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Kotak Life Insurance Company Limited was founded in 2001. It is a privately owned life insurance company in India which is a 100% owned subsidiary of Kotak Mahindra Bank Limited. Kotak Life Insurance is one of the fastest-growing insurance companies in India covering over 20 million lives nationwide. It encompasses various insurance needs across the board. These include investment and savings plans, child plans, protection plans and retirement plans. Over the years, Kotak Life Insurance has established a very high claim settlement ratio which makes it one of the most trusted brands in the insurance sector.
Top Kotak Life Insurance Plans (2020)
Kotak Life Insurance Company offers a wide range of affordable life insurance plans. It is a one-step solution towards a safe future for you and your family members. Let’s check the top life insurance plans offered by Kotak Life Insurance in different categories.
Kotak Life Insurance Term Plans
A term insurance plan is a protection-oriented and pure risk cover plan which protects the insured for a specified period of time i.e the term of the plan. In a term insurance plan, a fixed sum assured is paid as a death benefit to the beneficiary on the death of the insured during the term of the plan. However, if the insured survives the term of the plan, no benefit will be paid. Kotak Life Insurance offers two types of term plans which provide holistic coverage.
Term Plans Offered by Kotak Life Insurance -
|Kotak Term Plan
|Kotak Term plan is a pure life cover insurance policy in which the sum assured is paid to the beneficiary in case of death of the insured. This plan offers a high level of protection at a nominal premium cost, flexible premium payment options, plan conversion options and the benefit of enhancing your coverage with three optional riders. This plan also offers preferential rates for female lives.
|Kotak e-Term Plan
|Kotak e-Term Plan is a pure-protection plan which offers life cover throughout the term of the plan and pays a death benefit in the event of the insured’s death to the beneficiary of the plan. You get multiple plan options to choose from which includes Life, Life Plus or Life Secure. You can also choose from the three pay-out options to receive the death benefit under the plan. You can customize the protection of the plan through optional riders
Kotak Life Insurance Whole Life Plan
A whole life plan provides risk coverage to a policyholder against death throughout his life. Kotak Life Insurance offers one whole life plan which provides coverage up to 99 years of age. Under this life insurance plan, the policyholder pays the premiums regularly until his death and the corpus is paid to his/her family.
Whole Life Plans Offered by Kotak Life Insurance -
|Kotak Premier Life Plan
|Kotak Premier Life Plan is a limited premium paying and participating life insurance plan in which you can choose to receive the bonus pay-outs even after the expiry of the premium payment term. This plan provides protection up to the age of 99 years and offers a simple reversionary bonus, as declared by the company from 1st policy year till the end of the premium paying term. The plan also offers rebates for high sum assured and has lower rates of premium for female lives.
Kotak Life Insurance Endowment/Savings Plans
Endowment/ Savings plans are among the popular life insurance plans as they offer the dual benefits of risk cover and financial savings. These endowment plans provide benefits in two ways by paying the sum assured in the plan to the nominee on the death of the insured or by paying a benefit on maturity of the plan if the insured survives the policy tenure. These plans might also offer guaranteed returns along with bonuses, thereby helping you to create a corpus while enjoying insurance protection.
Endowment/ Savings Plans Offered by Kotak Life Insurance -
|Kotak POS Bachat Bima
|Kotak POS Bachat Bima is a non-participating savings and protection oriented plan which provides guaranteed benefits in the form of guaranteed yearly additions accruing throughout the term of the plan and guaranteed loyalty addition on the maturity of the plan. This plan offers two plan options to choose from- Life and Life Plus. With the Life Plus option, you get a double protection cover in case of accidental death.
|Kotak Premier Endowment Plan
|Kotak Premier Endowment plan is a participating plan that offers guaranteed additions in the first five years of the policy which is a fixed percentage of the basic sum assured and is paid either on the maturity of the plan or on the death of the life assured. You can choose from multiple premium payment options as per your convenience. Being a participating plan, bonus under this plan accrues from the sixth policy year onwards.
|Kotak Guaranteed Savings plan
|Kotak Guaranteed Savings plan is a non-participating, savings and protection oriented life insurance policy that provides guaranteed benefits in the form of lump-sum guaranteed loyalty additions at the end of the term of the policy and guaranteed additions after premium paying term till the remaining term of the plan. The plan offers a choice from limited premium payment options.
