CHILD PLAN POLICYKOTAK CHILD EDU PLANAn anticipated endowment child benefit assuranceplan
INTRODUCTION Child’s future is a priority Focus’s on the subject – Start saving today to ensure a bright tomorrow for your childKotakLife Insurance presents Kotak Child Edu Plan. This is a limited premium with profits plan with guaranteed payouts in form of Edu Boosters. They provide life cover for the entire policy term thereby protecting the family, in case of an unfortunate event
HOW DOES THE PLAN WORK? At age 15: Learning time (15% of S.A) At age 17: Time for Higher Education (20% of S.A) At age 19:Additional Needs (30% of S.A) At age 21:Financial Independence (60% of S.A)Maturity Benefits include:In addition to Edu Booster, at the end of the policy term, Accrued Revisionary Benefits and Terminal Bonus (if any) will be payable. TOTAL BENEFITS OF 125% OF S.A, PLUS BONUSES!!!!
PROTECT YOUR CHILD’S FUTURE THROUGHLIFE INSURANCE COVERKotak Child Edu Plan ensures that your child gets all the benefits as planned by you.In the event of your unfortunate demise, this plan will support your child with the following benefitsDeath Cover 200% of Sum Assured (S.A) Future premium payment obligation ceases and policy continues as planned. The EDU BOOSTERS will be paid as planned. Accured Reversionary Bonues (if any) will be paid at maturity. Future Reversionary Bonues (if any) and Terminal Bonuses(if any) shall also be paid at maturity.
ENSURE CERTAINTITY OF THE BENEFITS EVENON ACCIDENTAL DISABILITYBenefit on accidental disability Future premium payment obligation ceases and policy continues as planned. The EDU BOOSTERS will be paid as planned. Accured Reversionary Bonues (if any) will be paid at maturity. Future Reversionary Bonues (if any) and Terminal Bonuses(if any) shall also be paid at maturity.
In case of your unfortunate demise during the policy term after the benefits onaccidental disability have been availed, this plan will support your child with additional benefits:Death benefit after accidental disability 200% of Sum Assured (S.A) Policy continuesfor the original policy term.
ENHANCE PROTECTIVE COVER THROUGHOPTIONAL RIDERSTo customize the level of protection Kotak Term Benefit/Kotak Preferred term Benefit- Lump sum benefit paid on death. Kotak Accidental Death Benefit - Lump Sum paid on accidental death. Kotak Permanent Disability Benefit – Installments paid on being permanently disabled as a result of an accident.
ADDITIONAL FEATURESAdditional features BenefitHigh Sum Assured If you opt to take a large S.A you canDiscount benefit from High S.A Discount. For S.A equal to Rs.5,00,000 or more, a Premium discount of Rs.2 per Rs.1000 Basic S.A shall be applicableReduced Paid-Up Benefit After 3 years premiums have been paid, if the subsequent premiums are not paid within the grace period, the policy will automatically be made paid-up to ensure that you continue to enjoy policy benefits. Future benefits will be based on the Reduced Paid-Up S.A.Convenient premium Pay your premiums annually, half-yearly,payment modes quarterly or monthly mode.
ELIGIBILITY This plan can be purchased by the parents/grand parents of child or individuals who want to protect the child’s future e.g. child’s uncle /aunt etc.
Life Insured Parent/ Grand parent of the childEntry Age Minimum: Child 0 years; life insured 18 years. Maximum: Child 10 years; life insured 64 years.Maturity Age Minimum: Child 21 years; life insured 29 years Maximum: Child 21 years; life insured 75 years.Policy Term 21 years less entry age of child Minimum: 11 & Maximum: 21Premium Payment Term 17 years less entry age of childSum Assured Minimum: 200000 Maximum :No limits.Premium Based on sum assuredPremium Modal Factor Yearly: 100%, Half Yearly 51%, Quarterly 26%, Monthly 8.8%
ILLUSTRATION Given below is an illustration of the benefits payable for R.S. 5,00,000 sum assured, Premium R.S. 52,305, Child’s age 5 years & father’s age 35 years. Policy term is 16 years & premium payment term is 12 years:
CONTINUED…..Age of Child Cumulate Edu Cumulat Maturit Maturity Deathlife age d booster ed edu y benefits benefitsinsured (yrs) annualize payouts booster benefits at (R.S.( 2x(yrs) d payouts at lower higher sum premium( rates(R. rates(R. assured R.S. S. S. )45 15 5,23,050 75,000 75,000 75,000 75,000 10,00,00 047 17 6,27,660 1,00,000 1,75,000 1,75,00 1,75,000 10,00,00 0 049 19 6,27,660 1,50,000 3,25,000 3,25,00 3,25,000 10,00,00 0 051 21 6,27,660 3,00,000 6,25,000 7,25,,00 10,75,00 10,00,00 0 0 0