Kotak Mahindra vs Ageas Federal
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Kotak Mahindra Life vs Ageas Federal Life Insurance 2024

Kotak Mahindra and Ageas Federal both are one of the top life insurance providers in India. Both the companies offer comprehensive life insurance plans offering life cover from 10 to 99 years of age. The product portfolio of both of them is vast and caters to unique needs of the customers. The claim settlement ratio of Kotak Mahindra is 98.82% whereas Ageas Federal has 97.03% CSR for the FY 2022-23. The companies provide benefits such as high sum assured, flexible premiums, customizable coverage, rider benefits, options for premium payment terms, maturity benefits, online discounts, non-smoker discounts and various plan options to choose from.

PLAN DETAILS Edit Kotak Mahindra

Kotak Mahindra

Edit ageas-federal-life

Ageas Federal

Number of life insurance plans and add-ons
Entry Age (Min-Max) 18-65 years 18-65 years
Policy Term 10-25 year 5-40 years
maturity Age (Min-Max) 70 years 10-75 years
Claim settlement ratio (CSR) 98.82% 97.03%
Asset under managment (AUM) 286000 Crores 12011 Crores
Solvency ratio 2.6 3.1
Policy Type
  • Term insurance
  • Whole life policy
  • Endowment policy
  • ULIP
  • Money back policy
  • Retirement plans
  • Savings plans
  • Child plans
  • Group Insurance plan
  • Term insurance
  • Endowment policy
  • ULIP
  • Money back policy
  • Retirement plans
  • Savings plans
  • Child plans
  • Group Insurance plan
Coverage Amount
  • Minimum- 3 Lakh
  • Maximum- No Limit
  • Minimum- 2 Lakh
  • Maximum- 50 Lakh
Optional Additional Riders
  • Critical illness rider
  • Waiver of premium rider
  • Accidental death benefit rider
  • Accidental disability benefit rider
  • Income benefit rider
  • Critical illness rider
  • Waiver of premium rider
  • Accidental death benefit rider
  • Accidental disability benefit rider
  • Income benefit rider
Number of term plans 5 4
Exclusions Suicide or self inflicted Injury Suicide or self inflicted Injury
Death Benefit Yes Yes
Survival Benefit Yes Yes
Claims procedure Both (Online+offline) Both (Online+offline)
Type of the insurer Private Private
Online buying facility for life plans Yes Yes
Premium payment options Single/limited/Regular Single/limited/Regular
Online claim facility Yes Yes

Life Insurance Companies

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Kotak Term Insurance Plans

Kotak Term Plan

The Kotak Term Plan is a pure risk cover plan at affordable prices. . It comes with a plan conversion feature along with flexible premium payment options.

Unique Features

  • Convert to any other plan
  • Discounts for females
  • Tax Benefits

Kotak Term Plan (Pros)

  • Surrender Value
  • Critical Illness Benefit Rider
  • Max Sum Assured 25 L

Kotak Term Plan (Cons)

  • No Conversion in Last 5 Years
  • No Maturity Benefit
  • No Loan Benefit

Kotak Term Plan (Other Benefits)

  • Suicide Cover
  • Accidental Death Benefit Rider
  • Permanent Disability Benefit Rider

Kotak Term Plan (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 3 L
  • Maximum Maturity Age - 70 Years
  • Premium Payment Term - 5 To 30 Yrs

Kotak e-Term Plan is a Pure Protection Plan. It offers special premium rates to non-tobacco users and women and has multiple plan options with additional riders.

Unique Features

  • Multiple plan options available
  • Three payout options available
  • Increase or decrease life cover

Kotak e-Term Plan (Pros)

  • Permanent Disability Benefit Rider
  • Critical Illness Plus Benefit Rider
  • Special Rates for Non-Tobacco Users

Kotak e-Term Plan (Cons)

  • Strict Qualifications On Disability
  • Limited Coverage
  • No Policy Loan Allowed

Kotak e-Term Plan (Other Benefits)

  • Death Benefit
  • Additional Premium Discounts
  • Enhanced Accidental Death Coverage

Kotak e-Term Plan (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 75 Yrs
  • Premium Payment Term - RP/SP/LP

Kotak Saral Jeevan Bima

A Pure Risk Plan that offers financial security to your family and offers long-term coverage for 70 years with special premium rates for women.

