Kotak Life Guaranteed Savings Plan vs Lic Premium Endowment

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

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

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

• Policy loan
• Tax Benefits
• Death benefit

• Waiting period 
• Flexible payment terms 
• Maturity benefits 

This plan has double roles to play. Firstly, this plan is applicable for safeguarding a family after the untimely death of the policyholder. Secondly, after maturity, it provides a handsome amount of money to the policyholder. After the end of each year, this policy has to offer a bonus amount which will be added to the main amount.

The name itself suggests that this plan is a limited-period offer. The meaning is the premiums that need to be paid are limited. After the end of certain years, the policyholder doesn't need to pay them anymore. This is one of the most attractive features of this plan. For example, if this policy is going to mature after 12 years then the policyholder has to pay premiums for at least 8 years. After that time period, they don't have to bear the payments. The amount of the actual policy will be paid fully if the policyholder dies unnaturally before maturity and also if it matures naturally.

LIC Premium Endowment Plan offers you a range of benefits including:

• Death Benefits
• Maturity Benefits
• High Sum Assured Rebates

• Profit Participation
• Bonuses