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Kotak e-Term Plan has been specially designed to keep your family secured no matter what life unfolds. It is a pure-risk cover term insurance plan that is truly an economical means of providing you with a high level of protection.

Eligibility

Entry Age
Minimum:18years
Maximum:
  • 65 years (Except for Limited Pay - "Pay till 60 Years")
  • 50 Years (For Limited Pay - "Pay till 60 Years")
Maturity Age
Minimum:23years
Maximum:75years
Basic Sum Assured
Minimum:Rs.25,00,000
Maximum:Subject to Underwriting
Entry Age Maturity Age Basic Sum Assured
Minimum:18years Minimum:23years Minimum:Rs.25,00,000
Maximum:
  • 65 years (Except for Limited Pay - "Pay till 60 Years")
  • 50 Years (For Limited Pay - "Pay till 60 Years")
Maximum:75years Maximum:Subject to Underwriting

More about the product

Policy Term (PT) /Premium Payment Term (PPT)

Regular Pay
PPT PT
Same as Policy Term Min: 5 Years
Max: 40 Years or 75 minus Age at Entry
Limited Pay
PPT PT
5 Pay Min: 10 Years
Max: 40 Years or 75 minus Age at Entry
7 Pay Min:12 Years
Max: 40 Years or 75 minus Age at Entry
10 Pay Min:15 Years
Max:40 Years or 75 minus Age at Entry
15 Pay Min:20 Years
Max:40 Years or 75 minus Age at Entry
Pay till 60 Years (Minimum Premium Payment Term of 10 Years) Min:15 Years
Max:40 Years or 75 minus Age at Entry
Single Pay
PPT PT
One Time Payment Min: 5 Years
Max: 40 Years or 75 minus Age at Entry
Policy Term (PT) /Premium Payment Term (PPT)
Regular Pay
PPT PT
Same as Policy Term Min: 5 Years
Max: 40 Years or 75 minus Age at Entry
Limited Pay
PPT PT
5 Pay Min: 10 Years
Max: 40 Years or 75 minus Age at Entry
7 Pay Min:12 Years
Max: 40 Years or 75 minus Age at Entry
10 Pay Min:15 Years
Max:40 Years or 75 minus Age at Entry
15 Pay Min:20 Years
Max:40 Years or 75 minus Age at Entry
Pay till 60 Years (Minimum Premium Payment Term of 10 Years) Min:15 Years
Max:40 Years or 75 minus Age at Entry
Single Pay
PPT PT
One Time Payment Min: 5 Years
Max:40 Years or 75 minus Age at Entry
Premium Payment Mode
Yearly
Half-yearly
Monthly/Quarterly
Riders
Critical Illness
Permanent Disability
-
Multiple Plan Options
Life Option
Life Plus Option
Life Secure Option
Premium Payment Mode Riders Multiple Plan Options
Yearly Critical Illness Life Option
Half-yearly Permanent Disability Life Plus Option
Monthly/Quarterly - Life Secure Option
Note: ~These premium payment terms and Premium paying modes are not available for Online distribution channel

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
Note: Preferred rates will be applicable for females and non-smokers

Key features of Kotak e-Term Plan:-

Multiple Plan Option

Life Option:100% of sum assured on death shall be payable upon policyholder's death.
Life Plus Option:100% of sum assured shall be payable in case of accidental death of the policyholder along with death benefits, subject to a maximum of Rs.1 crore.
Life Secure Option:All future premiums shall be waived off in case the policyholder becomes total permanently disabled. The death benefit under the term insurance plan shall continue to be in force for the remaining policy term and on death 100% of sum assured shall be payable.

Three Pay-out Option:

Immediate Pay-out:100% of the sum assured on death shall be payable in lump sum and the term insurance policy shall be terminated.
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 year.
Increasing 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 at the end of the first year from the date of death, thereafter the payout shall continue to increase by 10% every year.

For Level Recurring Payout and Increasing Recurring Payout there is an option to receive the annual payment in monthly mode. Monthly payments shall be 8.22% of the Annual Payments. The first payment shall start from one month after the date of death of the life insured.

Tax Saving:Under Section 80C, you can claim income tax deductions for the premiums paid towards securing term insurance policy. Also, under Section 10(10D) of the income Tax Act, 1961, your family is eligible to claim the death benefit and avail tax benefit. This is subject to conditions as specified in those sections, and the tax benefits are subject to change as per tax laws.


Disclaimers:Kotak e-Term Plan UIN No.: 107N104V02, Form No. N104, Kotak Critical Illness Plus Benefit Rider UIN No.: 107B020V01, Form No.: B020, Kotak Permanent Disability Benefit Rider UIN No.: 107B002V03, Form No: B002. This is a non-participating, pure protection oriented 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.
This web-page is designed for The South Indian Bank Ltd. who is a Corporate Agent of Kotak Mahindra Life Insurance Company Limited with Corporate Agency License Number - CA0067. Regd. Office: SIB House, T.B. Road, Mission Quarters, Thrissur - 680001, Kerala. The plan is offered and underwritten by Kotak Mahindra Life Insurance Company Ltd. Participation of customers of Corporate Agent shall be purely on voluntary basis. 

Kotak Mahindra Life Insurance Company Ltd.Reg No. 107 |CIN : U66030MH2000PLC128503 | Regd. Office: 2nd Floor, Plot # C- 12, G- Block, BKC, Bandra (E), Mumbai - 400051 |Toll Free: 1800 2098800 | Website: https://insurance.kotak.com | Email: clientservicedesk@kotak.com | Ref. No: KLI/20-21/E-WEB/1018.

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.