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| Home> For Individuals> Savings & Investment Plans> Kotak Money Back Plan |
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| Overview |
| This 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. Besides protecting
your life throughout the term, you are also entitled
to a guaranteed addition and bonus on maturity.
So not only do you enjoy regular cash flows during
the policy term, but also get a substantial life
cover, which increases every year. |
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 This
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.
- If you are looking for guaranteed additions to your money along with a lump sum on maturity.
- If you want a plan that offers you not just regular cash back and bonuses, but also a life cover that automatically increases each year.
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| Advantages |
- 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
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| Key Features |
 Bonus
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| 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
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| This is a participating plan that has been designed to offer you regular cash back at intervals of 5 years. |
| The table illustrates the Survival Benefits as a percentage of the sum assured. |
| Survival Benefit |
Payouts (percentage of sum assured) |
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5th yr |
10th yr |
15th yr |
20th yr |
25th yr |
15 year Plan
Survival
Benefit
Guaranteed
Addition |
25%
- |
25%
- |
50%
20% |
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20 year Plan
Survival
Benefit
Guaranteed
Addition |
20%
- |
20%
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20%
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40%
30% |
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25 Year Plan
Survival
Benefit
Guaranteed
Addition |
15%
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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 eroding 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. |
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| Other Features |
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)
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| 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. |
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| For more details on terms and conditions please download the product brochure. |
UIN No.: 107N003V01 |
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