Life Insurance from Kotak Mahindra Life Insurance Co. Ltd.

Whatever your personal loan is for, you can enjoy it when you know that there is help to cover your repayments just in case you are not around. Personal loans are a great lifestyle convenience but if you are not around or you lose your job, or become critically ill, that debt could quickly cause inconvenience to your family. Having a life insurance can help you cover your repayments. Keeping your benefits in mind, Fullerton India associates with Kotak Mahindra Life Insurance Company Ltd. to offer you a range of life insurance policies.

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

 

Advantages to the customers

 

In case of occurrence of the insured event, borrower, his family and dependents will not have the burden of paying back outstanding loan amount as per the cover schedule provided by the Insurer as the insurance company will pay the benefits as defined

 

Ease in getting Group Insurance through simple procedure

 

Financial security for your family

PLANS THAT CAN HELP ACHIEVE YOUR GOALS:

KOTAK GROUP ASSURE (UIN: 107N051V03)

To secure dreams and aspirations of your family, we at Kotak Life Insurance design specific solutions, one such solution is Kotak Group Assure Plan. This is a Group Credit Reducing Cover Insurance Plan which helps protect the family from risk of loan liability and secures the asset in case of the demise of the insured.

KOTAK GROUP SHIELD (UIN: 107N050V04)

To enable everyone realize their long cherished dreams of building a home, providing for children's education, creating assets or providing other attractive credit and savings options, we at Kotak Life Insurance design specific solutions. Kotak Group Shield is one of the group credit insurance plans that helps protect the assets in case of unfortunate event of death. This scheme provides total financial security to the customers by providing coverage equal to the initial loan amount.

Kotak Complete Cover Group (UIN: 107N018V06)

Kotak Complete Cover Group Plan provides life cover to the borrowers family relieving the family of the loan liability. It ensures that your loan doesn’t burden your family in your absence.

Why Kotak Mahindra 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  INR 4,045 Cr. 

MARKET PRESENCE

*Wide coverage across 243 branches over 149 cities

CONSISTENT PROFITABLE GROWTH

Kotak has shown a consistent profitable growth year on year (*growth of 14% as on 31st March 2021).

LIVES COVERED

*3.29 crore active lives.

 

SOURCE:
www.kotak.com
*All the data above is as of Mar 31, 2021

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.

*Subject to the policy being in force.
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.
 

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.
 

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 ranging from 10% to 30% and will vary depending on the Policy Term.

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
  • 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.

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).

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.

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)
  • Kotak Critical Illness Plus Benefit Rider (UIN: 107B020V01)

For more details contact your nearest Fullerton India branch.

Kotak Premier Moneyback Plan UIN: 107N083V01, This is a participating anticipated 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.

 
 

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

Disclaimer:

Insurance is the subject matter of the solicitation. Insurance and/or any Third Party Products (TPP) are not mandatory for the purpose of application and disbursement of the loan. It shall be at the sole discretion of the customer to avail any such insurance and/or any Third Party Products along with the loan.

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