Kotak Mahindra Life Insurance Ltd is a private life insurance company established in January 2001. It is a subsidiary of Kotak Mahindra Bank Limited and provides a host of life insurance plans that gives all-round protection to more than 20 million customers. Its product suite provides the combined benefits of life protection and savings, which ensures that the buyer gets value for each dime spent.
Term Insurance Plans |
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Savings and Investment Plans |
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Retirement Plans |
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**Last Updated on 04-12-2020
Kotak Term Plan is a pure life cover plan that covers the life of the policyholder to protect their family in case of their unfortunate deaths. It is a nominal cost insurance plan that provides flexible premium payment options. The plan also allows the policyholder to convert this into any other plan offered by Kotak Life Insurance (except for another term plan).
Eligibility Criteria:
Entry Age | 18 years – 65 years |
Maximum Maturity Age | 70 years |
Policy term | 5 years to 30 years |
Premium Payment Frequency | Single, Yearly, Half-yearly, Quarterly, Monthly |
Basic Sum Assured | Minimum: Rs. 3,00,000 Maximum: Rs. 24,99,999 |
**Last Updated on 04-12-2020
Features:
The Kotak e-term plan is a specially designed pure risk cover plan that protects the insured's family against his/her unfortunate death. The plan offers the option to boost the coverage against Accidental death, total, and permanent disability.
Eligibility Criteria:
Entry Age | 18 years – 65 years |
Maturity Age | 23 years – 75 years |
Policy term | 5 years – 40 years or 75 years – Age at Entry |
Basic Sum Assured | Minimum: 25 Lac |
**Last Updated on 04-12-2020
Features:
There are 3 plan options to choose:
The plan has three payout options:
Kotak Single Invest Plus is a single premium unit-linked joint life insurance plan that is designed to provide the benefits of a joint life cover and investment gains. This plan offers a wide variety of benefits to ensure that the investment realizes its full value.
Eligibility Criteria:
Entry Age | Primary Person:
Secondary Person:
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Maturity Age | Primary Person:
Secondary Person:
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Policy Term | 10 years and 15 years |
Premium Payment Mode | Single (One-time) |
**Last Updated on 04-12-2020
Features:
Kotak Assured Income Accelerator is a non-participating guaranteed income anticipated endowment insurance plan that provides a risk-free guaranteed return every year, along with a life cover.
Eligibility Criteria:
Entry Age | Minimum: 0 years Maximum:
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Maturity Age | 18 years – 85 years |
Guaranteed Income Option | Monthly and Yearly |
Basic Sum Assured | 10 times of annual premium |
Premium Payment Mode | Yearly, Half-yearly, Quarterly, Monthly |
**Last Updated on 04-12-2020
Features:
Kotak Premier Endowment Plan is a non-participating endowment plan that provides guaranteed additions in the first five years, along with continued bonuses from the 6th policy year.
Eligibility Criteria:
Entry Age | 18 years – 60 years |
Maturity Age | Maximum 70 years |
Policy term |
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Premium payment mode | Yearly, Half-yearly, Quarterly, Monthly |
**Last Updated on 04-12-2020
Features:
Kotak Sampoorn Bima Micro-Insurance Plan is a non-linked and non-participating endowment assurance plan that has a fixed term of 5 years for helping low-income households. Just pay a small premium once and the plan will offer a fixed maturity benefit depending on the Life Insured's age at entry.
Eligibility Criteria:
Age Criteria | 18 years – 55 years |
Maximum Maturity Age | 60 years |
Policy term | 5 years |
Premium | Rs. 200 (fixed) |
**Last Updated on 04-12-2020
Features:
Kotak Single Invest Advantage is a single premium unit-linked life insurance, where you invest once and reap the benefits throughout the policy term. Combined with easy liquidity and investment strategies, this plan ensures that your investment objectives are fulfilled with ease.
Eligibility Criteria:
Entry Age | 10 years policy term:
15 years policy term:
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Maturity Age | 10 years policy term:
15 years policy term:
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Policy Term | 10 years and 15 years |
Basic Sum Assured | 10 times of Single Premium |
Minimum premium amount | Rs. 3 Lacs |
**Last Updated on 04-12-2020
Feature:
Kotak Assured Savings Plan is a non-participating endowment assurance plan that not only offers you affordable life coverage but also generates wealth for future financial needs.