|Kotak Smart Life Plan
|Kotak Smart Life Plan is a participating life insurance plan with a limited pay option. This plan offers you the option to either receive a cash bonus pay-out every year from the expiry of the first policy year or keep the cash bonus for accumulating and creating a corpus to meet your future goals. This plan provides protection of life cover up to the age of 75 years.
|Kotak Assured Savings Plan
|Kotak Assured Savings Plan is a non-participating endowment assurance plan that enables you to create wealth and strengthen your finances for the future. This plan offers guaranteed yearly additions, higher benefits with longer premium paying terms, high premium benefits leading to higher basic sum assured, and a wide range of optional riders.
|Kotak Classic Endowment Plan
|Kotak Classic Endowment Plan is a participating and long term protection cum savings insurance plan which offers protection up to 75 years of age along with earning bonus from 1st year of the policy throughout the term of the plan. You can choose to pay the premiums towards the plan as per your affordability and choose from a wide range of policy term options as per your suitability.
Kotak Life Insurance Money Back Plans
Money-back insurance plans are preferred by many people as they provide periodic payments during the term of the insurance plan. A portion of the sum assured is paid out in these plans at regular intervals to meet your short term requirements of funds. If the policyholder survives the term of the plan, the balance is paid on maturity. However, if the policyholder dies during the term of the plan, a lump-sum death benefit is paid to the beneficiary which is the entire sum assured irrespective of the money-back benefits already paid. These plans also pay bonuses to enhance your savings.
Money-back Plans Offered by Kotak Life Insurance -
|Kotak Assured Income Accelerator
|Kotak Assured Income Accelerator is a non-participating endowment insurance plan which provides guaranteed income every year. The plan also ensures that the guaranteed income increases every year through income boosters from 5% to 7% on a yearly basis. In case of death of the life assured, the plan pays the death benefit to the nominee of the plan irrespective of the guaranteed income already paid. You can also customize your protection with optional riders under the plan.
|Kotak Premier Income Plan
|Kotak Premier Income Plan is a limited pay, participating savings plan which provides guaranteed additional income immediately after the premium payment term of the plan is over. This plan provides you with additional guaranteed income along with an accrued bonus which is paid in lump sum amount at the end of the term of the policy. This plan offers enhanced sum assured rates for female lives along with the benefit of enhancing your protection with a wide range of optional riders.
|Kotak Premier Money Back Plan
|Kotak Premier Money Back Plan is a savings cum life insurance plan that provides lump-sum payouts at regular intervals throughout the term of the plan. You can receive a lump sum benefit along with the final pay-out at the end of the term of the policy, depending on the policy term chosen by you. This plan provides enhanced death cover with additional pay-out on the accidental death of the life assured. The plan also offers 4 rider options to increase the protection level of your plan.
Kotak Life Insurance ULIP Plans
Unit-linked Insurance plans are market-linked products that provide you a combination of life cover and creation of wealth. A part of the amount you invest in your ULIP plans goes towards providing life cover and the rest part is invested in the funds of your choice in different investment strategies as selected by you which helps you to maximize your returns. Kotak Life Insurance offers a range of ULIP plans which rewards you for staying invested in the plan by adding survival units. ULIP plans provide easy liquidity through partial withdrawals and offer the facility of free switches between the funds.
Unit-linked Plans Offered by Kotak Life Insurance -
|Kotak Invest Maxima Plan
|Kotak Invest Maxima is an investment-oriented life insurance plan with a systematic switching strategy and maximum premium allocation. The plan offers two portfolio strategies for optimizing your investment. Kotak Invest Maxima also rewards you by adding survival units every 5 years from the end of the 10th policy year for staying invested for a longer period. Moreover, the plan has a zero premium allocation charge ensuring that most of your money is invested in the funds.
|Kotak Single Invest Advantage Plan
|Single Invest Advantage is a single premium plan in which you invest once and get the benefits throughout the term of the policy. The plan offers three investment strategies to choose from and loyalty additions to boost your savings. Coupled with easy liquidity, this plan ensures that your investments work for you and yield better returns.
|Kotak Single Invest Plus Plan
|Single Invest Plus is a single premium unit-linked plan which offers the benefit of joint life cover to include your close ones in the plan. The plan offers the option of five funds to invest in as per your investment objectives and risk appetite. The plan also provides loyalty additions at the end of the 10th policy year for a policy of 10-year term and at the end of 10th policy year and 15th policy year for a policy of 15- year term.
