What can Eternal Life do for you?
A complete security throughout your life which continues well beyond the retirement to ensure that your family is safe and secure in spite of the irrespective of uncertainties in life. Get a high coverage with an affordable premium on account of your growing responsibilities and live with peace for the rest of your life.
Flexible offers for planned and unplanned needs and provide an easy way to access your money on crises, comfort and security even in the crucial stage of your life. Choose your own beneficial options and solution that suits your personal preference.

Why choose this plan?

Adequate protection to safeguard your growing needs.
High amount of insurance coverage which is about 25-45 times on the initial premium paid. Guaranteed death benefits for higher protection before and after the premium payment term with a regular bonus benefits.

Get paid at the end of the premium term with an accumulated bonus to secure your dreams. Avail loan on emergencies to help your tide through adversities. Increase in premium to maintain your income and offer at affordable protection from the scratch. Premium paid for the lesser number of years

How does the product work?

Step 1: Choose your life cover - the basic Sum Assured, based on your existing insurance cover and needs.

Step 2: Decide the number of years you wish to pay premiums, based on your personal and financial goals.

Step 3: Choose a plan from two unique variants based on premium option preference.

Step 4: Receive a lump sum Cash Benefit at the end of your Premium Payment term.

Step 5: Get guaranteed protection till your 99th birthday and enjoy the potential for additional bonus boosts to your life cover along the way!

Key Features

Why Eternal Life Plan?

• Permanent and complete protection till your 99th birthday.
• Insurance cover that extends well beyond 60-70 years, to protect your loved ones till you turn 99
  Guaranteed Death Benefit till age 99
• A complete protection package guarding you against risk of Death, Disability* as well as Critical Illness.
• Adequate protection to meet your growing needs
• High amount of insurance cover that is almost 25-45 times the initial premium paid
• Regular bonuses# that boost guaranteed death benefit to provide for higher protection during and after the premium payment term
• Cash lumpsum to fulfill your dreams
• A significant cash lumpsum paid at the end of the premium payment term to secure your dreams (Bonuses# accumulated till the end of the premium paying term)
• In case of emergencies, loan facility can be provided to help you tide through adversities.
• Increased choice through a range of plan options
• Increasing Premium Option that keeps income and offers affordable protection from the start
• A few years of premium payment (option to choose between 10-40 years) offers a lifetime of protection
• Special rates for females and non-smokers (For Sum Assured greater than Rs. 10 lakhs)
• Choice of Riders to personalize your plan as per your requirement.

A ladder to success. .
Right ways to secure your life by being in your own world as you are. Good capital protection and a value for the embedded investment with the flexibility and transparency which has an aggressive growth link in the market. Offers the flexibility to adjust the risk of tenure and profile of the investment made.

Advantages

• Unique blend of safety & returns
• Wealth maximization through superior fund management
• Protection for loved ones
• Flexibility to increase savings
• High liquidity through easy withdrawals

• Choice of 2 plan variants
• Future Protect
• Assure Wealth
• Maximizes wealth while providing protection
• Joint life option
• Save for 2 children with one plan
• Additional bonus units
• Flexible Withdrawal

1. It is a low-cost insurance plan.
2. In case you opt for the regular premium payment option, you may pay your premiums either annually, or in half yearly or quarterly installments.
3. Your Kotak Term Plan can be converted into any other plan offered by Kotak Life Insurance (except for another Term plan) provided there are at least 5 years before cover ceases*..
4. In case you forget to pay your premium by the due date, you are entitled to a grace period of 30 days from the date of unpaid premiums.
5. In case of a financial emergency, you have the option to surrender the policy provided you have taken the single premium payment option.

Value added to this benefits are

• Accident death benefits
• Permanent Disability.
• Critical illness Benefit.
• No maturity benefits In the event of death during the term of the policy, the beneficiary would receive the sum assured.

Accidental Death Benefit: This benefit provides an additional amount (over and above the basic sum assured) to the beneficiary in the event of the accidental death of the life insured. The maximum cover available under this rider is equal to the basic sum assured (subject to a maximum of Rs.10 lakhs).

Permanent Disability Benefit: This benefit can be added to your basic life insurance policy to provide financial support in case of disability due to an accident. The amount payable under this benefit would be paid out as an annuity. The maximum permanent disability benefit that you can avail of is equal to the basic sum assured (subject to a maximum of Rs.10 lakhs).

Permanent disability is defined as permanent and immediate inability to work or permanent loss
of use of two limbs or total and permanent loss of sight.

Critical Illness Benefit: This benefit can be added to your basic life insurance policy to provide financial support in the event of a medical emergency. On the first occurrence of critical illness during the term of the policy, you would receive a portion of the sum assured to reduce your financial burden in this emergency.

(Please contact our Life Advisor for the list of critical illnesses).

"What do you receive on maturity of the policy?"
Since this is a pure risk cover plan, there are no maturity benefits.

"What happens in the event of death of the life insured?"
In the event of death during the term of the policy, the beneficiary would receive the sum assured.

"Are there any Tax Benefits?"
Section 80C, 10(10D) of Income Tax Act would apply. Premiums paid for Critical Illness Benefit qualify for benefits under Section 80D. These benefits are as per the currently prevailing tax regulations and you are advised to consult your tax advisor for details.

* Please consult your tax advisor for details

How does this plan work?
To explain, how his plan works….
Mr. Sanjay Gupta, a 30-year-old male, decides to buy the Kotak Term Plan for a sum assured of Rs.10,00,000 for a 10 year term. The annual premium that Mr.Gupta pays is Rs.3,747 annually. In the event of his unfortunate death during the next ten years, his family would receive Rs.10,00,000.

In the illustration, some benefits are guaranteed and some are variable. Guaranteed Returns are marked "guaranteed" as mentioned in the illustration. Two different rates are shown for variables of the assumed future returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back .The actual return may be different depending on a number of factors including future investment performance.

Exclusion
In case the life insured commits suicide within 1 (one) year of the plan, no benefits outlined in the plan would be payable.

Exclusions for Accidental Death Benefit, Permanent Disability Benefit & Critical Illness Benefit:
The Accidental Death Benefit, Permanent Disability Benefit & Critical Illness Benefit would not be paid out in the following circumstances:

a) Self inflicted injuries, suicide, insanity, immorality, committing any breach of law or being under the influence of drugs, liquor etc
.
b) When the life insured is engaged in aviation or aeronautics other than as a passenger on a licensed commercial aircraft operating on a scheduled route.

c) Due to injuries from war (whether war is declared or not), invasion, hunting, other dangerous hobbies or activities, or having been on duty in military, para-military, security or police organization.

Additional Exclusions for Critical Illness:
a) Unreasonable failure to seek or follow medical advice.
b) Any pre-existing medical conditions not disclosed at inception.
c) Infection with Human Immunodeficiency Virus (HIV) or conditions due to acquired Immune Deficiency Syndrome (AIDS).
In addition, no benefit would be paid in respect of the exclusions specific to each critical illness.

Prohibition of Rebates
Section 41 of the Insurance Act, 1938 states: -
(1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.

(2) Any person making default in complying with the provision of this section shall be punishable with fine, which may extend to five hundred rupees.

The product leaflet gives only the salient features of the plan. The policy document is the conclusive document, and provides in detail all the conditions relating to the Kotak Term Plan.

Kotak Preferred Term Plan

Who is eligible for Kotak Preferred Term Plan?

1. Males over the age of 18 years, who do not use tobacco in any form.
2. Females over the age of 18 years.

What are the advantages of this plan?

• It is a low-cost insurance plan.
• You can choose between a regular premium payment option or a single premium payment option. In case you opt for the regular premium payment option, you may pay your premiums either annually, or in half yearly or quarterly installments.
• Your Kotak Term Plan can be converted into any other plan offered by Kotak Life Insurance (except for another Term plan) provided there are at least 5 years before cover ceases*.
• In case you forget to pay your premium by the due date, you are entitled to a grace period of 30 days from the date of unpaid premiums.
• In case of a financial emergency, you have the option to surrender the policy provided you have taken the single premium payment option*.
• This also has an accident death benefits, critical illness benefit, and permanent disability.

How old do you have to be to avail of this plan?

For what term can I avail of this plan?

What is the minimum premium that I need to pay and at what intervals can I pay them?

What are the advantages of this plan?

What value-adds can you opt for?

You may avail of the following non-participating value-adds for a nominal premium at the time of taking your policy, subject to aggregate premium on all value-adds (except Critical Illness Benefit) not exceeding 30% of the basic Kotak Term Plan premium.

Accidental Death Benefit
This benefit provides an additional amount (over and above the basic sum assured) to the beneficiary in the event of the accidental death of the life insured. The maximum cover available under this rider is equal to the basic sum assured (subject to a maximum of Rs.10 lakhs).

Permanent Disability Benefit
This benefit can be added to your basic life insurance policy to provide financial support in case of disability due to an accident. The amount payable under this benefit would be paid out as an annuity. The maximum permanent disability benefit that you can avail of is equal to the basic sum assured (subject to a maximum of Rs.10 lakhs).

Permanent disability is defined as permanent and immediate inability to work or permanent loss
of use of two limbs or total and permanent loss of sight.

Critical Illness Benefits
This benefit can be added to your basic life insurance policy to provide financial support in the event of a medical emergency. On the first occurrence of critical illness during the term of the policy, you would receive a portion of the sum assured to reduce your financial burden in this emergency.

(Please contact our Life Advisor for the list of critical illnesses).

What do you receive on maturity of the policy?
Since this is a pure risk cover plan, there are no maturity benefits.

What happens in the event of death of the life insured?
In the event of death during the term of the policy, the beneficiary would receive the sum assured.

Are there any Tax Benefits?
Section 80C, 10(10D) of Income Tax Act would apply. Premiums paid for Critical Illness Benefit qualify for benefits under Section 80D. These benefits are as per the currently prevailing tax regulations and you are advised to consult your tax advisor for details.

* Please consult your tax advisor for details

Exclusions
In case the life insured commits suicide within 1 (one) year of the plan, no benefits outlined in the plan would be payable.

Exclusions for Accidental Death Benefit, Permanent Disability Benefit & Critical Illness Benefit:
The Accidental Death Benefit, Permanent Disability Benefit & Critical Illness Benefit would not be paid out in the following circumstances:

• Self inflicted injuries, suicide, insanity, immorality, committing any breach of law or being under the influence of drugs, liquor etc.
• When the life insured is engaged in aviation or aeronautics other than as a passenger on a licensed commercial aircraft operating on a scheduled route.
• Due to injuries from war (whether war is declared or not), invasion, hunting, other dangerous hobbies or activities, or having been on duty in military, para-military, security or police organization.

Additional Exclusions for Critical Illness:
a) Unreasonable failure to seek or follow medical advice.
b) Any pre-existing medical conditions not disclosed at inception.
c) Infection with Human Immunodeficiency Virus (HIV) or conditions due to acquired Immune Deficiency Syndrome (AIDS).
In addition, no benefit would be paid in respect of the exclusions specific to each critical illness.

Prohibition of Rebates

Section 41 of the Insurance Act, 1938 states: -
(1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.

(2) Any person making default in complying with the provision of this section shall be punishable with fine, which may extend to five hundred rupees.
The product leaflet gives only the salient features of the plan. The policy document is the conclusive document, and provides in detail all the conditions relating to the Kotak Term Plan.

The Money-Back plan helps the policy holder to some extant. A lump sum is paid periodically,without affecting the amount of insurence cover, can be invested. Insurers have also developed innovative plans to deal with this problem.To elebrate with this policy has used a technique to combine a term insurence plan with an investment savings plan.Plan covers for an entire life with the assured sum of certain percent in the form of cash at regular interval of every 5 years. An ideal plan for the special events like wedding and education of your children. It’s a participating plan with profit.

Who can avail of this Plan?
How old do you have to be to avail of this plan? Minimum age- 18 years
Maximum age- 60 years

For what term can I avail of this plan?

You can avail the plan in terms of 15, 20 & 25 years

What is the maximum age that the plan can cover you till?

The plan covers the maximum age 75 years

What are the advantages of this plan

The plan not only covers your life but also provides you with a survival benefit payout every 5 years.
In the unfortunate event of death of life insured, the beneficiary would receive the death benefit. The death benefit keeps increases by 7% of the sum assured every year.
On maturity, you would receive the sum of the Survival Benefit, Bonus addition* and Guaranteed addition**.

*Bonus addition is the amount in the Accumulation Account, in excess of the sum assured.
Accumulation Account is your personal account in which the premiums that you pay are deposited, the return declared every year is added and the survival benefit payouts, risk and expense charges are deducted.
**Guaranteed addition is the guaranteed amount payable on maturity,
over and above the Survival Benefit.

