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Kotak Life

Kotak e-Term Insurance

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Kotak e-Term Plan – a specially designed pure risk cover plan that provides protection to your loved ones. It is truly an economical means of providing high level of protection. This plan offers special premium rates to non tobacco users and women.

This plan offers the option to enhance your coverage against Accidental Death, Total and Permanent Disability. Further, you can also choose additional cover through Permanent Disability Benefit Rider and Critical Illness Plus Benefit Rider on payment of additional premiums, therefore ensuring a complete cover against the unfortunate eventualities.

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Kotak Life insurance review

Kotak Life Insurance plans
Distribution - Number of branches pan India (March 2019)
244
Entry Age Minimum/Maximum (Years) - Term Plans
18/65
Sum Assured Minimum / Maximum - Term Plans
25 lacs / Unlimited
Policy Term Minimum / Maximum (Years) - Terms Plans
5/40
Solvency Ratio (FY 2018-19) *
3.02
Number of Policies Sold (Ind+Group) *
316,150
Number of Lives Covered (Ind+Group) **
15,530,695
Claims Settlement Ratio (Ind+Group) ***
99.01%
* - As per IRDAI data 2018-19 - The solvency ratio of an insurance company is the size of its capital relative to all the risk it has taken, which is all liabilities subtracted from total assets. In other words, solvency is a measurement of how much the company has in assets versus how much it owes
** - as per L-25 Public Disclosure of Insurance Companies for 2019-20  |  *** - Claims Settlement Ratio = Claims Settled in the year / Claims Reported in the year - as per IRDAI data published

Kotak e-Term Plan Overview

  • Key Features
  • Eligibility

Key Features of Kotak e-Term Plan

  • Low Cost Insurance - offers the benefit of high cover at economical prices
  • 3 Plan Options - to choose from
  • 3 Payout Options - to choose from
  • Enhance Your Cover - at specific events of life through Step-Up option
  • Enhanced Protection - against Accidental Death, Critical Illness and Total Permanent Disability
  • Special Rates - for Non-Tobacco Users & Women

Eligibility Criteria of Kotak e-Term Plan

Parameters Minimum Maximum
Entry Age(as on last birthday) 18 years 65 years (Except for Limited Pay - “Pay till 60 Years”
50 Years (For Limited Pay - “Pay till 60 Years”)
Maturity Age(as on last birthday) 23 years 75 years
Premium Payment Term (PPT)/Policy Term (PT) Regular Pay:
Premium Payment Term Policy Term
Same as Policy Term Min: 5 Years
Max: 40 Years or 75 minus Age at Entry
Limited Pay:
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
Note: ~7 and 15 Pay shall not be available for Online Channel
Premium Payment Option Regular, Limited and Single Pay
Premium Payment Mode Single, Yearly, Half-Yearly , Quarterly and Monthly(Half Yearly and Quarterly mode shall not be available for Online Channel)
Modal Factor The following modal loadings shall be used to calculate the instalment premium in case of Regular and Limited Premium Payment Options:
Premium Payment Term Premium Payment Modal Factor
Single Premium 100% of Base Premium
Regular/ Limited Pay
Yearly 100% of Annual Premium
Half-Yearly 51% of Annual Premium
Quarterly 26% of Annual Premium
Monthly 8.8% of Annual Premium
Premium Minimum Premium shall vary 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 Premium: No limit, but shall depend on the Maximum Basic Sum Assured which is subject to underwriting
Basic Sum Assured Min – 25,00,000
Max – No limit, subject to Underwriting Policy
However Accidental Death Benefit payable under Life Plus Option shall be subject to a maximum of 1 Crore

Brochure

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Policy wordings

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CIN: U66000KA2018PTC117713 | IRDAI Web aggregator License Code Number: IRDAI / INT / WBA /53/ 2018, Valid till 07/08/2028