Eligibility Criteria:
Entry Age | Min: 3 years Max: 60 years |
Maturity Age | Min: 18 years Max: 75 years |
Premium Payment Mode | Yearly, Half-yearly, Quarterly, Monthly |
**Last Updated on 04-12-2020
Features:
Kotak Guaranteed Savings Plan is a non-linked and non-participating life insurance plan that offers double benefit – life cover and savings.
Eligibility Criteria:
Entry Age | Min: 3 years Max: 60 years |
Maximum Maturity Age | Min: 18 years Max: 75 years |
Policy Term (Fixed) | 14 years / 15 years / 16 years / 20 years |
Premium Payment Mode | Yearly, Half-yearly, Quarterly, Monthly |
Basic Sum Assured | Will be derived basis Premium, Age, PPT & Policy Term |
**Last Updated on 04-12-2020
Features:
Kotak Invest Maxima is a unit-linked life assurance plan, which is designed as an investment product that gives maximum returns from the volatile equity market. The plan is a Systematic Switching Strategy that allows you to enter the equity market systematically.
Eligibility Criteria:
Entry Age | Regular Pay:
Limited Pay: • For Policy Term of 10/15 years: Min: 0 years; Max: 64 years • For Policy Term of 20/25/30 years: Min: 0 years; Max: 55 years Single Pay:
Min: 0 years; Max: 43 years
Min: 0 years; Max: 65 years |
Maturity Age | Min: 10 years, Max: 75 years |
Policy Terms (fixed) | 10, 15, 20, 25 & 30 yrs |
Premium Payment Mode | Annual & Single |
**Last Updated on 04-12-2020
Features:
Kotak SmartLife Plan is a limited pay non-linked participating life insurance plan that provides the option to get cash bonus payouts every year from the first policy year. This benefit helps to take care of all the interim financial needs or create an accumulated fund to meet your future goals.
Entry Age | Min: 3 years, Max: 55 years |
Maturity Age | 75 years |
Policy Term | 75 years less Entry Age of Life Insured |
Basic Sum Assured | Min: Rs. 2,50,000 Max: No limits |
Premium Payment Term | 6, 8, 10, 12, and 15 years |
Premium Payment Mode | Yearly, Half-yearly, Quarterly, Monthly |
**Last Updated on 04-12-2020
Features:
Kotak Premier Money back Plan is a savings cum insurance plan that provides lump sum payouts at regular intervals to meet your financial requirements.
Eligibility Criteria:
Entry Age | 2 years – 57 years |
Maximum Maturity Age | 75 years |
Policy Term (Fixed) | 16 years / 20 years / 24 years |
Premium Payment Mode | Yearly, Half-yearly, Quarterly, Monthly |
**Last Updated on 04-12-2020
Features:
Kotak Classic Endowment Plan is an individual, non-linked, and participating savings life insurance plan that offers long term protection cum savings with protection benefit while earning bonuses during the policy term.
Eligibility Criteria:
Entry Age | 0-70 Years |
Maturity Age | 18 - 75 years |
Policy Term | 15 to 30 years |
Premium Payment Mode | Yearly, Half-yearly, Quarterly, Monthly |
**Last Updated on 04-12-2020
The values may change as per the chosen plan option
Features:
Kotak Premier Income Plan is a limited pay participating life insurance plan that provides the benefit of getting Guaranteed Annual Income on an immediate basis after the premium payment term.
Eligibility Criteria:
Entry Age | Min: 3 years Max:
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Maximum Maturity Age | 18 years – 78 years |
Policy Term (Fixed) | 15 years / 19 years / 23 years |
Premium Payment Mode | Yearly, Half-yearly, Quarterly, Monthly |
Sum Assured | Will be derived basis Premium, Age, Gender, PPT & Policy Term |
**Last Updated on 04-12-2020
Features:
Kotak Ace Investment is an individual unit-linked life insurance plan that provides life cover and unit-linked investment strategies to generate more income during the policy term.
