Terms and Conditions for Term Plan
Kotak e-Term UIN:107N129V03, Kotak Critical Illness Plus Benefit Rider UIN: 107B020V02, Kotak Permanent Disability Benefit Rider UIN: 107B002V03.
**Free Medical Checkup every 5th year starting from 5th policy year onwards
^The above illustration is for a 18-year-old healthy male, non-smoker who has opted for the Life Option with a 40-year policy term with regular premium payment mode, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The per month premium is ₹475 [₹5,400 Annualized Premium x 8.8% = ₹475.2] and per day premium is ₹15 [₹5,400 Annualized Premium / 365 days = ₹14.79]. 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. Annualized Premium is the premium payable in a policy year, excluding the underwriting extra premiums, loadings for modal premium, as applicable and Rider Premium, if any.
YYou have the option to exit the policy at age 60 years. The plan also offers a Special Exit Value if you decide to terminate the policy after a specified period.
You can get your premiums back through special exit value, you have one year time period to avail this option commencing from, if your policy term is:
40 years: Earlier of 25th policy year OR during the policy year, when you attain 60 years
More than 40 years: Earlier of 30th policy year OR during the policy year, when you attain 60 years
Kotak Signature Term Plan UIN:107N139V01.Kotak Permanent Disability Benefit Rider - UIN: 107B002V03, Kotak Critical Illness Plus Benefit Rider - UIN: 107B020V02, Kotak Accidental Death Benefit Rider – UIN: 107B001V04. This is a Non-Participating Non-Linked Life Insurance Individual Pure Risk Product. 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 Gen2Gen Protect UIN:107N132V02, Kotak Permanent Disability Benefit Rider - UIN: 107B002V03, Kotak Critical Illness Plus Benefit Rider – UIN: 107B020V02, Kotak Accidental Death Benefit Rider - UIN: 107B001V04
βRiders are not mandatory and can be attached to the base plan at inception or at any policy anniversary of the base plan for additional cost. 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: 3,529. ROP at Primary Life Insured Age 65: ₹4,23,480. The monthly premium is ₹3,529 (annual premium ₹40,100 * 8.8%). The premium is assuming the policy is bought Online and the customer has not purchased any policy from Kotak Life Insurance.
Kotak Term Plan UIN:107N005V06, Kotak Accidental Death Benefit Rider UIN: 107B001V04, Kotak Permanent Disability Benefit Rider UIN: 107B002V03, Kotak Critical Illness Plus Benefit Rider UIN: 107B020V02. This is a non-participating non-linked life insurance individual pure risk product. 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.
βRiders are not mandatory and can be attached to the base plan at inception or at any policy anniversary of the base plan for additional cost. For more details on riders please read the Rider Brochure.
Kotak Value Protect UIN:107N140V01, Kotak Permanent Disability Benefit Rider UIN: 107B002V03, Kotak Critical Illness Plus Benefit Rider UIN: 107B020V02, Kotak Accidental Death Benefit Rider UIN: 107B001V04. This is a non-participating non-linked life insurance individual pure risk product. 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 Signature Legacy UIN:107N135V02, Kotak Permanent Disability Benefit Rider - UIN: 107B002V03, Kotak Accidental Disability Guardian Benefit Rider - UIN: 107B002V03. This is a non-participating non-linked life insurance individual pure risk / savings product. Life insurance coverage is available in this product. 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.
Kotak Vital Care - UIN:107N143V01. This is a non-participating, non-linked life insurance individual pure risk product. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale.
107N120V01. This is a Non-Participating Non-Linked Life Insurance Individual Pure Risk Product. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale.
ZUKHLIP24026V022324 is a Combi Product with both protection & health benefits. It is a jointly offered product of Kotak Mahindra Life Insurance Company Limited and Zurich Kotak General Insurance Company (India) Limited, where protection benefits are being offered by Kotak Mahindra Life Insurance Company Ltd. under Kotak Term Plan - UIN 107N005V06, Form No. N005 and health benefits are being offered by Zurich Kotak General Insurance Company (India) Limited under Health Premier – UIN ZUKHLIP23109V052223; The risks of this product are distinct and are accepted by respective companies. Please refer to the Policy Document for specific details on all terms, conditions and exclusions.
