Kotak Gen2Gen Protect *

Kotak Gen2Gen Protect

A Non-Linked Non-Participating Individual Savings Life Insurance Plan

You have always worked hard to provide for your family's needs and made sure their aspirations are met.
We realise that you have multiple roles to play as the head of the family. One of your important roles is
being a responsible and caring parent. Ever wondered, will your family be able to maintain the same
standard of living even without you or will your child get the right amount of coverage? What if there is a
life insurance plan that ensures a Two Generation cover where not only you have financial protection but
your child is protected too?

Our Kotak Gen2Gen Protect safeguards your future planning while simultaneously also ensuring that you
get a maturity benefit along with a free life cover for your child till his retirement years. Take the first step
towards a brighter future for you and your child, no matter what the uncertainties in your life.
 Key Features:

Return of Premium: Two Plan Options:

Get life cover throughout the policy Get flexibility to choose between Life
term + You get your premiums back ROP Option and Legacy ROP Option
on maturity as Sum Assured on which suits your varied protection
Maturity needs

Dual Generation Plan: Additional Benefit for Female

Cover two generations under one Lives:
single plan with Transfer of Basic Additional Death Benefit of 5%
Sum Assured under Legacy ROP applicable for Female Lives
Option
 Key Features:

Enhanced Protection with Riders:

Inbuilt Wellness Benefits:
Enhance your insurance with
Get access without any
appropriate rider options, on
additional cost
payment of additional premium

Tax Benefits:
May be available as per
applicable laws amended
from time to time
 How Does the Plan Work?

1 Choose any one of the 2 Plan Options: Life ROP Option or Legacy ROP Option

2 Choose your Basic Sum Assured

Choose your Policy Term & Premium Payment Term based on your
3
requirement

Choose Optional additional coverage through 3 Riders:

4 • Kotak Permanent Disability Benefit Rider
• Kotak Critical Illness Plus Benefit Rider
• Kotak Accidental Death Benefit Rider

5 Choose your Premium Payment Frequency as per your requirement

 Plan Options:

You may select any one of the 2 Plan Options available under this plan at inception based on your requirements.
Once the plan Option is chosen, the same cannot be changed during the policy term or extended policy term

Life ROP Option Legacy ROPLegacy

Option ROP Option
Sum Assured on Death for Single Life Sum Assured
Sum Assured on Death onfor
Death for
yourself
is covered andyourself and
your child is your child is covered
covered
 Life ROP Option:

This Plan Option provides you with the flexibility to select the age at which age you wish you receive the Sum Assured
on Maturity. The following options are available:
1. 60 years or;
2. 65 years or;
3. 70 years or;
4. 75 years

On the policy anniversary following the attainment of Age 60 or Age 65 or Age 70 or Age 75 years (as opted for), the
Sum Assured on Maturity shall be paid. The policy shall terminate on payment of Sum Assured on Maturity at the end
of the policy term.

Maturity Benefit:
On your survival till the end of the policy term, Sum Assured on Maturity shall be paid as a lump sum. The policy shall
terminate once the benefit has been paid.

Death Benefit:
In case of an unfortunate event of death of the Life Insured during the policy term, provided the policy is in-force, the
Sum Assured on Death shall be paid as a lump sum to the nominee / beneficiary. The policy shall terminate once the
benefit has been paid.
 Life ROP Option:

Sum Assured on Death:

Highest of:
1. Basic Sum Assured or;
2. 11 times Annualized Premium1 or;
3. 105% of Total premium paid* till the date of death

In the event of the death of the Life Insured, during the grace period, the Sum Assured on Death shall be adjusted for
any due unpaid premiums. In case of Non-Annual modes of premium payment, the outstanding instalment premiums
for the balance of the policy year of death shall also get deducted from the Sum Assured on Death.
In case the Life Insured is a Female Life, then the Sum Assured on Death shall be enhanced by 5%.

1Annualized Premium is the premium payable in a policy year, excluding loadings for extra mortality, modal premium, Goods and
Services Tax and Cess as applicable and Rider Premium, if any.
*Total Premium paid means total of all the premiums received including Extra Premium and Modal Loading, but excluding any Rider
Premium and Goods and Services Tax and Cess
In case of any discount on first year Premium, the Total Premium paid will be limited to the actual Premium paid by the Policyholder.
 Life ROP Option Illustration:

Mr. Rahul, 40-years old, buys Kotak Life Gen2Gen Protect: Life ROP Option. He opts for a cover till the age of 75 years and
decides to pay premiums annually for 10 years. He chooses Base Sum Assured of ₹50 lacs by paying premium of Rs.
46,800 (premium is exclusive of GST). Channel: Offline.

