Kotak Saral Jeevan Bima
- Death Benefit
- Affordable Plan
- Flexible-Premium Payment Modes
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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 a plan that was introduced by the Government of India with an aim to provide insurance coverage even to the person who comes under a lower income group. The plan offers long-term coverage for up to 70 years and has special rates for females. Let us know more about the plan through this article.
Kotak Saral Jeevan Bima Plan offers you a range of benefits including:
Minimum Age - 18 years Maximum Age - 65 years
Maximum Maturity Age - 70 years
Minimum term - 5 years Maximum term - 40 years
Basic Sum Assured: ₹5L to ₹25L
The policy loan is not available under Kotak Saral Jeevan Bima.
Single, Yearly, Half-Yearly, and Monthly
Let's understand how the Kotak Sararl Jeevan Bima Plan works with a simple premium illustration.
Vijay is 30 years old and looking for a term plan that offers long-term life coverage to protect his family financially at affordable premiums.
His financial advisor advised him to buy the Kotak Sararl Jeevan Bima Plan Work. He visited PolicyX.com.
Let's understand how the Kotak Sararl Jeevan Bima Plan works for him with an example.
| Age of policyholder | Monthly Premiums | Annual Premiums | Policy Tenure | Total premiums paid | Sum assured |
| 30 years | ₹664/month | ₹6,968/year | 30 years | ₹2,39,040 | ₹25 Lakhs |
Key Takeaways: If Vijay passes away during the policy term, his family will receive an assured sum amount as a death benefit in a lump sum.
Here are the benefits associated with the Kotak Saral Jeevan Bima
In case of the unfortunate death of the policyholder, the plan will pay a lump sum amount to the beneficiary. The death benefit is calculated based on the highest of 105% of the sum assured.
The plan offers a rebate in the premium rate for female policyholders in order to encourage women to invest in the insurance plans.
The plan offers flexible premium payment options that can be paid annually, half-yearly, quarterly, or monthly.
The plan offers a high sum assured of 25 Lakh, which means that the policyholder can get extensive coverage to fulfill their financial needs in unforeseen situations.
Kotak Life Term Insurance
You can add the following riders to your Kotak Life Sararl Jeevan Bima:
Get an extra payout if you are diagnosed with 37 covered critical illnesses.
In case of the policyholder’s demise due to an accident, additional benefits are paid to their nominee along with the basic plan cover.
Here is the list of exclusions associated with the plan:
Kotak Sararl Jeevan Bima is a life insurance plan that offers death benefits, flexible coverage options, and special rates for females. Policyholders can choose term and payment modes with no surrender value or policy loans. The plan proves itself as a true friend for the person who wishes to buy a term pan but doesn't have a big pocket to pay the premium.
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.
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Bindiya is a seasoned content writer specializing in keeping readers acquainted with the insurance industry, term insurance developments, and life insurance sector shifts. With an experience of 3 years in insurance, Bindiya ensures that her readers stay well informed with the insurance developments and factually correct information.
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