Kotak Life Guaranteed Savings Investment Plan | PolicyX
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Kotak Guaranteed Savings Plan

Kotak Life Guaranteed Savings Plan combines a guaranteed savings plan ...Read More

🛡️ IRDAI Approved
⭐ 4.6/5 · 920 reviews
📊 Maturity Age- 75 solvency ratio
✅ Minimum Age - 5 year% claim settlement ratio
🌐 Annual, half-yearly,+ pan-India

About Kotak Guaranteed Savings Plan

A quick read on what this Kotak Investment Plans term plan covers and why it might be a fit for you.

Kotak Life Guaranteed Savings Plan combines a guaranteed savings plan and a life insurance plan. In case of your unfortunate demise, your loved ones will receive death benefits. If you outlive the policy tenure, you will be paid the maturity amount along with applicable additions.

You can also choose from multiple rider benefits to enhance the coverage of your base plan. This article provides complete information about the Kotak Guaranteed Savings Plan, including its features, benefits, eligibility criteria, and available buying options.

The Kotak Guaranteed Savings Plan is a unique life insurance plan.

Kotak Guaranteed Savings Plan offers a range of benefits, including:

  • Policy loan
  • Tax Benefits
  • Death benefit
  • Waiting period
  • Flexible payment terms
  • Maturity benefits

Eligibility Criteria for Kotak Guaranteed Savings Plan

Entry age
Entry age
Minimum entry age: 3 years. Maximum entry age: 60 years.
Maturity age
Maturity age
Maximum maturity age: 75 years
Policy tenure
Policy tenure
10/ 14/ 15/16/20 years
Premium payment term
Premium payment term
5,7,8,10 years
Premium payment frequency
Premium payment frequency
Monthly, Quarterly, Half-yearly, and Yearly
Sum assured
Sum assured
Based on premium age, policy term, and premium payment term

Pros & cons

A quick honest summary — the strengths and the trade-offs.

Pros

  • Policy Loan
  • Tax Benefits
  • Flexible Premium Payment

Cons

  • No pre-existing condition
  • Suicidal exclusion
  • Aviation accident

Who can buy this plan

Eligibility criteria pulled straight from the policy wording.

Minimum entry age: 3 years; Maximum entry age: 60 years; Minimum sum assured: Based on premium age/policy term/premium payment term; Maximum sum assured: Based on premium age/policy term/premium payment term; Maximum policy term: 20 years.

How Does the Kotak Guaranteed Savings Plan Work?

Let's understand how the Kotak Guaranteed Savings Plan works with a simple premium illustration.

Problem

Mr. Raman wants to buy a savings plan to provide a secure financial future for his family and create wealth to fulfill his future financial goals.

Solution

His financial advisor advised him to buy the Kotak Guaranteed Savings Plan. He visited PolicyX.com

Let's understand how the Kotak Guaranteed Savings Plan works for him with a premium illustration table.

Age of policyholder Annual Premiums Policy tenure Premium Payment Term Sum Assured Guaranteed loyalty additions Maturity Benefits
30 years Rs 1 lakhs 20 years 10 years Rs 17,35,180 Rs 1,80,000 Rs 22,65,180

 

Benefits of Kotak Guaranteed Savings Plan

There are various benefits to buying the Kotak Guaranteed Savings Insurance Plan. Let’s understand each of them in detail:

  • Limited premium payment optionsThere are only limited premium payment options available under this plan helping policyholders to avoid any confusion. These premium payment options are 5,7,8,10 Pay.
  • Guaranteed additionsOnce your premium payment tenure ends guaranteed additions are provided from the next policy year until the last policy year. The guaranteed additions are specific % value of your annual premiums.
  • Guaranteed loyalty additionsGuaranteed loyalty additions are paid to the policyholder at the maturity date along with maturity benefits. These benefits are paid to policyholders for staying invested.
  • Death benefitsIn case of the policyholder’s uncertain demise, their nominees are paid death benefits. These benefits help them to live a comfortable life.
  • Maturity benefitsIf the policyholder surpasses their policy tenure then maturity benefits are paid to them on the maturity date along with all the guaranteed benefits.
  • Waiting periodThis plan offers a 90-day waiting period to their policyholders from the date of policy purchase. In case of the policyholder’s demise during the waiting period, only premiums paid are returned to the nominee. Death benefits are paid to their nominee only if the cause of death is an accident.

Documents Required for Kotak Guaranteed Savings Plan

Keep these documents handy when applying for Kotak Guaranteed Savings Plan.

Photo ID Proof

Photo ID Proof (either of one) - Passport, Aadhaar card, PAN card, Driving license.

Age Proof

Age Proof (either of one) - Passport, Aadhaar card, PAN card, Driving license.

Address Proof

Address Proof (either of one) - Utility bill, passport, voter ID, ration card.

Medical Records

Medical Records of the policyholder if requested.

Income Proof

Income Proof (either of one) - bank statement, last three months' salary slips (if you are salaried).

Exclusions of Kotak Guaranteed Savings Insurance Plan

  • Suicide within 12 months of the policy purchase is not covered.
  • Consumption of any intoxicants.
  • Death due to any aviation accident.
  • Death due to any adventurous sports.

Other Features of Kotak Guaranteed Savings Plan

Here are the key features of the Kotak Guaranteed Savings Plan.

Conclusion

Kotak Guaranteed Savings Plan offers dual benefits: financial protection for your family in case of your unfortunate demise and guaranteed maturity benefits to fulfill financial requirements. This plan offers guaranteed additions and loyalty additions. You can also choose from multiple riders to enhance your coverage.

Life Insurance Articles

Kotak Guaranteed Savings Plan: FAQs

The 5 most-asked questions about Kotak Guaranteed Savings Plan, answered.

Kotak Guaranteed Savings Plan is a combination of guaranteed savings and a life insurance plan that offers you dual benefits- death benefits and maturity benefits.
The minimum age to buy Kotak Guaranteed Savings Plan is 3 years while the maximum age is 60 years.
You can buy Kotak Guaranteed Savings Plan either from their official website or by visiting one of their nearest branch offices.
The loyalty additions are extra benefits provided with the Kotak Guaranteed Savings Plan for staying invested in the plan.
Kotak Guaranteed Savings Plan offers multiple payment terms including 5,7,8,10 years.

Written and reviewed by

PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.

Written by Himanshu Kumar — Term & Life Insurance Reviewed by Anchita Bhattacharyya — Health, Term & Life Insurance
Last updated: 6 Feb 2025 · Originally published: 6 Feb 2025

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