Kotak Saral Jeevan Bima
  • Death Benefit
  • Affordable Plan
  • Flexible-Premium Payment Modes
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Kotak Saral Jeevan Bima

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:

why-choose
  • 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

Your Occupation

Entry age

Minimum Age - 18 years Maximum Age - 65 years

Mukhyamantri Amrutam Yojana

Maturity age

Maximum Maturity Age - 70 years

Your Gender

Policy term

Minimum term - 5 years Maximum term - 40 years

Maternity Benefit Rider

Sum assured

Basic Sum Assured: ₹5L to ₹25L

Dr YSR Aarogyasri Trust

Policy loan

The policy loan is not available under Kotak Saral Jeevan Bima.

Maternity Benefit Rider

Payment modes

Single, Yearly, Half-Yearly, and Monthly

How Does Kotak Sararl Jeevan Bima Work?

Let's understand how the Kotak Sararl Jeevan Bima Plan works with a simple premium illustration.

Why Buy Term Insurance Online?

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.

Benefits of Kotak Saral Jeevan Bima

Here are the benefits associated with the Kotak Saral Jeevan Bima

Maternity Benefit Rider

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.

Maternity Benefit Rider

Discounts

The plan offers a rebate in the premium rate for female policyholders in order to encourage women to invest in the insurance plans.

Maternity Benefit Rider

Premium Payment
Option

The plan offers flexible premium payment options that can be paid annually, half-yearly, quarterly, or monthly.

Maternity Benefit Rider

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.

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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

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

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.

Explore more about Kotak Term Insurance Company

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Kotak Life Term Insurance offers one of the best term insurance plans to cater to the unique needs of every customer. You can buy their term plans with high life cover at pocket-friendly costs. Get a 5% discount for online purchases and 100% claim assistance with Kotak Life Term Insurance plans. Below is the list of term plans offered by Kotak Life.

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

Kotak Saral Jeevan Bima: FAQs

1. How does the Kotak Sararl Jeevan Bima Policy Terminate?

The policy terminates when: The death benefit has been paid. The policy has passed the revival date.

2. What is the Grace Period of this plan

The plan offers a grace period of 15 days.

3. Are there any Rider Benefits offered by the plan?

No, Kotak Saral Jeevan Bima doesn’t offer any rider benefits.

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Bindiya Sinha

Written By: Bindiya Sinha

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.