Benefits

Guaranteed returns on 1st year premium | Assured Addition Advantage | 100% Premium Allocation | Maturity Benefit | Life Cover | Tax Benefits | Premium Payment Options | Top-up Premiums | Partial Withdrawals | Automatic Cover Maintenance | Settlement Options

You get guaranteed returns of up to 275% of your first year premium at maturity

The Assured Addition Advantage combines two powerful benefits:

• The Fixed Advantage benefit offers you Guaranteed Maturity Value (GMV) at the end of the premium payment term.
• The Dynamic Advantage benefit is an assured bonus addition credited to your fund value at the end of every 10th, 15th, 20th, 25th and 30th policy year.

This means that your money earns more for you!

The Kotak Smart Advantage puts your money to work at the earliest. Right from the 2nd year, the plan gives you 100% premium allocation, resulting in greater returns.

On maturity, you receive the Fund Value and Fixed Advantage benefit*. Remember, this includes the amounts credited to your investments by the Dynamic Advantage – so you accumulate more!

In the unfortunate event of your death, your loved ones will remain secure. The beneficiary will receive a benefit equal to or higher of the Basic Sum Assured or Fund Value plus the Fixed Advantage Benefit.

You can avail tax benefits under Section 80C and Section 10(10D) of Income Tax Act, 1961. Tax benefits are subject to change in the tax laws. You are advised to consult your Tax Advisor for details.

To make investments affordable, it’s important that they are spread out over longer periods. Not only are they easier on the pocket, but you also benefit from the power of compounding. The Kotak Smart Advantage lets you choose the term over which you want to pay the premium. You can choose to pay it over 3, 5, 10, 15, 20, 25 or 30 years. Further, you can choose various Systematic Investment options like Annual, Semi-annual, Quarterly or Monthly.

Apart from the regular premiums, you can use this facility to invest surplus savings – without the commitment to bring them in again the coming year. Units bought from these Top-up Amounts are held in separate accounts, across any combination in our range of Dynamic Funds.

In the event of maturity or death, you or your beneficiary would receive market value of the three top-up units.

To cover unforeseen expenses, at times, you may need to dip into your investments. From the 4th year onwards, you have the option of withdrawing up to 10% of the fund value in any policy year – without this affecting the Fixed Advantage Benefit.

This feature allows your insurance cover remains intact should you miss your premium payments or even stop them provided your fund balance allows it.

Upon maturity or in case of death, the benefit may be availed as a lump sum amount or in equal installments over a maximum period of five years.

^ Applicable for annual premiums equal to and above Rs. 36,000/-

*Conditions apply.