How Much Do Kotak Life Insurance Plans Cost?

How Much Do Kotak Life Insurance Plans Cost?

Kotak life insurance is one of the most trusted life insurance companies in India providing high protection at low premiums. Whether you want to gain financial security or you want to lead a secured life, Kotak life insurance is a one-stop solution for all your diverse needs. It’s a venture between old mutual which serves as one of its affiliates and Kotak Mahindra. It has been touted as one of the insurance companies which provides quality insurance and banking services and offers a solution for problems in the future. These plans not only ensure your financial security but also the emotional well being of your family. They provide protection, savings which are essential for the smooth functioning of your family. Whatever your need is, Kotak Life insurance will never fail to keep you happy and satisfied.

Tax Benefits On Kotak Life Insurance

The Government of India offers tax benefits to life insurance products in order to encourage people to invest in these policies and convert the flow of funds into productive assets. Best kotak life insurance plans online can be very useful for your tax planning. You can take advantage of the tax saving investments and gain attractive returns and meet all your financial goals.

As per the Income Tax Act, 1961 every policyholder becomes eligible for tax benefits. So utilize this instrument for tax saving and lead a secured life. Under section 80 C there several options of investment exist, owing to which you become eligible for tax benefits. From the gross total income, you can claim for the deduction of the premium that you’re paying for your life insurance policy. Kotak life insurance offers a diverse spectrum of term plans that make you eligible for the triple benefits of saving your taxes. So choose your plan according to your requirement and achieve tremendous benefits on tax saving.

Whatever contributions are made to a pension plan directly becomes eligible for deduction under section 80 C. But the aggregate sum for deduction under section 80 CCC and 80 C should not be more than INR 1.50 lakh. If the amount you pay for your policy in a financial year is more than 10% of the actual sum assured, then the deduction is offered only for premiums up to 10% of the actual sum assured.

Exemption Under Section 10

Under Section 10(10D) of the provisions of said act, life insurance policies are exempt.

Goods and Services Tax

All charges and premium become eligible for applicable taxes and this also includes goods and service tax as applicable under the prevailing tax laws.


Best Deals On Kotak Life Insurance Plans

Kotak life insurance offers myriads of plans to let you live a secured life and to initiate savings. Here are few of the best deals on Kotak Life insurance plans.

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Kotak Mahindra Preferred Term plan

  • In the long term, it offers a high return on a low investment.
  • For tobacco free users and women it offers special rates.
  • You’re able to enjoy only death benefits from it.

Suppose a non-smoking male of 30 years buys a 30-year term plan policy. In order to get the death benefit of one crore, he’ll only have to pay a premium of INR.11, 352 pa.

Kotak e-Assured Savings

  • You can buy the policy online with minimum hassle.
  • You get a percentage increase in the basic sum assured and you also get rewarded with a high premium.
  • BSA + Guaranteed Yearly Additions or death benefit along with maturity benefit. You can get a policy of 15 years at the reasonable premium of INR.75, 000 pa. When you go for your final claim, it will also ensure 10% yearly and 20% loyalty additions. However, if you make the claim after the death of the insurer, it will not include loyalty additions.

Kotak Lifetime Income Plan

  • Continuous annuity on one-time premium. Cash back benefits according to which the premium amount returns to a nominee of the insurer who has died.
  • However, no maturity benefit is available under this plan.
  • It meets the basic needs of the breadwinner of the family and ensures a moderate monthly income throughout life.

Those who’re looking for immediate returns and high savings should definitely opt for Kotak Life insurance plans. It comes with ULIP (unit-linked insurance plans) options and increased life cover. So if you really want to win over the insecurities of life, then Kotak life insurance plans can be your best companion. It will help you in accomplishing your goal of accumulating wealth and will provide you with affordable protection. So what are you waiting for? Invest in the Kotak insurance policies and safeguard your life forever.

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