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Kotak Gen2Gen Protect

Insurance and Investment in one plan.

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Kotak Signature Term Plan

A plan that offers immediate or deferred stream of income

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Term Insurance

Term insurance provides life cover for a fixed duration, known as the policy term, in exchange for a premium. If the insured passes away during this term, the nominee receives a lump-sum death benefit. This amount ensures your family can manage essential expenses like daily household costs, children’s education, repay loans and medical bills, without financial stress. Term plans are affordable, straightforward, and designed to secure your dependents’ future. Explore Kotak Life’s term insurance plans, key features of term insurance, how term insurance works, how you can choose the best plan for your family, and more.

Save up to 13% on premiums

Save tax up to ₹54,600 u/s 123 read with Schedule XV^@

Save up to 13% on premiums

Save tax up to ₹54,600+ u/s 80C & 80D

Get ₹1 Crore Life Cover Starting at just ₹485/month⁰

Get Premiums back^* | 0% GST⁺

Buy Online

टर्म इंश्योरेंस हिंदी में पढ़ें

99.50%^#

Individual Death Claim Settlement Ratio

2.21%

Solvency Ratio

as on March 26^$

1-Day

Claim Settlement!^!

25+

Years of Protecting Lives

Term Plans Designed for Your Life Stage

Young Professional
New
Parents
Home Loan Holder
Self-Employed
Working Women

Young Professional

₹1 Crore coverage

Monthly Premium start with

₹485/month or just ₹15/day⁰

Key Highlights:

Free Medical Check-Up every 5th year^**
Save tax up to ₹54,600 u/s 123 read with Schedule XV^@
Save 13%^▪ on Premiums

Secure This Plan

What You Get:

Life Coverage

₹1 Crore protection for your loved ones

Special Exit option at age 60^*

Get 100% premiums back

Multiple Plan Option

Customize protection with optional riders

Start my Cover

Premium shown is for illustration purposes. Actual premium may vary based on medical history and other factors.

₹1 Crore coverage

Monthly Premium start with

₹692/month or just ₹22/day^€

Key Highlights:

Get 7.5%” Online Discount
Zero GST⁺
Save tax up to ₹54,600 u/s 123 read with Schedule XV^@

Secure This Plan

What You Get:

Affordable Life Cover for your Family

Save up to 62%++ on Premiums

Choose 5-year limited pay option

Individual Death Claim Settlement

99.50% settlement ratio^#

Protect My Family

Premium shown is for illustration purposes. Actual premium may vary based on medical history and other factors.

₹1 Crore coverage

Monthly Premium starts with

₹692/month or just ₹22/day^€

Key Highlights:

Special Rates for Non-Tobacco Users
Special Exit Benefit^*
Save tax up to ₹54,600 u/s 123 read with Schedule XV^@

Secure This Plan

What You Get:

Life Coverage

Secure your family’s future

1-day Claim Settlement^!

Get instant peace of mind

3 Payout Options

Select option based on family’s requirement

Cover My Loan

Premium shown is for illustration purposes. Actual premium may vary based on medical history and other factors.

₹2 Crore Coverage

Monthly Premium starts with

₹1,145/month or just ₹36/day^α

Key Highlights:

Get 62%⁺⁺ off with 5 yrs Limited Pay Option
Save tax up to ₹54,600 u/s 123 read with Schedule XV^@
Save 13%^▪ on Premiums

Secure This Plan

What You Get:

MWPA Benefit

Provision for wife’s financial security

Instant Payout

On claim intimation of ₹2 Lakhs^##

Special Exit Option

Get 100% premiums back^*

Secure My Income

Premium shown is for illustration purposes. Actual premium may vary based on medical history and other factors.

₹2 Crore coverage

Monthly Premium starts with

₹962/month or just ₹30/day^£

Key Highlights:

Inbuilt Health & Wellbeing Benefits
Zero GST⁺
Save tax up to ₹54,600 u/s 123 read with Schedule XV^@

Secure This Plan

What You Get:

Life Cover

High Insurance Cover at economical price

Special Female Discount

16% discount for Salaried Women^{<< /sup>}

₹2L Instant Payout^##

Avail claim within 2 working days

Claim Your 16% Discount

Premium shown is for illustration purposes. Actual premium may vary based on medical history and other factors.

What is Term Insurance?

Term insurance is an agreement between you and the insurer to provide life cover for a fixed period in exchange for the premium.

Here is how it works: You choose the coverage and term, pay regular premiums, and if the insured passes away during this term, the nominee receives a lump-sum death benefit. This payment is what keeps your family financially stable at difficult times.

How does Term Insurance Work?

Take these 5 essential steps to protect your family with Kotak Life Insurance term plans.

Choose Your Life Cover and by What Age You Want Full Protection

Start by choosing an amount that covers your family's financial responsibilities.

