The Kotak Money Back Plan of Kotak Life Insurance is an investment plan which offers the benefit of lump sum cash at periodic intervals of 5 years. This policy ensures meeting of the financial obligation which may arise due to any unfortunate circumstances. This plan does not provide 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 designed for person of the following categories:
- This plan is suited for those who would like to receive 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 additions to the money along with the lump sum on the maturity of the policy.
- Those who want to plan for not just regular cash back and bonus but also automatically life cover can avail this plan.
- The advantages of Kotak Money Back Plan of Kotak Life Insurance plan are s follows:
- The benefit of earning bonus on the plan.
- Receiving cash lump sum at intervals of 5 years.
- On maturity of the policy receiving 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:
On the death of the policy holder the insurance cover will increase by 7% of the sum assured at the end of the each year. This helps in keeping pace with the life cover with the increasing rate of inflation.
Survival Benefit 5thyr 10th yr 15th yr 20th yr 25th yr
15 year Plan 25% 25% 50%
20 year Plan 20% 20% 20% 40%
25 Year Plan 15% 15% 15% 15% 40%