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A Non-Participating Non-Linked Life Insurance Individual Pure Risk Product
Your family is your first priority. You strive to provide comfort, happiness, and security to your family and you would want your family’s future to be secured at all times. Even when you are not around you want to ensure you have secured their financial future. Kotak e-Term has been specially designed to let you give that assurance to your family.
Kotak e-Term is a pure risk cover term 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. You can also choose additional cover through optional riders available along with the plan, thereby, ensuring a complete cover against the unfortunate eventualities
Offers the benefit of high cover at economical prices
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
• Life Plus Option - Benefit under Life Option
PLUS
Accidental Death Benefit sub. To 1 crore
• Life Secure Option - Benefit under Life Option
PLUS
Waiver of Premium in case Life Insured becomes Totally & Permanently Disabled
Choose between Immediate, Level Recurring or Increasing Recurring Payout basis your family’s requirement.
• Immediate Pay-out: 100% of Sum Assured on Death payable as lump-sum
• Level Recurring Pay-out: 10% of Sum Assured on Death payable as lump-sum
PLUS
6% of Sum Assured on Death payable every year for 15 years
• Increasing Recurring Pay-out: 10% of Sum Assured on Death payable as lump-sum
PLUS
Increasing Payout every year by 10% p.a for 15 years starting with 6% of Sum Assured on Death
Increase or decrease your life cover basis on various life stages**
Enhance your coverage with Kotak Critical Illness Plus Benefit Rider or /and Kotak Permanent Disability Benefit Rider
Get your total premiums back at age 60 through Special Exit Value
1. Telemedicine Consultation 2. Personal Medical Care 3. Lifestyle Management Programs 4. Emergency Response Service 5. Home Health Care 6. Pharmacy Access 7. Free Medical Checkup every 5 years These services can be accessed through the Wellbeing App.
Entry Age (Age as on last birthday):
Minimum: 18 years
Maximum:
Maturity Age: Minimum – 23 years
Maximum :
| Premium Payment Term | Policy Term | ||
| Regular Pay | Same as Policy Term | Min: 5 years Max: Life & Life Secure Option: Highest of 40 years or 75 Years minus less Age at Entry or 85 Years minus less Age at Entry Life Plus Option: Highest of 40 Years or 75 Years minus less Age at Entry | |
| Limited Pay | 5 Pay | Min: 10 Years | Life & Life Secure Option: Highest of
Life Plus Option: Highest of
|
| 7 Pay | Min: 12 Years | ||
| 10 Pay | Min: 15 Years | ||
| 15 Pay | Min: 20 Years | ||
| Pay till 60 (Minimum PPT of 10 Years) | Min: 15 Years | ||
| Single Pay | One Time Payment | ||
Life Secure option shall not be applicable for Single Pay Policy
The following modal loadings shall be used to calculate the instalment premium in case of Regular and Limited Premium Payment Options:
| Premium Payment Type | Premium Payment Modal Factor |
|---|---|
| Single Premium | 100% of Base Premium |
| Yearly | 100% of Annual Premium |
| Half-Yearly | 51% of Annual Premium |
| Quarterly | 26% of Annual Premium |
| Monthly | 8.8% of Annual Premium |
Minimum Premium shall vary based on the Age, Gender & Lifestyle (Tobacco / Non-Tobacco user) of the Life Insured along with Plan Option, Payout Option, Policy Term, Premium Payment Term, Distribution Channel and the Basic Sum Assured opted for the policy.
Maximum Premium: No limit but shall depend on the Maximum Basic Sum Assured which is subject to underwriting.
Min – Rs 51,00,000
Max – No limit, subject to Underwriting Policy
However Accidental Death Benefit payable under Life Plus Option shall be subject to a maximum of Rs 1 Crore
In case the Life Insured becomes permanently disabled due to an accident during the policy term, 120% of the Rider Sum Assured shall be payable over 5 years, while the base plan continues for the remaining policy term.
DownloadRider Sum Assured shall be payable in part or whole, in case the Life Insured is diagnosed with any one of the 37 Critical Illnesses (subject to terms and conditions)
DownloadDownload the brochure to know more about the plan and how it can benefit you.
You may avail of tax benefits as per the Income Tax Act, 1961 subject to conditions as specified in those sections. Tax benefits are subject to change as per tax laws. You are advised to consult your Tax Advisor for details. Goods and Services Tax and Cess, as applicable shall be levied over and above premium amount shown here as per applicable tax laws.You may avail of tax benefits as per 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:
**Step Up is only applicable for Regular Premium paying policy. Step Up is not applicable for Online Channel. Step Down can only be done once during the policy term and can be exercised only if Step Up option has not been chosen or if chosen but not exercised.
***Kotak Permanent Disability Rider is not applicable for Online Channel and cannot be opted under the plan if the policyholder has opted for Life Secure option.
Terms & Conditions:
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.
Kotak e-Term; UIN No.: 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. 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 Mahindra Life Insurance Company Ltd.
Reg No. 107; CIN : U66030MH2000PLC128503; Regd. Office: 8th Floor, Plot # C- 12, G- Block, BKC, Bandra (E), Mumbai – 400051 | Website: www.kotaklife.com; WhatsApp: 9321003007 | Toll Free: 1800 209 8800 | Ref. No. KLI/24-25/E-WEB/716
Trade Logo displayed above belongs to Kotak Mahindra Bank Limited and is used by Kotak Mahindra Life Insurance Company Ltd. under license.
You work so hard to build a secured and stable life for you and your loved ones, but in present times, only working hard is not enough, it is important to have a financial plan in place. While you take adequate measures to take care of your health, you still need insurance to secure your health as well as life.
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The Kotak Term Plan is a pure risk cover plan and an economical way of providing an adequate level of financial protection.
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You may avail of tax benefits as per the Income Tax Act, 1961 subject to conditions as specified in those sections. Tax benefits are subject to change as per tax laws. You are advised to consult your Tax Advisor for details. Goods and Services Tax and Cess, as applicable shall be levied over and above premium amount shown here as per applicable tax laws.
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