Kotak e-Term Plan

Kotak e-Term Plan

Individual Non-Linked Non-Par Pure Protection Life Insurance Plan

Your family is your first priority. You strive to provide comfort, happiness, and security to your family and you would want your family's future to be secured at all times. Even when you are not around you want to ensure you have secured their financial future. Kotak e-Term Plan has been specially designed to let you give that assurance to your family.

Kotak e-Term Plan is a pure risk cover term 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. In the event of death of the life insured during the term, the beneficiary would receive Death Benefit as per plan option selected.

Kotak e-Term Plan also offers the option to enhance your coverage against accidental death, total and permanent disability. Further, you can also choose additional cover through Kotak Permanent Disability Benefit Rider and Kotak Critical Illness Plus Benefit Rider on payment of additional premiums, therefore ensuring a complete cover against the unfortunate eventualities.

Key features

Low Cost Insurance

Offers the benefit of high cover at economical prices

Multiple Plan Options

Choose between Life, Life Plus or Life Secure option to ensure you have an ideal cover to secure your family:

i. Life Option - 100% of Sum Assured on death shall be payable.

ii. Life Plus Option - 100% of Sum Assured on Death shall be payable Plus Accidental Death Benefit, subject to a maximum of Rs. 1 crore, in case death happens due to an accident.

iii. Life Secure Option - All future premiums shall be waived off in case the policyholder becomes totally permanently disabled. The death benefit under the plan shall continue to be in force for the remaining policy term and on death, 100% of Sum Assured on Death shall be payable.

Three Pay-out Options

Choose between Immediate, Level Recurring or Increasing Recurring Payout basis your family's requirement.

i. Immediate Pay-out:100% of the Sum Assured on Death shall be payable as a lump sum immediately on the death of the Life Insured and the policy shall be terminated.

ii. Level Recurring Pay-out:10% of Sum Assured on Death shall be paid immediately at the time of claim settlement & 6% of Sum Assured on Death shall be payable as annual installments at the end of every year for 15 years; the first payment being made one year after the date of death of the life insured.

iii. Increasing Recurring Pay-out:10% of Sum Assured on death shall be paid immediately at the time of claim settlement & 6% of Sum Assured on Death shall be payable at the end of 1st year from the date of death post which the payout shall increase by 10% (Simple Interest Rate) every year. These installments shall be payable at the end of every year for 15 years starting from one year after the date of death.

For Level Recurring Payout and Increasing Recurring Payout there is an option to receive the annual payment in monthly mode. Monthly payments shall be 8.22% of the Annual Payments. The first payment shall start from one month after the date of death of the life insured.

Step Up/Down options

Increase or decrease your life cover basis on various life stages**

Customize Protection With Riders

Enhance your coverage with Kotak Critical Illness Plus Benefit Rider or /and Kotak Permanent Disability Benefit Rider

Eligibility

Age Criteria
Entry Age:

Minimum : 18 years

Maximum :

65 years (Except for Limited Pay - "Pay till 60 Years")
50 Years (For Limited Pay - "Pay till 60 Years")

Maturity Age: Minimum - 23 years | Maximum - 75 years

Premium Payment Term /Policy Term

Regular Pay



Limited Pay



Single Pay



Basic Sum Assured
Minimum - Rs 25, 00,000
Maximum - No limit, Subject to Underwriting. However Accidental Death
Benefit payable under Life Plus Option shall be subject to a maximum
of Rs 1 Crore

Premium
Minimum - Will be determined based on the Age, Gender & Lifestyle (Tobacco / Non-Tobacco user) of the Life Insured along with Plan Option, Payout Option, Policy Term, Premium Payment Term and the Basic Sum Assured opted for the policy
Maximum - No limit but subject to underwriting consideration

Premium Payment Term (PPT)
Regular Pay: Equal to Policy Term
Limited Pay: 5 / 7 / 10/ 15 pay#
Single Pay: Single payment

Premium Payment Option
Regular, Limited & Single Pay

Premium Payment Mode
Yearly, Half- Yearly, Quarterly and Monthly##

Modal Factor (% of annual premium)
The following modal loading will be used to calculate the instalment Premium:
Yearly - 100% of Annual Premium | Half yearly - 51% of Annual Premium | Quarterly - 26% of Annual Premium | Monthly - 8.8% of Annual Premium