Kotak Life- Premium Return Plan

A Term Plan which requires minimum documentation, no medical tests & the premium can be deducted automatically from your account. The Premium return plan is said as a sure & secure plan, those who do not have a life insurance cover & would like to protect your family from any kind of unforeseen circumstances, and then the Premium Return Plan is always advisable. It is a term plan that makes financial sense by offering maturity benefits.

Features of Kotak Premium Return Plan
1. Returns of premium- It’s a non-participating plan that covers you throughout the term & on maturity returns all the premiums paid by you. Here the amount of premium returned will depend on term of the plan & the premium chosen by you.
2. Hassle free- Simple application procedure, no medical tests & automatic debit pf premium make it a hassle free plan.
3. Maturity benefits- The premium paid by you will be returned at the time of maturity of the policy. The amount payable to you depends upon the term of the policy chosen.
The table below shows different premium option at the time of maturity.

Maturity Benefits

Payment Mode of Premium	Term	10 Years				15 Years			20 Years
	% of premium return on maturity	100%				111%			125%
Monthly	Premium	500	750	1000	1500	500	750	1000	750	1000
	Maturity Benefits	60000	90000	120000	180000	100000	150000	200000	225000	300000
Quarterly	Premium	1549	2314	3079	4608	1549	2314	3079	2314	3079
	Maturity Benefits	61,176	91,765	122,353	183,529	101,859	152,788	203,718	229,412	305,882
Half Yearly	Premium	3,015	4,515	6,015	9,015	3,015	4,515	6,015	4,515	6,015
	Maturity Benefits	60,000	90,000	120,000	180,000	99,900	149,850	199,800	225,000	300,000
Annualty	Premium	5,882	8,824	11,765	17,647	5,882	8,824	11,765	8,824	11,765
	Maturity Benefits	58,824	88,235	117,647	176,471	97,941	146,912	195,882	220,588	294,118

4. Death Benefit- The beneficiary will receive the death benefit (Sum assured less premium unpaid during the year of death) in case of the unfortunate death of the life insured.
Below is the table that shows different term options at different age.

Death Benefits

Age	Term in years
	10 Years					15 Years		20 Years
18-30	290	500	700	1,050	410	660	920	730	1000
31-35	230	400	560	840	310	500	700	530	730
36-40	170	290	410	610	230	360	500	390	530
41-45	130	210	290	430	160	260	360	290	400
46-50	90	150	200	300	120	190	260	220	300

Note : The premiums which are unpaid during the year of death will be deducted from the death benefit.
5. Tax Benefit- Under Section 80C, 10(10D) of Income Tax Act, 1961 you can enjoy the tax benefit.