Kotak Wealth Insurance is a type II unit linked insurance plan. It offers the twin benefits of protection and wealth accumulation. This plan secures the future of the family with a comprehensive life cover and helps build a corpus by regular investment in funds of choice. The highlight of this plan is that it provides 'triple protection' on the death of the life insured which helps take care of all eventualities.
Guaranteed Tax Savings
Under sec 80C & 10(10D)₹1 Crore
Invest ₹10k Per Month*Zero LTCG Tax
Unlike 10% in Mutual FundsThe above amount is available immediately to take care of all eventualities in the changed scenario.
In the event of death where the life insured and policyholder is the same person, the Death Benefit comprises of the following 3 components:
In the event of death of the life insured where the life insured and policyholder are different individuals, the Death Benefit comprises of the following 2 components:
In the event of death of the policyholder where the life insured and policyholder are different individuals, the Death Benefit is as follows:
The obligation to pay future premiums ceases and the policy continues till policy maturity. The life insured is entitled to receive the proceeds from the policy.
The minimum Death Benefit is equal to 105% of the total premiums paid (including Top-Up premium) up to the time of death.
|
Minimum |
Maximum |
Entry Age (last birthday) |
Life Insured: 0 years Policyholder: 18 years |
Life Insured & Policyholder: |
Maturity Age (last birthday) |
18 years |
75 years |
Policy Term |
10, 15, 20, 25 and 30 years |
|
Basic Sum Assured |
-If entry age is less than 45 years, higher of: 10 x Annual Premium0.5 x Policy Term x Annual Premium -If entry age is 45 years or above, higher of: 7 x Annual Premium0.25 x Policy Term x Annual Premium |
25 x Annual Premium |
Premium Payment Term |
Regular: Equal to the policy term Limited: 5 years for a 10 year policy term |
|
Premium Payment Mode |
Annual |
|
Premium Amount |
Regular Premium: Rs. 20,000 p.a. Limited Premium: Rs. 50,000 p.a. |
No limit |
Top-Up Premium Amount |
Rs. 10,000 |
The total Top-Up premium paid cannot exceed the sum of all the regular premiums paid at that point of time |
Top-Up Sum Assured |
-If age at the time of payment of Top-Up premium is less than 45 years (last birthday): 1.25 x Top-Up Premium -If age at the time of payment of Top-Up premium is 45 years or above (last birthday): 1.10 x Top-Up Premium |
Nomination: The facility of nomination is available in the plan as per Section 39 of the Insurance Act, 1938
Assignment: The facility of assignment is available in the plan as per Section 38 of the Insurance Act, 1938
You may also like to read: Kotak Life ULIP Plans
*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
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