You are on your path to success and wouldn't want to settle for anything but the best. Life for you is about staying a step ahead and you need a plan that not only reflects your personal growth and success, but also stays with you for lifetime. Presently, you have many financial priorities, yet securing a happy future for you and your family is something you can't ignore.
How do you strike a balance between managing your present financial challenges and ensuring your family's future comfort? To help you build your foundation systematically and soundly, we at Kotak Life Insurance have crafted a distinctive insurance plan that accommodates your requirements for a comfortable today, whilst securing a bright tomorrow.
Kotak Premier Life Plan is a limited premium paying non-linked participating whole life plan designed to offer protection on your life till golden age, 99 years. In addition, it also provides option to receive bonus payouts after the expiry of premium payment term to take care of financial commitments or utilise such bonus payouts in the plan to create retirement corpus for worry-free golden years.
How Does the Plan Work?
You decide the Sum Assured on maturity and choose premium payment term basis which premium payable is determined. You pay such premium for the selected premium payment term. You also need to choose from the available Bonus options i.e. Cash Payout and Paid-Up Additions.
Under Cash Payout option, Simple Reversionary Bonus accrued during premium payment term is payable as lump sum at the end of the premium payment term. In addition, Cash Bonus (if any) is payable ever year from the expiry of premium payment term till end of the policy term or death or surrender whichever is earlier. Under Paid-Up Additions option, bonus payouts are utilized to purchase Paid-Up Additions (PUA).
At maturity, you will receive Maturity Benefit i.e. Sum Assured on maturity plus accrued Paid-Up Additions (if any) plus Cash Bonus (if any) plus Terminal Bonus (if any).
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