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CreditMantri Finserve Private Limited
CreditMantri Finserve Private Limited Unit No. B2, No 769, Phase-1, Lower Ground Floor, Spencer Plaza, Anna Salai, Chennai - 600002
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Kotak Premier Life Insurance Plan is a non-participating life insurance plan from the Kotak Life Insurance company. The benefits of this plan are highlighted below.
Coverage benefits
This policy is applicable to all the resident Indians and the age requirements for this policy are tabled below.
Applicable age | PPT 8 years | PPT 12 years | PPT 15 years | PPT 8 years |
Minimum entry age | 3 years | 3 years | 3 years | 3 years |
Maximum entry age | 55 years | 53 years | 50 years | 45 years |
Maturity age | 99 years | 99 years | 99 years | 99 years |
Minimum sum assured | Rs. 2,00,000 | Rs. 2,00,000 | Rs. 2,00,000 | Rs. 2,00,000 |
Policy Term | 99 years less entry age | 99 years less entry age | 99 years less entry age | 99 years less entry age |
*PPT - Premium Paying Term
Maturity benefits
The maturity benefits under Kotak Premier Life Plan in the form of cash payouts or paid-up additions of the sum assured and bonuses accrued if any.
Death benefits
The death benefits under the plan are paid to the legal heir of the insured person. The death benefit of the plan is calculated to be higher of,
Tax benefits
Customers can get tax deductions under section 80C and section 10(10D) of the Income Tax Act, 1961.
Bonuses
Policyholders are eligible for various bonuses like cash bonus, terminal bonus, interim bonus depending on the guidelines of the insurer.
Availability of loan option
Another available benefit is the option to avail loan after the policy reaches surrender value. The loan available is a minimum of Rs. 10,000 and a maximum of 95% of the surrender value.
Final Thoughts
Kotak Life Insurance Company provides many insurance plans with savings and investment options. These plans provide guaranteed benefits like maturity benefits, death benefits, bonuses, etc. Make sure to compare the features of each plan and choose the best one that fits your insurance cum investment needs.
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