Kotak Rising Star

Kotak Rising Star is a Unit-Linked Endowment life insurance plan from Kotak Mahindra Bank for children's future needs. It ensures financial security through investment growth, a guaranteed death benefit, and a monthly income in case of the parent's demise. Future premiums are waived in such an event, ensuring the policy continues till maturity, providing a planned lump sum at maturity for the child's long-term goals.

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Investing in your child's future:A wise decision & a loving choice
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

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Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr Tax Free*

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What is Kotak Rising Star?

Kotak Rising Star is a child insurance plan offered by Kotak Mahindra Bank. It's designed to help you secure your child's future financially, for various milestones like education and marriage. The plan offers financial security through investment growth, guaranteed death benefit (a lump sum payout in case of the parent's demise), and a monthly income for the family to bridge the financial gap. Even in the unfortunate event of the parent's passing, all future premiums are waived, yet the policy continues till maturity. This ensures a steady flow of funds and a guaranteed yearly increase in the corpus, ultimately providing a planned lump sum amount upon maturity to help your child achieve their long-term goals.

Features of Kotak Rising Star

Here are its key features:

  • Financial Security: The invested amount grows over time, maximizing returns for your child's future needs.

  • Guaranteed Death Benefit: In case of your unfortunate passing, a lump sum amount (Basic Sum Assured) is paid to your child (beneficiary) or appointee (if the child is a minor).

  • Regular Income: Following your demise, the plan provides a monthly income for a period of 3 to 10 years, ensuring a steady flow of funds for your family.

  • Continued Policy: Kotak waives off all future premiums, yet the policy continues till maturity, with guaranteed yearly additions continuing to grow the corpus.

  • Maturity Benefit: Upon policy maturity, the accumulated corpus is paid to your child, helping them achieve their long-term goals.

People also read: Kotak Life Child Plan

Kotak Rising Star offers a triple protection benefit:

  • Lump sum payout in case of parent's death.

  • Monthly income to bridge the financial gap.

  • Policy continuation till maturity to ensure a planned corpus for your child's future.

Eligibility Criteria for Kotak Rising Star

Parameters Minimum Maximum
Entry Age 18 years  50 years
Maturity Age 28 years  60 years
Policy Term  10 years / 12 years / 15 years / 20 years
Premium Payment Term (PPT) 
Category  PPT Policy Term 
Regular Regular 10 / 12 / 15 / 20 years
Limited 5, 7 years 10 /12 /15 /20 years
10 years 12/ 15 / 20 years
Premium Amount  Yearly: ₹24,000
Half-Yearly: ₹12,000
Quarterly: ₹6,000
Monthly: ₹2,000
No Limit
Sum Assured  10 times AP
Mode Yearly, Half-Yearly, Quarterly, Monthly

Investment Investment
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Secure your child’s future with or without you
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₹10,000/Month
& Get
₹1 Crore*
*Standard T & C Apply

People also read: Child Education Plan

Benefits of Kotak Rising Star

The benefits of Kotak Rising Star are:

  1. Maturity Benefit:

    • Receive the fund value accumulated throughout the policy term, including yearly additions, upon maturity.

    • This benefit is paid irrespective of your survival as long as premiums are paid on time. This offers peace of mind, knowing your loved ones will receive a payout even if you pass away before the policy matures.

  2. Death Benefit:

    • In case of your unfortunate demise during the policy term, your beneficiary will receive a lump sum amount. This amount is the higher of:

      • Basic Sum Assured

      • 105% of total premiums paid until death

    • This benefit is reduced by any partial withdrawals made from the policy.

  3. Additional Income for Your Beneficiary:

    • Along with the lump sum amount, your beneficiary will receive a regular monthly income. This income starts from the month following the lump sum payment and continues for the remaining policy term.

    • The monthly payout is 1% of the Basic Sum Assured.

    • This benefit ensures your loved ones have a steady income stream to manage their finances in your absence. The minimum payout term is 3 years (36 installments), and the maximum is 10 years (120 installments).

  4. Flexibility for Beneficiary:

    • Your beneficiary can receive the future monthly income as a lump sum amount. This lump sum will be discounted at a rate of 5% per annum (subject to change by the company with regulatory approval).

  5. Tax Benefits:

    • The Kotak Rising Star plan may offer tax benefits under the Income Tax Act, 1961. However, tax laws are subject to change. It's recommended to consult a tax advisor for personalized advice on your potential tax savings.

