Eligibility

Premium:-

Minimum: Will be determined basis plan option, pay-out option, age, gender, lifestyle (tobacco /non-tobacco user), policy term, premium payment mode, premium payment frequency and Basic Sum Assured opted for the policy.

Maximum: No limit, but shall depend on the Maximum Basic Sum Assured which is subject to underwriting.
Note: Preferred rates will be applicable for females and non-smokers

Key features of Kotak e-Term Plan:-

Multiple Plan Options

Life Option:100% of sum assured on death shall be payable upon policyholder's death.
Life Plus Option:100% of Sum Assured on Death shall be payable Plus Accidental Death Benefit (in case of death due to accident), subject to a maximum of Rs. 1 crore.
Life Secure Option:All future premiums shall be waived off in case the policyholder becomes totally and permanently disabled. The death benefit under the plan shall continue to be in force for the remaining policy term and on death, 100% of Sum Assured on Death shall be payable.

Three Pay-out Options:

Immediate Pay-out:100% of the sum assured on death shall be payable as a lump sum immediately on the death of the Life Insured and the policy shall be terminated.
Level Recurring Pay-out:10% of Sum Assured on Death shall be paid immediately at the time of claim settlement & 6% of Sum Assured on Death shall be payable as annual installment at the end of every year for 15 years; the first payment being made one year after the date of death of the life insured.
Increasing Recurring Pay-out:10% of Sum Assured on Death shall be paid immediately at the time of claim settlement & 6% of Sum Assured on Death shall be payable at the end of 1st year from the date of death post which the payout shall increase by 10% (simple) every year. These installments shall be payable at the end of every year for 15 years starting from one year after the date of death.

Tax Saving:Under Section 80C, you can claim income tax deductions for the premiums paid towards 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. Tax benefits are subject to change as per tax laws. Customer is advised to take an independent view from tax consultant.

Disclaimers
Kotak e-Term Plan UIN No.: 107N104V03, 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. For more details, please log on to www.kotaklife.com

Kotak Mahindra Life Insurance Company Ltd.Reg No. 107 |CIN : U66030MH2000PLC128503 | Regd. Office: 8th Floor, Plot # C- 12, G- Block, BKC, Bandra (E), Mumbai - 400051 | Website: www.kotaklife.com | WhatsApp: 9321003007 | Toll Free: 1800 2098800 | Ref. No: KLI/22-23/E-WEB/719.

Trade Logo displayed above belongs to Kotak Mahindra Bank Limited and is used by Kotak Mahindra Life Insurance Company Ltd. under license.