Kotak Headstart Child Assure

Kotak Headstart Child Assure is a unit-linked dual benefits plan to help secure your child's future financial needs and ensure that plans do not go awry, given you may not always be there to help.

• Create wealth for your child's future financial needs
• Ensure financial security of your child through Triple Benefit
• Invest in a wide range of funds

• Unit linked endowment plan with limited premium payment facility.
• Packaged as a child plan as in case of death of parent sum assured is paid immediately, future premiums are paid by the company.

Maturity Benefits:- At maturity you can take the full Fund Value to meet the financial needs of your child. You can also select to receive the maturity proceeds partly in cash and the balance by way of installments, for up 7 to 5 years after maturity, by choosing our Settlement Option.

Death Benefits:- Basic Sum Assured plus Fund Value is subject to a minimum of 105% of total premiums paid less applicable Partial Withdrawals up to time of death.

Flexible withdrawals:- The financial requirements for your children would change from time to time and you require a child savings plan that is flexible. With this plan, you can access the investment after completion of 2 the 5th policy year through Partial Withdrawals.

Investment Funds:-

Partial Withdrawal Benefit:- 

• Be able to meet any sudden or unforeseen expenses from 5th year onwards.
• The minimum amount for partial withdrawal is Rs. 10,000.

Discontinuance of policy:- 

• In the event of an unforeseen financial condition, you may decide to discontinue the policy.
• Discontinuance of the policy before the 5th year will attract Discontinuance Charges.
• In case of discontinuance during the lock-in period of 5 years:
• Fund Value of the policy after deduction of Discontinuance Charges, less outstanding loan amounts including interest (if any), will be credited to the Discontinued Policy Fund.
• This amount will grow at minimum interest rate of 3.50% per annum
• In case of discontinuance after the lock-in period of 5 years
• Policy ends and the proceeds i.e. the Fund Value will become payable immediately, less outstanding loan amounts including interest.

Policy Revival:- 

• A policy can be revived with or without riders until the expiry of the Notice Period.
• All benefits will be reinstated on revival.
• The outstanding premium paid will be used to purchase units on the date of revival.

Loan:- Avail a loan if required, subject to conditions

Switching/Premium Re-direction:- Switch between fund options or change your future premium allocation as per your needs and investment objectives to maximize your returns.

Settlement Options:-

• On selecting the Settlement Option, the number of units to be liquidated to meet each payment shall depend on the respective fund NAVs as on the date of each payment.
•  During the settlement period, the investment risk in the investment portfolio is borne by the policyholder.
• In the case of death, Fund Value shall be paid immediately as a lump sum.
• Life cover and other benefits are not provided during the settlement period
• Then the balance Fund Value will be payable and the policy will be terminated

• Kotak Accidental Death Benefit (ADB):
  Lump sum benefit paid on accidental death
• Kotak Permanent Disability Benefit (PDB):
  Installments on admission of a claim on becoming disabled
• Kotak Critical Illness Benefit (CIB):
  Lump sum benefit paid on diagnosis of a critical illness
• Kotak Accidental Disability Guardian Benefit (ADGB):
  Future unpaid premiums waived on accidental disability

Charges

If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of issuance of the Policy, the Policy shall be void and the Company will only be liable to pay the premiums paid till date.

Konw claim process of Kotak Headstart Child Assure Plan

Claim Process

Kotak Mahindra Old Mutual Life Insurance Ltd is a joint venture between Kotak Mahindra Bank Ltd., its affiliates, and Old Mutual. Kotak Mahindra is one of India's leading banking and financial services organizations, offering a wide range of financial services that encompass every sphere of life. Old Mutual is an international long-term savings, protection and investment group.