|Kotak Platinum Plan
|Kotak Platinum Plan is an investment plan with nominal charges which offers you the flexibility to choose from three investment strategies to customize as per your investment goals and requirements. The plan provides extra survival benefits at the end of the 10th policy year and every 5 years thereafter. This plan offers a flexible payment period along with the flexibility to receive maturity benefits either in a lump sum or in installments through its settlement option. You can also make partial withdrawals from the plan and enhance your coverage with optional riders.
|Kotak Ace Investment Plan
|Kotak Ace Investment is a unit-linked life insurance plan which provides the dual benefit of investment and life cover. This plan offers you to capitalize on three investment strategies for building a substantial corpus to meet your long term goals. The plan has flexible premium payment options, options to add a top-up, partial withdrawal facility and two optional riders to enhance the coverage of the plan.
Kotak Life Insurance Retirement Plans
In retirement plans, the insurance company agrees to pay the insured a specified sum of money periodically. The purpose of annuity plans is to protect the insured against financial risk as well as provide funds in the form of pension at regular intervals. Retirement plans also help you in building a corpus for your life after retirement. Kotak Life Insurance offers both immediate and deferred annuity plans for its customers. While the deferred annuity plan helps you to create a retirement corpus, immediate annuity plans help you to utilize a corpus and receive lifelong income in the form of annuities.
Retirement Plans Offered by Kotak Life Insurance -
|Kotak Lifetime Income Plan
|Kotak Lifetime Income Plan is an immediate annuity, non-participating life insurance plan which provides you regular pay-outs to meet your post-retirement financial needs. This plan offers a wide range of annuity options to choose from to suit your various needs and also allows a range of annuity pay-out frequencies to best suit your financial requirements.
|Kotak Premier Pension Plan
|Kotak Premier Pension Plan is a traditional participating life insurance plan which helps you to accumulate a retirement corpus for your golden years. The plan offers assured benefits on death and on vesting. The plan provides guaranteed additions in the first five years and bonuses accruing from the 6th policy year onwards. You get assured benefit under the plan either on death or on vesting which is equal to 105% of the premiums paid by you.
Kotak Life Insurance Micro Plans
Micro Insurance products offer insurance cover to low-income households or to individuals who have little savings. These micro insurance plans are designed especially for individuals living in rural areas. Kotak Life Insurance offers one Micro Insurance plan which aims to cover the socially and economically weaker sections of the society. The plan provides security to them and their loved ones in case of any unfortunate event.
Micro Plans Offered by Kotak Life Insurance -
|Kotak Sampoorn Bima Micro Insurance Plan
|Sampoorn Bima Micro Insurance Plan is a non-participating endowment assurance policy with a fixed term of 5 years which caters to the needs of low-income people. This plan provides a fixed benefit on the maturity of the plan depending on the age of entry of the insured. In case of an unfortunate death of the insured during the term of the policy, INR 5,000 will be paid to the beneficiaries to meet the immediate requirements of the family. It is a single premium insurance plan.
Kotak Life Insurance NRI Plans
Kotak Life Insurance offers life insurance plans for NRIs too. If you are an NRI you can purchase any life insurance plan offered by Kotak Life Insurance as per your coverage needs and insurance requirements whether it is a whole life plan, term plan, retirement plan, money back plans, unit-linked plans, or endowment/savings plans.
Kotak Life Insurance Riders
Riders are additional optional coverage which can be added to your life insurance plan for extended coverage. Riders enhance the coverage of your life insurance plan at an additional premium cost. Riders offered by Kotak Life Insurance can be purchased at the time of buying an insurance plan, at a nominal cost. The maximum amount of benefit that you can avail under the riders is equal to the basic sum assured and the benefit that is paid depends on the rider selected. However, the aggregate premium on all value-adds should not be more than 30% of the premium of the basic insurance plan.
