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Insurance is a fundamental aspect of modern life that provides financial protection and peace of mind in the face of unforeseen events and risks. Life Insurance plans and policies serve as a safety net, helping individuals, families, and businesses navigate the uncertainties of life. These financial instruments have evolved over years, adapting to the changing needs of society and the complexities of the modern world.
Ensuring your family's financial stability, no matter what.
Online plan
Get₹1Cr.Life Cover and
Return of Premiums of₹4,03,440at 65 age on survival
By just Paying₹3,362+per month for 10 years
Online plan
Get₹1Cr.Life Cover With just₹17/day^!
Invest for your dreams, ensure your financial goals
Online plan
Pay₹10,000~per month for 10 years
Get₹27.16 Lakh~Guaranteed Returns at the end of 20thyear
Online plan
Pay₹10,0002per month for 10 years
Get₹17,9482per month for 15 years
“IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER”Get the advantage of Investments along with Insurance.
Online plan
Pay₹1,00,0003per month for 20 years
Get₹41.22 Lakh3
@8%#p.a. at the end of 20thyear
Get₹26.43 Lakh3
@4%#p.a. at the end of 20thyear
Online plan
Pay₹1,00,0004per month
Get₹52.87 Lakh4
@8%#p.a.
Get₹18.91 Lakh4
@4%#p.a.
Secure investment for a financially-secured tomorrow.
Online plan
Pay₹1,000,000as single pay7
Get68,470/yearas annuity
&₹10,00,000in cashback to the nominee on death
Online plan
Pay₹5,00,00066per year for 10 years
Get₹4,17,50066for lifetime
A life insurance policy is a contract that pays money to your loved ones when you pass away, helping them financially after your death. This financial safety net ensures that your loved ones can maintain their quality of life, pay off debts, cover living expenses, and achieve their long-term goals even in your absence.
Choosing to invest in a life insurance policy is a proactive and responsible decision that provides financial security and peace of mind for you and your loved ones. In this ever-changing world, where the future is uncertain, having a reliable life insurance plan in place is a prudent choice.
There are five primary categories of life insurance plans:
Term life insurance is a cost-effective option that offers coverage for a specified period. It provides a death benefit to your beneficiaries if you pass away during the policy term. Term policies do not accumulate cash value, making them simpler and more affordable compared to other types of life insurance plan. These plans are ideal for those seeking substantial coverage at a lower premium, especially during critical life stages such as raising a family or paying off a mortgage.
Savings plans are specialized financial instruments crafted to facilitate systematic saving while providing consistent returns, thereby assisting you in reaching your financial objectives. Given their core function as life insurance products, these plans also offer reassurance by safeguarding the financial well-being of your family in the event of unforeseen circumstances.
ULIPs are a unique combination of insurance and investment, allowing policyholders to allocate a portion of their premium towards investments in a range of funds (equity, debt, or balance). ULIPs provide the opportunity for potential wealth creation, but they also carry market risks. Policyholders have the flexibility to switch between investment funds based on market conditions and their risk appetite. Over time, the policy may build a cash value that can be utilized for various financial goals, or a death benefit is paid out to beneficiaries in case of the policyholder's demise.
Retirement plans, also known as pension plans or annuities, are specifically designed to provide a regular income stream during your post-retirement years. These plans ensure that you maintain a certain standard of living even when you are no longer earning a regular income. Retirement plans can be immediate, where you start receiving payouts shortly after investing a lump sum, or deferred, where you contribute over time and receive payouts after retirement. These plans are vital for building a financially secure retirement, allowing you to enjoy your golden years without financial worries.
Health insurance is an agreement between an individual and an insurance company in which the insurer agrees to cover a portion or all of the insured person's medical expenses in exchange for regular premium payments. These expenses can include doctor visits, hospital stays, prescription medications, preventive care, and more. The goal of health insurance is to safeguard individuals and families against the high costs of medical treatments.
Life insurance offers numerous benefits that contribute to your peace of mind and your loved ones' future:
Life insurance provides a safety net, ensuring that your family's financial needs are met, including mortgage payments, education expenses, and daily living costs.
If you are the primary breadwinner, a life insurance policy can replace lost income, enabling your family to maintain their standard of living.
Your outstanding debts, such as loans and credit card balances, will not burden your family in your absence. The policy's death benefit can be used to settle these obligations.
Business owners can use life insurance to ensure the seamless continuation of their business operations or provide funds for succession planning.
Whole life and universal life come with a cash value component that grows over the years. This cash value is invested by the insurance company, and it accrues interest and other earnings on a tax-deferred basis.
Life insurance policies often offer tax advantages that can benefit both the policyholder and the beneficiaries. The death benefit paid to your beneficiaries is typically income tax-exempt , ensuring that your loved ones receive the full benefit amount without any tax implications.
Life insurance policies often allow you to add rider policies to customize your coverage to your specific needs. Rider policies are additional features or benefits that can be included with your primary life insurance policy for an extra premium. Common rider options include:
This provides a lump-sum payment if you are diagnosed with a covered critical illness, such as cancer, heart attack, or stroke, during the policy term. It helps cover medical expenses and other financial obligations during a health crisis.
This pays a monthly income if you become disabled and are unable to work. It ensures you have a steady stream of income to cover living expenses while you recover.
If you become disabled or seriously ill, this rider can waive your premium payments, ensuring that your life insurance coverage remains in force even when you can't afford to pay the premiums.
This extends coverage to your spouse or children, providing them with financial protection in the event of their death or critical illness.
The decision to select the best life insurance company should be made carefully, as it can have a long-lasting impact on your financial security and that of your loved ones.
One of the primary factors to consider when choosing a life insurance company is its financial stability. Look for a life insurance company with a solvency ratio significantly above the regulatory requirements. Kotak Life Insurance has a solvency ratio of 2.73.
When evaluating life insurance companies, it is essential to research their financial stability and reputation within the industry. Look for high credit ratings and a strong track record of fulfilling claims promptly.
Consider the variety of life insurance policies offered by the company. Whether you are interested in term life, whole life, or universal life insurance plans, make sure the company has a range of options that align with your financial goals and family's needs.
Compare premium rates offline and online to ensure you are getting a competitive price for the coverage you need. It is important to strike a balance between affordability and comprehensive coverage.
The claim settlement ratio is another crucial metric to assess when evaluating life insurance plans. This ratio reflects the percentage of claims that the insurer successfully pays out compared to the total number of claims received. Kotak Life Insurance holds a brilliant claim settlement* ratio of 98.29% for the year 2023-24.
Reading reviews and testimonials from current policyholders can provide valuable insights into a company's customer satisfaction levels and claims handling process.
Life insurance plan is a versatile financial tool that can be tailored to meet the needs of various individuals and situations. It is available to:
If you are an adult, you can purchase a life insurance policy to protect your loved ones financially in the event of your untimely demise. Whether you are single, married, a parent, or a retiree, life insurance ensures that your family's financial well-being is safeguarded.
As a responsible parent or guardian, you can secure your children's future by obtaining a life insurance policy. Plans like savings or ULIP can ensure your kids have the financial resources they need for education, healthcare, and other essential needs.
Life insurance plans (such as term insurance) provides a safety net for married couples, offering financial support to the surviving spouse if one partner passes away. It can help cover mortgage payments, outstanding debts, and everyday living expenses.
If you are a business owner, life insurance plan can play a crucial role in your succession planning. It ensures a smooth transition of business ownership and provides funds to cover any outstanding business debts.
Homeowners can use life insurance plan to protect their family's ability to keep their home in case of unforeseen circumstances. It can help cover mortgage payments and maintain the family's lifestyle.
Even if you are retired, life insurance plan can still provide valuable benefits. When planned early in life retirement plans can be a great boon to retired individuals. It can also be used to leave a financial legacy for your heirs, cover final expenses, or leave a charitable donation.
The coverage amount, or death benefit, depends on various factors such as your financial obligations, income, and long-term goals. A general rule of thumb is to choose a coverage amount that is sufficient to replace your income for a certain number of years and cover significant expenses like debts, education, and healthcare.
Several factors influence the cost of your life insurance premiums, including:
Age:Younger individuals usually pay lower premiums.
Lifestyle Habits:Factors like smoking and excessive drinking can increase premiums.
Coverage Amount:Higher coverage amounts lead to higher premiums.
Type of Policy:Permanent policies tend to have higher premiums than term policies.
Each type of insurance – Life Insurance, General Insurance, and Health Insurance – serves a distinct purpose, addressing specific aspects of your financial and personal security. While life insurance focuses on providing for your family's future, general insurance safeguards your assets, and health insurance ensures your well-being in times of medical need.
| Aspects | Life insurance | General insurance | Health insurance |
|---|---|---|---|
| Purpose | Provides financial protection in case of the policyholder's death. | Covers a wide range of non-life risks, such as property, vehicles, travel, etc. | Offers coverage for medical expenses and healthcare-related costs. |
| Benefit | Pays out a death benefit to beneficiaries upon the policyholder's death. | Offers compensation for damages/losses to insured assets (e.g., property damage, theft). | Covers medical expenses, hospitalization costs, and related healthcare expenditures. |
| Premiums | Generally higher due to longer coverage and potential cash value growth. | Varies based on the insured asset, its value, and the level of coverage. | Premiums are influenced by factors like age, health status, coverage scope, and more. |
| Riders/Add-Ons | Offers riders like critical illness, disability, etc., for added coverage. | Additional coverage options like personal accident, loss of baggage, etc. | Riders for maternity, pre-existing conditions, etc., can be added for specific needs. |
| Payout | Lump sum payout to beneficiaries upon the policyholder's death | Compensation for repair/replacement costs for the insured asset. | Direct payment to healthcare providers or reimbursement for medical expenses. |
| Tax Benefits | Premiums paid and benefits received are often eligible for tax benefits. | Premiums may be tax-deductible in some cases; claim payouts are generally tax-exempt. | Premiums and benefits are often eligible for tax benefits under prevailing laws. |
Buying a life insurance policy online has become an increasingly popular and convenient option for individuals seeking financial security and peace of mind.
Premium rates are a critical factor when considering a life insurance policy. Online platforms often provide competitive premium rates due to reduced overhead costs compared to traditional insurance companies.
Online life insurance platforms provide you with the flexibility to customize your policy according to your unique requirements. You can easily adjust coverage amounts, policy terms, and riders to tailor the policy to your family's specific needs, all with a few clicks.
Gone are the days of scheduling in-person appointments and spending hours discussing options with agents. Buying life insurance plan online empowers you to explore and compare policies at your own pace from the comfort of your home. With our user-friendly website, you can easily browse through a variety of plans, features, and premium options to find the perfect fit for your needs.
Obtaining instant quotes for different life insurance policies is a breeze online. Our platform allows you to see exactly what you will be paying for each policy, enabling you to make informed decisions. The transparent comparison feature lets you weigh the pros and cons of various plans side by side, helping you select the one that aligns with your financial goals.
Say goodbye to stacks of paperwork and lengthy application forms. Buying life insurance online means a seamless, paperless application process. Fill out the necessary details, and upload the required documents, and you are well on your way to securing your family's financial future.
Our online platform is not just a place to buy insurance, it is a hub of valuable information. We provide comprehensive educational resources to help you understand the intricacies of life insurance, from the basics to more advanced concepts. Empower yourself with knowledge before making your decision.
Understanding the potential reasons for claim rejections and taking proactive steps to prevent them is essential to ensure that your loved ones receive the intended benefits during their time of need.
When applying for life insurance, honesty is key. Provide complete and accurate information about your medical history, lifestyle, and any relevant details. Failing to disclose crucial information could lead to claim rejection.
Thoroughly review your policy documents. Familiarize yourself with the coverage, exclusions, and terms of the policy. This will help you avoid situations where a claim might be denied due to misunderstanding the policy details.
Ensure that your premium payments are made on time and in accordance with the policy terms. Missed payments can result in a lapse of coverage, leaving your beneficiaries vulnerable.
Do not provide false information or misrepresent facts during the application process. Any inconsistencies discovered during the claims process could lead to denial.
Regularly review and update your beneficiary information. Life changes such as marriage, divorce, or the birth of a child should be reflected in your policy to prevent confusion during the claims process.
It is essential to be aware of the limitations and exclusions that may apply to different types of life insurance plans. These exclusions are subject to change from policy to policy and insurer to insurer.
Most life insurance policies have a suicide exclusion clause, typically within the first one to two years of the policy's inception. If the policyholder dies by suicide within this period, the policy may not pay out the full death benefit. After the initial exclusion period, the policy will generally cover suicide-related deaths.
Engaging in dangerous hobbies or occupations, such as skydiving, rock climbing, or professional racing, might lead to exclusions. If the insured person passes away while participating in these high-risk activities, the policy may not provide coverage.
Providing inaccurate information or withholding crucial details during the application process can lead to coverage denial. It's vital to be completely transparent about your medical history, lifestyle, and other relevant factors.
If the policyholder's death results from criminal activities or engaging in illegal acts, the policy may not cover the claim.
If the insured person passes away due to a pre-existing medical condition that was not disclosed or accurately represented, the policy may be voided.
If the policyholder's death is a result of drug or alcohol abuse, the policy may not provide coverage.
Whether you are seeking pure protection, savings with insurance coverage, investments with insurance benefits, or secure retirement planning, there's a life insurance plan to suit your needs. Understanding the nuances of each type of plan is vital for making informed decisions that align with your financial aspirations. These inclusions are subject to change from policy to policy and insurer to insurer.
The heart of any life insurance plan is the death benefit, which provides a tax-exempt lump sum payment to your beneficiaries upon your passing. This financial safety net ensures that your loved ones can cover essential expenses, such as mortgage payments, education costs, and daily living expenses, even in your absence.
Many of our life insurance plans include terminal illness cover, offering you peace of mind during challenging times. If you are diagnosed with a terminal illness and have a life expectancy of, for example, 12 months or less, you may have the option to receive a portion of your death benefit early to help alleviate financial burdens.
Life is unpredictable, and accidents can happen. Some of our life insurance plans provide an additional accidental death benefit, which offers an extra layer of protection in case your passing is the result of a covered accident. This supplementary benefit can provide your beneficiaries with an increased payout, helping them manage unexpected expenses.
In the event that you become permanently and totally disabled, some of our life insurance plans offer disability benefits. This feature ensures that if you are unable to work due to a covered disability, you may receive a portion of your death benefit in advance to support your financial needs and ongoing care.
Understand that unforeseen circumstances, such as disability, can impact your ability to pay premiums. Our premium waiver option, available in select plans, ensures that if you become permanently disabled, your policy remains in force, and you will not need to worry about premium payments.
Certain life insurance plans offer cash value accumulation, providing you with the opportunity to build a cash reserve over time. This cash value can be accessed through policy loans or withdrawals, offering a potential source of funds for emergencies, opportunities, or planned expenses.
Customize your life insurance plan further by adding optional riders that suit your specific needs. These riders can include coverage for critical illness, income protection, child education, and more, enhancing your policy's flexibility and ensuring it aligns with your family's evolving requirements.
Applying for a life insurance plan is a straightforward process. To expedite your application and ensure a seamless experience, please prepare the following documents:
| Documents | Details to be provided |
|---|---|
| Application Form | Complete the provided application form accurately and legibly. |
| Proof of Identity | Valid government-issued photo ID, such as a driver's license, passport, or Aadhar card. |
| Proof of Address | Recent utility bills, rental agreement, or other official documents that verify your address. |
| Age Proof | Document that confirms your age, such as a birth certificate or school leaving certificate. |
| Income Proof | Documents that reflect your income, such as salary slips, tax returns, or Form 16. |
| Medical Examination Reports | Depending on the chosen plan and your age, a medical examination may be required. Submit the relevant medical reports, if applicable. |
| Nominee Information | Details of your chosen nominee, including their name, relationship, and contact information. |
Tax Deductions under Section 80C: Our life insurance plans allow you to claim deductions up to ₹1.5 lakhs under Section 80C of the Income Tax Act, 1961. This means a significant reduction in your taxable income, ensuring that you keep more of your money in your pocket.
The proceeds from a life insurance policy are typically tax- exempt under Section 10(10D) of the Income Tax Act. This ensures that your family receives the sum assured without any tax liability in case of an unfortunate event.
Some of our plans offer market-linked returns, allowing you to grow your wealth over time potentially. The gains made from these plans can also be tax-exempt, making them an attractive investment option.
Enhance your coverage with optional riders like critical illness and disability benefits. These riders can also come with additional tax benefits, allowing you to enjoy extra deductions on your premiums.
Life is unpredictable, and we believe your life insurance payment options should reflect that. We offer a variety of payment methods to ensure you have the flexibility and convenience you deserve:
Spread the cost of your life insurance over manageable monthly payments. This option allows you to budget effectively without compromising on coverage.
Pay your life insurance premiums every three months. This option provides a balance between more frequent payments and the convenience of a lump-sum payment.
Choose to pay your premiums twice a year. This option offers a longer payment interval, reducing the frequency of transactions while ensuring your coverage remains intact.
Make a single payment for the entire year. This option simplifies your financial planning and guarantees uninterrupted coverage for the entire policy term.
Selecting the right payment option for your life insurance policy is crucial. Consider factors such as your financial situation, budget, and payment preferences. Our experienced insurance advisors are here to guide you through the decision-making process, ensuring you make the choice that best aligns with your needs.
When the time comes to file a life insurance claim, we strive to make the process as simple as possible for your family. Our dedicated claims team is here to guide you through each step, ensuring that you have the necessary information and assistance.
To initiate the claim process, your family will need to submit the required documents, including the death certificate and policy information. Our online portal makes it convenient to submit documents from the comfort of your home.
Our expert claims team will carefully review the submitted documents to ensure everything is in order.
Once the documentation is verified and the claim is approved, your family will be notified promptly. We understand the urgency of this process and strive to expedite it to provide financial support when it's needed most.
Explore the in-depth resources on each life insurance plan to delve deeper into their features and benefits. Secure your future today by selecting the life insurance plan that suits your needs best.
Without a comprehensive understanding of how life insurance functions, individuals often find themselves unsure when it comes to selecting the most suitable policy. Therefore, acquiring an in-depth knowledge of the various types of life insurance products is vital before making a decision.
A life insurance policy that suits your peers might not necessarily align with your own needs. Hence, it is important to assess your specific financial considerations, whether they pertain to affordability, preferred coverage amount, or optional add-ons, before embarking on a comparison of different plans.
Given the extensive array of life insurance plans accessible, it is imperative to ensure that you opt for the right one that offers ample benefits. To accomplish this, it is essential to diligently compare plans across various criteria, such as premiums, coverage amounts, and potential investment components.
Navigating the realm of life insurance involves familiarizing yourself with terms such as "premiums," "beneficiary," "policyholder," "death benefit," "cash value," and much more. Each term plays a unique role in shaping the terms and conditions of your life insurance policy.
The amount you pay at regular intervals (monthly, annually) to maintain your life insurance coverage.
The sum of money your beneficiaries receive upon your passing.
The individual who owns the life insurance policy and pays the premiums.
The person(s) or entity designated to receive the death benefit.
The duration of coverage provided by a policy. Term life insurance plan offers coverage for a specific period, while permanent life insurance provides lifelong protection.
A feature of permanent life insurance where a portion of your premium accumulates as an investment that you can access during your lifetime.
While life insurance plans can provide financial security and support to your loved ones in case of your unexpected demise. It ensures that your family has a safety net to cover expenses and debts.
For a life insurance policy, you pay regular, limited, single premium, and in return, the insurance company provides a payout, known as the death benefit, along with maturity benefits (depending upon the type of life insurance policy), to your beneficiaries upon your passing. This payout can help your family manage financial obligations.
Life insurance policy can be bought by anyone from the age of 25-45 and beyond. The aim is to provide financial protection to your family in case of uncertainty.
The ideal life cover varies depending on your individual circumstances, such as your financial obligations, debts, income, and the needs of your dependents. It's advisable to assess your current and future financial needs to determine an appropriate coverage amount. Use the online calculator to find out how much you need to put in your insurance premium.
The ideal age to buy life insurance is often when you are younger and healthier, as premiums tend to be lower. However, it's never too late to get coverage. Your life stage, financial situation, and dependents play a role in determining the right time for you.
Life insurance premiums can be paid on a regular basis (monthly, quarterly, half yearly, annually) through various methods such as electronic transfers, checks, or online payments, depending on the insurer's options. Visithttps://www.kotaklife.com/how-do-i/pay-my-premiumfor premium payments.
If you cancel your life insurance policy, you may lose the coverage and any benefits associated with it. Depending on the policy type, you might receive a surrender value or a portion of the premiums paid, but this varies by policy and insurer.
A nominee is the person who will receive the life insurance payout upon your demise. You can choose a family member, spouse, or anyone with an insurable interest. Ensure the nominee's details are correctly mentioned in the policy to avoid complications.
Yes, in most cases, you can change the beneficiary or nominee of your life insurance policy. Visithttps://www.kotaklife.com/how-do-i/manage-my-policyfor changing nominee or for more information. If you face any issues, contact your nearest branch.
After your passing, your beneficiaries need to file a claim with the insurance company. They will need to provide necessary documents, such as a death certificate and policy details. Once verified, the company will disburse the death benefit to your beneficiaries. Visithttps://customer.kotaklifeinsurance.com/ocmfor further details.
Life insurance provides financial protection to your loved ones in the event of your death. It can help cover funeral expenses, outstanding debts, and mortgage payments and provide ongoing financial support to your family members.
Life insurance may offer tax benefits Under section 80C & 10(10D). It's important to consult a tax professional to understand the specific tax implications in your situation.
Terms and Conditions for Savings Plans
You may avail of tax benefits as per Income Tax Act, 1961, Tax benefits are subject to change as per tax laws. Customer is advised to take an independent view from tax consultant. Goods and Services Tax and Cess as applicable shall be levied over and above premium amount as per applicable tax laws.
@Guaranteed benefits due under this plan are available provided premiums are paid regularly for the entire premium payment term and the policy is in force. *Please note that Bonuses are NOT guaranteed and may be as declared by the Company from time to time. Benefits under this plan are dependent upon the performance of the participating Funds.
Kotak Guaranteed Fortune Builder,UIN: 107N128V05 Form No: N128. An Individual, Non-Linked, Non-Participating, Savings, Life Insurance Plan. This is a saving and protection oriented plan. For substandard lives, extra premium may be charged based on Kotak Life Insurance’s underwriting policy. This product is available for sale through online mode. 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. 2The above illustration is for Male aged 18 years, Premium: Rs. 10,000 per month, Premium Payment Term: 10 years, Deferment Period: 5 years, Policy Term: 15 years, Income Benefit Period: 15 years & Income Benefit Frequency: monthly. Plan option opted is Long Term Income – Income only option for online channel. The income benefits will be Rs. 17,948 per month for 15 years after 15th year of policy term. The premium figures are exclusive of Goods and Services Tax and Cess, as applicable. Goods and Services Tax and Cess thereon, shall be charged as per the prevalent tax laws over and above the said premiums. @Guaranteed benefits due under this plan are available provided premiums are paid regularly for the entire premium payment term and the policy is in force
1The above illustration is for an 18-year-old healthy male, non-smoker who is willing to invest Rs. 10,000 per month and will pay for 10 years for this policy; where the policy term is 20 years, the basic sum assured is ₹20,89,466 and guaranteed maturity benefit is ₹27,21,849. The premium is assuming the policy is bought Online. The above premium figures are exclusive of Goods and Services Tax and Cess. Goods and Services Tax and Cess thereon shall be charged as per the prevalent tax laws over and above the said premiums.
Kotak Assured Savings PlanUIN: 107N081V06, Form No: N081. Kotak Term Benefit Rider UIN:107B003V03, Form No.: B003, Kotak Accidental Death Benefit Rider UIN: 107B001V03, FormNo.: B001, Kotak Permanent Disability Benefit Rider UIN: 107B002V03, Form No.: B002, Kotak Life Guardian Benefit Rider UIN: 107B012V02, Form No.: B012, Kotak Accidental DisabilityGuardian Benefit Rider UIN: 107B011V02, Form No.: B011, Kotak Critical Illness Plus Benefit Rider UIN:107B020V01, Form No.: B020. This is a savings-cum-protection oriented non-participating endowment assurance plan. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale. For details on riders, please refer to the Rider Brochure
~The above illustration is for an 18-year-old healthy male, non-smoker who is willing to invest Rs. 10,000 per month and will pay for 10 years for this policy; where the policy term is 20 years, the basic sum assured is Rs. 17,42,559 and guaranteed maturity benefit is Rs. 27,16,071 . The premium is assuming the policy is bought Online. The above premium figures are exclusive of Goods and Services Tax and Cess. Goods and Services Tax and Cess thereon shall be charged as per the prevalent tax laws over and above the said premiums.
Kotak Fortune MaximiserUIN: 107N125V02, Form No: N125. Kotak Term Benefit Rider, UIN: 107B003V03, Form No: B003; Kotak Accidental Death Benefit Rider, UIN: 107B001V03, Form No: B001; Kotak Permanent Disability Benefit Rider, UIN: 107B002V03, Form No: B002; Kotak Life Guardian Benefit, UIN: 107B012V02, Form No: B012; Kotak Accidental Disability Guardian Benefit, UIN: 107B011V02, Form No: B011, Kotak Critical Illness Plus Benefit Rider - 107B020V01, Form No.: B020. 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 SmartLife PlanUIN: 107N102V03, Form No: N102. This is a Savings-cum-Protection oriented Participating Endowment plan. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale. Benefits under this plan are dependent upon the performance of the participating Funds.
Kotak Premier Income PlanUIN: 107N099V02, Form No: N099. This is a participating anticipated endowment plan. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale. Benefits under this plan are dependent upon the performance of the participating Funds.
Kotak Get Assured Income NowUIN: 107N141V01, Form No: N141, Kotak Term Benefit Rider, UIN: 107B003V03, Form No: B003; Kotak Accidental Death Benefit Rider, UIN: 107B001V03, Form No: B001; Kotak Permanent Disability Benefit Rider, UIN: 107B002V03, Form No: B002; Kotak Life Guardian Benefit, UIN: 107B012V02, Form No: B012; Kotak Accidental Disability Guardian Benefit, UIN: 107B011V02, Form No: B011, Kotak Critical Illness Plus Benefit Rider - 107B020V01, Form No.: B020. This is a savings-cum-protection oriented participating endowment 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. Benefits under this plan are dependent upon the performance of the participating Funds.
Terms and Conditions for Term Plan
Kotak e-TermUIN:107N129V02, Form No: N104, Kotak Permanent Disability Benefit Rider UIN: 107B002V03, Form No: B002, Kotak Critical Illness Plus Benefit Rider UIN: 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.
^The above illustration is for an 18-year-old healthy male, non-smoker who has opted for the Life Option with a 40-year policy term with regular premium payment option, Level Recurring Payout Option and Sum Assured on Death of Rs.1 Crore. The per day premium is Rs.17 [Rs. 6,100 Annualized Premium / 365 days = Rs. 16.71]. The premium is assuming the policy is bought Online and the customer has not purchased any policy from Kotak Life Insurance. The above premium figures are exclusive of Goods and Services Tax and Cess. Goods and Services Tax and Cess thereon shall be charged as per the prevalent tax laws over and above the said premiums. Annualized Premium is the premium payable in a policy year, excluding the underwriting extra premiums, loadings for modal premium, Goods and Services Tax and Cess, as applicable and Rider Premium, if any.
Kotak Gen2Gen ProtectUIN: 107N132V01, Form No: N132, Kotak Permanent Disability Benefit Rider - UIN: 107B002V03, Form No.: B002, Kotak Critical Illness Plus Benefit Rider - 107B020V01, Form No.: B020, Kotak Accidental Death Benefit Rider - UIN: 107B001V03, Form No: B001. This is a Non-Linked Non-Participating Individual Savings Life Insurance Plan. For sub-standard lives, extra premium may be charged based on Kotak Mahindra Life Insurance Company’s underwriting policy. 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.
+The above premium figures are exclusive of Goods & Services Tax & Cess. Goods and Services Tax & Cess thereon, shall be charged as per the tax laws over and above the said premium. Plan Option – Life ROP. ROP – Return of Premiums. Life Insured Age: 30 years, Policy Term: To Age 65 (35 years), Premium Payment Term (PPT): 10 years, Sum Assured: 1 Crore, Monthly Premium: 3,362. ROP at Primary Life Insured Age 65: ₹4,03,440. The monthly premium is ₹3,362 (annual premium ₹38,200 * 8.8%). The premium is assuming the policy is bought Online and the customer has not purchased any policy from Kotak Life Insurance.
**Data as on May 2024
#Tax laws are subject to amendments from time to time. The customer is advised to take an independent view from a tax consultant. Tax benefits are subject to conditions specified under Section 80C and Section 80D of the Income-tax Act, 1961. The tax benefit is applicable as per the Income Tax Act, of 1961
Terms and Conditions for ULIP Plans
You may avail of tax benefits under Section 80C and Section 10(10D) of 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.
Risk Factors:
The Unit Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender /withdraw the monies invested in Unit Linked Insurance Products completely or partially till the end of the fifth year from inception.
Kotak e-InvestUIN - 107L121V01, Form No. - L121. Kotak Accidental Death Benefit Rider (Linked) UIN - 107A017V01 Form No: A017, Kotak Permanent Disability Benefit Rider (Linked) UIN -107A018V01 Form No: A018. This is an individual Unit-linked Non-Participating Endowment Life Insurance 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.
3The illustration is for an 18 year old healthy male with base premium is Rs. 1 lakh p.a. and Sum Assured as Rs. 10 Lakhs, premium payment term / policy term: 20/20 years, with investment strategy as aggressive under age based strategy. The above figures are net of Goods and Services Tax and Cess, as applicable. Goods and Services Tax and Cess are subject to change from time to time as per the prevailing tax laws. #The values are based on assumed investment rate of return of 4% p.a. & 8% p.a. The values shown are not guaranteed and they are not upper and lower limit of what you might get back as the value of your policy is dependent on a number of factors including future investment performance. The actual experience may be different from the illustrated.
Kotak T.U.L.I.PUIN No.: 107L131V02 Form No.: L131, Kotak Accidental Death Protection Rider (Linked) UIN No.:107A021V01, Form No.: A021. Kotak Critical Illness Benefit Rider (Linked)UIN No.:107A022V01 Form No.: A22. This is a non-participating unit linked endowment plan. This product is available for sale through online mode. 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.
4The illustration is for an 18 year old healthy male with base premium is Rs. 1 lakh p.a. and Sum Assured as Rs. 50 lakhs, premium payment term / policy term: 30/10 years, Rider premiums are Rs. 2,440 for Accidental Death Benefit of Rs. 20L and Rs. 1,605 for Critical Illness Cover of Rs. 5L with investment strategy as moderate under age based strategy. The above figures are net of Goods and Services Tax and Cess, as applicable. Goods and Services Tax and Cess are subject to change from time to time as per the prevailing tax laws. #The values are based on assumed investment rate of return of 4% p.a. & 8% p.a. The values shown are not guaranteed and they are not upper and lower limit of what you might get back as the value of your policy is dependent on a number of factors including future investment performance. The actual experience may be different from the illustrated.
Kotak Invest MaximaUIN No.: 107L073V05, Form No: L073. This is an individual, unit linked non-par life insurance plan. This website content is not a brochure and only gives the salient features of the plan. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.
Kotak Single Invest AdvantageUIN No.: 107L065V05, Form No.: L065. This is a unit linked non-participating endowment plan. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.
Kotak PlatinumUIN No.: 107L067V07, Form No.: L067. Kotak Accidental Death Benefit Rider (Linked) UIN No.: 107A017V01 Form No.: A017. Kotak Permanent Disability Benefit Rider (Linked) UIN No.: 107A018V01 Form No.: A018. This is an individual, Unit-linked, Non-par, Endowment Life Insurance Plan. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. For details on riders please read rider brochure.
Kotak Ace InvestmentUIN No.: 107L064V06, Form No.: L064. Kotak Accidental Death Benefit Rider (Linked) UIN No.: 107A017V01 Form No.: A017. Kotak Permanent Disability Benefit Rider (Linked) UIN No.: 107A018V01 Form No.: A018. This is a unit linked non-participating endowment 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 Wealth Optima PlanUIN: 107L118V03, Form No: L118, Kotak Accidental Death Benefit Rider (Linked) UIN – 107A017V01 Form No: A017, Kotak Permanent Disability Benefit Rider (Linked) UIN – 107A018V01 Form No: A018. This is a unit linked non-participating endowment 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.
Terms and Conditions for Retirement Plans
You may avail of tax benefits under Section 80C and Section 10(10D) of 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 Lifetime Income PlanUIN: 107N103V15, Form No: N103 This is a non-participating immediate annuity plan. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale.
7The above illustration is for an 45-year-old healthy male who is willing to invest Rs. 10 Lakh in Lifetime Income with Cash Back. The premium is assuming the policy is bought Online. The above premium figures are exclusive of Goods and Services Tax and Cess. Goods and Services Tax and Cess thereon shall be charged as per the prevalent tax laws over and above the said premiums.
Kotak Assured PensionUIN: 107N123V08, Form No: N123. This is a non-linked, non-participating annuity plan. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.
6The above illustration is for an 45-year-old healthy male who is willing to invest Rs. 5 Lakhs in Deferred Income with Cash-Back and will pay for 10 years with deferment period of 10 years for this policy. The premium is assuming the policy is bought Online. The above premium figures are exclusive of Goods and Services Tax and Cess. Goods and Services Tax and Cess thereon shall be charged as per the prevalent tax laws over and above the said premiums.
Annuity rates applicable as on the date of policy issuance will be provided to the customer. Once a policy is issued, the rates will be guaranteed for life. Please check for the latest rates at the time of purchase in force.
Terms and Conditions for Health Plans
Section 41-
Extract of Section 41 of the Insurance Act, 1938 as amended from time to time states: 0. No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer. 1. Any person making default in complying with the provisions of this section shall be liable for a penalty which may extend to ten lakhs rupees.
Section 45-
Fraud and Misstatement would be dealt with in accordance with provisions of Section 45 of the Insurance Act, 1938 as amended from time to time. Please visit our website for more details:
https://www.kotaklife.com/assets/images/uploads/why_kotak/section-38-39-45-of-insurance-act-1938.pdf
Claim Settlement*disclaimer:
Tax Benefits
You may avail of tax benefits as per the Income Tax Act, 1961 subject to conditions as specified in those sections. Tax benefits are subject to change as per tax laws. You are advised to consult your Tax Advisor for details. Goods and Services Tax and Cess, as applicable shall be levied over and above premium amount shown here as per applicable tax laws.
Regd. Office:
8th Floor, Plot # C- 12, G- Block, BKC, Bandra (E), Mumbai – 400051 Toll Free: 1800 209 8800 Website: www.kotaklife.com | WhatsApp: 9321003007 |ARN No.: KLI/24-25/Comp/E-WEB/82.
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS
IRDAI or its officials do not involve in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
Trade Logo displayed above belongs to Kotak Mahindra Bank Limited and is used by Kotak Mahindra Life Insurance Company Ltd. under license.