Kotak e-Term Plan

Kotak e-Term plan is a pure protection term insurance plan.Kotak e-Term Plan has been specially designed to let you give that assurance to your family.Your family is your first priority. You strive to provide comfort, happiness, and security to your family and you would want your family’s future to be secured at all times. Even when you are not around you want to ensure you have secured their financial future.Kotak e-Term Plan is a pure risk cover term insurance plan that is truly an economical means of providing you with a high level of protection. It offers special premium rates to non-tobacco users and women. In the event of death of the life insured during the term, the beneficiary would receive Death Benefit as per plan option selected.Kotak e-Term Plan also offers the option to enhance your coverage against accidental death, total and permanent disability. Further, you can also choose additional cover through Kotak Critical Illness Plus Benefit Rider on payment of additional premiums, therefore ensuring a complete cover against the unfortunate eventualities.

Benefits of Term Insurance

Affordable Premium Option

With premium of as less as Rs. 9 per day term insurance is one of the most affordable policies to have. Term insurance also take care of future of your family in case of you being critically ill, or permanent disability or in an unfortunate event of death. With multiple plan options and multiple pay-out options, you get to choose the pay as well as select benefit options for your term insurance.

Add - on benefits

You can decrease your life cover basis your requirements. With Kotak Critical Illness Plus benefit rider, rider sum assured is payable in case you are diagnosed with of the listed 37 critical illness

Tax savings

Under Section 80C and Section 10(10D) of Income Tax Act, 1961, you may avail of tax benefits. This is subject to conditions as specified in those sections. It is advisable to consult your Tax Advisor for details.

Key Features

High Level of Protection at Nominal Cost

Get protected @ less than Rs.9/day only*

Multiple Plan Options

Choose between Life, Life Plus or Life Secure option to ensure you have an ideal cover to secure your family

Life Option: 100% of Sum Assured on Death shall be payable on Life Insured’s death
Life Plus Option: 100% of Sum Assured shall be payable in case of accidental death of the life insured along with death benefit, sub to a maximum of 1 crore.
Life Secure Option: All future premiums are waived in case the Life Insured becomes total and permanent disabled. The death benefit under the plan shall continue to be in force for the remaining policy term

Three Pay-out Options

Choose between Immediate, Level Recurring or Increasing Recurring pay-out basis your family’s requirements:

Immediate Pay-out: 100% of the Sum Assured on Death shall be payable in lump sum and the policy shall terminate
Level Recurring Pay-out: 10% of the Sum Assured on Death shall be payable at the time of claim settlement and 6% of the Sum Assured shall be payable every year for a period of 15 years
Increasing Recurring Pay-out: 10% of the Sum Assured on Death shall be payable at the time of claim settlement plus 6% of the Sum Assured on Death shall be payable at the end of the first year. Thereafter the pay-out shall increase by 10% p.a. (simple). These instalments shall be payable at the end of every year for 15 years staring from the end of first year

Step Up/Down options

Increase or decrease your life cover basis on various life stages

Customize Protection Through Riders

Enhance your coverage with Kotak Critical Illness Plus Benefit Rider or/and Kotak Permanent Disability Benefit Rider

Eligibility

Age Criteria : Entry Age: Minimum – 18 years | Maximum – 65 yearsMaturity Age: Minimum – 23 years | Maximum – 75 years
Policy Term : Minimum – 5 years Maximum – up to 40 years or “75 years – Age at Entry”
Basic Sum Assured : Minimum – Rs 25,00,000 Maximum – Subject to underwriting
Premium :
- Minimum: Will be determined basis plan option, pay-out option, age, gender, smoking status, policy term, premium payment mode, premium payment frequency and Basic Sum Assured opted for the policy
- Maximum: No limit but subject to underwriting considerationNote: Preferred rates will be applicable for females and non-smokers
Premium Payment Term (PPT) :
- Regular Pay: Equal to Policy Term
- Limited Pay: 5 / 10 pay
- Single Pay: Single payment
Premium Payment Option :

Regular, Limited & Single Pay
Premium Payment Mode :

Yearly, Monthly
Modal Factor (% of annual premium) :

The following modal loading will be used to calculate the instalment Premium:Yearly – 100% | Monthly – 8.8%

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