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Kotak Term Plan

A Non-Participating Non-Linked Life Insurance Individual Pure Risk Product

Life is uncertain. Unfortunate events like an untimely death of the breadwinner can put a family at a great risk of being financially insecure. Kotak Term Plan is a pure risk cover plan and an economical means of providing high level of financial protection. In this plan, the Sum Assured is paid to the beneficiary as a lump sum in case of the unfortunate death of the life insured. As a result, the family of life insured is financially well cushioned even if the life insured is no longer around to provide.

How it works

Key Features

  • Nominal Cost Insurance Plan

    Nominal Cost Insurance Plan

    Get a high level of protection at a nominal cost. The plan further provides preferential rates for female lives. Now you can get life cover of Rs.10 lakhs for a premium of Rs.182* per month only! *The premium stated for a 30 year old healthy female for a term of 10 years paying regularly, the monthly premium is Rs.182 (Annualized premium Rs. 2,066*8.8%). The above premium figures are exclusive of Goods and Services Tax and Cess, as applicable. Goods and Services Tax and Cess thereon, shall be charged as per the prevalent tax laws over and above the said premiums.

  • Flexible Premium Payment Options

    Flexible Premium Payment Options

    Whether you prefer a single premium payment mode or wish to pay regularly over years, we have the right solution for you. If you opt for the regular mode, you still have the choice of paying yearly, half-yearly, quarterly or monthly. You get a high level of flexibility in paying premiums.

  • Plan Conversion Option

    Plan Conversion Option

    Flexibility to convert Kotak Term Plan to a policy of any other plan^ offered by Kotak Life Insurance (except for another term plan) before the last 5 years of the policy term to suit your needs. ^Subject to the product specific conditions.

  • Additional Protection

    Additional Protection

    Enhanced protection further with optional riders. • Kotak Critical Illness Plus Benefit Rider (CIP): The Rider Sum Assured shall be payable on admission of a claim on any one of the 37 covered critical illness, subject to terms and conditions. • Kotak Accidental Death Benefit Rider (ADB): Lump sum benefit paid upon accidental death. • Kotak Permanent Disability Benefit Rider (PDB): Payout in installments upon admission on becoming disabled due to accident.

Eligibility

  • Eligibility

    Age Criteria

    • Entry age – Minimum: 18 years | Max: 65 years
    • Maturity age – Max: 70 years
  • Eligibility

    Policy Term

    • Policy Term: 5 to 30 years
  • Eligibility

    Sum Assured

    • Minimum: Rs. 3,00,000
    • Maximum: Rs. 24,99,999
  • Eligibility

    Premium

    Min: Regular Pay: Rs. 1,068

    Single Pay: Rs. 3,060

    Max: Based on Sum Assured, Policy Term, Gender & Premium Payment Option

  • Eligibility

    Premium Payment Details

    • Premium Payment Term (PPT): Regular Pay: Equal to Policy Term | Single Pay: Single payment
    • Premium Payment Option: Regular and Single pay
    • Premium Paying Mode: Single, Yearly, Half- yearly, Quarterly, Monthly
  • Eligibility

    Modal Factor (% of annual premium)

    • The following modal loading will be used to calculate the installment Premium
    • Yearly – 100%, Half yearly – 51%, Quarterly– 26%, Monthly– 8.8%

Additional Protection with Optional Riders

  • Additional Protection with Optional Riders

    Kotak Accidental Death Benefit Rider (ADB):

    In case of death of the life insured due to accident, rider sum assured will be paid in addition to the death benefit under the base plan.

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  • Additional Protection with Optional Riders

    Kotak Permanent Disability Benefit Rider (PDB):

    In case of life insured being permanently disabled due to accident, benefit is paid in installments.

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  • Additional Protection with Optional Riders

    Kotak Critical Illness Plus Benefit Rider

    Rider 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)

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Downloads

Download the brochure to know more about the plan and how it can benefit you.

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 laws are subject to amendments from time to time. Customer is advised to take an independent view from tax consultant.

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.

Terms & Conditions

Kotak Term Plan UIN No.: 107N005V06, 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. 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.

Regd. Office:

Kotak Mahindra Life Insurance Company Ltd.

Reg No. 107

CIN : U66030MH2000PLC128503

8th Floor, Plot # C- 12, G- Block, BKC,

Bandra (E), Mumbai - 400051

Toll Free: 1800 209 8800 (8 am to 10 pm)

Website: https://kotaklife.com

WhatsApp: 9321003007

Ref. No.: KLI/24-25/E-WEB/1306

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

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