Kotak Term vs Bajaj Term Insurance Plan

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Kotak Term vs Bajaj Term Insurance Plan

Kotak Term

Kotak Mahindra Life Insurance is one of the fastest growing life insurance companies in India, securing 50 million lives worldwide till date.

Bajaj Term Insurance Plan

Bajaj Life Term Insurance commenced its operations in 2001 and expanded its presence across the country. It serves millions of customers with versatile term plans.

COMPANY DETAILS Edit Kotak Life Term Insurance

Kotak Term

Edit Bajaj Term Insurance

Bajaj Term Insurance Plan

Rating
Number of term insurance plans and add-ons
Annual Premiums Collected (2023-24)

Annual Premiums Collected (2023-24)

15320.46

Annual Premiums Collected (2023-24)

23043.04 cr
Payout Options

Payout Options

Lump sum, monthly, quarterly, half-yearly, yearly or a combination of both

Payout Options

Lump sum, monthly, Lump sum+monthly, Lump sum+increasing monthly payout
Claim ratio

Payout Options

98.82%

Payout Options

99.29%
Solvency Ratio

Solvency Ratio

2.8

Solvency Ratio

3.59
Pan India Presence

Pan India Presence

230+

Pan India Presence

576
Riders Available

Riders Available

Accidental Death Benefit Rider, Critical Illness Plus Benefit Rider, Accidental Permanent Disability Rider

Riders Available

Waiver of Premium Benefit Rider, Family Income Benefit Rider, Accidental Death Benefit Rider, Accidental Permanent Total/Partial Disability Benefit Rider, Critical Illness Rider
Policy Term

Policy Term

5 to 70 years

Policy Term

5 to 40 years
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Kotak Life Term Insurance

Kotak Life Term Insurance

Know More About Companies

Overview

Kotak Life Term Insurance: Overview

Kotak Life is one of the trusted and reliable insurers in the Indian insurance market. Kotak Life offers you a wide range of insurance products to choose from, one such offering by Kotak Life is Kotak Term Insurance Plans. Kotak Term Plans keep your loved ones financially covered in the event of your unfortunate demise. Apart from this, Kotak Life term plans come with affordable premiums, flexibility to customize your plan, critical illness coverage, disability support, tax benefits, survival benefits, whole life cover, and optional riders. 

What are some of the
Benefits
that set them apart?

  • Death benefits,

  • Multiple payout options,

  • Return of premiums with some plans such as Kotak Gen2Gen,

  • Enhanced riders to choose from,

  • Special premiums for non-tobacco users,

  • High cover at affordable premiums,

  • Tax Benefits as per applicable laws,

  • Varied plan options, etc.

Riders

Riders You Can Avail With Kotak Life Term Insurance Plans

You can avail of the following riders with your Kotak term insurance plans:

Name of the Riders Benefits
Kotak Accidental Death Benefit Rider In case of the policyholder’s demise due to an accident, additional benefits are paid to their nominee along with the basic plan cover.
Kotak Critical Illness Plus Benefit Rider In case the policyholder is diagnosed with pre-specified illnesses, benefits are paid to them or their family.
Kotak Accidental Permanent Disability Rider In case the policyholder gets permanently disabled due to an accident, benefits are paid under this rider.

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Kotak Life Term Insurance

Explore India’s best-selling Term insurance plans below

Kotak Mahindra Life Insurance is one of the fastest growing life insurance companies in India, securing 50 million lives worldwide till date.

Kotak Protеct India is an individual non-Linkеd, non-participating purе protеction term Insurancе plan, dеsignеd to offеr policyholdеrs a wid...

Unique Features

  • Short Term Cover
  • Multiple Policies
  • Wellness Program

Kotak Protеct India (Pros)

Kotak Protеct India
  • Short Term Cover
  • Multiple Policies
  • Wellness Program

Kotak Protеct India (Cons)

Kotak Protеct India
  • No Policy Loan Allowed
  • No Cover for Suicide
  • No Survival Benefit

Kotak Protеct India (Other Benefits)

Kotak Protеct India
  • Hospi Benefit
  • Optional Accidental Death Benefit
  • Telemedicine Consultation

Kotak Protеct India (Eligibility Criteria)

Kotak Protеct India
  • Entry Age -18 Years
  • Max Entry Age- 35 Years
  • Minimum Sum Assured - ₹1L
  • Maximum Maturity Age - 40 Yrs
  • Premium Payment Term - RP/SP

Kotak Term Plan is a non-linked non-participating individual pure protection life insurance plan that acts like a safety shiеld for your family's fin...

