Kotak Classic Endowment Plan Calculator

Kotak Classic Endowment Plan Calculator

Kotak Classic Endowment Plan is a with-profits (participating) individual savings life insurance plan from Kotak Mahindra Life Insurance. You choose a Basic Sum Assured and a Policy Term, pay premiums for a Premium Payment Term (regular or limited), and in return the policy builds up a maturity benefit in three stages: Guaranteed Additions in the early years, a Simple Reversionary Bonus declared every year after that, and a one-time Terminal Bonus if the policy runs long enough.

This calculator estimates the premium, the maturity benefit, and the guaranteed death benefit using illustrative rates modeled on the plan's published benefit structure. It does not reproduce Kotak Life's official benefit illustration — always confirm exact figures with your policy document or a Kotak Life advisor before making a purchase decision.

Premium Payment Term and Policy Term

You can choose to pay premiums for the same duration as the Policy Term ("Regular Pay"), or for a shorter duration ("Limited Pay") that ends 10 or 15 years before the policy matures:

Premium Payment Option	Premium Payment Term
Regular Pay	Same as Policy Term
Limited Pay - 10 Years Less	Policy Term − 10 years (Policy Term must be ≥ 15 years)
Limited Pay - 15 Years Less	Policy Term − 15 years (Policy Term must be ≥ 20 years)

A shorter Premium Payment Term means a higher annual premium for the same Sum Assured, since the same total commitment is compressed into fewer payments.

Annual Premium

$$\text{Annual Premium} = \frac{\text{Sum Assured}}{1000} \times \text{Tabular Rate}$$

The tabular rate (₹ per 1,000 Sum Assured) combines a savings component that shrinks as the Premium Payment Term lengthens with a mortality component that grows with your Age at Entry.

Guaranteed Additions (first 5 policy years)

For each of the first 5 policy years, a flat, non-compounding addition accrues at a fixed rate per 1,000 Sum Assured:

$$\text{Guaranteed Additions} = 5 \times \frac{\text{Sum Assured}}{1000} \times 50$$

Simple Reversionary Bonus (from policy year 6 onwards)

From policy year 6 until maturity, a Simple Reversionary Bonus is illustrated as accruing every year at a fixed rate per 1,000 Sum Assured, on top of the Guaranteed Additions already built up:

$$\text{Reversionary Bonus} = (\text{Policy Term} - 5) \times \frac{\text{Sum Assured}}{1000} \times 40$$

Terminal Bonus

Policies with a Policy Term of 15 years or more are illustrated as earning a one-time Terminal Bonus, paid only at maturity:

$$\text{Terminal Bonus} = \frac{\text{Sum Assured}}{1000} \times 1200 \quad \text{(if Policy Term} \geq 15\text{)}$$

Total Maturity Benefit

$$\text{Maturity Benefit} = \text{Sum Assured} + \text{Guaranteed Additions} + \text{Reversionary Bonus} + \text{Terminal Bonus}$$

Sum Assured on Death

In line with the IRDAI minimum floor for traditional participating plans, the death benefit is the higher of the Basic Sum Assured or 10 times the annualized premium:

$$\text{Sum Assured on Death} = \max(\text{Sum Assured},\ 10 \times \text{Annual Premium})$$

How to use this calculator

1. Enter your Age at Entry.
2. Enter the Basic Sum Assured you want.
3. Choose a Policy Term (10, 15, 20, or 25 years).
4. Choose a Premium Payment Option (Regular Pay, or Limited Pay 10/15 years less than the Policy Term).
5. Choose a Premium Payment Mode (Yearly, Half-Yearly, Quarterly, or Monthly).
6. Submit to see the premium, Guaranteed Additions, Reversionary Bonus, Terminal Bonus, total maturity benefit, guaranteed death benefit, and a year-by-year benefit schedule.

Worked example

Suppose you are 30 years old, choose a Basic Sum Assured of ₹10,00,000, a 20-year Policy Term, and Regular Pay.

• Premium Payment Term: 20 years (same as Policy Term)
• Guaranteed Additions: 5 × (10,00,000 / 1000) × 50 = ₹2,50,000
• Reversionary Bonus: (20 − 5) × (10,00,000 / 1000) × 40 = ₹6,00,000
• Terminal Bonus (Policy Term ≥ 15): (10,00,000 / 1000) × 1200 = ₹12,00,000
• Total Maturity Benefit: 10,00,000 + 2,50,000 + 6,00,000 + 12,00,000 = ₹30,50,000, paid in Policy Year 20