this emergency. |
| The
maximum rider benefit that you
can avail depends on the basic
plan subject to a maximum of Rs.20
lakhs. |
| Maximum
Critical Illness benefit allowed |
| For
Kotak Capital Multiplier Plan and
Kotak Retirement Income Plan (With
Cover) the maximum Critical Illness
benefit that you can avail of is
equal to the Basic Sum Assured
(subject to a maximum of Rs 20
lakhs). |
| For
Kotak Headstart Assure Wealth,
Kotak Headstart Future Protect,
Kotak Eternal Life Classic Shield,
Kotak Eternal Life Premier Shield,
Kotak Long Life Secure Plus and
Kotak Long Life Wealth Plus, the
maximum Critical Illness benefit
that you can avail of is 75% of
the Basic Sum Assured (subject
to a maximum of Rs 20 lakhs). |
| For
Kotak Endowment Plan, Kotak Money
Back Plan, Kotak Term/Preferred
Term Plan, the maximum Critical
Illness benefit that you can avail
of is 50% of the Basic Sum Assured
(subject to a maximum of Rs 20
lakhs). |
| After
the Critical Illness benefit is
paid, the Basic Sum Assured and
all the benefits dependent on the
Basic Sum Assured will reduce in
the same proportion that the Critical
Illness benefit bears to the Basic
Sum Assured at the time of claim.
The list of critical illnesses
is: |
- Heart Attack (MI)
- Cancer
- Stroke
- Coronary
artery by-pass graft surgery
(CABG)
- Kidney failure
- Major
organ transplants
- Paralysis
- Loss
of limbs
- Aorta surgery
- Major
burns
- Heart valve surgery
- Blindness
|
 Kotak
Life Guardian Benefit (LGB) |
| In case
of the unfortunate death of the
policyholder, this benefit keeps
the policy alive by waiving all
future premiums on the policy.
This benefit can be availed of
only when the Life Insured and
Policyholder are two different
people. |
 Kotak
Accidental Disability Guardian
Benefit (ADGB) |
| In case
the policyholder is permanently
disabled as a result of accident,
this benefit keeps the policy alive
by waiving all future premiums
on the policy. |
| Permanent
Disability is defined as permanent
and immediate inability to work
or permanent loss of use of any
two limbs or total and permanent
loss of sight or injuries that
permanently preclude following
an appropriate occupation from
the date of accident onwards. |
|
|
| Eligibility
Criteria |
| Eligibility
Conditions |
KTB/
KPTB / ADB / PDB |
CIB |
LGB
/ ADGB (for Proposer) |
| Age
at entry |
Min.
18 yrs
Max. 60 yrs |
Min.
18 yrs
Max. 60 yrs |
Min.
18 yrs
Max. 50 yrs |
| Max
Premium Ceasing Age |
70
years |
70
years |
60
years |
| Benefit
Term |
Less
than/Equal to Premium Payment
Term # |
Equal
to Premium Payment Term
# |
Equal
to Premium Payment Term |
| Mode
of Payment |
As
of the Basic policy |
As
of the Basic policy |
As
of the Basic policy |
|
| #
For Kotak Headstart Future
Protect and Kotak Long Life
Secure Plus; rider benefit
terms should be equal to policy
term. For Kotak Headstart Assure
Wealth and Kotak Long Life
Wealth Plus; rider benefit
terms should be equal to premium
payment term. |
| Click
here to view Riders available
with the Non – Unit
Linked Plans. |
| Click
here to view Riders available
with the Unit Linked Plans. |
|
| Exclusions |
| For Kotak
Accidental Death Benefit, Kotak Permanent Disability
Benefit, Kotak Critical Illness benefit and Kotak
Accidental Disability Guardian Benefit: |
- Self inflicted injuries, suicide,
insanity, immorality, committing any breach of
law or being under influence of drugs, liquor
etc.
- Where the Life Insured is engaged
in aviation or aeronautics other than as a passenger
on a licensed commercial aircraft operating on
a scheduled route.
- Where injuries arise
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.
|
| Additional
Exclusions for Kotak Critical Illness
benefit: |
- Unreasonable failure to seek
or follow medical advice.
- Any
pre-existing medical condition not
disclosed at inception.
- Alcohol
or solvent abuse, or taking of drugs
except under the direction of a registered
medical practitioner.
