Interested in financial products
CreditMantri
Processing

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,

  • 105% of the premiums paid
  • Sum assured 
  • 11 times the annual premium

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.

Apply for a credit score

POPULAR LINKS

×Thank you! Your comment will be reviewed and posted shortly.

CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf.