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.