Scenario 1:
In case of an unfortunate demise of Mr. Rahul during the policy term, provided the policy is in force, his nominee/
beneficiary shall be paid ₹50 lacs and the policy will terminate.
Policy Term of 35 years with a Base Sum Assured of 50 lacs

Age 40 41 50 55 75
Unfortunate demise in the 15th year

.......... ..................................
Pays Annual Premium: Rs. 46,800
for 10 years Sum Assured on Death of 50 lacs is paid as
lump sum and the Policy terminates
 Life ROP Option Illustration:

Scenario 2:
In case of survival till the end of policy term, provided the policy is in force, he would receive Sum Assured on Maturity
and the policy will terminate.

Policy Term of 35 years with a Base Sum Assured of 50 lacs

Age 40 41 50 55 75

.......... ..................................
Pays Annual Premium: Rs. 46,800
for 10 years
Sum Assured on Maturity of Rs.
4,68,000 is paid as lump sum and the
Policy terminates
 Legacy ROP Option:
This Plan Option will have Two Life Insured:
-Life Insured here means the Primary Life Insured (i.e. Parent) who is covered during the Policy Term^
and
-Secondary Life Insured here means the Child who is covered during the Extended Policy Term^
It can be opted when you choose to transfer your legacy sum assured to your child (natural or legally adopted). You
(Life Insured) have the flexibility to select the age at which you wish to receive the Sum Assured on Maturity. The
following options are available:
1. 60 years or;
2. 65 years or;

The policy anniversary following the attainment of Age 60 or Age 65 years (as opted for), the Sum Assured on Maturity
shall be paid to the Life Insured. Post payment, the Life Cover on the Life Insured will be terminated along with the
transfer of Basic Sum Assured on the life of the Secondary Life Insured, provided the Secondary Life Insured is alive. The
Secondary Life Insured will be covered till the end of the extended policy term^ i.e. till he / she reaches Age 60 years.

Note:
-Only single child is covered
-In case of unfortunate demise of the Secondary Life Insured, during the Policy Term no further addition/change will
be allowed
-The minimum Age gap between the Life Insured and Secondary Life Insured should be 18 years
 Legacy ROP Option:

Survival / Maturity Benefit:

On your survival till the end of the policy term (i.e. Age 60 or 65 years), Sum Assured on Maturity shall be paid. Post
payment of the benefit, the transfer of Basic Sum Assured shall be applicable on the life of the Secondary Life Insured. On
survival of the Secondary Life Insured till the end of the extended policy term^, no survival benefit shall be payable.

Death Benefit :

1. Death of Life Insured during the Policy Term^: In case of an unfortunate event of death of the Life Insured during the
policy term, provided the policy is in-force, the Sum Assured on Death shall be paid as a lump sum to the nominee /
beneficiary. The policy shall terminate once the benefit has been paid.
In the event of the death of the Life Insured, during the grace period, the Sum Assured on Death shall be adjusted for any
due unpaid premiums. In case of Non-Annual modes of premium payment, the outstanding instalment premiums for the
balance of the policy year of death shall also get deducted from the Sum Assured on Death.

2. Death of Life Insured after the Policy Term^: In case of an unfortunate event of death of the Life Insured after the end of
the policy term, Sum Assured on Death shall not be payable.
 Legacy ROP Option:

3. Death of Secondary Life Insured during the Extended Policy Term^: In case of an unfortunate event of death of
Secondary Life Insured during the extended policy term, the Sum Assured on Death as mentioned below shall be payable
as a lump sum to the nominee / beneficiary. The policy shall terminate once the benefit has been paid.

4. Death of Secondary Life Insured before the Extended Policy Term^: In case of an unfortunate event of death of
Secondary Life Insured before the inception of extended policy term, the Sum Assured on Death shall not be payable.

^Policy Term is the duration where the life cover is provided to the Life Insured & Extended Policy Term is the duration where life cover is
provided to the Secondary Life Insured. Extended Policy Term starts from the policy anniversary date immediately after the Life Insured
has attained Age 60 / 65 years (as opted for) and ends on the policy anniversary date immediately after the Secondary Life Insured has
attained Age 60 years.
 Legacy ROP Option:

Sum Assured on Death:

Highest of:
1. Basic Sum Assured or;
2. 11 times Annualized Premium1 or;
3. 105% of Total premium paid* till the date of death

In case the Life Insured is a Female Life, then the Sum Assured on Death shall be enhanced by 5%. In the event of transfer
of Basic Sum Assured to the Secondary Life Insured irrespective whether he/she is a Male or a Female life, the Sum
Assured on Death applicable shall be the enhanced benefit of additional 5%.

