Kotak Assured Savings Plan 2023
Kotak Assured Savings Plan is a non-participating endowment plan that offers life insurance to protect the policyholder’s family in case of an unforeseen event while simultaneously increasing their savings. With guaranteed yearly additions during the premium payment term and guaranteed loyalty additions at plan maturity, the plan significantly boosts savings. Moreover, the plan provides access to a loan equal to up to fifty percent of the surrender value to meet liquidity needs in case of an emergency. The plan comes with six rider options, which allow the policyholder to modify and improve the plan.
The Kotak Assured Savings Plan is designed for individuals who want to save money for their future. This retirement plan is an ideal investment option that offers stability and security. Additionally, the contributions are automatic, so the policyholder can focus on their daily life. In case the policyholder wants to withdraw early, there is no penalty. Thus, the Kotak Assured Savings Plan helps individuals build their financial future.
The Kotak Life Insurance company provides a variety of insurance plans, from protection plans to wealth-building plans, including the Kotak Assured Savings Plan. It is one of the company’s most popular insurance plans, and it is an excellent option for people who want to save money on insurance while simultaneously building wealth to achieve their financial goals in the future.
Kotak Assured Savings Plan Scheme
The Kotak Assured Savings Plan comes with guaranteed benefits such as Guaranteed Loyalty Additions and Guaranteed Yearly Additions, which are paid out at the end of the policy term or in case of the policyholder’s death. KASP is one of the most popular assured savings plans in the country, as it offers a high rate of return and is flexible enough to meet the policyholder’s needs. Policyholders can make the most of the plan’s benefits by understanding its key features.
The Kotak Assured Savings Plan is a life insurance policy that offers investors a way to save money while also providing protection for their family in case of an unforeseen event. It is a non-participating endowment plan that provides guaranteed returns through guaranteed yearly additions during the premium payment term and guaranteed loyalty additions at plan maturity. The plan is designed to help investors increase their savings significantly.
The Kotak Assured Savings Plan is a popular plan that is perfect for people who want to save money for their future financial goals. It offers a high-yield investment option that is stable and secure. Contributions are easy and automatic, allowing investors to focus on their daily life without worrying about managing their savings. Furthermore, there is no penalty for withdrawing early if the investor changes their mind about retirement.
the plan is a good financial plan and life insurance policy
The plan is a good financial plan and life insurance policy. It provides guaranteed benefits to the policyholder, such as Guaranteed Loyalty Additions and Guaranteed Yearly Additions, which are paid out upon maturity or death at the end of the policy term. The plan is flexible and offers six rider options that investors can use to customize and improve the plan to meet their specific needs.
One of the key features of the Kotak Assured Savings Plan is its Guaranteed Annual Additions. Based on the premium payment term selected by the investor, the plan offers guaranteed annual additions of 7% to 10% of the total annualized premium each year. Another key feature of the plan is the Guaranteed Loyalty Addition, which is paid at the policy’s maturity and is equal to 10 to 20 percent of the basic sum assured.
Policies with an annualized premium of INR 30,000 or more are eligible for a 5% increase in the basic sum assured under the plan. Additionally, the plan offers six additional riders, including the Term Benefit Rider, Accidental Death Benefit Rider, Permanent Disability Benefit Rider, Life Guardian Benefit Rider, Accidental Disability Guardian Benefit Rider, and Critical Illness Plus Benefit Rider (covering 37 illnesses).
the plan also offers a policy loan
The plan also offers a policy loan option where investors can access up to 50% of the surrender value to meet their liquidity needs in case of an emergency. The Kotak Assured Savings Plan also offers a Reduced Paid-Up Benefit where the policy benefits are reduced if the investor stops paying premiums after the policy has reached its surrender value.
The Kotak Assured Savings Plan is a good choice for people who want to save money for their future financial goals while also protecting their family in case of an unforeseen event. The plan offers guaranteed returns, flexible options, and a range of benefits and riders that investors can use to customize and improve the plan to meet their specific needs. With its easy contributions and automatic withdrawals, the plan is a stable and secure way to save money for the future.
Benefits of This Scheme
- Guaranteed returns: The plan provides guaranteed loyalty additions and guaranteed yearly additions to the policyholder, which helps in increasing the savings amount.
- Life insurance coverage: The plan also provides life insurance coverage to the policyholder, which ensures that their family is financially protected in the event of an unforeseen circumstance.
- Loan facility: The plan allows policyholders to avail of a loan of up to 50% of the surrender value in case of an emergency.
- Rider options: The plan comes with six different rider options, which can be added to customize the policy according to the policyholder’s requirements.
- Reduced paid-up benefit: If the policyholder is unable to pay the premium after the policy has reached its surrender value, the plan provides a reduced paid-up benefit, which ensures that some benefits are still available.
- High premium benefit: Policies with an annualized premium of INR 30,000 or more are eligible for a 5% increase in the basic sum assured under the plan.
Overall, the Kotak Assured Savings Plan is an excellent option for those looking to save money and secure their financial future. With guaranteed returns, life insurance coverage, and flexible options, this plan can help policyholders meet their financial goals and achieve financial stability.
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How to Apply Online for Kotak Assured Savings Plan 2023?
- Step 1: Visit the official website of Kotak Life Insurance, and navigate to the Kotak Assured Savings Plan page.
- Step 2: Choose the premium amount you want to pay, the premium payment term, and the policy term.
- Step 3: Provide your personal details, including your name, contact information, and address.
- Step 4: Fill in your health and lifestyle details.
- Step 5: Choose the riders you want to add to your policy.
- Step 6: Submit the required documents, such as your ID proof, address proof, and income proof.
- Step 7: Pay the premium amount online.
Once you have completed these steps, your application will be processed, and you will receive the policy document and other relevant details via email or post. If you have any queries or concerns during the application process, you can reach out to Kotak Life Insurance customer support for assistance.
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