• Kotak Mahindra Child Plans

    Haven't you always wanted everything to be perfect for your children? You can make this happen by taking an excellent insurance plan for your child. Kotak Life Insurance offers an exclusive insurance plan for children. With the help of this plan, your child can reach great heights. Your child can focus on his or her academics, hobbies, and passions thoroughly. When you take this plan, you are enabling your kid to hone his or her skills and to face all challenges in the forthcoming years. The child plan offered by Kotak is known as Kotak Headstart Child Assure. This plan provides great life insurance coverage to your children.

    Benefits and Features of the Child Plan Provided by Kotak Mahindra Life Insurance:

    Let us take at the benefits and features of the child plan offered by Kotak:

    • This child insurance plan will provide extensive coverage for your children. If something happens to the parent during the policy term, this plan can be used for the child's well-being. The child does not have to miss out on the good things of life due to a parent's loss.
    • The costs for funding a child's education and extracurricular activities are extremely expensive and are going up each day. This is where a child insurance plan comes into the picture. A Kotak child insurance plan will support you in making financial arrangements for all these needs.
    • The child insurance plan will help you accumulate funds for your child's necessities.

    List of Child Insurance Plans Provided by Kotak Mahindra Life Insurance:

    This is the child insurance plan offered by Kotak Mahindra Life Insurance:

    Kotak Headstart Child Assure Plan:

    This is a unit linked insurance plan that will assist you in sponsoring your kid's academic and other plans. It also safeguards your child's prospective goals such as career goals, wedding arrangements, etc. It is a dual benefit plan that allows you to make investments as well as receive protection.

    Benefits and Features of Kotak Headstart Child Assure Plan:

    Let us take a look at the benefits and features of this plan:

    • This plan will help in expanding your funds for sponsoring your child's requirements such as education, sports, arts, and other activities.
    • Under this plan, your child will be the beneficiary. The child will be able to get a triple benefit if the life insured dies during the policy period. The triple benefit comprises basic sum assured which will be given right after the death, a waiver on the premium, and the provision of the fund value after the policy matures.
    • Once the life insured dies, the premium will no longer have to be paid and all the remaining premiums will be included in the fund value. The policy will be retained until the policy term gets over. Thus, the funds of the policy will be left behind for your child's future needs.
    • Under this plan, you will get a maturity benefit. Once the plan matures, you can acquire the complete fund value. You may also choose to take a part of your money in the form of cash and the remaining amount in installments. This can be done for up to 5 years after the policy matures.
    • You will need funds every now and then to meet your child's specific needs. Keeping this in mind, Kotak permits you to withdraw amounts from this plan at any time after the 5th policy year.
    • You will receive tax benefits according to the rules mentioned in Section 10(10D) and Section 80C of the Income-tax Act, 1961. You should be informed that tax laws get amended on a frequent basis. Therefore, you must always check with your tax consultant for updated and accurate details.
    • The additional benefits provided by this plan include switching of plans, change in premium allocation, and policy discontinuance.

    Table showing the details of Kotak Child Insurance Plan:

    Plan name Entry age Maturity age Premium
    Kotak Headstart Child Assure 18 to 60 years Information not provided 5 Premium Payment Term (PPT) Annually: Rs.50,000 p.a. Half-yearly: Rs.25,000 Regular and 10 PPT Annually: Rs.20,000 p.a. Half-yearly: Rs.25,000

    Why one needs Kotak Mahindra Child Plan?

    Kotak Mahindra Life Insurance specialises in providing exclusive insurance plans for different categories of individuals. Be it a salaried employee or a self-employed individual or a child or a retired person, the company offers tailor-made policies for each customer. The child plan offered by Kotak is very beneficial as it will cater to the specific needs of bringing up a child. This plan will also enable the parent in financially guiding their child to take his or her career path. Most importantly, the child will not be left in the lurch when the parent has an unfortunate death. The child plan offered by Kotak will keep the child financially safe and secure.

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    Kotak Mahindra Child Plans Reviews