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Kotak e-Term

Protect your family's financial future.

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Insurance and Investment in one plan.

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A plan that offers immediate or deferred stream of income

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Term Insurance

Up to 13%▪ off on Premiums

Save tax up to ₹54,600 u/s 80C & 80D@

Up to 13% off on Premiums

Save tax up to ₹54,600+ u/s 80C & 80D

Get ₹1 Crore Life Cover Starting at just ₹475/month0

  • *Get Premiums back
  • 0% GST+

*Get Premiums back | 0% GST+

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Term insurance provides life cover for a fixed duration, known as the policy term, in exchange for a premium. If the insured passes away during this term, the nominee receives a lump-sum ... death benefit. This amount ensures your family can manage essential expenses like daily household costs, children’s education, repay loans and medical bills, without financial stress. Term plans are affordable, straightforward, and designed to secure your dependents’ future. Explore Kotak Life’s term insurance plans, key features of term insurance, how does the term insurance work, how can you choose the best plan for your family and more.

25years

98.61%

Claim Settlement Ratio#

2.45%

Solvency Ratio

as on Dec’25$

1-Day

Claim Settlement!!

37

Critical Illnesses Coveredβ

25+

Years of Protecting Lives

See How Much You Can Save

  • Young Professional
  • New Parents
  • Home Loan Holder
  • Self-Employed
  • Working Women

For Young Professional

₹1 Crore coverage

Monthly Premium start with

₹475/month or just ₹15/day1

Key Highlights:

  • Free Medical Check Up every 5th year**
  • Save Tax up to ₹54,600/year u/s 80C & 80D@
  • Save 13%▪ on Premiums
Secure This Plan

What You Get:

Life Coverage

₹1 Crore protection for your loved ones

Special Exit option at age 60*

Get 100% premiums back

Multiple Plan option

Customize protection with optional riders

Secure This Plan

*Premium shown is for illustration purposes. Actual premium may vary based on medical history and other factors.

₹1 Crore coverage

Monthly Premium start with

₹678/month or just ₹21/day£

Key Highlights:

  • Get 7.5%” Online Discount
  • Zero GST
  • Save Tax up to ₹54,600/year@ u/s 80C & 80D
Secure This Plan

What You Get:

Life Coverage

Affordable Life Cover for your Family

Save up to 62%++ on Premiums

Choose 5 year limited pay option

Claim Settlement

98.61% settlement ratio!

Secure This Plan

*Premium shown is for illustration purposes. Actual premium may vary based on medical history and other factors.

₹1 Crore coverage

Monthly Premium start with

₹678/month or just ₹21/dayπ

Key Highlights:

  • Special Rates for Non-Tobacco Users
  • Special Exit Benefit
  • Save Tax up to ₹54,600/year u/s 80C & 80D@
Secure This Plan

What You Get:

Life Coverage

Secure your family’s future

1-day Claim Settlement!

Get instant peace of mind

3 Payout Options

Select option based on family’s requirement

Secure This Plan

*Premium shown is for illustration purposes. Actual premium may vary based on medical history and other factors.

₹2 Crore Coverage

Monthly Premium start with

₹1,144/month" or just ₹36/dayα

Key Highlights:

  • Get 62%++ off with 5 yrs Limited Pay Option
  • Save Tax up to ₹54,600/year u/s 80C & 80D@
  • Save 13%▪ on Premiums
Secure This Plan

What You Get:

MWPA Benefit

Provision for wife’s financial security

Instant Payout

On claim intimation of ₹2 Lakhs

Special Exit Benefit

Avail at age 60

Secure This Plan

*Premium shown is for illustration purposes. Actual premium may vary based on medical history and other factors.

₹2 Crore coverage

Monthly Premium start with

₹915/month or just ₹28/day£

Key Highlights:

  • Inbuilt Health & Wellbeing Benefits
  • Zero GST
  • Save Tax up to ₹54,600/year u/s 80C & 80D@
Secure This Plan

What You Get:

Life Coverage

High Insurance Cover at economical price

Special Female Discount

16% discount for Salaried Women

₹2L Instant Payout^^

Avail claim within 2 working days

Secure This Plan

*Premium shown is for illustration purposes. Actual premium may vary based on medical history and other factors.

What is Term Insurance and How does it work?

Term insurance is an agreement between you and the insurer to provide life cover for a fixed period in exchange for the premium.

Here is how it works- You choose the coverage and term, pay regular premiums, and if the insured passes away during this term, the nominee receives a lump-sum death benefit. This payment is what keeps your family financially stable at difficult times.

Amar

Meet Amar, 30 year-old working professional with the objective: to protect his family’s financial future

30

Yrs

Amar chooses Kotak e-Term of Life Cover ₹1 Crore with 30-year policy term

Amar makes regular premium payment

35

Yrs

Free Medical Check-up after 5 years

60

Yrs

If Amar Chooses to exit around age 60 the insurer returns the total premiums paid

74

Yrs

After his unfortunate death, the Life Cover is payable to the nominee

Amar's family gets

₹1 Crore
  • Accidental Death Benefit
  • Critical Illness Rider
  • Waiver of Premium
img
Check How Much Cover You Need

Nominee assistance call: 1800 209 8800/ WhatsApp: 9321003007

Meet Amar, 30-year-old working professional with the objective: to protect his family’s financial future

Amar's family gets

₹1 Crore
  • Accidental Death Benefit
  • Critical Illness Rider
  • Waiver of Premium

Nominee assistance call: 1800 209 8800/ WhatsApp: 9321003007

Check How Much Cover You Need

Online Insurance Plans from Kotak Life Insurance

Kotak Signature Term Plan
  • High Insurance Cover at economical price
  • Special Discount for Female Life
  • Instant Payout on claim intimation of ₹2 Lakh##
  • Longer Life Coverage up to Age 85 Years
  • Inbuilt Health & Wellbeing Benefits
  • Additional Discount for Salaried Customers
Avail benefits
 Trending
Kotak e-Term
  • Life Cover till 85 years for Life & Life Secure Option
  • 3 Payout Options
  • Special Rates for Women
  • Option to exit the policy with a premium refund at the age of 60*
  • Special Rates for Non-Tobacco Users
  • Free Medical Check Up every 5th year**
Get covered
 Trusted Plan
Kotak Gen2Gen Protect
  • 100% Return of Premium on survival
  • Life ROP and Legacy ROP plan options
  • Cover 2 generations under 1 plan
  • An additional 5% life cover for female lives
  • Enhanced Protection with optional riders
  • Tax Benefits u/s 80C and 10(10D)@
Secure my family
 Best for Families

Offline Insurance Plans from Kotak Life Insurance

  • Kotak Term Plan
  • Kotak Saral Jeevan Bima
  • Kotak Health Maximiser
  • Kotak Value Protect
  • Kotak Signature Legacy

Kotak Term Plan

  • Life cover to protect your family’s future even if you are not around
  • Plan conversion option
  • Option to pay Single or Regular Premium
  • Customize Protection with Optional Riders
    • Know more

Kotak Saral Jeevan Bima

  • Long Term Coverage
  • Special Rates for Women
  • Tax Benefits@
  • Multiple Premium Payment Modes
    • Know more

Kotak Health Maximiser

  • Provides Life cover along with Health Cover
  • Hassle-Free Issuance with Minimal Documentation
  • Tax Benefits under Sec 80C and 80D@
  • Cashless Transactions in over 9500+ Network Hospitals
  • Flexibility to choose your policy and premium payment terms
  • Preferred premium rates for female lives
  • Lifelong coverage irrespective of any claims under the policy
    • Know more

Kotak Value Protect

  • Protection made simpler and quicker for you.
  • Life Coverage up to ₹50L Sum Assured
  • Preferential rates for Female Life
  • Inbuilt Wellbeing Benefits & Value Added Services
    • Know more

Kotak Signature Legacy

  • Increasing Life Cover up to age 99
  • Two Plan Options Legacy and Legacy Plus
  • Insta Payout on Claim Intimation
  • Free Medical check-ups and Wellness Benefits
  • 10% first year premium discount for women
    • Know more

Offline Insurance Plans from Kotak Life Insurance

Kotak Term Plan
  • Life cover to protect your family’s future even if you are not around
  • Plan conversion option
  • Option to pay Single or Regular Premium
  • Customize Protection with optional Riders
    • Know more
Kotak Saral Jeevan Bima
  • Long Term Coverage
  • Special Rates for Women
  • Tax Benefits@
  • Multiple Premium Payment Modes
    • Know more
Kotak Health Maximiser
  • Provides Life cover along with Health Cover
  • Hassle-Free Issuance with Minimal Documentation
  • Tax Benefits under Sec 80C and 80D@
  • Cashless Transactions in over 9500+ Network Hospitals
  • Flexibility to choose your policy and premium payment terms
  • Preferred premium rates for female lives
  • Lifelong coverage irrespective of any claims under the policy
    • Know more
Kotak Value Protect
  • Protection made simpler and quicker for you.
  • Life Coverage up to ₹50L Sum Assured
  • Preferential rates for Female Life
  • Inbuilt Wellbeing Benefits & Value Added Services
    • Know more
Kotak Signature Legacy
  • Increasing Life Cover up to age 99
  • Two Plan Options Legacy and Legacy Plus
  • Insta Payout on Claim Intimation
  • Free Medical check-ups and Wellness Benefits
  • 10% first year premium discount for women
    • Know more

Term Insurance Frequently Asked Questions

  • Claim Process & Settlement
  • Policy Basics
  • Premiums & Payments
  • Riders & Add-Ons
  • Customization & Eligibility
1.

Can a term insurance claim be rejected? What are the common reasons?

Yes, a term insurance claim can be rejected. The most frequent reason is non-disclosure. This refers to concealing or misleading information concerning health, habits such as smoking, or other insurance cover. Another obvious reason is an inactive policy due to the non-payment of the premiums.

2.

Can I register a claim online for my term insurance?

Yes, we do offer an online portal for claim intimation. The nominee may fill out the digital form and send the required documents to initiate the claim process easily online.

3.

How long does it take to settle a term insurance claim?

The official regulation from IRDAI is that insurers must settle a claim within 30 days. This clock starts after they have received all the necessary documents. If a case needs a deeper investigation, the process can extend up to 90 days.

4.

What documents are required for a term insurance claim?

You will be required to do basic paperwork to get started. Here are some standard documents required:

  • The duly filled-in claim form.
  • The original policy document.
  • The death certificate issued by a competent authority.
  • The claimant's (nominee's) ID and address proof.
  • Bank account details of the claimant (cancelled cheque or passbook copy).
  • Medical records or hospital reports, if applicable.
  • FIR and post-mortem report, in case of accidental death.
5.