The amount available in the Accumulation Account is invested in various financial instruments (as per IRDA regulations) so your money works hard for you.
The Automatic Cover Maintenance facility ensures the policy remains in force even if you miss premium payments. This facility is available after the first three years of the term.
You have the benefit of a 15-day free look period.
You have the option of paying premiums quarterly, half yearly or yearly.

What value-adds can you opt for?
You may avail of the following value-adds for a nominal premium at the time of taking the plan, subject to the aggregate premium on all value-adds not exceeding 30% of the basic Kotak Money Back Plan premium.

Term Benefit/ Preferred Term Benefit: In the event of death during the term of this benefit, the beneficiary would receive an additional death benefit amount, which is over and above the sum assured. The maximum Term Benefit you can avail of is equal to the basic sum assured. Where the term benefit cover applied for is more than Rs 10 lakhs, better rates may apply, subject to meeting eligibility requirements.

Accidental Death Benefit: This benefit provides an additional amount (over and above the sum assured) to the beneficiary in the event accidental death of the life insured. The maximum cover available under this benefit is equal to the basic sum assured (subject to a maximum of Rs.10 lakhs).

Permanent Disability Benefit: This benefit can be added to the basic life insurance plan to provide financial support in case of permanent disability due to an accident. The amount payable under this benefit would be paid out as an annuity. The maximum permanent disability benefit that you can avail of is equal to the basic sum assured (subject to a maximum of Rs.10 lakhs).

Permanent disability is defined as permanent and immediate inability to work
or permanent loss of use of two limbs or total and permanent loss of sight.

Critical Illness Benefit: This benefit can be added to the basic life insurance plan to provide financial support in the event of medical emergencies. On the first occurrence of critical illness during the term of the policy, you would receive a portion of the sum assured to reduce your financial burden in this emergency.
*Please contact our Life Advisor for the list of critical illnesses

Life Guardian Benefit: This benefit can be availed of, only in case where the life insured and the proposer are two different individuals. In case of the unfortunate death of the proposer, this benefit keeps the policy alive by waiving all future premiums on the policy.

Accidental Disability Guardian Benefit: In case the proposer is permanently disabled as a result of an accident, this benefit keeps the policy alive by waiving all future premiums on the policy.

What do you receive on maturity of this plan?
On maturity, you would receive the sum of the Survival benefit, Guaranteed addition and Bonus addition. The table below illustrates the survival benefit pay out for every Rs.1000 of sum assured.

Insurence can be taken on the lives of their childeren, who are not majors. The proposal will have to be made by the parents or a guardian.Covers the future financial needs of your child. when the nominee is minor, an appointee should be appointed by the policyholde. the appointee must affix his signature to the endorsement either in the proposal form or on the text of the policy in token of his savings. when their is no appointee the claim amount under the policy, cannot be paid to the guardian appointed or natural it can be paid only to legal heirs. if the nominees are more than one the policy amount payableto them jointly or to the survivor or the survivors.A plan of aazadi to realize your Child’s dreams. Maturity benefits + bonus on the assured sum , Financial accumulation, life guardian benefits. Accident Disability of Guardian Benefits.

What are the advantages of this plan?"

1. In case the life insured commits suicide within 1 (one) year of the plan, no benefits outlined in the plan would be payable.
2. No claim under the Kotak Life Guardian Benefit would be admitted if, within one year of the date of issue of this policy, the premium payer commits suicide, whether being sane or insane at the time of committing suicide.

1. The premium payer suffers from self-inflicted injuries, attempt to suicide, insanity, immorality, committing any breach of law or being under the influence of drugs, liquor etc.
2. Where the premium payer is engaged in aviation or aeronautics other than as a passenger on a licensed commercial aircraft operating on a scheduled route.
3. The premium payer suffers injuries from war (whether war is declared or not), invasion, hunting, mountaineering, motor racing of any kind, other dangerous hobbies or activities, or having been on duty in military, para-military, security or police organization.

• Accumulation Account is your personal account, in which the premiums that you pay are deposited, the return declared every year is added and risk and expense charges are deducted.
• The amount available in the Accumulation Account is invested in various financial instruments (as per IRDA regulations) so your money works harder for you.
• The Automatic Cover Maintenance facility ensures the policy remains in force even if you miss premium payments. This facility is available after the first three years of the term.
• You can take a loan against your policy, after the policy has been in force for at least three years.
• You have the option of paying premiums quarterly, half yearly or yearly. You also have the flexibility to pay premiums through the full term of the policy or pay it for a fixed term of 3, 5, 7, 10 or 15 years.
• You have the benefit of a 15-day free look period.

1. You can choose to start making withdrawals from the vesting age, subject to a maximum of 65 yrs.
   At the start of your withdrawal period, you can draw the full proceeds; or you can draw upto 50%, of your Basic Sum Assured or Accumulation Account*, whichever is higher.
2. In the event that you draw the full proceeds, your policy terminates.
3. In the event that you do not draw full proceeds, then you can make one or more withdrawals yearly (that can alter year to year, as per your needs), total of which will be between 0% to 25% of the Net Vesting Value**, subject to the rules applicable at the vesting age. These withdrawals can be made for a maximum period of 15 years after maturity.
4. You have the choice to opt for an early vesting at any age before the scheduled vesting age (subject to at least 3 years' premiums having been paid), if need arises. If the early vesting is due to medical grounds, then the minimum condition of 3 yrs is also waived.
5. In addition to the regular premiums, you can make lump-sum injections into your plan during the premium-paying period, as and when you want (such lump-sum injections during a year may not exceed 25% of the Basic Sum Assured). A Supplementary Accumulation Account will be created for this, and will be combined with the Accumulation Account at the chosen vesting age.
6. You have the facility of Automatic Cover Maintenance, which ensures that the policy remains in force even when you miss the premium payments. This facility is available after the first 3 years of the term.
7. You have the option of paying premiums from the Supplementary Accumulation Account, created for "lump-sum injections", if the need arises.
8. During the build-up period, you get an additional life cover of 10% of the Basic Sum Assured, which is over and above the life cover you have opted for.
9. During the withdrawal period, you get life cover of 10% of the Basic Sum Assured, and the Critical Illness Benefit (CI+15), if opted for. This is available for a period of 15 years from your vesting age or till you turn 75, whichever is earlier. During the withdrawal period, returns will continue to be added to the Accumulation Account. Such returns cannot be negative.
10. You have the option of paying premiums in quarterly, half-yearly or yearly installments.
11. You have the benefit of a 15-day free look period.
    
    *Accumulation Account is your personal account in which the premiums that you pay are deposited, the returns declared every year are added and risk and expense charges are deducted.
    **Net Vesting Value is the Basic Sum Assured or Accumulation Account; whichever is greater after deducting the withdrawal made on the vesting age.

