Sei sulla pagina 1di 69

Corporate Overview

About Kotak Mahindra Old Mutual Life Insurance Ltd


Kotak Mahindra Old Mutual Life Insurance Ltd is a 74:26 joint venture between Kotak
Mahindra Bank Ltd., its affiliates and Old Mutual plc. The company started operations in 2001,
and strives to offer its customers outstanding value through high customer empathy, consistent
and benchmarked service and a suite of products that leverage the combined prowess of
protection and long term savings. The company covers over 4 million lives and is one of the
fastest growing insurance companies in India.
About Kotak Mahindra Group
Established in 1985, the Kotak Mahindra group is one of India's leading financial
services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's
flagship company, received a banking license from the Reserve Bank of India (RBI). With this,
KMFL became the first non-banking finance company in India to become a bank Kotak
Mahindra Bank Limited.

The consolidated balance sheet of Kotak Mahindra group is over Rs. 1.17 lakh crore and
the consolidated net worth of the Group stands at Rs. 17,228 crore (approx US$ 2.9 billion) as on
June 30, 2013. The Group offers a wide range of financial services that encompass every sphere
of life. From commercial banking, to stock broking, mutual funds, life insurance and investment
banking, the Group caters to the diverse financial needs of individuals and the corporate sector.
The Group has a wide distribution network through branches and franchisees across India, and
international offices in London, New York, Dubai, Abu Dhabi, Mauritius and Singapore. For
more information, please visit the company's website at http://www.kotak.com.

Old Mutual
Old Mutual provides life assurance, asset management, banking and general insurance to
more than 14 million customers in Africa, the Americas, Asia and Europe. Originating in South
Africa in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges,
among others, since 1999.
In the year ended 31 December 2012, the Group reported adjusted operating profit before
tax of 1.6 billion (on an IFRS basis) and had 262 billion of funds under management from core
operations.
For further information on Old Mutual plc, please visit the corporate
website www.oldmutual.com.
- See more at: http://insur ance.kotak.com/about-us/corporateoverview.php#sthash.0dTKiG9o.dpuf

Our Vision and Mission Statement


An uncommon bond. Strengthened by a common vision.
Apart from common beliefs, values and objectives we believe in the vision of a better
tomorrow. It is this deep veneer of faith that has brought us together and fortified our bond.

The global Indian financial services brand


Our customers will enjoy the benefits of dealing with a global Indian brand that best
understands their needs and delivers customised pragmatic solutions across multiple platforms.
We will be a world-class Indian financial services group. Our technology and best practices will
be benchmarked along international lines while our understanding of customers will be uniquely
Indian. We will be more than a repository of our customers' savings. We, the group, will be a
single window to every financial service in a customer's universe.

The most preferred employer in financial services


A culture of empowerment coupled with a spirit of enterprise, attracts bright minds with an
entrepreneurial streak to join us and stay with us. Working with a home-grown, professionallymanaged company, which has partnerships with international leaders, gives our people a
perspective that is universal as well as unique.

The most trusted financial services company


We will create an ethos of trust across all our constituents. Adhering to high standards of
compliance and corporate governance will be an integral part of building trust.

Value creation
Value creation rather than size alone will be our business driver.
- See more at: http://insurance.kotak.com/about-us/vision-mission.php#sthash.BZR13SrJ.dpuf

An Introduction to Protection Plans


Securing your familys well-being is one of the most important goals of life. Insurance
Protection plans help you secure your loved ones future against lifes uncertainties. Your
untimely death can cause a major setback to your family - both emotionally as well as
financially, especially if you are the sole breadwinner. With a term life insurance policy, you can
ensure your familys financial independence, in case anything untoward happens to you. Besides,
term plans are cost-effective too, as they focus on providing only life cover and no returns.

A term life insurance policy, thus, sets you free from the worries of what will happen to
your loved ones in your absence, letting your family and you enjoy life with peace of mind.
With protection plans you can give your family:

Financial security

Emotional wellbeing

Freedom from the burden of debt

Guarantee of a life with dignity and self-respect

Protection plans we offer:


Kotak Saral Suraksha
Kotak Term/Preferred Term Plan
Kotak e-Term/e-Preferred Term

Kotak Eternal Life Plans


Compare plans

[01] Kotak Saral Suraksha


Low cost insurance
Kotak Saral Suraksha provides significant cover at a very low premium. You choose the
sum assured in this plan to ensure adequate financial cover for your family. The benefit payable
to your family in case of an unfortunate death during the policy term will be:
Policy Year

Benefit Payable

1st Policy Year

All premiums paid

2nd Policy Year onwards

Sum Assured1

Thus, your family will have the support of a financial cushion any time a mishap like
death happens.

Choice of policy term


The Kotak Saral Suraksha plan provides you an option of two policy terms. Depending
on your need, you can opt for a policy term of 5 or 10 yeaRs The insurance cover, as explained
above, will be applicable for this term. Thus you will be able to mould the plan as per your
protection requirement.

Convenient premium payment options


5

Premiums can be paid over a 5-year premium payment term or as a single premium.
These premium payment options are available for both the policy terms 5 and 10 yeaRs If you
opt for premium payment over a 5-year period, you can pay your premiums annually or halfyearly depending upon your income pattern and convenience. Based on your comfort level, you
can choose how you want to pay your premiums.
Eligibility:
Entry Age

18 55 years

Maturity Age

Minimum: 23 years
Maximum: 65 years

Policy Term

5 or 10 years

Premium Payment

Single/Annual/Half-yearly

Mode
Premium Payment Term

5 years or single payment

Premium

Premium mode

Premium Modal Factor

Annual

100%

Half-yearly

51%

Modal
Factor

Premium Payment = Premium Mode x Premium Modal


Factor
Sum Assured

Choice of:

Rs 5,000

Rs 10,000

Rs 15,000

Rs 25,000
6

Rs 50,000

Rs 75,000 or

Rs 100,000

General Exclusion
In case the life insured commits suicide within one year of the date of issue of the plan or
date of revival, the beneficiary would not receive any of the benefits outlined in the plan.

[02] Kotak e-Term/e-Preferred Term

High cover at a low cost


When you buy a pure protection plan, the plan itself provides you a high cover at low prices as
compared to other kinds of insurance plans.

Low premium for women and non-tobacco users


If you are a non-tobacco user, you get lower rates than usual. The rates are even lesser for
women. Thus, you get rewarded for your healthy lifestyle habits in this online life insurance
plan.

Quick and hassle-free buying

You can buy insurance online conveniently sitting at home through the internet. The paperwork
is minimal and the document collection happens at your home. As a result, you can efficiently
utilise your precious time than spending it on paperwork or visiting a branch.