What is the process for filing a term insurance claim?

There are four major stages of the process. To begin with, the applicant should give notice to the company regarding the demise of the policyholder. This intimation can be done online, through email, or by visiting the branch office. Second, the claim form is submitted along with all the necessary documents. Third, the insurance company verifies the submitted documents. Lastly, once verified, the claim is approved, and the insurer transfers money into the bank account of the nominee.

6.

What is the time limit to file a claim under a term insurance policy?

There is no specific time limit to file a claim. Nevertheless, it is strongly advisable to initiate the claim to the insurer as early as possible in order to achieve a hassle-free and fast settlement.

7.

Is there any waiting period before a claim can be made?

Generally, death due to natural causes or accidents will not have a waiting period in a term insurance policy; coverage starts from day one. However, there is a waiting period for death by suicide, which is normally not covered during the first year of the policy.

8.

Can I file a claim if the policyholder passes away during the waiting period?

This depends on how the death occurred. In case the death is caused by natural causes or an accident, then the claim can be paid to the policyholder. The claim will, however, be declined in case death occurs by suicide within the initial 12 months and 80% of the premium paid is refunded to the nominee.

9.

Can the claim be processed if the life insured’s cause of death was suicide?

Yes, the claim made for death due to suicide is usually paid out, provided the death occurred after 12 months from the inception or the revival of the policy. In case of suicide occurring during the first year, the claim is rejected, and the insurer usually returns a fraction of the premium that has been paid.

10.

What happens if the claim is denied? Can I appeal the decision?

Yes, it is possible to appeal in case your claim is refused. In the first place, the grievance redressal unit of the insurance service should be addressed. You can always upscale it to the Insurance Ombudsman or a consumer court in case of dissatisfaction in regard to their action.

11.

Do I need to provide medical documents when filing a claim?

Yes, while claiming, it is often required to provide medical documents. The reports, which would help the insurer establish the cause of death and ultimately file a claim faster, are the certificate of the doctor, hospitalization documents, discharge summary, and diagnostic reports.

1.

How many years do you need to pay for term insurance?

It depends on the payment option that you choose. You can opt to "pay regularly" throughout the policy term, or "pay for a limited period" (like 10 or 15 years), which coverage continues for the full term, or even "pay once at the start" with a single premium. Your coverage can last up to the age limit offered by your insurer (ideally 75 to 85 years), even if you stop paying earlier under limited pay.

2.

What is the tenure of a term insurance policy?

The most simple definition of tenure is the number of years that the term insurance covers you. It may be between 10 years to 40 years. To finalise a duration that works for you, assess your needs and goals. For example, most individuals buy coverage that expires when they retire or when their children grow and can support themselves.

3.

What happens to the term insurance policy if the life insured dies?

If the life insured passes away during the policy term, the insurance company pays the full death benefit to the designated nominee.

4.

What happens to my term plan coverage when the policy term ends?

When the policy term ends, your life cover stops and the policy terminates. There is no payout unless the plan offers a specific maturity or return of premium benefit. Plans with Return of Premium (ROP) will pay back the eligible premiums as per the product terms.

5.

What happens if the life insured survives the policy term?

For a pure term plan, there is no payout if you survive the policy. If you outlive the plan, there is no maturity payout. The only exception is if you have chosen a “return of premium” plan, where the premiums you paid are refunded.

6.

Will I get any maturity benefit/survival benefit at the end of my policy term?

No. A standard pure-term plan has no maturity benefits. The death benefit is its only function. With a return of premium feature, however, you get your paid premiums back once the term ends.

7.

What if the nominee, who has been appointed, dies while holding the policy?

If your nominee passes away, you must update the policy immediately. This simple action prevents legal complications and ensures the death benefit goes to the correct person without delay.

8.

What are the steps involved in filing a term insurance claim?

After the policyholder dies, the nominee is required to notify the insurer. They need to submit the documents, such as a death certificate, and a claim form. Insurer reviews documents, conducts final assessment, processes payment.

9.

Can I change my nominee after buying term insurance?

Yes, insurers allow nominee updates anytime. Submit a written request or form and make sure the updated details are officially recorded. Disputes and delays during claim settlement get avoided this way.

10.

Does a term insurance plan pay out for death by suicide in India?

Yes, plans in India cover death by suicide after a certain waiting period. If death occurs after the first 12 months, the claim is typically paid. You should always check your policy for the specific clause.

11.

How to process the term insurance claims?

The nominee starts the process by notifying the insurance company. They must provide the required claim form and all supporting documents. The insurer verifies the details and releases the claim amount to the nominee's account.

12.

Which insurance plan is more beneficial, term insurance or traditional life insurance?

The choice depends on your financial objective. The best term insurance offers the highest death benefit for the lowest cost, making it pure family protection. Traditional life insurance combines protection with savings, but the coverage is much lower for a higher premium.

1.

How can the premium of term insurance be estimated?

Your premium is a direct calculation based on your age, the coverage amount, policy length, and your health. Insurers offer online calculators that provide a quick and accurate estimate.

2.

How to pay term insurance premiums online?

You can use any standard online payment method. Net banking, debit and credit cards, and UPI are all accepted directly on the insurer's website or mobile app.

3.

What are the payment options in a term insurance plan?

Payment options are flexibile. You have options to pay your premiums annually, semi-annually, quarterly, or monthly.

4.

Who decides the premium for term insurance?

The insurance company sets the final premium. It is a precise calculation of your risk based on factors like age, medical history, and lifestyle.

5.

Should you opt for limited pay or a regular pay-term insurance plan?

This is a strategic choice based on your financial situation. Limited pay plans have higher premiums but are finished in a shorter period. Regular pay term insurance plans spread smaller premium payments over the entire policy term.

6.

How can I avail tax benefits@ on a term plan?

Premiums qualify for tax deductions under Section 80C and 80D. Furthermore, payout that your family receives is tax-free under Section 10(10D). You should consult a tax advisor for personalized guidance though.

7.

What happens if I miss paying premiums during the policy term?

If you miss your premium payments, your policy lapses and coverage ends. A grace period of 15-days grace period in monthly mode and 30 days from the due date for payment of premium for the yearly, half-yearly and quarterly mode exists for payment. During this period the policy will be considered to be in-force with risk cover as per the terms of the policy. You can reinstate the lapsed policy but it requires paying all overdue premiums.

1.

What is a critical illness rider?

A critical illness rider is a vital policy add-on. It pays you a large, tax-free cash sum if you are diagnosed with a major illness like cancer or suffer a heart attack.

2.

Should I opt for riders with term insurance?

Riders are optional but provide essential protection. For example, a critical illness rider or accidental death rider can provide you extra financial support during difficult situations at additional cost.

3.

What is the premium for riders?

The premium for a rider is calculated separately. It depends on the type of rider, the amount of coverage it provides, your age, and the policy term. The insurer provides an exact quote for any rider you add.

4.

What are the benefits of purchasing a rider?

A rider is built to handle specific risks like a critical illness or a major accident. This adds another layer of financial defense and makes your coverage much more powerful.

5.

Is it necessary to buy a rider with term insurance?

No, buying a rider is not a requirement. It is an optional enhancement to your basic policy. Riders are add-ons that you can choose to include for extra coverage based on your personal needs and risk assessment at additional cost.

6.

Can I include accidental death coverage in my term insurance policy?

Yes. Most insurers offer an accidental death benefit rider. You can easily add this to your term insurance policy. This rider provides a significant additional payout to your family if your death is the result of an accident.

7.

Does term insurance cover critical illnesses?

A standard term plan does not cover critical illnesses. You must add a specific critical illness rider. This add-on provides a lump sum cash payment if you are diagnosed with a covered illness during the policy term.

8.

Is disability covered under term insurance?

Disability is not automatically covered when you get a normal term insurance plan. To get this protection, you need to add a disability rider. This ensures your financial protection and provides you the necessary support if an accident leaves you permanently or partially disabled and affects your ability to earn.

1.

Can I change the sum assured during the policy term?

Yes, many policies allow you to change the sum assured. An increase in coverage will also mean a higher premium. Certain term plans also let you reduce the sum assured if your financial needs decrease later on.

2.

Can I cancel my term insurance policy?

Yes, you can cancel your term insurance policy. But, in a regular term plan, you will not get back your premiums after cancellation. The only exception is if you have a "return of premium" plan, where the premiums may get refunded at maturity. It is always best to check with your insurer for the exact cancellation process.

3.

Is there a term plan for smokers?

Yes, smokers can buy term plans. Insurers have specific policies for smokers, but the premiums will be higher. The rate is higher because smoking is a major health risk.

4.

Can I buy term insurance if I have a pre-existing medical condition?

You can buy term insurance if you have a pre-exiting condition. But you need to declare your medical condition on the application. The insurer reviews your file, sets a premium. Concealing health conditions invalidates the policy, thereby, you should not do it.

5.

Can I cancel my term insurance policy and get a refund?

You can cancel your policy when you want. A refund is only paid out during the policy's free-look period, a 30-day window right after you buy. After that short period, no money is returned.

6.

Can I change the beneficiary or nominee after purchasing the policy?

Yes. The nominee on your policy can be changed. This is a standard right you have for the entire policy term. You simply submit the correct form to the insurer. This action directs the payout to the person you choose and no one else.

7.

How can I revive a lapsed term insurance policy?

A lapsed policy is not gone forever. Insurers provide a revival window for five years. To bring the policy back, you pay all the missed premiums and any penalty fees. The insurer will likely require a new medical checkup before coverage is restored.

8.

Is it possible to increase the sum assured during the policy term?

Some policies have a special feature to increase cover when your life changes, like marriage or a new child, without a new medical test. If your policy does not include this specific benefit, your only option for more protection is to purchase an entirely new policy.

9.

Is there an option to convert my term insurance into a whole life insurance policy?

You can only convert your policy if it was sold with a specific convertibility option. This built-in feature is your ticket to switch to a whole life plan without another medical exam. The only place to confirm you have this option is in your original policy contract.

10.

What are the eligibility criteria for purchasing a term insurance policy?

The term insurance eligibility requirements are clear. An applicant needs to be between 18 and 65 and prove they have a steady income. A medical examination is not optional; it is a required step that confirms you are insurable and locks in your final premium.

11.

What happens if I don't pay my premiums on time?

When you miss a premium, you get a 15-day grace period in monthly mode and 30-day grace period from the due date for payment of premium for the yearly, half-yearly and quarterly mode exists for payment. If you do not pay within that month, your policy lapses. This means all your coverage ends immediately and the death benefit for your nominee is gone. You can still revive your lapsed policy within five years from the first unpaid premium.