• Assuming that the Accumulation Account at age 55 is equal to Rs.14,02,200, Mr. Mohan withdraws Rs.1,40,000 (i.e. 10% of amount in his Accumulation Account) immediately on his vesting age. Of the balance, he takes yearly withdrawals of Rs.75,000 (7.5% of the Basic Sum Assured of Rs.10 lakhs) in the middle of each year for the next 15 years.
• Supposing, that the return on the Accumulation Account continues at 6%p.a., for the 15 years of the withdrawal period, a final benefit of Rs.11,82,700 will be available to Mr. Mehta when he is 70.
• Assuming that the Accumulation Account at age 55 is equal to Rs.22,37,000, Mr. Mohan withdraws Rs.2,24,000 (i.e. 10% of amount in his Accumulation Account) immediately on his vesting age.
• Of the balance, he takes yearly withdrawals of Rs.1,50,000 (15% of the Basic Sum Assured of Rs. 10 lakhs) in the middle of each year for the next 15 years.
  Supposing, that the return on the Accumulation Account continues at 10% p.a., for the 15 years of the withdrawal period, a final benefit of Rs.33,51,800 will be available to Mr. Mehta when he is 70.

Have a peaceful retired life by availing this plan “your freedom to live” after retirement.Safe investment plan II

This unit linked plan is safe and has a duel benefits of insurance and capital market returns, guaranteed maturity value the returns are totally tax free. If the market value of your benefits is higher you reap the benefits with peace of mind and whistle.

If you are an aggressive investor in equities, you could protect the downside risk in a bear market by investing a portion of your funds in the Kotak Safe Investment Plan II. What you are essentially doing is that while you enjoy equity returns, your money is protected from abysmal lows and market vagaries by way of a Guaranteed Maturity Value.

Who can avail of the Kotak Retirement Income plan
How old do you have to be to avail of this plan?
Minimum age - 18 years
Maximum age - 60 years

For what term can you choose to pay the premiums?
5 yrs - 30 yrs

How old do you have to be to receive your annuity?
Minimum Age - 45 yrs
Maximum Age - 65 yrs

At what intervals can you pay the premium?
Quarterly
Half Yearly
Annually

"What are the advantages of this plan?"
You can choose to retire at any age between 45 yrs and 65 yrs.

On Retirement:
You may take a lump sum in cash of up to a third of your Basic Sum Assured or Accumulation Account*, whichever is higher; and the balance of the benefit you are eligible for will be used to buy an annuity of your choice.

Annuity Options:
You may buy an annuity either from Kotak Life Insurance (subject to the choice and rates available at that time)**, or from any other insurer.

Early Retirement Benefits:
You may opt to retire early, i.e. at any age before the normal retirement date (subject to the policy being in force for 3 years or your attaining a minimum age of 45 yrs, whichever is later). You can then secure benefits with your Accumulation Account, net of an early retirement charge of 5%.
If the early retirement is due to ill health, then you may retire before attaining the age of 45. You can then secure benefits with your full Accumulation Account.

Late Retirement Benefits:
You may opt to retire after the retirement date originally selected, and select a new retirement date (subject to a maximum of 65 years). No further premiums will be payable and the death benefit will be equal to the balance in Accumulation Account. (However, all riders will cease at the original retirement date).

You can make lump-sum injections into your policy at any time before retirement (such lump-sum injections during a year may not exceed 25% of the Basic Sum Assured). A Supplementary Accumulation Account will be created for this, and will be paid out in the same manner as other benefits.
You may exercise the option of paying premiums from the Supplementary Accumulation Account, created for "lump-sum injections", if the need arises.

For a "With Cover" plan, you have the facility of Automatic Cover Maintenance, which ensures that the cover remains in force even when you miss the premium payments. This facility is available after the first three years of the term.

You have the option of paying premiums in quarterly, half-yearly or yearly installments.
You have the facility of a 15-day free look period.

*Accumulation Account is your personal account in which the premiums that you pay are
deposited, the returns declared every year are added and risk and expense charges are deducted.

**For example you can currently avail of the Kotak Immediate Income Plan, which gives the option of Life Annuity with Return of Purchase Price. The annual annuity rate applicable for an immediate annuity purchased now is 6.11% of Purchase Price (before deduction of charges), for the age group 56 years to 65 years. This, however, will vary with prevailing market interest rates, but will be competitive

"What value-adds can you opt for?"
You may avail of the following value-adds for a nominal premium at the time of taking the policy, subject to the aggregate premium on the value-adds not exceeding 30% of the premium on the basic benefit.

Term/ Preferred Term Benefit:
In the event of death during the term of this benefit, the beneficiary would receive an additional Death Benefit amount, which is over and above the Sum Assured. The maximum amount of benefit you can avail of is equal to the Basic Sum Assured. Where the Term Benefit cover applied for is more than Rs.10 lakhs, better rates may apply, subject to meeting eligibility requirements.

Accidental Death Benefit:
In the event of death as a result of an accident during the term of this benefit, your beneficiary will receive an additional benefit, which is over and above the Basic Sum Assured. The maximum Accidental Death Benefit you can avail of is equal to the Basic Sum Assured (subject to a maximum of Rs. 10 lakhs).

Critical Illness Benefit:
In case of the first occurrence of a critical illness during the term of this benefit, the Critical Illness Benefit Sum Assured will be added to the Supplementary Accumulation Account. Once the addition is made to the Supplementary Accumulation Account , the Basic Sum Assured would reduce by the Critical Illness Benefit Sum Assured, the Basic Accumulation Account would reduce in the same proportion and future premiums for the plan would be recalculated based on the reduced Sum Assured. . The maximum Critical Illness Benefit Sum Assured you can avail of is equal to the Basic Sum Assured (subject to a limit of Rs.20 lakhs).

(Please contact our Life Advisor for a list of Critical Illnesses)

Permanent Disability Benefit:
If you meet with an accident during the term of this benefit, and are permanently disabled, you would be entitled to an additional amount, which is over and above the Basic Sum Assured. This amount will be added to the Supplementary Accumulation Account and will be available on retirement. The maximum benefit available under this plan is equal to the Basic Sum Assured (subject to a maximum of Rs.10 lakhs).

Permanent Disability is defined as permanent and immediate inability to work
or permanent loss of use of two limbs or total and permanent loss of sight.

