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Kotak Capital Multiplier Plan--Kotak Mahindra Life Insurance

Discussion in 'Life insurance' started by real_buzz, Jan 21, 2013.

  1. real_buzz Moderator

    The Kotak Capital Multiplier Plan is a multi-purpose savings and investment plan that offers you returns in the form of bonuses on your premiums and has a flexible withdrawal option which gives you the power to decide the time and amount of withdrawals.

    Key benefits of Kotak Capital Multiplier Plan from Kotak Mahindra Life Insurance Company

    Accumulate bonuses on your account
    Bonuses are declared year-on-year in your account to ensure that the premiums paid by you earn returns and you are able to accumulate a substantial sum at a future date.
    Get a planned corpus on maturity
    At maturity of the plan, you are entitled to the higher of the basic sum assured or the total amount built up in the accumulation account along with the bonuses declared on the policy. Thus, ensuring that you have accumulated enough to sustain yourself at phases like retirement.

    15-year withdrawal period
    If you do not see any immediate utilisation of your maturity proceeds, you could let it stay invested with us for a maximum of 15 years after the maturity of the plan and it could function like a fixed deposit offering returns and liquidity to withdraw all your funds. This way you can withdraw money in phases to support various expenses that come your way.

    Death benefit for the premium payment term and beyond
    In the event of death during the premium payment term (build up phase), the beneficiary would get the higher of basic sum assured or the total amount built up in the accumulation account. In addition, 10% of basic sum assured would also be given to the beneficiary. This would ensure that an unfortunate event like death can never hinder your family’s financial well-being.

    After the premium payment term, if you choose to use the 15-year withdrawal period facility, you would be eligible for a life cover of 10% of the basic sum assured and the balance in the accumulation account for that period, even though your plan term has been finished.

    Choice to opt for early maturity (in case of ill health)
    In this plan, you can even opt for an early maturity citing ill health. For details refer to the brochure. This feature is to ensure that the long term nature of this plan does not come in the way for your needing financial support in case of medical emergencies.

    Automatic Cover Maintenance to keep the plan going
    Future is uncertain and it is difficult to keep up with the obligation of premium payment year-on-year. Even if you miss a premium payment or two, you can still keep your account with the Automatic Cover Maintenance that applies after the 3rd policy year.

    Additional Protection
    You can also opt for additional riders in order to safeguard yourself from eventualities like a critical illness, an accidental death, disability and permanent disability. These riders fortify your overall protection and ensure that you have peace of mind.
    Eligibility criteria of
    Entry age -- Min. 18 years, Max. 60 years
    Term -- Min. 5 years, Max. 30 years
    Maturity Age -- Min. 23 years, Max. 65 years
    Regular Premium (including policy fees) -- Min: Rs 10,000 annually, Rs 5115 half-yearly, Rs 2620 quarterly, Rs 860 monthly
    Lump Sum Injections -- Min - Rs 10,000 per payment subject to applicable limits
    Max - 25% of basic sum assured during policy year

    General Exclusion
    In case the life insured commits suicide during the first year of the plan, the beneficiary would not receive any of the benefits (except the amount in the Supplementary Accumulation Account, if any) outlined in the plan.

    Benefits of Kotak Capital Multiplier Plan
    Benefits earned under this plan are in accordance with the Income Tax Act, 1961. You can avail tax benefits on:
    Your premiums under Section 80C.
    Maturity or death claim proceeds under Section 10 (10D).

    Tax benefits under the policy will be as per the prevailing income tax laws and are subject to change in the tax laws. You are advised to consult your tax adviser for details.
    Kotak Capital Multiplier Plan: UIN No.: 107N011V01, Form No.: N011 Ref No: KLI/12-13/E-WEB/024
    This is a non-unit linked participating plan.
  2. candyflower Member

    Iife insurance is very important. Many companies offer their plans for securing their life. In this post given all information is very informative and useful. Thank you sharing such nice information which is very useful for people.
  3. jarin20 New Member

    hello friends I am also used kotak multiplier plan kotak mahindra life insurance this life insurance provide diffrenet type plan like
    Accumulate bonuses on your account,
    Benefits of Kotak Capital Multiplier Plan,
    Death benefit for the premium payment term and beyond,
    Get a planned corpus on maturity,etc


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