Kotak e-Term Plan
Kotak e-Term Plan provides a high level of protection to your loved ones in your absence.
Kotak E-Invest Plan
Kotak e-Invest plan is a complete Unit-Linked Insurance Plan that can be customized as per your goals and needs.
Kotak Guaranteed Savings Plan
Kotak Guaranteed Savings Plan is a savings and protection plan that helps you achieve long-term financial goals and provides an insurance cover against any eventuality.
Kotak Lifetime Income Plan
Kotak Lifetime Income Plan gives you the security of your income continuing thru your life and in your absence throughout your spouse's lifetime!
Kotak Health Shield
Kotak Health Shield Plan helps secure your finances in sudden medical expenses such as Cardiac, Liver, Neuro, and Cancer (all early and significant illness stages/conditions of cancer), along with offering protection for personal accidents - in case of accidental death or disability.
Our representative will get in touch with you at the earliest.
There’s no denying that people do not want a One Size Fits All solution for anything. From what you wear to how and where you eat, you appreciate the option to customize everything as per your needs and convenience. Likewise, when it comes to one of the most important financial decisions you take for your family’s secure future, you are on the lookout for ways to enhance your coverage.
When you think of ways to boost your life coverage plan to support your dear family, what proves beneficial is a protection rider! It gives you the opportunity to add extra security to your plan, by paying a slightly higher premium. Term insurance is nothing but a pure life cover policy that provides for your family in case of an unfortunate event. Insurance riders are the extra benefits or privileges that bolster your term plan by shedding a few extra amounts. Term insurance is a fundamental but essential financial product and adding suitable riders with your insurance policy makes it comprehensive, providing the extra firepower.
While most term insurance policies provide the benefit of riders, their costs and conditions vary per the term policy, premiums and the company. Buying a term rider means paying extra, but the additional premium is generally low because relatively little underwriting is required, and their sum assured is less than the insurance cover. These premium amounts depend on different aspects like – the sum assured, age of the policyholder, policy term selected, payment term, etc.
Some riders can be purchased as stand-alone insurance as well. Critical illness insurance, for example, is available as a stand-alone policy and a rider with term and health insurance plans. In addition, some of the riders are available as add-ons to your insurance policy.
Below mentioned are the common riders in insurance and what they cover:
An Accidental Death Rider provides an additional layer of security to your family’s future by offering an additional sum assured if you pass away due to an accident.
Whether you succumb or survive disabled in an accident, your family would equally be left in the lurch. So, your financial burden in such cases is borne by a permanent or partial disability rider. It protects your family’s future by covering the risk and substituting your income.
Major illnesses such as cancer, heart attack, kidney failure, coronary artery bypass surgery, and paralysis not only have an emotional impact on you and your loved ones, but the necessary treatment can also deplete your savings. Upon diagnosis with a critical disease pre-specified in the policy, the Critical Illness Rider can cover you with a lump sum amount.
Consider a case where you have been paying insurance premiums for a long time but cannot do so due to a disability. In most cases, your insurance will expire, and you will receive a no-death benefit due to non-payment of premiums. However, if you choose this rider, your premiums will be waived if you become disabled during the period.
When you pass away, ensuring a steady flow of income for your family becomes a significant concern. If you opt for this term insurance rider , your family or nominee will get additional income in addition to the sum insured amount for the next 5-10 years.
Whichever rider you select, you should not forget to read its terms and conditions before opting for it thoroughly. Riders in insurance prevent you from compromising with the future of your loved ones by offering additional coverage. It allows your family to remain financially stable and lead a peaceful life with your memories, regardless of whether you are around or not.
- A Consumer Education Initiative series by Kotak Life
Kotak Classic Endowment Plan is a long term protection cum savings plan that offers protection benefit while earning bonuses during the policy term.
Know moreKotak Group Secure One provides a comprehensive protection solution to enable your team members to protect their loved ones in the unfortunate event o...
Know moreKotak Credit Term Group Plan provides life cover to a group of borrowers of credit institutions where the life assured is the borrower and the credit ...
Know moreKotak Complete Cover Group Plan is a non-participating single-premium plan that provides life cover to a group of borrowers of the credit /lending ins...
Know moreKotak Assured Return Employee Benefit Plan is an insurance plan designed for Employers /Trusts, Employer – Employee groups who wants experts to mana...
Know moreKotak Group Secure Capital Plan is a Non-Participating, Guaranteed Unit Linked Fund Based Group Life Insurance Plan. It enables Employers /Trusts to m...
Know more