Enjoy a guaranteed second income

Transcription

1 Enjoy a guaranteed second income

2 Kotak Mahindra Group A renowned brand with more than 28 years of experience, offering a wide range of solutions across the financial services spectrum Total Assets of Rs.114,631 cr* Net worth of Rs.17,868 cr* More than 23,500 Employees^ Our Expertise is in the Financial sector Kotak Mahindra Bank Ltd. Kotak Mahindra Old Mutual Life Insurance Ltd. Kotak Securities Ltd. Kotak Mahindra Capital Company Kotak Mahindra Prime Ltd. Kotak International Business Kotak Mahindra Asset Management Company Kotak Private Equity Group Kotak Realty Fund *Source: Investor Relation Earning update Q2 FY ^As on 30-Sep-13.

3 About Kotak Life Insurance Adding value to people s lives through protection & long term savings We are Proud to be.. One of the best claims ratio in the industry 97.14% # Covering over 75 lakhs lives & one of the fastest growing insurance companies in India Profitable for 5 years in a row. One among the few profitable private life insurance companies Terminal Bonus of 15% declared on Accumulation Account of Participating Plans for *. You can invest your trust with us *Declared on Account Value of Kotak Capital Multiplier, Kotak Endowment Plan &Kotak Child Advantage Plan for financial year # Public disclosure FY Source: An Independent study conducted by Business World IPSOS as part of India s Most Respected Companies Survey 2013

4 Kotak Life Insurance brings to you Traditional Products compliant with IRDA guidelines The Economic Times says Dec 6, 2013 The new guidelines issued by IRDA for traditional products, is an attempt at making life insurance true to its core value, more transparent and customer friendly. The guidelines follow overarching themes of providing: 1. Transparency 2. Protection 3. Customer centricity 4. Long term focus

5 Kotak Life Insurance brings to you OUR Traditional Products Better Savings Higher Protection Additional Flexibility Enhanced returns as a result of lower charges Assured savings on account of Guaranteed pay outs Higher Protection results in higher bonus as bonus is now declared on Sum Assured Comprehensive protection for your family with minimum cover of 10 times* the annual premium Flexibility of choosing premium payment term Flexibility of choosing an entry age up to age zero *For age above 45 years the minimum cover is 7 times the annual premium.

6 Why Savings? Regular & Long term savings can help you fulfill your future needs such as: Child s Education Child s Wedding 2 nd Home Annual Holiday Life Insurance is the only savings option that ensures your family s dreams are fulfilled even if you are not around

7 What if you had Guaranteed 2 nd income?

8 Luxuries of life guaranteed every year

9 A family holiday guaranteed every year

10 Extra indulgence on yourself guaranteed every year

11 With Kotak Life Insurance s Best Selling Plan Now with Limited Pay of 10 years

12 And Higher Protection Minimum Death Benefit is now 106% of the Basic Sum Assured* Basic Sum Assured is 10 x Annual Premium

13 With Limited Pay Kotak Assured Income Plan You pay for a Limited Period of 10 years And Get Guaranteed* 2 nd income every year for 15 years Plus Protection for 30 years *Guaranteed, if policy is in force

14 You enjoy Guaranteed* 2 nd income for 15 years Monies paid by you Assured Annual Income* `15,000 to ` 29, % ` 30,000 to ` 74, % ` 75,000 and above 10.10% Annual Income will start from the end of 15 th year *Assured Annual Income is the percentage of Basic Sum Assured. It will be paid from the end of 15th policy year. It will be payable provided the policy is in force and all premiums are paid up to date

15 Get Additional lump sum at the end of the 30 th year You will get Guaranteed Maturity Benefit* ranging between 04% to 110% of Basic Sum Assured on maturity *Guaranteed Maturity Benefit will depend on the age and will be calculated as: [110% - (0.1% x Age at Entry)] of Basic Sum Assured

16 While you are also being covered for 30 years In the case of your unfortunate demise, your family will receive Sum Assured on Death which is higher of 106% of Basic Sum Assured or Guaranteed Maturity Benefit* ensuring adequate protection for your family *Guaranteed Maturity Benefit will be calculated as: [110% - (0.1% x Age at Entry)] of Basic Sum Assured

