Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.
Life Insurance
To assure happiness in life,insurance is important!
Kotak Mahindra Life Insurance Company Limited, an Indian-based private life insurance company, was founded in 2001. With 292 branches spread across around 153 cities and towns in India, the company currently serves a customer base of 5 crore individuals. Supported by a network of 102878 agents, Kotak Life has established itself as on the rapidly growing insurance companies in the country. Kotak Life offers a wide range of plans, including protection, retirement, savings, investment, and annuity plans, to meet the diverse requirements of customers.
About Kotak Life Insurance Company:
Kotak Mahindra Life Insurance Company Limited (Kotak Life) is a 100% owned subsidiary of Kotak Mahindra Bank Limited (Kotak). Kotak Life provides insurance products with high customer empathy. Its product suite leverages the combined prowess of protection and long term savings. Kotak Life is one of the growing insurance companies in India with 292 branches across the country and has covered more than 5 crore active lives as on 31st March 2024.
In case of occurrence of the insured event, borrower, his family and dependents will not have the burden of paying back outstanding loan amount as per the cover schedule provided by the Insurer as the insurance company will pay the benefits as defined
Ease in getting Group Insurance through simple procedure
Financial security for your family
To secure dreams and aspirations of your family, we at Kotak Life Insurance design specific solutions, one such solution is Kotak Group Assure. This is a Group Credit Reducing Cover Insurance which helps protect the family from risk of a loan liability and secures the asset in case of the demise of the insured.
Kotak Group Assure - UIN No. 107N051V05 ; Form No: N051. This is a non-participating term group plan. For sub-standard lives, extra premium may be charged based on the insurer's underwriting policy.
Kotak Group Secure One (UIN: 107N098V05), Kotak Group Secure One offers financial security to your members' families fosters loyalty, while diverse benefit types ensure you reach all members, and the ease of obtaining group insurance simplifies the process.
Kotak Group Secure One: UIN: 107N098V05, Form No: N098. This is a non-participating term group plan. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.
To enable everyone realise their long cherished dreams of building a home, providing for children’s education, creating assets or providing other attractive credit and savings options, we at Kotak Life Insurance design specific solutions. Kotak Group Shield is of the group credit insurance plans that helps protect the assets in case of unfortunate event of death. This scheme provides total financial security to the customers by providing coverage equal to the initial loan amount.
Kotak Group Shield; UIN: 107N050V06, Form No: N050. This is a non-participating term group plan. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale.
Kotak Complete Cover Group provides life cover to the borrower’s family relieving the family of the loan liability. It ensures that your loan doesn’t burden your family in your absence.
Kotak Complete Cover Group Plan; UIN: 107N018V08, Form No: N018. This is a non-linked non-participating reducing cover term group plan. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale.
Among the leading private life insurers
FINANCIAL STRENGTH
*Net worth of INR 5,863 Cr.
MARKET PRESENCE
*Wide coverage across 292 branches over 153 cities
CONSISTENT PROFITABLE GROWTH
Kotak has shown a consistent profitable growth year on year (15 years profitable in a row*).
LIVES COVERED
Covered more than 5 crore active lives as on 31 March, 2024.
SOURCE:
www.kotak.com
https://www.kotak.com/content/dam/Kotak/investor-relation/Financial-Result/Annual-Reports/FY-2024/subsidiaries/Kotak-Mahindra-Life-Insurance-Company-Limited_FY2023-24.pdf
*All the data above is as of Mar 31, 2024
Kotak Premier Endowment Plan is a long-term savings and protection plan that provides financial security to cope with unfortunate contingencies along with the ability to save for your future financial needs. This plan provides guaranteed additions in the first five policy years and bonuses^ start accruing from 6th year onwards, all this put together builds up a corpus for your secure future.
Key Advantages:
Guaranteed@ Additions: At 5% per annum of Basic Sum Assured in the first 5 policy years
Earn bonus from 6th policy year onwards
Two Payout options for death & maturity proceeds
Comprehensive Protection through life cover and optional riders
This plan provides for wealth creation during the policy tenure. On survival till the end of the policy term the following benefit will be payable:
In the unfortunate event of death during the term of the plan, the nominee will receive the following:
The plan provides the flexibility of receiving your pay outs on maturity. The same flexibility is available to your nominee in case of death. The payouts can be taken in any one of the ways given below:
A rider is an add-on provision to a basic insurance policy that provides additional benefits to the policyholder at an additional cost. It's a way to maximize the benefits on your life insurance policy and to customize it to suit your specific needs.
