Kotak Signature Legacy

Kotak Signature Term Plan is a non-participating, non-linked, individual pure risk / savings product. Life insurance coverage is available in this product for your family in case of your unfortunate demise.

Yes, if you feel the insurance cover is not adequate or wish to customize the protection, you can do so by attaching below mentioned optional Riders to your Base Plan on payment of additional premium.

• Kotak Accidental Disability Guardian Benefit Rider

  On accidental disability of Policyholder / Life Insured, future premiums of the plan will get waived off and the base plan will continue as it is without any change in the plan benefits.

• Kotak Permanent Disability Benefit Rider

  120% of the Rider Sum Assured shall be payable over a period of 5 years.

  For more details on Riders and exclusions please refer to the Individual Rider Brochure.

The policy term is 99 – your age at entry.

In case of an unfortunate event of death of the life insured during the policy term, provided the policy is in-force or during the Grace Period, the Claimant(s) shall receive the following:

Sum Assured on Death shall be highest of the following:

• Basic Sum Assured, OR
• Legacy Benefit, OR
• Surrender Value as on date of Insured event, OR
• 105% of Total Premiums paid^ till the date of Insured event

^{^} Total Premiums paid means total of all premiums paid under the base product, excluding any underwriting extra premiums, rider premiums and taxes but including any loadings for modal premium.

For more details on death benefit, please read the sales brochure.

In case of death of the Life Insured after completion of three (3) consecutive Policy years, from the Date of Commencement of Risk or the date of Revival of the Policy; and subject to the Policy being in force, we shall endeavour to pay an amount of ₹2 Lakh in advance to the Claimant within two (2) working days from the claim registration date.

If your policy lapses due to non-payment of premiums, you can revive it within five years by paying the outstanding premiums along with interest and providing medical evidence of continued insurability.

For more details on revival / lapse, please read the sales brochure.

You may avail of tax benefits as per the Income Tax Act, 1961 subject to conditions as specified in those sections. Tax benefits are subject to change as per tax laws. You are advised to consult your Tax Advisor for details. Goods and Services Tax and Cess, as applicable shall be levied over and above premium amount shown here as per applicable tax laws.