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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 Sukhi Jeevan 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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107N036V01
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About Plan
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Sukhi Jeevan is a long-term savings and protection plan that keeps pace with your changing needs at every step of life - be it saving for your kids' future, or your retirement. This plan helps you prepare for important milestones in your life. And, most importantly, it ensures your family is secure when life dishes up harsh misfortunes.
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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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Minimum Policy Term
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10 years
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Maximum Policy Term
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25 years
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Minimum Maturity Age
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70 years
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Minimum Premium
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Rs 3500
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Maximum Premium
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Rs 25000
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Benefits
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| Particulars | Description |
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Maturity Benefits
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On maturity, you will receive the sum assured along with all the bonuses declared on the policy. You can take your maturity proceeds by way of half-yearly installments over a 5 year period. The installment amount would be increased depending on prevailing interest rates.
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Death Benefits
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If you meet your unfortunate demise during the policy term, from the second year on, your beneficiaries will receive the full sum assured, along with the reversionary bonus declared and interim bonus, if any. In year one, on accidental death, they will receive the sum assured plus bonus, and on natural death, return of the premiums paid (less any rider premium and extra premium). In case the life insured is a minor, the death benefit will be a return of premiums paid if death occurs within 5 years from the date of commencement or before attainment of age 18, whichever is earlier.
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Loan against policy
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Loans will be granted once the policy acquires a surrender value. The loan will be a maximum of 80% of the surrender value, available at a market related rate of interest. Interest will be compounded and payable semi-annually.
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Surrender Benefit
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On receipt of all the premiums for a period of at least three consecutive years, the policy shall acquire a guaranteed surrender value from that time on. The guaranteed minimum surrender value will be 30% of all premiums paid to date, excluding the first yearÆs premium and any other extrapremiums.
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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 Permanent Disability Benefit (Rider) [107C002V01]
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| No data for Plan Speciality |
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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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