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Kotak e-Term Plan
Kotak e-Term Plan offers high life cover at affordable premiums with special rates for women and non-tobacco users. The plan also includes optional ri...
Unique Features
- Available online
- 3 plan variants
- Life cover options
Kotak Life Term Insurance
Kotak e-Term Plan
You can buy the Kotak e-Term Plan online without any hassles. This pla ...Read More
🛡️ IRDAI Approved
⭐ 4.6/5 · 930 reviews
📊 2.45 solvency ratio
✅ 98.61%% claim settlement ratio
🌐 318+ pan-India
About Kotak e-Term Plan
A quick read on what this Kotak Life Term Insurance term plan covers and why it might be a fit for you.
Kotak e-Term Plan offers high life cover at affordable premiums with special rates for women and non-tobacco users. The plan also includes optional riders for extra protection against critical illness, accident, and disability. It offers special premium rates to non-tobacco users and women. You can also choose additional cover through optional riders available along with the plan, thereby, ensuring complete cover against unfortunate eventualities.
Kotak e-term plan is a pure risk term insurance plan providing your family and loved ones with financial protection in the face of adversity. Kotak e-term plan offers multiple plan options namely life, life plus, and Life Secure. Kotak Life e-term plan also offers the option of Increasing or decreasing life cover based on various life stages.
Kotak e-Term Plan offers you a range of benefits including:
- 3 Plan Options
- Multiple Payout Options
- Step-Up Option
- Tax Benefits As Per Laws
- Lower Premium for Female Lives
- Inbuilt Wellness Benefits
Eligibility Criteria for Kotak e-Term Plan
Entry age
Minimum Age - 18 years Maximum Age - 60 years
Maturity age
Maximum Maturity Age - 85 years
Policy term
Minimum term - 10 years Maximum term - 40 years
Sum assured
Basic Sum Assured: ₹51L to No Limit
Policy loan
The policy loan is not available under Kotak e-term Plan.
Payment Modes
Single, Yearly, Half-Yearly, Quarterly and Monthly
Pros & cons
A quick honest summary — the strengths and the trade-offs.
Pros
- Available online
- 3 plan variants
- Life cover options
Cons
- No Policy Loan Allowed
- No Cover for Suicide
- No Survival Benefit
Video reviews
Walkthroughs from the PolicyX team — pros, cons, real claim experiences and who should buy.
Kotak Life Term Insurance
Kotak Life Term Insurance has stood as one of the most reliable life insurers in India. It offers complete life insurance solutions which consist of Term Insurance plans as well. The term insurance plans by Kotak Life Insurance are affordable and flexible. The customers get to choose their own coverage, premium payouts, and policy tenures.
Who can buy this plan
Eligibility criteria pulled straight from the policy wording.
Entry Age -18 Years
Max Entry Age- 60 Years
Minimum Sum Assured - ₹51L
Maximum Maturity Age - 85 Yrs
Premium Payment Term - RP/SP/LP
How Does Kotak e-Term Plan Work?
Let's understand how the Kotak e-Term Plan works with a simple premium illustration.
Problem
Rajesh, who is 30 years old, is looking for a term plan that provides a step-up benefit to enhance his base cover in essential life milestones.
Solution
His financial advisor advised him to buy the Kotak e-Term Plan Work. He visited PolicyX.com.
Let's understand how the Kotak e-Term Plan works for him with an example.
| Age of policyholder | Monthly Premiums | Annual Premiums | Policy Tenure | Total premiums paid | Sum assured |
| 30 years | ₹1,154/month | ₹13,848/year | 30 years | ₹4,15,440 | ₹1 Crore |
Key Takeaways: In the 10th policy year, he got married, opted for a step-up benefit and increased his base sum assured by 50%. On his unfortunate demise during the policy term, his wife will receive an increased sum assured amount as a death benefit.
Riders Associated with Kotak e-term Plan
You can add the following riders to your Kotak e-term Plan:
Kotak Critical Illness Plus Benefit Rider
Get an extra payout if you are diagnosed with 37 covered critical illnesses.
Kotak Permanent Disability Benefit Rider
In case the policyholder gets permanently disabled due to an accident, benefits are paid under this rider.
Features of Kotak e-Term Plan
Key features that make Kotak e-Term Plan stand out.
Multiple Plan Options
It offers a choice of 3 plan options that allow you to select a level of protection: Life, Life Plus, and Life Secure Option.
