Kotak Life Guaranteed Fortune Builder Plan

Eligibility Criteria for the Kotak Life Guaranteed Fortune Builder Plan

Features of Kotak Life Guaranteed Fortune Builder Plan

Here are the core features that make Kotak Life Guaranteed Fortune Builder a structured savings and protection plan:

• Guaranteed Benefits: The plan offers guaranteed payments, ensuring stable financial performance.
• Multiple Plan Options: Choose long-term income, early income, guaranteed wealth, and milestone payout.
• Flexible Income Options: Policyholders can receive income to cover short- or long-term needs.
• Child and Spouse Protection Options: Offers options to secure a child's future and add spouse coverage under the same plan.
• Liquidity Flexibility: Provides flexibility with partial withdrawals or the encashment of benefits.

These features make the plan suitable for investors seeking Kotak Life Investment Plans that combine life protection with guaranteed savings.

Benefits of the Kotak Life Guaranteed Fortune Builder Plan

Here are the benefits offered under the Kotak Life Guaranteed Fortune Builder Plan:

• Guaranteed Income Benefits: Policyholders under the long-term Income option are guaranteed income for a specific period after the policy term.
• Wealth Creation: Assured Wealth option offers Guaranteed Yearly Addition and Loyalty Addition, which grow with time and are paid in a lump sum on maturity.
• Early Income Opportunity: There are options that allow policyholders to receive income throughout the policy term, helping them cover short-term needs.
• Flexible Withdrawal Options: Policyholders may encash accrued additions during the policy term, subject to certain limits.
• Financial Protection: If the nominee dies during the policy term, he/she receives the relevant Sum Assured on Death and other benefits, depending on the plan option.

Riders Under the Kotak Life Guaranteed Fortune Builder Plan

For individuals seeking additional protection, here are the riders available with Kotak Life Guaranteed Fortune Builder:

• Kotak Term Benefit Rider - This is an added life cover to the base policy.
• Kotak Accidental Death Benefit Rider - It pays a lump sum in the event of accidental death.
• Kotak Permanent Disability Benefit Rider - A payout that is given in case permanent disability occurs as a result of an accident.
• Kotak Life Guardian Benefit Rider - Out-of-pocket premiums are waived in case of the death of the policyholder.
• Kotak Critical Illness Plus Benefit Rider- Provides financial coverage upon diagnosis of critical illnesses.

Policy Details of the Kotak Life Guaranteed Fortune Builder Plan

Understanding the policy's operational rules is essential before purchasing. Here are the policy details of the plan:

1. Grace Period

   An annual, half-yearly, or quarterly premium mode will have a 30-day grace period, and a monthly mode will have a 15-day grace period.

2. Revival

   A lapsed policy can be revived within five years by paying the outstanding premiums, along with any applicable interest.

3. Free Look Period

   Policyholders are given a 30-day free preview to review policy terms and cancel the policy if they are not satisfied.

4. Surrender

   The policy obtains the valuation of giving up the premiums. A higher guaranteed or special surrender value is paid upon surrender.

5. Loan

   Policy loans are offered on up to 80% of the surrender value, with terms and interest charged.

Exclusions under the Kotak Life Guaranteed Fortune Builder Plan

Before choosing among the best investment plans, it is important to understand the policy's exclusions. Here are the exclusions under this plan:

1. Suicidal Cover

   In case of suicide by the life insured within 12 months of the commencement of the policy, the amount that will be paid as the benefit will be in the range of 80% of premiums paid or the amount of the value of the surrender policy, as per the conditions of the policy.

2. Total Permanent Disability (TPD)

   Benefits for disability are available only if the relevant rider is purchased with the base policy.