Kotak Mahindra Old Mutual Life – Term Plan/ Preferred Term Plan

September 7th, 2009

Kotak Term Plan is a pure risk cover plan that provides higher insurance protection at affordable cost.

Kotak Preffered Term Plan is specially designed to provide financial security to your family. This plan offers special premium rates to non tobacco users and women, for the sum assured of Rs.25 Lakh and Above.

Benefits under Kotak Term Plan/Preferred term Plan-

1.In the event of death of the life assured during the term of the policy, the sum assured is payable to the nominee.

2. The following additional benefits are available-

Accidental Death Benefit

Permanent Disability Benefit

Critical Illness Benefit

3. Tax Benefits on premium paid under section 80C, 10(10D) and 80D of the Income Tax Act,1961.

Key Features:

1. Flexibility to choose the premium payment term from the options of Single, Regular and Limited Premium.

2. Option to convert Kotak Term Plan into any other plan offers by Kotak Life Insurance.

Plan Parameter:

 

Eligibility Criteria Term Plan Preferred Term Plan
Minimum Age at Entry 18 Years 18 Years
Maximum Age at Entry 65 Years 65 Years
Maximum Age at Maturity 70 Years 70 Years
Minimum Policy Term 5 Years (Regular & Single)10 Years (Limited) 5 Years (Regular & Single)10 Years (Limited)
Maximum Policy Term 30 Years 30 Years
Minimum Sum Assured Rs.3 Lakh   Rs.25Lakh
Maximum Sum Assured Rs.24,99,999/-Lakh Subject to Underwriting
Premium Payment Mode Single, Annual, Half Annual, Quarterly and Monthly Single, Annual, Half Annual, Quarterly and Monthly

 

Kotak Mahindra Old Mutual Life-Preferred Term Plan

September 3rd, 2009

Kotak Term Plan is a pure risk cover plan that provides you life cover at less premium with financial protection for specified term period. Kotak’s Preferred Term Plan offers attractive premium rates to non-tobacco users and women, for a sum assured of Rs. 25 lakhs or more.

Benefits of Preferred Term Plan-

  1. Truly a low cost insurance plan that offers high cover at low premiums.

  2. Special rates for women and non-tobacco users.

  3. Choice of Premium Payment.

  4. Options – regular, single and limited premium payment Option to convert to any other plan.

Key Features-

  1. Truly a low cost insurance plan.
  2. Special Premium Rates.
  3. Death Benefit.
  4. Flexibility in payment of premiums- Single, Regular and Limited Premium Payment.
  5. Conversion Option- Can convert your Kotak Term Plan to any other plan offered by the company, provided there are at least 5 years before cover ceases.

Kotak Platinum Advantage Plan

April 17th, 2009

Kotak platinum Advantage plan is unit linked insurance plan that comes with unique features such as life cover, embedded investment advice, aggressive market linked growth option with capital guarantee.

The minimum life coverage of the policy has to be the greater of half the policy term in years by multiplied by the annual premium.

Features and Benefits-

  1. Wider option to choose between 14 fund option, six under the shield account and eight under the dynamic.

  2. Death benefits of total sum assured plus the value of units in the shield and dynamic account.

  3. Maturity benefits has two types- (1) higher of the guaranteed maturity value or the actual value of units in shield account and (2) the value of units in dynamic account.

  4. Facility of partial withdrawal or full surrender after completion of three policy year. The minimum amount of partial withdrawal is Rs.10,000/- and minimum Rs.10,000/- is required to be maintain in the account after partial withdrawal.

  5. Tax benefits under section 80C and 10(10D) of income tax act.

 

Kotak Loan Protection Plan

April 16th, 2009

Kotak Loan Protection Plan is a unique product which takes care of the any kind of loan liabilities. This plan is specially designed to protects your family from the burdens of your loans.

It is non participating pure risk cover plan, there are no maturity benefits are payable.

Features and Benefits-

  1. In case of unfortunate death of policy holder, the company will pay the future amount towards the loan.

  2. Death benefit of total sum assured as per predetermined benefit schedule is payable to the nominee.

  3. Option to choose the premium payment mode between single or regular.

  4. Additional protection by Kotak Critical Illness Benefit Rider.

  5. Tax benefits under section 80D, 80C and 10(10D) of income tax act.

Kotak Retirement Investment Plan

March 30th, 2009

On the basis of retirement, investment is always wiser decision for you to make life comfortable after your post retirement years. Because the cost of basic commodities are higher and still increasing year by year. At the time of your retirement the cost will be much higher, this future investment will really makes effort for you at this situation.

Kotak Retirement Investment Plan is the solution that offers saving as well as investment option for the golden years of your life. This plan is specially designed to secure your future which gives complete flexibility to choose premium amount, retirement age and market linked funds.

