Kotak Term Plan

A Non-Linked Non-Par Individual Pure Protection Life Insurance Plan

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.

Key Features

Nominal cost insurance plan
Get a high level of protection at a nominal cost. The plan further provides preferential rates for female lives.
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
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
Enhanced protection further with optional riders. ∙ Kotak Critical Illness Plus Benefit Rider (CIP): The Rider Sum Assured shall be payable on the 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

Age Criteria
- Entry age – Minimum: 18 years | Max: 65 years
- Maturity age – Max: 70 years
Policy
- Policy Term: 5 to 30 years
Sum Assured
- Minimum: Rs. 3,00,000
- Maximum: Rs. 24,99,999
Premium

Min: Regular Pay: Rs. 1,068

Single Pay: Rs. 3,060

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

Kotak Accidental Death Benefit Rider
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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Kotak Permanent Disability Benefit Rider
In case of life insured being permanently disabled due to accident, benefit is paid in installments.
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Kotak Critical Illness Plus Benefit Rider
Rider Sum Assured shall be paid in part or whole, in case the Life Insured is diagnosed with any of the 37 Critical Illnesses (subject to terms and conditions)
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Call on retail toll free number 1800 209 8800
Timings : 08:00 AM to 10:00 PM (Monday to Saturday) (excluding public holidays)

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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.

Terms & Conditions:

Kotak Term Plan UIN No.: 107N005V06, Form No. N005, Kotak Accidental Death Benefit Rider - UIN: 107B001V03, Form No: B001, Kotak Permanent Disability Benefit Rider - UIN: 107B002V03, Form No: B002, Kotak Critical Illness Plus Benefit Rider UIN: 107B020V01, Form No. B020. Ref. No.: KLI/23-24/E-EM/465.

This is a non-linked non-par individual pure protection life insurance 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.

Regd. Office:

Kotak Mahindra Life Insurance Company Ltd.

Reg No. 107
CIN : U66030MH2000PLC128503
8^th 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

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.

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Kotak Term Plan

Key Features

Nominal cost insurance plan

Flexible premium payment options

Plan conversion option

Additional Protection

Eligibility

Age Criteria

Policy

Sum Assured

Premium

Premium Payment Details

Modal Factor (% of annual premium)

Additional Protection with Optional Riders

Kotak Accidental Death Benefit Rider

Kotak Permanent Disability Benefit Rider

Kotak Critical Illness Plus Benefit Rider