Affordable Premiums, Pay Regularly

Starting at just Rs15/day⁰ with suitable paying options like monthly, quarterly, or half-yearly, whichever works best for your financial needs.

Rest Easy with Continuous Protection During Your Policy Period

Your family is protected with your term insurance till the policy period

In Case of a Mishap, Get the Claim Instantly

Access your benefits easily with minimal paperwork and our expert team support.

Final Step, Your Family Gets the Claim

Get the claim amount – options – lump sum/ monthly payout or combination of both.

Secure Your Future Today

Quick & Easy Coverage in Minutes

Check How Much Cover Do You Need

Premium Refund Option for Special Exit Value^
Now 18% Savings with No GST*
37 Critical Illness Optional Rider Cover#
16% Discount for Female&

T&C, KLI/26-27/E-WEB/487

How Old Are You?

Years

Start Building Retirement

T&C, KLI/25-26/E-WEB/2496

Real-Life Examples Across Life Stages

Meet Amar, a 30-year-old working professional with the objective: to protect his family’s financial future

Yrs

Amar chooses Kotak e-Term of Life Cover ₹1 Crore with a 30-year policy term

Amar makes regular premium payments

Yrs

Free Medical Check-up after 5 years^**

Yrs

If Amar Chooses to exit around age 60^* the insurer returns the total premiums paid

Yrs

After his unfortunate death, the Life Cover is payable to the nominee

Amar's family gets

₹1 Crore

Secure My Family

Nominee assistance call: 1800 209 8800/ WhatsApp: 9321003007

Meet Amar, a 30-year-old working professional with the objective: to protect his family’s financial future

Amar chooses Kotak e-Term of Life Cover ₹1 Crore with a 30-year policy term

30

Yrs
Amar makes regular premium payments
After 5^th years
Amar gets a free health check-up

35

Yrs
If Amar Chooses to exit around age 60 the insurer returns the total premiums paid

60

Yrs
After his unfortunate death, The Life Cover is payable to the nominee

74

Yrs

Amar's family gets

₹1 Crore

Nominee assistance call: 1800 209 8800/ WhatsApp: 9321003007

Secure My Family

Online Term Insurance Plans by Kotak Life Insurance

Kotak Signature Term Plan

High Insurance Cover at economical price
Special Discount for Female Life
Instant Payout on claim intimation of ₹2 Lakh^##
Longer Life Coverage up to Age 85 Years
Inbuilt Health & Wellbeing Benefits
Additional Discount for Salaried Customers
Option to exit the policy with a premium refund with Special Exit Benefit^*

View Plan & Premium

Kotak e-Term

Life Cover till 85 years for Life & Life Secure Option
3 Payout Options
Special Rates for Women
Option to exit the policy with a premium refund with Special Exit Benefit^*
Special Rates for Non-Tobacco Users
Free Medical Check Up every 5th year^**

View Plan & Premium

Kotak Gen2Gen Protect

Return of Premium on survival
Life ROP and Legacy ROP plan options
Cover 2 generations under 1 plan
An additional death benefit of 5% applicable for female lives
Enhanced Protection with optional riders^β
Save tax up to ₹54,600 u/s 123 read with Schedule XV^@

View Plan & Premium

Kotak Protect Advantage

Multiple Plan & Payout Options
Accelerated Payout on Terminal Illness
Premium Break Benefit
Instant Payout on claim intimation of ₹2 Lakh^##
Option to exit the policy with a premium refund with Special Exit Benefit^*
Inbuilt Wellness Benefits

Check this Plan

Offline Term Insurance Plans by Kotak Life Insurance

Kotak Term Plan
Kotak Saral Jeevan Bima
Kotak Health Maximiser
Kotak Value Protect
Kotak Signature Legacy
Kotak Vital Care

Kotak Term Plan

Life cover to protect your family’s future even if you are not around
Plan conversion option
Option to pay Single or Regular Premium
Customize Protection with Optional Riders^β

Check this Plan

Kotak Saral Jeevan Bima

Long Term Coverage
Special Rates for Women
Tax Benefits^@
Multiple Premium Payment Modes

Check this Plan

Kotak Health Maximiser

Provides Life cover along with Health Cover
Hassle-Free Issuance with Minimal Documentation
Save tax up to ₹54,600 u/s 123 read with Schedule XV^@
Cashless Transactions in over 9500+ Network Hospitals
Flexibility to choose your policy and premium payment terms
Preferred premium rates for female lives
Lifelong coverage irrespective of any claims under the policy

Check this Plan

Kotak Value Protect

Protection made simpler and quicker for you.
Life Coverage up to ₹50L Sum Assured
Preferential rates for Female Life
Inbuilt Wellbeing Benefits & Value Added Services

