Kotak Term Plan

Kotak 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. It offers customizable options for additional coverage, including Accidental Death, Permanent Disability and Critical Illness.

Any individual between the age of 18 years to 65 years can buy this plan.

Minimum sum assured of ₹3,00,000 and Maximum sum assured of ₹50,00,000 offered under this plan.

Customers can choose premium payment modes – Annual, Half-yearly, Quarterly, Monthly and Single.

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

• 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.

• 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.

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.

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.