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Kotak Mahindra Life Insurance

Kotak Mahindra Life Insurance Company Ltd. (Formerly known as Kotak Mahindra Old Mutual Life Insurance Ltd.) Kotak Mahindra Life Insurance Company Ltd. is a 100% owned subsidiary of Kotak Mahindra Bank Ltd. (Kotak). Kotak Life Insurance (KLI) provides world class insurance products with high customer empathy. Its product suite leverages the combined prowess of protection and long term savings. Kotak Life Insurance is one of the fastest growing insurance companies in India and has covered over several million lives. For more information, please visit the company's website at https://insurance.kotak.com

Group Insurance
Why Kotak Life Insurance?
AMONG TOP 5 PRIVATE LIFE INSURERS
Kotak Life Insurance is among the *Top 5 Life Insurers in India.
CUSTOMER LOYALTY
^^Ranked No. 1 in private Life Insurance in customer loyalty
FINANCIAL STRENGTH
**Net worth of Rs. 1, 521 Cr. As on 31 March, 2016
 
MARKET PRESENCE
##Wide coverage across 227 branches over 169 cities as on 31 March, 2016
CONSISTENT PROFITABLE GROWTH
Kotak has shown a *consistent profitable growth year on year since the last 8 years (*growth of 32% in FY 2015-16).
LIVES COVERED
**1.5 Cr lives covered (12.19 Lac in individual + 138.04 Lacs in group)
 

SOURCE: *As per IRDAI Ranking – Life Insurance Companies for FY 2016-17 ** Public Disclosure – Annual Report FY 2016-17 published under “regulatory disclosures” with https://insurance.kotak.com                                                                                                                               

Plans that can help achieve your goals:
KOTAK PREMIER ENDOWMENT PLAN

Kotak Premier Endowment Plan is a long-term savings and protection plan that provides financial security to cope with unfortunate contingencies along with the ability to save for your future financial needs. This plan provides guaranteed* additions in the first five policy years and bonuses start accruing from 6th year onwards, all this put together builds up a corpus for your secure future.

Key Advantages:

  • Guaranteed Additions*: At 5% per annum of Basic Sum Assured in the first 5 policy years
  • Earn bonus from 6th policy year onwards
  • Two Payout options for death & maturity proceeds
  • Comprehensive Protection through life cover and optional riders

*Subject to the policy being in force.

Main Benefits:

  • Maturity Benefit:
    This plan provides for wealth creation during the policy tenure. On survival till the end of the policy term the following benefit will be payable:
    • Basic Sum Assured PLUS
    • Accrued Guaranteed Additions PLUS
    • Accrued Reversionary Bonuses and Terminal Bonus, if any
  • Death Benefit:
    In the unfortunate event of death during the term of the plan, the nominee will receive the following:
    • Minimum Death Benefit (as explained ) PLUS
    • Accrued Guaranteed Additions PLUS
    • Accrued Reversionary Bonuses and Terminal Bonus, if any
  • Payout options on Maturity as well as Death:
    The plan provides the flexibility of receiving your pay outs on maturity. The same flexibility is available to your nominee in case of death. The payouts can be taken in any one of the ways given below:
    • Lump Sum Payout: paid out immediately OR
    • Take up to 50% of the total Maturity/death benefit immediately and the balance will be payable by way of equal installments over the next 5 or 10 years as chosen. This payout will be inclusive of an interest rate of 4% p.a.
  • Additional Protection through Riders:
    A rider is an add-on provision to a basic insurance policy that provides additional benefits to the policyholder at an additional cost. It’s a way to maximize the benefits on your life insurance policy and to customize it to suit your specific needs.

