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Kotak POS Bachat Bima

A Non-Linked Non-Participating Life Insurance plan

Kotak Life Insurance presents a simple savings and protection oriented plan, which provides all guaranteed benefits while giving life insurance cover – Kotak POS Bachat Bima. The plan provides options for life insurance coverage to suit your needs along with providing guaranteed benefits. The plan is not only simple to understand but also will be easy to purchase.

How it works

  • insurence plan

    Mr. Naidu, 30 years, decides to invest in ‘Life’ Plan Option with an Annual Premium* of Rs. 25,000 for a policy term of 20 years and a Basic Sum Assured of Rs. 3,48,728

  • insurence plan

    At the end of 5 years, Total premiums paid will be Rs. 125,000 while accrued Guaranteed Yearly Additions will be Rs. 18,750

    At the end of 10 years (i.e. end of PPT), Total premiums paid will be Rs. 250,000 while accrued Guaranteed Yearly Additions at the end of 10th year and 15th year would be Rs. 37,500 and Rs. 56,250 respectively

  • insurence plan

    At the end of the policy term, Maturity Benefit payable will be equal to the sum of: [Basic Sum Assured (Rs. 3,48,728) PLUS accrued Guaranteed Yearly Additions (Rs. 75,000) PLUS Guaranteed Loyalty Addition (Rs. 43,750)] = Rs. 4,67,478

  • insurence plan

    In case of an unfortunate event of Mr. Naidu’s death during the term of the plan, his nominee would receive Sum Assured on Death + Accrued Guaranteed Yearly Additions (till the date of death)

    * Above Premium figures are exclusive of Goods and Services Tax and Cess. Goods and Services Tax and Cess thereon, shall be charged as per the prevalent tax laws over and above the said premiums.

Key Features

  • Plan options to choose from – Life & Life Plus

    Plan options to choose from – Life & Life Plus

  • Double protection cover on accidental death with Life Plus option

    Double protection cover on accidental death with Life Plus option

  • @ Guaranteed Yearly Additions accruing throughout the policy term

    @ Guaranteed Yearly Additions accruing throughout the policy term

  • @ Guaranteed Loyalty Addition payable on maturity

    @ Guaranteed Loyalty Addition payable on maturity

  • Limited premium payment terms of 8 & 10 years

    Limited premium payment terms of 8 & 10 years

Eligibility

  • Eligibility

    Entry Age (last birthday)

    • Minimum: 12 years
    • Maximum: 45 years

  • Eligibility

    Maturity Age (last birthday)

    • Minimum: 28 years
    • Maximum: 65 years

  • Eligibility

    Policy Term (Fixed)

    • 16 years / 20 years
  • Eligibility

    Premium Levels

    • Minimum: Rs. 15,000 p.a.
    • Maximum: Based on maximum Basic Sum Assured capped at Rs. 10 lakhs subject to Underwriting acceptance

  • Eligibility

    Premium Payment Term (PPT)

    • Limited: PPT Policy Term
    • 8 years 16 years
    • 10 years 20 years

  • Eligibility

    Premium Payment Mode

    • Yearly, Half yearly, Quarterly, Monthly
  • Eligibility

    Premium Modal Factor

    • Following modal factors will be used to calculate installment Premium:
    • Yearly – 100% , Half yearly – 51% , Quarterly – 26% , Monthly – 8.8%

  • Eligibility

    Basic Sum Assured

    • Will be derived based on Premium, Age, Policy Term and Plan Option chosen.
    • Maximum Basic Sum Assured : Rs.10 Lacs per Life Insured

Downloads

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Call on retail toll free number 1800 209 8800
Timings : 08:00 AM to 10:00 PM (Monday to Saturday) (excluding public holidays)

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Get Answers to the commonly asked questions

Policy FAQs

Read about Tax benefits & Plan Disclaimer

Tax Benefits & Disclaimers

You may avail of tax benefits under Section 80C and Section 10(10D) of Income Tax Act, 1961 subject to conditions as specified in those sections. Tax laws are subject to amendments from time to time. Customer is advised to take an independent view from tax consultant. Goods and Services Tax and Cess as applicable shall be levied over and above premium amount shown here as per applicable tax laws.

Terms & Conditions:

@ Guaranteed benefits due under this plan are available provided premiums are paid regularly for the entire premium payment term and the policy is in force. This is a non-linked, non-participating endowment plan. This is a saving and protection oriented plan. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.

Kotak POS Bachat Bima UIN: 107N117V01, Form No: N117, Ref. No.: KLI/19-20/E-WEB/297

Kotak Mahindra Life Insurance Company Ltd. ; Regn. No.: 107, CIN: U66030MH2000PLC128503, Regd. Office: 8th Floor, Plot # C- 12, G- Block, BKC, Bandra (E), Mumbai - 400 051. Website: https://insurance.kotak.com Email:clientservicedesk@kotak.com. Toll Free No. – 1800 209 8800

BEWARE OF SPURIOUS / FRAUD PHONE CALLS

IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

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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