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Life Insurance> Individual Insurance Plan> Protection Plans
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Kotak Saral Suraksha  |
| Kotak Saral Suraksha can help your family during their time of need. It is a low cost term plan designed with the objective of providing protection to your family. In case of your sad demise during the policy term, your family will be paid the Sum Assured thus ensuring their financial security. |
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| An Introduction to Protection Plans |
 Securing your family’s wellbeing is one of the most important goals of life. Insurance Protection plans help you secure your loved one’s future against life’s uncertainties and put them on a safe track.
Your untimely death can cause a major setback to your family, both emotionally as well as financially, especially if you are the sole breadwinner. With a term life insurance policy , you can ensure your family’s financial independence in case anything untoward happens to you. Besides, term plans are cost-effective too, as they focus on providing only life cover and no returns.
A Term life insurance policy, thus, sets you free from the worries of what will happen to your loved ones in your absence, letting your family and you enjoy life with peace of mind.
With protection plans you can give your family - |
- Financial security.
- Emotional wellbeing.
- Freedom from the burden of debt.
- Guarantee of a life with dignity and self-respect.
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Protect first, build next…
Protecting your future against misfortune should be the first step in financial planning. Once you have secured the future well, you can then look at creating an investment portfolio that will let you achieve your financial goals. In other words, you should first take care of your protection needs before you set aside funds for savings, investments or expenditure. |
Reaching an optimum insurance cover
| To enjoy an insurance cover wherein you are not under-insured, you need to know your human life value. Simply put, human life value would provide an estimated figure of the financial amount your family would require to meet their expenses and liabilities, in case something unfortunate was to happen to you. |
| To know your human life value, click here. |
Do not postpone for tomorrow
 Though the premium payable on term plans is considerably lower vis-à-vis other life insurance, the premium differs with age. As the age increases, so does the cost of policy.
The following table depicts the premium payable by two non-smoking individuals (males) of different ages to avail of a term cover of 25 lakh for 15 years. |
| Age |
Insurance cover () |
Term (years) |
Premium payable () |
| 30 years |
25 lakh |
15 |
3,557 |
| 40 years |
25 lakh |
15 |
6,011 |
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| For the same insurance cover, the younger person pays lesser premium. The earlier you start the better. |
Choosing protection plans
| Through term plans the biggest gift that you and your family receive is the freedom from financial worries. A term plan enables you to give your family: |
 Financial security |
| Your untimely death may deprive your dependants of emotional security. But, your timely and wise decision of choosing a term plan will surely not rob them of financial stability, even when you are no longer around. |
 A debt-free existence |
 You wouldn’t want to burden your family with the responsibility of repaying your loans, should anything unfortunate happen to you. Don’t let misfortune snatch away your family’s happiness. In case of your untimely death, the benefits under your loan protection plan would be sufficient enough for repaying your loans, including your home loan. With a home loan protection plan, you can ensure that your family continues to own the house that you so fondly purchased for them. |
 Freedom to live your dreams |
| You wouldn’t want anything to come in between your dear ones and their dreams. With term plans in place, you can be assured that they continue to enjoy financial independence and live their dreams, even if you are not around to support them. |
 Enhanced protection through riders |
| Riders enhance your insurance cover and are optional benefits that you may add to your term plan policy. You can avail of the following riders – |
- Kotak Critical Illness Benefit
This rider lets you enjoy greater financial stability against chronic diseases such as heart attacks, cancer, stroke, Coronary Artery By-pass Graft (CABG) surgery, kidney failure, major organ transplants, paralysis, loss of limbs, aorta surgery, major burns, heart valve surgery and blindness.
- Kotak Accidental Death Benefit
Opting for this rider can render enhanced financial security to your loved ones. In the event of your unfortunate demise arising due to an accident during the term of the insurance policy, an additional amount (Kotak Accidental Death Benefit Sum Assured) is payable.
- Kotak Permanent Disability Benefit
This benefit provides basic sum assured to the life insured person in case he/she becomes totally and permanently disabled due to an accident.
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 Tax benefits |
| Investment in life insurance plans can let you enjoy tax benefits under Section 80C and 10(10D) of Income Tax Act, 1961. As per section 80C premium paid up to Rs 1 lakh (provided the premium paid is less than or equal to 20 per cent of the sum assured on the policy) can be deducted from your taxable income. Under section 10(10D), the life insurance proceeds receivable does not attract any tax in the hands of the recipients. |
 Get more for less |
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How to buy a protection plan
- Click on the protection plan of your choice to know more about the plan
- If further information is required, plan brochure and premium calculator is available for reference.
- Click on "send me a life advisor" in order to contact an expert advisor who will guide you in the buying process.
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| DisclaimerInsurance is the subject matter of the solicitation. Kotak Term Plan UIN No.: 107N005V04, Form No. N005. Kotak Term Plan is a non-unit linked, non - participating plan. Kotak Preferred Term Plan UIN No.:107N009V04, Form No. N009. Kotak Preferred Term Plan is a non-unit linked, non - participating plan. For more details on risk factors, terms and conditions please download and consult the product brochure. Kotak Mahindra Old Mutual Life Insurance Ltd. Regn No. 107. 9th floor, Godrej Coliseum, Behind Everard Nagar, Sion (E), Mumbai - 400 022 Toll Free No. - 1800 209 8800. Kotak Mahindra bank Ltd (License No. 1144761) is a Corporate Agent of Kotak Mahindra Old Mutual life Insurance Ltd. The contract of Insurance is between the Kotak Mahindra Old Mutual Life Insurance Ltd. and the Life Insured. Tax benefits are subject to change in tax laws. You are advised to consult your tax advisor for details. Reference Number KLI/10-11/E-WEB/162 |
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