Riders Offered by Kotak Life Insurance -
|Kotak Accidental Death Benefit Rider
|Kotak Accidental Death Benefit Rider provides comprehensive protection till the end of the term of the base policy. In case of accidental death of the life assured in the base plan during the term of the plan, the rider sum assured will be paid in addition to the base plan’s sum assured. You can add this rider either at the inception or at any policy anniversary.
|Kotak Term Benefit Rider
|With Kotak Term Benefit Rider, you can get the sum assured in the rider in case of unfortunate death of the insured during the term of the base plan. You have the flexibility to pay the premiums in single, limited or regular payments at your convenience. You can also avail tax benefits on the premiums paid by you towards this rider.
|Kotak Life Guardian Benefit Rider
|Under this rider, the future premiums of the base plan are waived off in case of the unfortunate death of the policyholder. All the future basic premiums will be paid by Kotak Life Insurance as and when they will be due. This rider benefit can be availed only when the policyholder and the life assured are different people.
|Kotak Accidental Disability Guardian Benefit Rider
|Kotak Accidental Disability Guardian Benefit Rider keeps your policy alive by waiving off all the future premiums of your base insurance plan if the policyholder becomes totally and permanently disabled due to an accident. The premiums, as and when due, will be paid by Kotak Life Insurance.
|Kotak Permanent Disability Benefit Rider
|Under this rider, you get 120% of the rider sum assured over a period of 5 years a part of which will be paid annually and the remaining part at the end of the fifth year. No death benefit is paid under this rider. You can pay the premiums for the rider either in single pay, limited pay, or regular pay.
|Kotak Permanent Disability Benefit Rider (Linked)
|Kotak Permanent Disability Benefit Rider (Linked) is available only with ULIP plans offered by Kotak Life Insurance. Under this rider, in case of permanent disability suffered by the life assured due to an accident, the rider sum assured will be paid as a lump sum. However, no maturity benefit is payable under this rider if the life assured survives the term of the rider.
|Kotak Accidental Death Benefit Rider (Linked)
|Under this rider, the rider sum assured will be payable to the nominee or the beneficiary of the plan in case of death of the life assured due to an accident. The rider sum assured will be in addition to the basic death benefit payable under the base insurance policy. On maturity, no benefit is payable under this rider.
|Kotak Critical Illness Plus Benefit Rider
|Kotak Critical Illness Plus Benefit Rider provides coverage against 37 critical illnesses and pays a lump sum amount if the life assured in the base insurance plan is diagnosed with any covered critical illness or has undergone any surgeries as listed in the brochure of the rider. You can buy this rider at the inception of the plan or on the policy anniversary.
Benefits of buying Kotak Life Insurance plans
Kotak Life Insurance plans have multiple benefits for you and your loved ones. These benefits depend on the type of life insurance plan you buy. The following are the benefits of buying life insurance plans offered by Kotak Life Insurance:
- Risk Cover- Life Insurance plans offer life cover throughout the term of the policy. As such, in case of your unfortunate death, the nominee of the plan will get a lump-sum death benefit to secure their future financially, eliminating the need to be dependent on others.
- Loan Facility- You can take a loan against your Kotak Life Insurance plan when you are in immediate need of funds. The loan taken against life insurance plans of Kotak Life Insurance has low rates of interest as compared to personal loans and is also quicker in terms of processing. However, the loan facility is available on selected policies.
Under some unit-linked plans offered by Kotak Life Insurance, you can also make partial withdrawals after the end of the 5th policy year to meet your immediate needs of funds.
- Wealth Creation- In endowment plans, you can create a corpus by regular savings which you can receive along with bonuses at the maturity of the plan. In ULIP plans, your premiums are invested in different funds of different investment strategies you choose from offering you good returns on your investment thereby creating wealth for your future. Endowment plans help you to create a guaranteed corpus which you receive in a lump sum while unit-linked plans help you to enhance your wealth through market-linked returns on your investment.
- Meeting Short-term and Long-term Financial Goals- Life insurance plans help you to meet your financial goals in life. With Kotak Life Insurance money back plans, you can fulfill your short term financial goals with money back benefits received at regular intervals. With Unit-linked and endowment plans, you can meet your long term financial goals such as child’s education, child’s marriage, buying a house and with retirement plans, you can meet your goal to create a corpus for your post-retirement period.
- Liquidity- Money back insurance plans provide you liquidity by offering money-back benefits at regular intervals to meet your financial needs. With such plans, you can easily meet your immediate expenses.
- Health Cover- Kotak Life Insurance Plans also cover the expenses related to illnesses and hospitalization. It also offers a critical illness rider that provides coverage against critical illness freeing you from the burden of medical bills and out-of-pocket expenses.
- Enhance Coverage with Optional Riders- Optional riders help you to get extra perks added to your policy. The add-on covers help you to increase the coverage benefits of your life insurance plan at low and affordable premium rates. The rider options cover accidental death, critical illness, waiver of premium, disability, etc.