Unique Features

  • Low-Cost Plan
  • Conversion Option
  • Rider Options

Kotak Term (Pros)

Kotak Term
  • Low-Cost Plan
  • Conversion Option
  • Rider Options

Kotak Term (Cons)

Kotak Term
  • No Policy Loan Allowed
  • No Cover for Suicide
  • No Survival Benefit

Kotak Term (Other Benefits)

Kotak Term
  • Affordable Premiums
  • High Life Cover
  • Premium Payment Options

Kotak Term (Eligibility Criteria)

Kotak Term
  • Entry Age -18 Years
  • Max Entry Age- 60 Years
  • Minimum Sum Assured - ₹3L
  • Maximum Maturity Age - 70 Yrs
  • Premium Payment Term - RP/SP

Kotak Saral Jeevan Bima is a basic term insurance plan that is designed to offer financial protection to your loved ones in case of your demise. This ...

Unique Features

  • Death Benefit
  • Affordable Plan
  • Flexible-Premium Payment Modes

Kotak Saral Jeevan Bima (Pros)

Kotak Saral Jeevan Bima
  • Death Benefit
  • Multiple Premium Payment Term
  • Special Rates for Female Lives

Kotak Saral Jeevan Bima (Cons)

Kotak Saral Jeevan Bima
  • No Surrender Benefit
  • No Maturity Benefit
  • No Policy Loan

Kotak Saral Jeevan Bima (Other Benefits)

Kotak Saral Jeevan Bima
  • Life Cover Up To 70 Years
  • Instant Issuance
  • Tax Benefit

Kotak Saral Jeevan Bima (Eligibility Criteria)

Kotak Saral Jeevan Bima
  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - ₹5L
  • Maximum Maturity Age - 70 Yrs
  • Premium Payment Term - RP/SP/LP

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 offe...

Unique Features

  • Available online
  • 3 plan variants
  • Life cover options

Kotak e-Term (Pros)

Kotak e-Term
  • Available online
  • 3 plan variants
  • Life cover options

Kotak e-Term (Cons)

Kotak e-Term
  • No Policy Loan Allowed
  • No Cover for Suicide
  • No Survival Benefit

Kotak e-Term (Other Benefits)

Kotak e-Term
  • Step-Up Benefit
  • Add-on Riders
  • Special Discounts

Kotak e-Term (Eligibility Criteria)

Kotak e-Term
  • Entry Age -18 Years
  • Max Entry Age- 60 Years
  • Minimum Sum Assured - ₹51L
  • Maximum Maturity Age - 85 Yrs
  • Premium Payment Term - RP/SP/LP

Bajaj Term Insurance

Explore India’s best-selling Term insurance plans below

Bajaj Life Term Insurance commenced its operations in 2001 and expanded its presence across the country. It serves millions of customers with versatile term plans.

Bajaj e-touch is a pure term insurance plan safeguarding you and your loved ones from unforeseen circumstances. The plan is equipped to manage various...

Unique Features

  • High SI Available
  • Accidental Death Benefit
  • Health Management Services

Bajaj Life e-Touch (Pros)

Bajaj Life e-Touch
  • Shield
  • Shied Plus
  • Shield Supreme

Bajaj Life e-Touch (Cons)

Bajaj Life e-Touch
  • No Loans Allowed
  • No Surrender Benefit
  • No Maturity Benefit

Bajaj Life e-Touch (Other Benefits)

Bajaj Life e-Touch
  • Max Sum Assured 2 Cr
  • Sheild Super
  • High Sum Assured Rebate (HSAR)

Bajaj Life e-Touch (Eligibility Criteria)

Bajaj Life e-Touch
  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 50 L
  • Maximum Maturity Age - 75 Yrs
  • Premium Payment Term - 10 to 40 Yrs

Bajaj iSecure is a non-linked, non-participating plan that offers an advanced level of term insurance coverage at a low cost. The plan offers rewards ...

Unique Features

  • 105% Death Benefit
  • Rider Benefit
  • 50 lakhs Max Sum Assured

Bajaj iSecure plan (Pros)

Bajaj iSecure plan
  • No Suicide Cover
  • Healthy Lifestyle Incentives
  • Customizable Options

Bajaj iSecure plan (Cons)

Bajaj iSecure plan
  • No Maturity Benefit
  • Limited Rider Options
  • Limited Availability for POS Channel

Bajaj iSecure plan (Other Benefits)

Bajaj iSecure plan
  • Tax Benefits
  • Premium Payment Options
  • High Sum Assured Rebate (HSAR)

Bajaj iSecure plan (Eligibility Criteria)

Bajaj iSecure plan
  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 2.5 L
  • Maximum Maturity Age - 85 Yrs
  • Premium Payment Term - 10 to 25 Yrs

Bajaj Life Secure is an advanced term insurance plan that offers protection till your 100th birthday. This plan is a non-linked and non-participating ...

