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Kotak e-Term Term Insurance Benefits

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Highlights
Claim Settlement Ratio98.50%
Customer Care8:00 AM to 10:00 PM
Death Benefit Paid For3,225 Policies
Inception2001
Presence232 Branches
Total Death Benefit PaidRs. 170.14 Crore

The term insurance plan provides different types of benefits which are as follow:

1. Death Benefit - In case of an unfortunate demise of a policyholder during the insurance policy term, the death benefit payout will be rolled out but its amount will vary on the basis of the opted plan options. It is applicable under different plan options in the following manner:

Events

Plan Options

Life

Life Plus

Life Secure

Natural Death of Policyholder

100% of SA will be payable on death

100% of SA will be payable on death

100% of SA will be payable on death

Accidental Death of Policyholder

100% of SA will be payable on death


Accidental Death Benefit will be paid subject to the maximum of Rs. 1 Crore

Total & Permanent Disability (TPD) of Policyholder

Not Applicable

All future premiums will be waived off and the plan will continue till the end of the plan term

2. Tax Benefits - The tax benefits can be earned on the amount of premium paid for this plan under section 80C. Also, the family of policyholders are eligible to avail of the death benefit and tax benefit under section 10(10D) of the Income Tax Act, 1961. These benefits are subject to conditions as specified in the sections of the policy and change as per tax laws.

Kotak e-Term Plan Brochure

  • 958.21 KB
  • PDF Document
  • Jun 22, 2021

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