All phases of life have different types of financial requirements. At retirement, we might be looking at an alternative income or pension source while at a phase when our children have grown up, we would require a cash lump sum for expenses like marriage.
The Kotak Capital Multiplier Plan is a multi-purpose savings and investment plan that offers you returns in the form of bonuses on your premiums and has a flexible withdrawal option which gives you the power to decide the time and amount of withdrawals.
Accumulate bonuses on your account
Bonuses are declared year-on-year in your account to ensure that the premiums paid by you earn returns and you are able to accumulate a substantial sum at a future date.
Get a planned corpus on maturity
At maturity of the plan, you are entitled to the higher of the basic sum assured or the total amount built up in the accumulation account along with the bonuses declared on the policy. Thus, ensuring that you have accumulated enough to sustain yourself at phases like retirement.
15-year withdrawal period
If you do not see any immediate utilisation of your maturity proceeds, you could let it stay invested with us for a maximum of 15 years after the maturity of the plan and it could function like a fixed deposit offering returns and liquidity to withdraw all your funds. This way you can withdraw money in phases to support various expenses that come your way.
Death benefit for the premium payment term and beyond
In the event of death during the premium payment term (build up phase), the beneficiary would get the higher of basic sum assured or the total amount built up in the accumulation account. In addition, 10% of basic sum assured would also be given to the beneficiary. This would ensure that an unfortunate event like death can never hinder your family’s financial well-being.
After the premium payment term, if you choose to use the 15-year withdrawal period facility, you would be eligible for a life cover of 10% of the basic sum assured and the balance in the accumulation account for that period, even though your plan term has been finished.
Choice to opt for early maturity (in case of ill health)
In this plan, you can even opt for an early maturity citing ill health. For details refer to the brochure. This feature is to ensure that the long term nature of this plan does not come in the way for your needing financial support in case of medical emergencies.
Automatic Cover Maintenance to keep the plan going
Future is uncertain and it is difficult to keep up with the obligation of premium payment year-on-year. Even if you miss a premium payment or two, you can still keep your account with the Automatic Cover Maintenance that applies after the 3rd policy year.
Additional protection through Kotak Term Benefit (Rider):
You can also opt for additional rider in order to safeguard and protect for your family in financial support in unfortunate events.
For detailed information on rider, please refer to the rider brochure
You may also consider:Kotak Money Back Plan
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