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Kotak Assured Savings Plan is a non-linked, non-participating individual life insurance savings product from Kotak Mahindra Life Insurance Company Limited. It combines life insurance protection with guaranteed benefits designed to build a maturity corpus. The policyholder selects an eligible policy term and premium payment term and pays premiums over the chosen limited-payment period. Guaranteed Yearly Additions accrue according to the policy provisions, and the maturity benefit includes the Basic Sum Assured, accrued Guaranteed Yearly Additions and Guaranteed Loyalty Addition, where applicable. If the life insured dies during the policy term, the nominee receives the death benefit calculated under the policy terms. The official product page lists a minimum annualized premium of ₹20,000. Entry age, maturity age, policy term and available premium-paying combinations are subject to the product eligibility rules. The benefits depend on the policy remaining eligible and premiums being paid as required. This is a savings-oriented life insurance plan, not a standalone term insurance policy or a market-linked ULIP.
Non-linked savings plan with Guaranteed Yearly Additions and a Guaranteed Loyalty Addition at maturity, subject to policy terms.
Kotak Assured Savings Plan is intended for customers who value predictable, policy-defined benefits and want savings combined with life cover. Its guaranteed-benefit structure can make future planning easier than a market-linked product, but guaranteed does not automatically mean high returns or that the plan is suitable for every financial goal. The customer should compare total premiums payable with the projected maturity benefit shown in an official personalised illustration, check the timing and formula for Guaranteed Yearly Additions and Guaranteed Loyalty Addition, and understand the death-benefit formula before buying. The official minimum annualized premium is ₹20,000; this is an entry requirement, not a universal quote for every age or policy configuration. Early surrender, missed premiums and policy discontinuance may reduce benefits. Compare the policy with other savings options using the same premium budget, duration and cash-flow assumptions. Do not treat this plan as a replacement for adequate standalone life protection.
Kotak Mahindra Life
Key Insights
Founded
2001
Kotak Mahindra Life was established 25 years ago and has built strong credibility over time, backed by its long-standing presence in the market.
Claims Experience
98.8% CSR, calculated as a 3-year average
Kotak Mahindra Life settles 98.8% of all claims it receives, demonstrating strong credibility.
Contact Details
1800-209-8800
Headquarters: 27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra – 400051, India
The plan provides a death benefit to the nominee if the life insured dies during the policy term, calculated according to the policy provisions.
The exact benefit depends on the policy schedule and applicable death-benefit formula.
Guaranteed Yearly Additions accrue according to the product formula while the policy meets the relevant conditions.
The amount and accrual depend on the policy terms and premium payment conditions.
A Guaranteed Loyalty Addition may form part of the maturity benefit according to the selected policy terms.
Check the official benefit illustration for the amount applicable to your policy.
At maturity, the benefit comprises the Basic Sum Assured and applicable accumulated additions as specified in the policy.
The final amount depends on the chosen policy configuration and policy conditions.
The plan offers eligible limited-payment options so premiums are paid for the selected premium-paying term rather than necessarily throughout the entire policy term.
Available combinations are subject to the insurer’s product rules.
An optional rider may provide an additional benefit if the insured dies due to an accident, subject to the rider contract.
Availability, eligibility, premium and exclusions must be confirmed using the current rider brochure and policy schedule.
Conditions or treatments that the policy clearly says it will not cover.
Insurer
Kotak Mahindra Life plans and claim process
It is a non-linked, non-participating savings-oriented life insurance plan that combines life cover with guaranteed benefits under the policy terms.
Kotak Life lists a minimum annualized premium of ₹20,000 for the standard product channel. The amount payable for a particular customer depends on eligibility, selected terms and the official quotation.
No. The base product is a savings-oriented life insurance plan with maturity benefits. It is not a standalone term insurance plan.
Disclaimer: Premium amounts are indicative and may vary based on age, health, and plan selected. Claim settlement ratios are from IRDAI Annual Reports. Finzony is not an insurance broker or agent. Verify all details on the official Kotak Mahindra Life website before purchasing.
Official Website
kotaklife.com
Visit the official Kotak Mahindra Life website for plan brochures, premium quotes and policy services.
The aforementioned ratios have been averaged over three years (FY24-FY26)
Yes. A death benefit is payable to the nominee if the life insured dies during the policy term, subject to the policy wording and applicable conditions.
The official product description states that the maturity benefit includes the Basic Sum Assured, accrued Guaranteed Yearly Additions and Guaranteed Loyalty Addition, as applicable under the policy.
No. The base plan is non-linked and non-participating, so its benefits are not directly determined by the performance of market-linked investment funds.
The standard product listing states an entry age from 3 to 60 years. Eligibility can vary by channel and selected policy configuration, so check the current official product rules before applying.
The official product page lists eligible policy terms from 10 to 20 years, with the exact term determined by the selected premium-paying option.
Surrender is governed by the policy contract. The amount payable can be lower than the total premiums paid, particularly when the policy is discontinued early. Review the current surrender-value provisions before buying.
The product page lists optional riders, including an accidental death benefit rider. Rider availability, eligibility, extra premium and exclusions should be checked in the current rider brochure.
No. It is the published minimum annualized premium. The actual premium and benefits depend on the selected policy configuration and the insurer’s underwriting rules.
Not automatically. This plan combines savings with life cover, but its protection amount may not meet a family’s full insurance needs. Assess protection requirements separately.