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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 Preferred Term 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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107N009V04
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About Plan
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Kotak Term Plan is a pure risk cover plan and truly an economical means of providing you with a high level of financial protection. In the event of death of the life insured during the term, the beneficiary would receive the Sum Assured^ as a lump sum. It is a non-participating plan with no maturity benefits payable.
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Minimum Entry Age
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18 yers
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Maximum Entry Age
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65 yers
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Minimum Policy Term
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5 yers
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Maximum Policy Term
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30 yers
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Maximum Maturity Age
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70 yers
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Benefits
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| Particulars | Description |
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Death Benefits
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The death benefit payable would be Sum Assured less the balance of the premium payable in the years of death.
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Surrender Benefit
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Incase of a financial emergency you may surrender the polidy if you have chosen single premium payment option.Surrender value for single premium payment option = 75%* premium paid* (1-1/ policy Term) * Outstanding Policy Term/Policy Term.
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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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SEC 80 D
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Under Section 80 D premium up to Rs 10,000 (Rs.15,000 for senior citizens) are allowed as deduction from taxable income.
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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 Critical Illness (Rider) [107C004V02]
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Kotak Term Plan offers the benefit of high life cover at economical prices with further reduced premiums for women. Now you can get life cover of Rs.15 lakhs for a premium of Rs.199* per month only! m
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You may convert your Kotak Term Plan to any other plan offered by Kotak Life Insurance (except for term plans) provided there are at least 5 years remaining before the cover ceases.
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You may avail of the following non-participating value-adds for a nominal additional premium at the time of taking your policy if you have selected regular term insurance premium payment option, subject to aggregate premium on all value-adds (except Kotak Critical Illness Benefit) not exceeding 30% of the basic Kotak Term Plan premium. Kotak Accidental Death Benefit (ADB). Kotak Permanent Disability Benefit (PDB). Kotak Critical Illness Benefit (CIB).
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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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