How does a kotak term insurance plan work?

Take these 5 essential steps to protect your family with Kotak Life Insurance term plans.

1

Choose Your Life Cover and by What Age You Want a Full Protection

Start by choosing an amount that covers your family's financial responsibilities.

2

Affordable Premiums, Pay Regularly

Starting at just Rs15/day^ with suitable paying options like monthly, quarterly, or half-yearly, whichever works best for your financial needs.

3

Rest Easy with Continuous Protection During Your Policy Period

Your family is protected with your term insurance till the policy period

4

In Case of a Mishap, Get the Claim Instantly

Access your benefits easily with minimal paperwork and our expert team support.

5

Final Step, Your Family Gets the Claim

Get the claim amount – options – lump sum/ monthly payout or combination of both.

Get Protected Today

Get Instant Coverage in Minutes

Why is Term Insurance Important?

The importance of a term insurance plan lies in its ability to provide a substantial financial safety net for your dependents in your absence. This protection plan acts as a replacement for your income, ensuring that your family can maintain their lifestyle, meet their financial goals, and clear any outstanding debts without compromise.

Here are Some of the Financial Realities if You Do Not Have a Term Insurance Plan

The absence of a term insurance plan can leave your family vulnerable to severe financial distress. Without this protective shield, your dependents would have to rely solely on their existing savings and assets, which may be insufficient to cover long-term needs. This could force them to liquidate valuable assets, disrupt their long-term financial goals, and potentially face a drastic and immediate decline in their standard of living.

Without Term Life Insurance, Your Family Could Face


Immediate Loss of Income

Their primary source of household income would vanish, making it difficult to cover daily expenses.

Pressure to Repay Debts

Any outstanding liabilities, such as a home loan or car loan, would become their responsibility to repay.

Compromised Future Goals

Long-term goals like a child's higher education or marriage could be jeopardized due to a lack of funds.

Financial Instability

The overall financial stability of the family would be at high risk, potentially forcing them into a cycle of debt.

The Mathematical Logic: The Simplified Calculation of Term Insurance

The amount of term insurance you need is not a random figure; it is based on a concept called Human Life Value (HLV). A simplified way to calculate this is to estimate the total future income you would have earned until retirement.

For example, a healthy, 30-year-old non-smoker wants to secure his family's future with a ₹1 crore term insurance policy for a 30-year term (covering him until age 60).

Now, for a total investment of just ₹2,70,000, spread conveniently over three decades, he is guaranteeing a tax-free payout of ₹1 crore to his family in his absence. This means the financial protection offered is more than 37 times the total premium paid. In this way, a term plan helps secure the financial stability of your family in your absence.

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Customise Your Plan

How to Buy a Term Insurance Plan?

The process to buy term insurance is straightforward. A death benefit is paid to your nominees if you pass away during the policy term. This payment is what keeps your family financially stable. An income replacement term plan works by providing steady financial support for their ongoing expenses, even when you are no longer there. Let us see how term insurance works:

1. Policy Agreement

Your journey starts with a formal agreement between you and the insurance provider. This contract is the foundation of your protection. In exchange for your commitment to pay regular premiums, you receive financial coverage for a fixed term. Your term life policy will name you as the ‘life assured’ and state the insurer’s promise to pay a defined sum to your nominee should you pass away during the policy period.

2. Submitting the Proposal Form

The proposal form is a vital document where you list essential personal and financial information. You will be asked for your age, income, lifestyle habits, occupation, and medical history. The insurer uses this to make their decision. Being accurate and honest here is extremely important. It makes the underwriting process smooth and lowers the risk of any future claim rejection.

3. Assessing Your Coverage Needs

The right plan starts by adding up your family's real-world costs. Look at everything from loan payments and school fees to daily living expenses. This review is how you settle on the right coverage amount, policy length, and premium schedule. It is also the time to consider optional riders for extra protection. For instance, if you have significant long-term obligations, a ₹1.5 crore term plan could provide the security your family needs.

4. Premium Payment and Policy Activation

Once the insurer approves your application, they calculate your premium. Your coverage is not active until you make the first payment. That first payment is the trigger. You can choose a payment schedule that fits your budget with monthly, quarterly, half yearly or yearly options. This control makes managing the premiums straightforward and eliminates financial strain.

5. Nominee Assignment

Your nominee is the person who receives the entire payout, no questions asked. This makes the choice of a trustworthy beneficiary incredibly important. You must keep their official details updated after major life events. A marriage or divorce requires an immediate update. This guarantees a fast and smooth money transfer when your family needs it most.

Kotak e-Term vs. Traditional Insurance

Parameters parameters Kotak e-Term Traditional Plans
Plan Options 3 Plan Options Majorly 1 or 2 plan options
Affordability Premiums start at just ₹15/day^ Differs from ₹20-25/day
Cost Savings Up to 62%++ with 5-Year Limited Pay Option on total premium Variable as per term
Discounts Online discounts of up to 7.5%" Online discounts from 5-8%
Option to Exit the Plan Yes Allowed

++The savings percentage is arrived by assuming the given scenario: 18-year-old healthy, salaried, non-smoker male opts for Life Option, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The annualized premium for a 67-year policy term with regular premium payment mode is ₹7,700, i.e., total premium paid is 7,700 X 67 = 5,15,900. The annualized premium for 5 years limited premium paying terms for the same scenario is ₹38,600, i.e. total premium paid is 38,600 X 5 = 1,93,000. Hence, the percentage savings is 62.59% [(i.e. 5,15,900 – 1,93,000) / 5,15,900].


Choose your Plan

Why Should You Buy a Term Insurance Plan in 2026?

A term insurance plan is a non-negotiable part of financial planning. It delivers security and peace of mind when your family’s future is on the line. These are the core reasons why you should buy Kotak e term plan:

To Protect Your Family’s Financial Future

Your income supports your family's daily life and their biggest goals. In the absence of that income, a term plan can provide the ultimate protection. It delivers a great payout designed to cover every essential cost like household bills and school fees, ensuring their life continues without any financial shock or disruption to their plans.

To Secure Your Assets from Financial Liabilities

Your debts should not become your family's legacy. Liabilities like a home loan, car loan, or education expenses can become an impossible burden for your family to manage. A term life insurance plan delivers a lump sum payment that is more than capable of clearing these debts, which ensures the assets you acquired are not sold off.

To Reduce Lifestyle and Health Risks

Modern life comes with health risks that can create immediate and severe financial pressure. The financial support from a term plan is a direct countermeasure. Following a critical illness diagnosis, it provides a crucial lump sum of capital. This funding handles the crisis directly, protecting your family's long-term goals and keeping their savings intact.

To Be Financially Prepared for Life’s Uncertainties

The world is not predictable and COVID-19 pandemic proved that financial preparedness is not optional. A contingency plan like COVID-19 term insurance becomes absolutely essential in these moments. It provides the immediate cash your family needs to overcome any major crisis so that they can manage without financial stress or selling any assets.

Uncertainty Arising Due to Lifestyle Diseases

Lifestyle diseases bring with them the risk of sudden, unplanned medical bills that can destabilize a family's finances. A strong term plan is the financial reinforcement you need in your absence. It provides the critical funds to manage these medical costs, ensuring your family maintains complete financial stability through any health challenge.

Customizable Coverage with Optional Riders

A standard term plan is just the start. Real protection is customized protection. You build a superior safety net by adding specific riders to your plan. Including coverage for critical illness, accidental death, or a waiver of premium creates enhanced, multi-layered protection from a single, efficient policy.

To Avail Tax Benefits@

A term plan is a smart financial move. You get significant term insurance tax benefits. Your premium payments directly qualify for valuable deductions under Section 80C and 80D of the Income Tax Act, 1961. Furthermore, the death benefit payout your family receives is almost always tax-free under Section 10(10D).

Why Does Term Insurance Premium Increase with Age?

Age is the single biggest factor that determines your term insurance premium. As you get older, the price for a new policy will increase. Buying the policy when you are young and healthy locks in the lowest possible rate for the entire term. For example, if you buy term insurance for father later in life, the cost is higher. Securing low rates early is the foundation of smart financial protection.

How Health Risks Impact Term Insurance Premiums

Your premium will account for any pre-existing health conditions like hypertension or diabetes. Even with these conditions, you can still find the right coverage. Specialized plans like term insurance for heart patients are designed for these situations. Buying your policy early is the best way to lock in favorable pricing.

The Role of Mortality Risk in Premium Calculation

Insurers use mortality risk statistics to help set life insurance premiums. Your age is a direct factor in this calculation. This is a standard, data-driven method used across the industry to determine the premium you will pay for your coverage. The higher the age, the higher the associated risk, and the higher the premium.

How Waiting Can Cost You More: A Case for Early Investment

Delaying your term insurance purchase will lead to higher premiums over time. Every year you wait, the rate for a new policy increases. By investing in a policy early, you get the benefit of lower rates and can secure extended protection for your family when it is most needed.


The Earlier You Buy, The Less Premiums You Pay

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How Much Term Cover do I Need?

Figuring out the right amount of term coverage is a critical step. The goal is to choose a sum large enough to completely protect your family from financial hardship. Choosing the right sum to protect your family is not guesswork. There are established formulas to pinpoint the exact amount.

Simple Guideline

A straightforward method is to buy enough coverage to eliminate every single debt. This includes your mortgage, car loans, and any outstanding credit card balances. On top of that, add a significant buffer to cover your family’s living expenses for several years. This is a solid foundation for your term plan.

Human Life Value

This is a more precise calculation of your economic value to your family. The calculation inputs your age, income, and any current insurance to produce a hard number. An online HLV calculator will generate the personalized figure you need for the right term coverage.

D.I.M.E

The D.I.M.E. formula is a comprehensive way to calculate your exact needs. It stands for Debt, Income, Mortgage, and Education. Total up all debts, the full mortgage balance, and the future cost of education for your children. Then, add the annual income you need to replace, multiplied by the number of years your family needs support. This formula will help you get a good enough idea about how much term cover you need.

Income Replacement

This approach calculates the exact financial support your family would need. Start with your in-hand annual income. From that, you must subtract all your personal expenses, including costs for commuting, work lunches, and personal purchases. The number you are left with is the actual income your family lives on. Multiply this amount by the number of years remaining until your retirement to find your target sum assured.

10-15X Annual Income

The 10-15X rule is a foundational benchmark for calculating your term insurance needs. Take your annual income and multiply it by 15. This gives you a clear target for your sum assured. It is a proven, non-negotiable starting point for complete financial security.

How to Calculate My Term Insurance Premium?

Calculating your term insurance premium is a crucial first step in finding a plan that fits your budget while providing adequate financial protection for your family.