1Annualized Premium is the premium payable in a policy year, excluding loadings for extra mortality, modal premium, Goods and Services
Tax and Cess as applicable and Rider Premium, if any.
*Total Premium paid means total of all the premiums received including Extra Premium and Modal Loading, but excluding any Rider
Premium and Goods and Services Tax and Cess
In case of any discount on first year Premium, the Total Premium paid will be limited to the actual Premium paid by the Policyholder
 Legacy ROP Option Illustration:
Mr. Rahul, 35-years old, buys Kotak Life Gen2Gen Protect: Legacy ROP Option to protect himself and his child Sourav 2-
years old. He opts for a cover till the age of 65 years and decides to pay premiums annually for 10 years. He chooses
Base Sum Assured of Rs 50 lacs by paying premium of ₹35,800 (premium is exclusive of GST). Channel: Offline.

Scenario 1:
In case of an unfortunate demise of Mr. Rahul during the policy term, provided the policy is in force, his nominee/
beneficiary shall be paid Rs. 50 lacs and the policy will terminate.
Policy Term of 30 years with a Base Sum Assured of 50 lacs

Unfortunate demise in the 13th year

Rahul Age 35 45 48 65
Sourav Age 2 12 15 32

.......... .............
Pays Annual Premium: Rs. 35,800 Sum Assured on Death of 50 lacs is paid as
for 10 years
lump sum and the Policy terminates

Life Cover for Life Insured (Parent)

 Legacy ROP Option Illustration:

Scenario 2:
In case of survival till the end of policy term, provided the policy is in force, he would receive Sum Assured on
Maturity and the transfer of Basic Sum Assured shall be applicable on the life of the Secondary Life Insured.

Policy Term of 30 years with a Base Sum Assured of 50 lacs Extended Policy Term of 28 years with a Base Sum Assured of 50 lacs

Risk Transfer

Rahul Age 35 45 65
Sourav Age 2 12 32 60

.......... .......................................
Pays Annual Premium: Rs. 35,800
for 10 years
Sum Assured on Maturity of Rs.
3,58,000 is paid as lump sum

Life Cover for Life Insured (Parent) Life Cover for Secondary Life Insured (Child)
 Legacy ROP Option Illustration:

Scenario 3:
In case of survival till the end of policy term, provided the policy is in force, he would receive Sum Assured on Maturity
along with the transfer of Basic Sum Assured on the life of the Secondary Life Insured. In case of an unfortunate demise
of Mr. Sourav during the extended policy term, his nominee/ beneficiary shall be paid ₹50 lacs and the policy will
terminate.
Policy Term of 30 years with a Base Sum Assured of 50 lacs Extended Policy Term of 28 years with a Base Sum Assured of 50 lacs

Risk Transfer

Unfortunate demise in the 10th year

Rahul Age 35 45 65 Sum Assured on Death of 50

Age 2 12 32 42 lacs is paid as lump sum & the 60
Sourav Policy terminates
.......... .......................................
Pays Annual Premium: Rs. 35,800
for 10 years
Sum Assured on Maturity of Rs.
3,58,000 is paid as lump sum

Life Cover for Life Insured (Parent) Life Cover for Secondary Life Insured (Child)
 Sum Assured on Maturity:
Sum Assured on Maturity is defined as sum of Total premiums paid.
In case of any discount on First Year Premium, the Sum Assured on Maturity will be limited to the discounted premium
actually paid.

Enhancing your options by Additional Protection through Riders:

If you feel the insurance cover is not adequate or wish to customize the protection, you can do so (either at Inception of
the Policy or during the Policy Term) by attaching below mentioned optional Riders to your Base Plan on payment of
additional premium:

1. Kotak Accidental Death Benefit Rider (UIN:107B001V03): Lump sum benefit paid on accidental death in addition to
Death Benefit under the base plan
2. Kotak Critical Illness Plus Benefit Rider (UIN: 107B020V01): Rider Sum Assured shall be payable on admission of a
claim on any one of the 37 covered critical illness, subject to terms and conditions, definitions and specific exclusions
3. Kotak Permanent Disability Benefit Rider (UIN: 107B002V03): 120% of the Rider Sum Assured shall be payable over a
period of 5 years.

Note: Rider coverage is available only on the life of the Life Insured and not for Secondary Life Insured. For more details on
riders and exclusions, please refer to the Individual Rider Brochure before concluding the purchase
 Sample Illustration:

Given below are premiums for sample combination of entry age, policy term and premium payment term of 10 years, for
a Basic Sum Assured of 50 lacs buying the policy through an Agent.

