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Life Insurance Plans

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Kotak Mahindra Old Mutual Life Insurance Company

Kotak Mahindra Old Mutual Life Insurance Company

Kotak Mahindra Old Mutual Life Insurance Ltd is an insurance enterprise linking Old Mutual Public Limited Co. (having 26% of the shares) and Kotak Mahindra Bank (having 74% of the shares). Commenced in 2001, the company has its headquarters in London.

Established in 1985, the Kotak Mahindra Group is one of India's most reputed companies in financial services, and it caters to a wide range of financial schemes and insurances. Kotak Mahindra Bank is a private bank in India which manages several lines of businesses like brokering, realty funds, investment banking and asset management. Old Mutual Plc. Is a 165 years-old company set up in London and is spread across 34 countries. Its services include banking, asset management, long term saving services and insurance.

Kotak Life Insurance is one of the most progressive companies in the country.

Excellent performance and reputation!

They have a vision for a better tomorrow. Their values and aims are the reason for their strengthened bond.

They understand and satisfy customers’ needs very well and therefore, provide great customer experience. They provide customized realistic solutions, and their technology and products are of internationals standards.

Size and value creation together contribute to their blooming business.

They follow a philosophy of trust and understanding which makes them the most trusted financial services company in the country. They have high standards of conformity and corporate governance.

Why to choose Kotak Mahindra?

Trusted by 4 billion people worldwide, Kotak Mahindra Old Mutual Life Insurance is the fastest growing insurance company in India. Its high customer understanding skills and extraordinary services and range of products are the 2 key elements that contribute towards its reputation. There are several other key advantages of choosing Kodak Mahindra like:

They have high financial expertise. It has been rated one of the most financially strong companies by several independent agencies. It has a stable and branched out portfolio.

They have years of expertise in asset management. Their capability to manage funds is very efficient.

Customer satisfaction is one of their key driving forces. They have a very committed sales department.

There is sheer transparency in their services. There is a routine declaration of fund performance and daily performance benchmarking. They also publish a monthly newsletter on market appraises.

Their varied products

There are 5 different categories of products offered by Kotak Mahindra. The 5 categories are the following:

1. Kotak Term Insurance Plans

  1. Saral Suraksha Plan
  2. Preferred Term Plan
  3. Term Plan
  4. e-Term Plan
  5. e-Preferred Term Plan

2. Kotak Unit Linked Insurance Plans - ULIPs

  1. Ace Investment Plan
  2. Platinum Plan
  3. Single Invest Advantage Plan
  4. Invest Maxima
  5. Headstart Child Assure Plan
  6. Wealth Insurance Plan

3. Kotak Whole Life Plan

  1. Premier Life Plan

4. Kotak Money Back Plan

  1. Assured Income Plan

5. Kotak Pension Plans

  1. Premier Pension Plan
  2. Lifetime Income Plan

Product Details

1. Kotak Protection Plans:

  1. Saral Suraksha: This plan is a pure term plan which provides a good cover at affordable premiums. It is valid for 5/10 years’ tenure.
  2. Preferred e-Term Plan: A great plan which provides protection to families at a price of just Rs 6,975 pa. This plan is available online and helps guard you against uncertainties in life.
  3. Preferred Term Plan: This is another protection term plan. It offers 2 death benefit payout choices-Recurring payout and immediate payout. It also provides preferential rates for women and people who don’t smoke.
  4. Term Plan: This plan provides customers with a high level of protection along with preferential rates for women. It is also available at very affordable prices.
  5. Income Protection Plan: This plan provides monthly income which rises by 6% pa compounding if the policyholder dies. This plan also provides a lump sum amount of money to ensure that the family of the policyholder has sufficient funds to meet their immediate needs.
Plan Basic Sum Insured Policy term
Saral Suraksha Rs.5,000 / Rs.10,000 / Rs.15,000 / Rs.25,000 / Rs.50,000 / Rs.75,000 / Rs.1 lac 5 years and 10 years
Preferred e-Term Plan Rs.25 lacs 10 years to 40 years
Preferred Term Plan Rs.25 lacs 5 years to 40 years
Term Plan Rs.3 lacs 5 years to 30 years
Income Protection Plan n/a 10 years to 30 years for Regular Pay policies
17 years to 30 years for 12 Pay policies
20 years to 30 years for 15 Pay policies

2. Kotak Savings and Investment Plans:

  1. Assured Income Accelerator: This plan offers guaranteed income during payout period, guaranteed death benefits and guaranteed maturity benefits.
  2. Gramin Bima Yojana: A plan meant for the rural sector of the society, this plan provides death and maturity benefits to the customer.
  3. Premier MoneyBack Plan: It is a savings and investment limited pay plan. It also provides a lump sum amount of money at regular intervals.
  4. Classic Endowment Plan: It is a long-term protection and savings plan which provides policyholders with protection benefits and bonuses.
Plan Minimum Premium Level Policy Term
Assured Income Accelerator Rs.15,000 15 years for 7 Pay policies
20 years for 10 Pay policies
30 years for 15 Pay policies
Gramin Bima Yojana    
Premier MoneyBack Plan Rs.1.5 lakhs (Minimum) 16 years / 20 years / 24 years
Classic Endowment Plan Rs.7,000 15 years to 30 years

3. Kotak Child Plans:

  1. Headstart Child Assure: It is a ULIP plan. It provides policyholders with death benefits, maturity benefits and premium waiver in case parents die.
Plan Basic Sum Insured Policy Term
Headstart Child Assure Rs.20,000 10 years / 15 years to 25 years

4.  Kotak Retirement Plans:

  1. Lifetime Income Plan: It is an immediate annuity plan. The frequencies of payout are flexible. It secures your finances post-retirement.
  2. e-Lifetime Income Plan: It is a single premium annuity plan. It offers a lifetime income through 4 different choices. The annuity rate remains unaltered throughout the tenure of the policy.
  3. Premier Pension Plus: This plan allows you to save money for your retirement. It makes sure you receive a regular income post-retirement so you can always lead a comfortable life.
Plan Basic Sum Insured Policy Term
Lifetime Income Plan Single Premium: Rs.50,000 Any
e-Lifetime Income Plan Any Any
Premier Pension Plus Rs.2 lacks 10 years to 30 years for Regular Pay policies
15 years to 30 years for 10 Pay policies
17 years to 30 years for 12 Pay policies;
10 years and 15 years for Single Pay policies

5. Kotak Group Plans:

  1. Gratuity Plus Group Plan: This group gratuity plan is unit-linked. It provides funding of the gratuity obligation, the return of all contributions made and a life cover for all the employees of the organization.
  2. Leave Encashment Group Plan: This plan lets organizations serve the needs of employees’ leave encashment liabilities and provides life insurance cover for the employees.
  3. Secure Return Superannuation Plan: This is another group insurance plan which offers superannuation benefits for employees of the organization. It offers a guaranteed minimum floor rate. It also provides additional cover through rider plans.
Plan Basic Sum Insured Policy Term
Group Secure One Rs.5,000 1 year (renewable annually)
Group Secure Rs.5,000 2 years for Single Premium policies
5 years for Regular Premium policies
Gratuity Plus Group Plan Rs.1,000 1 year (renewable annually)