You have ensured that your child receives quality education and is equipped to take on the world. At the same time you would also like to make sure that your child gets adequate support while venturing into the competitive world to pursue his/her career goals. After completing education, your child would strive to be financially independent and may require additional financial support to either start up a business or settle down in a new job away from home. Apart from these, you may need additional capital to arrange for his/her marriage.
Kotak Child Future Plan would provide that additional support to you and your child to fulfill all these requirements by providing defined benefits*-Future Boosters-at various milestones of your child’s life.Â
*provided policy is in force
Key Features
Financial support through Future Boosters
Kotak Child Future Plan provides financial support to your child to pursue his/her career without any worries. Future Boosters will be paid on the policy anniversary after the child attains certain milestone ages, as described below:
|
Future Booster |
|
| Age of Child | % of Basic Sum Assured |
| After Child’s 23rd Birthday | 15% |
| After Child’s 25th Birthday | 110% |
| Total Payout | 125% |
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- The above benefits shall be payable even in case of life insured’s accidental disability or untimely demise.
- This will ensure that the child is well supported at the crucial junctures where he is starting off his career.
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Bonus payouts
At the end of the policy term, the applicable bonuses accrued till the end of the policy term will be payable in addition to the last Future Booster. Thus, in addition to providing life insurance, it offers returns on the savings for your child.
A Comprehensive Life Cover
In the event of life insured’s unfortunate demise, this plan will support the child with the following benefits:
- 200% of sum assured paid immediately
- No obligation to pay future premium payments and policy continues as originally scheduled.
- The Future Boosters will be paid as scheduled.
- All applicable bonuses (if any) will also be paid at maturity.
The life cover is designed in such a way to ensure that even after demise, the child gets all the benefits as intended. This will ensure that demise can never come in the way of your children’s future.
Certainty of benefits even in case of an accidental disability
In case the life insured meets with an accidental disability, the following benefits is provided:
- No obligation to pay future premium payments and policy continues as originally scheduled.
- The Future Boosters will be paid as scheduled.
- All applicable bonuses will also be paid at maturity.
Enhanced protection through optional riders
You can enhance the protection for your family by taking additional riders which provide financial support in unfortunate events like accidental death and permanent disability. For detailed information on riders please refer to Individual Rider brochure.
Discount at higher levels of protection
A high sum assured discount of Rs 2 per 1000. The sum assured will be offered to policies with sums assured larger than or equal to Rs 5,00,000. Thus, providing you with cost-effective rates for enhanced protection.
http://insurance.kotak.com/individual/child/child-future-plan.php
