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Kotak Premier Money Back Plan is a savings cum protection plan by Kotak Life Insurance. It provides a regular payout as a percentage of the Basic Sum Assured at specific intervals during the policy term. With the Kotak Money Back plan, you can grow your savings with yearly bonuses and a lump-sum maturity addition.
The plan provides an in-built accidental death benefit, setting its life protection feature apart from others. Under this plan, you can stay protected against risk with additional financial support by selecting from a wide range of add-on riders.
Kotak Premier Money Back is a unique life insurance plan. We will read the plan in detail in the section below for more clarity and better understanding.
Kotak Premier Money Back Plan offers you a range of benefits including:
Min entry age: 2 years Max entry age: 57 years
Maximum maturity age: 75 years
16,20, 24 years
8, 10 or 12 years
Monthly, Quarterly, Half-Yearly or Annually
Min sum assured: Rs. 1,50,000 Max sum assured: No Limit
Let's understand how the Kotak Premier Money Back Plan works with a simple premium illustration.
Mr. Samay is a 30-year-old who wants a plan that can protect his family and maximize his money.
His financial advisor advised him to buy the Kotak Premier Money Back Plan. He visited PolicyX.com
Let's understand how the Kotak Premier Money Back Plan works for him with a premium illustration table.
Annual Premiums | Policy tenure | Premium Payment Term | Basic Sum Assured | Maturity Benefits |
30 years | Rs. 2,93,375, | 20 years | 10 years |
Rs 4,23,000 @ 4% Rs 8,12,000 @ 8% |
Here are some features of Kotak Life Premier Money Back Plan:
If the policyholder dies unfortunately, during the policy term, the guaranteed sum assured on death will be payable to the nominee.
If you want to surrender your Kotak Money Back Plan, you can do so once your policy acquires a surrender value. However, the plan obtains a surrender value immediately after paying premiums for two consecutive years.
Once you outlive the policy tenure, the maturity benefit shall be payable.
Choose from 4 different riders available under the plan.
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There are various benefits to buying the Kotak Premier Money Back Plan. Let’s understand each of them in detail:
Here is the list of documents required to buy the Kotak Premier Money Back:
Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.
Age Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.
Address Proof (either of one) - Utility bill, passport, voter ID, ration card.
Medical Records of the policyholder if requested.
Income Proof ( either of one) - bank statement, last three months' salary slips (if you are salaried).
You can buy the Kotak Life Premier Money Back Plan official website or one of their nearest branch offices.
Visit the official website of PolicyX.com.
Click on the ‘Investment’ tab.
A new page will appear on the screen.
Fill out the form at the top of the page with the necessary details.
Select your income and city. Click on 'Proceed'.
Update your education and occupation details.
Choose your preferred plan and click on 'Buy this plan'.
Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.
Visit the official website of Kotak Life Insurance.
Hover over the 'Investment Plans' from the top of the menu.
Click on the 'Kotak Premier Money Back' plan.
Click on ‘Buy Now’ and you will be redirected to a new page.
Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.
Once discussed you can make the premium payment and get the policy documents.
You can buy the Kotak Premier Money Back Plan offline by visiting one of their nearest branch offices. One of their representatives will help you buy the plan.
What’s Good Here | What’s Missing |
Regular Payout | Guaranteed Additions |
Maturity Additions | No High Sum Assured Rebate |
Cash Bonuses | No Auto cover continuance |
Discount for High Sum Assured | Regular Income |
In-Built Accidental Death Benefit | Plan Options |
Kotak Premier Money Back is a savings cum protection plan. It helps you grow your savings with yearly bonuses and a lump-sum maturity addition. It is ideal for someone who wants to create a second income source to manage expenses.
For more info related to this plan, you can visit PolicyX.com, or call us at 1800 - 420 - 0269. Our insurance experts listen to your unique needs and suggest the best possible solution for you.
Yes, you can surrender your Kotak Money Back Plan once your policy acquires a surrender value.
Kotak Premier Money Back Plan is a savings cum protection plan that helps you grow your savings with yearly bonuses and a lump-sum maturity addition.
Under this plan, you’ll start receiving regular payout at specific intervals throughout the terms. Typically, regular payout intervals may vary based on policy terms.
You’ll receive a special premium discount for high sum assured amounts of Rs. 5 lakh and above.
Kotak Life Insurance claims Settlement Ratio for FY 2022-23 is 98.82%, calculated based on claims settled over total claims for the financial year.
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February 5, 2023
Asia/Kolkata
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