Kotak Term Insurance Calculator

With numerous life insurance products available in the market, the Kotak term insurance plan issurely one of the most ideal options for those individuals who are looking forward to covering themselves for a period fixed. The Kotak term is the pure risk cover plan, which provides a level of adequate financial protection. 

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In case, the policyholder passes away while the policy is in force, then the nominee is entitled to receive the sum assured as per the terms and conditions of the policy.  The time an individual decides to buy a term insurance plan, it is recommended to use a Kotak term insurance premium calculator.

What is the Kotak Term Insurance Calculator?

The Kotak term plan calculator helps to have an estimate of the premium amount that an individual would end up paying consistently for the specified term plan.

The different factors such as type of plan, health conditions, age, plan tenure, the rider benefit, and sum assured determines the term insurance premium amount. The Kotak term plan calculator will help to evaluate the approximate sum of premium that an individual would end up with during the purchase of the policy. With the help of the Kotak term plan premium calculator, the policyholder can make an informed decision and select the plan that offers maximum coverage at cost-effective premium rates. Let us get into the nitty-gritty of the Kotak term insurance calculator.

What are the Details Required to Use Kotak Term Plan Calculator?

Any individual who is looking forward to buying the Kotak term plan should use the Kotak term, insurance calculator. The table below shows the basic details that will be required to use the Kotak term plan premium calculator:

Details of the Plan Personal Details
Gender Name
Required Life Cover Email
Policy Tenure Phone Number
Birth Date City and State
Premium Payment Term Smoking Habit

What are the Benefits of Using Kotak Term Insurance Calculator?

The following are the key benefits of using the Kotak term plan calculator:

  1. Free Cost 

    Kotak Term Insurance Calculator is free of cost and is easy to use. 

  2. Save Time

    It is mostly understood that manual calculations are a time-taking process. The Kotak term insurance calculator helps to save time and simplifies the process of getting the quote within minutes. Use the Kotak term insurance premium calculator and generate the quote quickly.

  3. Cost-Effective

    The Kotak term insurance calculator will help to determine the most cost-effective plan. Purchasing the plan online can also help an individual get the insurance plan at a special price. Using the Kotak term insurance calculator is not at all complex and determines the premium without taking much time.

  4. Compare Plans

    The Kotak term plan calculator also enables one to compare the different plans at no cost. In case an individual contacts an agent for the same then would end up paying charges for creating different plans with the difference in premiums; however, the Kotak term insurance premium calculator does it in a hassle-free manner.

  5. Accuracy

    When it comes to calculations, human beings can likely make errors. This does affect the calculation of the premium amount and that would impact an individuals’ purchasing decision to buy a Kotak term insurance plan. The Kotak term plan premium calculator provides accurate results. This online tool helps to get the quote with no mathematical error.

Best term Insurance Plans in India

How to Use Kotak Term Plan Premium Calculator?

Kotak Term Insurance premium calculations are hassle-free and simple with an online premium calculator. Listed below are the steps to use the Kotak term plan premium calculator:

  • Visit the official website of Kotak Life.

  • Next, select ‘Online Plans’.

  • Under ‘Tools and Calculator’ select ‘Term Insurance Calculator’.

  • Provide all the required information correctly and then click on ‘Get Free Quote’.

  • The approximate Kotak term insurance premium amount will be shown both monthly and annually.

Factors That Affect The Term Insurance Premium

Though the sum assured amount of a term insurance plan can be the same, the premium rate depends on number of factors and plays a huge role in deciding the premium charge. 

  • Age: Age is a crucial metric considered while assessing premium quotes which is why it is recommended to buy insurance plans when you are younger. With age, the premium rates rise. At a younger age, you can get a good term insurance plan at low premium rates. 

  • Coverage amount: The amount of coverage also decides the premium rates where a higher cover means higher premium rates. 

  • Gender: As per the statistical data used by insurance companies, female policyholders are more likely to pay higher premium amounts. So the premium rates for men are comparatively higher than for women because of the lower life expectancy. 

  • Policy Term: The policy term is decided by the life assured at the time of purchasing the policy. The term insurance premium rates are lower when the policy term is longer. Thus, if you select a longer tenure of the policy, you can get a less expensive amount of premium. 

  • Mode of Purchasing: You can purchase term insurance online and offline. Online is quite easy and hassle-free than buying it offline, where you have to pay the agent if involved. 

Wrapping It Up!

A term insurance plan is one of the easiest and simplest forms of life insurance. The Kotak term insurance plan calculator will help to understand the financial requirements and the amount of sum assured that would be required by the family and the premium that needs to be paid.

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Kotak Life Term Insurance Plans Reviews & Ratings

4 / 5 (Based on 26 Reviews)
(Showing Newest 10 reviews)
Boipariguda, March 02, 2021
Claim settlement is quick
One of my friend shared his review on this that the claim settlement of term plan is really good and quick. His plan was of kotak term insurance and it was really good plan with various benefits. The claim was settled on time. Thanks to team of policybazaar for suggesting some good plans.
Aul, February 19, 2021
Good plans
I have recently bought a term insurance plan from the kotak life insurance company and it was the process which was done with the help of policybazaar. I found the product into my budget and much convenient. Such a good plan.
Kheda, July 20, 2016
Kotak Insurance
Term insurance plan of mine is perfect one, and i bought this from kotak mahindra life insurance. Online renewals, updates regarding the policy and many more facilities which reduces tension of waiting in the queue. Nice investment for securing the future and it reduces taxes too.
Gauriganj, July 11, 2016
Term plan
My term plan is perfect one and investment is less. Policy coverage is high and the claims are good which can be easily cleared by the help of staff members of the insurance company. Service is quick and online portal facility makes hassle free documentations and even renewal of the policy can be done.
Ahmednagar, June 29, 2016
The term insurance plan I have is fantastic which has low premium and paybacks are high. Service provided is quick and on time. Internet web service is nice and simple to operate. Hassle free documentations and no paperwork.
Shahabad, April 25, 2016
I purchased kotak life term insurance plan. The premiums are ~Rs.35 K per year. The claims are good and easily sanctioned. Service facilitate by executives and staff members are very nice and fast. The policy saves taxes and it is really very good investment for future.
Kolkata, April 25, 2016
Perfect Policy
Policy plan is wonderful with huge benefits like low premiums and the policy coverage is high 90%. Claims are are good and the payback amount is around Rs.32 L after the policy get mature. Internet services are great with easy interface and vast variety of policies are there with full descriptions. Good future investment.
Haldwani, April 25, 2016
Great term insurance policy plan i got from kotak mahindra life insurance. They has good in facilitate the fast services. Policy coverage is 81% and the claims are good with easy claiming process. The investment is good and it saves taxes also. The behaviour of executives and staff members are very nice.
Delhi, April 25, 2016
Good Service
Kotak mahindra life insurance is one of the perfect insurance providers, i took term insurance policy plan. The policy is good in service and it can be buy online also. The web service is awesome and 5% less for women on premiums. Policy coverage and the claims are high. Due to online facility, it reduces the paper work and the waiting part is erased. It save taxes also.
Lonavla, April 25, 2016
Poor Policy
The term policy plan i have is not up to the mark. The policy coverage is 66% and the claims are less. The premiums are 20 K twice a year. Services are fast and the behaviour of the executives and staff members are good. Some improvement needed in the web site.
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