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Kotak Premium Endowment Plan is an endowment plan with insurance coverage. The policy provides guaranteed additions for the initial 5 years and accrued bonuses from the 6th year. The key details of the year are mentioned below.



Nature of Policy

Individual Endowment plan with long term benefits

Policy tenure

10-30 years

Applicable entry age

18 years to 60 years

Maturity age

70 years

Premium paying term

Regular Pay – equal to the policy term

Limited Pay – 5years, 7 years, 10 years 15 years

Yearly premium payment

Minimum premium regular pay – Rs. 8,000

Minimum Premium limited pay – Rs. 15,000

Frequency of premium payment

Monthly, quarterly, half-yearly, yearly

Additional Benefits

  • Guaranteed additions of 5% of sum assured to be paid in first 5 policy years
  • Bonus to accrue from 6th policy year
  • Nomination facility
  • Tax benefit under section 80C and 10 (10D)

Maturity benefit

Sum assured + guaranteed additions+ accrued bonuses+ terminal bonus

Surrender value

Guaranteed Surrender Value or Special Surrender Value

Death Benefits

Higher of,

  • Basic sum assured
  • 11 times or 7 times annual premium paid (depending on the age of the customer)
  • 105% of the total premium paid

Settlement option

  • Receive lump sum payout at settlement
  • Receive lump sum payment of up to 50% of maturity proceeds + balance in equal instalments for 5 to 10 years (including interest @4% p.a.)

Final Thoughts

Kotak Premium Endowment Plans is an insurance cum investment plan designed for individuals in India. Customers can also include additional riders on the existing plans depending on their requirements.

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