Kotak Premier Endowment Plan

Kotak Premier Endowment plan is a traditional Endowment plan developed with a long term perspective to build a strong corpus for the policyholder and his family. This Endowment plan also provides life insurance coverage.

Best Investment Plans
  • Save Upto ₹46,800 in tax under Sec 80C

  • Inbuilt Life Cover

  • Tax Free Returns Unlike FD+

Buy Online & Get upto 4% extra#
Get Guaranteed returns along with life cover
invest in 100% Guaranteed Return Plans Tax benefits under sec 80C & No Tax on returns*
+91
Secure
We don’t spam
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs
Get Updates on WhatsApp
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

Kotak Premier Endowment Plan - Key Features

  • It is a non-participating plan with regular and limited premium payment option
  • Guaranteed Additions are paid annually for the first five policy years
  • Bonuses accrue from the 6th policy year onwards
  • Interim Bonus, Simple Reversionary Bonus, Terminal Bonus and the Guaranteed Additions increase the corpus substantially. 

Kotak Premier Endowment Plan - Benefits

  • Guaranteed Additions @ 5% of Sum Assured are paid in the first five policy years
  • On death of the policyholder, the Minimum Death Benefit plus accrued Guaranteed Additions + accrued Reversionary Bonuses + Terminal Bonus, if any, is paid.
  • The Minimum Death Benefit is higher of the basic SA or 11 or 7 times (depending on age) the annual premium or 105% of all premiums paid till date of death.
  • On Maturity, basic SA + accrued Guaranteed Additions + accrued Reversionary bonuses + Terminal Bonus, if any, is paid.
  • Under the Settlement option, 50% of the Maturity Benefit can be availed on maturity, and the balance can be taken in a series of regular instalments over a period of 5 or 10 years.
  • The nominee can also exercise the Settlement Option in case of unfortunate demise of the life insured.
  • Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act. 
 

Kotak Premier Endowment Plan - Product Specification:

 

Minimum

Maximum

Entry Age (Last Birthday)

18 years

60 years 

Maturity Age (Last Birthday)

-

70 years

Policy Term (PT) in years

10

30

Premium Paying Term (PPT) in years

Regular Pay – equal to policy term

Limited Pay – 5, 7, 10, 15

Premium Paying Frequency

Annual, half-yearly, quarterly, monthly

Yearly Premium

Regular Pay - 8,000

Limited Pay – 15,000

No limit

Sum Assured

Depends on premium, age, term and PPT

 

Details About Premium

Annual premium in Rupees

Age

Policy Term

Premium

Sum Assured

18 years

10 years

8000

63,755

18 years

30 years

8000

200,904

60 years

10 years

8000

61,317

Kotak Premier Endowment Plan - Policy Details

Grace Period: 15 days’ grace period is allowed for premium payment in monthly mode and 30 days in other modes.

The policy lapses if the insured surpasses the grace period to make payments.

Policy Termination or Surrender Benefit: Policy taker is allowed to surrender the policy provided that he or she pays the complete premium for 2 or 3 years’.

The Surrender Value will be higher of the Guaranteed Surrender Value or the Special Surrender Value.

GSV = GSV Factor * Basic premiums paid including GSV of the accrued Guaranteed bonuses and Additions.

Free Look Period:

Those who have opted for the policy, but are not yet sure about the terms and conditions of the policy have fifteen days so as to know the policy thoroughly before confirming. After this period the policyholder can also cancel the policy if they have yet not claimed any amount.

Inclusions

The loan is provided under the plan to a maximum of 80% of the Surrender Value with a minimum amount of Rs.10,000.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Add-ons or Riders

There are six riders available under the plan:

  • Kotak Term / Preferred Term Benefit
  • Kotak Accidental Death Benefit
  • Kotak Permanent Disability Benefit
  • Kotak Critical Illness Benefit
  • Kotak Life Guardian Benefit’
  • Kotak Accidental Disability Guardian Benefit 

There is a discount in premium for choosing high coverage of 5 lakhs and above @ 0.2% of the SA

Exclusions

The nominee gets only 80% of the premium if the policyholder commits suicide within 12 months of the taking up the policy. Moreover, in another case, if the policyholder commits suicide within 12 months of revival, then the user gets to receive higher of the Surrender Value or premiums paid. 

Documents to take the policy

To take the policy, you need to fill up a proposal or an Application form along with accurate medical history as well as documents supporting your address and other KYC documents. You might also require medical examination in certain cases depending on the age of the person opting for the policy or the sum assured.

You May Also Compare: Kotak Premier Investment Plan

FAQ's

*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

Investment Plan
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Invest More Get More!
You Get
₹1 Crores*
You Invest
₹10K/month
You Get
₹80 Lakhs*
You Invest
₹8K/month
You Get
₹50 Lakhs*
You Invest
₹5K/month
Average Rating
(Based on 0 Reviews)
Investment Plan 3

Investment plans articles

Recent Articles
Popular Articles
Government Bonds

09 May 2024

Government bonds are debt securities issued by a government to
Read more
Monthly Investment Plan

07 May 2024

Monthly Investment Plans are financial products where investors
Read more
SBI NRI Account

07 Feb 2024

The State Bank of India (SBI) NRI account is designed for
Read more
How Thanks giving and Black Friday Affect The Indian Stock Market?

23 Nov 2023

Black Friday and Thanksgiving mark the beginning of the holiday
Read more
Axis Bank NRI Account

11 Oct 2023

The Axis Bank NRI Account is a gateway to seamless banking
Read more
20 Best Investment Options in India in 2024
Investing in the best investment options in India helps to maximize your returns and fulfill your immediate and
Read more
Best NRE Savings Accounts for NRIs in 2024
India is a growing economy and is getting a lot of global recognition these days. It has shown immense growth in
Read more
Short Term Investments Options
Short-term investments are financial assets that can be easily converted to cash within a short period, ranging
Read more
How to Change Mobile Number in Post Office Account Online?
Indian Post Payment Bank (IPPB) is the banking division of the Department of Post (Ministry of Communications)
Read more
Post Office Senior Citizen Savings Scheme (SCSS) 2024
The Post Office Senior Citizen Savings Scheme (SCSS) is a government- backed scheme designed specifically for
Read more

top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL