Kotak Guaranteed Fortune Builder is a dynamic savings oriented life insurance plan to cater multiple needs of wealth creation, income for long term goals or to secure child’s future with guaranteed payouts and life cover.

Any individual between the age of 1 years to 60 years can buy this plan. In case of minor life, i.e. life insured below 18 years, plan has to be purchased by proposer who should be minimum 18 years of age.

Long Term Income option offers choice to receive Guaranteed Income in arrears for 15, 20 or 25 years commencing at the end of the Policy Term. Further, there are two options to avail Guaranteed Income:

• Income with 100% Return of Total Premiums paid - Guaranteed Income will be paid in arrears as per the Income Benefit frequency during the Income Benefit Period. At the end of Income Benefit Period, 100% of Total Premiums Paid (excluding taxes, rider premium & modal loadings) will be paid in lump sum along with the last guaranteed income payout.
• Income only - Guaranteed Income will be paid in arrears as per the Income Benefit frequency during the Income Benefit Period, which commences at the end of the Policy Term.

Income Benefit Period is the time period post the Policy Term during which the income benefit is paid. Policyholder has the option to choose Income Benefit period as 15 years, 20 years, 25 years. Income Benefit Period has to be chosen at inception and cannot be changed thereafter.

Under this option, Basic Sum Assured plus Loyalty Addition plus accrued Guaranteed Yearly Additions (if any) will be paid to the Policyholder in lump sum.

Guaranteed Yearly Additions (GYA) will accrue annually during the premium payment term on the accumulated premiums paid, commencing from the end of 1st policy year and will continue till the end of premium payment term.

After the end of premium payment term, Policyholder will have the option to encash the Cash Value of Accrued Guaranteed Yearly Additions anytime during the policy term, minimum encashment amount of ₹2,000 and maximum up to the accrued Guaranteed Yearly Additions amount.

Death Benefit for Single Life under plan option Long Term Income:
Sum Assured on Death will be paid in lump sum to the nominee

Death Benefit for Single Life under plan option Assured Wealth:
Sum Assured on Death plus accrued Guaranteed Yearly Additions, if any will be paid in lump sum to the nominee.

On survival of Life Insured till the end of the policy term,

a.    Under Long Term Income :-

Guaranteed Income payouts shall be payable in arrears as per the Income Benefit and Income Benefit Frequency of the payout opted by the Policyholder.

In case of Long Term Income Option A, 100% return of total premiums (excluding loading for modal premium, if any) shall be payable along with last Guaranteed Income payout.

b.    Under Assured Wealth, on maturity :-

• Basic Sum Assured plus
• Loyalty Addition plus
• Accrued Guaranteed Yearly Additions, if any