Unique Features

  • 3 Plan Options
  • Critical Illness Benefit
  • Waiver Of Premium

Bajaj Life Secure (Pros)

Bajaj Life Secure
  • Surrender Benefit
  • Suicide Cover
  • Choose your Sum Assured

Bajaj Life Secure (Cons)

Bajaj Life Secure
  • No Survival Benefit
  • No Thyroid Cancer Cover
  • No Maturity Benefit

Bajaj Life Secure (Other Benefits)

Bajaj Life Secure
  • Death Benefit
  • Accelerated Critical Illness
  • Waiver of premium Benefit

Bajaj Life Secure (Eligibility Criteria)

Bajaj Life Secure
  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 20 L
  • Maximum Maturity Age - NA
  • Premium Payment Term - 5 7 10 and 15 years

Bajaj Sararl Jeevan Bima is a non-linked, non-participating individual, pure-risk premium life insurance plan designed to provide financial security t...

Unique Features

  • Death Benefit
  • Tax Benefit
  • 25 Lakh Max Sum Assured

Bajaj Saral Jeevan Bima (Pros)

Bajaj Saral Jeevan Bima
  • Spouse Cover
  • Max Sum Assured 25 Lakh
  • Available for Online Buying

Bajaj Saral Jeevan Bima (Cons)

Bajaj Saral Jeevan Bima
  • No Survival Benefit
  • No Surrender Benefit
  • No Maturity Benefit

Bajaj Saral Jeevan Bima (Other Benefits)

Bajaj Saral Jeevan Bima
  • Avail Tax Benefits
  • Easy Claim Settlement Process
  • Flexible-Premium Payment term

Bajaj Saral Jeevan Bima (Eligibility Criteria)

Bajaj Saral Jeevan Bima
  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 5L
  • Maximum Maturity Age - NA
  • Premium Payment Term - RP/SP/LP (5&10 Years)

Bajaj iSecure Loan is a pure protection loan cover term life insurance plan. With a flexible policy term and a minimum sum assured of 3 lacs, you can ...

Unique Features

  • Protection against loan
  • Joint life cover
  • Rider benefits

Bajaj iSecure Loan (Pros)

Bajaj iSecure Loan
  • Suicide Cover
  • Tax benefits
  • Policy Revival within 5 Years

Bajaj iSecure Loan (Cons)

Bajaj iSecure Loan
  • No Survival Benefit
  • No Surrender Benefit
  • No Discount Benefit

Bajaj iSecure Loan (Other Benefits)

Bajaj iSecure Loan
  • Accidental Death Benefit Rider
  • Waiver of Premium Benefit Rider
  • Accidental Permanent Total/Partial Disability Rider

Bajaj iSecure Loan (Eligibility Criteria)

Bajaj iSecure Loan
  • Entry Age -25 Years
  • Max Entry Age- 60 Years
  • Minimum Sum Assured - 3 L
  • Maximum Maturity Age - 65 Yrs
  • Premium Payment Term - 10/ 15/ 20/ 25 years

Most Indians consider insurance an unnecessary expense because they're not sure whether to get life insurance or health insurance. What if we told you...

Unique Features

  • Level Cover Term
  • Terminal Illness Cover
  • Flexible-Premium Payment Term

Bajaj Lifestyle Secure Plan (Pros)

Bajaj Lifestyle Secure Plan
  • Family Cover
  • Choose your Policy Term (PT)
  • Inbuilt Accelerated Terminal Illness

Bajaj Lifestyle Secure Plan (Cons)

Bajaj Lifestyle Secure Plan
  • No Loans Allowed
  • No Surrender Benefit
  • No Maturity Benefit

Bajaj Lifestyle Secure Plan (Other Benefits)

Bajaj Lifestyle Secure Plan
  • Suicide Cover
  • Easy Claim Settlement
  • Policy revival Within 5 Years

Bajaj Lifestyle Secure Plan (Eligibility Criteria)

Bajaj Lifestyle Secure Plan
  • Entry Age -18 Years
  • Max Entry Age- 50 Years
  • Minimum Sum Assured - 3L
  • Maximum Maturity Age - 60 Years
  • Premium Payment Term - 5/ 7/ 10/ 15/ 20 Yrs

Bajaj Life Smart Goal Protect is a comprehensive insurance plan that offers multiple benefits. An economic plan with affordable premium rates, comes i...

