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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 Money Back Plan
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Plan Nature
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TRADITIONAL
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Plan Category
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Money Back
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UIN No.
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107N003V01
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About Plan
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The Kotak Money Back Plan not only covers your life, it also assures you a certain percent of the sum assured as cash payment at regular intervals of every 5 years. It is a savings plan with the added advantage of life cover and regular cash inflow. This plan is ideal for planning special moments like a wedding, your child's education or purchase of an asset etc. This is a participating plan (with profits).
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Minimum Entry Age
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18 yers
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Maximum Entry Age
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60 yers
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Minimum Policy Term
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15 yers
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Maximum Policy Term
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25 yers
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Maximum Maturity Age
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75 yers
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Minimum Premium
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Rs 34124
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Benefits
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| Particulars | Description |
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Death Benefits
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In the unfortunate event of the death during the term of the plan, the beneficiary would receive the death benefit. The death benefit increases by 7% of the sum assured each year.
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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 Term Benefit (Rider) [107C003V02]
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Kotak Critical Illness (Rider) [107C004V02]
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Kotak Accidental Disability Guardian (Rider) [107C011V01]
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Kotak Life Guardian (Rider) [107C012V01]
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You would like to receive cash lump sums at regular intervals to plan for expenses like children's education, purchase of an asset or to meet any other unforeseen contingency. You are looking for guaranteed additions to your money along with a lump sum on maturity. You want a plan that offers you not just regular cash back and bonuses, but also a life cover that automatically increases each year.
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Cash lump sums at intervals of 5 years. Guaranteed additions on maturity. Death benefit increasing at 7% of sum assured at the end of each year. Earn bonuses on the plan.
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The premiums paid by you, net of charges are deposited in the Accumulation Account and the bonus declared is credited to this account at the end of each financial year. During the term of the plan, returns are earned on a compounding basis accumulating to create a substantial corpus for you. This bonus will be over and above the Guaranteed Addition you receive on maturity.
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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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