Term Insurance

Kotak Life Insurance is known to be one of India’s most renowned insurers and it offers a wide range of life insurance plans. These life insurance plans, including term life insurance and savings plans, make sure that your loved ones are secured against life's uncertainties are will never face financial burden in the future. Kotak Term Insurance is the most simple and affordable type of life insurance that offers death benefit to the nominee of the policyholder in the unfortunate event of his/her death. Let’s understand more about Kotak Term Insurance in details.

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Term Insurance

Kotak Life Insurance is known to be one of India’s most renowned insurers and it offers a wide range of life insurance plans. These life insurance plans, including term life insurance and savings plans, make sure that your loved ones are secured against life's uncertainties are will never face financial burden in the future. Kotak Term Insurance is the most simple and affordable type of life insurance that offers death benefit to the nominee of the policyholder in the unfortunate event of his/her death. Let’s understand more about Kotak Term Insurance in details.

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Why Should I Buy Kotak Term Insurance?

Kotak Term Insurance plans are designed to offer financial protection and security for your family in case of an unfortunate event, such as disease or death. The payout received from this term plan ensures that your family will be able to pay off any remaining debts/loans or other financial obligations. Along with death benefit, the Kotak term plans also offer additional rider benefits to enhance the policy’s coverage. With affordable premium rates, Kotak term plans are definitely meant for individuals of all backgrounds who wants to financially protect their families. Here is a list of all the reasons to buy term insurance plans by Kotak Life Insurance:

Note: Know more about what is term life insurance first before reading this article.

98.5% claim settlement ratio backed by most trusted Kotak Mahindra Bank
37 critical illnesses covered
Unique Step-down option available to decrease life cover when desired
24 hr claims settlement process
Enhanced protection against death, disease & disability available
Covers death due to any pandemic such as COVID-19
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Kotak Life Term Insurance Plans

Here is the list of term insurance plans offered by Kotak Life Insurance that will fit your financial goals:

Kotak Life Term Insurance Riders

There are many important term insurance riders available within Kotak term insurance plans. These riders can be added at nominal premiums to enhance the base plan’s coverage and provide extra benefits. Here are the term insurance riders offered under Kotak term plans:

Waiver of Premium(paid)Cover against 37 critical illness(paid)
Extra Payout on Accidental death(paid)
How Much Life Cover Do I Need?

HLV, or the human life value, is an estimation of the appropriate life cover that you should get to protect your loved ones during your absence. Ideally, the life cover must be at least 10 to 15 times your annual income. This ensures that your family’s financial stability in maintained without hassle. 

For example:

Anand is a 30-year-old non-smoking man, with an annual income of 8 Lacs and wants to buy term plan to financially protect his family. As per the human life value calculator, the most suitable life cover for Anand should be 1 crore.

The human life value calculator calculates the maximum life covers that you should ideally buy based on your age and yearly income. Your family can use the benefit amount to take care of their financial goals and needs.

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Choosing the Right Life Cover Option

It is important to choose the most appropriate life cover option while buying the Kotak term insurance plan, as this is the same amount that will be paid to your nominee in case of your untimely demise. Here is a list of all the life cover options that might be enough to cover your family’s financial needs in your absence:

Kotak Life1 Crore
Term Insurance
Kotak Life2 Crore
Term Insurance
Kotak Life5 Crore
Term Insurance
Kotak Life75 Lac
Term Insurance
Kotak Life70 Lac
Term Insurance
Kotak Life50 Lac
Term Insurance

Term Insurance Premium Calculator

Our term life insurance calculator in india can help you calculate the following:

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Types of term plans

Policybazaar offers the following types of term insurance plans to fit the different needs of Individuals from all walks of life.

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