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Kotak Life Insurance Essay

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Kotak Wealth Insurance – Overview
Kotak Wealth Insurance is a type II unit-linked life insurance plan. It offers the twin benefits of protection and wealth accumulation. This plan secures the future of the family with a comprehensive life cover and helps build a corpus by regular investment in funds of choice. The highlight of this plan is that it provides 'Triple Protection' on the death of the life insured which helps take care of all eventualities.

Key Features
• Twin Benefits: The plan provides dual benefits of protection through a life insurance cover and wealth generation through periodic investment in funds of choice. This plan is able to strike the right balance between protection and wealth accumulation.
• Comprehensive Triple Protection: …show more content…

This is subject to certain limits mentioned in the policy.
• Convenient Premium Payment Options: The insurance premium can be either paid for the duration of the policy term under the Regular pay option or for a short term under the Limited Pay option. The plan provides the convenience of a limited premium payment term of 5 years for a 10 year policy term.

Benefits
• Death Benefit: In the event of death during the tenure of the policy, the Death Benefit is paid to the nominee.

In the event of death where the life insured and policyholder is the same person, the Death Benefit comprises of the following 3 components: o 100% of the Basic Sum Assured o Fund Value o Lump Sum

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