Kotak Investment Plans
Kotak Life Assured Savings is a non-participating endowment assurance ...Read More
A quick read on what this Kotak Investment Plans term plan covers and why it might be a fit for you.
Kotak Life Assured Savings is a non-participating endowment assurance plan. This investment plan is designed to provide dual benefits of protection along with wealth creation to the life insured. It offers a limited premium payment option of 5 to 10 years, and you can purchase this plan for a policy term of 10 to 20 years.
Kotak Life Assured Savings is a unique life insurance plan. Let's explore the plan in detail for better understanding.
Kotak Life Assured Savings Plan offers a range of benefits including:
A quick honest summary — the strengths and the trade-offs.
Eligibility criteria pulled straight from the policy wording.
There are various benefits to buying the Kotak Life Assured Savings Plan. Let’s understand each of them in detail:
Key features that make Kotak Life Assured Savings stand out.
Policy Loan
The insured can avail loan facility under the Kotak Life Assured Savings Plan for up to 50% of the surrender value of your policy.
Guaranteed Benefits
You will receive a guaranteed maturity benefit on maturity, which is equal to the sum of Basic Sum Assured, Accrued Guaranteed Yearly Additions, and Guaranteed Loyalty Addition.
Policy Terms
It offers two different policy terms of 10 and 20 years.
Increasing Cover
It offers the option of increasing life coverage with ‘Guaranteed Yearly Additions’ every time you pay your premium.
Keep these documents handy when applying for Kotak Life Assured Savings.
Photo ID Proof
Photo ID Proof (any one) - Passport, Aadhaar card, PAN card, Driving license.
Age Proof
Age Proof (any one) - Passport, Aadhaar card, PAN card, Driving license.
Address Proof
Address Proof (any one) - Utility bill, passport, voter ID, ration card.
Medical Records
Medical Records of the policyholder if requested.
Income Proof
Income Proof (any one) - Bank statement, last three months' salary slips (if salaried).
Here are the key features of the Kotak Life Assured Savings.
Conclusion
If you are looking for a life insurance plan that not only covers you for the policy term but also provides a guaranteed lump sum at maturity, consider buying the Kotak Life Assured Savings Plan. This plan offers a guaranteed lump sum at maturity along with increasing life cover.
The 5 most-asked questions about Kotak Life Assured Savings, answered.
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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