Check this Plan

Kotak Signature Legacy

Increasing Life Cover up to age 99
Two Plan Options Legacy and Legacy Plus
Insta Payout on Claim Intimation^##
Free Medical check-ups and Wellness Benefits
10% first year premium discount for women

Check this Plan

Kotak Vital Care

Sachet Life Cover at Affordable Price
Holistic Protection which covers life, accident and major health risks
Short & Hassle-Free Buy Process for Quick Issuance
Inbuilt Heath & Wellbeing benefit

Check this Plan

Offline Insurance Plans from Kotak Life Insurance

Kotak Term Plan

Life cover to protect your family’s future even if you are not around
Plan conversion option
Option to pay Single or Regular Premium
Customize Protection with optional Riders

Check this Plan

Kotak Saral Jeevan Bima

Long Term Coverage
Special Rates for Women
Tax Benefits^@
Multiple Premium Payment Modes

Check this Plan

Kotak Health Maximiser

Provides Life cover along with Health Cover
Hassle-Free Issuance with Minimal Documentation
Save tax up to ₹54,600 u/s 123 read with Schedule XV^@
Cashless Transactions in over 9500+ Network Hospitals
Flexibility to choose your policy and premium payment terms
Preferred premium rates for female lives
Lifelong coverage irrespective of any claims under the policy

Check this Plan

Kotak Value Protect

Protection made simpler and quicker for you.
Life Coverage up to ₹50L Sum Assured
Preferential rates for Female Life
Inbuilt Wellbeing Benefits & Value Added Services

Check this Plan

Kotak Signature Legacy

Increasing Life Cover up to age 99
Two Plan Options Legacy and Legacy Plus
Insta Payout on Claim Intimation
Free Medical check-ups and Wellness Benefits
10% first year premium discount for women

Check this Plan

Kotak Signature Legacy

Increasing Life Cover up to age 99
Two Plan Options Legacy and Legacy Plus
Insta Payout on Claim Intimation
Free Medical check-ups and Wellness Benefits
10% first year premium discount for women

Check this Plan

Term Insurance Frequently Asked Questions

Claim Process & Settlement
Policy Basics
Premiums & Payments
Riders & Add-Ons
Customization & Eligibility

Can a term insurance claim be rejected? What are the common reasons?

Yes, a term insurance claim can be rejected. The most frequent reason is non-disclosure. This refers to concealing or misleading information concerning health, habits such as smoking, or other insurance cover. Another obvious reason is an inactive policy due to the non-payment of the premiums.

Can I register a claim online for my term insurance?

Yes, we do offer an online portal for claim intimation. The nominee may fill out the digital form and send the required documents to initiate the claim process easily online.

How long does it take to settle a term insurance claim?

The official regulation from IRDAI is that insurers must settle a claim within 30 days. This clock starts after they have received all the necessary documents. If a case needs a deeper investigation, the process can extend up to 90 days.

What documents are required for a term insurance claim?

You will be required to do basic paperwork to get started. Here are some standard documents required:

The duly filled-in claim form.
The original policy document.
The death certificate issued by a competent authority.
The claimant's (nominee's) ID and address proof.
Bank account details of the claimant (cancelled cheque or passbook copy).
Medical records or hospital reports, if applicable.
FIR and post-mortem report, in case of accidental death.

What is the process for filing a term insurance claim?

There are four major stages of the process. To begin with, the applicant should give notice to the company regarding the demise of the policyholder. This intimation can be done online, through email, or by visiting the branch office. Second, the claim form is submitted along with all the necessary documents. Third, the insurance company verifies the submitted documents. Lastly, once verified, the claim is approved, and the insurer transfers money into the bank account of the nominee.

What is the time limit to file a claim under a term insurance policy?

There is no specific time limit to file a claim. Nevertheless, it is strongly advisable to initiate the claim to the insurer as early as possible in order to achieve a hassle-free and fast settlement.

Is there any waiting period before a claim can be made?

Generally, death due to natural causes or accidents will not have a waiting period in a term insurance policy; coverage starts from day one. However, there is a waiting period for death by suicide, which is normally not covered during the first year of the policy.

Can I file a claim if the policyholder passes away during the waiting period?

This depends on how the death occurred. In case the death is caused by natural causes or an accident, then the claim can be paid to the policyholder. The claim will, however, be declined in case death occurs by suicide within the initial 12 months and 80% of the premium paid is refunded to the nominee.

Can the claim be processed if the life insured’s cause of death was suicide?

Yes, the claim made for death due to suicide is usually paid out, provided the death occurred after 12 months from the inception or the revival of the policy. In case of suicide occurring during the first year, the claim is rejected, and the insurer usually returns a fraction of the premium that has been paid.

10.

What happens if the claim is denied? Can I appeal the decision?

