Kotak Classic Endowment Plan vs Lic Jeevan Saathi

Kotak Classic Endowment Plan is a long-term protection cum savings plan that helps you grow your money. It is a participating endowment plan that offers protection benefits up to the age of 75 years. The plan offers a special premium discount for a high sum assured on maturity i.e. for Rs. 5 lakhs & above.

With Kotak Life Classic Endowment Plan, you'll receive a yearly cash bonus at the end of each financial year, if any is declared. The plan even allows you to get additional protection against death, disability, or disease by adding optional riders to your base policy. You also have the flexibility to choose from a different range of PPT (Premium payment term) or PT (Policy term) options based on your suitability.

Kotak Life Classic Endowment Plan is a unique life insurance plan. We will read the plan in detail in the section below for more clarity and better understanding.

Kotak Life Classic Endowment Plan offers you a range of benefits including:

• Maturity Benefit 
• Tax Benefits
• Premium Discounts

• Flexibility
• Rider Benefits 
• Cash Bonuses

LIC Jeevan Saathi is basically an endowment assurance policy that is there to ensure the lives of husband and wife. It offers the required financial protection to the insured's life. Under the same, the insured lives will be able to get the maturity amount and the end of the policy term.

It is a unit-linked insurance plan under which a couple can get the required insurance coverage within a single policy. In this policy, the proposer will be called Principal Life Assured (P.L.A.) and the other life (husband/wife) will be called Spouse Life Assured (S.L.A.). Recently, this plan has gained so much popularity just because of its unique features. The plan allows the P.L.A. to choose the sum assured amount, under which both lives will be insured. It may also vary if you opt for a single premium or regular premium contract, as well as your age and the amount of premium agreed to pay.

When it comes to regular premium policies, in case of the demise of the P.L.A. during the policy's tenure, the plan will help his/her spouse for waiver of all future premiums including outstanding premiums as well.

LIC Jeevan Saathi Plan offers you a range of benefits including:

• Maturity benefits
• Bonuses
• Partial withdrawals

• Switching
• Death benefits