Kotak Eternal Life Classic Shield Plan

Recommendations :No

Name of the policy :
Kotak Eternal Life Classic Shield Plan

A brief desciption :

Similar to Whole Life Plans, Kotak Eternal Life Classic Shield Plan is a traditional endowment plan where premium is paid for the whole term but cover continues till 99 years of age. However a whole life plan is not recommended because insurance is required for the earning member of the family who has dependents so when a person stops earning the need for insurance also vanishes. So such plans are nothing but a sheer waste of hard earned money.

Started date :6/6/2007
Type of policy :Insurance cum investment
Category :Traditional- Endowment Whole Life Plan
Insurance :Min- 1.5 lakhs Max- No limit
Returns expected :Less than Fixed Deposit
Entry age :0-65 Years
Surrender :Guaranteed Surrender Value = 30% of basic premiums paid - 1st year's premium and additional premium paid (if any)
Minimum amount :Min- For PPT 10-14 Years= Rs 10,000 For PPT 15+ Years= Rs 6,000 Max- No limit

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