Yes, it is possible to appeal in case your claim is refused. In the first place, the grievance redressal unit of the insurance service should be addressed. You can always upscale it to the Insurance Ombudsman or a consumer court in case of dissatisfaction in regard to their action.

11.

Do I need to provide medical documents when filing a claim?

Yes, while claiming, it is often required to provide medical documents. The reports, which would help the insurer establish the cause of death and ultimately file a claim faster, are the certificate of the doctor, hospitalization documents, discharge summary, and diagnostic reports.

How many years do you need to pay for term insurance?

It depends on the payment option that you choose. You can opt to "pay regularly" throughout the policy term, or "pay for a limited period" (like 10 or 15 years), which coverage continues for the full term, or even "pay once at the start" with a single premium. Your coverage can last up to the age limit offered by your insurer (ideally 75 to 85 years), even if you stop paying earlier under limited pay. Your insurer will specify the exact terms and conditions for your chosen payment option in the policy document.

What is the tenure of a term insurance policy?

The simplest definition of tenure is the number of years that the term insurance covers you. It may be between 10 years to 40 years. To finalize a duration that works for you, assess your needs and goals. For example, most individuals buy coverage that expires when they retire or when their children grow and can support themselves. The tenure options available to you will be specified in the policy document by your insurer.

What happens to the term insurance policy if the life insured dies?

If the life insured passes away during the policy term, the insurance company pays the full death benefit to the designated nominee.

What happens to my term plan coverage when the policy term ends?

When the policy term ends, your life cover stops and the policy terminates. There is no payout unless the plan offers a specific maturity or return of premium benefit. Plans with Return of Premium (ROP) will pay back the eligible premiums as per the product terms.

What happens if the life insured survives the policy term?

For a pure term plan, there is no payout if you survive the policy. If you outlive the plan, there is no maturity payout. The only exception is if you have chosen a “return of premium” plan, where the premiums you paid are refunded.

Will I get any maturity benefit/survival benefit at the end of my policy term?

No. A standard pure-term plan has no maturity benefits. The death benefit is its only function. With a return of premium feature, however, you get your paid premiums back once the term ends.

What if the nominee, who has been appointed, dies while holding the policy?

If your nominee passes away, you must update the policy immediately. This simple action prevents legal complications and ensures the death benefit goes to the correct person without delay.

What are the steps involved in filing a term insurance claim?

After the policyholder dies, the nominee is required to notify the insurer. They need to submit the documents, such as a death certificate, and a claim form. Insurer reviews documents, conducts final assessment, processes payment.

Can I change my nominee after buying term insurance?

Yes, insurers allow nominee updates anytime. Submit a written request or form and make sure the updated details are officially recorded. Disputes and delays during claim settlement are avoided this way.

10.

Does a term insurance plan pay out for death by suicide in India?

Yes, plans in India cover death by suicide after a certain waiting period. If death occurs after the first 12 months, the claim is typically paid. You should always check your policy for the specific clause. It's best to verify this clause directly in your policy document, as terms can vary by insurer.

11.

How to process the term insurance claims?

The nominee starts the process by notifying the insurance company. They must provide the required claim form and all supporting documents. The insurer verifies the details and releases the claim amount to the nominee's account.

12.

Which insurance plan is more beneficial, term insurance or traditional life insurance?

The choice depends on your financial objective. The best term insurance offers the highest death benefit for the lowest cost, making it pure family protection. Traditional life insurance combines protection with savings, but the coverage is much lower for a higher premium.

How can the premium of term insurance be estimated?

Your premium is a direct calculation based on your age, the coverage amount, policy length, and your health. Insurers offer online calculators that provide a quick and accurate estimate.

How to pay term insurance premiums online?

You can use any standard online payment method. Net banking, debit and credit cards, and UPI are all accepted directly on the insurer's website or mobile app.

What are the payment options in a term insurance plan?

Payment options are flexibile. You have options to pay your premiums annually, semi-annually, quarterly, or monthly.

Who decides the premium for term insurance?

The insurance company sets the final premium. It is a precise calculation of your risk based on factors like age, medical history, and lifestyle.

Should you opt for limited pay or a regular pay-term insurance plan?

This is a strategic choice based on your financial situation. Limited pay plans have higher premiums but are finished in a shorter period. Regular pay term insurance plans spread smaller premium payments over the entire policy term.

How can I avail tax benefits on a term plan?

Premiums qualify for tax deductions under Section 11 read with Schedule II(2) and Section 123 read with Schedule XV and Section 126. Furthermore, the payout that your family receives is tax-exempt under Section 202. You should consult a tax advisor for personalized guidance, though.

What happens if I miss paying premiums during the policy term?

If you miss your premium payments, your policy lapses and coverage ends. A grace period of 15-days grace period in monthly mode and 30 days from the due date for payment of premium for the yearly, half-yearly and quarterly mode exists for payment. During this period the policy will be considered to be in-force with risk cover as per the terms of the policy. You can reinstate the lapsed policy but it requires paying all overdue premiums.