Life Guardian Benefit:
In case of the unfortunate death of the proposer, this benefit keeps the policy alive by waiving all future premiums on the policy. This is available only where the proposer and the life insured are two different individuals.

Accidental Disability Guardian Benefit: In case the proposer is permanently disabled as a result of an accident, this benefit keeps the policy alive by waiving all future premiums on the policy. This is available only when the proposer and the life insured are two different individuals.

**Are available as value adds only on "With Cover" plan

What are the Tax Benefits on this Plan?
Section 80C, 10(10D) of Income Tax Act would apply. Premiums paid for Critical Illness Benefit qualify for benefits under Section 80D. These benefits are as per the currently prevailing tax regulations and you are advised to consult your tax advisor for details.

*Please consult your tax advisor for details.

What happens in the event of the death of the life insured before retirement?
For the "With Cover" Plan:
The benefits to the beneficiary will be, greater of:
(i) Sum Assured less all the premiums due but not paid, and
(ii) Accumulation Account.

This is used to buy an annuity, and provide commutation benefit, in accordance with the beneficiary's choice.

For the "Without Cover" Plan:
The benefits to the beneficiary will be, greater of:
(i) Return of premiums (without interest), and
(ii) Accumulation Account.
This will be used to buy an annuity, and provide commutation benefit, in accordance with the beneficiary's choice.

How does the Kotak Retirement Income Plan work?
Mr. Mehta is a 35-year-old man, who wishes to retire at age 60. He takes the Kotak Retirement Income Plan with a Basic Sum Assured of Rs. 3 lakhs. He considers the following two options; "With Cover" - Option A, and "Without Cover" - Option B.

Option A Option B
Kotak Retirement Income Plan premium Rs 9,750 Rs 9,060

Term Benefit premium (3 lakhs of cover) Rs 1,818

Accidental Death Benefit premium (3 lakhs of cover) Rs 265

Total Annual Premium Paid Rs 11,568 Rs 9,325

(a)What is the benefit available to Mr.Mehta on retirement?

Under Option A,
Assuming that Mr. Mehta's Accumulation Account grows at 6% p.a, the fund available to him will be Rs. 4,67,500. Assuming that it grows at 10%, then the fund available to him will be Rs. 8,70,000.
Mr. Mehta may commute upto a third in cash immediately, and buy an annuity with the remaining benefit.

Under Option B,
Assuming that Mr. Mehta's Accumulation Account grows at 6% p.a, the fund available to him will be Rs.4,63,000. Assuming that it grows at 10%, then the fund available to him will be Rs. 8,56,600.
Mr. Mehta may commute upto a third in cash immediately, and buy an annuity with the remaining benefit.

(b) What is the benefit available in the event of the unfortunate death of Mr. Mehta after 15 years?

Under Option A,
Mr. Mehta's beneficiary will be eligible for the greater of Rs. 3 lakhs or the balance in the Accumulation Account. The balance in the Accumulation Account will be less than Rs. 3 lakhs even if the accumulation account grows at 10% per annum. He/she will also receive an additional Rs.3 lakhs under the "Term Benefit" as Mr. Mehta availed of this value-add by paying a nominal premium of Rs.1,818 p.a, for it. The beneficiary may commute upto a third in cash immediately, and buy an annuity from the remaining benefit.

Under Option B,
Mr. Mehta's beneficiary will be eligible for Rs. 1,95,400 if his Accumulation Account grows at 6% per annum, and Rs. 2,75,600 if his Accumulation Account grows at 10% per annum. In the event that Mr. Mehta's death has been due to an accident, then his beneficiary will receive an additional Rs.3 lakhs under the "Accidental Death Benefit", as Mr. Mehta availed of this value-add by paying a minimal premium of Rs.265 p.a. for it. The beneficiary may commute upto a third in cash immediately, and buy an annuity with the remaining benefit.

In the illustration, some benefits are guaranteed and some are variable. Guaranteed Returns are marked "guaranteed" in the illustration. Variable returns are shown at two different rates of assumed future returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back .The actual return may be different depending on a number of factors including future investment performance.

General Exclusion.
In case the life insured commits suicide within 1 (one) year of the plan, no benefits outlined in the plan would be payable.

Exclusions for Accidental Death Benefit and Permanent Disability Benefit, Kotak Accidental Disability Guardian Benefit:

The Accidental Death Benefit, Permanent Disability Benefit, Critical Illness Benefit & Kotak Accidental Disability Guardian Benefit would not be paid out in the following circumstances:
(a) Self inflicted injuries, suicide, insanity, immorality, committing any breach of law or being under the influence of drugs, liquor etc.

(b) When the life insured is engaged in aviation or aeronautics other than as a passenger on a licensed commercial aircraft operating on a scheduled route
.
(c) Due to injuries from war (whether war is declared or not), invasion, hunting, mountaineering, motor racing of any kind, other dangerous hobbies or activities, or having been on duty in military, para-military, security or police organization.

Additional Exclusions for Critical Illness

(a) Unreasonable failure to seek or follow medical advice.
(b) Any pre-existing medical condition not disclosed at inception.
(c)Infection with Human Immunodeficiency Virus (HIV) or condition due to Acquired Immune Deficiency Syndrome (AIDS).
In addition, no benefit would be paid in respect of the exclusions specific to each critical illness.

Prohibition of Rebates
Section 41 of the Insurance Act, 1938 states:

(1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer
.
(2) Any person making default in complying with the provision of this section shall be punishable with fine, which may extend to five hundred rupees.

An ideal retirement solution is the one that gives you complete flexibility and peace of mind, not only while you save for your retirement but also after you retire. To help you plan towards the golden years of your life, we present to you the Kotak Retirement Plan (Unit-Linked).

An investment plan designed to secure your future, it assures that even though you have stopped working, your income does not. It is offered to you in three versions – Regular Premium, With Cover and Without Cover, in addition to a Single Premium version. The regular premium options come with the Kotak “Seal of Guarantee”@. These plans have been designed to ensure that your money earns you handsome returns, safe from the vagaries of the capital market, so that you can retire comfortably and securely.

Please note that in these plans, the investment risk in the investment portfolio is to be borne by the policyholder. However, Kotak Life Insurance offers you a Basic Sum Assured/ Guaranteed Maturity Value on the Regular Premium versions of this plan to safeguard against the downside risk of falling markets.

How does this plan work?
Step 1: Choose from the Regular Premium With Cover and Without Cover Options or the Single Premium plan based on your need for protection from the harsh uncertainties of life and the investment markets

Step 2: Decide the amount of savings (premiums) you may wish to allocate to building your retirement kitty and aiming for healthy cash flows in your golden years

Step 3: Choose the retirement (vesting) age between the age of 45 and 75 years.

