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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,

  • 11 times of annual premium
  • Basic sum assured 

Age > 45 years

Higher of,

  • 7 times of annual premium
  • Basic sum assured 

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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