What is a critical illness rider?

A critical illness rider is a vital policy add-on. It pays you a large, tax-exempt cash sum if you are diagnosed with a major illness like cancer or suffer a heart attack.

Should I opt for riders with term insurance?

Riders are optional but provide essential protection. For example, a critical illness rider or accidental death rider can provide you with extra financial support during difficult situations at an additional cost.

What is the premium for riders?

The premium for a rider is calculated separately. It depends on the type of rider, the amount of coverage it provides, your age, and the policy term. The insurer provides an exact quote for any rider you add.

What are the benefits of purchasing a rider?

A rider is built to handle specific risks like a critical illness or a major accident. This adds another layer of financial defense and makes your coverage much more powerful.

Is it necessary to buy a rider with term insurance?

No, buying a rider is not a requirement. It is an optional enhancement to your basic policy. Riders are add-ons that you can choose to include for extra coverage based on your personal needs and risk assessment at an additional cost.

Can I include accidental death coverage in my term insurance policy?

Yes. Most insurers offer an accidental death benefit rider. You can easily add this to your term insurance policy. This rider provides a significant additional payout to your family if your death is the result of an accident.

Does term insurance cover critical illnesses?

A standard term plan does not cover critical illnesses. You must add a specific critical illness rider. This add-on provides a lump sum cash payment if you are diagnosed with a covered illness during the policy term.

Is disability covered under term insurance?

Disability is not automatically covered when you get a normal term insurance plan. To get this protection, you need to add a disability rider. This ensures your financial protection and provides you with the necessary support if an accident leaves you permanently or partially disabled and affects your ability to earn.

Can I change the sum assured during the policy term?

Yes, many policies allow you to change the sum assured. An increase in coverage will also mean a higher premium. Certain term plans also let you reduce the sum assured if your financial needs decrease later on.

Can I cancel my term insurance policy?

Yes, you can cancel your term insurance policy. But, in a regular term plan, you will not get back your premiums after cancellation. The only exception is if you have a "return of premium" plan, where the premiums may get refunded at maturity. It is always best to check with your insurer for the exact cancellation process.

Is there a term plan for smokers?

Yes, smokers can buy term plans. Insurers have specific policies for smokers, but the premiums will be higher. The rate is higher because smoking is a major health risk.

Can I buy term insurance if I have a pre-existing medical condition?

You can buy term insurance if you have a pre-existing condition. But you need to declare your medical condition on the application. The insurer reviews your file and sets a premium. Concealing health conditions invalidates the policy; therefore, you should not do it.

Can I cancel my term insurance policy and get a refund?

You can cancel your term insurance policy at any time. However, a refund is only applicable during the free-look period — a 30-day window from the date you receive your policy document. Once this period lapses, the premiums paid are not refunded. Refer to your policy document for the exact free-look period and cancellation terms applicable to your plan.

Can I change the beneficiary or nominee after purchasing the policy?

Yes. The nominee on your policy can be changed. This is a standard right you have for the entire policy term. You simply submit the correct form to the insurer. This action directs the payout to the person you choose and no one else.

How can I revive a lapsed term insurance policy?

A lapsed policy is not gone forever. Insurers provide a revival window for five years. To bring the policy back, you pay all the missed premiums and any penalty fees. The insurer will likely require a new medical checkup before coverage is restored.

Is it possible to increase the sum assured during the policy term?

Some policies have a special feature to increase cover when your life changes, like marriage or a new child, without a new medical test. If your policy does not include this specific benefit, your only option for more protection is to purchase an entirely new policy.

Is there an option to convert my term insurance into a whole life insurance policy?

You can only convert your policy if it was sold with a specific convertibility option. This built-in feature is your ticket to switch to a whole life plan without another medical exam. The only place to confirm you have this option is in your original policy contract.

10.

What are the eligibility criteria for purchasing a term insurance policy?

The term insurance eligibility requirements are clear. An applicant needs to be between 18 and 65 and prove they have a steady income. A medical examination is not optional; it is a required step that confirms you are insurable and locks in your final premium.

11.

What happens if I don't pay my premiums on time?

When you miss a premium, you get a 15-day grace period in monthly mode and a 30-day grace period for yearly, half-yearly, and quarterly modes. If you do not pay within that window, your policy lapses. This means all your coverage ends immediately, and the death benefit for your nominee is gone. You can still revive your lapsed policy within five years from the date of the first unpaid premium. Refer to your policy document for the exact grace period and revival terms applicable to your plan.

Why Should You Buy a Term Insurance Plan in 2026?

