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Kotak Money Back Plan

 
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Kotak Money Back Plan
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Kotak Money Back Plan
Overview
The Kotak Money Back Plan offers the key benefit of cash lump sums at periodic intervals of five years, ensuring that you are able to meet any of your financial obligations. Such plan not only provide life cover but also entitle you to a guaranteed addition and bonus on maturity. Money back plans like these not only let you enjoy regular cash flows during the policy term, they also get you a substantial life cover, which increases every year.
 The Kotak Money Back Plan is ideal for you if...
  • You would like to receive cash lump sums at regular intervals to plan for expenses like children's education, purchase of an asset or to meet any other unforeseen contingency.
  • You are looking for guaranteed additions to your money along with a lump sum on maturity.
  • You want a plan that offers you not just regular cash back and bonuses, but also a life cover that automatically increases each year.
 Advantages of the Kotak Money Back Plan
  • Cash lump sums at intervals of 5 years
  • Guaranteed additions on maturity
  • Death benefit increasing at 7% of sum assured at the end of each year
  • Earn bonuses on the plan
 Key Features
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. This bonus will be over and above the Guaranteed Addition you receive on maturity.
Maturity Benefit
This is a participating money back plan that has been designed to offer you cash at regular intervals of 5 years.
The table illustrates the Survival Benefits as a percentage of the sum assured.
Survival Benefit Payouts (percentage of sum assured)
  5th yr 10th yr 15th yr 20th yr 25th yr
15 year Plan
Survival
Benefit
Guaranteed
Addition

25%
-

25%
-

50%
20%
20 year Plan
Survival
Benefit
Guaranteed
Addition

20%
-

20%
-

20%
-

40%
30%
25 Year Plan
Survival
Benefit
Guaranteed
Addition

15%
-

15%
-

15%
-

15%
-

40%
40%
* Bonus, if any is payable over and above these benefits.
Increasing Death Benefit
We realize that with increasing inflation, you are concerned about the falling value of money and therefore the eroding value of your life cover. The Kotak Money Back Plan has been designed to take care of this concern of yours.
The insurance cover that you enjoy on the policy will automatically increase by 7% of sum assured at the end of each year so that your life cover can keep pace with the rate of inflation.
What makes this future attractive is that while we increase your cover by 7% of sum assured each year, you are neither required to undergo any further medical tests nor does your premium commitment change.
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 years.
 Other Features of the Kotak Money Back Plan
You can choose from any of the following riders.
  • Kotak Term / Preferred Term Benefit (KTB – UIN No: 107C003V02,Form No.-C003 KPTB – UIN No: 107C013V01, Form No-C013)
  • Kotak Accidental Death Benefit (ADB – UIN No: 107C001V01, Form No. – C001)
  • Kotak Permanent Disability Benefit (PDB – UIN No: 107C002V01, Form No.-C002)
  • Kotak Critical Illness Benefit (CIB – UIN No: 107C004V02, Form No-C004)
  • Kotak Life Guardian Benefit (LGB – UIN No: 107C012V01, Form No.-C012)
  • Kotak Accidental Disability Guardian Benefit (ADGB – UIN No: 107C011V01, Form No.-C011)
Please refer to the rider write up for details.
 Tax Benefits of Money Back Plans
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.
Insurance is the subject matter of the solicitation. Kotak Money Back Plan UIN: 107N003V01, Form No. N003). This is a non-unit linked, participating plan. Reference Number: KLI/09-10/E-WEB/077
For more details on risk factors, terms and conditions please download the product brochure.
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Life insurance gives an individual’s family the financial security needed and protects them from uncertainties and eventualities of life.

ULIPs or Unit Linked Insurance Plans for Kotak Life Insurance gives an individual the security of life insurance along with wealth creation opportunities. One can benefit from flexibility, liquidity, strategic savings, tax benefits and fund options that are inherent in a ULIP.

Retirement Plans from Kotak Life Insurance helps provide an individual with the financial security to lead a comfortable lifestyle in his post retirement years. Make use of the retirement calculator to assess your retirement options wisely.

Savings and Investment Plans from kotak Life Insurance are customized plans that help an individual achieve his / her long-term goals through smart financial planning.

Children Plans from Kotak Life Insurance help an individual secure his / her child’s financial future so that in future the child is able to fulfill every dream and aspiration without any hindrance

Group Life Insurance Plans from Kotak Life Insurance can help address the needs of both employees and employers, to secure their financial future.
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.