Kotak Child Advantage Plan:

This plan is purposely designed to take care of your child’s needs in his or her future.  When your child is in the process of completing his schooling, he may have many strong desires to achieve something great. 

This plan will help your child to realize his dreams and take part in it.  This plan will assist your child in designing his future goals.

The Kotak Child Advantage Plan is a specially designed and affordable plan which helps your child achieve his ambitions without any financial hiccups from your side.

The benefits provided by Kotak Child Advantage Plan are,
This plan offers the maturity benefit by which at the time of maturity, you are eligible to receive the higher of the basic sum assured or the Accumulation Account.

In turn the total sum that has been amassed in the Accumulation Account is invested in other financial implementations so that it grows profitably day by day.

You are provided with the Automatic Cover Maintenance after you have completed three policy years will full payment of your premiums.  By this operation, if you have by mistake forgotten to pay your premium, this operation makes sure that this is overlooked and that your policy still stands.

After you have completed three years of the policy term, you are permitted to take a loan if you wish to do so from the policy.

You can choose how you want to pay your premium from the terms available which are quarterly, half yearly, or annually.

You are provided with two optional riders which are the Life Guardian Benefit rider and the Accidental Disability Guardian Benefit rider to make sure that the policy still stands even in the event of any crisis situation.

In the case of death of the person who is paying the premiums, or if he is permanently disabled, the policy will forgo the rest of the premiums.  These riders are given as an option so that you can rest assured that your child’s future will be taken care of even in your absence.

Under the preferred term benefit, if the person who is paying the premiums dies, the sum assured would be paid at once to the beneficiary.

Suppose the parent has opted for the Life Guardian Benefit and due to some unfortunate event he dies, the rest of the premiums will be waived off and the policy will still continue until the time of maturity and at the time of maturity, the higher of the basic sum assured or the Accumulation Account would be given to the nominee.

If the life insured dies, and he has completed the age of 18 years, or the policy has completed five policy years, then the nominee will receive either the sum assured or the Accumulation Account whichever amount is greater.

But if the life insured dies and he is below 18 years or he has not completed five years of the policy term, then the nominee is eligible to receive either the total of all the premiums paid so far or the surrender value, whichever amount is greater.

By buying this policy, you can enjoy the tax benefits provided by it which pertain to the laws of the Income Tax Act, 1961.

Kotak Child Advantage Plan is specially designed to take care of your child’s dreams and aspirations.  It also provides your child with a financially secure future.  So if you wish to provide your child with a comfortable life, this is the best plan for you.