A term insurance plan is a non-negotiable part of financial planning. It delivers security and peace of mind when your family’s future is on the line. These are the core reasons why you should buy Kotak e-term plan:

To Protect Your Family’s Financial Future

Your income supports your family's daily life and their biggest goals. In the absence of that income, a term plan can provide the ultimate protection. It delivers a great payout designed to cover every essential cost like household bills and school fees, ensuring their life continues without any financial shock or disruption to their plans.

To Secure Your Assets from Financial Liabilities

Your debts should not become your family's legacy. Liabilities like a home loan, car loan, or education expenses can become an impossible burden for your family to manage. A term life insurance plan delivers a lump sum payment that is more than capable of clearing these debts, which ensures the assets you acquired are not sold off.

To Reduce Lifestyle and Health Risks

Modern life comes with health risks that can create immediate and severe financial pressure. Following a critical illness diagnosis, term insurance provides a crucial lump sum of capital. This funding handles the crisis directly, protecting your family's long-term goals and keeping their savings intact

To Be Financially Prepared for Life’s Uncertainties

The world is not predictable, and the COVID-19 pandemic proved that financial preparedness is not optional. A contingency plan like COVID-19 term insurance becomes absolutely essential in these moments. It provides the immediate cash your family needs to overcome any major crisis so that they can manage without financial stress or selling any assets.

Uncertainty Arising Due to Lifestyle Diseases

Lifestyle diseases bring with them the risk of sudden, unplanned medical bills that can destabilize a family's finances. A strong term plan is the financial reinforcement you need in your absence. It provides the critical funds to manage these medical costs, ensuring your family maintains complete financial stability through any health challenge.

Customizable Coverage with Option Riders

A standard term plan is just the start. Real protection is customized protection. You build a superior safety net by adding specific riders to your plan. Including coverage for critical illness, accidental death, or a waiver of premium creates enhanced, multi-layered protection from a single, efficient policy.

To Avail Tax Benefits

A term plan is a smart financial move. You get significant term insurance tax benefits. Your premium payments directly qualify for valuable deductions under Section 11 read with Schedule II(2) and Section 123 read with Schedule XV and Section 126 of the Income Tax Act, 2025. Furthermore, the death benefit payout your family receives is almost always tax-exempt under Section 202.

Why is Term Insurance Important?

The importance of a term insurance plan lies in its ability to provide a substantial financial safety net for your dependents in your absence. This protection plan acts as a replacement for your income, ensuring that your family can maintain their lifestyle, meet their financial goals, and clear any outstanding debts without compromise.

Here are Some of the Financial Realities if You Do Not Have a Term Insurance Plan

The average Indian household carries multiple simultaneous liabilities, like a home loan, personal loan, business debt or financial goals like a child's college education or a daughter's wedding. Your income is the thread holding all of this together. Without a term plan, here is what your family could realistically be facing in your absence:

Immediate Loss of Income

Their primary source of household income would vanish, making it difficult to cover daily expenses.

Pressure to Repay Debts

Any outstanding liabilities, such as a home loan or car loan, would become their responsibility to repay.

Compromised Future Goals

Long-term goals like a child's higher education or marriage could be jeopardized due to a lack of funds.

Financial Instability

The overall financial stability of the family would be at high risk, potentially forcing them into a cycle of debt.

The Mathematical Logic: The Simplified Calculation of Term Insurance

Here is a quick way to think about how much cover you actually need and why the premium is far more reasonable than most people assume. The amount of term insurance you need is not a random figure; it is based on a concept called Human Life Value (HLV). A simplified way to calculate this is to estimate the total future income you would have earned until retirement.

For example, a healthy, 30-year-old non-smoker wants to secure his family's future with a ₹1 crore term insurance policy for a 30-year term (covering him until age 60).

The approximate annual premium for this policy would be around ₹9,000.
The total premium he would pay over the entire 30-year policy tenure is: ₹9,000 x 30 = ₹2,70,000.

Now, for a total investment of just ₹2,70,000, spread conveniently over three decades, he is guaranteeing a tax-exempt payout of ₹1 crore to his family in his absence. This means the financial protection offered is more than 37 times the total premium paid. In this way, a term plan helps secure the financial stability of your family in your absence.

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Who Should Buy a Term Insurance Policy?

Let us take a look at who should buy a term insurance plan: anyone with financial dependents, such as parents, individuals with senior parents, professionals with debts, or those nearing retirement.

Parents

Family planning requires substantial finances. A term insurance for parents can secure your children’s future in your absence. The death benefit covers education expenses, marriage costs, and daily necessities.

Professionals

Professional degrees require substantial loans. Term plans, such as ₹50 lakh term insurance, ₹30 lakh term insurance, or ₹20 lakh term insurance, provide adequate coverage to settle educational loans, preventing debt transfer to parents who co-signed loans.

Retirees

If you are approaching retirement, term insurance plans can provide peace of mind. It ensures that your family members will be financially protected in your absence and can pay off any remaining debts.

