The guaranteed annual income payable under the Kotak Assured Income Plan is definitely impressive and so is the maturity benefit, which is a percentage higher than the basic sum assured. In fact, after the 10th policy year, the annual assured income broadly compensates for the premium outgo.
Similarly, What is Kotak premier life plan?
Kotak Premier Life Plan is a limited premium paying non-linked participating whole life plan designed to offer protection on your life till golden age, 99 years.
Additionally, What is Kotak Assured income plan? Kotak Assured Income is a 30-year savings cum protection plan, with a premium paying term of 15 years. As the name suggests, this plan guarantees payment of an annual income to the policyholder starting from the end of the 10th year until maturity, ie, for a period of 20 years.
What is Kotak Assured income Accelerator?
Kotak Assured Income Accelerator offers a unique way to get risk free returns. It ensures that you get Guaranteed Income every year on the same amount of savings and that your Guaranteed Income increases year on year – a plan that truly grows with your savings!
What is difference between assured income and possible income?
The assured income is termed as guarantee one because borrowers earn profits by assuring with 100% results. This includes right option and thus solve it possible when comes to return with possible answers. With Assured income, the plans are premium and able to cope with possible incomes.
What is Kotak premier money back plan?
Kotak Premier Moneyback Plan is a participating savings cum protection plan which provides lump sum cash payouts at regular intervals depending on the Policy Term and Basic Sum Assured chosen. Your savings will grow with yearly declared Reversionary Bonuses and lump sum maturity addition to be paid out on maturity.
What is Kotak Smart life plan?
To support you in this journey, Kotak Life proudly presents “Kotak SmartLife Plan”, a limited pay participating endowment plan which will provide you option either to receive Cash bonus payouts every year right from the end of 1st policy year onwards to take care of interim financial requirements or utilize such Cash …
What is Kotak Assured saving plan?
The Kotak Assured Savings Plan is a unique savings and protection plan introduced by Kotak Life Insurance which not only lets you accomplish your financial goals but also wants to take an active role in reaching your financial objectives but also offers affordable life protection.
What is assured income?
Shriram Life Assured Income Plan is a non linked non participating insurance plan. The policyholder has to pay contractual premiums during the policy term; the plan offers assured income at the start of each year during the benefit payout period upon maturity/death with an option of lump sum or payouts.
What is guaranteed income plan?
A guaranteed income plan is a non-participating monthly income scheme. You choose to pay an annual premium for the duration of the plan. … The number of years depends upon the insurance cover chosen, the premium paid, and the sum assured upon maturity of the plan.
What are the benefits of Kotak Smart life plan?
Key features
- Offers Protection. Offers protection up to the age of 75 years.
- Convenience of choosing Bonus options. Convenience of choosing Bonus options: Cash Payout or Paid-Up Addition.
- Bonus Option. Avail chosen Bonus option from end of 1st policy year onwards.
- Additional Protection Rider.
What is Income Accelerator?
The Assured Income Accelerator basically gives you a high return on your savings, amounting to ten times the investments over the 15 year term period. The minimum investment for a year is Rs. 15,000 and policyholders are assured a sum ten times the amount invested.
What are types of family income?
Family Income Types: Money, Real and Psychic Income
- Family income is classified into three types:
- Money income may be in the following forms:
- (a) Salary:
- (b) Wages:
- (c) Rent:
- (d) Interest:
- (e) Profits:
- (f) Sick Benefits:
What is survival benefit in Kotak Life Insurance?
• For premium paying policies under non-annual premium paying modes, the balance of the premium for that Policy year will be deducted from the death benefit. 4. Benefit on Survival prior to Maturity (Survival Benefits): If all the Premiums are paid up-to-date at the due date for each benefit, then the Survival.
What is Kotak Assured Income Accelerator?
Kotak Assured Income Accelerator offers a unique way to get risk free returns. It ensures that you get Guaranteed Income every year on the same amount of savings and that your Guaranteed Income increases year on year – a plan that truly grows with your savings!
What is the benefit of Kotak Smart life plan?
Plan Benefits – Kotak SmartLife Plan
Cash Bonus Payout option – Sum assured on death + Interim bonus (if any) + Terminal bonus (if any) Paid-Up Addition option – Sum assured on death + accumulated paid-up additions (if any) + Interim bonus (if any) + Terminal bonus (if any).
How is Kotak Smart Life plan calculated?
You can use this to calculate the Kotak Smart Life Plan Maturity Value.
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Reversionary Bonus for Kotak Smart Life Plan ( UIN – 107N102V01)
| Year | Premium Payment Term | Bonus Rate |
|---|---|---|
| 2018-19 | Cash Bonus^ on Paid-Up Additions | 2.85% |
| 2018 | Limited Pay of 6 years | 3.40% |
| Limited Pay of 8 years | 3.30% | |
| Limited Pay of 10 years | 3.20% |
How can I cancel my Kotak Smart life plan?
What are the documents required for surrendering the life insurance policy?
- A duly filled and signed surrender request form with policy details, name and contact details.
- Original policy documents.
- Bank account details.
- A cancelled cheque of the account where the amount is to be deposited.
- Self-attested KYC documents.
What is the maximum policy term allowed under Kotak Assured savings plan?
Product Specification:
| Minimum | Maximum | |
|---|---|---|
| Maturity Age (Last Birthday) | 18 years | 75 years |
| Policy Term (PT) in years | 10 | 20 |
| Premium Paying Term (PPT) in years | 5 | 10 |
| Premium Paying Frequency | Annual, half-yearly, quarterly, monthly |
What is mean by sum assured?
Sum assured is a pre-defined sum that the insurance company agrees to pay to you or your nominee if the insured event happens or at the end of the insurance term. The sum assured in insurance is determined at the time of policy purchase. … The premiums you pay for the policy are decided against the sum assured value.
What is assured policy?
Sum assured is a pre-defined sum that the insurance company agrees to pay to you or your nominee if the insured event happens or at the end of the insurance term. The sum assured in insurance is determined at the time of policy purchase. It remains unchanged throughout the policy period.
What is a life assured policy?
Life assurance = An agreement between a life assurance company and a policyholder; in return for a payment (premium) from the policyholder, the company commits to pay someone or something (the beneficiary) upon the death of the person whose life is being covered (the life assured).
What is assured Incomeplus?
Aditya Birla Sun Life Insurance Assured Income Plus provides the benefit of life insurance cover during the Policy Term and guaranteed income for 20, 25 or 30 years to ensure fulfilment of your family’s long term goals and aspirations. …