While the precise calculations are performed by the insurer's underwriting team, you can get an instant and accurate estimate using an online term insurance calculator. It is important to calculate term insurance premiums before buying term insurance.

Here are the primary factors that influence your term insurance premium:

Your Age:

This is one of the most critical factors. The younger and healthier you are when you purchase the policy, the lower your premium will be.

Sum Assured: 

This is the total amount that will be paid to your nominee in your absence. A higher sum assured means a higher level of protection, which naturally corresponds to a higher premium.

Policy Term:

This refers to the duration for which you want the life cover to be active (e.g., 20, 30, or 40 years). A longer policy term generally means a slightly higher premium.

Health and Lifestyle Habits:

Your personal habits significantly impact the premium.

Optional Riders: 

If you choose to enhance your base policy with optional add-ons (riders) like critical illness cover, accidental death benefit, or waiver of premium, the cost of each rider will be added to your base premium.

Benefits of Buying Term Insurance Plans

Kotak Life offers a range of term insurance benefits built to secure your finances and protect your family. The coverage is powerful, and the features are adaptable. These plans are your shield against financial uncertainty.

Affordable Premiums for Greater Value

Term insurance delivers massive coverage for a low premium. The younger you are when you buy, the lower your premium will be. That low rate is locked in for the entire policy, giving you decades of affordable protection.

Life Cover with Guaranteed∞ Payouts

The payout from a term plan is a guarantee. When the life insured passes away, the nominee receives the full sum assured. This payment gives your family immediate financial certainty to manage all essential expenses without stress.

Flexible Sum Assured Payout Options

The death benefit can be paid as a single lump sum, a regular monthly income, or a combination of both. This gives your family the right kind of financial support when they need it the most.

Return of Premium Benefit

Some term plans offer a return of premium features. This option refunds every premium you paid if you outlive the policy term. You get the full security of a life insurance policy, but with a savings component that ensures your investment is not lost.

Flexibility

You have complete flexibility over the policy term and the coverage amount. You can choose a small ₹5 lakh term insurance or ₹10 lakh term insurance for basic needs. For total protection against all of life's major expenses, you can secure a ₹1.5 crore term insurance or a ₹3 crore term insurance policy.

Future Planning

A term plan is a tool for your financial future. It creates an income stream for your family, pays off estate taxes, and clears large debts. A powerful term life insurance plan, like a ₹2 crore term insurance policy, is the bedrock of your family's future security. For lifelong coverage, whole life insurance is the better choice.

Comprehensive Critical Illness Coverage

Adding critical illness riders enhances your protection. These add-ons deliver a large, lump sum payment upon diagnosis of a major illness like cancer or a heart attack. That money pays for hospital bills and keeps your family's savings safe.

Disability Support and Benefits

An accident can cause a lifelong disability and destroy your income. Disability insurance riders are your financial safety net. If you are unable to work, the rider pays out, covering your daily needs and medical care. It protects your family from financial collapse.

Financial Security in Case of Unfortunate Events

The core function of term insurance is to provide a massive lump sum payment if the insured person passes away. This money is a financial shield that empowers your family to maintain their living standard, eliminate all debts, and secure their future.

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How Does a Term Plan Secure My Family’s Future?

A term insurance plan is a versatile financial tool for providing comprehensive support to your family. This flexibility helps address a wide range of financial obligations, keeping your long-term plans for your family’s security on track.

Education Expenses

A term plan can function as a dedicated fund to secure your children’s educational future. The payout helps cover rising tuition costs for school and university. Their academic goals can be achieved without the family having to take on significant debt.

Funeral and Final Expenses

The immediate costs associated with a funeral and other final arrangements can be substantial. The death benefit provides the necessary liquidity. Your family can manage these expenses with dignity and without the stress of using their savings.

Business Continuity

For business owners, a term plan is a key component of a sound succession strategy. The payout injects vital capital into the business to cover operational costs and settle outstanding debts. This ensures a stable and orderly transition, protecting the enterprise you built.

Estate Planning

The death benefit plays a significant role in effective estate planning. It provides the funds to settle all estate-related taxes and legal fees. Your assets are then transferred to your heirs intact, without your family being forced to sell property to cover these costs.

Debt Repayment

Most families carry long-term liabilities, such as a home loan or car loan. The term plan’s payout is designed to eliminate these outstanding debts, immediately relieving your family of that financial burden and securing their ownership of those assets.

Income Replacement

A primary function of a term insurance plan is to replace the future income you would have earned. The payout becomes a steady source of funds. It helps your family maintain their standard of living, cover daily expenses, and continue pursuing their long-term financial goals.

Death Benefits

The tax-free death benefit is the central pillar of a term plan. It is the lump-sum payment that empowers your family to address all of these financial challenges. This capital is the resource that funds their education, clears debts, and provides for their daily needs, ensuring their complete financial security.

Features of Term Insurance Plan

A term insurance policy comes with important features that provide affordable and reliable financial protection for you and your loved ones.

Multiple Payment Modes

While the low premiums make these plans lucrative, different payment methods add to the benefits and suit a wider range of policy buyers. You may pay the premiums yearly, half-yearly, quarterly, or monthly, depending upon your convenience, and even as a single premium term insurance.

Policy Terms and Premiums

Since term insurance policy premiums usually do not have any investment components, the premium you pay for buying a term policy is normally less, unlike other life insurance products. Again, when one purchases a term plan while young, it usually results in cheaper premiums.

Protection from Liability

Term insurance offers massive coverage against liabilities such as home loans, personal loans, and other debts. In the case of the untimely demise of the policyholder, this death benefit shall be used to help pay pending debts and, hence, save the surviving family members from the financial burden.

Save Tax U/S 80C & 80D Income Tax Act, 1961@

Other than Section 80C, the premium paid for any rider that covers health-related expenses, such as critical illness riders, is allowed as a deduction under Section 80D. This provides additional tax savings and makes a term insurance investment tax-efficient.

High Maturity Age

Most of the term insurance plans extend coverage up to a considerably high maturity age of 75 or even 100 years. This ensures long-term financial protection, peace of mind, and financial security for your loved ones, irrespective of when the event of death may occur.

Critical Illness Cover

These plans provide a term policy that offers a lump sum payout on the occurrence of any of the critical illnesses specified in the policy document. Such a payout can be availed to compensate for loss of income, medical expenses, and other financial expenses throughout the recovery period.

Return of Premium on Maturity

A term plan with return of premium feature pays back all the premiums if the policyholder survives the policy term. This provides a financial cushion and a certain savings element that was lacking in pure protection given by term insurance.

Accidental Death and Disability Cover

Accidental death and disability cover riders provide extra benefits in the event of death or disability due to an accident. The income benefit on accidental disability rider provides an additional payout, while an accidental disability rider allows one to seek financial support in cases of permanent or temporary disability through the coverage of treatment expenses and loss of income.

Types of Term Insurance Plans


Term insurance plans vary in terms of suitability to different needs and life events, and range from an initial basic cover to an expanded cover customized with riders. Understanding the difference between various types of insurance plans, such as joint vs individual term insurance plans, can help you make an informed decision.

Level Premium Term Insurance Plan

With a level premium term plan, both the death benefit (sum assured) and the premium you pay are locked in and remain constant for the entire policy duration. This means the premium you are quoted at the start of the level term insurance will not increase as you get older or if your health changes.

Year Renewable Term Insurance

This type of term plan provides coverage for a one-year period at a time. At the end of the year, you have the option to renew the policy for another year, usually without needing a new medical exam.

Increasing Term Insurance Plan

An increasing term plan is a type of dynamic policy, where the sum assured amount grows progressively over the years. The death benefit can have an upper cap on the sum assured's growing amount. This policy, just like the basic term policy, does not give any maturity benefits but does have life coverage.

Decreasing Term Insurance Plan

In decreasing term policies, the death benefit amount goes on declining gradually as the policy term is about to end. Such policies usually have affordable premiums because their core purpose is to cover some specific debt or loans.

Term Policy with Return of Premium (TROP)

In a TROP plan, you can get back all the premiums paid throughout the policy term after the plan expires. All the premiums are returned to you under this arrangement. TROP plans also provide a maturity benefit, apart from life coverage being provided if you survive the policy term.

Term Insurance with Critical Illness Cover

Term insurance can be coupled with critical illness cover, where the policyholder or the beneficiary can receive a lump sum upon a diagnosis of a critical illness like cancer, heart attack, or stroke. This may assist in the expensive medical treatment of acute diseases.

Term Insurance with Accidental Death Cover

This kind of term insurance comes with an accidental death rider, which means that the policyholder gets an extra payment if they die in an accident. The accidental death benefit is usually in addition to the basic sum assured, which means that it gives the policyholder's family extra financial protection in case of an accidental death.

Convertible Term Insurance Plan

A convertible term plan gives you the flexibility to switch to a permanent life insurance plan (like whole life or endowment) during the policy term. This conversion typically requires no additional medical exams, making it ideal if your financial responsibilities or protection needs evolve over time.

Joint Life Term Insurance

Two people, usually spouses or partners, are covered by a single joint life plan. The death benefit is usually paid out when the first policyholder dies, but some plans keep covering the survivor. It offers an affordable way to make sure that shared financial responsibilities are safe in case of an unexpected loss.

Kotak Life Claim Settlement Ratio

Assuming you pay for a term insurance policy, it is worthwhile to choose the services of an insurer with a good track record of making claim settlements. Claim Settlement Ratio (CSR) is one of the key indicators that demonstrate how an insurer has made efforts to keep its commitment to its policyholders and their families. Kotak Life Insurance has also managed to have an impressive claim settlement track record, offering reassurance that your loved ones’ claims will be processed smoothly during difficult times.


According to the IRDAI Annual report 2024, Kotak Life Insurance Company has an individual Death Claim Settlement Ratio of 98.61 %# and a group claim settlement ratio of 99.63%#. The following is a glimpse into the claim settlement efficiency of Kotak Life Insurance in the previous couple of years.

Year Claim Settlement Ratio
2024-2025 98.61%
2023-2024 98.29%
2022-2023 98.25%
2021-2022 98.82%
2020-2021 98.50%
2019-2020 96.20%
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Things That Influence Term Insurance Premium at Kotak Life

There are an array of factors that can influence the premium of term insurance plans, thereby, it is important to understand the term insurance terminology:

Age

The younger one purchases the term policy, the less they have to pay in premiums. The younger individuals are considered healthier and have, in addition, a longer life expectancy; hence, they are less risky to insure.

Lifestyle Choices

Your premiums can be increased due to certain habits, such as smoking or drinking in excess. These lifestyle habits increase the risk to health and thus the insurance companies raise the premiums to deal with the expenses of possible claims.