Taxpayers

Tax efficiency transforms term insurance from pure expense into partially subsidized protection through an array of deductions under the Income Tax Act, 2025. For instance, Section 123 read with Schedule XV deductions reduce taxable income, and Section 202 exempts the death benefit from taxation.

Working Women

Today, women support families not only emotionally but also financially. Term insurance for women allows them to secure the future of their family, so their family members and the dreams of their little ones are protected.

Housewives

Housewives may not earn a paycheck, but their contribution to the family highlights the importance of term insurance for housewives. A separate term plan for the wife and husband offers greater protection and tax benefits on both policies.

Young Individuals

At a young age, most policyholders have fewer health issues and lower risk profiles. Hence, they can benefit from affordable premiums to secure long-term financial protection for their future families and dependents.

Self-employed Individuals

Self-employed people cannot avail of the life insurance benefits offered by their employers. In such cases, term insurance for self employed individuals is a must to keep their families financially sound in case of untimely death.

Non-Resident Indian (NRI)

Term insurance for NRI is essential for NRIs with families or other financial interests in India to ensure protection for loved ones back home. It can take care of family needs anywhere in the world

Senior Citizens

Term insurance for senior citizens can help elderly individuals who still have dependents or who want to leave behind a financial legacy. Despite higher premiums, term insurance policies can offer financial support for the surviving family members.

When Should You Buy Term Insurance?

Age is the single biggest multiplier on an insurance quote. The younger you are, the cheaper the policy. But while your age dictates the math, your life stage dictates the urgency.

In Your 20s

You might not have dependents yet, but you likely have student loans or aging parents. Buying now locks in a comparatively low premium for the next 30 to 40 years. A healthy 25-year-old can often secure a ₹1 crore cover for less than ₹600 a month. It is the cheapest financial safety net you will ever buy.

In Your 30s

This is the peak acquisition phase. You are buying a home, starting a family, and taking on debt. If you do not have term insurance now, you should get it today. The financial impact of an unexpected tragedy during these years is devastating without a solid backup plan to replace your income.

In Your 40s

Your income is likely higher, but so are your liabilities, such as mortgages and children’s higher education. Premiums will be noticeably steeper here because the statistical risk of lifestyle diseases begins to creep in. You still need coverage, but you will pay a premium for waiting.

In Your 50s

The strategy shifts in your 50s. You might only need a policy term of 10 to 15 years to bridge the gap until your retirement kicks in. Premiums are significantly higher in this bracket. The goal here is strictly wealth preservation and clearing any lingering debts before your active working years end.

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7 Key Life Situations to Purchase Term Life Insurance

Certain life events make it ideal to buy a term life insurance policy. You should consider getting insured under the following circumstances:

Health Conditions

You should enroll when you are comparatively healthy, as you may be able to obtain low charges. It is prudent that you take term insurance at an early age in case you are vulnerable to any diseases or in case your family has a history of diseases.

Starting a Family

Once you are married to someone or preparing to have children, you need to consider the financial stability of the ones you love. A term policy protects your partner and future children in the event of your death.

Taking on Debt

In case you have availed a home loan, car loan, or any major financial obligation, you should consider a term life policy. It brings the assurance that your family does not have to worry about paying debts without you around.

Growing Your Family

Having a child in your life is the most wonderful experience, as well as a heavy financial investment. A group term life insurance provides your family with extra security to cover costs such as education, medical costs, and expenses of day-to-day living.

Changing Jobs or Careers

You may lose your employer-sponsored life insurance coverage if you switch jobs. Such issues can be avoided by an individual term life policy, as it has consistent coverage and does not matter where you work.

Estate Planning

If you are considering leaving an inheritance or ensuring that your assets are passed on smoothly to your loved ones, term insurance is a smart choice. It can provide the funds needed for estate taxes or other expenses.

Reviewing Existing Coverage

In case it has been some years now since you got life insurance, it would be good to review your coverage. You might require more extensive protection due to changes in your family, your responsibilities, or an increase in your income.

How Much Term Cover do I Need?

Figuring out the right amount of term coverage is a critical step. The goal is to choose a sum large enough to completely protect your family from financial hardship. Choosing the right sum to protect your family is not guesswork. There are established formulas to pinpoint the exact amount.

Simple Guideline

A straightforward method is to buy enough coverage to eliminate every single debt. This includes your mortgage, car loans, and any outstanding credit card balances. On top of that, add a significant buffer to cover your family’s living expenses for several years. This is a solid foundation for your term plan.

Human Life Value

This is a more precise calculation of your economic value to your family. The calculation inputs your age, income, and any current insurance to produce a hard number. An online HLV calculator will generate the personalized figure you need for the right term coverage.