Increase your life cover in a hassle free manner


You may get additional insurance cover at certain important stages of your life in a cost-effective
manner and without the hassle of any medical examination. Thus, increasing life cover would be
as easy as pie for you.
No medical examination
There would be no medical examination for purchase of a life cover upto 50 lacs and if the life to
be insured is upto 40 years of age. Hence, buying this plan would not involve time consuming
and tedious trips to the clinic and the buying process is a cakewalk.

Eligibility:

Entry age (as on last

18 - 65 years

birthday)
Maturity age

Maximum: 70 years

Policy Term

Minimum: 5 years

Sum Assured

Kotak e-Term:

Maximum: 30 years

Minimum: Rs.3,00,000 Maximum: Rs.24,99,999


Kotak e-Preferred Term:
Minimum: Rs.25,00,000 Maximum: Subject to
underwriting
8

Annual Premium

Minimum: Rs. 1,800

Maximum: Based on Sum Assured

[03] Kotak Term/Preferred Term

Low Cost insurance plan


Kotak Term Plan / Kotak Preferred Term Plan provides you the benefit of having a high cover at
economical prices. It also offers reduced premiums for women. Furthermore, in Kotak Preferred
Term Plan, for a sum assured of Rs 25 lakh and above, special premium rates are offered to nontobacco users. Hence, this plan provides you a good value proposition for your money.

Choice of premium payment mode


Whether you prefer a single payment mode or the regular option of premium payments over the
policy years, we have the right solutions for you. If you opt for the regular mode, you still have
the choice of annual, half-yearly, quarterly or monthly premium payment. Thus, you are offered
high level of flexibility in paying premiums the way you choose.

Plan conversion option


For enhanced protection, there is an option of converting your Kotak Term Plan / Kotak
Preferred Term Plan policy to a policy of any other plan* offered by Kotak Life Insurance
(except for term plans). So long as there are at least 5 years remaining before the cover ceases,
you can avail this option. Thus, with your changing needs you can actually convert your plan
into a different one that better suits your needs.
*Subject to the product specific conditions

Additional protection
In case you have selected the regular premium payment option, you can enhance your protection
with the following rider plans if they do not exceed 30% the premium (except for Kotak Critical
Illness Benefit) for your Kotak Term Plan / Kotak Preferred Term Plan policy.
Rider Plan

Benefits Payable

Kotak Critical Illness

Portion of the basic sum assured paid in advance on admission

Benefit (CIB)

of a critical illness claim

Kotak Accidental Death

Lump sum benefit paid upon accidental death

Benefit
Kotak Permanent

Payout in installments upon admission of claim of disability

Disability Benefit
Additional premiums apply with these rider plans. Please refer to the rider brochure for
more details or Contact a Kotak Life Advisor.

Eligibility:

Entry Age

18 65 years

10

Maturity Age

Maximum: 70 years

Policy Term

Minimum: 5 years

Premium Payment Mode

Single premium payment

Maximum: 30 years

OR
Annual/Half-yearly/Quarterly/Monthly
General Exclusion
In case the life insured commits suicide within one year of the date of issue of the plan or date of
revival, the beneficiary would not receive any of the benefits outlined in the plan.

[04] Kotak Eternal Life Plans

Cash rewards on survival to the end of premium paying term


Bonuses accumulated in your account are paid at the end of the premium paying term. With that
money, you can probably fund an interim expenditure of your life. For example sponsoring
higher education of your children.

Life insurance benefits which last a lifetime


Whether its during the premium payment period or till 99 years of age, we help lessen the
financial burden your family could face in the unfortunate event of a demise by offering the sum
assured and applicable bonuses to the nominees. Thus, we ensure your family stays financially
secure at all times through this whole life insurance plan.

11

Cash lump sum at 99 years of age in the form of additional bonuses


On achieving the age of 99, the company pays you a guaranteed* sum assured plus all applicable
bonuses. We ensure that even at the age of 99, you have enough to leave behind a legacy for your
family.

Plan options that best suit your needs


Choose between two unique variants to take care of all your lifes needs:

Eternal Life Premier Shield


The Eternal Life Premier Shield plan gives you comprehensive whole life insurance coverage till
the age of 99 with premiums that match your income and lifestyle. This means that in the initial
years you pay lower premiums as the need for life cover is not very high at that time and with the
rise

in

your

earnings

and

standard

of

living,

your

premiums

keeps

pace.

Eternal Life Classic Shield


Offering comprehensive whole life insurance coverage till the age of 99, the Eternal Life Classic
Shield plan features premiums that dont increase, unlike the Eternal Life Premier Shield plan. In
addition, it also has flexible premium payment terms to suit your specific requirements.
*Applicable where all premiums have been paid in full and as scheduled as at date of benefit
claim, and where the policy has not been made paid-up
Eligibility:

12

Premium Payment Term

15 years
Minimum amount
Annual: Rs. 10,000
Maximum amount
No limit
Maximum Age at which premium payment
ceases
75 years

Entry Age for Life to be Insured

Min 0 years, Max 65 years

Regular Term of the Policy

(99 Entry Age) years

Maturity Age

99 years

Maximum Age at Which Premium

75 years

Payment Ceases
Premium Payment Term

Min: 10 years / Greater of (10, 18 minus the entry


age) (for minor)
Max: Lesser of (75 minus age at entry, 40)

Min. Premium Regular

For 10 to - 14 years payment term:

Annual: Rs 10,000

Half-yearly: Rs 5100

Quarterly: Rs 2600

Monthly: Rs 850

13

For 15+ years Payment Term

Annual: Rs 6000

Half-yearly: Rs 3060

Quarterly: Rs 1560

Monthly: Rs 510

[05] Kotak Assured Protection Plan

Comprehensive protection
Plan offers cover on:

Death (due to natural causes)

Accidental Death

Critical Illness

Accidental Disability (waiver of premium)

Option to pay premiums for a limited term


With this plan, you have the option for paying premiums until the age of 60 yrs or for fixed term
of 15 years. You have the flexibility to choose any one of the option suiting your need.

14

Payout on maturity
In addition to protection cover, on maturity of the plan full Sum Assured is paid out

Eligibility:

Entry Age

Min: 18 years, Max: 50 years

Maturity Age

Fixed: 75 years

Policy Term

Maturity Age minus Entry Age

Basic Sum Assured

Min: 3 lakhs
Max: 25 lakhs (subject to underwriting)

Premium Payment Term

Option I: Upto the policy anniversary after attainment of age 60


Option II: 15 years

Premium Payment Mode

Yearly, Half yearly, Quarterly, Monthly

Premium

Min: Rs. 5,000 p.a.


Max: Based on maximum Sum Assured

Premium Modal Factor

Yearly - 100% ,

15

Half yearly - 51% ,


Quarterly - 26% ,
Monthly - 8.8%

Child Plan
[01] Kotak Child Advantage Plan

Receive what you have invested and more


With the Kotak Child Advantage Plan, you can be assured that your money continues to grow
with compounding bonuses, year after year.

