The Kotak Gramin Bima Yojana of Kotak Life Insurance is like a fixed deposit. This policy protects the family and the loved ones against the uncertainties of the life and also provides with guaranteed returns. It gives a financial protection when life at every moment is changing.
This policy not only covers the life but also makes sure that the money works hard and generates returns to the investor. The plan has a facility of one time premium thus it saves from the worries of making annual payments. This plan is a non participating plan.
The eligibilities of Kotak Gramin Bima Yojana of Kotak Life Insurance are as follows:
- The minimum entry age for the availability of the plan is 18 years.
- The maximum entry age for the availability of the plan is 45 years.
- The available plan term is 15 years.
- The minimum premium amount of the plan is Rs 200.
- The maximum premium amount of the plan is Rs 20,000.
- The maximum cover age of the plan is 70 years.
The advantages of Kotak Gramin Bima Yojana of Kotak Life Insurance policy are as follows:
- This policy has the combination benefits of an insurance plan and a fixed deposit.
- The policy has an easy one time premium payment.
- The policy comes with guaranteed returns on maturity of the plan.
- The death benefit cover of the policy is increasing one.
- No medical test is required for signing up in the plan.
- This plan also has a facility of 15 day lock period.
The benefits of the plan are:
- At the time of maturity of the policy the policy holder will receive 150% of the single premium that is it will grow 1.5 times on maturity.
- In case of the death of the policy holder the beneficiary will receive 100% of the single premium paid on the first 2 years of the term.
- The beneficiary will receive 500% of the single premium on third years onwards till the 15th year of the plan.