Kotak Capital Multiplier plan - how is this policy?

[Ajeet]

I have taken Kotak Capital Multiplier plan (UIN-107NO11V01) with two riders (accident death benefit & permanent disability benefit). I am paying Rs. 30000/- per year premium since 2010 and will pay for 14 years. Can you please how is this policy? Can I continue and what will be maturity benefit (approximately).

[PolicyWala]

As per Kotak Capital Multiplier plan (http://insurance.kotak.com/individual/pdf/KotakCapitalMultiplierPlan.pdf) -
Surrender: On completion of three policy years, the policy acquires a Guaranteed Surrender Value provided all due premiums have been paid on time. The Guaranteed Surrender Value will be 30% of all premiums paid to date, excluding the first year's premium and extra premiums and rider premiums, if any. The value of bonus interest will also be included in the Surrender Value. The Company may consider paying a Special
Surrender Value, which will not be less than the Guaranteed Surrender Value as stated above.

So if you surrender it after paying 2 years premium, you will get 30% of 2 year premium => means 10000/ only.

[Manish_Kumar]

I have taken Kotak Capital Multiplier plan (UIN-107NO11V01) with two riders (accident death benefit & permanent disability benefit). I am paying Rs. 30000/- per year premium since 2010 and will pay for 14 years. Can you please how is this policy? Can I continue and what will be maturity benefit (approximately).Kotak Capital Multiplier plan is a retirement plan, so it will take some time to build corpus and as they invest in the long term return asset, so in short term you won't get much.

As per the plan the first premium will not be counted for surrender and in the second only 30% is refundable, so out of 60,000/-, you will get only 10,000/-.

Review the plan before buying!