Step 4: Select the fund options to balance your risk profile and the tenure of investment.

Step 5: Opt for any of the rider benefits in the regular premium versions to enhance flexibility and boost benefits.

Truly unique is that you enjoy a Guaranteed Maturity Value, with varying degrees of equity exposure depending on your risk appetite. So, if the market value of your units is higher, you reap the benefits with the peace of mind that whilst in a bear market your investment is under-pinned by the Guaranteed Maturity Value. And there’s more, the returns are totally tax-free*.

Please note that in this policy, the investment risk in the investment portfolio is to be borne by the policyholder. However, Kotak Life Insurance offers you a Guaranteed Maturity Value on this plan to safeguard against the downside risk of falling markets.

Why should you invest in Kotak Safe Investment Plan II?
Kotak Safe Investment Plan II is an ideal investment option:

• If you have never invested in the equity markets, for the fear of loss of capital. With Kotak Safe investment Plan II, you need not worry about losing your capital as you have the downside risk protected by way of the Guaranteed Maturity Value.

• If you have been an investor in debt markets, you could switch a portion of your funds to equity markets via Kotak Safe Investment Plan II. The plan offers you the potential to earn higher returns with the safety net of a Guaranteed Maturity Value.

• If you are an aggressive investor in equities, you could protect the downside risk in a bear market by investing a portion of your funds in the Kotak Safe Investment Plan II. What you are essentially doing is that while you enjoy equity returns, your money is protected from abysmal lows and market vagaries by way of a Guaranteed Maturity Value.

• You want a comprehensive long term solution for managing your finances.
• You want insurance to be an important part of your portfolio to protect your loved ones.
• You are cautious with investments in the equity markets due to the fear of loss of capital.
• You think that financial concepts require lot of time to grasp and are probably best left to the experts.

• If you would like to save the hassle of regular premium payments
• If you would like to increase your investment amount at your convenience as per your requirement
• If you do not want to be tied down to a tight, pre-decided maturity schedule.

This is a non-participating plan that covers you throughout the term and on maturity returns all the premiums paid by you. The amount of premium returned will depend on term of the plan and the premium chosen by you. It’s a hassle free plan with less documentation. you also get the dual benefit of a risk cover and savings. At the end of the term, a minimum of the premiums paid by you will be returned depending on the option you choose. In other words, this is a term plan that makes financial sense by offering maturity benefits as well..

Key Features

Return of premiums

This is a non-participating plan that covers you throughout the term and on maturity returns all the premiums paid by you. The amount of premium returned will depend on term of the plan and the premium chosen by you.

Hassle-free

With a simple application procedure, no medical tests and automatic debit of premiums: you can have an insurance plan without any worries.

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.

Maturity Benefit

On maturity, the premiums paid by you will be returned. The amount payable to you on maturity will depend on the term of the policy chosen by you.

The table below shows you the Maturity and Death Benefit for different premium* and term options

Premium Payment Mode Term

10 years 15 years 20 years and the % of premiums returned on maturity 100% 111% 125%

MONTHLY Premium (Rs.) 500 750 1000 1500 500 750 1000 750 1000

Maturity Benefit (Rs.) 60,000 90,000 120,000 180,000 100,000 150,000 200,000 225,000 300,000

QUARTERLY Premium (Rs.) 1,549 2,314 3,079 4,608 1,549 2,314 3,079 2,314 3,079

Maturity Benefit (Rs.) 61,176 91,765 122,353 183,529 101,859 152,788 203,718 229,412 305,882

HALF-YEARLY Premium (Rs.) 3,015 4,515 6,015 9,015 3,015 4,515 6,015 4,515 6,015

Maturity Benefit (Rs.) 60,000 90,000 120,000 180,000 99,900 149,850 199,800 225,000 300,000

ANNUALLY Premium (Rs.) 5,882 8,824 11,765 17,647 5,882 8,824 11,765 8,824 11,765

Maturity Benefit (Rs.) 58,824 88,235 117,647 176,471 97,941 146,912 195,882 220,588 294,118

Age Death Benefit(Rs.)

18 - 30 290,000 500,000 700,000 1,050,000 410,000 660,000 920,000 730,000 1,000,000
31 -35 230,000 400,000 560,000 840,000 310,000 500,000 700,000 530,000 730,000
36 - 40 170,000 290,000 410,000 610,000 230,000 360,000 500,000 390,000 530,000
41 - 45 130,000 210,000 290,000 430,000 160,000 260,000 360,000 290,000 400,000
46 -50 90,000 150,000 200,000 300,000 120,000 190,000 260,000 220,000 300,000

* Premiums are excluding service tax.
Advantages

• Twin benefit of risk cover and savings
• Affordable premiums
• Hassle free premium payments
• No medical examinations
• Tax Benefit
• Section 80C, 10(10D) of Income Tax Act, 1961 would apply. You are advised to consult your tax advisor for details.

Eligibility:

Entry Age Minimum age - 18 years
Maximum age - 50 years

Term 10, 15 or 20 years

Maturity Age MAX 60 years for Term 10 years ,
65 years for Term 15 years,
70 years for Term 20 years .

General exclusion
In case the life insured commits suicide within 1 (one) year of the plan, no benefits outlined in the plan would be payable.

Prohibition of Rebates

Section 41 of the Insurance Act, 1938 states: -
(1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.

(2) Any person making default in complying with the provision of this section shall be punishable with fine, which may extend to five hundred rupees.

A rider is a clause or condition that is added on to a basic policy providing an additional benefit, and the choice of the proposer.e.g. a provision that in the event of the death of the life assured by accident, the SA would be double, can be a rider on the endowment policy.This rider can be added to a policy under any plan. The option to participate in valuation surplus can also be a rider.The additional premium for the rider of Double Accident Benefits is a constant figure, not depending on age, but this is not aplicable to all riders.

The riders may be availed of at the time of purchasing the plan, at a nominal cost. The maximum amount of benefit you can avail is equal to the basic sum assured. The aggregate premium on all value-adds should not, however, exceed 30% of the basic premium.

Term / Preferred Term Benefit

In the event of death of the life insured during the term of this benefit, the beneficiary would receive an additional death benefit amount, which is over and above the sum assured. The maximum amount of benefit that is available is equal to the basic sum assured. Where the Term Benefit cover applied for is more than Rs.10 lakhs, better rates may apply, subject to meeting eligibility requirements.

