Kotak e-term
- Available online
- 3 plan variants
- Life cover options
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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 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:
Minimum Age - 18 years Maximum Age - 60 years
Maximum Maturity Age - 85 years
Minimum term - 10 years Maximum term - 40 years
Basic Sum Assured: ₹51L to No Limit
The policy loan is not available under Kotak e-term Plan.
Single, Yearly, Half-Yearly, Quarterly and Monthly
Let's understand how the Kotak e-Term Plan works with a simple premium illustration.
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.
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.
Here are the benefits associated with the Kotak e-term
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.
You may avail of tax benefits as per the Income Tax Act, 1961 subject to conditions as specified in those sections.
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 option can be exercised anytime during the policy term but shall be effective only from the next premium due date.
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.
You can add the following riders to your Kotak e-term Plan:
Get an extra payout if you are diagnosed with 37 covered critical illnesses.
In case the policyholder gets permanently disabled due to an accident, benefits are paid under this rider.
Here is the list of exclusions associated with the plan:
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.
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