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Kotak Sampoorn Bima Micro Insurance Plan is a micro-insurance plan for low-income earners. The benefits provided under the plan are detailed below.
Benefits of the plan
Customers have to pay a single premium payment of Rs. 200 to get the benefits under the plan. These benefits include maturity benefits, death benefits and surrender benefits. These benefits are highlighted hereunder.
The maturity benefits are provided to the insured person when they survive the policy tenure. The maturity benefits provided are,
Age of entry into the plan
Maturity Benefit (Rs.)
Between 18-25 years
Between 26-40 years
Between 41-55 years
An amount of Rs.5,000 is immediately paid to the legal heir upon the death of the insured person to meet immediate financial needs. The death benefit at any point is a minimum of 1.25 times the single insurance premium paid
Surrender benefit is provided by the insurance company to the insured person when the policy is surrendered before the completion of the term. The surrender benefit provided is tabled below.
Year of surrender
Surrender benefit provided (Rs.)
Customers are also eligible for tax benefits under section 80C of the Income Tax Act and section 10(10D).
Eligibility for the plan
The eligibility for Kotak Sampoorn Bima Micro Insurance Plan is detailed below.
Premium to be paid
Frequency of premium payment
Applicable entry age
18 years to 55 years
Kotak Life Insurance has many plans that cater to the specific needs of customers. The Kotak Sampoorn Bima Micro Insurance Plan provides many benefits to the insured individual and his/her family and is pocket friendly for low-income groups.
A CIBIL™ score is a three digit number between 300 and 900 that gives potential lenders a quick idea of your loan
Credit repair involves rebuilding your credit health to a level where you become eligible for loans.
A credit report is a history of your credit behaviour and contains detailed information on all your loan and credit
A credit rating - also known as a credit score - is a 3 digit number between 300-900 that gives potential lenders
A bad credit score is generally one that is less than 650. A credit score is a three digit number in the range of 300-900
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Your CIBIL™ Score plays an important role in getting loans and credit cards sanctioned, because it gives lenders
It is not possible for anyone, either lenders or borrowers, to get a CIBIL™ score or credit report for free.
It is important to know that there is no such thing as a CIBIL™ defaulter list. There used to be a defaulter list earlier,
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