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Kotak Endowment Plan

 
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Overview
To provide your family the financial security in case of unfortunate contingencies, you require a plan that offers you life cover along with the ability to grow your savings.
Kotak Endowment Plan is a participating endowment plan that provides you an avenue for long term regular investments to accumulate a lump sum on maturity.
 This plan is ideal for you...
  • If you are looking for regular investment over a long term and would want to receive a lump sum on maturity.
  • If you are unsure of your future stream of income or would like to pay up all your premiums over a short period of time and enjoy benefits of the policy for the entire policy term.
 Advantages
  • Dual benefit of insurance and accumulating investments
  • Earn bonuses on the plan
  • Limited premium payment - if you are unsure of your future stream of income or would like to pay up all your premiums over a period of time and enjoy benefits of the policy for the entire policy term.
 Key Features
Maturity Benefit
The higher of the Basic Sum Assured or the Accumulation Account will be paid to you on maturity.
Death Benefit
In the event of death, the beneficiary would be entitled to the Basic Sum Assured less all the premiums due but not paid (if any) or the Accumulation Account, whichever is higher.
Bonus
The premiums paid by you, net of charges are deposited in the Accumulation Account and the bonus declared is credited to this account at the end of each financial year.
During the term of the plan, returns are earned on a compounding basis, accumulating to create a substantial corpus for you.
Limited Premium Payment Option
You may choose a term ranging from 10 to 30 years but pay off all your premiums over a limited term of 3,5,7,10 or 15 years with your life cover continuing till maturity. Your Accumulation Account would benefit from the bonuses declared every year, not just during the premium paying period but for the entire policy term.
Automatic Cover Maintenance
In case you miss some premium payment, the Automatic Cover Maintenance facility ensures the policy remains in force. This facility is available after the first three policy years.
Rider Benefits:
You can choose from any of the following riders:
  • Term / Preferred Term Benefit (KTB – UIN No: 107C003V02, KPTB – UIN No: 107C013V01)
  • Accidental Death Benefit (ADB – UIN No: 107C001V01)
  • Permanent Disability Benefit (PDB – UIN No: 107C002V01)
  • Critical Illness Benefit (CIB – UIN No: 107C004V02)
  • Life Guardian Benefit (LGB – UIN No: 107C012V01)
  • Accidental Disability Guardian Benefit (ADGB – UIN No: 107C011V01)
Please refer to the rider write up for details.
 Tax Benefits
Section 80C, 10(10D) of Income Tax Act, 1961 would apply. Premiums paid for Critical Illness Benefit qualify for a deduction under Section 80D. Tax benefits are subject to change in tax laws. You are advised to consult your tax advisor for details.
For more details on terms and conditions please download the product brochure. UIN No.: 107N002V01
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Kotak Mahindra Old Mutual Life Insurance Ltd. A joint venture between Kotak Mahindra Bank Ltd. and Old Mutual plc.
9th floor, Godrej Coliseum, Behind Everard Nagar, Sion (E), Mumbai - 400 022

All rights reserved. Registered with Insurance Regulatory & Development Authority (IRDA) as Life Insurance Company. Regn. No. 107.
Insurance is the subject matter of the solicitation
Tax benefits available with life insurance are as per the Income Tax Act, 1961, and are subject to amendments made thereto from time to time.
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.