Terms and Conditions for Savings Plans
@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.
* 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. The risk factors of the bonuses projected under the product are not guaranteed. Past performance doesn’t construe any indication of future bonuses. These products are subject to the overall performance of the insurer in terms of investments, management of expenses, mortality and lapses.
Kotak Assured Savings Plan UIN:107N081V09. Kotak Term Benefit Rider UIN: 107B003V03 Kotak Accidental Death Benefit Rider UIN: 107B001V04, Kotak Permanent Disability Benefit Rider UIN: 107B002V03, Kotak Life Guardian Benefit Rider UIN: 107B012V02, Kotak Accidental Disability Guardian Benefit Rider UIN: 107B011V02, Kotak Critical Illness Plus Benefit Rider UIN: 107B020V02. This is a non-participating non-linked life insurance individual savings product. This is a saving cum protection oriented plan. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale.
~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 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 Guaranteed Fortune Builder UIN:107N128V09. Kotak Term Benefit Rider, UIN: 107B003V03, Kotak Accidental Death Benefit Rider, UIN: 107B001V04, Kotak Permanent Disability Benefit Rider, UIN: 107B002V03, Kotak Life Guardian Benefit Rider, UIN: 107B012V02, Kotak Accidental Disability Guardian Benefit Rider, UIN: 107B011V02, Kotak Critical Illness Plus Benefit Rider UIN: 107B020V02. A Non-Participating Non-Linked Life Insurance Individual Savings Product. This is a saving and protection oriented 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.
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 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.
Kotak Fortune Maximiser UIN:107N125V03, Kotak Term Benefit Rider, UIN: 107B003V03,Kotak Accidental Death Benefit Rider, UIN: 107B001V04, Kotak Permanent Disability Benefit Rider, UIN: 107B002V03 Kotak Life Guardian Benefit Rider, UIN: 107B012V02, Kotak Accidental Disability Guardian Benefit Rider, UIN: 107B011V02, Kotak Critical Illness Plus Benefit Rider - 107B020V02. This is Participating Non-Linked Life Insurance Individual Savings Product. 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 Early Defined Guaranteed Earnings (EDGE) UIN:107N164V02. Kotak Term Benefit Rider UIN: 107B003V03, Kotak Accidental Death Benefit Rider UIN: 107B001V04, Kotak Permanent Disability Benefit Rider UIN: 107B002V03, Kotak Life Guardian Benefit Rider UIN: 107B012V02, Kotak Accidental Disability Guardian Benefit Rider UIN: 107B011V02, Kotak Critical Illness Plus Benefit Rider UIN: 107B020V02. This is a non-participating non-linked life insurance individual savings product. This is a saving cum protection oriented 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 Get Assured Income Now UIN:107N141V02, Kotak Term Benefit Rider, UIN: 107B003V03, Kotak Accidental Death Benefit Rider, UIN: 107B001V04, Kotak Permanent Disability Benefit Rider, UIN: 107B002V03, Kotak Life Guardian Benefit Rider, UIN: 107B012V02, Kotak Accidental Disability Guardian Benefit Rider, UIN: 107B011V02, Kotak Critical Illness Plus Benefit Rider - 107B020V02. This is a Participating Non-Linked Life Insurance Individual Savings Product. 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 Guaranteed Savings Plan UIN:107N100V05. Kotak Term Benefit Rider, UIN: 107B003V03, Kotak Accidental Death Benefit Rider, UIN: 107B001V04, Kotak Permanent Disability Benefit Rider, UIN: 107B002V03, Kotak Life Guardian Benefit Rider, UIN: 107B012V02, Kotak Accidental Disability Guardian Benefit Rider, UIN: 107B011V02. This is a non-participating non-linked life insurance individual savings product. This is a saving and protection oriented plan. For more details on risk factors, please read sales brochure carefully before concluding a sale. For more details on riders please read the Rider Brochure.