Life ROP Option:

Entry age↓ / Policy Term→ To Age 60 To Age 65 To Age 70 To Age 75

30 years 22,050 24,950 28,200 32,350

35 years 28,100 31,100 35,000 39,750

40 years 37,000 38,150 41,650 46,800

45 years 51,250 54,750 55,550 60,600

Premiums mentioned above are annual premiums excluding Goods and Services Tax and Cess, as applicable and is for a healthy
individual male (non-tobacco user). The premiums are further subject to Goods and Services Tax and Cess, as applicable.
 Sample Illustration:

Legacy ROP Option:

Entry age↓ / Policy Term→ To Age 60 To Age 65

30 years 27,050 28,600
35 years 34,600 36,100
40 years 47,750 50,300
45 years 73,850 78,200

Secondary Life Insured age assumed is 5 years

Premiums mentioned above are annual premiums excluding Goods and Services Tax and Cess, as applicable and is for a healthy individual
male (non-tobacco user). The premiums are further subject to Goods and Services Tax and Cess, as applicable.
 Eligibility:
Eligibility Criteria Life ROP Option Legacy ROP Option

Minimum Age:
Life Insured: 18 years;
Secondary Life Insured: 3 months
Minimum Age for Life Insured:
18 years Maximum Age:
Entry Age (Age as on last Life Insured: 45 years
birthday) Secondary Life Insured: 17 years
Maximum Age for Life Insured: The Life Insured should be a major and Secondary Life
50 years (Maturity Age 70 / 75 years) insured should be a minor & the minimum Age gap
45 years (Maturity Age 60 / 65 years) between the Life Insured and Secondary Life Insured
should be 18 years
The Secondary Life Insured should be a major at the
start of the Extended Policy Term

Maturity Age (Age as on last

60 / 65 / 70 / 75 years (as per option chosen) 60 / 65 years (applicable for Life Insured)
birthday)

60 – Age at Entry (Option 1)

65 – Age at Entry (Option 2) 60-Age at Entry for Life Insured OR
Policy Term (PT)
70 – Age at Entry (Option 3) 65- Age at Entry for Life Insured
75 – Age at Entry (Option 4)
 Eligibility:
Secondary Life Insured will be covered till Age 60 years from
Extended Policy Term Not Applicable
the end of Policy Term

Premium Payment Term Limited Pay: 5 / 7 / 10 / 12 years / Pay till 60

(PPT) Note: Pay till 60 option shall not be available with Policy Term ‘60 – Age at Entry’

Premium Payment Mode Yearly, Half-Yearly, Quarterly and Monthly

The following modal loadings shall be used to calculate the instalment premium in case of Limited
Premium Payment Options:
Yearly 100% of Annual Premium

Modal Factor Half-Yearly 51% of Annual Premium

Quarterly 26% of Annual Premium
Monthly 8.8% of Annual Premium
 Eligibility:

Minimum Premium shall vary basis the Basic Sum Assured, Plan Option, Life Insured Age, Secondary Life
Premium Insured Age, Distribution Channel, Smoker Status, Policy Term, Premium Payment Term & Premium
Payment Mode

Minimum – ₹25,00,000
Basic Sum Assured
Maximum – No limit, subject to Underwriting Policy
 Wellness Benefits:

This product offers access to inbuilt Health & Wellbeing Platform Services such as Telemedicine Consultation,
Personal Medical Care & Lifestyle Management Programs, Emergency Response Service, Home Health care and
Pharmacy where the Life Insured can access exclusive benefits on a pay-per-use model.

These services are subject to:

• The availability of suitable service provider(s);
• Primary diagnosis (wherever applicable) has been done by a registered medical practitioner as may be
authorized by a competent statutory authority
• Health & Wellbeing Management Service is available to be utilized throughout the policy term.
• In case of any change, the details will be displayed on Our website (www.kotaklife.com) or You may
contact Our helpline number before using the services.
• Whenever the service is withdrawn, the same shall be communicated to all the policyholders. Prior to
effecting any changes, we shall inform the same to IRDAI.
 Wellness Benefits:

Note:

• These services are aimed at improving Policyholder engagement.

• These value-added services are completely optional for the eligible Life Insured to avail
• The Premiums charged shall not depend on whether such a service(s) is offered or availed.
• The Life Insured may exercise his/her own discretion to avail the services.
• These services shall be directly provided by the service provider(s).
• The services can be availed only where the policy / rider is in-force.
• All the supporting medical records (wherever applicable) should be available to avail the service.
• We reserve the right to change the service provider(s) at any time.
• The services are being provided by third party service provider(s) and we will not be liable for any liability.

