Kotak Smapoorna Bima Micro Insurance Plan

Kotak Sampoorna Bima Micro Insurance Plan is a plan specially designed for the backwards or low-income sections of the society as it is available to them at affordable rates in order to take care of their insurance needs. It is a single premium plan with a term of 5 years.
Kotak Sampoorna Bima Micro Insurance Plan is non-participating and a non-unit linked endowment assurance plan.

Read more
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

The user needs to pay a small premium once, and they get to leverage its maturity benefit which depends on the age of the policyholder at the time of taking up the policy. On the occurrence of any unfortunate event, such as the death of the insured during the policy term then the nominee gets Rs 5,000 so as to help them meet their immediate expenses.  

Kotak Sampoorna Bima Micro Insurance - Key Features

  • It is a Single Premium plan with low premiums
  • Guaranteed Maturity and /or death benefits
  • The premium amount is fixed, and the Maturity Benefit depends up on the policyholder’s entry age
  • No medical check-up required 

Kotak Sampoorna Bima Micro Insurance - Benefits

  • The nominee gets a fixed sum of Rs. 5000 on death of the policyholder
  • On maturity, the benefit depends on the entry age of the policyholder is paid 
  • The policyholder gets to avail Income tax benefits on the premiums paid and claims as per section 80 C and 10 (10 D) defined under Income Tax Act.  

Kotak Sampoorna Bima Micro Insurance - Product Details

 

Minimum

Maximum

Entry Age (Last Birthday)

18 years

55 years

Maturity Age (Last Birthday)

-

60 years

Policy Term (PT) in years

5

Premium Paying Term (PPT) in years

Single Pay

Yearly Premium

200

 

Details about Premium

The Maturity Benefit depending on age for a fixed premium of Rs.200

Age

18 – 25 years

26 – 40 years

41 – 55 years

Maturity Benefit

310

300

275

 

Kotak Sampoorna Bima Micro Insurance - Policy Description

Grace Period: grace period is not applicable 

Surrender Benefit or Termination: Policyholder is allowed to surrender the policy any time where upon, a fixed amount called Surrender Value will be paid. The Surrender Value is Rs. 140 for the first 3 years and Rs. 180 and Rs. 190 in the 4th and 5th policy years respectively. 

Free Look Period

In order to find out whether the policy is suitable for them or not, this plan allows its users to go through the terms and conditions of the policy for about 15 days after receiving the papers of the policy provided if the policyholder has not claimed anything. 

Exclusions

When it comes to cases such as suicides committed within one year of policy issuance, 80% of the single premium paid is refundable.

Required Documents

To take the policy, you need to fill the Application form and submit the required medical details.

You may also Compare: Kotak Life Investment Plan

*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
~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
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
ICICI Bank NRI Account

09 Oct 2023

The ICICI NRI Account is a specialized banking solution designed
Read more
Long- Term Income Plans

11 Sep 2023

Long-Term Income Plans are strategic financial products that
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, typically
Read more
Post Office Monthly Income Scheme - MIS Interest Rate 2024
The Post Office Monthly Income Scheme is a secure and popular investment option in India, backed by the
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

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