Features and Benefits of Kotak Retirement Investment Plans-

  1. Maturity Benefits- At the time of vesting you can withdraw one third amount from the guaranteed maturity value or fund value in main account, whichever is higher and fund value in main account.
  2. Death Benefit- Beneficiary will receive the fund value in the main account and fund value in the top up accounts as a lump sum.
  3. Surrender Benefit- Surrender value is paid in lump sum after the third policy year.
  4. Tax Benefits- Tax benefit is available under section 80C of the income tax act.

Whole life cover at low cost premium

March 17th, 2009

Kotak Eternal Life Plan is a participating whole life plan that provides enhanced protection till the age of 99. The plan provides high cover at lower premium, cash lump sum benefits at the end of premium payment term and increased choice through range of plan option.

Kotak Eternal Life Plan is available in two variants: Eternal Life Premier Shield and Eternal Life Classic Shield.

Features and Benefits of Kotak Eternal Life Plan-

  1. Whole life protection till the age of 99 years in low cost premium.
  2. Option to choose sum assured and number of years to pay premiums.
  3. Guaranteed death benefits if insured dies during the policy term.
  4. Lump sum cash benefit at the end of premium term.
  5. Rider plans are available as per your convenience.
  6. Tax benefits under section 80C and 10D(D) of income tax act.

Pure risk cover plan in reasonable cost

March 16th, 2009

Kotak Term Plan is a non-participating unit linked products that provides cover for life for specific period at very reasonable cost. This is a pure risk cover product with no maturity benefits payable on survival but policy pays lump sum amount for death benefit.

Policy Details-

  1. Entry Level Age- 18  to 65 years.
  2. Policy Term- 5 to 30 years.
  3. Sum Assured- Rs.3,00,000/- to Rs.25,00,000/-

Features and Benefits-

  1. High insurance cover at lower premium.
  2. Flexibility to choose premium payment terms- single, regular and limited premium.
  3. Premiums paid by annually, half annually, quarterly or monthly.
  4. On death of the policy holder, the sum assured is payable to the nominee.
  5. Option to convert Kotak Term Plan into any other preferred Kotak Life Insurance plan.
  6. Rider plans in reasonable additional premium to enhance insurance cover.
  7. Tax benefit under section 80C and 10 (10D) of income tax act.

Policy for non-tobacco users

March 16th, 2009

Kotak Preferred Term Plan is specially designed to provide cover for non tobacco users who doesn’t consume tobacco in any form like bidi, cigarette, gutkha, etc.

It is a pure risk cover products  provide cover for your life and protect your family in case of misfortune. The plan is available in lower premium rates compared to regular term plans of Kotak.

Policy Details-
Entry Level Age-18  to65 years
Policy Term- 5 to 30 years
Sum Assured- Rs,25,00,000/- and above

Features and Benefits-

  1. Special premium rates for non tobacco users and women.
  2. Flexibility to choose premium payment terms- single, limited and regular payment.
  3. Premium paid by annually, half annually, quarterly or monthly.
  4. Option to convert Kotak Term Plan into any other preferred term plan of Kotak.
  5. On death of the policy holder, the sum assured is payable to the nominee.
  6. Rider plans- Accidental Death Benefit, Permanent Disability Benefit and Critical Illness Benefits at reasonable additional premium.
  7. Tax benefit under section 80C and 80D(D) of income tax act.

Financial security to your family

March 10th, 2009

Kotak Long Life Secure Plus is a unit linked product that provides financial security to your family’s future against any unfortunate events. It gives dual benefit – wealth creation for long term basis and complete protection to your family.

Benefits of Kotak Life Secure Plus-

  1. Option to withdraw any amount on maturity.
  2. On death of the policy holder, total sum assured with additional benefit is payable.
  3. Option to choose premium payment term between Regular payment option and Limited payment option. And pay it by your convenience monthly, quarterly, half annually and annually.
  4. Partial withdrawal is available after first three policy years.
  5. Guaranteed additional units for long term investment.
  6. Rider options for additional protection at very lower cost. It includes- Kotak Accidental Death Benefit and Kotak Critical Illness Benefit.
  7. Tax deduction under section 80C and section 10(10D) of income tax act.

Kotak Money Back Plan

February 18th, 2009

Kotak Money Back Plan is the best plan those who wish to create finance for future purpose with insurance cover. It pays guaranteed sum assured at regular intervals of every five years. It also provide additional benefits and bonuses on maturity years.

Eligibility-

-Minimum age-18 years

-Maximum age-60 years

-Maximum maturity age-75 years

-Term of the policy -15, 20 and 25 years.

Benefits of Kotak Money Back Plan-

  1. A regular fixed amount is paid periodically to the life insured.
  2. In case of death, the total sum insured is paid to the nominee.
  3. Death benefit increases by 7% of the sum assured every year which control the inflation.
  4. Premiums paid are deposited in accumulation account is invested in financial instruments, which gives regular payouts.
  5. 15 days free look period.
  6. Optional benefits such as- term benefit, accidental death benefit, critical illness benefit and permanent disability benefit.
  7. Premiums are paid annually, half annually or quarterly.