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Kotak e-Invest

Insurance and Investment in one plan.

Kotak e-Term

Protect your family's financial future.

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A plan that offers guaranteed income for your future goals.

Kotak T.U.L.I.P

A plan that works like a term plan, and Earns like ULIP Plan.

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A plan that offer guaranteed returns and financial protection for your family.

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A plan that offers immediate or deferred stream of income

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Retirement years are the golden years of life.

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A plan that offers long term savings and life cover.

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Reasons Why You Should Buy Kotak e-Term?

Kotak e-Term offers a comprehensive and flexible approach to life insurance, focusing on affordability, customization, and adaptability to the customer's evolving life circumstances.

  • 1,660 Views | Updated on: May 31, 2024

Kotak e-Term is a thoughtfully crafted insurance plan exclusively designed to offer pure risk coverage, safeguarding your loved ones. It stands out as a cost-effective solution that provides a high level of protection. Kotak e-term plan presents specially discounted premium rates for its customers. It also provides special rates for non-tobacco users & women.

In the unfortunate event of the life insured’s demise during the policy term, the chosen Plan Option determines the Death Benefit payable to the beneficiary. Additionally, this plan allows you to augment your coverage by opting for protection against accidental death and total & permanent disability. Furthermore, you have the flexibility to select supplementary coverage through Kotak Critical Illness Plus Benefit Rider by paying extra premiums. This comprehensive approach ensures a thorough safeguard against unforeseen circumstances.

Benefits of Buying Kotak e-Term

Along with offering the benefits that a term plan should provide, Kotak e-term plan has a lot more to offer. Let us take a look at the list of advantages this plan provides:

Low-cost Insurance with High Cover

Kotak’s e-Term is designed to provide a high level of coverage at affordable prices. This means that life insured can enjoy the security of substantial financial protection for their loved ones without incurring exorbitant costs. The emphasis on cost-effectiveness ensures that individuals can secure their family’s future without straining their financial resources.

Three Plan Options

You have the flexibility to choose any of the three plan options offered at the beginning of this plan, according to your needs. Once you have selected a plan option, it remains fixed throughout the policy term and cannot be altered. These plan options include the following:

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

Three Payout Options

Kotak e-term Plan provides policyholders with three different Payout Options. These options include:

  • Immediate payout
  • Level recurring payout
  • Increasing recurring payout

The flexibility in payout options allows individuals to choose the most suitable method for their beneficiaries to receive the death benefit. This customization ensures that the payout aligns with the financial needs and goals of the family left behind.

Enhanced Protection

Kotak e-Term not only covers death but also provides enhanced protection against specific adversities. This includes coverage against Accidental Death, Critical Illness, and Total Permanent Disability. This ensures a comprehensive safety net, addressing a variety of potential life-altering events.

Special Rates for Non-Tobacco Users & Women

Non-tobacco users and women are offered special premium rates. This recognizes and rewards healthier lifestyle choices and gender considerations. The discounted rates make the plan even more accessible and cost-effective for these demographic groups.

Special Exit Value Option

The plan offers the flexibility to exit at the age of 60. This option recognizes that financial needs and priorities may change as individual’s approach retirement age. Exiting at age 60 provides a structured way for you to reassess your financial plans and potentially utilize the benefits.

A Special Exit Value shall be payable to you, where the total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums, if any shall be returned if you terminate the policy. You shall have a period of one year to avail this benefit and it can be availed as per the below mentioned conditions:

For Policy Term 40 years

25th Policy Year or during the policy year when the attained Age of the Life Insured is 60 years (age last birthday), whichever is earlier.

For Policy Term greater than 40 years

30th Policy Year or during the policy year when the attained Age of the Life Insured is 60 years (age last birthday), whichever is earlier

Tax Benefits

You have the opportunity to benefit from tax advantages under the Income Tax Act, of 1961, subject to the specified conditions outlined in those sections. It is recommended that you seek guidance from your Tax Advisor for detailed information.

