Kotak Term Insurance for NRI

Term insurance for NRIs is becoming one of the popular insurance products among the NRIs because of its benefits and affordability. If you are an NRI and want to purchase a term insurance policy in India, you can consider the Kotak term insurance plan for NRI.

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Kotak Term Insurance Policy for NRIs

Kotak Mahindra Life Insurance Company Ltd. is one of the leading private insurance providers in India. The company provides an array of term insurance plans, and for NRIs, it offers Kotak e-Term plan. 

Kotak e-Term Plan

Kotak e-Term plan is a pure term insurance plan that secures the financial future of the family of the policyholder in case of their sudden demise during the policy term. This plan is designed very carefully for offering optimum life coverage to the policyholder and their family. The nominee of the policyholder gets the death benefit according to the option selected. 

  1. Kotak e-Term Plan – Features:

    • Kotak e-Term plan offers high life insurance coverage at very affordable premiums.

    • The policy provides various options to enhance the coverage of the policy against permanent and total disability and accidental death through additional riders. 

    • As per the life stage of the policyholders, they can increase or decrease the amount of life cover. 

    • For non-tobacco users and women, the policy provides special premium rates. 

    • The policy also offers three options to choose from, which are – Life Plus, Life, and Life Secure. 

    • The policy also provides three payout options to select from – Immediate payout, Increasing Recurring payout, and Level Recurring payout. 

    • With this plan, the policyholder gets tax benefits U/S 80C against all the premiums paid. For paid death benefits, the policyholder gets tax benefits under section 10D of the IT Act, 1961. 

    Affordable Term Life Insurance Affordable Term Life Insurance
  2. Kotak e-Term Plan – Benefits:

    The benefits that one gets with Kotak e-Term plan are:

    • The policy offers various rider benefits, which one can avail of by paying an additional premium. The rider benefits available for this plan are – Kotak Critical Illness Plus Benefit Rider and Kotak Permanent Disability Rider.

    • With Kotak's e-Term plan, one gets multiple options to choose from – Life Secure, Life Plus, and Life.  

    • Life option provides 100% sum assured on death, Life Plus option provides 100% sum assured on death as well as accidental death benefit up to Rs. 1 Crore, in case of death due to accident. On the other hand, under Life Secure option, all the premiums of the future get waived off, if the policyholder becomes disabled totally and permanently. The death benefit remains in force for the remaining tenure of the policy, and upon death, 100% of the sum assured is paid. 

    • Under this plan, three pay-out benefit options are provided – Level Recurring pay-out, Immediate Pay-out, and Increasing Recurring pay-out. 

    Kal Kisi Ne Nahi Dekha Kal Kisi Ne Nahi Dekha
  3. Kotak e-Term Plan – Exclusions:

    The Kotak e-Term Plan does not cover:

    • A self-inflicting injury such as an attempt to suicide.

    • Participation in any unlawful or illegal activity.

    • Law breaching with criminal intent.

    • Use of solvent, drugs, or alcohol. 

    Kotak e-Term plan provides complete protection to the family of the policyholder at the time of uncertainty. The plan comes with the best of benefits and features and is backed by some of the most useful riders. 

How to Purchase Kotak e-Term Plan?

An NRI can purchase this plan through two methods:

  • While Their Visit to India: This is the best option to purchase any term plan by an NRI. While his/her visit to India, he/she can purchase a term insurance policy like Kotak e-Term plan in the same way as any normal Indian citizen. 

  • From Their Country of Residence: If an NRI wants to buy a term insurance plan from their country of residence, he/she has to write to the insurance provider regarding the same in this case, to the Kotak Mahindra Life Insurance Company. In this way, this process comes under Mail Order Business, and under this, an NRI needs to get his/herself verified by the notary or Indian Diplomat. Sometimes, the NRIs need to get themselves verified by the Indian Embassy. 

Taalon Nahi Taalon Nahi

FAQ's

  • Can an NRI purchase a term insurance plan offered by Kotak online?

    Ans. Yes, an NRI can buy a term insurance policy offered by Kotak Mahindra Life Insurance Company online. The online purchase process is hassle-free and fast without any paperwork. Additionally, the online purchase process as well enables the policyholders to compare different term insurance plans online. This enables the policyholder to get the best coverage at very reasonable rates.
  • Can I surrender my Kotak Term Insurance policy?

    Ans. Yes, you can surrender your term insurance policy offered by Kotak Mahindra Life Insurance Co. in case you are not satisfied with its coverage.
  • What is the minimum age to purchase Kotak e-Term Insurance plan?

    Ans. The minimum entry age allowed for purchasing this term insurance plan offered by Kotak Life insurance company is 18 years.
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Kotak Term Insurance for NRI Reviews & Ratings

4 / 5 (Based on 26 Reviews)
(Showing Newest 10 reviews)
Jitnesh
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.
Bhumi
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.
Nirmal
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.
Prashant
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.
Rahul
Ahmednagar, June 29, 2016
Good
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.
Yogesh
Shahabad, April 25, 2016
Trustworthy
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.
Varun
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.
Chirag
Haldwani, April 25, 2016
Wonderful
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.
Rohit
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.
Umakant
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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