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
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 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 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.
For more details contact your nearest Fullerton India branch. Kotak Premier Endowment Plan UIN: 107N079V02.
This is a Savings-cum-Protection oriented Participating Endowment Plan. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. For details on riders please read rider brochure.
