Kotak Investment Plans
The Kotak Premier Money Back Plan is a savings and protection plan. It ...Read More
A quick read on what this Kotak Investment Plans term plan covers and why it might be a fit for you.
Kotak Premier Money Back Plan is a savings-cum-protection plan by Kotak Life Insurance. It provides regular payouts as a percentage of the Basic Sum Assured at specific intervals during the policy term. With the Kotak Money Back Plan, you can grow your savings with yearly bonuses and a lump-sum maturity addition.
The plan provides an in-built accidental death benefit, setting its life protection feature apart from others. Under this plan, you can stay protected against risk with additional financial support by selecting from a wide range of add-on riders.
Kotak Premier Money Back Plan offers you a range of benefits including:
A quick honest summary — the strengths and the trade-offs.
Eligibility criteria pulled straight from the policy wording.
Let's understand how the Kotak Premier Money Back Plan works with a simple premium illustration.
Mr. Samay is a 30-year-old who wants a plan that can protect his family and maximize his money.
His financial advisor advised him to buy the Kotak Premier Money Back Plan. He visited PolicyX.com.
Let's understand how the Kotak Premier Money Back Plan works for him with a premium illustration table.
| Age of Policyholder | Annual Premiums | Policy Tenure | Premium Payment Term | Basic Sum Assured | Maturity Benefits |
|---|---|---|---|---|---|
| 30 years | Rs. 2,93,375 | 20 years | 10 years | Rs. 4,23,000 @ 4% | Rs. 8,12,000 @ 8% |
There are various benefits to buying the Kotak Premier Money Back Plan. Let’s understand each of them in detail:
Regular Payouts: Kotak Money Back Plan provides regular payouts as a percentage of the basic sum assured at specific intervals based on the chosen policy term. However, the balance sum assured is paid out at maturity.
Maturity Addition: The plan provides a lump sum maturity benefit along with the final payout based on the policy term at the end of the term. Maturity additions are determined as a percentage of the basic sum assured and will vary depending on the policy term.
In-Built Accidental Death Benefit: The plan provides an inbuilt accidental death benefit, setting its life protection feature apart from others. In case of the policyholder's death due to an accident, an additional Basic Sum Assured is paid along with the Death Benefit.
Partial Withdrawals: You can withdraw a partial amount on completion of a minimum of 5 policy years, with the minimum withdrawal amount being Rs 10,000.
Discount for High Sum Assured: You'll receive a special premium discount for high sum assured amounts of Rs. 5 lakh and above. The discount rate will be Rs. 2 per 1000 Sum Assured.
Cash Bonuses: The insurer declares a yearly cash bonus at the end of each financial year, which is added to the sum assured on maturity. It includes a simple reversionary, interim, or terminal bonus.
Key features that make Kotak Life Premier Money Back Plan stand out.
Death Benefit
If the policyholder dies unfortunately during the policy term, the guaranteed sum assured on death will be payable to the nominee.
Surrender Benefit
If you want to surrender your Kotak Money Back Plan, you can do so once your policy acquires a surrender value. The plan obtains a surrender value immediately after paying premiums for two consecutive years.
Maturity Benefit
Once you outlive the policy tenure, the maturity benefit shall be payable.
Riders
Choose from 4 different riders available under the plan.
Keep these documents handy when applying for Kotak Life Premier Money Back 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).
Here are the key features of the Kotak Life Premier Money Back Plan.
| What’s Good Here | What’s Missing |
|---|---|
| Regular Payout | Guaranteed Additions |
| Maturity Additions | No High Sum Assured Rebate |
| Cash Bonuses | No Auto Cover Continuance |
| Discount for High Sum Assured | Regular Income |
| In-Built Accidental Death Benefit | Plan Options |
Kotak Premier Money Back is a savings-cum-protection plan. It helps you grow your savings with yearly bonuses and a lump-sum maturity addition. It is ideal for someone who wants to create a second income source to manage expenses.
For more information related to this plan, you can visit PolicyX.com, or call us at 1800 - 420 - 0269. Our insurance experts listen to your unique needs and suggest the best possible solution for you.
The 5 most-asked questions about Kotak Life Premier Money Back Plan, answered.
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
Select a company and plan for each side to see a detailed side-by-side comparison.
Rated by 62 customers
Select Your Rating
Let us know about your experience or any feedback that might help us serve you better in future.
Do you have any thoughts you'd like to share?
5-min consultation · No spam · No pushy sales
ChatGPT
Claude
Perplexity