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Insurance Company
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Kotak Mahindra Old Mutual Life Insurance Ltd
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Plan Name
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Kotak Assured Income Plan
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Plan Nature
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TRADITIONAL
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Plan Category
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Savings & Investment Plan
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UIN No.
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107N069V01
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About Plan
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The little luxuries that we indulge in with our family form our most pleasant memories. Imagine if you could enjoy these moments without worrying about the associated costs. An additional guaranteed stream of income could make a dfference here. A smart investment decision today can go a long way in ensuring that the life, you want for your family, would indeed become a reality. Keeping this in min, we at Kotak Life Insurance bring to you Kotak Assured Income Plan, your second income. This plan guarantees you an additional income every year, for 20 years. You also enjoy life cover for the entire policy term thereby protecting your family sould something happen to you.
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Minimum Entry Age
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0 Years
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Maximum Entry Age
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60 Years
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Maximum Policy Term
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30 Years
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Premium Paying Term
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15 Years
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Benefits
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| Particulars | Description |
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Maturity Benefits
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In addition to guaranteeing you regular income for 20 years, this plan provides you with a lump sum of 110% to 104% of the Basic Sum Assured, depending on age. Maturity Benefit is a percentage of the Basic Sum Assured and is calculated as (110%-0.1%*Age at Entry), i.e.107% at Age at Entry of 30. Now the family vacation you had long delayed, the second home you wanted to own or the car you always loved might just become a reality.
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Death Benefits
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The rising life expectancy around the world enabled by fast improving medical care can help you live a long and rewarding life. This translates into your staying productive for much longer than what you had initially envisaged. Keeping this in mind Kotak Assured Income Plan provides you life cover for 30 years. On death of the Life Insured, the nominee receives Basic Sum Assured ensuring adequate protection for the family. The Assured Annual Income will cease on death.
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Tax Benefits
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| Section | Description |
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SEC 80 C
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Under Section 80 C premiums up to Rs. 100,000 are allowed as deduction from taxable income.
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SEC 10 (10)D
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Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
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Kotak Accidental Death Benefit (Rider) [107C001V01]
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Kotak Permanent Disability Benefit (Rider) [107C002V01]
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Kotak Accidental Disability Guardian (Rider) [107C011V01]
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Kotak Life Guardian (Rider) [107C012V01]
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Enjoy Assured Annual Income for 20 years
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Receive lump sum on maturity
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Provide protection to your family for 30 years
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Avail of policy loan to meet sudden expenses
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Boost your protective cover through optional rider benefits
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21-Jan-09
11:52
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Kotak Life ties up with DHFL Vysya
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15-Jan-09
14:10
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Kotak Life registered a growth of 63%
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24-Dec-08
14:50
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Kotak Life launches interactive Web site
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22-Oct-08
12:10
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Kotak Life launches Kotak long life
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16-Oct-08
11:59
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Insurance cover for student loans
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15-Oct-08
09:35
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Allahabad Bank signs MoU with Kotak Life Insurance
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01-Sep-08
09:35
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Other Insurers to follow Kotak's strategy on cut insurance cost
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28-Aug-08
20:41
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Kotak Life insurance brings down term plan rates up to 40%
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