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The Kotak Assured Savings Plan helps you meet your financial goals while saving for the future.Invest in Kotak Assured Savings Plan to get benefits like tax exemption on maturity, and guaranteed returns. The affordable life protection plan comes with the lowest monthly premium of ₹1760, and there’s no maximum limit.

The minimum entry age for the savings plan is three years, while the maximum age is 60 years. Riders can further enhance the savings plan with add-ons like Kotak Permanent Disability Rider, Kotak Term Benefit Rider, and more. If you want to know about a few scenarios when there’s no better alternative to investing in a Kotak Assured Savings plan, then scroll down till the end.

1.  Setting up a College Fund for Grandchildren

Your grandchildren will love all the chocolates, clothes, and other gifts at special occasions and festivals. But if you want to do something bigger for your grandchildren, then there’s nothing more appropriate than investing in Kotak Assured Savings Plan. Helping your grandchildren pursue their academic goals without worrying about finances will be more fulfilling and rewarding.

They might have plans to pursue a prestigious degree abroad. Maybe they wish to gain several degrees to build a robust career. When you set up an educational fund for them, they will understand your genuine care and concern.

Kotak Assured Savings Plan will ensure that your grandchildren receive a lump sum payout on maturity. It will make your grandchildren study in their dream college without worrying about the expenses. Moreover, the insurance cover associated with the savings plan will protect them from unforeseen complications during their educational journey.

2.  Starting a Business

A 9-5 job brings a lot of financial security, but you don’t have too much freedom. Several people consider running a business after working a regular job for a few years. You might be tempted to use your savings to grow your business.

But you must consider the long-term future and invest in a savings plan. It will ensure that all your essential expenses are taken care of while running the business. The savings plan will protect against all the risks associated with setting up a new venture.

An assured savings plan will ensure that you have a steady source of income. You can add your spouse or children as a nominee under the policy. The nominee will be eligible for the Basic Death Benefit and Guaranteed Yearly Additions if the policyholder passes away before the plan’s expiry.

3. Maternity Leave Period

Becoming a mother brings an abundance of joy in life. You get to spend some precious moments with your little one during your maternity leave. It shouldn’t be the time when you worry about financial issues.

A well-thought savings plan will decrease the financial burden during such a happy time. You don’t have to worry irrespective of whether your maternity leave is paid or unpaid. It will serve as a source of income and make up for the lost income if you decide to extend your leave.

Ending Note

A Kotak Assured Savings Plan is a smart decision if you wish to keep financial worries at bay. Irrespective of your financial goals and the stage of your life, a savings plan is beneficial for everyone.

Click here to know more about Kotak Assured Savings Plan:https://www.kotaklife.com/insurance-plans/savings-and-investments-plans/kotak-assured-savings-plan