Accidental Death Benefit (ADB)

This benefit provides an additional amount (over and above the death benefit) to the beneficiary in the event of accidental death of the life insured. Accident is defined as that which causes death by violent, accidental, external and visible means and independent of any physical or mental illness.
The maximum cover available under this benefit is equal to the basic sum assured (subject to a maximum of Rs 10 lakhs)

Permanent Disability Benefit (PDB)

This benefit can be added to the basic life insurance plan to provide financial support in case of permanent disability due to an accident. Permanent Disability is defined as permanent and immediate inability to work or permanent loss of use of two limbs or total and permanent loss of sight.
The maximum cover available under this benefit is equal to the basic sum assured (subject to a maximum of Rs 10 lakhs)

Critical Illness Benefit (CIB)

This benefit can be added to the basic life insurance plan to provide financial support in the event of medical emergencies. On the first occurrence of critical illness during the term of the plan, you would receive a portion of the sum assured to help you reduce your financial burden in this emergency.
The maximum Critical Illness Benefit that you can avail of is equal to half of the basic sum assured(subject to a maximum of Rs 20 lakhs)

Exceptions

Kotak Flexi Plan, Kotak Capital Multiplier Plan, Kotak Retirement Income Plan (with cover) and the Kotak Retirement Plans (Unit-linked with cover), where the maximum Critical Illness Benefit that you can avail of is equal to the basic sum assured^ (subject to a maximum of Rs 20 lakhs)
After the Critical Illness Benefit is paid, the basic sum assured and all the benefits dependent on the basic sum assured will reduce in the same proportion that the Critical Illness Benefit bears to the basic sum assured at the time of claim.

The list of critical illnesses is

• Heart Attack (MI)
• Cancer
• Stroke
• Coronary artery by-pass graft surgery (CABG)
• Kidney failure
• Major organ transplants
• Paralysis
• Loss of limbs
• Aorta surgery
• Major burns
• Heart valve surgery
• Blindness

For Kotak Flexi Plan, SA2 or insurance sum assured.
Life Guardian Benefit (LGB)

In case of the unfortunate death of the proposer, this benefit keeps the policy alive by waiving all future premiums on the policy. This benefit can be availed of only when the life assured and proposer are two different people.
.
Accidental Disability Guardian Benefit (ADGB)

In case the policyholder is permanently disabled as a result of accident, this benefit keeps the policy alive by waiving all future premiums on the policy.

This plan keeps your employees safe and secure and a good way to show you care for your employees and their family. Its an easy renewable plan and non- participating It is secured via a single policy on the lives of all the members of the Group.

How does it benefit my Employees?

• Eliminates the risk of default in the event of death of the borrower.
• Facilitates competitive pricing for credit products and ensures a differentiating edge over your competitors.
• Significant opportunity to earn fee-income.
• Does not require a Corporate Agency or Referral tie-ups.
• Extremely cost-effective because of group pricing dynamics and premium recovered from the customer.
• Hassle-free administrative procedures

In today’s competitive market scenario, it’s tougher to keep your customers rowing towards you and who aims to retain the leadership in the market. Kotak Complete Cover Grouplan can provide your institution the required value-add to differentiate your products and make them more competitive. This plan can be customized to match your product characteristics as much as the needs of your customer and your institution.

What are the advantages to me as a credit institution?

What are the eligibility requirements?

What happens in the event of death of a borrower?

In the event of death of a borrower, the outstanding loan amount would be paid by Kotak Life Insurance as a death benefit to the credit institution.

What is maximum amount of cover allowed under the plan?

The maximum cover allowed per member will vary from group to group up to a maximum of the original value of the loan.

In what ways can the cover be expressed?

The cover can be structured to meet the Credit Institution & borrower’s needs. Generally it is expressed in terms of Original Loan Amount or Outstanding Loan Amount on the date of death etc. The choice of cover will depend on the requirements of the credit institution, the cost constraints, the type of scheme and the data that can be provided. The maximum period availed for the term cover is 30 years.

What happens if a borrower prepays his loan?

In the event of prepayment of the loan, a portion of the single-premium paid will be refunded. Further details of the premium refund formula are available upon request.

How large can a group be?

Atleast 25% of the borrowers in the group should opt for the life cover subject to a minimum of 1250 members. Kotak Life Insurance provides the option of compulsory or voluntary membership for the borrowers of credit institution. There is no restriction on the maximum number.

Are there any tax benefits?

The premium paid by the credit institution could be considered as part of business expenses and may be tax deductible. Any premium paid by a borrower in his/her capacity as an individual will be eligible for tax deduction under section 80(C) of the Income Tax Act, 1961 and they receive the benefits by the borrower’s nominee are tax free under section 10(10 D) of the Income Tax Act, 1961

When will the cover terminate?

Retain your talented employees in an effective way by introduced them a new scheme of gratuity grouplan A comprehensive and effective gratuity plan which reduce your business cost and corporate tax. By taking your needs into consideration Kotak Life Insurance has designed a gratuity management solution that not only manages your retirement liability effectively but also helps you release resources in your core business activities.

Key Highlights of Kotak Gratuity Grouplan (KGGP)

• Market-linked returns and long term investment growth (Unit-Linked Non-Participating Scheme)
• Choice of eight investment fund options.
• Switching facility amongst the available funds.
• An in-built life cover (flat cover of minimum Rs. 1,000 per member or equivalent to Future Service Gratuity) that insures your employees’ lives and provides security to their families.
• Critical Illness cover at half of accelerated additional death cover at a nominal cost.

Who can opt for KGGP?

• Employer- employee groups that fall under the purview of Payment of Gratuity Act, 1972.
• Minimum group size: 10 members.
• Minimum entry age: 18 years.
• Maximum cover age: Retirement age as specified in the Trust Rules of the employer or 65 years whichever is lower.

How does KGGP help me as an employer?

Contribution to an approved gratuity fund is deductible under section 36(1) (v) of the Income Tax Act, 1961.Income earned from investments by an approved gratuity fund is tax-exempt under section 10(25) (iv) of the Income Tax Act, 1961.

How does KGGP help my employees?

What are the other Services to look for?

How will the contributions be made?

Fresh contributions may be made into the plan at the employer’s convenience. At the end of the year, the contribution payable will be determined on the basis of the accumulated asset value and the actuarial valuation. The premium for life cover (compulsory) and critical illness cover (if selected) is payable annually in advance.

