Kotak Money Back Plan Review
Kotak Life Insurance Company offers Kotak Money Back Plan. Kotak Premier Money Back Plan is a savings and Protection Plan. Kotak Life Insurance Money Back Plan is a Limited Pay Plan that provides a Lump sum payouts at regular intervals. In this Money Back Plans instead of getting a Lump Sum amount at a time, the insured can avail a percentage of sum assured at regular period of intervals. In Kotak Premier Money Back Plan your savings will grow with yearly declared Reversionary Bonuses. The Insured on maturity will be paid with a Lump sum maturity addition. Kotak Money Back Plan also provides an additional cover for death due to an accident. The Policyholder can pay the Premium of Kotak Premier Money Back Plan by using Kotak Life Insurance Online Payment. You can calculate the premium for Kotak Life Money Back Plan or Kotak Life Premier Money Back Plan using Kotak Life Premium Calculator.
Kotak Premium Money Back Plan provides you with regular cash backs at equal intervals depending on the policy term chosen as a percentage of the Basic Sum Assured. On the death of insured, the nominee will get the sum assured and other guaranteed additional benefits. Every year, it gives guaranteed additions on maturity. The Kotak Money Back Plan provides an Additional Protection through optional riders. Along with the maturity payout, the insured will be covered by a Lump sum Maturity Addition. As per your requirement, you can select Kotak Premier Money Back Plan or Kotak Money Back Plan since all Kotak Life Insurance Company Plans satisfy the needs of people. You can also buy Kotak Life Money Back Plan Online by visiting the official website of Kotak Life.
Kotak Life Money Back Plan Eligibility Criteria
The customers who wanted to buy this policy should know the eligibility criteria. These details are very useful for the customers to know the entry age, sum assured, policy terms, coverages, and other details of Kotak Money Back Plan. The following table provides brief details regarding the Kotak Premier Money Back Plan.
|Minimum Entry Age||2 Years|
|Maximum Entry Age||59 years for 16 years term.
55 years for 20 years term.
51 years for 24 years term
|Policy Term||75 Years|
|Maximum Maturity Age||16 years / 20 years / 24 years|
|Basic Sum Assured||Min: Rs.1,50,000/-.
Max: No Limit.
|Premium Payment Terms||Limited: 8 years for 16 years term.
10 years for 20 years term.
12 years for 24 years term.
|Premium Payment Mode||Yearly, Half-yearly, Quarterly, Monthly.|
|Premium Levels||Min: Depends on Minimum Sum Assured.
Max Depends on Sum Assured levels.
Kotak Premier Money Back Plan Details
Kotak Money Back Plan is tailor-made Plan, which provides the money at regular intervals to the Life Insured. The Kotak Life Insurance Money Back Plan meets the needs of the Insured for Children Education, Career Development, Starting of Business, Dream of own house, etc. The Life Assured have to read the features and benefits before taking the Kotak Life Money Back Plan. This Kotak Life Insurance Money Back Plan is a Traditional money back plan. In the case of unfortunate death of Life Insured, the Nominee will receive the Death Benefit. Refer the eligibility conditions of Kotak Money Back Plan below.
Kotak Life Insurance Money Back Plan Features and Benefits
- The Insured can Earn bonuses from 1st year of the policy.
- On accidental death, the policyholder will be enhanced a death cover with an additional payout.
- The Death Benefit under this plan increases by 7% every year.
- Guaranteed Payout option is available for every 5 Policy Years.
- Additional Protection through 3 optional riders.
- Regular payouts at specific intervals throughout the terms.
- Death Benefit: If the insured had died within the policy period, then he will get Sum Assured on death + accrued Reversionary bonuses + Terminal Bonus if any.
- Death Sum Assured:
- If Entry Age of Life Insured is less than or equal to 45 years then 11 times of Annual Premium/ Basic Sum Assured.
- If Entry Age of Life Insured is greater than 45 years then he will be paid 7 times of Annual Premium of Annual Premium or Basic Sum Assured.
- Maturity Benefit: The Policyholder will be paid with Balance of the Basic Sum Assured on the maturity date + Maturity Addition + Accrued Reversionary Bonus + Terminal Bonus if any.
- Tax Benefit: You can get tax benefits on Kotak Money Back Plan for premiums paid as per the prevailing tax laws at the time of payment of premium. For more Information refer www.taxqueries.in
- Accidental Death Benefit: In a case of death due to an Accident along with the Death Benefit an additional Basic Sum Assured will be paid.
- Kotak Term Rider.
- Kotak Life Guardian Benefit.
- Kotak Accidental Disability Guardian Benefit.
Kotak Money Back Plan Forms
Kotak Life Premier Money Back Plan requires the Proposal Form to buy the Kotak Money Back Plan Offline. The customers may know the details using the product Boucher, policy document, etc. Required forms and documents to know the full details of Kotak Life Money Back Plan are available below.
Kotak Life Insurance Money Back Plan Additional Information
Following is the additional information about the Kotak Life Insurance Money Back Plan.
- Grace Period: The Policyholder can get the grace period of 30 days from the due date for payment of premium. You can get the grace period for the yearly, half-yearly, quarterly mode, and 15 days for the monthly mode.
- Free look period: If you are not satisfied with this policy, you can return the policy within 15 days of receiving the policy contract. Your premiums will be refunded by deducting some charges of stamp duty and medical examination if any.
- For 16 years term: If premiums for the first two policy years are not paid within the grace period.
- For 20 years, 24 years term: If premiums for the first three policy years are not paid within the grace period.
- Revivals: If the policy has expired, it may be revived within two years from the due date of the first unpaid premium.
Kotak Life Premier Money Back Plan Related Posts
Here, we are providing the related posts of Kotak Life Insurance. Here we are providing the detailed information about Kotak Life Premier Money Back Plan. Click the below links, if you want to know the details about the Online Payment, Recruitment, Renewal, Claim Forms, and Documents.
Kotak Money Back Plan Online Payment
Kotak Life Insurance Recruitment
Kotak Money Back Plan Claim Forms and Documents
Kotak Premier Money Back Plan Premium Calculator
For more information regarding the Kotak Money Back Plan Features & Benefits, visit the official website: insurance.kotak.com.