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Kotak Premier Endowment Plan

What is the Plan all About?

Kotak Premier Endowment Plan is a long-term savings and protection plan which offers financial safety net to combat the unfortunate exigencies. This plan allows you to save for your future financial needs to fulfill the aspirations of your family. This plan offers guaranteed additions in the first five policy years and bonuses start accruing from the 6th year onwards, which will elevate your corpus for your secured future.


What are the Key Features?

  • Guaranteed additions in first 5 years
  • Earn bonus from the 6th year onwards
  • Convenience to opt for the multiple options of premium payment term
  • Offers settlement option
  • Additional protection through riders
  • High sum assured discounts
  • Tax Benefit under Sec 80 C & 10 (10 D)

What are the Plan Benefits?

Death Benefit

    In the event of death of the life insured death benefit is payable to the nominee. Death benefit accounts to be the sum of the minimum Death Benefit plus accrued Guaranteed Additions plus accrued Reversionary Bonuses and Terminal Bonus , if any.

    Minimum Death Benefit payable is higher:

    • 11 times (for insured less than 45 years for entry age) or 7 times (for insured with entry age 45 years and above)  of the annual premium.
    • Guaranteed minimum death benefit
    • 105% of total premiums paid (excluding any extra premiums)

    The nominee has the option to take up death benefit in any one of the ways:

    • Lump Sum Payout which is paid out immediately

     • Take up to 50% of the total death benefit on death and the remaining is paid as equal installments over the next 5 or 10 years as chosen. This payout will be inclusive of an interest rate of 4% p.a.

Maturity Benefit

    Maturity benefit is payable on  the survival of the Life Assured till the completion of the policy term. Guaranteed Maturity benefit is a sum of Basic Sum Assured plus Accrued guaranteed additions plus guaranteed loyalty additions.

Settlement Option

    The plan offers the flexibility of receiving your maturity benefit as:

    • Lump Sum payout, OR
    • The part of the maturity proceeds (up to 50%) can be taken immediately and the remaining is paid as equal installments over the next 5 or 10 years as chosen. This payout will be inclusive of an interest rate of 4% p.a.


    Simple reversionary bonus is payable at the end of each financial year which is expressed as a percentage of basic sum assured.Interim and terminal bonuses are also payable under this plan as ans when due.

Loan Benefit

    Loan facility is available under this plan. The policyholder can avail loan up to 80%  of the Surrender Value subject to the minimum loan amount of Rs 10,000 and as per applicable terms and conditions.

Surrender Value

    Guaranteed surrender value (GSV) plus the surrender value of the bonuses, which is a percentage of total premiums paid. For policies with premium payment term of less than 10 years, the policy acquires surrender value after full payment of due premiums for two policy years and for  policies with premium payment term of 10 years, the policy acquires surrender value after full payment of due premiums for three policy years.

Tax Benefit

    The plan provides tax benefits under section 80C  and section 10 (10D) of the Income Tax Act, 1961.

Who can Buy the Plan?

Factor Minimum Maximum
Age (as on last birthday) 18 Years 60 Years
Age at Maturity - 70 Years
Policy Tenure 10 Years 30 Years
Premium Paying Term 5 Pay – For 10 To 30 Year Policy Term 7 & 10 Pay – For 15 To 30 Year Policy Term 15 Pay – For 20 To 30 Year Policy Term -
Premium Paying Mode Annually, Semi Annually, Quarterly And Monthly -
Premium Amount Rs 8,000 (for Regular Pay) Rs 15,000 (for Limited Pay) No Limit (subj To Underwriting)
Sum Assured - -
Freelook Period 15 Days/ 30 Days (for Distance Marketing Channel) From The Receipt Of The Policy -
Grace Period 30 Days & 15 Days (for Monthly Mode) -
Plan Type Offline -

Is any Rider Available with this Plan?

Following riders can be taken to enhance the policy coverage:

  • Kotak Term Benefit Rider
  • Kotak Accidental Death Benefit Rider
  • Kotak Permanent Disability Benefit Rider
  • Kotak Critical Illness Benefit Rider
  • Kotak Life Guardian Benefit Rider
  • Kotak Accidental Disability Guardian Benefit Rider

How the Plan Works?

Let us understand the plan with an illustration

Given below is an illustration of the benefits payable, for a person aged 35 years for a Basic Sum Assured of 5 lakhs and with a policy term & premium payment term of 15 years:

Kotak Premier Endowment Plan