- Tax Benefits- The premiums paid towards the life insurance plan can be claimed as an income tax deduction and the benefits received from the life insurance plans can be claimed as a tax-free benefit, reducing your taxable income and helping you save tax. You can enjoy tax-free returns from Kotak Life Insurance plans and also from its optional riders. You can read about the detailed tax benefits below.
Kotak Life Insurance Claim Process
At Kotak Life Insurance, filing an insurance claim is simple and hassle-free. You can inform the insurance company of the claim online through the company’s website. Follow the steps to make an online request for a claim to the insurance company.
- Visit the official website of the company ( insurance.kotak.com) and select existing customers
- Then click on ‘File a claim’
- Select the ‘File claim’ option and fill in the policy details, policyholder’s details, and claimant’s details.
- After submission, these details would be then verified by the insurance company.
Once verified, the claim will be settled.
You can also visit the branch of Kotak Life Insurance and initiate the claim process by submitting a claim intimation form along with relevant documents. You can obtain the claim intimation form under the forms section of the website of the company, from a life advisor or from the nearest Kotak Life Insurance Branch.
The process of different types of claims is stated as follows:
In the Case of Death
- In case of the death of the insured in the plan, the nominee or the beneficiary would have to make a claim in the policy.
- Claims can be made online or by visiting the branch of the insurance company
- The claim form is to be duly filled and submitted along with other relevant documents for the claim
- The insurance company would verify the claim form and the documents and after verification would pay the claim.
Documents Needed for Death Claim
To intimate a life insurance claim, all the requisite documents as mentioned below should be sent to the claims department of the insurance company or submitted at the nearest Kotak Life Insurance branch.
- Duly filled death certificate intimation form
- Original policy documents
- Original death certificate issued by municipality or equivalent authority
- Claimant’s photograph, photo ID proof and current address proof
- Claimant’s copy of the bank passbook/statement with bank account details.
- Medical certificate stating the cause of death
- Medical records such as consultation notes, hospital indoor papers, admission notes, treatment records, discharge/death summary, etc
- Copy of certified post mortem report/chemical analysis(viscera)
- Police FIR or Medico-Legal Certificate in case of accidental death
In Case of Maturity of the Plan
- If the policy matures or the money-back benefit is due, Kotak Life Insurance will send a claim discharge voucher to the policyholder.
- The voucher is to be duly filled and submitted along with the policy documents.
- The claim would be paid after the submitted documents are verified by the insurance company.
Kotak Life Insurance Tax Benefits
Kotak Life Insurance plans offer tax benefits under various sections of the Income Tax Act, 1961 which helps you to save on tax and also enjoy a tax-free income. Let’s have a look at the tax benefits which you can avail from Kotak Life Insurance plans-
|Income Tax Sections
|Tax Benefits Available
|If you have brought life or a term insurance plan of Kotak Life Insurance, then the payments made by you towards the premiums of the plans can be claimed as deduction under section 80C of the Income Tax Act, 1961. The total amount that you can claim for deduction should be 10% of the sum assured. Premiums paid towards Kotak Life Insurance plans, except retirement plans are allowed deduction up to INR 1.5 lakh per annum.
|Under section 80CCC of the Income Tax Act, 1961, the tax benefit is allowed on the premium paid towards Kotak Life Insurance pension plans. The premiums up to INR 1.5 lakhs per annum paid towards the deferred annuity plans can be availed as a deduction. However, the maximum amount that can be claimed for exemption would be 10% of the sum assured.
|Section 80D of the Income Tax Act, 1961 provides income tax deductions related to the medical insurance premium paid by you. You can claim a tax deduction for the health insurance premium or for critical illness rider up to INR 25,000 for each financial year. For individuals aged 60 years and above, the maximum limit of deduction in one financial year is up to INR 50,000.
|Section 10 (10A)
|Under the deferred annuity plan of Kotak Life Insurance, you are allowed to withdraw a part of your corpus on the maturity of the plan. You are allowed to withdraw up to 60% of the corpus. This withdrawal is called commutation of the pension and is eligible as a tax-free income under section 10 (10A) of the Income Tax Act. However, you can avail up to 33% of the corpus as a tax-free benefit under this section.
|Section 10 (10D)
|Under section 10 (10D) of the Income Tax Act, 1961, any income received from your life insurance plan is exempted from income tax. This income tax deduction is available for all types of life insurance plans. However, to claim tax exemption on maturity and survival benefit received from the plan, the premiums should not exceed 10% of the sum assured in the plan. If the premiums exceed 10% of the sum assured, the entire maturity or survival benefit would be taxable in the hands of the policyholder.
