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| Life Insurance> Individual Insurance Plans> Savings & Investment Plans> Kotak Money Back Plan |
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Kotak Money
Back Plan |
| Overview |
| The Kotak Money Back Plan offers the key benefit of cash lump sums at periodic intervals of five years, ensuring that you are able to meet any of your financial obligations which arise from time to time. Such investment plans not only provide life cover but also entitle you to a guaranteed addition and bonus on maturity. This money back plan not only lets you enjoy regular cash flows during the policy term, but it also gets you a substantial life cover, which increases every year. |
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 The
Kotak Money Back Plan is ideal for you if... |
- You would like to receive cash lump sums at regular intervals
to plan for expenses
like children's education, purchase of an asset or to meet any
other unforeseen contingency.
- You are looking for an insurance plan which guarantee additions to your money along with a lump sum on maturity.
- You are looking for a money back scheme that offer you not just regular cash back and bonuses, but also a life cover that automatically increases each year
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| Advantages
of the Kotak Money Back Plan |
- Cash lump sums at intervals of 5 years
- Guaranteed additions
on maturity
- Death
benefit increasing
at 7% of sum assured
at the end of each year
- Earn
bonuses on the plan
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| Key Features |
 Bonus
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| The premiums paid by you, net of charges are deposited in the Accumulation Account and the bonus declared is credited to this account at the end of each financial year |
| During the term of the money back plan, returns are earned on a compounding basis accumulating to create a substantial corpus for you. This bonus will be over and above the Guaranteed Addition you receive on maturity |
 Maturity Benefit
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| This is a participating money back plan
that has been designed to offer you cash at regular intervals of
5 years. |
| The table illustrates the Survival
Benefits as a percentage of the sum assured. |
| Survival Benefit |
Payouts (percentage of sum assured) |
| |
5th yr |
10th yr |
15th yr |
20th yr |
25th yr |
15 year Plan
Survival
Benefit
Guaranteed
Addition |
25%
- |
25%
- |
50%
20% |
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20 year Plan
Survival
Benefit
Guaranteed
Addition |
20%
- |
20%
- |
20%
- |
40%
30% |
|
25 Year Plan
Survival
Benefit
Guaranteed
Addition |
15%
- |
15%
- |
15%
- |
15%
- |
40%
40% |
| * Bonus, if any is payable over and
above these benefits. |
 Increasing Death Benefit
We realize that with increasing inflation, you are concerned about the falling value of money and therefore the eroding value of your life cover. The Kotak Money Back Plan has been designed to take care of this concern of yours. |
| The insurance cover that you enjoy on the money back policy will automatically increase by 7% of sum assured at the end of each year so that your life cover can keep pace with the rate of inflation. |
| What makes this feature attractive is that while we increase your cover by 7% of sum assured each year, you are neither required to undergo any further medical tests nor does your premium commitment change. |
 Automatic Cover Maintenance
In case you miss some premium payment, the Automatic Cover Maintenance
facility ensures the policy remains in force. This facility is
available after the first three years. |
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| Other
Features of the Kotak Money Back Plan |
You
can choose from any of the following
riders.
- Kotak Term / Preferred
Term Benefit (KTB – UIN
No: 107C003V02,Form No.-C003
KPTB – UIN No: 107C013V01,
Form No-C013)
- Kotak Accidental
Death Benefit (ADB – UIN
No: 107C001V01, Form No. – C001)
- Kotak Permanent Disability
Benefit (PDB – UIN
No: 107C002V01, Form No.-C002)
- Kotak Critical Illness
Benefit (CIB – UIN
No: 107C004V02, Form No-C004)
- Kotak Life Guardian Benefit
(LGB – UIN No: 107C012V01,
Form No.-C012)
- Kotak Accidental
Disability Guardian Benefit
(ADGB – UIN No: 107C011V01,
Form No.-C011)
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| Please refer to the rider write up for details. |
| Tax
Benefits of Money Back Plans |
| Section 80C, 10(10D)
of Income Tax Act, 1961 would apply. Premiums paid
for Critical Illness Benefit qualify for a deduction
under Section 80D. Tax benefits are subject to
change in tax laws. You are advised to consult
your tax advisor for details. |
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| Insurance
is the subject matter of the solicitation.
Kotak Money Back Plan UIN: 107N003V01,
Form No. N003). This is a non-unit
linked, participating plan. Reference
Number: KLI/09-10/E-WEB/077 |
| For more details on risk factors, terms
and conditions please download the product
brochure. |
Regn. No.: 107,
Regd. Office:
Kotak Mahindra Old Mutual Life Insurance Ltd.
4th Floor, Vinay Bhavya Complex,
159 A, C.S.T. Road, Kalina,
Santacruz (East),
Mumbai - 400 098
Website: http://insurance.kotak.com
Email: lifeexpert@kotak.com.
SMS KLIFE to 5676788 Toll Free No. – 1800 209 8800 |
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