- Infection
with Human Immunodeficiency Virus (HIV)
or condition due to any Acquired Immune
Deficiency Syndrome (AIDS). For the
purpose of this rider, the definition
of AIDS will be the one that is used
by the World Health Organization at
the date of onset or that used by any
other appropriate Government or international
organization. Infection by HIV will
be deemed to have occurred where blood
tests indicate the presence of the
virus or any antibodies to it.
|
| In
addition, no benefit would be paid in respect
of the exclusions specific to each critical
illness. |
| The
above exclusions shall be in addition to
the exclusions provided under the Base
Policy. |
| Kotak
Accidental Death Benefit UIN - 107C001V01,
Form No. C001, Kotak Permanent Disability
Benefit UIN - 107C002V01, Form No. C002,
Kotak Term Benefit UIN - 107C003V02, Form
No. C003, Kotak Critical Illness UIN -
107C004V02, Form No. C004, Kotak Accidental
Disability Guardian Benefit UIN - 107C011V01,
Form No. C011, Kotak Life Guardian Benefit
UIN - 107C012V01, Form No. C012, Kotak
Preferred Term Benefit UIN - 107C013V01,
Form No. C013. Ref No.: KLI/09-10/E-WEB/232 |
| A.
Kotak Headstart Assure Wealth (Single
Life Plan) UIN - 107L034V02, Form No.
L034, Kotak Headstart Future Protect
(Single Life Plan) UIN - 107L037V02,
Form No. L037, Kotak Long Life Secure
Plus UIN - 107L044V02, Form No. L044,
Kotak Long Life Wealth Plus UIN - 107L045V02,
Form No. L045, Kotak Super Advantage
UIN - 107L058V01, Form No. L058, Kotak
Guaranteed Pension Builder UIN - 107L057V01,
Form No. L057, Kotak Platinum Edge UIN
- 107L059V01, Form No. L059, Kotak Second
Innings Plan UIN - 107L052V02, Form No.
L052, Kotak Single Invest UIN - 107L053V02,
Form No. L053 - are unit linked non-participating
plans. In the unit linked insurance plans,
the investment risk in investment portfolio
is borne by the policyholder. |
| Risk
Factors |
- Unit Linked Life Insurance
products are different from the traditional
insurance products and are subject
to the risk factors.
- The premium
paid in Unit Linked Life Insurance
policies are subject to investment
risks associated with capital markets
and the NAVs of the units may go up
or down based on the performance of
fund and factors influencing the capital
market and the insured is responsible
for his/her decisions.
- Kotak
Mahindra Old Mutual Life Insurance
Ltd is only the name of the Insurance
Company and the plans names mentioned
in ‘A’ above are only the
names of the unit linked life insurance
contracts and do not in any way indicate
the quality of the contracts, their
future prospects or returns. The various
funds offered under these contracts
are the names of the funds and do not
in any way indicate the quality of
these plans, their future prospects
and returns.
- Please know the
associated risks and the applicable
charges, from your Insurance agent
or the Intermediary or policy document
of the insurer.
|
| B.
Kotak Capital Multiplier Plan UIN - 107N011V01,
Form No. N011, Kotak Child Advantage Plan
UIN - 107N008V01, Form No. N008, Kotak
Endowment Plan UIN - 107N002V01, Form No.
N002, Kotak Money Back Plan UIN - 107N003V01,
Form No. N003, Kotak Eternal Life Classic
Shield UIN - 107N040V01, Form No. N040,
Kotak Eternal Life Premier Shield UIN -
107N041V01, Form No. N041, Kotak Retirement
Income Plan (With Cover) UIN - 107N013V01,
Form No. N013, Kotak Retirement Income
Plan (Without Cover) UIN - 107N014V01,
Form No. N014, Kotak Surakshit Jeevan UIN
- 107N042V01, Form No.N042 - are non-unit
linked participating plans. |
| C.
Kotak Term Plan UIN - 107N005V04, Form
No. N005, Kotak Preferred Term Plan UIN
- 107N009V03, Form No. N009, Kotak Loan
Protection Plan - Regular Premium UIN -
107N027V01, Form No. N027, Kotak Loan Protection
Plan - Single Premium UIN - 107N028V01,
Form No. N028 - are non-unit linked non-participating
plans |
Kotak
Mahindra Old Mutual Life Insurance Ltd.
Regn. No.:107, Regd. Office: 9th floor,
Godrej Coliseum, Behind Everard Nagar,
Sion (E), Mumbai 400 022.
Website: www.kotaklifeinsurance.com,
Email: lifeexpert@kotak.com |
| Insurance
is the subject matter of the solicitation.
For more details on risk factors, terms
and conditions please read sales brochure
carefully before concluding a sale. |
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