Kotak SmartLife Plan UIN:107N102V04. Kotak Term Benefit Rider, UIN: 107B003V03, Kotak Accidental Death Benefit Rider, UIN: 107B001V04, Kotak Permanent Disability Benefit Rider, UIN: 107B002V03, Kotak Life Guardian Benefit Rider, UIN: 107B012V02, Kotak Accidental Disability Guardian Benefit Rider, UIN: 107B011V02, Kotak Critical Illness Plus Benefit Rider - 107B020V02. This is A Participating Non-Linked Life Insurance Individual Savings Product. 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 Sampoorn Bima Micro-Insurance Plan UIN:107N092V03. This is a non-participating non-linked life insurance individual savings product. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.
Kotak Classic Endowment Plan UIN:107N082V03, Kotak Term Benefit Rider UIN:- 107B003V03, Kotak Accidental Death Benefit Rider UIN:- 107B001V04, Kotak Permanent Disability Benefit Rider UIN:- 107B002V03, Kotak Critical Illness Plus Benefit Rider UIN:-107B020V02, Kotak Life Guardian Benefit Rider UIN:- 107B012V02, Kotak Accidental Disability Guardian Benefit Rider UIN:- 107B011V02. This is a Participating Non-Linked Life Insurance Individual Savings Product. For more details on risk factors, terms & conditions please read the sales brochure carefully before concluding the sale. For more details on riders, please read the Rider Brochure.
107N163V01. Kotak Term Benefit Rider UIN: 107B003V03; Kotak Accidental Death Benefit Rider UIN: 107B001V04; Kotak Permanent Disability Benefit Rider UIN: 107B002V03; Kotak Life Guardian Benefit Rider UIN: 107B012V02; Kotak Accidental Disability Guardian Benefit Rider UIN: 107B011V02; Kotak Critical Illness Plus Benefit Rider UIN: 107B020V02.
This is a Participating Non-Linked Life Insurance Individual Savings Product. 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 Life Guardian Benefit Rider is not available for Legacy Income & Legacy Paid-Up Additions Options. The product may be available for sale through Online platform as well.
Terms and Conditions for ULIP Plans
The linked Insurance products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender or withdraw the monies invested in Linked Insurance Products completely or partially till the end of fifth years.
- 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.
- Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors.
- The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions.
- Kotak Mahindra Life Insurance Company Ltd. is only the name of the Insurance Company and Kotak e-Invest Plus, Kotak T.U.L.I.P, Kotak T-ULIP Nxt, Kotak Invest Maxima, Kotak Single Invest Advantage, Kotak Platinum, Kotak Wealth Optima Plan are only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns.
- The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns.
- The past performance of other Funds of the Company is not necessarily indicative of the future performance of the funds
- Please know the associated risks and the applicable charges (along with the possibility of increase in charges), from your Insurance Agent or Corporate Agent / Insurance Broker or policy document of the insurer
- All benefits payable under the Policy are subject to the Tax Laws and other financial enactments, as they exist from time to time.
Kotak e-Invest Plus; UIN107L137V02. This is a non-participating unit-linked life insurance individual savings product. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale.
*The assumed non-guaranteed rates of return chosen in the illustration are 4% p.a. and 8% p.a. These assumed rates of return are not guaranteed and they are not the upper or lower limits 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. Above below is an illustration of the benefits payable 35 years old male for a policy term of 20 years and premium payment term of 20 years with the monthly premium of ₹10,000 and a Sum Assured of ₹12,00,000. He has selected Maximizer Option and Age Based Investment Strategy with Aggressive Option. 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. This is for online channel.
