Kotak Life Insurance Premium Return Plan

This plan is a sure and secure insurance option without the hassles or worries of a conventional insurance plan. With minimal paperwork and procedures, you get the dual benefit of a risk cover and savings. At the end of the term, a minimum of the premiums paid by you will be returned depending on the option you choose. In other words, this is a term plan that makes financial sense by offering maturity benefits as well.
 This plan is ideal for you…
  • If you do not have a life insurance cover or are underinsured and would like to protect your family in the eventuality of you not being around yet receive all your premiums back on maturity.
  • If you would like to cover your life without any elaborate paper-work and medical tests and with premiums being automatically deducted from your account.
 Advantages
  • Twin benefit of risk cover and savings
  • Affordable premiums
  • Hassle free premium payments
  • No medical examinations
 Key Features
Return of premiums
This is a non-participating plan that covers you throughout the term and on maturity returns all the premiums paid by you. The amount of premium returned will depend on term of the plan and the premium chosen by you.
Hassle-free
With a simple application procedure, no medical tests and automatic debit of premiums; you can have an insurance plan without any worries.
Death Benefit
The beneficiary will receive the death benefit (Sum assured less premium unpaid during the year of death) in case of the unfortunate death of the life insured.
Maturity Benefit
On maturity, the premiums paid by you will be returned. The amount payable to you on maturity will depend on the term of the policy chosen by you.
The table below shows you the Maturity and Death Benefit for different premium* and term options
Maturity Benefit
Premium Payment ModeTerm10 years15 years20 years
% of premiums returned on maturity100%111%125%
MONTHLYPremium (Rs.)5007501000150050075010007501000
Maturity Benefit (Rs.)60,00090,000120,000180,000100,000150,000200,000225,000300,000
QUARTERLYPremium (Rs.)1,5492,3143,0794,6081,5492,3143,0792,3143,079
Maturity Benefit (Rs.)61,17691,765122,353183,529101,859152,788203,718229,412305,882
HALF-YEARLYPremium (Rs.)3,0154,5156,0159,0153,0154,5156,0154,5156,015
Maturity Benefit (Rs.)60,00090,000120,000180,00099,900149,850199,800225,000300,000
ANNUALLYPremium (Rs.)5,8828,82411,76517,6475,8828,82411,7658,82411,765
Maturity Benefit (Rs.)58,82488,235117,647176,47197,941146,912195,882220,588294,118
  *Plus Service Tax as applicable from time to time.
Death Benefit** (Rs.’000s)
AgeTerm – 10 yearsTerm – 15 yearsTerm – 20 years
18-30
2905007001,050410
660920
7301,000
31-35
230400560840310
500700
530730
36-40
170290410610230
360500
390530
41-45
130210290430160
260360
290400
46-50
90150200300120
190260
220300
  ** Premiums unpaid during the year of death will be deducted from the death benefit.
 Tax Benefits
Section 80C, 10(10D) of Income Tax Act, 1961 would apply. Tax benefits are subject to change in tax laws. You are advised to consult your tax advisor for details.

Download its brochure here.



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