The death benefit is entirely tax-free under this section in the hands of the beneficiary, irrespective of the premium amount.
Kotak Life Insurance Customer Care Details
Kotak Life Insurance delivers outstanding value and assistance to its customers through high customer understanding and empathy. It offers exceptional service and different modes to contact for any query, feedback, or complaint. Here are the details to contact customer care of Kotak Life Insurance:
|1800 209 8800 ( 8 AM to 10 PM)
|Say ‘Hi’ and chat through WhatsApp to 9321003007
|Visit https://www.kotaklife.com/why-kotak-life/contact-us and arrange for a call back by the company by filling in the details
|You can chat with Kaya for any customer assistance.
Kotak Life Insurance Review
Ever since its inception in 2001, Kotak Life Insurance offers a suite of insurance products to cater to the insurance needs of all sections of the society and provide maximum protection and benefits. Here are some details about Kotak Life Insurance:
- The claim settlement ratio of Kotak Life Insurance for financial year 2018-19 is 97.40%
- As at the end of the financial year 2019-2020, Kotak Life Insurance has 20 individual and 13 group life insurance policies in its kitty.
- It has over 232 branches in around 167 cities and towns in India.
- The market share of Kotak Life Insurance as of March 2019, increased by 1.6%.
- The company has Asset Under Management of INR 25, 936 crores as on 31st March, 2019.
These statistics of the company shows that it is one of the leading life insurance providers in the country with different types of life insurance plans and simple claim settlement procedures.
Kotak Life Insurance FAQs
What is the Free Look Period?
If you are not satisfied with your life insurance plan, you have the option to return the original policy to the insurance company within 15 days from the date of the receipt of the policy. The period of 15 days within which you can return the policy to the insurance company and cancel it is called free look period.
Can I surrender my insurance plan before its maturity?
Yes, you can surrender your insurance plan before its maturity. After pay-out of the surrender value, the policy will get terminated. Endowment plans, money back plans, deferred pension plans and unit linked plans acquire a surrender value. Term plans don't. The period after which the plan would acquire a surrender value and the amount of surrender value would depend on the policy that you buy.
Is there any limit on the number of switches in a policy year?
No, there is no limit on the number of switches in a policy year. However, there are a number of free switches that are dependent on the insurance policy opted by you. You should refer to the policy document for checking the number of switches allowed in a policy year or charges that are applicable for the same.
What is the assignment or transfer of a life insurance plan?
Transfer or assignment in a life insurance plan is a method of transferring all the rights and benefits of the plan to another person or institution.
What is a top-up contribution/ lump sum injection?
You can contribute additional amounts over and above the regular premium payable for your unit-linked life insurance plan. These top-ups /lump sum injections enhance the sum assured in the base plan. Moreover, the top up amount allows you to increase your savings and investment at your own pace.
What is Automatic Cover Maintenance?
If the policyholder has paid the premium for the plan for the last 3 years and discontinues to pay the premiums after three years, then the policyholder can avail automatic cover maintenance. Under this provision, the customer’s basic life cover will be available and in case of death, the full benefit will be payable to the customer. The fund of the customer will be utilised for payment of the mortality charges. The policy will terminate after the fund is completely exhausted. This feature of automatic cover maintenance is not available in pure risk plans i.e Kotak Term plan and Kotak Preferred Term plan.
What are loyalty additions?
Loyalty additions are additions which help in enhancing the benefit. They are calculated as a percentage of the average fund value in the immediately preceding three years of the plan. The rates will be dependent on the term of the policy and single premium bands.
What are the three investment strategies under Kotak Life Insurance Unit-linked plans?
The three investment strategies offered under Kotak Life Insurance Unit-linked plans are Self- Managed Strategy, Systematic Switching Strategy and Age Based Strategy.
What are the important details that are required to be submitted if I want to change or add a nominee to my insurance plan?
The important details required to change or add a nominee to the insurance plan are- the name of the nominee, date of birth, address and percentage of share of the nominee (in case you add multiple nominees).
Can I choose multiple riders under the plan?
Yes, you can choose multiple riders under your life insurance plans.
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