Affordable Insurance
Under the Kotak e-term plan the benefit of high cover is offered at economical prices.
Flexible Payout Options
Under Kotak E-term plan policyholders get the choice of three payout options. You can choose between intermediate, level recurring, or increasing recurring payout on the basis of your family’s requirements.
Special Discounts
Kotak E-term plan offers special premium rates for non-smokers and females
Enhance Your Cover
Kotak e-term plan offers an increase or decrease in cover at specific events of life through the Step-Up option.
Kotak e-term Plan Options
There are a total of 3 plan options available under the Kotak Life e-term Plan. All these options offer different types of features. Given below is a brief overview of all these plan options. You may select any one of the 3 plan options available under this plan at inception based on your requirements. Once the plan option is chosen, the same cannot be changed during the policy term.
- Life Option Variant: Kotak E-term Life variant offers a sum assured on death to the nominee.
- Life Plus Variant: Kotak E-term Life Plus variant offers benefits under Life Option + Accidental Death Benefit.
- Life Secure Variant: Kotak E-term Life Secure variant offers benefits under Life Option + Waiver of Premium on total and permanent disability.
Benefits of Kotak e-Term Plan
Here are the key benefits of the Kotak e-Term Plan.
Death Benefit
In case of an unfortunate event of death of the life insured during the policy term, the benefit payout shall be payable to the nominee, and it may vary based on the plan options.
Tax Benefits
You may avail of tax benefits as per the Income Tax Act, 1961 subject to conditions as specified in those sections.
Step-Up Benefit
Under regular premium paying policies, you can go for the step-up option at the time of purchasing the policy. It guarantees you additional insurance cover at specific important stages in your life in a cost-effective and hassle-free manner.
Step-Down Benefit
Step-Down option can be exercised anytime during the policy term but shall be effective only from the next premium due date.
Rider Benefit
With Kotak's e-term plan, you can enhance your base cover with add-on riders. The plan includes two optional riders: Critical Illness Plus Benefit Rider and Accidental Permanent Disability Rider.
What are the exclusions of Kotak e-Term Plan
Here is the list of exclusions associated with the plan:
- Death occurred due to a pandemic is not covered by the company.
- Death caused due to any type of adventure sports.
- Death by consumption of any type of drugs and alcohol.
- Death due to any pre-existing disease that isn't mentioned during the start of the policy.
- If a policyholder commits suicide within first 12 months of purchasing the policy, then no death benefits are paid to their nominee.
Conclusion
Kotak's e-term plan is one of the best term insurance plan that offers you pure protection up to the age of 85 years. The plan allows you to customize your plan based on your needs with 3 plan options and multiple payout options. If you want to know more about the plan or compare different plans, you can easily contact us through the website policyx.com or call us at 1800-4200-269.
Conclusion
Kotak s e-term plan is one of the best term insurance plan that offers you pure protection up to the
Frequently Asked Questions
The 8 most-asked questions about Kotak e-Term Plan, answered.
Kotak e-term plan is a pure protection term insurance plan. It has been specially designed to provide the needed assurance and financial protection to your family. This plan offers the option to enhance your coverage against Accidental Death, Total and Permanent Disability. Further, you can also choose additional cover through Permanent Disability Benefit Rider and Critical Illness Plus Benefit Rider on payment of additional premiums, therefore ensuring a complete cover against unfortunate eventualities.
The entry age for Kotak’s e-term plan is a minimum - of 18 years and a maximum - of 65 years.
Yes, kotak e-term plan covers all claims arising out of the death of the insured due to COVID-19.
There would be an additional discount of 5% in the 1st policy year, applicable for individual life insured under existing policies, members of group policyholders, and employees of Kotak Group who wish to purchase this plan through any distribution channel.
Kotak e-term plan offers rider benefits to the policyholder. Kotak Critical Illness Plus Benefit Rider: Rider Sum Assured shall be payable on the admission of a claim on any one of the 37 covered critical illness Kotak Permanent Disability Benefit Rider: 120% of the Rider Sum Assured shall be payable over a period of 5 years.
Yes, there are wellness benefits included with Kotak e-Term. It includes a Wellbeing App: telemedicine, lifestyle programs, emergency services, home care, pharmacy access, and free medical checkups every five years.
You can choose to pay your yearly, half-yearly, monthly, or quarterly.
Yes, you can change your payout option from monthly to annual during the policy anniversary.
Written and reviewed by
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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