Kotak Signature Term Plan

Kotak Signature Term Plan is a non-participating, non-linked pure risk life insurance plan that provides affordable and high-level protection to your family in case of your unfortunate demise.

Yes, you can enhance your coverage with three optional riders:

• Permanent Disability Benefit Rider: This rider provides an additional payout if the life insured becomes totally and permanently disabled due to an accident or illness. It ensures continued financial support, helping to cover the policyholder's needs in case of a severe disability.
• Critical Illness Plus Benefit Rider: This rider offers a lump sum payment if the life insured is diagnosed with any one of the 37 covered critical illnesses. It helps cover treatment costs and other related expenses, providing a financial cushion during a critical health event.
• Kotak Accidental Death Benefit Rider: Lump sum benefit paid on accidental death benefit rider of the life insured in addition to Death Benefit under the base plan.

The policy term can vary, with a minimum of 5 years and maximum of 67 years.

In case of death during the policy term, the nominee will receive the Sum Assured on Death as per the payment option selected that is Single / Regular / Limited and Instant payout on claim intimation ₹2 Lakh.

Sum Assured on Death shall be higher of the following:

For Regular and Limited Premium:

• Basic Sum Assured OR  
• 11 times Annualized Premium^@
• 105% of the Total Premiums paid^* (plus underwriting extra premiums, if any) till the date of death of the Life Insured

For Single Premium

• Basic Sum Assured OR 
• 1.25 times the Single Premium paid

^*Total Premiums Paid means total of all premiums paid under the base product, excluding any underwriting extra premiums, rider premiums and taxes but including any loadings for modal premium, if any.

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, we shall endeavor to pay an amount of ₹2 Lakh in advance to the Claimant within two (2) working days from the claim registration date.

The plan also offers a Special Exit Value if you decide to terminate the policy after a specified period, where the Total Premiums paid plus underwriting extra premiums paid if any, shall be returned if you terminate the policy. The policyholder only has a five years’ time period to avail this option commencing from:

• For Policy Term 40 years: Earlier 25th Policy Year or during the policy year when you attain 60 years, whichever is earlier
• For Policy Term >40 years: Earlier 30th Policy Year or during the policy year when you attain 60 years, whichever is earlier

If your policy lapses due to non-payment of premiums, you can revive it within five years by paying the outstanding premiums along with interest and providing medical evidence of continued insurability.

Tax benefits under the policy are subject conditions specified under the Income Tax Act, 2025 and other prevailing tax laws, if any as applicable. Tax laws are subject to amendments from time to time. Customer is advised to take an independent view from Tax Advisor. Goods and Services Tax and Cess, as any shall be levied over and above premium amount shown here as per applicable tax laws.