Unique Features

  • Hassle-free life insurance cover
  • Coverage up to 70 years
  • Special rates for female lives

Saral Jeevan Bima (Pros)

  • Policy Term 5 to 40 Years
  • Choose To Pay Premium Once
  • Max Sum Assured 25 L

Saral Jeevan Bima (Cons)

  • No Survival Benefit
  • No Maturity Benefit
  • No Surrender Benefit

Saral Jeevan Bima (Other Benefits)

  • Suicide Cover
  • Spouse Cover
  • Policy Revival Within 5 Years

Saral Jeevan Bima (Eligibility Criteria)

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

Ageas Federal Term Insurance Plans

IDBI Federal Life Income Protect Plan

The plan comes with a lump sum benefit on the demise of the policyholder and increasing monthly income benefit.

Unique Features

  • Monthly Income Benefit
  • 2 Types of Death Benefit
  • Choose Premium Payment Term

Income Protect Plan (Pros)

  • Secured Income For 10 Years
  • Life Cover For 20 Years
  • No Limit on Max Monthly Income

Income Protect Plan (Cons)

  • Fixed Policy Payment Option
  • No Survival Benefit
  • No HIV/AIDS Cover

Income Protect Plan (Other Benefits)

  • 15 Days Free Look Period
  • Suicide Cover After 1 Yr
  • Total and Permanent Disablement Benefit

Income Protect Plan (Eligibility Criteria)

  • Entry Age -25 Years
  • Max Entry Age- 60 Years
  • Min Sum Assured - 15 K per month
  • Max Maturity Age - 70 Yrs
  • Premium Payment Term - Fixed 10 Years

IDBI Federal Life My Life Protection Plan

An affordable pure protection plan that has 3 plan options to provide comprehensive coverage and offers discounts to female and marathon runners.

Unique Features

  • 3 life cover options
  • Accidental Death Benefit
  • Discounts for marathon runners

My Life Protection Plan (Pros)

  • 105% Death Benefit
  • Discount For Non-Tobacco Users
  • Coverage Booster Option Upto 150%

My Life Protection Plan (Cons)

  • No Maturity Benefit
  • No Loans Allowed
  • No Surrender Benefit For RP

My Life Protection Plan (Other Benefits)

  • Suicide Cover
  • Plan Available Online
  • Discounts for Females & Marathon Runners

My Life Protection Plan (Eligibility Criteria)

  • Entry Age -21 Years
  • Max Entry Age- 60 Years
  • Minimum Sum Assured - 50 L
  • Maximum Maturity Age - 85 Yrs
  • Premium Payment Term - RP/SP/LP(7&10 Years)

IDBI Federal Life Protection Plan

An economical term insurance plan with a maturity benefit, high sum assured, and flexible premium payment options.

Unique Features

  • Multiple cover options
  • Flexible policy term
  • ROP on Maturity Option

Life Protection Plan (Pros)

  • Highly Customizable Plan
  • Suicide Cover After 12 Months
  • Flexibility in Premium Payment Options

Life Protection Plan (Cons)

  • No Loans Allowed
  • No Accidental Death Benefit
  • No Policy Loan Allowed

Life Protection Plan (Other Benefits)

  • Premium Discount For Females
  • High Sum Assured Discount
  • Surrender Benefit

Life Protection Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 60 Years
  • Minimum Sum Assured - 5L
  • Maximum Maturity Age - 70 Yrs
  • Premium Payment Term -SP & RP

IDBI Federal Life Saral Jeevan Bima

An ideal comprehensive life insurance protection plan with life cover to provide financial security to your family, flexible premium payment, and tax benefits.

Unique Features

  • Avail death benefit
  • Flexible premium payment
  • Discounts for females

Saral Jeevan Bima (Pros)

  • Available For Online Buying
  • Max Sum Assured 50L
  • Choose To pay Premium Once

Saral Jeevan Bima (Cons)

  • No Maturity Benefit
  • No Survival Benefit
  • No Surrender Benefit

Saral Jeevan Bima (Other Benefits)

  • Suicide Cover
  • Spouse Cover
  • Policy Revival Within 5 Years

Saral Jeevan Bima (Eligibility Criteria)

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

Life Insurance Articles

Life Insurance FAQs

Life Insurance FAQsSeptember, 2021

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.