Following rider options are available with the plan to provide additional protection:
Tax benefits are subject to conditions specified under section 10(10D) and section 80C of the Income-tax Act, 1961. Tax laws are subject to amendments from time to time. Customer is advised to take an independent view from tax consultant.
Kotak Premier Moneyback Plan strive to provide "The Best" to your family, to them to accomplish their dreams & aspirations and to ensure happiness at every stage of life. Sometimes we may have to say "No" due to financial constraints; wouldn't it be great if we never had to say "No"? To support you in achieving the dreams and aspirations of your family, Kotak Life Insurance presents Kotak Premier Moneyback Plan a savings and protection plan that provides lump sum payouts at regular intervals to meet your interim financial requirements and provide the best to your family.
This plan provides you with regular cash backs as percentage of the Basic Sum Assured at equal intervals depending on the policy term chosen. The balance Sum Assured is paid out at maturity.
Along with the maturity payout a lump sum Maturity Addition will also be given for in-force policies. Maturity Additions will be as a percentage of the Basic Sum Assured ranging from 10% to 30% and will vary depending on the Policy Term.
On the date of maturity, the sum of the following will be paid out:
In the unfortunate event of death due to natural causes (other than accident) during the term of the policy, the nominee will receive the Sum Assured on death (as mentioned below) PLUS accrued Reversionary bonuses^ PLUS Terminal bonus^ (if any).
1. Entry age of Life Insured < = 45 years:
Higher of:
2. Entry age of Life Insured > 45 years:
Higher of:
**Total premium means total of all the premium received, excluding any extra premium, rider premium and applicable taxes.
1It refers to the amount of premium payable by the Policyholder in a year excluding Goods and Services Tax & Cess, Rider Premium, Extra Premiums and Modal Factor Loading, if any, e.g.
In case of death due to an Accident during the policy term, an additional Basic Sum Assured will be paid along with the Death Benefit (as explained above).
Tax benefits are subject to conditions specified under section 10(100) and section 80C of the Income-tax Act, 1961. Tax laws are subject to amendments from time to time. Customer is advised to take an independent view from tax consultant.
A rider is an add-on provision to a basic insurance policy that provides additional benefits to the policyholder at an additional cost. It's a way to maximize the benefits on your life insurance policy and to customize it to suit your specific needs.
Following rider options are available with the plan to provide additional protection:
For more details, contact your nearest SMFG India Credit branch.
Kotak Premier Moneyback Plan UIN: 107N083V02, Form No: N083. Kotak Term Benefit Rider UIN: 107B003V03, Form No.: B003, Kotak Life Guardian Benefit Rider UIN: 107B012V02, Form No.: B012, Kotak Accidental Disability Guardian Benefit Rider UIN: 107B011V02, Form No: B011. Kotak Critical Illness Plus Benefit Rider UIN: 107B020V01, Form No: B020.
This is a participating anticipated endowment plan. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale. For details on riders, please refer to the Rider Brochure.
BEWARE OF SPURIOUS / FRAUD PHONE CALLS!
IRDAI is not involved in activities like selling Insurance policies, announcing bonus, or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
Kotak Mahindra Life Insurance Company Ltd ; Regn. No.:107, CIN : U66030MH2000PLC128503, Regd. Office: 8th Floor, Plot # C- 12, G- Block, BKC, Bandra (E), Mumbai- 400 051.
Trade Logo displayed above belongs to Kotak Mahindra Bank Limited and is used by Kotak Mahindra Life Insurance Company Limited under license.
SMFG India Credit Co. Ltd. is a corporate agent of Kotak Mahindra Life Insurance Company Limited with Corporate Agency License No: CA0098. Commerzone IT Park, Tower B, 1st Floor, No.111, Mount Poonamallee Road, Porur, Chennai, Tamil Nadu - 600116. Insurance is a subject matter of the solicitation. Kindly note that “Insurance” and/or any “Third-Party Products” (TPP) are not mandatory for the purpose of application and disbursement of the loan. It shall be the sole discretion of the customer to avail such insurance and/or any Third-Party Products along with the loan.