Flexible Premium Payments

You can have the flexibility of paying premiums as per the Kotak e-term plan. Let us take a quick look:

Premium Payment Term

Policy Term

Regular Pay

Same as Policy Term

Min: 5 years

Max:

Life & Life Secure Option: Highest of 40 years or 75 years minus less age at entry or 85 years minus less age at entry

Life Plus Option: Highest of 40 years or 75 years minus less age at entry

Limited Pay

5 Pay

Min: 10 Years

Max:

Life & Life Secure Option: Highest of 40 years or 75 years minus less age at entry or 85 years minus less age at entry

Life Plus Option: Highest of

40 years or 75 years minus less age at entry

7 Pay

Min: 12 Years

10 Pay

Min: 15 Years

15 Pay

Min: 20 Years

Pay till 60 (Minimum PPT of 10 Years)

Min: 15 Years

Single Pay

One Time Payment

Min: 5 Years

Max: • Life Option: Highest of 40 Years or 75 Years less Age at Entry or 85 Years less Age at Entry • Life Plus Option: Higher of 40 Years or 75 Years less Age at Entry

Life Secure option shall not be applicable for the Single Pay Policy

How Does this Plan Work?

Like other term plans, the Kotak e-term plan also works in the same way. You have to follow certain steps to avail of the benefits of this plan:

Step 1

Select your basic sum assured, policy term, and premium payment term based on your requirements.

Step 2

For next step, you have to select any one of the 3 Plan Options offered by the plan:

  • Life
  • Life Plus
  • Life Secure

Step 3

Now this is time for premium payment. Kotak e-Term offers three payout options to choose from:

  • Immediate Payout
  • Level Recurring Payout
  • Increasing Recurring Payout

Step 4

Choose the premium paying mode as per your requirement.

Step 5 (Optional)

Kotak e-Term provides additional cover through the below rider:

  • Kotak Critical Illness Plus Benefit Rider

This rider help cover any additional expense due to unfortunate events that might not be covered under the regular term plan.

Final Thoughts

Kotak e-Term stands out for its cost-effectiveness, offering a high level of coverage at economical prices, but it also introduces several features that enhance its value. The three distinct Plan Options, combined with the three Payout Options, grant policyholders unparalleled flexibility to tailor their coverage according to their specific needs and circumstances.

Suggested Readings

1. Why You Must Include In Your Financial Planning?

2.Buying A Term Insurance? Don’t Ignore the Claims Settlement Ratio

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.

Tax Benefits

You may avail of tax benefits as per Income Tax Act, 1961 subject to conditions as specified in those sections. Tax benefits are subject to change as per tax laws. Customer is advised to take an independent view from tax consultant.

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/153.

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

- A Consumer Education Initiative series by Kotak Life

Amit Raje
Written By :
Amit Raje

Amit Raje is an experienced marketer who has worked in various Fintechs and leading Financial companies in India. With focused experience in Digital, Amit has pioneered multiple digital commerce in India. Now, close to two decades later, he is the vice president and head of the D2C business department. He masters the skill of strategic management, also being certified in it from IIMA. He has challenged his challenges and contributed his efforts in this journey of digital transformation.

Amit Raje
Reviewed By :
Prasad Pimple

Prasad Pimple has a decade-long experience in the Life insurance sector and as EVP, Kotak Life heads Digital Business. He is responsible for developing user friendly product journeys, creating consumer awareness and helping consumers in identifying need for life insurance solutions. He has 20+ years of experience in creating and building business verticals across Insurance, Telecom and Banking sectors

Kotak e-Term

Download Brochure

Features

  • Life Cover till 85 years for Life & Life Secure Option
  • 3 Payout Options
  • Special Rates for Women
  • Option to exit the policy with premium refund at the age of 60*
  • Special Rates for Non-Tobacco Users
  • Free Medical Check Up every 5th year**

Ref. No. KLI/22-23/E-BB/2435

T&C