Is the future of your child giving you jitters down the spine? Are you unable to breathe peacefully, courtesy to the unwanted thoughts about your child’s situation after your death? If you are sailing in this boat, let’s divert toward Kotak child plan.
Kotak, a well-known company, has brought up an extensive range of insurance plans, including a few specifically for the bundle of joy(s) in your life. Since protecting their future right now is a huge deal, Kotak makes this path easier for you.
Check out the post ahead and find the best Kotak life child plans to choose from.
This Kotak child education plan is a money-back policy that allows you to pay for the child’s education cost throughout the tenure of the policy, regardless of whether you are the parent or not. Under this plan, you have to continue paying the premium until the child reaches 17 years of age.
However, you start acquiring returns way before than the age limit. Once the child touches 15 years, you get 15% of the sum assured. And, once the child turns 17 years, you get 20% of the sum assured.
Furthermore, you get 30% of the assured sum when the child becomes 19 years old. And, when the policy matures, which is when the child turns 21 years old, you get 60% of the sum assured along with accrued bonuses.
|Entry age of the parent||18 – 64 years|
|Entry age of the child||0 – 10 years|
|Age at maturity of the parent||29 - 75 years|
|Age at maturity of the child||21 years|
|Policy tenure||11 - 21 years|
|Premium amount||Based on sum assured|
|Sum assured||Rs. 2 lakhs - Unlimited|
|Frequency of premium payment||Monthly, quarterly, half-yearly & yearly|
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This Kotak Mahindra child plan is a unit-linked Life Insurance plan that helps you build a corpus to fund the dreams and goals of your child, whenever you are short of the financial aid.
This assurance plan provides the triple benefits, including basic sum assured, premium waiver and fund value at the maturity, to ensure uninterrupted financial assistance if you are not around.
|Entry age of the parent||18 – 60 years|
|Age at maturity||28 - 70 years|
|Policy tenure||Up to 25 years|
|Premium amount||Rs. 20,000 – Rs. 50,000|
|Sum assured||25 x annual premium|
|Frequency of premium payment||half-yearly & yearly|
If you have made up your mind to buy a Kotak child plan, you would have to collect the following documents to proceed with the policy acquisition:
A: You can pay your premiums through an array of modes, such as cheque payment at the branch, net banking, online payment, Debit Card, credit card, payment at the Kotak Bank ATM dropboxes, NEFT, IMPS, direct debit, payment through bill desk, postal money order, bank guarantee, electronic bill payment and more.
A: Yes, there is! If you have registered into the online portal of Kotak, you can simply log into your account and access all the details regarding your purchased policy.
A: If you wish to settle your claim for the Kotak child future plan, you would have to visit the nearest branch. There, you would have to fill up a settlement form and attach all the required documents along with that. Once submitted, the company will take around 30 business days to settle down your claim.
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