Waiver of premium facility


Should you no longer be around to provide for your children, we will help ease their financial
burden by waiving all future premium payments. All you need to do is opt for added life
insurance protection via the Life Guardian Benefit or Accidental Disability Guardian Benefit
rider plans, giving your children the corpus needed for their education or marriage through the
maturity benefit.

16

Additional protection
Enhance your protection with these rider plans:
Rider Plan

Benefits Payable

Kotak Life Guardian Benefit

Waiver of premiums upon death and all future premiums

(LGB)

will be paid by Kotak Life Insurance

Kotak Accidental Disability

Waiver of premiums upon disability and all future

Guardian Benefit (ADGB)

premiums will be paid by Kotak Life Insurance

Eligibility:

Entry Age of Child

0 to 17 years

Policy Term

Minimum: 10 years
Maximum: 30 years

Premium Payment Mode

Annual / half-yearly / quarterly / monthly

Premium Payment Term

Regular
Payment applies throughout policy term
Minimum Payment
Annual: Rs 4,000

Basic Sum Assured

Maximum Sum Assured


Rs 2,500,000

General Exclusions

17

In case the life insured commits suicide within one year of the plan, no benefits outlined in the
plan will be payable.

[02] Kotak Headstart Child Assure

Receive a planned corpus at maturity


Your regular investments made with this plan will provide you with a planned corpus upon the
maturity of the plan, ensuring that the cost of education will never be a deterrent to fulfilling
your childrens dreams.

Secure the well-being of your family through triple protection


In the unfortunate event of a parents death, Kotak Life Insurance helps lessen the financial
burden the child might face by providing the benefit of triple protection as follows:
Your beneficiary is paid the life cover amount immediately to compensate for immediate loss of
income.
All future premiums of this insurance policy will be waived and fully paid for by Kotak Life
18

Insurance.
Your beneficiary will receive the fund value of the insurance policy.

Build the maturity amount as per your risk return preference


Our range of eight funds is suitable for all types of investors, aggressive or safe. Invest in the
fund option most suited for your risk-returns preference to build a corpus in a way you deem fit.
Whichever the fund you choose, you can be rest assured that it is managed by our team of highly
qualified fund managers..

Flexible premium payment period


To ensure that a long term payment obligation does not hamper you from planning your finances,
we offer you the following payment methods:
5-year premium payment period for a policy term of 10 years, or
10-year premium payment period for policy terms of 15 to 25 years.

In addition, with the option to pay annually, half-yearly, quarterly or monthly, this could be an
apt child plan for your children and you.

Additional protection
Opt for additional riders to safeguard your family from eventualities like a critical illness, an
accidental death, disability and permanent disability. These riders will ensure that your children
are

well-protected

from

financial

consequences

to

give

you

peace

of

mind.

Additional premiums apply with these rider plans. Please contact a Kotak Life Advisor to find
out more.

Eligibility:

19

Entry Age of Child

18 to 60 years

Policy Term

10, 15 and 25 years

Premium Payment Mode

Annual/half-yearly/quarterly/monthly

Premium Payment Term

Regular
Payment applies throughout policy term.
Minimum: Rs 20,000 p.a.
Limited premium payment
Policy term of 5 years - Minimum: Rs 50,000 p.a.
Policy term of 10 years - Minimum: Rs 20,000 p.a.

Basic Sum Assured

Maximum Sum Assured


25 x annual premium

General Exclusions
In case the life insured commits suicide within one year of date of issue of the policy, the
beneficiary will still receive the fund value.

[03] Kotak Child Edu Plan

Financial support for childs education at various milestones


Kotak Child Edu Plan provides financial support to the child to pursue his/her education without
any worries by paying a guaranteed* amount equal to 125% of the basic sum assured. Edu
Boosters will be paid at important milestones in the life of the child as described below:
The above benefits shall be payable even in case of the parent's untimely demise, to ensure
financial independence of the child.

Hence, there is no paucity of money at various stages of the childs education requirements.
Edu Booster
Policy Anniversary After the Childs

% of Basic Sum Assured


20

Birthday
15 years

15%

17 years

20%

19 years

30%

21 years

60%

Total Payout

125%

Bonus payouts at maturity


To ensure that your savings for your child earn returns, we pay out applicable bonuses to you at
maturity, in addition to the last Edu Booster.

Comprehensive protection of life cover


In the event of the life insureds unfortunate demise, this plan will support the child with the
following benefits:

200% of sum assured paid immediately

No obligation to pay future premium payments and policy continues as originally


scheduled.

The Edu Boosters will be paid as scheduled.

All applicable bonuses will also be paid at maturity.

The life cover is designed in such a way to ensure that even after demise, the child gets all the
benefits as intended. This will ensure that demise can never come in the way of your childrens
future.

Enhanced protection from an accidental disability


In the event of an accidental disability, your childs education need not suffer. Hence, we provide
you the following benefits:

21

Future premium payment obligation ceases and policy continues as planned

The Edu Booster will be paid as scheduled

The applicable bonuses will be paid at maturity

Discount on higher cover choice


We understand the importance of adequate protection. Hence, individuals who opt for basic sum
assured of Rs 5,00,000 and above are provided a premium discount of Rs 2 per Rs 1000 basic
sum

assured.

Eligibility:
Life Insured

Generally parent/grandparent of the child (or

(Same as Policyholder)

other suitable relative)

Entry Age

Minimum: Child - 0 years, Life Insured: 18


years
Maximum: Child - 10 years, Life Insured : 64
years

Maturity Age

Minimum: Child - 21 years, Life Insured: 29


years
Maximum: Child - 21 years, Life Insured: 75
years

Policy Term

21 years less entry age of child


22

Minimum: 11 years
Maximum: 21 years
Premium Payment Term

17 years less entry age of child

Sum Assured

Minimum: Rs 2,00,000, Maximum: No limit

Premium

Based on sum assured

Premium Modal Factor

Yearly - 100%
Half yearly - 51%
Quarterly - 26%
Monthly - 8.8%

General Exclusions
In the event of the life insured committing suicide within one year of the date of issue of the
policy, no benefit will be paid. In case of suicide within one year of the date of revival of the
policy, Surrender Value as on date of claim event will be payable.

[04] Kotak Child Future Plan

Financial support through Future Boosters


Kotak Child Future Plan provides financial support to your child to pursue his/her career without
any worries. Future Boosters will be paid on the policy anniversary after the child attains certain
milestone ages, as described below:

Future Booster
Age of Child

% of Basic Sum Assured

After Childs 23rd Birthday

15%
23

After Childs 25th Birthday

110%

Total Payout

125%

The above benefits shall be payable even in case of life insured's accidental disability or
untimely demise.
This will ensure that the child is well supported at the crucial junctures where he is starting off
his career.

