Kotak Life Term Insurance Plans

Kotak Life Insurance offers the most basic and economic term insurance plans that offer financial protection to the policyholder and/or beneficiary in case of unfortunate events in return for paying a premium towards the plan on a timely basis. With the plans, come riders that you can opt for additional protection, by paying an additional premium at the time of policy purchase. These plans keep your family and dependents secure in your absence.

Kotak Life Term Insurance Plans

Explained below are the term insurance plans offered by Kotak Life Insurance:

1. Kotak Term Plan: Kotak Term Plan is an economical pure risk cover plan that people aged between 18 years and 65 years can buy. The maturity age for this plan is 70 years and the minimum and maximum sum assured are Rs. 3 Lakh and Rs. 24,99,999 respectively. The policy term can be chosen between 5 years and 30 years. The good news is that you can pay the premium for this plan in a single, yearly, half-yearly, quarterly, or monthly payment. Also, the plan comes with a plan conversion option and several riders to enjoy additional coverage. These include Kotak Accidental Death Benefit Rider, Kotak Permanent Disability Benefit Rider, and Kotak Critical Illness Plus Benefit Rider. You can purchase the Kotak Term Plan by paying a nominal premium.

2. Kotak E-Term Plan: A pure term insurance plan, Kotak E-Term can be purchased by people aged between 18 years and 50 years (for limited pay-pay till 60 years) or 65 years (except for limited pay-pay till 60 years). The minimum sum assured under the plan is of Rs. 25 Lakh and there is no maximum limit. However, the accidental death benefit payable under Life Plus Option shall be subject to Rs. 1 Crore. Premium payment modes offered under the plan are monthly, yearly, half-yearly, and quarterly. The plan comes with 3 pay-out options namely immediate pay-out, level recurring pay-out and increasing recurring pay-out. Also, you can choose riders for additional protection, i.e. Kotak Permanent Disability Benefit Rider and Kotak Critical Illness Plus Benefit Rider.

3. Kotak Saral Jeevan Bima Plan: Kotak Saral Bima Plan is a non-linked non-participating individual pure risk cover plan that can be purchased by people aged between 18 years and 65 years. It pays up in lump sum in case of demise of the insured. The minimum and maximum maturity age under the plan is 23 years and 70 years respectively. The plan comes with premium payment modes of single, yearly, half-yearly or monthly payment. The minimum and maximum basic sum assured under the plan is of Rs. 5 Lakh and Rs. 25 Lakh respectively. One of the highlights of this plan is that it provides preferential rates for female lives.