Eligibility Criteria:
Entry Age | 0-65 years |
Maturity Age | 18-75 years |
Policy Term | 10 / 15 / 20 / 25 / 30 years |
Mode | Annual, Half-yearly, Quarterly and Monthly |
**Last Updated on 04-12-2020
Features:
Kotak Platinum is an individual, unit-linked, and non-participating life insurance plan that allows individuals to customize the investment strategies as per their financial needs.
Eligibility Criteria:
Entry Age | 0-65 years |
Maturity Age | 18-75 years |
Policy Term | 10 to 30 years |
Mode | Yearly, Half-yearly, Quarterly, and Monthly |
**Last Updated on 04-12-2020
Features:
Kotak Premier Life Plan is a non-linked participating whole life plan that offers life cover till 99 years of age and bonus payments to ensure that all financial needs are taken care of.
Eligibility Criteria:
Entry Age | 3 years – 55 years |
Maturity Age | 99 years |
Policy Term | 99 years less entry age |
Premium Payment Mode | Yearly, Half-yearly, Quarterly, Monthly |
**Last Updated on 04-12-2020
The values may change as per the chosen plan option
Features:
Kotak POS Bachat Bima is a non-linked and non-participating life insurance plan, which offers a simple savings plan with a life cover, along with guaranteed benefits to suit your needs.
Eligibility Criteria:
Entry Age | Min: 12 years, Max: 45 years |
Maturity Age | Min: 28 years, Max: 65 years |
Policy Term (Fixed) | 16 years / 20 years |
Premium Payment Mode | Yearly, Half-yearly, Quarterly, Monthly |
Maximum Basic Sum Assured | 10 Lacs |
**Last Updated on 04-12-2020
Features:
Kotak Premier Pension Plan is a traditional participating pension plan that offers assured benefits on death and vesting. The plan also provides guaranteed additions in the first five policy years.
Eligibility Criteria:
Age criteria | Minimum: 30 years Maximum:
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Basic Sum Assured | Minimum 2 Lacs |
Policy Term |
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Premium Payment Mode | Yearly, Half-yearly, Quarterly, Monthly |
**Last Updated on 04-12-2020
Features:
Kotak Lifetime Income Plan is an immediate annuity non-linked and non-participating plan that provides regular payouts after retirement and serves as a secured alternate source of income.
Eligibility Criteria:
Age criteria | 45 – 99 years |
Annuity Payment Mode | Yearly, Half-yearly, Quarterly, Monthly |
**Last Updated on 04-12-2020
The values may change as per the chosen plan option.
Features:
Kotak Mahindra Life insurance provides a host of professional services for the benefit of its customers. You should buy a Kotak Mahindra life insurance plan because of the following reasons:
There are two ways of buying Kotak Mahindra Life Insurance Plans – Online and Offline.
Online (From PolicyX.com):
Note- Other Kotak Mahindra plans aren't available online.
Offline:
Visit the nearest Kotak Mahindra Life Insurance office and speak with a representative. Choose the desired plan and submit the documents requested by the company. After the payment is done, the soft copy of the policy document will be sent within 48 hours, and the hard copy within 15 days.
Online Filing:
Offline Filing:
Customer Support:
Call on toll-free number 1800 209 8800 (8:00 am to 10:00 pm), and our representative will help you buy the most suitable plan.
WhatsApp us: Get details of your policy on our WhatsApp servicing. Say "Hi" to 93210 03007
Get in touch with us through our Live Chat Option- “KAYA”
You can avail loans up to 80% of Surrender Value subject to a minimum loan amount of Rs. 10,000.
For all policies including those under the Non-Resident Indian Insurance Scheme, the claim amount cannot be repatriated out of India.
Yes, you can surrender your policy before maturity. However, once the surrender value is paid, your policy will get terminated. The surrender value of your policy will solely depend upon the plan and benefits chosen by the policyholder.
The riders available by Kotak Life Insurance are:
A policyholder has the option to return the original policy within 15 days from the date of receipt of the policy. And yes, a free look period is available on all policies.
Last updated on 04-12-2020