Kotak e-Term Plan

Buy Term Insurance

What is Term Insurance

Term insurance is the most basic and cost-effective form of life insurance availed for a predefined period of time. The objective of term insurance is to provide financial coverage to the policyholder (you) and/or beneficiary in case of unfortunate events in return for paying regular premiums. When you get term insurance, you can be assured that your family and dependents will be financially secure in your absence. This helps your family fulfil their future needs like higher education, marriage, buying a house etc.

What is Kotak e-Term Plan

Kotak e-Term plan is a pure protection term term insurance plan..

Kotak e-Term Plan has been specially designed to let you give that assurance to your family.

Your family is your first priority. You strive to provide comfort, happiness, and security to your family, and you would want their future to be secure at all times. Even when you are not around you want to ensure that you have secured their financial future.

Kotak e-Term Plan is a pure-risk cover term insurance plan that is truly an economical means of providing you with a high level of protection. It offers special premium rates to non-tobacco users and women. In case of policyholder’s untimely death, the beneficiary receives the death benefit as per the selected plan option.

Kotak e-Term Plan also offers the option to enhance your coverage against accidental death, total and permanent disability. Further, you can also choose additional cover through Kotak Critical Illness Plus Benefit Rider upon paying an additional premium, thus ensuring a complete cover against unfortunate eventualities.

Benefits of Term Insurance

High Coverage at Affordable Premiums

With premiums starting as low as Rs.23* per day, term insurance is one of the most affordable policies to have. Term insurance also takes care of your family’s future in case of unfortunate incidences such as untimely death, critical illness or permanent disability. With multiple plans and pay-out options, you get to choose your preferred payment option and select benefit options for your term insurance plan.

Financial Security

A term plan gives your family a lump sum amount that provides financial security. The sum assured can be used for your children’s higher education and to take care of daily expenses. Financial liabilities, like home loan, mortgage loan, etc., can be paid off using the death benefit amount.

Long-Term Insurance Coverage

You can get an extended insurance term with Kotak Life Insurance, where the policy term starts from 5 years to a maximum of 57 years with the entry age limit capped at 65 years and the maturity age capped at 75 years. This enables you to be covered for an extended period until the dependency of your children and other liabilities reduces.

Tax saving

Under Section 80C, you can claim income tax deductions for the premiums paid towards securing term insurance policy. Also, under Section 10(10D) of the Income Tax Act, 1961, your family is eligible to claim the death benefit as tax free. This is subject to conditions as specified in those sections, and the tax benefits are subject to change as per tax laws.

Cover for Major Illness

With Kotak Critical Illness Plus Benefit Rider, the sum assured is payable in case you are diagnosed with any one of the 37 critical illnesses listed. Kotak Life Insurance covers major ailments like cancer, brain tumour, blindness, and loss of limbs, among others.

Protection from Disability

By choosing the Life Secure option available under Kotak e-Term plan, you can avail an additional security feature. Life Secure safeguards you against permanent disability by waiving off future premiums and keeping the policy in-force for the entire term.

Secure Yourself against Accidental Death

With Life Plus Option, your loved ones are always secured, even in case of your accidental death. Your family will be eligible for claiming the complete sum assured and the accidental death benefit, subject to a maximum of INR 1 crore.

Flexibility in Paying Premiums

You have the flexibility to pay your insurance premiums as per your convenience. Kotak e-Term Plan provides you with a monthly and yearly premium payment option for your term insurance plan. You can choose the frequency according to your income cycle and preference.