Bonus payouts
At the end of the policy term, the applicable bonuses accrued till the end of the policy term will
be payable in addition to the last Future Booster. Thus, in addition to providing life insurance, it
offers returns on the savings for your child.

A Comprehensive Life Cover


In the event of life insureds unfortunate demise, this plan will support the child with the
following benefits:

200% of sum assured paid immediately

No obligation to pay future premium payments and policy continues as originally


scheduled.

The Future Boosters will be paid as scheduled.

All applicable bonuses (if any) will also be paid at maturity.

The life cover is designed in such a way to ensure that even after demise, the child gets all the
benefits as intended. This will ensure that demise can never come in the way of your childrens
future.
Certainty of benefits even in case of an accidental disability
24

In case the life insured meets with an accidental disability, the following benefits is provided:

No obligation to pay future premium payments and policy continues as originally


scheduled.

The Future Boosters will be paid as scheduled.

All applicable bonuses will also be paid at maturity.

Enhanced protection through optional riders


You can enhance the protection for your family by taking additional riders which provide
financial support in unfortunate events like accidental death and permanent disability. For
detailed information on riders please refer to Individual Rider brochure.

Discount at higher levels of protection


A high sum assured discount of Rs 2 per 1000. The sum assured will be offered to policies with
sums assured larger than or equal to Rs 5,00,000. Thus, providing you with cost-effective rates
for enhanced protection.

This plan can be purchased by the Parent / Grand Parent of the child or individuals who want to
protect the child's future e.g. Child's uncle / aunt etc.
Eligibility:
Life Insured

Generally Parent/ Grandparent of the child (or

(same as Policyholder)

other suitable relative)

Entry Age

Minimum : Child - 11 years Life Insured: 18


years
Maximum : Child - 15 years Life Insured : 64
years
25

Maturity Age

Minimum : Child - 25 years Life Insured: 28


years
Maximum : Child - 25 years Life Insured: 75
years

Policy Term

25 years less entry age of child


Minimum : 10 years
Maximum: 14 years

Premium Payment Term

10 years (Fixed)

Sum Assured

Min: Rs. 2,00,000, Max: No Limit

Premium

Based on Sum Assured

Premium Modal Factor

Yearly - 100% , Half yearly - 51% , Quarterly 26% , Monthly - 8.8%

General Exclusions
In the event of the life insured committing suicide within one year of the date of issue of the
policy, no benefit will be paid. In case of suicide within one year of the date of revival of the
policy, Surrender Value as on date of claim event will be payable.

Retirement Plan
[01] Kotak Capital Multiplier Plan
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.

26

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 familys 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-onyear. 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

27

You can also opt for additional riders in order to safeguard yourself from eventualities like a
critical illness, an accidental death, disability and permanent disability. These riders fortify your
overall protection and ensure that you have peace of mind.

Eligibility:
Entry age

Min. 18 years, Max. 60 years

Term

Min. 5 years, Max. 30 years

Maturity Age

Min. 23 years, Max. 65 years

Regular Premium (including policy


fees)

Min: Rs 10,000 annually


Rs 5115 half-yearly
Rs 2620 quarterly
Rs 860 monthly

Lump Sum Injections

Min - Rs 10,000 per payment subject to applicable


limits
Max - 25% of basic sum assured during policy year

General Exclusion
In case the life insured commits suicide during the first year of the plan, the beneficiary would
not receive any of the benefits (except the amount in the Supplementary Accumulation Account,
if any) outlined in the plan.

[02] Kotak Lifetime Income Plan

Ensures financial independence post retirement


Provides regular payouts to meet your post-retirement financial needs

Offers a wide range of income options suiting different retirement needs


Plan has four annuity options to suit various customer needs. You can choose the option that suits
you best.

28

Allows a range of annuity payout frequencies


Monthly, quarterly, half-yearly and yearly income payment modes are offered to suit your
financial needs

Eligibility:

Single Premium (retirement fund)

Min: Rs. 50,000/Max: No Limit

Entry Age (as on last birth date)

Min: 45 years
Max:99 years

Spouse Entry Age* (as on last birth date)

Min: 35 years
Max: 99 years

*For Last Survivor Lifetime Income Option only

Saving & Investment Plan


IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS
BORNE BY THE POLICYHOLDER.

The value of your hard-earned money is best understood by you. The most important
requirement is ensuring that the money is put in right use for it to provide benefit to you and your
family in the long run. Prudent investment may not always turn out to be a good investment, as
no one can predict future. Intelligent investment of your hard-earned money can go a long way in
ensuring a bright future for you and your family.

29

Kotak Life Insurance brings to you Kotak Single Invest Plus, a hassle-free unit linked plan,
where you invest once and reap the benefits throughout the policy term and at the same time stay
protected. Coupled with easy liquidity and a wide array of funds we ensure that your investment
works for you and not vice versa.

[01] Convenience of onetime payment - Single Premium

Being a single premium plan, there is no obligation of future payments, so just sit back and
relax!

30

Maximizes your investment value


With no premium allocation charge, most of your premium will get invested giving you the
opportunity for enjoying superior returns. Other charges will be duly applicable.
Joint Life cover - Provides cover on both the lives
Covers two lives under the same plan. Provides benefit on the unfortunate event of first death
and thereafter also continues cover on the surviving life for any further uncertainties.
Advantage of Loyalty Additions

Plan provides Loyalty Additions at the end of 10th year for a policy of 10 year term and at the
end of 10th & 15th year for a Policy of 15 year term. The Loyalty Addition is calculated as
percentage of the average value of Funds in the Main Account in the three years preceding the
benefit payment.

Premium Payment

Loyalty Addition

Rs 30,000 to Rs 49,999

Nil

Rs 50,000 to Rs 1,99,999

2.25%

Rs 2,00,000 & above

3.00%

Option to invest in a wide array of funds

31

The plan offers 6 fund options to choose from suiting your risk appetite and investment
objective.

Eligibility:

Entry Age

Primary Life
Min: 18 yrs

Maturity Age

Secondary Life
Max: 60 yrs

Primary Life
Min: 28 yrs

Min: 3* yrs

Max: 60 yrs

Secondary Life
Max: 75 yrs

Min: 13 yrs

Policy Term

10 or 15 years

Premium Payment Options

Single Premium

Single Premium

Min - Rs. 30,000 / Max - No limit

Life Cover

1st Death :

Max: 75 yrs

1.25 times of the Single Premium paid


2nd Death:
10 times of the Single Premium
* For age 3 to 7 years, underwriting screening will apply.

[02] Kotak Assured Income Plan

Guaranteed second income for 20 years

32

Enjoy a constant stream of payouts from the 11th policy year onwards, for a total of 20 years.

Additional lump sum benefit


In addition to guaranteeing you a regular stream of income for 20 years, Kotak Assured Income
Plan provides you a lump sum cash payout equal to 110% to 104% of the life cover amount
(basic sum assured) on maturity depending upon life assureds age. Now, the long-awaited family
vacation or the new home youve always wanted to own might just become a reality.

