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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 Child Advantage Plan
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Plan Nature
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TRADITIONAL
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Plan Category
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Child Plan
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UIN No.
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107N008V01
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About Plan
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The Kotak Child Advantage Plan is an investment plan designed to meet your child's future financial needs. It's a plan that gives your child the azaadi to realize his dreams. The plan is a participating plan with a 15-day free look period.
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Minimum Entry Age
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0 Years
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Maximum Entry Age
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17 years
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Minimum Policy Term
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10 years
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Maximum Policy Term
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30 Years
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Maximum Sum Assured
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Rs 2500000
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Minimum Premium
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Rs 33237
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Benefits
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| Particulars | Description |
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Maturity Benefits
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On Maturity, you would receive the sum assured plus the bonus addition. Bonus addition is the amount in the Accumulation Account,in excess of the sum assured.
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Death Benefits
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In the event of the unfortunate death of the insured during the term of the plan, i) If the policy has been in force for five years or if the life insured is at least 18 years old, the beneficiary will receive either the Sum Assured or Accumulation Account whichever is higher, as on the date of death.if the death occurs with in five year from commencement of policy and if the insured is less than 18 years old, the death benefit would be either the total of all premiums paid so far or the surrender value at that time, whichever is higher.
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Loan against policy
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You can take a loan against this plan, after the policy has been in force for at least three years.
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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 Disability Guardian (Rider) [107C011V01]
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The premiums paid by you net of charges are credited in the Accumulation Account and invested as per IRDA norms and the returns are credited to this account
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Automatic Cover Maintenance facility ensures the policy remains in force even if you miss premium payments. This facility is available after full premiums for the first three years are paid.
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You can take a loan against this plan, after the policy has been in force for at least three years. You have the benefit of a 15 day free look period.
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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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