Sum Assured

Sum assured is the coverage you are provided at the time of your untimely death. To the extent that you opt to increase the coverage amount, the premium you will pay is escalated.

Occupation

Occupation matters while determining your premium. Hazardous employment in construction, mining, or aviation attract premium surcharges. This adjustment in pricing is due to higher mortality exposure in the workplace.

Gender

As per the statistics, the life expectancy of women is longer as compared to that of men. Consequently, women tend to pay less premium compared to men for the same coverage.

Health Status

Your premium can be higher, in case of any pre-existing health conditions or a history of serious conditions.

Policy Term

The duration of the policy also plays a role in premium determination. Extended coverage periods command higher premiums as protecting yourself until age 75 costs more than coverage ending at 60.

Rider Benefits

Rider benefits are extra features that are added to a policy, like benefits for critical illness or accidental death. These make your premium go up.

Hobbies

Premiums can also be increased if you engage in adventurous activities. Skydiving enthusiasts, rock climbers, scuba divers, among others, pay more premium. Insurers assess danger levels associated with adventure sports, incorporating appropriate premium modifications that account for elevated risks.

Who Should Buy a Term Insurance Policy?

Let us take a look at who should buy a term insurance plan: anyone with financial dependents, such as parents, single individuals with senior parents, professionals with debts, or those nearing retirement.

Parents

Family planning requires substantial finances. A term insurance for parents can secure your children’s future in your absence. The death benefit covers education expenses, marriage costs, and daily necessities.

Professionals

Professional degrees require substantial loans. Term plans, such as ₹50 lakh term insurance, ₹30 lakh term insurance, or ₹20 lakh term insurance provide adequate coverage to settle educational loans, preventing debt transfer to parents who co-signed loans.

Retirees

If you are approaching retirement, term insurance plans can provide peace of mind. It ensures that your family members will be financially protected in your absence and can pay off any remaining debts.

Taxpayers

Tax efficiency transforms term insurance from pure expense into partially subsidized protection through an array of deductions under the Income Tax Act. For instance, Section 80C deductions reduce taxable income and Section 10(10D) exempts death benefit from taxation.

Working Women

Today, women support families not only emotionally but also financially. Term insurance for women allows them to secure the future of their family, so their family members and the dreams of their little ones are protected.

Housewives

Housewives may not earn a paycheck, but their contribution to the family highlights the importance of term insurance for housewives. A separate term plan for the wife and husband offers greater protection and tax benefits on both policies.

Young Individuals

At a young age, most policyholders have fewer health issues and lower risk profiles. Hence, they can benefit from affordable premiums to secure long-term financial protection for their future families and dependents.

Self-employed

Self-employed people cannot avail of the life insurance benefits offered by their employers. In such cases, term insurance for self employed individuals is a must to keep their families financially sound in case of untimely death.

Non-Resident Indian (NRI)

Term insurance for NRI is essential for NRIs with families or other financial interests in India to ensure protection for loved ones back home. It can take care of family needs anywhere in the world

Senior Citizens

Term insurance for senior citizens can help elderly individuals who still have dependents or who want to leave behind a financial legacy. Despite higher premiums, term insurance policies can offer financial support for the surviving family members.

7 Key Life Situations to Purchase Term Life Insurance

Certain life events make it ideal to buy a term life insurance policy. You should consider getting insured under the following circumstances:

Health Conditions

You should enroll when you are comparatively healthy, as you may be able to obtain low charges. It is prudent that you take term insurance at an early age in case you are vulnerable to any diseases or in case your family has a history of diseases.

Starting a Family

Once you are married to someone or preparing to have children, you need to consider the financial stability of the ones you love. A term policy protects your partner and future children in the event of your death.

Taking on Debt

In case you have availed a home loan, car loan, or any major financial obligation, you should consider a term life policy. It brings the assurance that your family does not have to worry about paying debts without you around.

Growing Your Family

Having a child in your life is the most wonderful experience, as well as a heavy financial investment. A group term life insurance provides your family with extra security to cover costs such as education, medical costs, and expenses of day-to-day living.

Changing Jobs or Careers

Do you change jobs only to lose employer-sponsored life insurance cover? Such issues can be avoided by an individual term life policy, as it has consistent coverage and does not matter where you work.

Estate Planning

If you are considering leaving an inheritance or ensuring that your assets are passed on smoothly to your loved ones, term insurance is a smart choice. It can provide the funds needed for estate taxes or other expenses.

Reviewing Existing Coverage

In case it has been some years now since you got life insurance, it would be good to review your coverage. You might require more extensive protection due to changes in your family, your responsibilities, or an increase in your income.

Testimonials

I recently bought a Kotak Life Term Insurance plan online and received a special discount. The premium lowers from second year onwards, making their 1Cr E-Term plan very affordable. The whole process was fast and seamless, which made buying the plan really easy.

- Sameer Mere; 06/04/2025

I always thought term insurance wasn’t useful, but Kotak Life helped me realize that it’s about protecting the people I care about. One thing I specifically liked about the plan is the special exit option because if nothing happens by the time I’m 60, I’ll get back all the premiums I paid for. That made me feel secure.

- Pankaj Kumar; 04/06/2025

I bought a Kotak Life term insurance plan and received a special discount for women, along with access to the wellness app, Happy You. The app offers free doctor consultations and health tasks that earn redeemable points. This unique benefit is truly valuable, as I couldn’t find anything like it offered by any other company.

- Unmani Joshi; 06/04/2025

My experience with Kotak e-Term Plan from filling the proposal form to policy issuance has been smoother. Uploading documents is generally challenging, but it was quite easier with Kotak Life. Their portal is responsive and intuitive. Keep up the good work.

- Mukund Solanke

Buying a term plan was long due for me. I found Kotak Life, logged in on their website and I got a call from their agent. I checked my eligibility through their portal, got a quote for the premium and I was in. My family's financial security was now in my hands. Now my life is stress-free.

- Rahul Gupta

Buying a term plan online sounded like a challenge as I am not used to buying critical insurance plans online. I came across Kotak Life when someone at work recommended to buy their Kotak e-Term plan. The plan is very simple, offered me plan options and I knew exactly that this was the right plan for me.

- Pranjal Gusain

I have a good financial portfolio but there was one thing missing, a term plan. I wanted to buy term plan was to ensure my spouse's financial future and keep her ready for any financial liabilities in my absence. After considering different plans, I finalized Kotak e-Term plan since it aligned perfectly with what I was looking for.

- Shehzan Merchant

Be it my family's financial future or my little one's happiness, Kotak e-Term plan helped me secure all of it in one insurance plan. They have affordable premiums, good life cover and some rider options that helped me manage many things at once. I strongly recommend you to buy a Kotak e-Term plan asap.

- Apurva Amod Gadikar

I was looking for a term plan when I came across the Kotak e-Term plan and used their portal to calculate premium. They have a simple portal where you enter the information and get a quote. Beyond that, I just enjoyed the fact that their journey is easy to follow and their call centre team assists if you are stuck somewhere.

- Anil Kumar G

Kotak e-Term plan was one of the recommended term plan while I was researching about the same. The service by the call centre agents was good. Also, their online portal is perfect. The Kotak e-Term plan helped me to become stress-free about any financial liability that might fall on my family, after me.

- Apurva Amod Gadikar

Kotak e-Term plan was a term plan I came across in an ad while surfing social media. I could not find a better term plan. It is affordable and they have good service centre agents who help you with everything kindly and patiently. Buy a term plan if you want to live a stress-free life, save taxes and ensure your family's finance is in good hands.

- Rajaganesh Rj

A term plan is one of the insurance policies everyone should have, as per me. I bought Kotak e-Term plan and paying premiums for a year or more. The best part is it offered me flexible premium payment options that aligned with my financial commitments. Plus, they have different plan options that makes it easier for choosing the right cover as per your needs.

- Jayant Mohanrao Gaikwad

Why Buy a Term Plan Online from Kotak Life?

Booking a term plan online provides a comfortable and convenient way to get the top term insurance plans available, along with easier processing and accessibility. Here is why it is a smart choice:

Online Discount Up to 7.5%"

Term insurance can also be purchased online, and this may result in further savings. Kotak Life provides a unique online discount of up to 7.5%. Such a discount will lower the amount of money you pay as a premium and is a cheaper alternative to achieving comprehensive coverage, as well as leverage the benefits of convenience and efficiency of digital platforms.

Convenience

When you buy a term plan online, you get a chance to browse, compare, and purchase policies from the comfort of your home. People do not have to meet in person, making the process faster and easier for those with busy schedules.

Transparency

Online platforms show all the details of a policy clearly, so you can compare features, premiums, and benefits from different insurers without any hidden information or pressure from agents. This transparency helps you make smart and confident choices.

Cost-effective

Term plans sold online, in many cases, come at a lower price, as additional intermediaries and associated commission and administration costs are avoided. Such savings are transferred to you in the form of a lowered premium on the same coverage.

Easy Comparison

Online comparison tools allow you to request quotes on insurance coverage details from a number of companies and compare the different plans they offer. This will help you choose one of the top term insurance plans that will have wide coverage at a fair price.

Faster Policy Issuance

When you buy a plan online, it generally takes a shorter time and has an immediate effect in the issuance of the policy, as digital documentation is mailed directly to you. This facilitates the handling, retrieving, and safekeeping of your insurance records.

24/7 Availability of information

Unlike the case with physical branches, online insurance websites can be reached at all times. You are able to read policies, pay, and even contact customer service 24/7 via chat assistance or the Q&A section.

Optional Add ons

While buying a plan online, you may have direct access to a variety of riders, such as critical illness or accidental death, etc., that you can simply add after a few clicks. Such flexibility allows your policy to be customized as per your needs.

A few minutes for a lifetime of family’s security.

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What Are the Term Insurance Plans in India 2026?

