Kotak Assured Savings Plan

Benefits/Advantages of Kotak Assured Savings Plan

1. It is a moneyback plan with bonus facility
2. Offers guaranteed payout
3. Offers four additional riders
4. Survival benefit: This plan pays out every year from the end of 10th Policy year onwards for a period of 20 years. The payout depends on the Annual Premium.
5. Death benefit: If the Life Insured dies within the policy tenure, the Sum Assured is paid as Death Benefit, irrespective of the amount already paid out and the policy is terminated.
6. Maturity benefit: Basic sum assured along with guaranteed loyalty addition and guaranteed yearly addition is paid at maturity.
7. Income Tax Benefit: Premiums paid up to Rs.1,00,000 are allowed as a deduction from the taxable income each year under section 80C

How Does The Kotak Assured Savings Plan Work

Listed below is the basic sum assured granted for an annual premium of Rs.20,000 for entry ages of 3 and 60 years.

Riders/Add-on Covers Available for Kotak Assured Savings Plan

1. Kotak term benefit - In case of the demise of the insured, rider sum assured and death benefit under base plan will be paid completely.
2. Kotak life guardian benefit - Outstanding premiums will be waived off and will be paid by the bank in case of death of the policyholder.
3. Kotak accidental disability guardian benefit - Outstanding premiums will be waived off in case of accidental disability of the policyholder.
4. Loan facility - One can avail loans up to 50% of the surrender value to a minimum loan amount up to Rs.10,000.