Kotak Permanent Disability Benefit Rider (Linked)

• Reduce taxable income by up to Rs. 1,50,000 deduction under section 80C**
• Convenient payment options - annual, half-yearly, quarterly or monthly premium payments
• Do more with plans that offer pure protection, retirement planning and investment options

The Permanent Disability Benefit Rider (Linked) that is offered by Kotak Mahindra Old Mutual Life Insurance Ltd. provides financial stability and support in case you meet with an accident that leaves you partially or totally disabled. The Kotak Permanent Disability Benefit Rider (Linked) has to be purchased separately and then attached to a base plan to increase the existing security and benefits offered by the base policy.

The Kotak Permanent Disability Benefit Rider (Linked) can be purchased by anyone as this is an affordable plan made to meet the needs and requirements of the general public. Customers are given a lot of flexibility when making premium payments through various modes of payments like Single, Regular or Limited Pay options.

Eligibility – Who is the Kotak Permanent Disability Benefit Rider (Linked) for?

The Kotak Permanent Disability Benefit Rider (Linked) can be merged to any base plan to amplify the level of financial security and protectionas well. There are certain age restrictions which are considered when determining the eligibility of an individual. To purchase this rider, a person should fall in the age bracket mentioned below:

Sum Assured and Premium Range – What you get and what it costs?

Once you have chosen your policy and rider, you will have to insure the policy for a specific amount and later make premium payments so that you can receive the benefits that come with the plan. Listed below are some details regarding the premiums payments and sum that is assured when purchasing a Kotak Permanent Disability Benefit Rider (Linked):

Exclusions – What the Kotak Permanent Disability Benefit Rider (Linked) doesn’t cover?

Kotak Mahindra Old Mutual Life Insurance Ltd. has a few exclusions to the Kotak Permanent Disability Benefit Rider (Linked) policy. The company will not make a payout to the policyholder in case the individual is disabled permanently for any of the following reasons:

• Insanity, attempted suicide, self-inflicted injuries, committing any breach of law, immortality or being under the influence of an illicit substance like drugs, alcohol, etc.
• Sustaining injuries during a war (if declared or not), terrorist attack, hunting, invasion of/by another country, motor racing, mountaineering, on-duty in a para-military, military, police or security organization or other kinds of dangerous activities or hobbies.
• If the policyholder is part of an aviation or aeronautics crew and not a passenger on any licensed commercial aircraft that operates on a scheduled route.
• Nuclear contamination of a explosive, hazardous, radio-active nature of materials arising from fuel cell or its deterioration or property that is contaminated by nuclear fuel cells and its materials or any accident arising from such a scenario.

Other Key Features of Kotak Permanent Disability Benefit Rider (Linked):

Listed below are some of the key features of Kotak Permanent Disability Benefit Rider (Linked):

Tax Benefits – How you can save with Kotak Permanent Disability Benefit Rider (Linked)?

Individuals who purchase the Kotak Permanent Disability Benefit Rider (Linked) are eligible to avail tax benefits under Section 10(10D) and Section 80C of the Income Tax Act, 1961. Please keep in mind that tax laws can get amended from time to time, therefore affecting the benefits that you are entitled to receive.

Why you should buy the Permanent Disability Benefit Rider (Linked) from Kotak?

The Kotak Permanent Disability Benefit Rider (Linked) is an addition to the insurance arsenal of Kotak Mahindra Old Mutual Life Insurance Ltd. The company is a joint venture between Kotak Mahindra Group of India and Old Mutual of South Africa. The company has a large customer base which caters to the needs and requirements of over 15 million customers. With over 232 branches spread across 167 cities and an agency strength numbering to 99,275, Kotak Mahindra Old Mutual Life Insurance Ltd. ensures that every customer is serviced with a personal touch which promotes customer satisfaction and ensures that they employ the services of the company for a long time. The company offers a plethora of investment and insurance options like savings and investment plans, protection plans, child plans, retirement plans, etc.