Kotak Classic Endowment Plan
A Participating Non-Linked Life Insurance Individual Savings Product
You always needed protection but what if you are provided with an alternative that offers an opportunity for savings and wealth accumulation as well? Kotak Classic Endowment Plan can help in fulfilling these requirements. Kotak Classic Endowment Plan is a long term protection cum savings plan that offers protection benefit while earning Bonuses during the policy term.
Key Features
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![Protection for a longer time]()
Protection for a longer time
Get protection up to the age of 75 years with this Participating endowment plan.
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![Bonus<sup>^</sup>]()
Bonus^
Earn yearly bonus from 1st policy year.
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![Convenience and flexibility]()
Convenience and flexibility
Pay premiums as per affordability and choose from a wide range of term options as per suitability.
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![More value for Money]()
More value for Money
More value for money through discount for high Sum Assured on maturity.
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![Riders]()
Riders
Option to enhance protection through a wide range of Riders.
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![Tax Benefits]()
Tax Benefits
Get tax benefits u/s Sec 80(C) and 10(10D) of the Income Tax Act.
Eligibility
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![Eligibility]()
Age criteria
- Entry age
- Minimum: 0 years| Maximum:Regular Pay: 53 years, Limited Pay 10 (except PPT 10/ PT15): 54 years, Limited Pay 7: 56 years, Policy Term minus 5 years: 60 years.
- Maturity Age: Minimum: 18 years | Maximum: Regular Pay: 70 years , Limited Pay 10 (except PPT 10/ PT15): 75 years, Limited Pay 7: 73 years, Policy Term minus 5 years: 75 years.
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![Eligibility]()
Policy
- Policy Term: 15 to 30 years
- For minors, minimum term will be greater of; 15 years or (18 years minus age at entry as on last birthday)
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![Eligibility]()
Minimum Sum Assured on maturity
- Determined on the basis of minimum premium amount, entry age, policy term and PPT
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![Eligibility]()
Premium
- Minimum:
- Regular Pay: 7,000
- Limited Pay: 7 & 10 Pay / Limited Pay of Policy term minus 5 years: Rs. 12,000
- Maximum: No limit, subject to underwriting. Determined on the basis of sum assured, entry age, policy term and PPT selected.
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![Eligibility]()
Premium Payment Details
- Premium Payment Term (PPT): Regular Pay: Equal to Policy Term,
- Limited Pay: 10 years, 7 years for policy term 15 years, Policy term less 5 years
- Premium Payment Option: Regular and Limited only
- Premium Payment Mode: Yearly, Half yearly, Quarterly, Monthly
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![Eligibility]()
Modal Factor (% of annual premium):
- Yearly - 100%, Half yearly - 51%, Quarterly - 26%, Monthly - 8.8%
Additional Protection with Optional Riders
Increase the protection level under the plan by choosing from the wide range of optional riders:
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![Additional Protection with Optional Riders]()
Kotak Accidental Death Benefit Rider
In case of death of the life insured due to accident, rider sum assured will be paid in addition to the death benefit under the base plan.
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![Additional Protection with Optional Riders]()
Kotak Permanent Disability Benefit Rider
In case of life insured being permanently disabled due to accident, benefit is paid in installments.
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![Additional Protection with Optional Riders]()
Kotak Life Guardian Benefit Rider
In case of death of the policyholder (if different from Life Insured), outstanding premiums are waived and will be paid by Kotak Life Insurance.
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![Additional Protection with Optional Riders]()
Kotak Accidental Disability Guardian Benefit Rider
In case of accidental disability, outstanding premiums are waived and will be paid by Kotak Life Insurance.
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![Additional Protection with Optional Riders]()
Kotak Term Benefit Rider
In case of death of life insured, rider sum assured will be paid in addition to death benefit under the base plan.
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![Additional Protection with Optional Riders]()
Kotak Critical Illness Plus Benefit Rider
Rider sum assured shall be payable in part or whole, in case the Life Insured is diagnosed with any one of the 37 critical illnesses (subject to terms & conditions)
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Ridera are not available with POSP variant.
Downloads
Download the brochure to know more about the plan and how it can benefit you.
Read about Tax benefits & Plan Disclaimer
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS
IRDAI or its officials do not involve in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
Tax Benefits & Disclaimers
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.
Terms & Conditions
Kotak Classic Endowment Plan UIN: 107N082V03, Kotak Term Benefit Rider UIN:- 107B003V03, Kotak Accidental Death Benefit Rider UIN:- 107B001V04, Kotak Permanent Disability Benefit Rider UIN:- 107B002V03, Kotak Critical Illness Plus Benefit Rider UIN:-107B020V02, Kotak Life Guardian Benefit Rider UIN:- 107B012V02, Kotak Accidental Disability Guardian Benefit Rider UIN:- 107B011V02.
This is a Participating Non-Linked Life Insurance Individual Savings Product.For more details on risk factors, terms & conditions please read the sales brochure carefully before concluding the sale. For more details on riders, please read the Rider Brochure. Benefits under this plan are dependent upon the performance of the participating Funds. ^Please note that Bonuses are NOT guaranteed and may be as declared by the Company from time to time. The risk factors of the bonuses projected under the product are not guaranteed. Past performance doesn’t construe any indication of future bonuses. These products are subject to the overall performance of the insurer in terms of investments, management of expenses, mortality and lapses.
Regd. Office:
Kotak Mahindra Life Insurance Company Ltd.
Reg No. 107,
CIN : U66030MH2000PLC128503 |
8th Floor, Plot # C- 12, G- Block, BKC,
Bandra (E), Mumbai -– 400051 |
Toll Free: 1800 209 8800 |
Website:www.kotaklife.com|
WhatsApp: 9321003007 | Ref. No.: KLI/24-25/E-WEB/1683
Trade Logo displayed above belongs to Kotak Mahindra Bank Limited and is used by Kotak Mahindra Life Insurance Company Ltd under license.
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