Kotak Term Assurance Plan
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| Launch Date | UIN | Status |
| 21/6/2004 | 107N005V02 | Withdrawn |
About Kotak Term Assurance Plan
- A pure term plan that provides risk cover
- Flexible premium payment option (Single or regular or limited)
- Is cost effective because of nominal premium amount
- Takes care of the financial liabilities or debt in the eventuality of an individual not being around
- Option to convert the plan into another plan
- Offers tax benefits
- 4 additional rider benefit options available
How does this plan work?
Under this Kotak term plan, an individual can choose a policy term from between 5 to 30 years and premium payment mode. Once the policy term ends, there is no maturity benefit involved as it is a term plan. During the policy term, if due to an unfortunate event lead to death of the individual, then his nominee receives the sum assured.
Why should you buy Kotak term assurance plan?
- Kotak term assurance plan provides monetary protection to family in-case of death
- This plan acts as a cover for any financial liabilities like housing loans, personal loans, etc.
- It’s a low premium paying risk cover
- Premiums paid are tax exempt under section 80C and maturity amount is tax free under section 10(10D)
COMPARE & BUY SIMILAR PLANS
Who should buy Kotak term assurance plan?
- A sole bread winner who is looking out to provide monetary protection to the family against risk
- Individuals who have taken loans and want a cover for it
- Since e-term is a low premium risk cover, an individual can choose other several investment schemes to grow his income.
Riders
- Kotak Accidental death benefit rider: In case of death of the life insured due to accident, rider sum assured will be paid in addition to the death benefit under the base plan.
- Kotak Permanent Disability Rider: In case of life insured being permanently disabled due to accident, benefit is paid in instalments.
- Kotak Critical Illness Rider: If diagnosed with critical illness, portion of the basic Sum Assured is paid in advance for the covered Critical illness subject to terms and conditions.
Company Overview
Kotak Mahindra Old Mutual Life Insurance Ltd is a joint venture between Kotak Mahindra Bank Ltd., its affiliates, and Old Mutual. Kotak Mahindra is one of India's leading banking and financial services organizations, offering a wide range of financial services that encompass every sphere of life. Old Mutual is an international long-term savings, protection and investment group.
BENEFITS OF BUYING FROM ONEINSURE
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