Kotak Sampoorn Bima Micro-Insurance Plan

Kotak Sampoorn Bima Micro-Insurance Plan is a single premium plan with a minimum premium of INR 200. Under this plan, you will get a fixed term of five years with a fixed maturity benefit depending on your age at entry. And in the event of your death, the nominee will receive INR 5,000. And this policy doesn’t require any medical test of the life assured. Read this page and know more about Kotak Sampoorn Bima Micro-Insurance Plan.

Kotak Sampoorn Bima Micro-Insurance Plan Benefits

1. Maturity Benefit – Upon your survival till the end of the policy term, you will be eligible to get the following amount-

   Entry Age	Maturity Benefit (In INR)
   18-25 years	310
   26-40 years	300
   41-55 years	275

2. Death Benefit –  If you die during the policy term, the company will pay INR 5,000 to your beneficiary. Kotak Sampoorn Bima Micro-Insurance Plan Death Benefit is subject to a minimum of 1.25X Single Paid Premium Paid, i.e. INR 250 under all circumstances.
3. Surrender Benefit – You can surrender your policy any time during the policy term to get the following amount:

   Year of Surrender	Surrender Payout (In INR)
   1	140
   2	140
   3	140
   4	180
   5	190

4. Tax Benefit – Under Section 10(10D) and Section 80C of the Income-tax Act, 1961, you can claim your tax benefits on premium payment and maturity benefit.

Kotak Sampoorn Bima Micro-Insurance Plan Eligibility

1. Age at entry: 18-55 years
2. Maturity age: 60 years
3. Policy term: 5 years
4. Premium: INR 200
5. Premium Payment Option: Single
6. Free Look Period: 15 days and 30 days (if sourced via distance marketing)

Kotak Sampoorn Bima Micro-Insurance Plan Important Notes

1. There are no Goods and Services Tax and cess levied on the premium as per the prevailing conditions. However, it may be subject to change as per the tax laws from time to time.
2. The life assured will get a guaranteed payout on maturity or death
3. In case of your suicide within the first policy year, 80% of the Single Premium paid i.e. INR 160 will be paid to your nominee and the policy will terminate immediately.
4. Kotak Life Insurance is the name of the insurance company and Kotak Sampoorn Bima Micro Insurance Plan is the name of the product and it does not in any way indicate the quality of the product, its future prospects or returns.
5. Read these details in conjunction with the policy terms & conditions carefully before choosing this policy