The Kotak Money Back Plan of Kotak Life Insurance is an investment plan which offers the advantage of lump sum cash at periodic intervals of 5 years. This policy ensures gathering of the financial responsibility which may arise due to any unfortunate situation. This plan does not afford any life cover but gives the guaranteed addition along with bonus on the maturity of the policy.
The Kotak Money Back Plan of Kotak Life Insurance plan is specially planned for person of the following categories:
- This plan is suited for individuals who would like to accept the cash in lump sum at regular intervals for future planning like child education, asset purchase etc.
- This plan is for those who are looking for guaranteed add-ons to the money along with the lump sum on the maturity of the policy.
- Those who want to plan for not now regular cash back and bonus but also automatically life cover can avail this insurance plan.
- The advantages of Kotak Money Back Plan of Kotak Life Insurance plan are s follows:
- The benefit of earning extra on the plan.
- Receiving cash lump sum at intervals of five years.
- On maturity of the policy getting the guaranteed additions.
- Availability of death benefit increasing at 7% of sum assured at the end of each year.
The benefits of Kotak Money Back Plan of Kotak Life Insurance plan are as follows:
Death Benefit
On the death of the policy holder the insurance cover will increase by 7% percent of the sum assured at the end of the each year. This helps in keeping speed with the life cover with the increasing rate of price increases.
Maturity Benefit
Survival Benefit 5thyr 10th yr 15th yr 20th yr 25th yr
15 year Plan 25% 25% 50%
Survival
Benefit
Guaranteed
Addition 20%
20 year Plan 20% 20% 20% 40%
Survival 30%
Benefit
Guaranteed
Addition
25 Year Plan 15% 15% 15% 15% 40%
40%
Survival
Benefit
Guaranteed
Addition
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Tags: Insurance, insurance plan, KOTAK LIFE INSURANCE, Kotak Money Back Plan