Protection for your family even beyond the premium payment term
While you pay your premiums for 15 years, you will receive a life cover for 30 years, ensuring
your family stays protected for a longer time.

33

Additional protection
Enhance your protection with these rider plans:
Rider Plan

Benefits Ppayable

Kotak Accidental Death Benefit

Lump sum benefit payable in the event of accidental death

(ADB)
Kotak Permanent Disability Benefit Payout in installments upon a disability claim
(PDB)
Kotak Life Guardian Benefit

Waiver of premiums upon death and all future premiums to

(LGB)

be paid by Kotak Life Insurance

Kotak Accidental Disability

Waiver of premiums upon disability and all future

Guardian Benefit (ADGB)

premiums to be paid by Kotak Life Insurance

Additional premiums apply with these rider plans. Contact a Kotak Life Advisor for more.
*Guarantee is applicable provided all premiums have been paid and the policy is in force

34

Eligibility:
Entry Age

0 to 60 years

Maturity Age

Minimum: 30 years
Maximum: 90 years

Policy Term

30 years

Premium Payment Term

15 years

Premium Payment Mode

Annual / Half-yearly / Quarterly / Monthly

Premium

Minimum amount
Annual : Rs. 10,000
Maximum amount
Subject to underwritings

Premium Payment

Premium mode

Premium modal factor

Annual

100%

Half-yearly

51%

Quarterly

26%

Monthly

8.8%

Premium payment = Premium mode x Premium modal factor

35

General Exclusions
In the event of the life insured committing suicide within one year of the date of issue of the
policy, no benefit will be paid. In case of suicide within one year of the date of revival of the
policy, the basic sum assured will not be payable and only Guaranteed Surrender Value as on
date of claim event will be payable

[03] Kotak Platinum

Choice of funds that best suited your needs


You can choose to spread your investment across a range of 8 fund options ranging from cautious
to aggressive funds.

36

This way you get an exhaustive list of options to diversify your wealth and you dont need to
look for any other investment avenue.
Need to switch to a plan with lower risk or one that brings higher returns? Dont worry, as youll
have 12 free switches in a policy year for greater control over your investment.

Minimum charges, maximum earnings

37

With Kotak Platinums low charges, we ensure that 95% to 98.5% of your premium payment
goes straight to the investment you have picked, to maximise your returns.

Keep earning with additional loyalty bonuses

On top of the earnings your investment brings, be rewarded with extra bonus at the end of 10th
policy year and every 5 years thereafter.Thus, the longer you stay with us, the more you get out
of your investment.

Flexible payment period

If a longer payment period doesnt suit your needs, you can always opt for a shorter one. Choose
either a:

5-year premium payment period for a policy term of 10 years, or

10-year premium payment period for policy terms of 15 to 30 years

Whats more, you also have the option to pay annually, half-yearly, quarterly or monthly giving
you even greater flexibility in the way you invest.

Other advantages

Option for partial withdrawals and policy loan

Flexibility to receive maturity benefit via lump sum payment or in installments

Life insurance cover that safeguards your familys well-being

38

Eligibility:

Entry Age

0 to 65 years

Maturity Age

18 to 75 years

Policy Term

10 to 30 years
The minimum policy term for minors is 10 or 18 years minus age last birthday
of the life insured on the date of commencement, whichever is greater.

Premium

Annual/half-yearly/quarterly/monthly

Payment Mode
Premium
Payment Term

Regular
Payment applies throughout policy term.

Limited
5-year payment with policy term of 10 years 10-year payment with policy
term of 15 30 yeaRs

Premium

Minimum
Annual: Rs 99,000
Half-yearly: Rs 49,500
Quarterly: Rs 24,750
39

Monthly: Rs 8,250
Max : No Limit
Basic Sum
Assured

Minimum sum assured

Min : Higher of 10 x annualised premium

Entry age of below 45

OR
0.5 x policy term x annualised premium

Entry age of 45 and above

Higher of 7 x annualised premium


OR
0.25 x policy term x annualised premium

Maximum sum assured is 25 x annualised premium.


Top-Up
Premium

Minimum payment
Rs 10,000
Maximum payment
10 x annualised premium (aggregate of all Top-Up premiums)

Top-Up Sum
Assured

Top-Up at ages below 45 years


Top-Up Sum Assured : 1.25 x Top-Up premium.
Top-Up at ages 45 years and above
Top-Up Sum Assured : 1.10 x Top-Up premium.

40

General Exclusions
In case the life insured commits suicide within one year of date of issue of the policy, the
beneficiary will receive the Fund Value in the Main and the Top-Up Account.

[04] Kotak Single Invest Advantage

One-time payment, a lifetime of benefits

Kotak Life Insurance enables you to make the most of your cash surplus in this one-time
investment plan. So now you can gain the benefits of a long-term savings plan, without being
tied down financially by regular premium payments. Whats more, youll have added life
insurance coverage while you sit back and earn.

Get rewarded for staying invested for a longer time

41

Unit-linked insurance plans (ULIP) plans work best when they are taken with a long-term view
in mind. And to top it all we reward you for staying invested with Kotak Life Insurance for a
longer tenure by providing loyalty additions in your Fund Value. Receive an additional bonus
right after your 10th policy year and once again at the end of the 15th policy year. This way you
will be benefited for the healthy investment behavior of staying invested for a longer duration.
You will be receiving the loyalty additions as follows:
Annual Premium

Loyalty Addition (% of Average Fund Value in Main Account in the

Payment

Preceding 3 Years)

Rs 50,000 to 199,999

2.25%

Rs 2,00,000 & above

3.00%

A truly customised fund portfolio for your needs

Whether you manage your portfolio actively or leave things to our investment experts, we offer
you a choice of six funds ranging from safe-low return funds to high-returns options though with
potentially higher risks. Divide your money between these funds in whichever way you like or
switch your money from one fund to another, giving you extreme flexibility of investment.
Find the most suitable fund(s) available with this single premium policy by using the risk-returns

42

table

right

below

or contact

Kotak

Life

Advisor to

find

out

more.

One good way to protect the well-being of your loved ones

43

This single premium policy comes with a comprehensive life cover. This ensures that in the case
of an unfortunate demise of the life insured, the family is well provided for and will not need to
suffer financially.
Eligibility:
Entry Age*

3 to 65 years

Maturity Age

18 to 75 years

Policy Term

Option of 10 or 15 years

Premium Payment Mode

Single premium payment

Premium Payment Amount

Single premium
Minimum payment
Rs 30,000
Maximum payment
No limit
Top-up premium Minimum payment
Rs 10,000
Maximum payment
5 x Single premium (aggregate of all top-ups)

Basic Sum Assured

Option 1
Basic sum assured = 5 x Single premium
Option 2
Basic sum assured = 1.25 x Single premium

Top-Up Sum Assured

Top-up at ages below 45 years


Top-Up Sum Assured: 1.25 x Top-Up premium.
Top-up at ages 45 years and above
Top-Up Sum Assured: of 1.10 x Top-Up premium.

