Kotak Gramin Bima Yojana Plan

Kotak Gramin Bima Yojana Plan is a micro insurance plan for the rural and social sector of the country to take care of their protection requirements

4.8^~ Rated
7.7 Crore Registered Consumer
50 Partners Insurance Partners
4.2 Crore Policies Sold

Investment Plans

Guaranteed Tax Savings^Under sec 80C & 10(10D)
Under sec 80C & 10(10D)Invest ₹10k Per Month*
Zero LTCG Tax^

Buy Online & Get upto 4% extra#

Get Guaranteed returns along with life cover

invest in 100% Guaranteed Return Plans Tax benefits under sec 80C & No Tax on returns*

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We are rated^~

7.7 Crore

Registered Consumer

Insurance Partners

4.2 Crore

Policies Sold

Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Key Features

It is a Single Premium plan with low premiums
Guaranteed Maturity and /or death benefits depending on the amount of premium invested
No medical check-ups required

Benefits

The nominee gets a sum of 500% of the Single premium paid on death
On maturity, the policyholder gets 200% of the Single premium paid
Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.

Product Specification:

	Minimum	Maximum
Entry Age (Last Birthday)	18 years	45 years
Maturity Age (Last Birthday)	-	60 years
Policy Term (PT) in years	15
Premium Paying Term (PPT) in years	Single Pay
Yearly Premium	1500	20,000
Sum Assured on Death	7500	100,000
Sum Assured on Maturity	3000	40,000

Details about Premium

Premiums paid and the respective Death and Maturity Benefits:

Premium amount	5000	10,000	20,000
Maturity Benefit	10,000	20,000	40,000
Death Benefit	25,000	50,000	100,000

Policy Details

Grace Period: grace period is not applicable

Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy from the 2^nd policy year. The Surrender Value will be calculated as a % of the Single premium paid ranging from 70% - 180% depending on the year of Surrender

Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Exclusions

In case of suicide committed within one year of policy issuance, 80% of the single premium paid is refundable

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history.

†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