KOTAK PREMIUM RETURN PLAN

 

Overview This plan is a sure and secure insurance option without the hassles or worries of a conventional insurance plan. With minimal paperwork and procedures, you 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.    This plan is ideal for you... ·                            If you do not have a life insurance cover or are underinsured and would like to protect your family in the eventuality of you not being around yet receive all your premiums back on maturity. ·                            If you would like to cover your life without any elaborate paper-work and medical tests and with premiums being automatically deducted from your account.    Advantages ·                            Twin benefit of risk cover and savings ·                            Affordable premiums ·                            Hassle free premium payments ·                            No medical examinations    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 Maturity Benefit Premium Payment Mode Term 10 years 15 years 20 years % 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   *Plus Service Tax as applicable from time to time. Death Benefit** (Rs.'000s) Age Term - 10 years Term - 15 years Term - 20 years 18-30 290 500 700 1,050 410 660 920 730 1,000 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   ** Premiums unpaid during the year of death will be deducted from the death benefit.    Tax Benefits Section 80C, 10(10D) of Income Tax Act, 1961 would apply. Tax benefits are subject to change in tax laws. You are advised to consult your tax advisor for details. For more details on terms and conditions please download the product brochure. UIN No.: 107N022V01         Subscribe to FINVESTguru Email: Visit this group