Kotak e-Term Plan – Term Life Insurance | Kotak Life Insurance
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    Kotak e-Term Plan

    Kotak e-Term Plan is a pure term plan that provides a high level of protection to your loved ones in your absence.

  • Kotak E-Invest Plan

    Kotak e-Invest is a comprehensive Unit Linked Life Insurance Plan that can be customized as per your goals and needs - be it protection; investment; financial security for child or retirement planning.

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    Kotak Guaranteed Savings Plan

    Kotak Guaranteed Savings Plan is a savings and protection plan that helps you achieve long-term financial goals and insurance cover against any eventuality.

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    Kotak Lifetime Income Plan

    Kotak Lifetime Income Plan gives you the assurance of your income continuing throughout your life and in your absence throughout the lifetime of your spouse!

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    Kotak Health Shield

    The Kotak Health Shield Plan helps secure your finances in times of sudden medical expenses related to illness such as Cardiac, Liver, Neuro and Cancer (all early and major stages of illness /conditions of Cancer); along with offering protection for Personal Accident - in case of accidental death or disability.

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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.

How it works

Key Advantages

  • High Level of Protection at Nominal Cost

    Get protected @ less than Rs.23/day only*

  • Multiple Plan Options

    Choose between Life, Life Plus, or Life Secure option to ensure you have an ideal cover to secure your family:
    Life Option: 100% of sum assured on death shall be payable upon policyholder’s death
    Life Plus Option: 100% of sum assured shall be payable in case of accidental death of the policyholder along with death benefits, subject to a maximum of Rs.1 crore
    Life Secure Option: All future premiums shall be waived off in case the policyholder becomes total permanently disabled. The death benefit under the term insurance plan shall continue to be in force for the remaining policy term and on death 100% of sum assured on Death shall be payable.

  • Three Pay-out Options

    You have option to choose between Immediate, Level Recurring, or Increasing Recurring payout basis your family’s requirements
    Immediate Pay-out: 100% of the sum assured on death shall be payable in lump sum and the term insurance policy shall be terminated.
    Level Recurring Pay-out: 10% of the sum assured on death shall be payable at the time of claim settlement and 6% of the sum assured shall be payable every year for a period of 15 years. You can also opt to receive this annual payment in monthly mode which will be 8.22% of annual payments and the first installment will start one month after the date of death of the life insured.
    Increasing Recurring Pay-out: 10% of the sum assured on death shall be payable at the time of claim settlement and 6% of the sum assured shall be payable at the end of the first year from the date of death, thereafter the payout shall continue to increase by 10% every year. These instalments shall be payable at the end of every year for 15 years starting from the end of the first year. You can also opt to receive this annual payment in monthly mode which will be 8.22% of annual payments and the first installment will start one month after the date of death of the life insured.

  • Step Down options

    You have option to choose your life cover basis your requirements.

  • Customize Protection Through a Rider

    You can add more value to your coverage with Kotak Critical Illness Plus Benefit Rider

Eligibility

  • Age Criteria

    • Entry Age:
    • Minimum – 18 years | Maximum – 65 years (Except for Limited Pay - “Pay till 60 Years”) 50 Years (For Limited Pay - “Pay till 60 Years”)
    • Maturity Age: Minimum – 23 years | Maximum – 75 years
  • Basic Sum Assured

    • Minimum – Rs 25,00,000
    • Maximum – Subject to underwriting
  • Premium

    • Minimum - Will be determined basis plan option, pay-out option, age, gender, smoking status, policy term, premium payment mode, premium payment frequency and Basic Sum Assured opted for the policy
    • Maximum - No limit but subject to underwriting consideration;
    • Note: Preferred rates will be applicable for females and non-smokers
  • Premium Payment Term (PPT) / Policy Term

    Regular Pay
    Premium Payment Term Policy Term
    Same as Policy Term Min: 5 Years | Max: 40 Years or 75 Minus Age at Entry
    LimitedPay
    Premium Payment Term Policy Term
    5 Pay Min: 10 Years | Max: 40 Years or 75 Minus Age at Entry
    10 Pay Min: 15 Years | Max: 40 Years or 75 Minus Age at Entry
    Pay till 60 Years (Minimum Premium Payment Term of 10 Years) Min: 15 Years | Max: 40 Years or 75 Minus Age at Entry
    Single Pay
    Premium Payment Term Policy Term
    One Time Payment Min: 5 Years | Max: 40 Years or 75 Minus Age at Entry
  • Premium Payment Option

    • Regular, Limited & Single Pay
  • Premium Payment Mode#

    • Single,Yearly, Monthly
  • Modal Factor (% of annual premium)

    • following modal loading will be used to calculate the instalment Premium:
    • o Yearly – 100% of Annual Premium | Monthly – 8.8% of Annual Premium Additional Protection with Optional Riders

Additional Protection with Optional Riders

  • Kotak Critical Illness Plus Benefit Rider

    Rider sum assured shall be payable in case the policyholder is diagnosed with any one of the 37 critical illnesses (subject to terms and conditions)

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Read about Tax benefits & Plan Disclaimer

Read about Tax benefits & Plan Disclaimer

Tax Benefits & Disclaimers

You may avail of tax benefits under Section 80C and Section 10(10D) of Income Tax Act, 1961 subject to conditions as specified in those sections. Tax benefits are subject to change as per tax laws. Customer is advised to take an independent view from tax consultant.

Disclaimer:

* The above premium is applicable for a 30-year-old, non-smoker, healthy male, who wishes to buy Kotak e-Term Plan for a Sum Assured of Rs 10,000,000. with a 40 year policy term and pays regularly with annual premium of Rs. 8,400. The premium shown above is for Life Option with Level Recurring Payout option. The per day premium shown above is basis the annual premium considering 365 days. The premium is exclusive of Goods and Services Tax and Cess. Goods and Services Tax and Cess shall be applicable on the above premium as per current tax laws. #The features mentioned above is applicable for Kotak e-Term Plan sold through Online Channel.

Terms & Conditions:

This is a non-participating, pure protection oriented plan. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale. For more details on riders, please read the Rider Brochure. Kotak e-Term Plan UIN No.: 107N104V02, Form No. N104, Kotak Critical Illness Plus Benefit Rider UIN No.: 107B020V01, Form No.: B020. Ref. No: KLI/20-21/E-WEB/991

Regd. Office:

Kotak Mahindra Life Insurance Company Ltd.
Reg No. 107 | CIN: U66030MH2000PLC128503
2nd Floor, Plot # C- 12, G- Block, BKC, Bandra (E), Mumbai - 400051
Toll Free: 1800 209 8800 (8 am to 10 pm)

Website: www.kotaklife.com | WhatsApp: 9321003007

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS /FRAUDULENT OFFERS

IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

    Trade Logo displayed above belongs to Kotak Mahindra Bank Limited and is used by Kotak Mahindra Life Insurance Company Ltd. under license.