"What is Kotak Child Advantage Plan?" The Kotak Child Advantage Plan is an investment plan designed to meet your child's future financial needs. It's a plan that gives your child the "azaadi" to realize his dreams. The plan is a participating plan with a 15-day free look period. "What are the advantages of this plan?" On Maturity, you would receive the sum assured plus the bonus addition. Bonus addition is the amount in the Accumulation Account*, in excess of the sum assured. The balance available in the Accumulation Account is invested in various financial instruments (as per IRDA regulations) so your money works hard to earn more for your child. The Automatic Cover Maintenance facility ensures the policy remains in force even if you miss premium payments. This facility is available after the first three years of the Term. You can take a loan against this plan, after the policy has been in force for at least three years. You have the option of paying premiums quarterly, half yearly or yearly. "What value-adds can you opt for?" You may avail of these value adds for a nominal premium at the time of taking the plan. The aggregate premium of the value-adds should not exceed 30% of the basic policy premium. Life Guardian Benefit: In case of the unfortunate death of the premium payer, this benefit keeps the policy alive by waiving all future premiums on the policy. Accidental Disability Guardian Benefit: In case the premium payer is permanently disabled as a result of accident, this benefit keeps the policy alive by waiving all future premiums on the policy. "Are there any Tax Benefits?" Section 80C, 10(10D) of Income Tax Act, 1961 would apply. You are advised to consult your tax advisor for details.

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