Kotak Premier Money Back Plan

Kotak Premier Moneyback Plan is a participating, savings cum protection plan. This limited pay plan provides lump-sum cash payouts at periodic intervals throughout the policy term to meet interim financial requirements. Savings grow with yearly reversionary bonuses and a lump-sum maturity addition. The plan offers superior life protection as it includes death due to an accident in which case an additional Basic Sum Assured is paid along with the Death Benefit. It offers a choice of fixed policy term of 16, 20 and 24 years.

Read more
kapil-sharma
  • 4.8~ Rated
  • 7.7 Crore Registered Consumer
  • 50 Partners Insurance Partners
  • 4.2 Crore Policies Sold

Investment Plans

  • Guaranteed Tax Savings^Under sec 80C & 10(10D)
  • Under sec 80C & 10(10D)Invest ₹10k Per Month*
  • Zero LTCG Tax^
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
7.7 Crore
Registered Consumer
50
Insurance Partners
4.2 Crore
Policies Sold
Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Kotak Premier Moneyback Plan - Key Features

  • Regular Payouts: The plan provides regular cash backs at equal intervals as a percentage of the Basic Sum Assured depending on the chosen policy term. The remaining Sum Assured is paid at policy maturity. These payouts help meet requirements at different stages in life during the policy term.
  • Maturity Addition: Maturity Addition is paid as a lump-sum benefit along with the final payout at the end of the policy term. It is determined as a percentage of the Basic Sum Assured and differs based on the chosen policy tenure.
  • In-Built Accidental Death Benefit: The plan also covers accidental death and offers it as a standard feature. In the event of the death of the life insured as a result of an accident, an additional Basic Sum Assured is paid along the Death Benefit.
  • High Sum Assured Discount: The plan offers a premium discount for large Sum Assured amounts where the Sum Assured is greater than or equal to Rs. 5 lakh. The discount is to the tune of Rs. 2 per Rs. 1,000 of Sum Assured.
  • Additional Protection through Riders:The plan offers a choice of 3 optional riders which help increase the level of protection. These can be opted for by paying reasonable additional premiums.
    • Kotak Term Rider (KTB): This rider provides an additional death cover over and above the Death Benefit of the base plan
    • Kotak Life Guardian Benefit Rider (LGB): This rider waves off the future insurance premiums in case of death of the life insured. The remaining premiums are paid by the insurance company on behalf of the policyholder.
    • Kotak Accidental Disability Guardian Benefit Rider (ADGB): This rider waves off the future insurance premiums in case the life insured becomes disabled as a result of an accident. The remaining premiums are paid by the insurance company on behalf of the policyholder.
    • Reduced Paid-Up Benefit: If subsequent premiums are not paid within the grace period once the policy has acquired a Surrender Value, the policy is automatically converted into a Reduced Paid-Up policy. This ensures that policy benefits continue as before. 

Kotak Premier Moneyback Plan - Benefits

  • Death Benefit: In the event of the passing away of the life insured due to natural causes (other than an accident) during the tenure of the policy, the Death Benefit is paid to the nominee. 

Death Benefit = Sum Assured on Death

+ Accrued Reversionary Bonuses and Terminal bonus (if any) 

If the entry age of the life insured is less than or equal to 45 years, the Sum Assured on Death is higher of the following:

  • 11 times of Annual Premium
  • Basic Sum Assured 

If the entry age of the life insured is greater than 45 years, the Sum Assured on Death is higher of the following:

  • 7 times of Annual Premium
  • Basic Sum Assured 

The minimum Death Benefit at any given point in time is 105% of the total premiums paid till the date of death (excluding any extra premium). 

The Death Benefit is paid irrespective of the regular payouts (survival benefits) already paid.

  • Maturity Benefit: The plan gives a Maturity Benefit on the date of maturity. 

Maturity Benefit = Balance of the Basic Sum Assured (i.e. 40% of the Sum Assured)

      + Maturity Addition

      + Accrued Reversionary Bonus (if any)

      + Terminal Bonus (if any)

  • Tax Benefits: Tax benefits are available for premiums paid and Death/ Maturity Benefit received under Section 80C and Section 10(10D) the Income Tax Act, 1961 respectively 

Kotak Premier Moneyback Plan - Product Specifications 

 

Minimum

Maximum

Entry Age (last birthday)

2 years

59 years for a 16 year policy term
55 years for a 20 year policy term
51 years for a 24 year policy term

Maturity Age (last birthday)

-

75 years

Policy Term (fixed)

16, 20 and 24 years

Sum Assured

Rs. 1,50,000

No limit (subject to underwriting acceptance)

Premium Payment Term

Limited:

8 years for a 16 year policy term
10 years for a 20 year policy term
12 years for a 24 year policy term

Premium Payment Mode

Yearly, Half-yearly, Quarterly, Monthly

Premium Modal Factor

The following modal loadings are used to calculate the instalment premium:

Yearly: 100%
Half-yearly: 51%
Quarterly: 26%
Monthly: 8.8%

Premium Levels

Depends on the minimum Sum Assured

Depends on the Sum Assured levels

 

Kotak Premier Moneyback Plan - Policy Details 

Grace Period: The insurance company provides a grace period from the premium due date for payment of unpaid premiums. This period is 30 days in case of yearly, half-yearly and quarterly payment modes, and 15 days in case of the monthly mode. 

Nomination: The facility of nomination is available under the plan as per the provisions of Section 39 of the Insurance Act, 1938 

Assignment: The facility of assignment is available under the plan as per the provisions of Section 38 of the Insurance Act, 1938

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*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
^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.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

Investment Plan
Insurers Offering Guaranteed Return Plans

Max Life

Bajaj Allianz

Tata AIA

Aditya Birla Sun Life

HDFC Life

Bharti AXA Life

Canara HSBC

Edelweiss Life

Bandhan Life

SBI Life

Aviva

Future Generali

IDBI Federal

IndiaFirst

Kotak Life

PNB MetLife

Pramerica Life

Reliance Life

Sahara Life

Star Union

View more insurers
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
Investment Plan 3

Investment plans articles

Recent Articles
Popular Articles
ICICI Compound Interest Calculator

20 Nov 2024

The ICICI Compound Interest Calculator is a valuable financial
Read more
Types of Investment

14 Nov 2024

Investing is a powerful tool for building wealth, securing
Read more
Different Types Of Bonds

11 Nov 2024

Bonds are a type of investment where the investor can invest
Read more
Annual Percentage Rate (APR)

11 Nov 2024

Annual Percentage Rate (APR) means the interest rate you will
Read more
Investment Horizon

11 Nov 2024

An investment horizon is the time you plan to hold an investment
Read more
30 Best Investment Options in India in 2024
  • 04 Apr 2014
  • 1862772
Are you looking for the best investment option for you? From traditional investments like Fixed Deposits (FDs)
Read more
Best NRE Savings Accounts for NRIs in 2024
  • 28 Jan 2022
  • 65428
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
  • 10 Feb 2014
  • 515293
Short-term investments are financial assets that can be easily converted to cash within a short period, ranging
Read more
Post Office Senior Citizen Savings Scheme (SCSS) 2024
  • 13 Feb 2020
  • 97318
The Post Office Senior Citizen Savings Scheme (SCSS) is a government-backed scheme designed specifically for
Read more
Best Saving Plans in India 2024
  • 30 Jan 2019
  • 148369
Saving money is an important step towards achieving financial independence and security. Whether you're looking
Read more

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