Kotak T.U.L.I.P UIN:107L131V03. Kotak Accidental Death Protection Rider (Linked) UIN:107A021V02; Kotak Critical Illness Benefit Rider (Linked) UIN: 107A022V02. This is a non-participating unit-linked life insurance individual savings product. 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. 10,000 p.m. and Sum Assured as Rs. 50 lakhs, premium payment term / policy term: 30/10 years, Rider premiums are Rs. 258 p.m. for Kotak Accidental Death Protection Rider of Rs. 24L and Rs. 163 p.m. for Kotak Critical Illness Benefit Rider 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. This is for online channel.
Kotak T-ULIP Nxt, UIN.:107L138V01, Kotak Accidental Death Protection Rider (Linked) UIN.: 107A021V02, Kotak Critical Illness Benefit Rider (Linked) UIN.: 107A022V02. This is a non-participating unit-linked life insurance individual savings product. 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 Invest Maxima UIN: 107L073V05. Kotak Accidental Death Protection Rider (Linked) UIN: 107A021V02, Kotak Critical Illness Benefit Rider (Linked) UIN: 107A022V02. This is a non-participating unit-linked life insurance individual savings product. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale. For more details on riders please read the Rider Brochure.
Kotak Single Invest Advantage UIN: 107L065V05.This is a Non-Participating Unit-Linked Life Insurance Individual Savings Product. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.
Kotak Platinum UIN: 107L067V07. Kotak Accidental Death Protection Rider (Linked) UIN: 107A021V02, Kotak Critical Illness Benefit Rider (Linked) UIN: 107A022V02. This is A Non-Participating Unit-Linked Life Insurance Individual Savings Product. 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 Plan UIN: 107L118V03. Kotak Accidental Death Protection Rider (Linked) UIN: 107A021V02, Kotak Critical Illness Benefit Rider (Linked) UIN: 107A022V02. This is a non-participating unit-linked life insurance individual savings product. 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
Kotak Assured Pension - UIN: 107N123V13, This is a non-participating, non-linked, general annuity product. 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 p.a. 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.
Kotak Confident Retirement Builder; UIN: 107L136V02. This is a non-participating unit-linked pension individual savings product. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. This product is available for sale through online mode.
Kotak Lifetime Income Plan UIN: 107N103V20. This is a non-participating, non-linked, general annuity product. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.
Kotak Confident Retirement Savings Plan UIN: 107N162V01. This is a participating non-linked pension individual savings plan. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale.
This website content is not a brochure and only gives the salient features of the plan.
Section 41
Extract of Section 41 of the Insurance Act, 1938 as amended from time to time states:
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.
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, Misstatement and Forfeiture 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
## Payout on Claim Intimation
In case of death of the Life Insured after completion of three (3) consecutive Policy years, from the Date of Commencement of Risk or the date of Revival of the Policy; and subject to the Policy being in force, the Insurer shall endeavor to pay an amount of ₹2,00,000 in advance (out of the Death Benefit payable) to the Claimant within two (2) working days from the claim registration date (subject to submission of all required mandatory supporting documents as specified above). Thereafter, the remaining balance amount of the Death Benefit shall be payable to the Claimant once the Death Benefit claim is found admissible by the Insurer as per the terms and conditions mentioned in this Policy document.
Claim Settlement* disclaimer:
Figures arrived are basis the company's latest annual audited figures for Individual policy Claims for FY 2025-26
*//www.kotak.bank.in/content/dam/Kotak/investor-relation/Financial-Result/QuarterlyReport/FY-2026/q4/investor-presentation/Q4FY26-Investor-Presentation.pdf
@@ Benefit:
You may avail of tax benefits as per the Income Tax Act, 2025 subject to conditions as specified under Section 123 read with Schedule XV; Section 11 read with Schedule II(2); Section 126 and Section 202 and other applicable provisions of the Income Tax Act, 2025. 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 the premium amount shown here as per applicable tax laws.
+GST is exempted for all individual life insurance policies effective from 22nd September 2025.
Website: www.kotaklife.com | WhatsApp: 9321003007 | ARN No.:KLI/26-27/E-WEB/802
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 Limited under license.
