Kotak Term Plan is a pure risk product that aims to cover your life at a nominal cost. You may want to take this plan to cover your outstanding debts like a mortgage, a home loan etc. Since this is a pure risk cover product, there are no maturity benefits payable on survival. This is a non-participating plan.
Advantages
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Low-cost insurance plan. |
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Option to choose between regular premium or single premium payment. |
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Plan can be converted into any other plan offered by Kotak Life Insurance (except for another Term plan) provided there are at least 5 years before cover ceases*. |
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In case you forget to pay your premium by the due date, you are entitled to a grace period of 30 days from the date of unpaid premiums. |
You may avail of the following value-adds for a nominal premium at the time of taking your policy:
- Accidental Death Benefit
- Permanent Disability Benefit
- Critical Illness Benefit
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Kotak Term Plan - UIN 107N005V02. Insurance is the subject matter of the solicitation. This is a non-unit linked, non-participating plan. For detailed terms and conditions, please read the product brochure carefully.
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