Kotak e-Term Plan
Kotak e-Term Plan provides a high level of protection to your loved ones in your absence.
Kotak E-Invest Plan
Kotak e-Invest plan is a complete Unit-Linked Insurance Plan that can be customized as per your goals and needs.
Kotak Guaranteed Savings Plan
Kotak Guaranteed Savings Plan is a savings and protection plan that helps you achieve long-term financial goals and provides an insurance cover against any eventuality.
Kotak Lifetime Income Plan
Kotak Lifetime Income Plan gives you the security of your income continuing thru your life and in your absence throughout your spouse's lifetime!
Kotak Health Shield
Kotak Health Shield Plan helps secure your finances in sudden medical expenses such as Cardiac, Liver, Neuro, and Cancer (all early and significant illness stages/conditions of cancer), along with offering protection for personal accidents - in case of accidental death or disability.
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The dreams of your children are as precious to you as they are to them. Our unique Child Plan offers to help you plan for your child’s dreams in advance.
Secure future for your children
Power to realize their dreams
Benefits of investments
Peace of mind
A child insurance plan combines insurance with a savings plan and secures your child’s future against financial constraints. As a parent, you want to ensure your child lives in comfort and receives the financial support necessary to reach their full potential in life. And achieving this goal requires careful financial planning.
Child savings plans are useful financial tools that help build an investment corpus. The fund helps meet the expenses for the major milestones in your child’s life. Moreover, in the case of an unfortunate event, your child receives the claim amount. It can cover education expenses and other living costs and enable them to fulfil their aspirations.
A child saving plan is a contract with insurance provider, with you as the policyholder and your child as the nominee.
First, you need to decide the cover amount you want your child to receive in case of an eventuality to enable them to live the life you want for them. Next, you have to determine the duration for which your child might need financial support. Provider will assign a premium amount accordingly. You can make a one-time, lump-sum payment or regular payments for the pre-specified period.
If an unwanted event occurs, insurance company pays the prearranged sum assured to your child. The mode of payment depends on your choice of the policy and payout. While some policies offer regular payouts as an alternative income source for your family, others may offer a lump sum payout.
The best investment plans for children also offer premium waivers in case of an unfortunate incident, whereby insurance company pays all future premiums and hands over the fund value at maturity to your nominee.
In case of survival until the end of the policy term, you will receive a sizeable amount as maturity benefit that can help you fulfil your child’s long-term goals.
1. Sum assured:
This is the sum that your child will receive in case of an unforeseen event. You should select the sum based on the amount they will need to complete their education and live without any financial limitations.
2. Premium:
You need to pay this amount, based on the sum assured of you choose , for keeping the insurance in force.
3. Policy term:
It is the duration of financial cover, from the policy start date to the date of maturity. It depends on the time for which your child will need financial support.
4. Premium payment mode:
You can choose to pay the entire premium at one go or pay regular premiums on an annual, half-yearly, quarterly, or monthly basis as per your finances.
5. Maturity amount:
Insurance company pays this amount at the end of the policy term.
6. Premium waiver:
In case of your demise, the policy does not lapse. Insurance company continues to bear the remaining premiums until maturity. Your child receives the maturity value when the policy tenure ends.
7. Partial withdrawal:
If you invest in a unit-linked insurance policy for your child’s future benefits, you can withdraw parts of your fund value after five years.
Children’s savings plan offers a wide range of benefits, listed below:
1. Helps meet your children’s education cost:
Recent studies reveal that general education cost in India has undergone a fourfold hike. Also, professional course expenditures increased by 50% between 2007 and 2018. These numbers indicate that the price of higher education will skyrocket by the time your child attains the age for college admission. Regular investments in a children savings plan can help you amass the necessary funds to provide quality education to your children.
2. Covers the costs of medical treatments for your children:
Healthcare costs in India are increasing at twice the overall retail inflation rate. Hence, it is crucial to plan for unforeseen health complications. And the returns from your child plan policy can take care of the treatment costs, helping you provide adequate medical assistance to your child in health emergencies.
3. Acts as a shield against financial shortfalls even in your absence:
Proceeds from the child plan investment enable your child to complete their education pursue their career goals even if something unwanted happens.
4. Offers liquidity in cash crunches and provides for your child’s immediate needs:
You can raise funds in an emergency by taking loans against your child’s policy or liquidating part of the fund value.
5. Child plans provide tax benefits:
You can avail of deductions up to Rs. 1.5 lakhs from your taxable income under Section 80C of the Income Tax Act, 1961, for the premiums you pay towards your child insurance policy. The returns are also tax-exempt, provided the policy satisfies the regulations under 10(10D).
Different policies have different eligibility requirements. The criteria are based on the following parameters:
Contact us to discuss your exact requirements and decide on the best investment plan for your child, matching your specific needs.
Send a "Hi" to 93210 03007, from your registered mobile number.
Call our toll free number and our representative will help you buy the most suitable plan.