Kotak Money Back Plan

Recommendations :No

Name of the policy :
Kotak Money Back Plan

A brief desciption :

Kotak Money Back Plan is an attractive and popular money back plan providing cash backs at periodic intervals. Apart from the periodic cash backs, this policy also ensures a guaranteed payout to the policyholder on maturity. The scheme also provides for an increasing death benefit to the nominee of the policyholder. The sum assured thus increases by 7% every year without impacting the premium amount determined at the time of buying the policy. As far as the periodic cash backs are concerned, investors can probably earn better returns by periodically investing in bank fixed deposits for a five-year time period. To ensure an appropriate life cover for the dependants, invest in a suitable term-plan instead.

Started date :1/5/2001
Type of policy :Insurance cum investment
Category :Traditional- Endowment Money Back Plan
Insurance :The SA increases by 7% every year to keep pace with inflation.
Returns expected :Less than Fixed Deposit
Entry age :18-60 Years
Surrender :Guaranteed Surrender Value = 30% of basic premiums paid - 1st year's premium and additional premium paid (if any).
Minimum amount :Min- 4000 Max- No limit

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