Kotak Child Advantage Plan

Kotak Child Advantage Plan:-

On maturity you would receive the higher of the basic sum assured or the Accumulation Account*.

The amount available in the Accumulation Account is invested in various financial instruments (as per IRDA regulations) which implies that your money works hard to earn more for your child.

The Automatic Cover Maintenance facility ensures the policy remains in force even if you miss premium payments. This facility is available after full premiums for the first three years are paid.

You can take a loan against this children's plan, after the policy has been in force for at least three years.

You have the option of paying premiums monthly, quarterly, half yearly or yearly.

Bonus

The premiums paid by you net of charges are credited in the Accumulation Account and invested as per IRDA norms. Being a participating plan, the returns as per declared (bonus) are credited to this account. Our team of prudent investment managers will ensure that your money continues to work hard and get you compounding bonuses, year after year.

Waiver of Premium

To ensure that the policy remains in force in case of any unforeseen event, two optional riders: Life Guardian Benefit (LGB – UIN No: 107C012V01) and Accidental Disability Guardian Benefit (ADGB – UIN No: 107C011V01) may be attached. The premiums for the policy will be waived in case of death of the proposer (premium payer) or in case of his permanent disability. Thus, attaching the riders gives you the added comfort that even if something were to happen to you, your child’s future is secured. Maturity Benefit The higher of the basic sum assured or the Accumulation Account will be paid on Maturity. Death of Parent (Premium Payer) In case the parent has opted for the Life Guardian Benefit (LGB), all future premiums on the policy would be waived and the policy will continue till maturity. On maturity, the beneficiary would be entitled the higher of the basic sum assured or the Accumulation Account. Death of Life Insured If the policy has been in force for five years or if the life insured was at least 18 years old, then according to this insurance plan, beneficiary will receive either the sum assured or Accumulation Account whichever is higher, as on the date of death. If the death occurs within five years from commencement of policy and if the insured was less than 18 years old, the death benefit would be either the total of all premiums paid (excluding rider premiums) so far or the surrender value at that time, whichever is higher.