Kotak Life Insurance Plans

Kotak Life Insurance offers several life insurance plans that cater to the varied requirements of different individuals. These include protection plans, savings and investment plans, health plans, and retirement and child education plans. Kotak Life Insurance is one of the fastest-growing private life insurance providers in India. Explore the types of Life Insurance plans offered by the insurer below:

Types of Kotak Insurance Plans are:

1. Term Insurance Plans
2. Retirement and Pension Plans
3. Savings and Investments Plans
4. Health Plans

Kotak Life Term Insurance Plans

Kotak Life Insurance offers different term insurance plans as discussed below:

1. Kotak Term Plan: The Kotak Term Plan offered by Kotak Life Insurance is a pure risk cover plan that provides financial protection. This plan pays a sum assured to the beneficiary at the time of an unfortunate event. It offers coverage at a nominal cost and a flexible premium payment option. Term plan also provides additional protection with optional riders such as Kotak accidental death benefit rider, Kotak permanent disability rider and Kotak critical Illness plus benefit rider.

2. Kotak E-Term Plan: Kotak E-Term Plan is also a pure risk cover term plan that offers a death benefit to the beneficiary if the life insured dies. This plan offers special premium rates to non-smoker and non-tobacco users. It provides multiple plan options such as Life Option, Life Plus Option and Life Secure Option. Kotak E-Term Plan also offers three payout options namely Immediate Payout, Level Recurring Payout and Increasing Recurring Payout.

3. Kotak Saral Jeevan Bima: Kotak Saral Jeevan Bima is a pure risk term plan that provides life cover and also provides a lump sum payout to the family members of the life assured in case of unforeseen demise of the life assured during the policy tenure. This plan offers comprehensive protection at a nominal cost. It offers long-term coverage i.e. life cover for up to 70 years of age. This plan offers flexibility to choose the premium payment term.

Kotak Life Retirement and Pension Plans

Kotak Life Insurance offers two Retirement and Pension plans as discussed below:

1. Kotak Lifetime Income Plan: Kotak Lifetime Income Plan is a non-linked and non-participating insurance plan. This plan provides financial protection post-retirement. Kotak Lifetime Income plan offers a wide range of income options that best suit different retirement plans.

2. Kotak Premier Pension Plan: Kotak Premier Pension Plan is a participating plan. This plan provides guaranteed additions, and assured benefits on death/maturity and this plan also provides additional protection through optional riders.

Kotak Life Savings and Investment Plans

Kotak Life Insurance offers several Savings and Investments plans as discussed below:

1. Kotak Invest Maxima: Kotak Invest Maxima is a unit-linked insurance plan and provides zero premium allocation charges, a choice of portfolio strategies and a choice of the convenient policy term and premium payment term. This plan also provides rewards for staying invested longer.

2. Kotak Single Invest Plus: Kotak Single Invest Plus is a single premium unit-linked insurance plan. This plan provides the convenience of a one-time premium payment. Joint life cover, the advantage of loyalty additions.

3. Kotak Sampoorn Bima Micro-Insurance Plan: This plan is also a single premium plan with a fixed policy term of 5 years. This plan provides a guaranteed payout and this plan requires no medical tests.

4. Kotak Single Invest Advantage: Kotak Single Invest Advantage plan is a unit-linked insurance plan that offers the convenience of one-time investment i.e. single premium, loyalty additions, and offers options to choose from three investment strategies.

5. Kotak Platinum Plan: Kotak Platinum Plan is an investment plan that offers three investment strategies that are Self Managed Strategy, Age-Based Strategy and Systematic Switching Strategie. This plan also offers a flexible payment period.

6. Kotak POS Bachat Bima: Kotak POS Bachat Bima plan provides life insurance coverage and guaranteed benefits. This plan also provides limited premium payment terms, and guaranteed loyalty addition payable on maturity.

7. Kotak Ace Investment: Kotak Ace Investment plan is a unit-linked insurance plan that offers three different investment strategies and life cover as well.

8. Kotak Assured Income Accelerator: Kotak Assured Income Accelerator is a non-participating and endowment insurance plan. This plan provides risk-free returns and guaranteed income every year.

9. Kotak Premier Endowment Plan: Kotak Premier Endowment plan is also a non-linked participating endowment plan that offers guaranteed additions, and convenience to select from multiple options of the premium payment term.

10. Kotak Assured Savings Plan: Kotak Assured Savings plan offers affordable Life coverage and provides financial protection in case of any unfortunate event. This plan offers guaranteed maturity benefits, increased life cover, and enhanced protection through options for riders.

11. Kotak Premier Money Back Plan: Kotak Premier Money Back plan offers lump-sum payouts at regular intervals, enhanced death cover with additional payout on accidental death.

12. Kotak Classic Endowment Plan: Kotak Classic Endowment Plan is a long-term protection and savings plan as well. This plan offers coverage for a longer period and a yearly bonus from the first policy year.

13. Kotak Premier Income Plan: Kotak Premier Income plan offers guaranteed annual income, accrued bonus at the end of the policy term in the form of a lump-sum amount and life cover.

14. Kotak SmartLife Plan: Kotak SmartLife is an endowment plan that provides the convenience of choosing bonus options such as Cash Payouts or Paid-Up Additions. This plan offers protection up to age 75 years and provides additional protection through optional riders.

15. Kotak Premier Life Plan: Kotak Premier Life is a participating whole life plan that provides protection up to the age of 99 years and offers a cash bonus at the end of the premium payment term.

16. Kotak Guaranteed Savings Plan: Kotak Guaranteed Savings plan offers limited premium payment options, Guaranteed additions, Guaranteed loyalty additions and enhanced protection through optional riders.

17. Kotak E-Invest Plan: Kotak E-Invest is a comprehensive plan that can be customised according to your requirements, whether it is protection, investment, financial security for your child, or retirement planning. The plan comes with different options to choose from, namely Maximiser, Rising Star and Retire Rich.

18. Kotak Wealth Optima Plan: Kotak Wealth Optima Plan offers a choice of two investment strategies that suit your risk-return profile. These are self-managed strategy and age-based strategy. The plan enhances fund growth through yearly additions after the lock-in period. The plan comes with an option to be covered for entire life until 99 years of age.

Kotak Life Health Plan

Kotak Life comes with a health plan named Kotak Health Shield Plan, the features of which are mentioned below:

1. Kotak Health Shield Plan: Kotak Health Shield is a critical illness insurance plan that covers life-threatening illnesses such as cancer, stroke, kidney failure, liver damage, heart attack, etc. The plan offers flexibility to avail coverage options namely Cancer Shield, Cardiac Shield, Livo Shield, and Neuro Shield.