Kotak Assured Savings Plan is a simple life insurance savings plan that offers Guaranteed^@ returns when you pay all your premiums on time. It helps you build a secure financial future by providing a lump sum amount at maturity. This plan supports important goals like funding your child’s education, buying a home, planning for marriage, or securing your retirement, giving you peace of mind along the way.

You pay premiums every year for the selected Premium Payment Term. After this term ends, the policy continues until maturity. At maturity, you receive the Guaranteed^@ Maturity Benefit, which includes the Basic Sum Assured (BSA), Accrued Guaranteed^@ Yearly^¹ Additions (GYA), and Guaranteed^@ Loyalty^² Addition (GLA). The Basic Sum Assured depends on your premium, policy term, premium payment term, and age.

Any individual between the age of 3 years to 60 years can buy this plan.

Customer can purchase this plan with minimum annualized premium of ₹20,000 p.a.

Annualized Premium refers to the total premium amount you need to pay in one policy year. It does not include any extra charges like taxes, premiums for optional riders, additional underwriting premiums, or any extra fees that apply based on how often you pay (known as modal loadings). For example, if you pay ₹51,000 every six months (half-yearly), this amount represents 51% of the full annual premium. So, your Annualized Premium is ₹100,000, which means if you paid once a year, you would pay ₹100,000 in total.

Customers can choose from several combinations of Premium Payment Term (PPT) and Policy Term (PT) under this plan. The available options are:

Example:

If you select a Premium Payment Term of 5 years and a Policy Term of 15 years, you will pay premiums for 5 years, but your policy coverage and benefits will continue for 15 years. After paying all premiums, you will receive the maturity benefit at the end of the 15-year policy term.

Yes, customers can choose to pay their premiums in different ways—yearly, half-yearly, quarterly, or monthly. They also have the option to change the payment mode every year on the policy anniversary, making it easy to fit payments into their budget.

On survival till the end of the policy term, Guaranteed^@ Maturity Benefit will be paid provided the policy is in force and all premiums are paid.

Guaranteed^@ Maturity Benefit is;

• SBasic Sum Assured, PLUS
• Accrued Guaranteed^@ Yearly¹ Additions, PLUS Guaranteed^@ Loyalty² Addition.

In case of an unfortunate event of death of the life insured during the term of the plan, your nominee will receive the following death benefit higher of (a) or (b),

(a) Basic Death Benefit, Plus Guaranteed^@ Yearly¹ Additions accrued as on the date of death.

(b) 105% of all premium paid (excluding extra premium, if any) till the date of death.

Loans can be availed under this plan through Kotak Life Insurance up to the limit of 50% of the Surrender Value of the policy. The Company shall determine the rate of interest from time to time. Currently the interest rate is 8.95% p.a., but it can be revised from time to time as per IRDAI approved methodology.

Tax benefits are subject to conditions specified as per Income-Tax Act, 1961. Tax laws are subject to amendments from time to time. Customer is advised to take an independent view from tax consultant.