Kotak Guaranteed Savings Plan is exquisitely designed for individuals to obtain their financial goals and requirements. Read this article to learn how to achieve your financial goals with complete protection.
Kotak Guaranteed Savings Plan is a life insurance plan which works like an efficient financial strategy. So if you choose to invest in Kotak Guaranteed Savings Plan, then it will let you accumulate wealth besides granting protection. This way, you will be able to achieve your financial goals.
Remember, a wide range of benefits and offers come with the Kotak Guaranteed Savings Plan. So, investing in this policy is highly beneficial for achieving your financial goals.
Today, this article will teach you how to achieve your financial goals with Kotak Guaranteed Savings Plan. Let’s get started.
What are the Eligibility Criteria for Kotak Guaranteed Savings Plan?
Here is a comprehensive listing of the eligibility criteria granted by Kotak Guaranteed Savings Plan:
- The minimum age for investing in this plan is three years.
- The maximum age for investing in this savings policy is 60 years.
- The minimum age for the guaranteed savings plan maturity is 18 years.
- The maximum age for this savings plan maturity is 75 years.
- The minimum annual premium amount is ₹20,000.
- The maximum annual premium amount for the guaranteed savings plan is limitless. However, it is subject to underwriting.
- This savings plan comes with multiple premium payment modes – annually, half-yearly, quarterly, and monthly.
What are the Key Features of Kotak Guaranteed Savings Plan?
Before you can invest in Kotak Guaranteed Savings Plan, it is crucial to learn about the key features. Listed here are the key features offered by the insurance plan:
- This traditional money-back plan is for individual purposes only.
- The sum assured with this policy is ten times the annual premium.
- The minimum amount of premium for this plan is ₹20,000.
- This guaranteed savings plan offers a premium paying term of 15 years.
- It offers guaranteed yearly additions for every paid premium at maturity or death.
- This plan comes with a wide range of riders associated with it.
- It offers incredible tax benefits granted by the Income Tax Act, 1961.
- Policyholders are capable of availing loans up to 50% of the Surrender Value.
- This policy offers a free look period of a maximum of 15 days only.
- It provides a grace period of up to 30 days on the plan.
What are the Benefits Offered by Kotak Guaranteed Savings Plan?
Kotak Guaranteed Savings Plan is associated with a wide variety of benefits. Some of them include:
- Guaranteed survival benefits
- Assured death benefits
- Maturity benefits
- Income tax benefits
- The bonus facility is associated with the moneyback plan
- Provides four additional riders
- Offers guaranteed payouts after the completion of premium payment
To Conclude
As a policyholder, you must pay premiums yearly as per the chosen premium payment term. After the premium payment term expires, your policy will continue till maturity. Only at maturity will you receive guaranteed maturity benefits. It consists of the basic sum assured, accrued guaranteed yearly additions, and guaranteed loyalty.
Click here to know more about Kotak Guaranteed Savings Plan: https://www.kotaklife.com/online-plans/savings-plan