Features & Benefits of Kotak e-Term

Kotak e-Term is a pure term life insurance plan offered by Kotak Life Insurance. It is an online term plan, which means you can buy and manage the policy entirely online. The plan provides financial protection to your family in case of your unfortunate death during the policy term.

Features of Kotak e-Term

Kotak e-Term comes with unique features that make it a popular choice.

Affordable Coverage with a High Sum Assured

Kotak e-Term is crafted to deliver extensive coverage at budget-friendly rates. This ensures policyholders can secure substantial financial protection for their loved ones without incurring excessive expenses. Prioritizing cost-effectiveness allows individuals to safeguard their family’s future without imposing undue strain on their financial resources.

Three Plan Options for Flexibility

The plan provides the flexibility to choose from three distinct plan options based on individual needs. Once a plan option is selected at the inception, it remains unchanged throughout the policy term. These options include:

• Life Option: Sum Assured on Death
• Life Plus Option: Benefits under Life Option + Accidental Death Benefit
• Life Secure Option: Benefits under Life Option + Waiver of Future Outstanding Premium on Total and Permanent Disability

Diverse Payout Options

Kotak e-Term offers policyholders three payout options:

Immediate Payout

This is the most straightforward option, where the full sum assured is paid to your nominee in a lump sum immediately after your demise.

Level Recurring Payout

This option provides a regular income to your family after your demise. Lump sum payment of 10% of Sum Assured on death shall be paid immediately at the time of claim settlement. Additional 6% of Sum Assured on death shall be payable immediately at the end of every year for 15 years; the first payment being made one year after the date of death of the life insured. This helps ensure your family has a steady source of income to manage their expenses.

Increasing Recurring Payout

This option aims to address rising living costs. Similar to level recurring payout, the nominee receives 10% of the sum assured on death as a lump sum immediately in case of life insured’s demise. An additional 6% of Sum Assured on death is paid at the end of the first year from date of death. For the following 15 years, the payouts shall increase by 10% each year.

Also note that, with level and increasing recurring payout options, you have the flexibility to receive your annual payment in monthly installments. Monthly payment will be 8.22% of the annual payment, with the first payment starting one month after the date of demise of the life insured.

Option to Exit at Age 60

The plan offers policyholders the flexibility to exit at the age of 60, recognizing that financial priorities may evolve as retirement approaches. You can get back your premiums through Special Exit Value, under your policy, if your policy term is:

• 40 years: Earlier of the 25th policy year OR during the policy year, when you attain 60 years
• 40 years: Earlier of the 30th policy year OR during the policy year, when you attain 60 years

This structured exit option allows policyholders to reassess their financial plans and potentially utilize accumulated benefits.

Special Rates for Women and Non-Tobacco Users

Non-tobacco users and women enjoy special premium rates, acknowledging and rewarding healthier lifestyle choices and gender considerations. The discounted rates enhance accessibility and cost-effectiveness for these demographic groups.

Advantages of Opting for Kotak e-Term

In addition to providing the essential benefits inherent to a term plan, the Kotak online term plan presents a range of additional advantages:

Affordability

• Affordable premiums: Kotak e-term offers affordable premiums making it an economical choice for those seeking high coverage at a reasonable cost.
• Non-smoker and female discounts: The plan offers further discounts on premiums for non-smokers and women, making it even more budget-friendly for these groups.

Flexibility

• Multiple plan options: Choose from Life, Life Plus, and Life Secure options to tailor the plan to your specific needs for coverage and payout structure.
• Payout options: Select between Immediate, Level Recurring, or Increasing Recurring payout options to ensure your family receives financial support in the way that best suits them.
• Optional rider: Enhance your coverage with optional rider for critical illness, providing comprehensive protection.

Additional benefits

• Special Exit Value Option: Get your premiums back through Special Exit Value, under your policy, if your policy term is:
• 40 years: Earlier of the 25th policy year OR during the policy year, when you attain 60 years
• 40 years: Earlier of the 30th policy year OR during the policy year, when you attain 60 years
• Inbuilt wellness benefits: Access to telemedicine consultations, lifestyle management programs, and other wellness services through the Kotak Wellbeing App at no extra cost.
• Online convenience: Enjoy a fully online purchase and management process, making it quick and hassle-free.

Way Forward

With its emphasis on affordability, the Kotak e-Term offers affordable premiums, making it an economical choice compared to other term plans. The unique features, such as non-smoker and female discounts, further enhance its cost-effectiveness for specific demographic groups. The convenience of an entirely online purchase and management process adds to the plan’s appeal, ensuring a quick and hassle-free experience for policyholders.

This plan not only provides essential financial protection in the unfortunate event of your demise but also offers benefits designed to meet the evolving needs of customers, making it a diplomatic choice for those seeking a reliable and versatile term life insurance plan.

Term & Conditions:

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

Kotak e-Term: UIN:107N129V02, Form No: N129, Kotak Critical Illness Plus Benefit Rider - 107B020V01, Form No.: B020. This is a non-participating pure protection plan. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale. For more details on riders please read the Rider Brochure.

Kotak Mahindra Life Insurance Company Ltd; CIN: U66030MH2000PLC128503 Regn. No.:107, Regd. Office: 8th Floor, Plot # C-12, G-Block, BKC, Bandra (E), Mumbai - 400 051. Website: www.kotaklife.com | WhatsApp: 9321003007 | Toll Free No. -18001207856 Ref. No.: KLI/24-25/E-WEB/164

Trade Logo displayed above belongs to Kotak Mahindra Bank Limited and is used by Kotak Mahindra Life Insurance Company Ltd. under license.