17 You also have the option to boost your cover through additional Riders The riders offered under this plan are: Kotak Accidental Death Benefit (ADB) Kotak Permanent Disability Benefit (PDB) Kotak Life Guardian Benefit (LGB) Kotak Accidental Disability Guardian Benefit (ADGB) These benefits will be charged for by way of additional premiums and are only applicable during the rider term. For details on riders, please refer to the Rider Brochure

18 And all benefits accrued under this plan are You also get the tax advantage on monies paid by you You may avail of tax benefits under Sec 80 C and Sec 10(10D)of Income Tax Act 1961, subject to conditions as specified in those sections. Tax benefits are subject to change as per tax laws. You are advised to consult your tax advisor for details.

19 Let s look at the plan benefits for a premium of Rs.75,000 You pay 75,000 for 10 years Get Guaranteed* second income 75,750 for 15 years 10 th year 15 th year Lump Sum on Maturity 7,98, th year Cover of 7,98,750 for 30 years *Guaranteed, if policy is in force. For a 35 year old healthy male. Premium is exclusive of service tax.

20 Summary of Overall Benefits is: YOU PAY A premium of 75,000 per year for 10 years 7,50,000 Tax benefits of 23,175 per year for 10 years 2,31,750 Net Payment - = 5,18,250 YOU GET Assured income of 75,750 for 15 years + Maturity benefit 11,36,250 7,98,750 Tax Free = 19,35,000 Along with a life cover of 7,98,750 for 30 years For a 35 year old healthy male. Premium is exclusive of service tax. The above calculation is applicable for taxable income of Rs.12,00,000 and above up to Rs.1 crore on investment of Rs.1,00,000 in this plan. Tax saving is including Education Cess & Higher Education Cess. Tax benefits under 10(10D) of the Income Tax Act is subject to the condition mentioned in Income Tax Act, Payments made to Policy holder during the term of the policy contract will be tax free along with Maturity Benefits.

21 Summary of Plan Benefits Limited Pay of 10 years Guaranteed* 2 nd income for 15 years Lump sum benefit at maturity Protection for 30 years in case of your unfortunate demise Tax benefits for premiums paid and tax free returns *Guaranteed if policy is in force

22 Guaranteed 2 nd income

23 Our core purpose is to add value to customer s life through Protection and Long Term Savings (PALTS). Long Term Savings will help customer achieve their financial goal. Protection will ensure that the financial goals are achieved even in case of unforeseen events KOTAK ASSURED INCOME PLAN, our unique offering is in alignment with our core purpose. It is an endeavor to provide the best protection and savings option to our customers.

24 Invest with us Established in 1985, the Kotak Mahindra Group is today one of India s leading financial conglomerates The Kotak Group business is structured across various strategic units viz. Banking, Life Insurance, Mutual Funds, Wealth Management, Securities, Institutional Equities and Investment Banking with its presence in New York, London. San Francisco, Dubai, Mauritius and Singapore Kotak Mahindra Old Mutual Life Insurance is a joint venture between Kotak Mahindra Bank Ltd. (along with its affiliates) and Old Mutual, a U.K based financial group and an FTSE100 company Kotak Life Insurance brings you the financial expertise along with the international exposure resulting in an integrated product offering of worldclass solutions

25 Kotak Assured Income Plan UIN: 107N069V03, Form No: N069, ADB UIN: - 107B001V02, Form No: B001, PDB UIN: -107B002V02 Form No: B002, LGB UIN: -107B012V02, Form No: B012, ADGB UIN: - 107B011V02, Form No: B011, Ref. No.: KLI/13-14/E-PPT/288. Insurance is the subject matter of solicitation. This is a non-participating savings cum protection oriented 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. Tax benefits are subject to change in tax laws. You are advised to consult your tax advisor to details. Kotak Mahindra Old Mutual Life Insurance Ltd., Regn. No.: 107, Regd. Office: 4th Floor, Vinay Bhavya Complex, 159A, C.S.T. Rd., Kalina, Santacruz (East), Mumbai Website: clientservicedesk@kotak.com Toll Free No