General Exclusions
44

In case the life insured commits suicide within one year of date of issue of the policy, the
beneficiary will receive the Fund Value in the Main and the Top-Up Account.

In case the life insured commits suicide within one year of date of payment of Top-Up
Premium, the Top-Up Sum Assured is not payable and only the Fund Value in the Top-Up
Accounts is payable.

[05] Kotak Ace Investment Plan

Choose from 8 fund options in this unit-linked insurance plan

Many investment options offer just one avenue where you can invest your money in. It could be
an aggressive fund purely based on equity market or a safe bond fund with lower returns. But a
single avenue is never enough to get the most out of your investments. Hence, we offer you a
choice

of

eight

different

funds

based

on

your

investment

preferences.

So whether you manage your portfolio actively or leave things to our investment experts, youll
find a suitable fund from our range of funds catering to different risk profiles.

45

Switch between funds when you need

46

We understand that even after youve picked the most suitable investment to start on, economic
fluctuations can occur during the policy period. There are times when equity markets are in
upswing and can offer you very good returns for your money, as well as periods where you need
to park your money in lower-risk investment options such as bonds. Thats exactly the reason
why we give you the option to switch between funds - to get the best out of your money.

An insurance policy that provides easy access to investment

Need cash for an unexpected life event? Kotak Ace Investment Plan lets you:

Make partial withdrawals after the 5th policy year

Loan up to 40% of the Fund Value in your Main and Top-Up Account after 2 years of
premium payment

Receive the full Fund Value in a lump sum or periodic payouts after maturity. Thus, in the
event of financial contingencies, your money is easily accessible and not locked away in a
savings plan.

Protection for your loved ones


Kotak Ace Investment Plan comes with a comprehensive life insurance cover, which ensures that
an unfortunate death of the life insured does not put your family in a financial distress.

Flexible premium payment period

47

If a longer payment period doesnt suit your needs, opt for a shorter one. Choose either a:

5-year premium payment period for a policy term of 10 years, or

10-year premium payment period for policy terms of 15, 20, 25 and 30 years

Whats more, you also have the option to pay annually, half-yearly, quarterly or monthly giving
you additional flexibility.

Other advantages

Invest surplus funds as top-up premiums

Enhance protection with optional rider plans

Additional protection
Enhance your protection with these rider plans:
Rider Plan

Benefits Payable

Kotak Term Benefit(KTB) / Kotak

Lump sum benefit payable in the event of death

Preferred Term Benefit (KPTB)


Kotak Critical Illness Benefit (CIB)

Lump sum benefit payable upon admission of a


critical illness claim

Kotak Accidental Death Benefit

Lump sum benefit paid upon accidental death

Kotak Permanent Disability Benefit

Payout in installments upon a disability claim

Kotak Life Guardian Benefit

Waiver of premiums upon death and all future

48

premiums to be paid by Kotak Life Insurance


Kotak Accidental Disability Guardian

Waiver of premiums upon disability and all future

Benefit

premiums to be paid by Kotak Life Insurance

Eligibility:

Entry Age*

0 to 65 years

Maturity Age

18 to 75 years

Policy Term

Option of 10/15/20/25/30 years

Premium Payment Annual/half-yearly/quarterly/monthly


Mode
Premium Payment
Regular
Term
Payment applies throughout policy term
Limited
5-year payment with policy term of 10 years
10-years payment with policy term of 15/20/25/30 years
Minimum payment
Premium Amount
Regular Premium:
Annual: Rs 30,000
Half-yearly: Rs 18,000
Quarterly: Rs 9,000
Monthly: Rs 3,000
Limited Premium Amount:
Annual: Rs 50,000
49

Half-yearly: Rs 30,000
Quarterly: Rs 15,000
Monthly: Rs 5,000
Max: No Limit
Basic Sum Assured Minimum sum
Higher of 10 x annual premium OR 0.5 x policy
assured
term x annual premium
Entry age of below
45
Entry age of 45 and Higher of 7 x annual premium OR 0.25 x policy
above
term x annual premium
Maximum sum assured is 25 x annual premium.
Top-Up Premium

Minimum payment
Rs 10,000
Maximum payment 10 x annual premium (aggregate of all Top-Up
premiums)

Top-Up Sum
Assured

Top-up at ages below 45 years


Top-Up Sum Assured: 1.25 x Top-Up premium.
Top-up at ages 45 years and above Top-Up Sum Assured: 1.10 x Top-Up
premium.

General Exclusions

In case the life insured commits suicide within one year of date of issue of the policy, the
beneficiary will receive the Fund Value in the Main and the Top-Up Account.

50

In case the life insured commits suicide within one year of date of payment of Top-Up
Premium, the Top-Up Sum assured is not payable and only the Fund Value in the Top-Up
Accounts is payable.

[06] Kotak Wealth Insurance

Accumulate wealth through a disciplined investment approach


At maturity, you will receive a corpus of money accumulated through returns earned via
investing in the funds of your choice. All the funds offered under this unit-linked insurance plan
are managed by our well qualified and experienced experts. You might use this corpus to take
care of a large expense like buying a car or a marriage.

Secure the well-being of your family through triple protection


In the unfortunate event of death (where the policyholder and the life assured are the same),
Kotak Life Insurance helps lessen the financial burden your family might face by providing the
benefit of triple protection as follows:

Your beneficiary is paid 100% of the basic sum assured immediately to compensate for
immediate loss of income.

Fund Value in Main Account Plus

51

Lump Sum Benefit

In this way your family gets an immediate financial relief and they don't feel financially
insecure.

Customised fund portfolio for your risk-returns profile


Under this investment plan, you can invest your money in a variety of fund options suited for all
types of investors, ranging from cautious to aggressive. Whats more, you can divide your money
between different funds or even switch from one fund to another for added investment
flexibility.
Whether you manage your portfolio actively or leave things to our investment experts, youll
find a suitable fund from our range of funds catering to different risk profiles.

52

Easy access to investment


Need cash for an unexpected life event? Kotak Wealth Insurance allows you to:

53

Make partial withdrawals after the 5th policy year.

Loan up to 40% of the Fund Value in your main and Top-Up account after 2 years of
premium payment.

Option of shorter term payment


If a longer payment period doesnt suit your needs, you can always opt for a shorter one. Enjoy
all the benefits of a 10-year plan and have the convenience of a 5-year premium payment period.

Other advantages

Switch between funds for better flexibility.

Invest surplus capital in this investment plan as Top-Up Premiums.

