Kotak Headstart Child Assure is a unit-linked life insurance plan. This popular child plan is designed for the benefit of the child where the parent is the life insured. It offers dual benefits of protection and wealth creation. The plan helps in systematic investment to build a corpus for the child’s future. It helps the child realise his/ her dreams even in a scenario where the parent is not alive. The child plan offers financial security to the child through ‘triple benefit’ in the event of the death of the life insured parent.
Insurer pays your premiums in your absence
Invest ₹10k/month and your child gets ₹1 Cr tax free*
Save upto ₹46,800 in tax under Section 80(C)
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Invest ₹10k/month your child will get ₹1 Cr Tax Free*
Death Benefit is higher of the following:
The future premiums are waived off and added to the Fund Value. The policy continues and the Fund Value is paid at maturity.
|
Minimum |
Maximum |
Entry Age (last birthday) |
18 years |
60 years |
Maturity Age (last birthday) |
28 years |
70 years |
Policy Term |
-10 years, 15 to 25 years The minimum policy term is greater of: -10 years-18 years minus age on last birthday of the beneficiary, on the date of commencement To ensure that the policy matures when the beneficiary has attained the age of majority. Where 18 minus age on last birthday on the date of commencement lies between two available policy terms, the next higher policy term is offered. |
|
Basic Sum Assured |
If the entry age is less than 45 years, the minimum Basic Sum Assured is higher of: -10 x Annual Premium-0.5 x Policy Term x Annual Premium If the entry age is 45 years or above, the minimum Basic Sum Assured is higher of: -7 x Annual Premium-0.25 x Policy Term x Annual Premium |
25 x Annual Premium |
Premium Payment Term |
Regular: Equal to the policy term -5 years for a 10 year policy term |
|
Premium Payment Mode |
Annual and Semi-Annual |
|
Premium Amount |
Regular Premium: Rs. 20,000 per annum -For a 5 year premium payment term: Rs. 50,000 per annum |
- |
Benefit illustration @8%
Age (Yrs) |
Policy Term (Yrs) |
Annual Premium (Rs.) |
Premium Allocation Charge (Rs.) |
Mortality Charges (Rs.) |
Policy Admin Charge (Rs.) |
Fund Management Charge (Rs.) |
Fund at the end (Rs.) |
Surrender Value (Rs.) |
Death Benefit (Rs.) |
30 |
1 |
80000 |
4800 |
1457 |
2400 |
805 |
74954 |
70457 |
1194954 |
31 |
2 |
80000 |
2400 |
1353 |
2400 |
1672 |
157960 |
154760 |
1197960 |
32 |
3 |
80000 |
2400 |
1275 |
2400 |
2598 |
246606 |
244206 |
1206606 |
33 |
4 |
80000 |
2400 |
1205 |
2400 |
3586 |
341259 |
339659 |
1221259 |
34 |
5 |
80000 |
2400 |
1140 |
2400 |
4642 |
442315 |
442315 |
1242315 |
35 |
6 |
0 |
0 |
1197 |
2400 |
4907 |
467630 |
467630 |
1267630 |
36 |
7 |
0 |
0 |
1265 |
2400 |
5189 |
494556 |
494556 |
1294556 |
37 |
8 |
0 |
0 |
1345 |
2400 |
5489 |
523188 |
523188 |
1323188 |
38 |
9 |
0 |
0 |
1437 |
2400 |
5807 |
553625 |
553625 |
1353625 |
39 |
10 |
0 |
0 |
1541 |
2400 |
6146 |
585973 |
|
|
The policyholder has to fill up an ‘Application form ’with identity proof, bank account proof, address proof and a recent photograph. Select cases may require income proof and medical examination.
You may also like to read : Kotak Life Child Insurance Plans |