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Kotak Term Plan/Kotak Preferred Term Plan

 
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Term Insurance
Life Insurance> Individual Insurance Plans> Protection Plans> Kotak Term Plan/Kotak Preferred Term Plan

Term Insurance
Overview
You want to see your family secure and happy at all times. However, life is unpredictable. To protect your loved ones from the uncertainties of life should anything unfortunate happen to you and ensure that they are able to cope with the financial obligations, Kotak Life Insurance has designed Kotak Term Plan/Kotak Preferred Term Plan.
  Why an ideal plan
Kotak Term Plan/Kotak Preferred Term Plan is a pure risk cover plan and truly an economical means of providing you with a high level of financial protection, offering further reduced premiums for women. Kotak Preferred Term Plan offers special premium rates to non-consumers of tobacco, for a sum assured of Rs. 25 lakhs or more.
In the event of death of the life insured during the term, the beneficiary would receive the Sum Assured^ as a lump sum. It is a non-participating plan with no maturity benefits payable.
^The death benefit payable would be Sum Assured less the balance of the premium (if any) payable in the year of death.
  Advantages
  • A truly low-cost insurance plan that offers high cover at low term insurance premiums
  • Regular and single premium payment options
  • Option to convert to any other plan
 Key Features
Low cost insurance plan
Kotak Term Plan/Kotak Preferred Term Plan offers the benefit of having a high life insurance cover at economical prices. The plans offer reduced premiums for women. Furthermore, in Kotak Preferred Term Plan, for Sum Assured of Rs.25 lakhs and above, special premium rates are offered to non-consumers of tobacco.
Now you can get life cover of Rs.15 lakhs under Kotak Term Plan for a premium of Rs.199* per month only and a cover of Rs.50 lakhs under Kotak Preferred Term Plan for a premium of only Rs.465* per month!
*The premium stated is for a 30 year old healthy male (a non consumer of tobacco for Kotak Preferred Term Plan) for a term of 10 years, exclusive of Service Tax.
Plan Conversion Option
You may convert your Kotak Term Plan/Kotak Preferred Term Plan policy to a policy of any other plan offered by Kotak Life Insurance (except for term plans) provided there are at least 5 years remaining before the cover ceases.
Premium Payment Options
You have the premium payment options of Single and Regular pay.
If you opt for regular premium payment option, you can pay your premiums annually, half yearly, quarterly or monthly.
 Value Adds
You may avail of the following non-participating value-adds for a nominal additional premium at the time of taking your policy if you have selected regular term insurance premium payment option, subject to aggregate premium on all value-adds (except Kotak Critical Illness Benefit) not exceeding 30% of the premium for your Kotak Term Plan/Kotak Preferred Term Plan policy
  • Kotak Accidental Death Benefit (ADB)
  • Kotak Permanent Disability Benefit (PDB)
  • Kotak Critical Illness Benefit (CIB)
For more details on rider options and rider exclusions kindly refer to the ‘Riders’ brochure.
 Tax Benefits
You can avail of tax benefits under Section 80C and Section 10 (10D) of the Income Tax Act, 1961. Premiums paid for Kotak Critical Illness Benefit (CIB) qualify for a deduction under Section 80D. Tax benefits are subject to change in the tax laws. You are advised to consult your tax advisor for details.
Kotak Term Plan UIN No.: 107N005V04, Form No. N005, Kotak Preferred Term Plan UIN: 107N009V04, Form No. N009, ADB - 107C001V01, Form No. C001 PDB - 107C002V01, Form No. C002, CIB - 107C004V02, Form No. C004
Insurance is a subject matter of solicitation. For more details on risk factors, terms and conditions please download the product brochure.
Ref No: KLI/10-11/E-WEB/67
Regn. No.: 107,
Regd. Office:
Kotak Mahindra Old Mutual Life Insurance Ltd.
4th Floor, Vinay Bhavya Complex,
159 A, C.S.T. Road, Kalina,
Santacruz (East),
Mumbai - 400 098

Website: http://insurance.kotak.com
Email: lifeexpert@kotak.com.
SMS KLIFE to 5676788 Toll Free No. – 1800 209 8800
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Kotak Mahindra Old Mutual Life Insurance Ltd. A joint venture between Kotak Mahindra Bank Ltd. and Old Mutual plc.
4th Floor, Vinay Bhavya Complex, 159 A, CST Road, Kalina, Santacruz (E), Mumbai - 400 098

All rights reserved. Registered with Insurance Regulatory & Development Authority (IRDA) as Life Insurance Company. Regn. No. 107.
Insurance is the subject matter of the solicitation
Tax benefits available with life insurance are as per the Income Tax Act, 1961, and are subject to amendments made thereto from time to time.
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.