Choosing a term insurance plan depends entirely on your individual needs, financial goals, and life stage. Here is a comprehensive table to help you understand the different types of term plans and who they are best suited for:

Plan Type Key Feature
Standard Term Insurance (Pure) This is the most basic and affordable form. It pays a lump-sum death benefit to the nominee if the insured dies during the policy term. There is no survival benefit.
Term Insurance with Critical Illness Rider This plan offers a dual benefit. In addition to the death cover, it provides a lump-sum payout if the policyholder is diagnosed with a pre-specified major illness (like cancer, heart attack, or stroke).
Term Insurance with Return of Premium (TROP) This plan provides a death benefit if the insured passes away. However, if the insured survives the entire policy term, the insurer refunds all the term insurance premiums paid.
Term Insurance with Waiver of Premium Rider An invaluable add-on where, if the policyholder is diagnosed with a critical illness or suffers a permanent disability, all future premiums are waived by the insurer, but the life cover continues uninterrupted.
Term Insurance with Monthly Income Payout This plan disburses the death benefit in a structured manner: a part of it as an immediate lump sum and the rest as a fixed monthly income for a specified number of years.
Group Term Life Insurance Plan A master policy that provides life cover to a group of individuals, typically offered by an employer to its employees as a part of their benefits package.
Increasing Sum Assured Plan In this plan, the Sum Assured automatically increases by a fixed percentage (e.g., 5% or 10%) each year, helping the life cover keep pace with inflation and your growing responsibilities, often without an increase in premium.
Whole Life Insurance Plan While technically a form of permanent insurance, some insurers offer this as a term plan variant that provides coverage for your entire life (up to 99 or 100 years). It guarantees a payout, regardless of when you pass away.

How to Choose a Term Insurance Plan suitable for you?

With so many insurance companies and innumerable policy options, such as short term insurance, whole life insurance, increasing sum assured plan, etc., available in the market, choosing a suitable term policy seems to be a difficult and confusing task. You need to check and compare various factors before choosing a term life insurance policy from a particular insurer. Here is how you should proceed:

1. Understanding the Importance of Sum Assured

The sum assured is the single most important number in your policy. It is the tax-free money your family receives if you die. The right amount lets them pay off all debts, maintain their lifestyle, and secure their future.

2. Assessment of Your Insurance Needs

Calculate your true insurance needs with precision. Your age, income, and number of dependents all factor into the final number. A young professional needs less coverage whereas the family with a mortgage and other loans needs maximum protection.

3. Decide the Policy Tenure

Your policy term must cover you until your biggest financial responsibilities are gone. If you are in your 30s, choose a tenure that protects your family until the children are financially independent. This guarantees their needs are met.

4. Check the Sum Assured

The sum assured must be large enough to replace your income and clear all outstanding loans. A larger payout means a higher premium. Your task is to find the perfect balance between what your family needs and what you can afford.

5. Check the Premium Payment Structure

You can pay term insurance premiums in a single payment, yearly, or monthly. Match the payment frequency to your income. A steady salary works well with monthly payments, while irregular income may suit a yearly schedule.

6. Read the Policy Terms and Conditions

You must read the policy's fine print and understand every exclusion, the waiting periods, and the term insurance grace period. Even a simple online search for a phrase like "what is term insurance in Hindi" can provide vital clarity. This knowledge protects your family from a denied claim.

7. Check the Claim Settlement Ratio

Only consider insurers with a high Claim Settlement Ratio. It is proof of the company's reliability in paying claims. Kotak Life, for instance, has a claim settlement ratio of 98.61%#for the year 2024-25, which demonstrates a strong commitment to policyholders.

8. Assess Optional Riders Available

Riders are powerful upgrades for your base policy at additional cost. Options like critical illness, accidental death, and waiver of premium add huge layers of financial protection. Add the riders that address your personal risks to build a comprehensive plan.

9. Compare Multiple Quotes

Before making a final decision on a suitable term policy, you should compare multiple quotes from different insurers. Premiums, features, and available riders are never the same. Comparison is the only way to find the term plan suitable for your needs.

10. Check Solvency Ratio

The solvency ratio measures an insurer's long term financial health. A high ratio is non-negotiable because it shows the company can pay claims decades from now. Kotak Life Insurance has a solvency ratio of 2.45%$ in FY 2024-2025, signaling a rock solid financial position.

11. Consider Quality of Service and Online Availability

Assess the insurance provider's service quality, such as customer support, efficiency in the process of claim, and ease of accessibility to information about the policies. You should choose the insurance companies that support the policyholders with online services so that you can easily and conveniently manage your policy.

12. Opt for a Term Insurance Plan with Multiple Payout Options

Your plan should give you control over how the money is paid out. A large, lump-sum payout clears major debts in one go whereas a recurring monthly payout provides a steady replacement for your lost income. Choose the payout option that delivers the greatest long term security.

Term Insurance Riders offered by Kotak Life

Kotak Life Insurance offers riders to enhance your base term policy. They provide powerful benefits in specific situations. Here are three term insurance riders to consider for superior coverage:

Waiver of Premium Due to Permanent Disability

This rider waives the future premiums on certain occasions when the policy owner is permanently disabled due to an accident or sickness. The policy will continue to work, and the sum assured will get paid in a calculated manner. It gives economic security and durable insurance in case the income-earning ability of the insured person is affected.

Accidental Death Benefit

An accidental death benefit rider is an add-on that pays an extra amount of money to the nominee in case the policyholder dies in an accident. This money is over and above the base sum assured, offering an added financial help to the family against unforeseen circumstances.

Critical Illness Cover

This rider is designed to handle the high cost of treating a critical illness. A diagnosis of a covered illness, such as Cancer of Specified Severity or Myocardial Infarction (Heart Attack), triggers a single, tax-free lump sum payment. You have complete control over this money. Use it for top-tier medical care, to replace lost income, or to manage any other expenses during recovery. Whether you're facing the costs of Kidney Failure Requiring Regular Dialysis or the financial impact of Stroke Resulting in Permanent Symptoms, this rider helps provide financial support during critical times.

Why is Critical Illness Rider Important with Term Insurance?

A critical illness rider is not just an option; it is a financial necessity. The medical costs associated with a major illness can destroy your family's savings and financial future. These facts show why this rider is essential.

Provides a Lump-Sum Payout

A critical illness rider delivers a large, tax-free cash payout upon diagnosis, unlike the standard health insurance. This money is paid directly to you, and no limitations are laid on what you can do with it.

Maintains Your Financial Stability

A severe illness means you cannot work and your income disappears. This rider’s payout replaces that lost salary and keeps your life on track. Your family's daily expenses, loan payments, and children’s school fees are all covered.

Covers Costs Beyond Hospitalization

A major illness creates expenses your standard health policy may never cover. These are the costs of post-hospitalization care, a private nurse, ongoing tests, and expensive medications. The rider's funds handle these immense financial burdens.

Keeps Your Savings Intact

A medical crisis must not wipe out your life savings. This rider serves as a firewall for your biggest financial goals. It protects your retirement fund and your child’s education account from being drained by a single health event.

Enables Better Medical Care

A large cash payment gives you power and choice. It provides access to the best medical treatments available, without compromise. You can consult leading specialists and choose premier hospitals. Your only job is to recover, free from financial stress.

How to Reduce My Term Insurance Premiums?

Multiple factors set your term insurance premium, such as your age, your health, and your lifestyle. But you can control the final price. These methods will cut your term insurance cost without sacrificing your coverage:

1. Buy Early

Purchasing a term insurance plan when you are young secures a low premium and can provide you with longer coverage. Insurance providers view the younger members as their best deals since they are less of a risk. Example: A 25-year-old male in good health may perhaps pay ₹9,500 per annum on a sum assured of ₹1 crore. One who is 35 years old may pay ₹15,000 for the same plan.

2. Maintain a Healthy Lifestyle

Your lifestyle and health records directly affect your insurance policy rate. Simply by not smoking or drinking alcohol and ensuring that you are fit, you can reduce your insurance costs by a huge margin. An example would be that a smoker may pay twice the amount a non-smoker pays as a premium. In addition, by controlling conditions such as diabetes or hypertension, you will be able to secure lower premiums during underwriting as well.

3. Choose the Right Sum Assured, Tenure, and Premium Paying Term

Choose the sum assured on the basis of financial liabilities, such as loans, the education of your children, and monthly expenditures. You can estimate this using tools such as term insurance premium calculators. Example: A ₹1.2 crore plan would come at around ₹23/day, and a ₹2.5 crore plan would be around ₹39/day, depending on your age and health factor.

This displays how a higher sum assured, which has been carefully calculated, can be affordable, especially when you purchase early and make the right choice in time. Also, choosing a longer term of premium payment with a specific retirement age in mind can help you sustain a lower amount of premium.

4. Buy Online

Internet plans have cut the middlemen, lowering the insurer costs of operation. Often these savings are reflected to the policyholders in the form of lower premiums. It is also a good financial choice since many insurers provide discounts on first-year premiums with an online application.

If you are interested in simplified processes and low rates, you can also find term insurance without medical tests online. These plans are meant to satisfy those who want a faster issuance with no medical formality, but they can be restricted in terms of coverage and usually have lower limits.

5. Compare Policies Online

Every insurer has different premiums, riders, and policy terms, thereby, you should never skip the comparison step. Use online tools to see your options side by side. This is the only way to find the policy with the best benefits at the absolute lowest cost.

6. Avoid Unnecessary Riders

Every rider you add increases your premium. Only choose the ones that match your specific lifestyle and risks. A critical illness, permanent disability rider, or accidental death rider can be invaluable. If you travel constantly, the accidental death rider is a smart choice. If not, skip it and lower your cost.

Difference Between Term Life Insurance and Whole Life Insurance

While both term life and whole life insurance provide a death benefit, they are fundamentally different products designed for distinct financial goals. Understanding these differences is key to choosing the plan that best aligns with your needs.

Feature Term Life Insurance Whole Life Insurance
Primary Purpose It is a pure and simple financial protection plan. It is a combination of financial protection and a savings/investment component.
Coverage Duration Coverage is for a fixed, pre-defined period (e.g., 10, 20, 30, or 40 years). The policy expires at the end of the term. Coverage lasts for the entire lifetime of the insured person (typically up to the age of 99 or 100).
Premium Cost Premiums are significantly lower and more affordable, as you are only paying for the risk cover. Premiums are substantially higher, as a part of the premium funds the life cover and the rest is invested to build a cash value.
Death Benefit The sum assured is paid out only if the policyholder's death occurs within the specified policy term. The death benefit is guaranteed to be paid to the nominee, regardless of when the policyholder passes away, as long as the policy is active.
Maturity / Survival Benefit There is no payout if the policyholder outlives the term. The policy simply ends (unless it's a "Return of Premium" variant). The policy accumulates a guaranteed "cash value" over time. This acts as a savings component and is paid out if the policy is surrendered.
Cash Value Component There is no savings or investment component, so no cash value is accumulated. It has an in-built savings element that grows at a pre-determined rate. Policyholders can also take a loan against this accumulated cash value.
Best Suited For Individuals who need a large amount of life cover for a specific period (like their working years) at the most economical cost. It's ideal for income replacement and covering large liabilities like home loans. Individuals who want lifelong protection, are looking for a guaranteed financial legacy for their heirs, and wish to use their insurance policy as a long-term, low-risk savings tool.