Additional protection
You may also enhance protection for your family with these rider plans:
Rider Plan

Benefits Payable

Kotak Critical Illness Benefit

Lump sum benefit payable upon a critical illness declaration

(CIB)
Kotak Accidental Death Benefit Lump sum benefit paid upon accidental death
Kotak Accidental Disability

Waiver of premiums upon disability and all future premiums to

Guardian Benefit

be paid by Kotak Life Insurance

Additional premiums apply with these rider plans contact a Kotak Life Advisor to find out more.

Eligibility:

54

Entry Age

Life Assured: 0 to 65 years


Policyholder: 18 to 65 years

Maximum Maturity Age

75 years

Policy Term

Option of 10/15/20/25/30 years

Premium Payment
Mode

Annual

Premium Payment
Term

Regular
Payment applies throughout policy term
Limited
5 years payment with policy term of 10 years

Premium Amount

Regular Premium: Rs .20,000/Limited Premium: Rs. 50,000/-

Basic Sum Assured

Minimum sum assured


Entry age of below 45

Higher of
10 x annual premium
OR
0.5 x policy term x annual premium

Entry age of 45 and


above

Higher of
7 x annual premium
OR
0.25 x policy term x annual
premium

Maximum sum assured is 25 x annual premium.


Top-Up Premium

Minimum payment
Rs 10,000
Maximum payment
10 x annual premium (aggregate of all Top-Up premiums)

55

Top-Up Sum Assured

Top-Up at ages below 45 years


Assured Top-Up sum of 1.25 x Top-Up premium.
Top-Up at ages 45 years and above
Assured Top-Up sum of 1.10 x Top-Up premium.

General Exclusion
In case the life insured commits suicide within one year of date of issue of the policy, the
beneficiary would receive the Fund Value in the Main and the Top-Up Accounts. In case the life
insured commits suicide within one year of date of payment of Top-Up Premium, the Top-Up
Sum Assured is not payable and only the Fund Value in the Top-Up Accounts is payable.

[07] Kotak Endowment Plan

Save and earn more


Not only can Kotak Endowment Plan help you in the objective of long-term savings, youll also
get to accumulate bonus earnings on the premiums paid by you. This ensures while you work
hard to earn a living, your money works equally hard in earning returns.

Dual benefits of life insurance and investment


You can have the best of both worlds with this savings plan. It provides you life insurance
coverage to secure your family from an unfortunate demise of the life insured. At the same time,
it ensures that you get your premiums back along with returns upon plan maturity.

Flexible payment period


Since future cash flows can be uncertain, you can always opt to complete your premium
payments over smaller durations such as 3, 5, 7, 10 or 15 years yet enjoy the full plan benefits

56

for the entire policy term. Hence, this savings plan can be really flexible depending on your
needs.

Additional protection
Enhance your protection with these rider plans:
Rider Plan

Benefits Payable

Kotak Critical Illness Benefit (CIB)

Lump sum benefit payable upon admission of a critical


illness claim

Kotak Accidental Death Benefit

Lump sum benefit paid upon accidental death

Kotak Permanent Disability Benefit

Payout in installments upon a disability claim

Kotak Life Guardian Benefit

Waiver of premiums upon death and all future


premiums to be paid by Kotak Life Insurance

Kotak Term Benefit(KTB) / Kotak

Lump sum benefit payable in the event of death

Preferred Term Benefit (KPTB)


Kotak Accidental Disability

Waiver of the insurance plan premiums upon disability

Guardian Benefit

and all future premiums to be paid by Kotak Life


Insurance

Additional premiums apply with these rider plans. Please contact a Kotak Life Advisor to find
out more.

57

Eligibility:

Entry Age

18 to 65 years

Maturity Age

Maximum 75 years

Policy Term

10 to 30 years

Premium Payment Mode

Annual /half-yearly/quarterly/monthly

Premium Payment Term

Regular
Payment applies throughout policy term
Minimum payment
Yearly: Rs 4000
Half-yearly: Rs 2055
Quarterly: Rs 1060
Monthly: Rs 350

58

General Exclusion
In case the life insured commits suicide during the first year of the plan, the beneficiary will not
receive

any

of

the

benefits

outlined

in

this

plan.

[08] Kotak Money Back Plan

Receive payouts once every 5 years

This life insurance plan gives you a lump sum payout once every 5 years and enables you to take
care of your planned as well as unexpected financial situations.

Earn bonuses with this money back plan


Bonus may be declared by the company at the end of each financial year and is added to your
account, hence ensuring that the premiums deposited by you earn satisfactory returns.

Guaranteed* addition upon maturity


Regardless of your policy term, earn guaranteed additions at the end of 15th, 20th and 25th year
provided policy is in force.
Plan Period

Guaranteed Addition

59

15 years

20% of sum assured at the end of 15 years

20 years

30% of sum assured at the end of 20 years

25 years

40% of sum assured at the end of 30 years

Life insurance benefits that keep increasing


With the rising standard of living and inflation rates, it is important that your life cover also
increases accordingly to provide your family with adequate financial protection should anything
untoward happen to you.

*provided policy is in force

Eligibility:

Entry Age

18 to 60 years

Maturity Age

Maximum
75 years

Policy Term

Option of 15/20/25 years

Premium Payment Mode

Annual/half-yearly/quarterly/monthly

Premium Payment Term

Minimum payment excluding policy fee


Annual: Rs 4,000
Half-yearly: Rs 2,055
60

Quarterly: Rs 1,060
Monthly: Rs 340

General Exclusion
In case the life insured commits suicide within one year of the commencement of the plan, no
benefits

outlined

in

the

plan

would

be

payable.

[09] Kotak Premium Return Plan

Return of premiums upon maturity


Upon plan maturity, you'll be guaranteed (Provided policy is in force) the full return of your
investment - that is, the premium payments made throughout the policy term. This amount could
be even higher depending on the policy term you've chosen.

Twin benefits of risk cover and savings


Protect your family from the threat of loss of income due to an untimely death as well as fulfill
your financial goals through a disciplined savings approach in this plan. These twin benefits offer
you a comprehensive all-round protection.

Hassle-free sign-up and plan management

61

All it takes is a simple application procedure, with no medical tests plus the convenience of
automatic premium debit. The Kotak Premium Return Plan is certainly a life insurance plan that
requires little management.

Eligibility:

Entry Age

18 to 50 years

Maturity Age

28 to 70 years

Policy Term

Fixed terms of 10, 15 and 20 for benefit levels of 100%, 111% and
125% respectively

Premium Payment

Annual/half-yearly/quarterly/monthly

Mode
Annual Premium

Minimum payment

Payment

10/15-year term: Rs 5882


20-year term: Rs 8824

62

General Exclusion
In case the life insured commits suicide one year within the issue of the plan, no benefits outlined
in the plan would be payable.

[10] Kotak Surakshit Jeevan

Enjoy bonus payouts from time to time


Bonuses are added to your savings amount accumulated through the premiums paid in this
savings plan. These bonuses help you earn returns on the value of your savings and accumulate a
substantial corpus.