Wellbeing App:
This is an inherent inbuilt feature of the platform wherein Life Insured will have complete access to Health
assessment, Activity trackers, Content and Blogs, Tools and Calculators, Electronic Health Records with ABHA
interoperability, Challenges and Quizzes and other services/ features as may be made available on the platform
targeted at improving the overall Health and wellbeing of the Life Insured.
 Tax Benefit:

You may avail tax benefits as per the Income Tax Act, 1961 subject to conditions as specified in those sections. Tax benefits
are subject to change as per tax laws. You are advised to consult your Tax Advisor for details. Goods and Services Tax and
Cess, as applicable shall be levied over and above premium amount shown here as per applicable tax laws.
 Free Look Period:

The Policyholder is offered a 30 days’ free look period to review the terms and conditions of the Policy (except for
policies having a policy term of less than a year) beginning from the date of receiving the Policy Document either
electronically or otherwise. In case the Policyholder is not agreeable to any terms and conditions of the Policy or
otherwise; then subject to no claims having been made hereunder, the Policyholder may choose to return the
Policy to the Insurer for cancellation, stating the reasons thereof within the aforesaid free look period.

Should the s/he choose to return the Policy, the Policyholder shall be entitled to a refund of the Premium paid
after deducting the proportionate risk Premium for the period of cover, stamp duty charges and expenses of
medical examination (if any). A Policy once returned shall not be revived, reinstated or restored at any point of
time and a new proposal will have to be made for a new Policy. Where Rider(s) are available under the base Policy
and so opted by the Policyholder, the same would also stand cancelled when the free look provision of the base
Policy is exercised.
Extract of Section 41 of the Insurance Act, 1938 as amended from time to time states:
(1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or
renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of
the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any
person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in
accordance with the published prospectuses or tables of the insurer:

(2) Any person making default in complying with the provisions of this section shall be liable for a penalty which
may extend to ten lakh rupees

Section 45 of the insurance Act, 1938 as amended from time to time states that:
Fraud and Misstatement would be dealt with in accordance with provisions of Section 45 of the Insurance Act,
1938 as amended from time to time. Please visit our website for more details:
https://www.kotaklife.com/assets/images/uploads/why_kotak/section38_39_45_of_insurance_act_1938.pdf
About Us

Kotak Mahindra Life Insurance Company Ltd is a 100% owned subsidiary of Kotak Mahindra Bank Limited (Kotak)
which provides insurance products with high customer empathy. Its product suite leverages the combined
prowess of protection and long term savings. Kotak Life Insurance is one of the growing insurance companies in
India and has covered over several million lives. For more information, please visit the company's website at
https://www.kotaklife.com

Kotak Mahindra Group

Kotak Mahindra Group is one of India's leading banking and financial services organizations, offering a wide range
of financial services that encompass every sphere of life. From commercial banking, to stock broking, mutual
funds, insurance and investment banking, the Group caters to the diverse financial needs of individuals and the
corporate sector. For more information, please visit the company’s website at www.kotak.com
 BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS /FRAUDULENT OFFERS
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment
of premiums. Public receiving such phone calls are requested to lodge a police complaint.

Kotak Gen2Gen Protect - UIN: 107N132V01, Form No: N132 , Kotak Permanent Disability Benefit Rider - UIN:
107B002V03, Form No.: B002, Kotak Critical Illness Plus Benefit Rider - 107B020V01, Form No.: B020, Kotak
Accidental Death Benefit Rider - UIN: 107B001V03, Form No: B001, Ref. No.: KLI/24-25/E-PPT/442

A Non-Linked Non-Participating Individual Savings Life Insurance Plan. For sub-standard lives, extra premium may
be charged based on Kotak Mahindra Life Insurance Company’s underwriting policy. The sales brochure gives only
the salient features of the plan. Please refer to the Policy Document for specific details on all terms and
conditions. For more details on riders please read the Rider Brochure.

Kotak Mahindra Life Insurance Company Ltd.; CIN: U66030MH2000PLC128503 Regn. No.:107, Regd. Office: 8th
Floor, Plot # C-12, G-Block, BKC, Bandra (E), Mumbai - 400 051. Website: https://www.kotaklife.com; WhatsApp:
9321003007; Toll Free No: 18002098800.

Trade Logo displayed above belongs to Kotak Mahindra Bank Limited and is used by Kotak Mahindra Life
Insurance Company Ltd. under license.