Unique Features

  • Critical illnesses covered
  • Return of Premiums
  • 4 Plan variants

Bajaj Life Smart Protect Goal (Pros)

Bajaj Life Smart Protect Goal
  • Critical Illness Benefit
  • Accidental Death Benefit (ADB)
  • Accidental Total Permanent Disability Benefit

Bajaj Life Smart Protect Goal (Cons)

Bajaj Life Smart Protect Goal
  • No Loans Allowed
  • 180 Days WP For Critical Illness
  • No Rebate for SA above 3 cr

Bajaj Life Smart Protect Goal (Other Benefits)

Bajaj Life Smart Protect Goal
  • Suicide Cover After 12 Months
  • Female Life Rebate
  • High Sum Assured Rebate (HSAR)

Bajaj Life Smart Protect Goal (Eligibility Criteria)

Bajaj Life Smart Protect Goal
  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Min Sum Assured - 5 L
  • Max Maturity Age - 75 Yrs(ROP)
  • Premium Payment Term - RP/SP/LP

Bajaj Life Diabetic Term Plan Sub 8 HbA1c is a unique protection plan offering term insurance coverage to pre-diabetics and type 2 diabetic individual...

Unique Features

  • Keep Fit Benefit
  • Health Coaching
  • Second Medical Opinion

Bajaj Diabetic Term (Pros)

Bajaj Diabetic Term
  • Premium Reduction on Renewal
  • Good Health Premium Discounts
  • Health Management Services.

Bajaj Diabetic Term (Cons)

Bajaj Diabetic Term
  • No Maturity Benefit
  • No Surrender Value
  • Limited Coverage With Hba1c Level Above 8%

Bajaj Diabetic Term (Other Benefits)

Bajaj Diabetic Term
  • Tax Benefits Available
  • Flexible Sum Assured Options
  • Multiple Premium Payment Frequencies

Bajaj Diabetic Term (Eligibility Criteria)

Bajaj Diabetic Term
  • Entry Age -30 Years
  • Max Entry Age- 6 Years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 75 Yrs
  • Premium Payment Term - LP

Bajaj iSecure More by Bajaj Life Insurance is an increasing cover term assurance plan. It offers a financial safety net to your loved ones in case of ...

Unique Features

  • Flexible Policy Tenure
  • Option to Avail Joint Life Cover
  • High Sum Assured Rebate

Bajaj iSecure More (Pros)

Bajaj iSecure More
  • 7 Plan Options
  • Cover Continuance Benefit
  • Inbuilt Terminal Illness Cover

Bajaj iSecure More (Cons)

Bajaj iSecure More
  • 1 year WP for suicide
  • No policy loan
  • No whole life coverage

Bajaj iSecure More (Other Benefits)

Bajaj iSecure More
  • Death Benefits
  • Increasing Sum Assured
  • Tax Rebates

Bajaj iSecure More (Eligibility Criteria)

Bajaj iSecure More
  • Entry age - 18 years
  • Max entry age - 60 years
  • Min sum assured - Rs 2.5 lakhs
  • Max maturity age - 70 years
  • PPT - Same as policy term

‘A woman who takes care of everyone in the family deserves a comprehensive solution that provides her protection.’ Bajaj Life Superwoman T...

Unique Features

  • Critical Illness Cover
  • Free Health Management Services
  • Child Care Benefit

Bajaj Superwoman Term Plan (Pros)

Bajaj Superwoman Term Plan
  • Critical Illness Cover
  • Free Health Management Services
  • Child Care Benefit

Bajaj Superwoman Term Plan (Cons)

Bajaj Superwoman Term Plan
  • 1 year waiting period for suicide
  • No policy loan
  • No pre-existing illness cover

Bajaj Superwoman Term Plan (Other Benefits)

Bajaj Superwoman Term Plan
  • Death Benefits
  • Terminal Illness
  • Benefit Waiver of Premium

Bajaj Superwoman Term Plan (Eligibility Criteria)

Bajaj Superwoman Term Plan
  • Entry age - 18 years
  • Max entry age - 60 years
  • Min sum assured - Rs 50 lakhs
  • Max maturity age - 99 years
  • PPT - RP/SP/LP
Naval Goel

Reviewed By: Naval Goel

Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.