Boosted Cover
With increased responsibility comes a greater need for enhanced protection for your family. With
this life insurance plan, you'll have boosted your life insurance protection from the 5th policy
year onwards without additional premium payment ensuring your family is properly covered
should anything untoward happen.

Saving with regular investment

63

Kotak Surakshit Jeevan helps you set aside a corpus via a disciplined savings plan so you can
achieve your financial goals with ease. Whether you're saving up for your child university
education or a dream property, Kotak Life Insurance plans can help you get what you want more
easily.

Flexible premium payment options


This life insurance policy gives you the freedom to choose the premium payment period that best
suits your needs whether it's an annual, half-yearly, quarterly or monthly option.

Flexibility to meet diverse requirements


Surakshit Jeevan gives you the flexibility to utilise your accumulated kitty on maturity in any of
the following three different ways:

To meet contingency fund requirements, by receiving the entire proceeds as a single


lump sum

To help fulfil your kids' dreams, : To meet the continuous fund requirements of your
child's education and career, you can opt for half-yearly installments over a five-year period.
The guaranteed amount of each half-yearly installment would be Rs.108 per thousand
maturity benefit

To support a comfortable retirement, by withdrawing the cash component of 1/3 of the


maturity proceeds, then using the balance to purchase an annuity from Kotak Life Insurance
or any other insurer.

Additional protection
Want extra protection? Enhance your protection with these rider plans:
64

Riders

Benefits payable

Kotak Permanent

Payout in installments upon a disability claim

Disability Benefit
Kotak Life Guardian

Waiver of premiums upon death and all future premiums to be

Benefit

paid by Kotak Life Insurance

Eligibility:

Entry age

0 60 years

Maturity age

18 70 years

Policy term

10 25 years
For minors, the minimum policy term will be greater of 10 years or (18
years minus age at entry as on the last birthday.

Premium

Annual/Half-yearly/Quarterly/Monthly

payment mode
Annual premium

Minimum payment

payment

Annual: Rs. 3,500


Maximum payment
Annual: Rs. 35,000

65

General Exclusion

In the event of the Life Insured committing suicide within one year of the date of issue of
the life insurance policy, no benefits are payable.

In case of suicide within one year of the date of revival of the policy, the Surrender Value
as on date of claim event will be payable.

[11] Kotak Invest Maxima

Zero premium allocation charge


Kotak Invest Maxima has no premium allocation charge, thus ensuring that most of your money
is invested in the funds chosen by you and returns are enjoyed over a larger portion of your
premiums.

Choice of portfolio strategies


Kotak Invest Maxima offers you two portfolio strategies to optimise your investments:
1. Self Managed Portfolio Strategy offers you the flexibility to invest in any of the five fund
options we provide you. These fund options vary from aggressive to cautious and hence are
suitable

for

all

kinds

of

investors.

2. Systematic Switching Strategy (SSS)1 allows you to participate in the volatile equity markets
in a systematic & and structured manner. It enables you to invest in Money Market Fund and
transfer a pre-defined amount every month into any one of the following funds:

Classic Opportunities Fund

66

Frontline Equity Fund

You have the option to choose Systematic Exit Strategy (SES) 2, wherein during the last policy
year, you will have the choice to switch out of the selected fund, i.e. you can move the amount
accumulated in either Classic Opportunities Fund or Frontline Equity Fund to the Money
Market Fund systematically over a 12-month period, in a similar manner as SSS 1 & 2 Kindly
refer to the product brochure for the details of these strategies.
Through these strategies, you will have ample flexibility in the way you invest your money.

Get rewarded for staying invested longer


To reward long-term savings the plan will add survival units every 5 years starting from the end
of 10th policy year (subject to policy being in force i.e. not in the discontinued state).
Annualized / Single Premium

Rs. 50,000 to Rs. 74,999

Survival Units^ (as % of Fund Value)

Rs. 75,000 & Above

1%

2%

^ Average of the Fund Value on the relevant date and the two preceding year ends.

Choice of convenient policy term and premium payment term


You have the flexibility to opt for policy terms and premium payment terms as per your
convenience. For Single Premium Payment option the policy term is fixed 10 years whereas for
Regular and Limited Premium Payment terms you can choose from the fixed policy terms of 10,
15, 20, 25 and 30 years.

Liquidity through loans and partial withdrawals


You can access your investment after completion of the 5th policy year by way of partial
withdrawals. Further, you can avail of a policy loan up to 40% of the Fund Value in Main
67

Account and Top-Up Accounts to meet any contingency, after two years premiums have been
paid for regular and limited premium payment terms. For Single premium payment option, loans
shall be granted against the policy anytime after the first policy year.

Enhanced protection through riders


To ensure that your family has adequate financial cushion against the uncertainties of life like
accident and permanent disability, you can opt for additional riders with this plan. These riders
come with additional premium and you can read the details in the rider brochure.

Eligibility:
Entry Age#

Min: 0 years*, Max : 65 years

Maturity Age#

Min: 10 years , Max : 75 years

Policy Term

Regular Premium: 10, 15, 20, 25 & 30 yrs


Limited Premium: 10, 15, 20, 25 & 30 yrs
Single Premium: 10 yrs

Premium
Payment Term

Regular: Same as Policy Term chosen


Limited: 5 years

Premium
Payment Mode

Annual & Single

Premium

Regular - Rs. 50,000 - Rs. 1,00,000


Limited - Rs. 75,000 - Rs. 1,00,000
Single - Rs. 1,00,000 - Rs. 2,50,000

Basic Sum
Assured

Regular and Limited Premium:


Min SA: Age < 45 yrs: Higher of (10 X AP) or (0.5 X Policy Term X AP)
Age >= 45 yrs: Higher of (7 X AP) or (0.25 X Policy Term X AP)
Max SA: 25 x AP
Single Premium:
Option I : 5 times SP
Option II : 1.25 times SP
68

AP: Annualised Premium


SP: Single Premium
Top-Up
Premium

Min: Rs. 20,000


Max: For Regular & Limited Premium: 10 x AP
For Single Premium: 5 x SP
(aggregate for all Top-up Premiums during the policy term)

Top-Up Sum
Age at the time of Top-Up less than 45 yrs: 1.25 X Top-Up Premium
Assured
Age at the time of Top-Up is 45 yrs and above: 1.10 X Top-Up Premium
#
Ages
above
will
be
as
at
the
last
birthday
*
For age 0 to 7 years, underwriting screening will apply.
General Exclusion
In the event of the Life Insured committing suicide within one year of the date of issue of the
policy, the Basic Sum Assured and Top-Up Sum Assured are not payable and only the Fund
Value in the Main Account and Top-Up Accounts are payable.

[12] Kotak Gramin Bima Yojana

Brochure

69