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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 Moneyback plan is a savings and investment plan that provides lump-sum payouts to the insured person. The key features of the plan are mentioned below.
Features of Kotak Premier Moneyback Plan
There are several features of the Kotak Premier Moneyback Plan that make it an attractive option for individual investors.
Age requirements
The eligibility parameters of the policy have specified the age requirements that are required for this policy. The entry and maturity requirements for this policy is tabled below.
Particulars | Policy term 16 years | Policy term 20 years | Policy term 24years |
Minimum entry age | 2 years | 2 years | 2 years |
Maximum entry age | 57 years | 55 years | 51 years |
Maximum maturity age | 75 years | 75 years | 75 years |
Premium payments
There is no minimum premium to be paid in the policy. The actual premium to be paid is based on the sum assured for each policy. The premium payment terms for limited pay are based on the policy term. The details of the same are tabled below.
Policy term | Premium payment term |
16 years | 8 years |
20 years | 10 years |
24 years | 12 years |
Applicants have the option to pay this premium in multiple options i.e., monthly, quarterly, half-yearly and yearly modes.
Policy tenure
The multiple policy tenure options under this policy are 16 years, 20 years and 24 years.
Benefits
The benefits under the plan are tabled below.
Type of benefit | Details |
Maturity benefits | Percentage of basic sum assured + accrued bonuses |
Death benefit | Age =< 45 years Higher of,
Age > 45 years Higher of,
|
Accidental benefits | Enhanced death cover in addition to the death benefit paid to the nominee. Not applicable in case of suicide, war, etc. |
Final Thoughts
Kotak Life Insurance is a go-to option if you’re looking for savings cum investment schemes. Investors have the option to get guaranteed payouts and increased life cover.
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