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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 Saral Jeevan Bima
Kotak Saral Jeevan Bima Plan is an individual pure risk plan that offe ...Read More
🛡️ IRDAI Approved
⭐ 4.6/5 · 930 reviews
📊 2.45 solvency ratio
✅ 98.61%% claim settlement ratio
🌐 318+ pan-India
About Kotak Saral Jeevan Bima
A quick read on what this Kotak Life Term Insurance term plan covers and why it might be a fit for you.
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:
- Lower Premium for Females
- Multiple Premium Payment Term
- Instant Issuance
- Tax Benefits As Per Laws
- Life Cover Up To 70 Years
- Death Benefit
Eligibility Criteria for Kotak Saral Jeevan Bima
Entry age
Minimum Age - 18 years Maximum Age - 65 years
Maturity age
Maximum Maturity Age - 70 years
Policy term
Minimum term - 5 years Maximum term - 40 years
Sum assured
Basic Sum Assured: ₹5L to ₹25L
Policy loan
The policy loan is not available under Kotak Saral Jeevan Bima.
Payment Modes
Single, Yearly, Half-Yearly, and Monthly
Pros & cons
A quick honest summary — the strengths and the trade-offs.
Pros
- Death Benefit
- Multiple Premium Payment Term
- Special Rates for Female Lives
Cons
- No Surrender Benefit
- No Maturity Benefit
- No Policy Loan
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- 65 Years
Minimum Sum Assured - ₹5L
Maximum Maturity Age - 70 Yrs
Premium Payment Term - RP/SP/LP
How Does Kotak Sararl Jeevan Bima Work?
Let's understand how the Kotak Sararl Jeevan Bima Plan works with a simple premium illustration.
Problem
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.
Solution
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.
Riders Associated with Kotak Sararl Jeevan Bima Plan
You can add the following riders to your Kotak Life Sararl Jeevan Bima:
Kotak Critical Illness Plus Benefit Rider
Get an extra payout if you are diagnosed with 37 covered critical illnesses.
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.
Features of Kotak Saral Jeevan Bima
Key features that make Kotak Saral Jeevan Bima stand out.
Life Cover
With the Kotak Saral Jeevan Bima Plan, you can stay protected with a life cover up to the age of 70 years.
Easy Enrollment
Kotak Saral Jeevan Bima Plan offers an easy, simplified underwriting process so you can easily enrol in the policy hassle-free.
Tax Benefits
You may avail of tax benefits as per the Income Tax Act, 1961 subject to conditions as specified in those sections.
Special Discounts
Kotak E-term plan offers special premium rates for females
Benefits of Kotak Saral Jeevan Bima
Here are the key benefits of the Kotak Saral Jeevan Bima.
Death Benefit
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.
Discounts
The plan offers a rebate in the premium rate for female policyholders in order to encourage women to invest in the insurance plans.
Premium PaymentOption
The plan offers flexible premium payment options that can be paid annually, half-yearly, quarterly, or monthly.
High Sum Assured
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.
Exclusions of Kotak Sararl Jeevan Bima 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 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.
Frequently Asked Questions
The 3 most-asked questions about Kotak Saral Jeevan Bima, answered.
The policy terminates when: The death benefit has been paid. The policy has passed the revival date.
The plan offers a grace period of 15 days.
No, Kotak Saral Jeevan Bima doesn’t offer any rider benefits.
Written and reviewed by
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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