    Following rider options are available with the plan to provide additional protection:
    • Kotak Term Benefit Rider UIN: 107B003V03
    • Kotak Accidental Death Benefit Rider UIN: 107B001V03
    • Kotak Permanent Disability Benefit Rider UIN: 107B002V03
    • Kotak Critical Illness Benefit Rider UIN: 107B004V03
    • Kotak Life Guardian Benefit Rider UIN: 107B012V02
    • Kotak Accidental Disability Guardian Benefit Rider UIN: 107B011V02
  • Tax Benefit:
    Tax benefits are subject to conditions specified under section 10(10D) and section 80C of the Income-tax Act, 1961. Tax laws are subject to amendments from time to time. Customer is advised to take an independent view from tax consultant.
KOTAK PREMIER MONEY BACK PLAN

Kotak Premier Moneyback strive to provide “The Best” to your family, to them to - accomplish their dreams & aspirations and to ensure happiness at every stage of life. Sometimes we may have to say “No” due to financial constraints; wouldn't it be great if we never had to say “No”? To support you in achieving the dreams and aspirations of your family, Kotak Life Insurance presents Kotak Premier Moneyback Plan a savings and protection plan that provides lump sum payouts at regular intervals to meet your interim financial requirements and provide the best to your family.

Key Advantages:

  • Premier Payment Benefit - Pay for only Half the Term
  • Premier Payout Benefit – Guaranteed* regular payout will range from 110% to 130% of Sum Assured
  • Premier Protection Benefit - Additional benefit of Basic Sum Assured on Accidental Death
  • Earn bonuses from 1st year onwards

*Guaranteed benefits due under this plan are available provided premiums are paid regularly for the entire premium payment term and the policy is in force.

Main Benefits:

  • Regular Payouts:
    This plan provides you with regular cash backs as percentage of the Basic Sum Assured at equal intervals depending on the policy term chosen. The balance Sum Assured is paid out at maturity. (Please read the brochure which illustrates the payout at specific frequencies)
  • Maturity Additions:
    Along with the maturity payout a lump sum Maturity Addition will also be given for in-force policies. Maturity Additions will be as a percentage of the Basic Sum Assured anging from 10% to 30% and will vary depending on the Policy Term.
  • Maturity Benefits:
    On the date of maturity, the sum of the following will be paid out. Balance of the Basic Sum Assured (i.e. 40% of Basic Sum Assured)
    • Maturity Addition PLUS Accrued Reversionary bonus (if any)
    • Terminal bonus (if any).
  • Death Benefit:
    In the unfortunate event of death due to natural causes (other than accident) during the term of the policy, the nominee will receive the Sum Assured on death (as mentioned below) PLUS accrued Reversionary bonuses PLUS Terminal bonus (if any).
    • Entry age of Life Insured < = 45 years - Higher of: 11 times of Annual Premium** OR Basic Sum Assured
    • Entry age of Life Insured > 45 years Entry age of Life Insured < = 45 years - Higher of: 7 times of Annual Premium** OR Basic Sum Assured

    **Annual Premium refers premium paid by the Policyholder in a year excluding modal factor loading, e.g. Half-yearly premium of `51,000 >>Annual Premium will be `100,000 (`51,000 / modal factor of 51%).
    Please Note:

    • Minimum death benefit at any given point in time shall be 105% of total premiums paid till the date of death (excluding any extra premium).
    • The above Death Benefit will be payable irrespective of the Regular Payouts already paid.

  • Death Benefit:
    In the unfortunate event of death due to natural causes (other than accident) during the term of the policy, the nominee will receive the Sum Assured on death (as mentioned below) PLUS accrued Reversionary bonuses and PLUS Terminal bonus (if any).
  • Accidental Death Benefit:
    In case of death due to an Accident during the policy term, an additional Basic Sum Assured will be paid along with the Death Benefit (as explained above).
  • Additional protection through Riders:
    A rider is an add-on provision to a basic insurance policy that provides additional benefits to the policyholder at an additional cost. It’s a way to maximize the benefits on your life insurance policy and to customize it to suit your specific needs.
    Following rider options are available with the plan to provide additional protection:
    • Kotak Term Benefit (UIN:107B003V03)
    • Kotak Life Guardian Benefit (UIN:107B012V02)
    • Kotak Accidental Disability Guardian Benefit (UIN:107B011V02)
  • Tax Benefit:
    Tax benefits are subject to conditions specified under section 10(10D) and section 80C of the Income-tax Act, 1961. Tax laws are subject to amendments from time to time. Customer is advised to take an independent view from tax consultant.


For more details contact your nearest Fullerton India branch.

*Kotak Premier Endowment Plan UIN: 107N079V01, Form No.: N079. This is a savings-cum-protection oriented participating endowment Plan. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale. For details on riders, please refer to the Rider Brochure.