Common Misconceptions About Term Insurance

Term Insurance Doesn’t Offer Any Returns:

Many believe term insurance for family is a waste of money because it doesn't provide cash value. However, its primary purpose is to offer financial protection to your family through a death benefit.

Health Insurance is Enough:

People often think health insurance covers all needs. While it pays for medical expenses, it doesn't provide financial support to your family if you pass away. Term insurance specifically secures your family’s financial future.

Smokers or Individuals with Health Issues Cannot Get Term Insurance

Insurance companies offer term insurance for smokers as well as for those who have existing health issues. However, such individuals should disclose all information while buying the plans and may be required to undergo additional medical test for term insurance. Furthermore, the term insurance smokers vs non-smokers comparison reveals a significant difference in premiums.

Term Insurance is Too Expensive

There’s a common belief that term insurance premiums are high. In reality, term insurance is one of the most affordable life insurance options, especially for younger individuals in good health.

You Can Get Term Insurance Later

Some delay purchasing term insurance, thinking they can buy it later. However, premiums increase with age, and health issues may arise, making it more difficult or expensive to get coverage later.

Term Insurance is Only for Breadwinners

Many assume only the primary income earner needs insurance. In reality, anyone contributing to the household, whether financially or through caregiving, should have coverage to protect their family’s standard of living.

How Long Should the Term Insurance Policy Period Be?

In Your 20s

You are likely to have few responsibilities and excellent health. Choose a term of at least 40 years or opt for lifetime coverage (up to age 99) to benefit from the lowest premiums and longest coverage.

In Your 30s

With growing family and financial commitments, a 40-year term or lifelong cover is still advisable. You may also shorten the term based on your retirement plans or major financial goals.

In Your 40s

You might be managing fewer liabilities now. A 30-40 year term can still provide substantial cover. First-time buyers at this stage may pay slightly higher premiums than younger applicants.

In Your 50s

Your children may be financially independent, and retirement may be near. A 20-25 year policy term should offer adequate coverage. However, if you're supporting dependents or prefer extended security, a longer tenure or coverage until 99 can be considered.

What is the Ideal Duration of Term Life Insurance?

Your policy term must cover the exact period your family depends on your income. Your insurance coverage must not end until your biggest debts are settled and your dependents are on their own feet.

As a rule, your term plan should protect you until retirement age, usually between 60 and 65. At that point, your home loan should be paid off and your children will be financially stable.

Determine your correct term with these key questions:

  • When will you retire?

     If you are 30 and plan to retire at 60, get a policy for at least 30 years.

  • When are your major loans paid off?

     A 25 year home loan demands a 25 year policy term.

  • When will your youngest child be self-sufficient?

     Your plan must cover your family until your last child completes their education and secures a job.

By aligning your policy term with these milestones, you ensure your family is protected during their most financially vulnerable years.

Payout Options in Term Life Insurance?

How your family gets the money is a critical decision. You must understand the available payout structures to make the right choice. These are your options for the term insurance payout:

One-Time Lump-Sum Payout

With this option, your nominee gets the entire death benefit in a single payment. A term insurance policy for ₹75 lakh pays out ₹75 lakh directly to your family after the claim is processed.

One-Time Lump-Sum Payment with Fixed Monthly/Annual Payouts

This is a combination approach, in which part of the money is paid up front as a large lump sum and the remainder is distributed as a fixed, steady income stream over many years.

One-Time Lump-Sum Payment with Increasing Monthly Payout

A portion of the benefit is delivered as a lump sum payment. The rest is provided as a regular monthly income that automatically increases every year. This is the best defense against future inflation.

What is Covered and Not Covered in Term Life Insurance?

While the coverage of term insurance is broad, it is essential to understand the specific situations that are covered and the exclusions that may lead to a claim being denied.

In most cases, a term insurance policy will pay the death benefit to the nominee regardless of the cause of death. Here are the common scenarios covered:

  • Death due to illness or medical conditions
  • Death due to COVID-19
  • Death resulting from unforeseen accidents
  • Death due to natural disasters like earthquakes, floods, tsunamis, or hurricanes
  • If the insured person is murdered, the death benefit is payable to the nominee

Insurers include specific exclusions to prevent fraud and manage risk. A claim may be rejected under the following circumstances:

  • Suicide within the first year
  • Death due to undeclared pre-existing illnesses
  • Death from self-inflicted injuries
  • Death while under the influence of intoxicants
  • Death while participating in illegal activities
  • Death due to hazardous or adventure sports

9 Documents Required for Term Life Insurance Claim Process

Having the right documents ready is key to a smooth term life insurance claim process. Here is what you need to prepare:

1. Death Certificate

The official death certificate is the primary document. It confirms the policyholder's passing and is issued by a local municipal authority.

2. Policy Document

You need the original term life insurance policy document. All policy details are here. It contains the terms, sum assured, and the nominee's information.

3. Identification Proof

The deceased policyholder’s identification is required. An Aadhaar card, PAN card, or passport will work. This verifies their identity.

4. Medical Records

If death was due to an illness, medical records are necessary. The treatment history validates the claim by giving details about the sickness and its progression.

5. Police Report (if applicable)

For an accidental or unnatural death, a police report or FIR is required. This document verifies the circumstances of the death.

6. Nominee/Beneficiary ID

The nominee must prove their own identity. An Aadhaar card or voter ID is needed to establish who they are and their right to the claim.

7. Bank Details

You must give the nominee’s bank account information. A canceled cheque or a copy of a bank passbook is required. This allows for the direct transfer of the claim payment.

8. Proof of Relationship

A document is needed to prove the link between the policyholder and nominee. A marriage certificate or birth certificate is standard.

9. Additional Documents

Some insurers might ask for more paperwork. A post-mortem report or an employer’s certificate might be requested in certain cases.

Choose the Best Term Insurance Plan as Per Your Needs

Choosing a term plan is not just about the premium. You have to match the policy to your income, life stage, and responsibilities. The right term insurance plan protects your family with sufficient coverage for the correct amount of time. Below are three powerful ways to find a plan tailored to you:

Term Insurance Plan as Per Policy Term

The correct policy term keeps your family secure through all key life stages. Choose a duration that lasts until major debts are gone. Your home loan should be paid off, and your children's education funded. Common term options to consider:

Term Insurance Plan as per Your Age

Age has a huge impact on your premium and options. Starting younger gives you access to cheaper and more flexible plans. These are typical plans based on age:

Circle Arrow

Term Insurance Plan based on Your Salary

Your salary dictates the right sum assured. Your goal is to maintain your family's lifestyle. The rule of thumb is to get coverage that is 10 to 15 times your yearly income. This amount ensures your family can handle future costs without worry. Examples based on income:

What is the Claim Settlement Process?

The process of the settlement of claims involves a set of actions that should be taken by a nominee to obtain the death benefit paid by the insurance company. The term insurance claim process usually involves the following four stages:

Stage 1: Claim Intimation

The first step is for the nominee to formally inform the insurance company about the demise of the policyholder. This can be done online through the insurer's portal, by email, by calling the customer service helpline, or by visiting the nearest branch office.

Stage 2: Document Submission

The insurance company will consequently ask the nominee to forward the required documents to process the claim. This usually consists of the duly completed claim form, the copy of the original death certificate issued by the municipal authority, the copy of the original policy document, and the KYC documents of the nominee, such as ID proof, address proof, and bank details, to receive the payout.

Stage 3: Claim Scrutiny and Verification

Upon receipt of all the documents, the claims department of the insurer will inspect the application and verify the authenticity of information. According to the IRDAI regulations, if no specific investigation is required, the insurer should settle the claim within 30 days of receiving all the necessary documents.

Stage 4: Claim Decision and Payout

In case the claim is approved, the insurance company will hand over the entire amount assured to the bank account of the nominee through an electronic transfer. In the rare case when the claim is denied, the insurer has the obligation to give the written notice to the nominee explaining the specific reason for rejection.

Reasons Your Term Insurance Claim May Be Rejected

There are common exclusions that apply to most term life insurance policies.

Death Due to Suicide

Most of the insurance policies will not pay for suicide within the first year of the policy. If the policyholder dies by suicide within the first 12 months, the claim is automatically denied. After this period, however, such claims are typically covered.

Example:

If a person passes away due to self-inflicted injuries, personal distress or self-harm within the first year of policy issuance, their nominee will not be able to claim the death benefit.

Death Due to Substance Abuse or Alcoholism

Insurers mostly do not cover deaths caused due to excessive alcohol consumption or substance misuse. The reason behind this is that these are considered avoidable risks.

Example:

A policyholder causes a fatal car accident while driving under the influence of alcohol. The insurer will reject the claim in this case.

Pre-Existing Medical Conditions

You must disclose your complete medical history when you apply. Hiding a known health condition is fraud. If death results from an illness you failed to declare, the insurer will reject the claim.

Example:

A policyholder with a known heart condition fails to disclose it. If they die from heart failure, the insurer can deny their claim.

Death Due to Participation in Illegal Activities

Any death that happens while committing an unlawful act is excluded from coverage. Insurers treat this as a high-risk situation that falls outside the scope of protection.

Example:

An individual loses their life while committing a robbery. Then in that case, the insurance company will exclude the claim because of the illegal activity.

Death Due to Self-Inflicted Injuries

Term policies exclude coverage for self-inflicted injuries. An intentional act of harm that leads to death means the benefit will not be paid.

Example:

The policyholder dies from injuries they deliberately inflicted on themselves. The claim will be denied.

Claims Not Filed within the Specified Time

Policies have a time limit for filing a claim. A nominee usually has around 90 days after the death. If they miss this window, the insurer may reject the claim.

Example:

If the nominee submits the claim long after the deadline, the insurer might not release the benefit amount.

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

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.

*Get your premiums back through Special Exit Value, under your policy, if your policy term is:

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

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

**Free Medical Checkup every 5th year starting from 5th policy year onwards

!1 Day Claim Settlement:

1.Policies must be active for a continuous period of 3 years from the date of issuance or the date of revival, whichever is later.

2. Applicable for individual death claims where all mandatory documents are submitted before 3 PM on an HO working day at any Kotak Life office from Monday to Friday.

3. The following cases are excluded: ULIP policies, Open title/rival claims, Claims requiring field verification, Policies requiring reversal of financial transactions, Rider claims.

