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Kotak Term Insurance Plans

166 reviews Rate This
Claim Settlement Ratio98.50%
Customer Care8:00 AM to 10:00 PM
Death Benefit Paid For3,225 Policies
Presence232 Branches
Total Death Benefit PaidRs. 170.14 Crore

Term Life Insurance Premium Calculator


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Disclaimer :
1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification

Best Kotak Term Insurance Plans

1 Crore
2 Crore
    Tax Free
    1 Cr
Starting From 707/Month
24hr Claim Settlement
Key Features:
  • Zero Cost Benefit
  • Terminal Illness
  • Nominee's Choice payout
  • Voluntary Top Up
  • Tax Benefits
    Tax Free
    1 Cr
Starting From 857/Month
24hr Claim Settlement
Key Features:
  • Waiver of Premium on Disability
  • Terminal Illness
  • Life Stage Benefit
  • Tax Benefits
    Tax Free
    1 Cr
Starting From 771/Month
24hr Claim Settlement
Key Features:
  • Tax Benefits
  • Terminal illness
See More Plans

Kotak Life Insurance offers the most basic and economic term insurance plans that offer financial protection to the policyholder and/or beneficiary in case of unfortunate events in return for paying a premium towards the plan on a timely basis. With the plans, come riders that you can opt for additional protection, by paying an additional premium at the time of policy purchase. These plans keep your family and dependents secure in your absence.

Kotak Life Term Insurance Plans

Explained below are the term insurance plans offered by Kotak Life Insurance:

1. Kotak Term Plan: Kotak Term Plan is an economical pure risk cover plan that people aged between 18 years and 65 years can buy. The maturity age for this plan is 70 years and the minimum and maximum sum assured are Rs. 3 Lakh and Rs. 24,99,999 respectively. The policy term can be chosen between 5 years and 30 years. The good news is that you can pay the premium for this plan in a single, yearly, half-yearly, quarterly, or monthly payment. Also, the plan comes with a plan conversion option and several riders to enjoy additional coverage. These include Kotak Accidental Death Benefit Rider, Kotak Permanent Disability Benefit Rider, and Kotak Critical Illness Plus Benefit Rider. You can purchase the Kotak Term Plan by paying a nominal premium.

2. Kotak E-Term Plan: A pure term insurance plan, Kotak E-Term can be purchased by people aged between 18 years and 50 years (for limited pay-pay till 60 years) or 65 years (except for limited pay-pay till 60 years). The minimum sum assured under the plan is of Rs. 25 Lakh and there is no maximum limit. However, the accidental death benefit payable under Life Plus Option shall be subject to Rs. 1 Crore. Premium payment modes offered under the plan are monthly, yearly, half-yearly, and quarterly. The plan comes with 3 pay-out options namely immediate pay-out, level recurring pay-out and increasing recurring pay-out. Also, you can choose riders for additional protection, i.e. Kotak Permanent Disability Benefit Rider and Kotak Critical Illness Plus Benefit Rider.

3. Kotak Saral Jeevan Bima Plan: Kotak Saral Bima Plan is a non-linked non-participating individual pure risk cover plan that can be purchased by people aged between 18 years and 65 years. It pays up in lump sum in case of demise of the insured. The minimum and maximum maturity age under the plan is 23 years and 70 years respectively. The plan comes with premium payment modes of single, yearly, half-yearly or monthly payment. The minimum and maximum basic sum assured under the plan is of Rs. 5 Lakh and Rs. 25 Lakh respectively. One of the highlights of this plan is that it provides preferential rates for female lives.

Kotak Term Insurance User Reviews

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What users are saying
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  • What I appreciate most about InsuranceDekho is that I was able to customize the Kotak Term Insurance- e-Term P...

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    By Prabhat Sarkar
    On: Oct 19, 2023
  • Applying for term insurance with InsuranceDekho was a breeze. The online application process was user-friendly...

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    By Satinder Singh
    On: Oct 18, 2023
  • InsuranceDekho's user-centric approach is evident in every aspect of their service. I experienced the best ser...

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    By Drigha Shankar
    On: Sep 21, 2023
  • InsuranceDekho doesn't just sell policies; it provides financial planning assistance. Through the Kotak Life T...

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    By Parmeet Sinha
    On: Sep 12, 2023
  • This was my first time purchasing an insurance plan from InsuranceDekho. I learned about the online premium ca...

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    By Nikesh Murlidhar
    On: Aug 22, 2023
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Kotak Term Insurance Contact Details

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Claim Process at Kotak Term Insurance

  • 1

    Claim Intimation

    In the case of death of the life assured, a claim intimation to the insurance company must be made as early as possible.
  • 2

    Submission of Documents

    Claim form, death certificate, original policy document, and more documents must be submitted to ensure smooth claim settlement.
  • 3

    Claim Evaluation

    Once the documents are submitted, the insurance company will conduct thorough evaluation of the claim filed.
  • 4

    Claim Settlement

    If claim request is approved, claim settlement is done within 30 days. If additional investigation is required, it make take 6 months.

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FAQ About Kotak Term Insurance

  • What is the customer helpline number of Kotak Life Insurance?

    The toll-free customer helpline number of Kotak Life is - 1800 209 8800.

  • What is the Claim Settlement Ratio of Kotak Life Insurance?

    Kotak Life featured an excellent claim settlement ratio of 96.38% for FY 2019-2020 as per the IRDA annual report.

  • What is the difference between term insurance and life insurance?

    A term insurance plan provides the sum assured to the nominees/beneficiary in case of an unfortunate event. Life insurance provides benefits at the maturity of the plan.

  • Can Non-Resident Indians (NRIs) purchase Kotak Life Term insurance plans?

    Yes, NRIs who have legal citizenship of India can purchase Kotak life term insurance plans.

  • Does Kotak Life Term insurance plans offer tax benefits?

    Kotak Life offers tax benefits under Section 80C and Section 10(10D) of The Income Tax Act, 1961.

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