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. Such plan not only provide life cover but also entitle you to a guaranteed addition and bonus on maturity. Money back plans like these not only let you enjoy regular cash flows during the policy term, they also get you a substantial life cover, which increases every year.
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 guaranteed additions to your money along with a lump sum on maturity.
You want a plan that offers you not just regular cash back and bonuses, but also a life cover that automatically increases each year.
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
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 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.
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.
Payouts (percentage of sum assured)
15 year Plan Survival Benefit Guaranteed Addition
20 year Plan Survival Benefit Guaranteed Addition
25 Year Plan Survival Benefit Guaranteed Addition
* 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 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 future 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.
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)