4. The total claim amount for all life policies held by the life assured should be less than 50 Lacs.

This guarantee is applicable for the claims received after first 6 days of the month. Claims shall be settled within one day

37 Illness Covered Disclaimer:

βThe number has been derived from

https://www.kotaklife.com/assets/images/uploads/riders/pdfs/Kotak_Critical_Illness_Benefit_Rider_Linked_Brochure.pdf

13% Discount on Premium Disclaimer:

▪Savings on Premium % may vary basis Basic Sum Assured and Premium Payment Option subject to underwriting conditions. The savings 13% on premium is calculated based on 5% discount for Salaried or Existing customer + 3% online discount + 5.30% discount on Annual Premium Payment mode (Monthly Premium ₹ 1144*12 = ₹13,728 & Annualised Premium is ₹ 13,000, [(₹13,728 - ₹ 13,000/ ₹ 13,728)*100 = 5.30%]) Hence overall total is 13.30% ~ 13%.

Get 1 Crore Life Cover @₹475/month0 Disclaimer:

≈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 / 365 days = ₹ 14.79].

Online Discount – upto 7.5%”

"Discount Premium % may vary basis Basic Sum Assured and Premium Payment Option subject to underwriting conditions. This discount is applicable only for Kotak e-Term.

₹2 Lakh Instant Payout^^

^^In case of Life insured’s death after 3 consecutive policy year (from risk commencement or revival), and if the policy is in force, the insurer will endeavour to pay ₹2 lakhs in advance from the death benefit within 2 working days of claim registration-subject to submission all mandatory documents.

#Claim Settlement Disclaimer:

Figures arrived are basis the company's latest annual audited figures for individual death claims for FY 2024-25

https://www.kotak.com/content/dam/Kotak/investor-relation/Financial-Result/QuarterlyReport/FY-2025/q4/investor-presentation/Q4FY25_Investor_Presentation.pdf

Sources:

https://www.kotak.com/content/dam/Kotak/investor-relation/Financial-Result/QuarterlyReport/FY-2025/q4/investor-presentation/Q4FY25_Investor_Presentation.pdf
https://www.kotak.com/content/dam/Kotak/investor-relation/Financial-Result/QuarterlyReport/FY-2024/q4/investor-presentation/Q4FY24%20Investor-Presentation.pdf
https://www.kotak.com/content/dam/Kotak/investor-relation/Financial-Result/QuarterlyReport/FY-2023/q4/Investor-Presentation/Q4FY23-Investor-Presentation.pdf
https://www.kotak.com/content/dam/Kotak/investor-relation/Financial-Result/QuarterlyReport/FY-2022/q4/Investor-Presentation/Q4FY22-Investor-Presentation.pdf
https://www.kotak.com/content/dam/Kotak/investor-relation/Financial-Result/QuarterlyReport/FY-2021/q4/Investor-Presentation/Q4FY21-Investor-Presentation.pdf
https://www.kotak.com/content/dam/Kotak/investor-relation/Financial-Result/QuarterlyReport/FY-2020/q4/Investor-Presentation/Q4FY2020-investor-presentation.pdf

$Solvency Ratio Disclaimer:

https://www.kotak.com/content/dam/Kotak/investor-relation/Financial-Result/QuarterlyReport/FY-2025/q4/investor-presentation/Q4FY25_Investor_Presentation.pdf

For Young Professional Disclaimer:

1The 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 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. GST is exempted for all individual life insurance policies from 22nd September 2025.

For New Parents Disclaimer:

€The above illustration is for an 30-year-old healthy male, non-smoker who has opted for the Life Option with a 30-year policy term with regular premium payment option, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The per month premium is ₹ 678 [₹7,700 Annualized Premium X modal factor 8.80% = ₹ 677.6]. 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. GST is exempted for all individual life insurance policies from 22nd September 2025.

For Loan Holder Disclaimer:

πThe above illustration is for an 30-year-old healthy male, non-smoker who has opted for the Life Option with a 30-year policy term with regular premium payment option, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The per month premium is ₹678 [₹7,700 Annualized Premium X modal factor 8.80% = ₹677.6]. 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. GST is exempted for all individual life insurance policies from 22nd September 2025.

For Working Women Disclaimer:

£The above illustration is for an 18-year-old healthy female, non-smoker who has opted for 40 year policy term with regular premium payment option and Sum Assured on Death of ₹2 Crore. The per month premium for 1st year is ₹915 and the per day premium is ₹28 [₹10,400 Annualized Premium X modal factor 8.80% equal to ₹915.2 = ₹28.49]. The premium is assuming the policy is bought Online and the customer has not purchased any policy from Kotak Life Insurance. Annualized Premium is the premium payable in a policy year, excluding the under writing extra premiums, loadings for modal premium, as applicable and Rider Premium, if any. GST is exempted for all individual life insurance policies from 22nd September 2025.

<Discount for salaried women – There would be a special discount of 16% throughout the premium paying term applicable for salaried female life insured.

For Self Employed Disclaimer:

αThe above illustration is for an18-year-old healthy male, non-smoker who has opted for 40 year policy term with regular premium payment option and Sum Assured on Death of ₹2 Crore. The per month premium for 1st year is ₹1,144 and the per day premium is ₹36 [₹ 13,000 Annualized Premium X modal factor 8.80% equal to ₹1,144 = ₹35.61]. The premium is assuming the policy is bought Online and the customer has not purchased any policy from Kotak Life Insurance. Annualized Premium is the premium payable in a policy year, excluding the under writing extra premiums, loadings for modal premium, as applicable and Rider Premium, if any. GST is exempted for all individual life insurance policies from 22nd September 2025.

Get 1 Crore Life Cover @₹15/day Disclaimer:

^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 day premium is ₹15 [₹5,400 Annualized Premium / 365 days = ₹ 14.79].

Get 1.5 Crore Life Cover @₹22day Disclaimer:

≈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 mode, Level Recurring Payout Option and Sum Assured on Death of ₹ 1.5 Crore. The per day premium is ₹ 22 [₹8,100 Annualized Premium / 365 days = ₹ 22.19].

Get 2 Crore Life Cover @₹30/day Disclaimer:

≈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 mode, Level Recurring Payout Option and Sum Assured on Death of ₹ 2 Crore. The per day premium is ₹ 30 [₹10,800 Annualized Premium / 365 days = ₹ 29.59].

Get 5 Crore Life Cover @₹67/day Disclaimer:

≈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 mode, Level Recurring Payout Option and Sum Assured on Death of ₹ 1.5 Crore. The per day premium is ₹ 67 [₹24,500 Annualized Premium / 365 days = ₹ 67.12].

Get 75 Lakh Life Cover @₹16/day Disclaimer:

≈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 mode, Level Recurring Payout Option and Sum Assured on Death of ₹ 1.5 Crore. The per day premium is ₹ 16 [₹5,775 Annualized Premium / 365 days = ₹ 15.82].

Get 51 Lakh Life Cover @₹11/day Disclaimer:

≈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 mode, Level Recurring Payout Option and Sum Assured on Death of ₹ 1.5 Crore. The per day premium is ₹ 11 [₹3,927 Annualized Premium / 365 days = ₹ 10.75].

The channel selected is Online.

Instant 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.

@Tax benefits under the policy are subject to conditions as per Section 80C, 80D,10(10D),115BAC as applicable and other provisions of the Income Tax Act, 1961.Tax laws are subject to amendments from time to time. Customer is advised to take an independent view from Tax Advisor.

Tax benefit of 54,600 (46,800 u/s 80C & 7,800 u/s 80D) is calculated at highest tax slab rate of 31.2% (including Cess excluding surcharge) on life insurance premium u/s 80C and health premium u/s 80D. Tax benefits under the policy are subject to conditions as per Section 80C, 80D, 10(10D), 115BAC, as applicable and other provisions of the Income Tax Act, 1961. Tax laws are subject to amendments from time to time. Customer is advised to take an independent view from Tax Advisor.

Section 80D permits a tax deduction on health insurance premiums paid. The benefit of 7,800 would only be applicable if the customer opts for Kotak Critical Illness Plus Benefit Rider. Kotak Critical Illness Plus Benefit Rider -In case of diagnosis with any one of the 37 Critical Illnesses specified under Kotak Critical Illness Plus Benefit Rider, the Rider shall terminate post Rider Sum Assured has been paid to the Life Insured, and the Base Plan shall continue for the remaining policy term, provided base plan premiums are paid. In case the life insured undergoes Angioplasty, minimum of 5 lacs or Base Rider Sum Assured will be payable, and the remaining rider sum assured (if any) shall continue for the remaining 36 Critical Illnesses, provided reduced rider premiums are paid. This Rider shall terminate once 100% of the Rider Sum Assured has been paid or on the completion of the Rider Benefit Term, whichever is earlier.

Riders 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. &Discounted Premium % may vary basis Basic Sum Assured and Premium Payment Option; and Subject to underwriting conditions.

+GST is exempted for all individual life insurance policies effective from 22nd September 2025.

∞Guaranteed if policy is in force and all the premiums are paid

Kotak Gen2Gen Protect UIN: 107N132V02, Kotak Permanent Disability Benefit Rider - UIN: 107B002V03, Kotak Critical Illness Plus Benefit Rider - 107B020V02, Kotak Accidental Death Benefit Rider - UIN: 107B001V04. This is a non-participating non-linked life insurance individual savings product.

Kotak e-Term UIN: 107N129V03, Kotak Critical Illness Plus Benefit Rider UIN No.: 107B020V02, Kotak Permanent Disability Benefit Rider UIN No.: 107B002V03. This is a non-participating non-linked life insurance individual pure risk product.

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.

Kotak Term Plan UIN: 107N005V07 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.

Kotak Saral Jeevan Bima UIN: 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.

Kotak Health Maximise UIN: ZUKHLIP24026V022324 is a Combi Product with both protection & health benefits, where protection benefits are being offered by Kotak Mahindra Life Insurance Company Ltd. under Kotak Term Plan - UIN 107N005V06 and health benefits are being offered by Zurich Kotak General Insurance Company (India) Limited under Health Premier – UIN ZUKHLIP23109V052223.

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.

Kotak Signature Legacy UIN: 107N135V02, Kotak Permanent Disability Benefit Rider - UIN: 107B002V03, Kotak Accidental Disability Guardian Benefit Rider – UIN: 107B011V02

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.

This website content only gives the salient features of the 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.

Section 41-

Extract of Section 41 of the Insurance Act, 1938 as amended from time to time states:

(1) 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.

(2) 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/section38_39_45_of_insurance_act_1938.pdf

Kotak Mahindra Life Insurance Company Limited | Reg No. 107 | CIN: U66030MH2000PLC128503, Regd. Office: 8th Floor, Plot # C- 12, G- Block, BKC, Bandra (E), Mumbai – 400051 | Toll Free: 1800 209 8800 | Website: https://www.kotaklife.com | Email: kli.in/WECARE ARN No: KLI/25-26/E-WEB/2415

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