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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 Protection Plan
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Plan Nature
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TRADITIONAL
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Plan Category
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Protection Plan
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UIN No.
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107N074V01
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About Plan
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It is a long-term all-inclusive protection cum savings plan with in-built additional benefits that will help to safeguard you and your family from unanticipated events in the future. It provides protection against the following uncertainties during the policy term. Life is full of uncertainties. Being prepared is one of the best defenses to guard against uncertainties. Our comprehensive protection plan helps protect you and your family against the possibility of financial loss caused by life-threatening diseases, accidental disability and untimely death. In addition, it provides a guaranteed benefit at maturity that is more than the total premiums you have paid.
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Minimum Entry Age
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18 years
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Maximum Entry Age
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50 years
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Maximum Maturity Age
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Fixed - 75 years
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Maximum Policy Term
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Maturity Age minus Entry Age
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Minimum Sum Assured
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3 lakhs
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Maximum Sum Assured
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25 lakhs (Subject to underwriting)
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Premium Paying Term
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Option I: Upto The policy anniversary after attainment of age 60Option II: 15 years
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Minimum Premium
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Rs.5000 p.a.
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Maximum Premium
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Based on maximum Sum Assured
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Benefits
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| Particulars | Description |
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Maturity Benefits
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On maturity, 100% of the Basic Sum Assured will be paid as a lump sum and the policy will cease.
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Death Benefits
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On death prior to attainment of age 70:* Natural Death : On death due to natural causes, 100% of Basic Sum Assured will be paid out* Accidental Death : In case of death due to accident, an additional Sum Assured equal to the Basic Sum Assured will be paid, i.e. total 200% of the Basic Sum Assured will be paid out, subject to specific exclusions.On death on or after attainment of age 70, but before maturity:* Death due to any cause: 100% of Base Sum Assured will be paid out
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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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Comprehensive Protection: Plan offers cover fo * Death (due to natural causes)* Accidental Death* Critical Illness* Accidental Disability (waiver of premium)
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Option to pay premiums for a limited term: With this plan, you have the option for paying premiums until the age of 60 years or for fixed term of 15 years. You have the flexibility to choose any one of the option suiting your need.
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Payout on maturity: In addition to protection cover, on maturity of the plan full Sum Assured is paid out.
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Simple underwriting & fast processing
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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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