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Kotak e-Term Plan

Individual Non-Linked Non-Par Pure Protection Life Insurance PlanYour 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 Advantages

    • 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:
      • Life Option – 100% of Sum Assured on death shall be payable.
      • 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.
      • 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.
      • 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.
      • 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.
      • 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
      Premium Payment Term Policy Term
      Same as Policy Term Min: 5 Years | Max: 40 Years or 75 Minus Age at Entry
      LimitedPay
      Premium Payment Term Policy Term
      5 Pay Min: 10 Years | Max: 40 Years or 75 Minus Age at Entry
      7 Pay Min: 12 Years | Max: 40 Years or 75 Minus Age at Entry
      10 Pay Min: 15 Years | Max: 40 Years or 75 Minus Age at Entry
      15 Pay Min: 20 Years | Max: 40 Years or 75 Minus Age at Entry
      Pay till 60 Years (Minimum Premium Payment Term of 10 Years) Min: 15 Years | Max: 40 Years or 75 Minus Age at Entry
      Single Pay
      Premium Payment Term Policy Term
      One Time Payment Min: 5 Years | Max: 40 Years or 75 Minus Age at Entry
      -7 and 15 Pay shall not be applicable for Online Channel

    • Basic Sum Assured

      • Minimum – Rs 25, 00,000
      • Maximum – No limit, Subject to Underwriting. However Accidental DeathBenefit 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
      • Note: Preferred rates will be applicable for females and non-smokers

    • 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

Additional Protection with Optional Riders

    • Kotak Permanent Disability Benefit Rider***

      In case the Life Insured becomes permanently disabled due to an accident during the policy term, 120% of the Rider Sum Assured shall be payable over 5 years, while the base plan continues for the remaining policy term.

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    • Kotak Critical Illness Plus Benefit Rider

      Rider Sum Assured shall be payable in part or whole, in case the Life Insured is diagnosed with any one of the 37 Critical Illnesses (subject to terms and conditions)

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