Kotak Early Defined Guaranteed Earnings (EDGE)

Kotak Early Defined Guaranteed Earnings is a life insurance savings plan that offers Guaranteed^@ Income starting as soon as from 13th month onwards. It helps you build a secure financial future by providing regular income amount at maturity.

This plan gives you flexibility to choose from 2 plan options, on inception.

Insta Income:

Policyholder will have the choice to receive Insta Cashback as 20% or 30% or 50% of the Annualized Premium within 7 working days from the Policy Issuance Date.

Further, Guaranteed^@ Income shall commence after the end of Deferment Period and shall be paid till the end of Policy Term. At the end of Policy Term, Sum Assured on Maturity will be paid in lump sum to the Policyholder.

Early Income:

Guaranteed^@ Income shall commence after the end of Deferment Period and shall be paid till the end of Policy Term. At the end of Policy Term, Sum Assured on Maturity will be paid in lump sum to the Policyholder.

Any individual between the age of 91 days to 55 years can buy this plan.

Customer can purchase this plan with minimum annualized premium of ₹50,000 p.a.

Yes, you can decide to defer the Guaranteed Income by opting deferment period of 1 to 5 years

Yes, Policyholder will have the option to accrue up to 100% of Guaranteed Income receivable in the Policy & withdraw it as and when required during the Policy Term.

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

Yes, customers can choose to pay their premiums in different ways—yearly, half-yearly, quarterly, or monthly in Early Income Option and Yearly in Insta Income Option.

Early Income Plan Option has the option to change the payment mode every year on the policy anniversary, making it easy to fit payments into their budget.

On survival of Life Insured till the end of the Policy Term, provided the policy is in force

Under Insta Income & Early Income: -

• Sum Assured on Maturity^$ plus
• Accumulated Guaranteed Income, if any (in case opted for ‘Accrual of Guaranteed Income’ option)

^$Sum Assured on Maturity is Annualized Premium X Premium Payment Term.

On survival of Life Insured during the Policy Term

Under Insta Income: -

• Insta Cashback shall be paid to policyholder within seven working days from the Policy Issuance Date
• Guaranteed^@ Income shall commence after the end of Deferment Period and shall be paid till the end of Policy Term.

Under Early Income: -

• Guaranteed^@ Income shall commence after the end of Deferment Period and shall be paid till the end of Policy Term.

The Company will pay the Guaranteed^@ Income benefit only on survival of Life Insured. In case of death of Life Insured during Policy Term and before Policy Maturity Date, the future instalments of Guaranteed^@ Income, if any, will cease and Death Benefit shall be payable by company.

In case of an unfortunate event of death of the life insured during the term of the plan, provided all due premiums are paid or policy is within grace period, your nominee will receive the following death benefit

Death Benefit under plan option Insta Income & Early Income will be higher of:

• Sum Assured on Death Plus Accumulated Guaranteed Income, if any, (in case opted for Accrual of Guaranteed Income)
• 105% of Total Premiums Paid (plus underwriting extra premium, if any) till the date of death
• Surrender Value as on the date of death

Refer product brochure for further details on Death Benefit.

Loans can be availed under this plan through Kotak Life Insurance up to the limit of 80% of the Surrender Value of the policy. The Company shall determine the rate of interest from time to time. Currently the interest rate is 8.75823% p.a., but it can be revised from time to time.

^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.