Invest More Get More
Invest ₹10K/Month YOU GET ₹1 Crores* For Your Child View Plans
Invest ₹8K/Month YOU GET ₹80 Lakhs* For Your Child View Plans
Invest ₹5K/Month YOU GET ₹50 Lakhs* For Your Child View Plans
Standard T&C Apply *

People also read: Child Investment Plans

Policy Details of Kotak Rising Star Plan

  1. Grace Period:

    • 30 days for annual, half-yearly, and quarterly payments.

    • 15 days for monthly payments.

    • Policy remains in force during the grace period.

  2. Partial Withdrawals:

    • Allowed after 5 years (lock-in period).

    • Minimum withdrawal: ₹5,000 in multiples of ₹1,000.

    • Minimum fund value after withdrawal: 105% of total premiums paid.

    • Reduces death benefit for withdrawals in the past 2 years.

    • Not allowed during policy discontinuation or settlement.

    • Allowed during reduced paid-up status.

    • Cannot be used to terminate the policy.

  3. Policy Loans:

    • Not available under this plan.

  4. Free Look Period:

    • 15 days (30 days for electronic/distance marketing policies) to review the policy and get a refund if not satisfied.

    • Refund includes non-allocated premium, fund value, minus charges.

FAQs

  • What lump sum amount is paid upon the Life Insured's death?

    The beneficiary receives the higher of the Basic Sum Assured or 105% of the total premiums paid till the date of death, minus applicable partial withdrawals. This amount is paid as a lump sum.
  • Are there any additional benefits after the lump sum payment?

    Yes, the beneficiary also receives a Regular Monthly Income over the outstanding policy term. This income starts from the month following the lump sum payment and continues for a minimum of 36 installments and a maximum of 120 installments.
  • What happens to the policy after the Life Insured's death?

    The policy remains active, and all future premiums are waived. These waived premiums are added to the Fund as of the date of claim settlement.
  • How is the Regular Monthly Income calculated and paid?

    The beneficiary receives 1% of the Basic Sum Assured as a monthly income, starting from the policy month till the date of death. Additionally, the beneficiary has the option to receive future Monthly Income as a lump sum, discounted at 5% per annum. Note that the discount rate may change based on the company's decision with prior approval from IRDAI.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.

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(Based on 28 Reviews)

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Kotak Life Child Plans Reviews & Ratings

4.3 / 5 (Based on 28 Reviews)
(Showing Newest 10 reviews)
Daksha
Lakhimpur, March 31, 2021
Loaded with benefits
The child insurance plan which I have bought last year for my son has been loaded with so many benefits. I wanted to secure my child’s future and want to provide with best higher education and that’s the only way to do so. Thanks kotak and policybazaar.
Raman
K.b.p. Pupri, March 30, 2021
Purchase online
It is easy to buy a child insurance plan online. A kotak child insurance plan is a must buy and I am happy that my child will won’t face any trouble in his future. All thanks to policybazaar.
Sukhveer
Ummulong, March 16, 2021
Secured my child’s future
I have secured my child’s future by getting a home insurance policy of kotak life.I bought this while searching few of the child plans into the policybazaar site. It is safe and secure.
Bhram
Bachrawa, March 09, 2021
Plan and invest
I have planned for my daughter’s education in a very well way. I found out the kotak life child insurance plan from the website of the policybazaar. It is very easy to go for a child insurance plan. Thanks a lot policybazaar.
Babanpreet
Jaspur, July 20, 2016
Future Saving Plan
Kotak life insurance provides me the best child plan in low premiums. Service of the term is great and claiming become easy and so simple. Policy coverage and claims are high and investments are less. Good future security which comes with amy benefits.
Sweety
Kherwara, July 11, 2016
Child Plan
My child insurance plan is good and it has low premiums which is very nice. The policy cover maximum expenditures for my child's future. Claims are high and easily sanctioned due to quick service provided by the company members.
Manoj
Agartala, June 29, 2016
Good
I bought child insurance plan for my child. The insurance policy has very low premiums. Policy coverage is good and claims are high. Service is fantastic, web service is also easy to access. It reduces paperwork. Hassle free documentations.
Lakshay
Jaipur, April 26, 2016
Poor Policy
The kotak life child plan i have is not that good. Policy coverage is 69% and claims are normal. Service is not fast and waiting is usual. Premiums are high. I must say poor child policy plan. Not Satisfied.
Tarun
Nagpur, April 26, 2016
Great Deal
Superb child policy plan which provided by kotak life child plan. The policy coverage is 86% and the claims are ~Rs.34 L. The investment is ~Rs.16 K trice per year till policy end. Services are great and fast too.
Umakant
Lucknow, April 26, 2016
Tax Saver
My child policy plan is very good and the insurer is kotak mahindra life insurance. The policy has many benefits like good investments for future and it save taxes also. Policy coverage is 86% and the claims are around 30 L after policy ends.
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