Kotak SmartLife Plan

A Participating Non-Linked Life Insurance Individual Savings Product

You work hard to accomplish your dreams. On this journey, you encounter planned and unplanned expenses.

And post retirement it becomes difficult to fulfill these dreams and aspirations.

What if you have a support that would help you fulfill your dreams but allows you to take care of your near and dear ones when you are not around?

Kotak SmartLife Plan is a participating non-linked life insurance individual savings plan which gives you the option to either receive Cash bonus payouts every year, right from the end of 1^st policy year or accumulate the Cash bonus to build a corpus.

Key Features

Offers Protection

Offers Protection up to the age of 75 years

Convenience of choosing Bonus options

Cash Payout or paid-Up Additions

Bonus Option

Avail chosen Bonus option from end of 1st policy year onwards on monthly or yearly basis

Additional Protection Rider

Additional Protection through optional riders on payment of additional premium

How does the plan work?

You decide the Basic Sum Assured, premium payment term and frequency of premium payment. Based on your needs and your age and gender, the premium payable is determined. You can also choose any one of the Bonus options, i.e. Cash Payout OR Paid-Up Addition.

If, you choose the Cash Payout option , the Cash Bonus (if declared) is payable every year or month from the end of 1 policy year till the end of the policy term or death or surrender whichever is earlier.
If you choose the Paid-Up Addition option, the Cash Bonus (if any) is utilised to purchase Paid-Up Additions, which continue accumulating throughout the policy term. It will provide the flexibility of encashing the cash value of the accumulated Paid-Up Addition subject to Policy conditions.
At the end of the Policy Term, Basic Sum Assured plus accrued Paid-Up Addition (if any) plus Cash Bonus (if any) plus Terminal Bonus (if any) will be paid out depending on the Bonus Option you have chosen.

Eligibility

Entry Age of Life Insured (as on last birthday)	Minimum: 3 years
	Maximum:
	50 years – 6 & 15 pay
	55 years – 8 & 10 pay
	54 years – 12 pay
Maturity Age of Life Insured (as on last birthday)	75 years
Policy Term	75 years less Entry Age of Life Insured
Basic Sum Assured	Minimum: ₹2,50,000
Basic Sum Assured	Maximum: No limits, but it will be subject to Underwriting
Premium Levels	Minimum:
	6 Pay: ₹40,120
	8 Pay: ₹30,955
	10 Pay: ₹26,175
	12 Pay: ₹22,778
	15 Pay: ₹19,505
	Maximum: No Limits, subject to Underwriting acceptance
Premium Payment Term	6, 8, 10, 12 and 15 years
Premium Payment Mode	Yearly, Half yearly, Quarterly, Monthly
Premium Modal Factor	Yearly – 100%, Half yearly – 51%, Quarterly – 26%, Monthly – 8.8%

Additional protection with optional Riders

Kotak Accidental Death Benefit Rider

In case of death of the life insured due to accident, rider sum assured will be paid in addition to the death benefit under the base plan.

Kotak Permanent Disability Benefit Rider

In case of life insured being permanently disabled due to accident, benefit is paid in installments.

Kotak Life Guardian Benefit Rider

In case of death of the policyholder (if different from Life Insured), outstanding premium are waived and will be paid by Kotak Life Insurance

Kotak Accidental Disability Guardian Benefit Rider

In case of accidental disability, outstanding premiums are waived and will be paid by Kotak Life Insurance.

Kotak Term Benefit Rider

In case of death of life insured, rider sum assured will be paid in addition to death benefit under the base plan.

Kotak Critical Illness Plus Benefit Rider

Rider Sum Assured shall be paid in part or whole, in case the Life Insured is diagnosed with any of the 37 critical illnesses (subject to term and conditions)

Disclaimer

IRDAI or its officials do not involve in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

Kotak SmartLife Plan, UIN: 107N102V04, Kotak Term Benefit Rider UIN: 107B003V03; Kotak Accidental Death Benefit Rider UIN: 107B001V04; Kotak Permanent Disability Benefit Rider UIN: 107B002V03; Kotak Critical Illness Plus Benefit Rider UIN: 107B020V02; Kotak Life Guardian Benefit Rider UIN: 107B012V02; Kotak Accidental Disability Guardian Benefit Rider UIN: 107B011V02.

This is a Participating Non-Linked Life Insurance Individual Savings Product. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale. For more details on riders please read the Rider Brochure.

Benefits under this plan are dependent upon the performance of the participating Funds. Please note that Bonuses are NOT guaranteed and may be declared by the company from time to time. The risk factors of the bonuses projected under the product are not guaranteed. Past performance doesn't construe any indication of future bonuses. These products are subject to the overall performance of the insurer in terms of investments, management of expenses, mortality and lapses.

You may avail of tax benefits under Section 80C and Section 10(10D) of Income Tax Act, 1961 subject to conditions as specified in those sections. Tax laws are subject to amendments from time to time. Customer is advised to take an independent view from tax consultant.

This website content only gives the salient features of the plan.

Kotak Mahindra Bank Ltd. is a corporate agent of Kotak Mahindra Life Insurance Company Limited with Corporate Agency License No: CA0250. Regd. Office: 27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400051. The plan is offered and underwritten by Kotak Mahindra Life Insurance Company Limited.

Participation by Kotak Mahindra Bank Ltd.’s customers to buy insurance policy is purely voluntary and there is no direct or indirect linkage between the provision of banking services offered by Kotak Mahindra Bank Ltd. to its customers and products/services offered by Kotak Mahindra Life Insurance Company Ltd. Insurance products/services are obligations of Kotak Mahindra Life Insurance Company Ltd and are not guaranteed by Kotak Mahindra Bank Ltd. Kotak Mahindra Life Insurance Company Ltd. shall be liable or responsible for all matters arising out of or pertaining to the insurance products/ services offered by it.

Kotak Mahindra Life Insurance Company Ltd. Regn. No.: 107, CIN: U66030MH2000PLC128503, Regd. Office: 8^th Floor, Plot # C- 12, G- Block, BKC, Bandra (E), Mumbai - 400 051. Website: www.kotaklife.com | WhatsApp: 9321003007 | Toll Free No. – 1800 209 8800 | Ref. No.: KLI/24-25/E-WEB/2109.

Trade Logo displayed above belongs to Kotak Mahindra Bank Limited and is used by Kotak Mahindra Life Insurance Company Ltd. under license.