Value your employees service and guid them to get a prospective income on their retirement savings in large than ever, some employees take time to plan their long-term financial goals or make a perfect plan and systematically save for their retirement years. As an employer of choice, you can help your employees tremendously by assisting in their retirement planning cover and in turn increase employee retention. The solution lies at Kotak Life Insurance’s Superannuation Grouplan.

How does the Group Superannuation plan work?

The Kotak Superannuation Grouplan (KSGP) is a uniquely flexible product that addresses the needs of both the employers and the employees. Under this plan, individual employee accounts are invested in one or many investment portfolios on a unitized basis as per each employee’s choice. Parameters such as eligibility criteria for fund membership, vesting guidelines, contribution rates, transfer rules and voluntary contributions are all designed as per each employer’s unique needs.

How will KSGP help me as an employer?

We understand that your employees are your most valuable assets. By helping them to provide a better and convineant savings for their retirement, you help to increase employees retention and motivation. Moreover: as per the Finance Act’ 2006, annual contributions made by an approved superannuation trust upto Rs. 1,00,000 per employee can be claimed as deductible business expenses under section 115 WB (1C) read with section 115 WC (1)(b) of the Income Tax Act, 1961. Any contribution beyond the prescribed limit will qualify for Fringe Benefit Tax. Income earned on investments by an approved superannuation trust is tax-exempt under section 10 (25) (iii) of the Income Tax Act, 1961. The amount of deduction available on initial as well as ordinary annual contribution to an approved superannuation fund shall not exceed 27% (including the contribution to Provident Fund) of the employee’s annual basic salary for each year of his service under section 36 (1)(iv) of the Income Tax Act, 1961.

How does KSGP help my employees?

How do I know if my company is eligible for KSGP?

What investment options do I have?

There are a number of investment options available to your employees depending on their financial goals and risk appetite. Kotak Life Insurance offers a variety of investment funds to help your employees achieve the best investment performance of their individual needs. We offer the following eight investment options
:
Investment Option Objective Risk - Return Profile Equity Debt Cash & Money Market
Kotak Aggressive Growth Fund Aims for a high level of capital growth by holding a significant portion in equities. May experience high levels of shorter term volatility (downside risk)
Aggressive 60%-100% 0%-40%
Kotak Growth Fund 40%-80% 20%-60% 0%-20%

Kotak Group Balanced Fund Aims for moderate growth by holding a diversified mix of equities and fixed interest instruments. May also be susceptible to moderate levels of shorter-term volatility (downside risk) Moderate 30%-60% 20%-70% 0%-20%

Kotak Group Dynamic Floor Fund Aims to provide stable long term inflation beating growth over the medium to longer term and defend capital against short term capital shocks.Is likely to out-perform traditional balanced or equity funds during sideways or falling markets and shadow the rising equity markets Cautious 0%-75% 0%-100% 0%-20%

Kotak Group Bond Fund Returns will be in line with those of fixed interest instruments, and may provide little protection against unexpected inflation increases Will preserve capital and minimize downside risk, with investment in debt and government instruments. Conservative - 0%-100%
(Debt and Infrastructure securities- 25%-100%) 0%-20%

Kotak Group Floating Rate Fund - 0%-75% (Floating Rate debt instruments- 25%-100%) 0%-20% , Kotak Group Gilt Fund - 80%-100% 0%-20%

Kotak Group Money Market Fund Will protect capital and not have downside risks Secure - 100%

Note: The aggregate exposure across the portfolios selected by the clients to equities should not exceed 60% of the total market value and to cash (money market instruments) should not exceed 20%.

Investment Management Philosophy
Kotak Group’s investment philosophy works on the principles of transparency, flexibility and well-defined investment portfolios.

Unit Allocation
Allocation of contribution to each fund would be done on a unitized basis as per the prevailing IRDA guidelines.

Calculation of Net Asset Value (NAV):
(Market Value of investment held by the fund +/- the expenses incurred in the purchase/sale of assets + value of Current Assets + any accrued income net of fund management charges – value of Current Liabilities- Provisions) divided by (Number of units existing at the valuation date)

The risk profile of different asset classes is as under: Type of Asset Risk Profile are
Govt. & Govt. approved securities Low
Corporate Bonds Medium
Infrastructure as defined by IRDA Medium
Money Market and Other Liquid assets Very Low
Listed Equities High

Premium Allocation Charges
Premium allocation charge would be upto 0.5% of contribution depending on the size of contribution.

Fund Management Charges
Fund management charges vary depending on the fund size and the investment option chosen as indicated by the employer. These charges may be reviewed from time to time, up to a maximum of 2% of funds under management, with prior approval from IRDA.

Surrender Charges
In case the policyholder wants to terminate/surrender the policy, an exit fee is applicable depending upon the duration of the fund. In case a policy is terminated within 1 year, the company will charge 2% of fund value as surrender charge while the charge would be 1% of the fund value if the policy is terminated within 2 years. No exit charge will be applied if the termination occurs after 2 years.

Switching Charges
Kotak Life Insurance’s KSGP doesn’t levy any fee for switching between fund options. Thus your employees have the ability to reallocate their portfolios an unlimited number of times without incurring additional charges.

Non-forfeiture Benefits
If the employer/trustees stop paying the contributions, the existing monyies will continue to remain invested in the respective funds. The usual fund management charges will continue to be deducted. If any member retires/dies/withdraws, the cash value of the units held on his behalf will become payable in the manner provided for in the rules of the scheme.

The employer may pay the current as well as the arrears of contributions at any time. The moneys paid will be applied to purchase units in the funds chosen by the employer/trustees at the NAVs as per the scheme rules. No handling charges will apply.

Termination of Policy
The policy and/or the benefit in respect of any member can be terminated at the sole discretion of the company, if the value of the units is not sufficient to meet any charges, taxes or expenses, or if it is found that the member data provided was inaccurate or there was any material suppression of member data within the provisions of Section 45 of Insurance Act, 1938.

Free Look Period
The policyholder is offered 15 days free look period from the date of receipt of the policy.
The premium paid in Unit Linked Life Insurance policies are subject to investment risk associated with capital markets and the NAVs of the units may go up or down based on the performance of the fund and factors influencing the capital market and insured is responsible for his/ her decisions.
Please know the associated risks and the applicable charges, from your insurance agent or the intermediary or policy document of the insurer.

All benefits payable under the Policy are subject to the tax laws and other financial enactments, in force from time to time. If currently you do not have a Group Superannuation plan, you can start one today with Kotak Life Insurance! If you have an existing Group Superannuation plan you can transfer your fund to Kotak Life Insurance. We will help you with all the necessary paperwork and guide you through the process to make it hassle-free.