D.I.M.E

The D.I.M.E. formula is a comprehensive way to calculate your exact needs. It stands for Debt, Income, Mortgage, and Education. Total up all debts, the full mortgage balance, and the future cost of education for your children. Then, add the annual income you need to replace, multiplied by the number of years your family needs support. This formula will help you get a good enough idea about how much term cover you need.

Income Replacement

This approach calculates the exact financial support your family would need. Start with your in-hand annual income. From that, you must subtract all your personal expenses, including costs for commuting, work lunches, and personal purchases. The number you are left with is the actual income your family lives on. Multiply this amount by the number of years remaining until your retirement to find your target sum assured.

10-15X Annual Income

The 10-15X rule is a foundational benchmark for calculating your term insurance needs. Take your annual income and multiply it by 15. This gives you a clear target for your sum assured. It is a proven, non-negotiable starting point for complete financial security.

What is the Ideal Duration of Term Life Insurance?

Your policy term must cover the exact period your family depends on your income. Your insurance coverage must not end until your biggest debts are settled and your dependents are on their own feet.

As a rule, your term plan should protect you until retirement age, usually between 60 and 65. At that point, your home loan should be paid off and your children will be financially stable.

Determine your correct term with these key questions:

When will you retire?
If you are 30 and plan to retire at 60, get a policy for at least 30 years.
When are your major loans paid off?
A 25-year home loan demands a 25-year policy term.
When will your youngest child be self-sufficient?
Your plan must cover your family until your last child completes their education and secures a job.

By aligning your policy term with these milestones, you ensure your family is protected during their most financially vulnerable years.

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Types of Term Insurance Plans

Term insurance plans vary in terms of suitability to different needs and life events, and range from an initial basic cover to an expanded cover customized with riders. Understanding the difference between various types of insurance plans, such as joint vs individual term insurance plans, can help you make an informed decision.

Level Premium Term Insurance Plan

With a level premium term plan, both the death benefit (sum assured) and the premium you pay are locked in and remain constant for the entire policy duration. This means the premium you are quoted at the start of the level term insurance will not increase as you get older or if your health changes.

Year Renewable Term Insurance

This type of term plan provides coverage for a one-year period at a time. At the end of the year, you have the option to renew the policy for another year, usually without needing a new medical exam.

Increasing Term Insurance Plan

An increasing term plan is a type of dynamic policy, where the sum assured amount grows progressively over the years. The death benefit can have an upper cap on the sum assured's growing amount. This policy, just like the basic term policy, does not give any maturity benefits but does have life coverage.

Decreasing Term Insurance Plan

In decreasing term policies, the death benefit amount goes on declining gradually as the policy term is about to end. Such policies usually have affordable premiums because their core purpose is to cover some specific debt or loans.

Term Policy with Return of Premium (TROP)

In a TROP plan, you can get back all the premiums paid throughout the policy term after the plan expires. All the premiums are returned to you under this arrangement. TROP plans also provide a maturity benefit, apart from life coverage being provided if you survive the policy term.

Term Insurance with Critical Illness Cover

Term insurance can be coupled with critical illness cover, where the policyholder or the beneficiary can receive a lump sum upon a diagnosis of a critical illness like cancer, heart attack, or stroke. This may assist in the expensive medical treatment of acute diseases.

Term Insurance with Accidental Death Cover

This kind of term insurance comes with an accidental death rider, which means that the policyholder gets an extra payment if they die in an accident. The accidental death benefit is usually in addition to the basic sum assured, which means that it gives the policyholder's family extra financial protection in case of an accidental death.

Convertible Term Insurance Plan

A convertible term plan gives you the flexibility to switch to a permanent life insurance plan (like whole life or endowment) during the policy term. This conversion typically requires no additional medical exams, making it ideal if your financial responsibilities or protection needs evolve over time.

Joint Life Term Insurance

Two people, usually spouses or partners, are covered by a single joint life plan. The death benefit is usually paid out when the first policyholder dies, but some plans keep covering the survivor. It offers an affordable way to make sure that shared financial responsibilities are safe in case of an unexpected loss.

Benefits of Term Insurance Plans in India

Kotak Life offers a range of term insurance benefits built to secure your finances and protect your family. The coverage is powerful, and the features are adaptable. These plans are your shield against financial uncertainty.

Affordable Premiums for Greater Value

Term insurance delivers massive coverage for a low premium. The younger you are when you buy, the lower your premium will be. That low rate is locked in for the entire policy, giving you decades of affordable protection.

Life Cover with Guaranteed^∞ Payouts

The payout from a term plan is a guarantee. When the life insured passes away, the nominee receives the full sum assured. This payment gives your family immediate financial certainty to manage all essential expenses without stress.

Flexible Sum Assured Payout Options

The death benefit can be paid as a single lump sum, a regular monthly income, or a combination of both. This gives your family the right kind of financial support when they need it the most.

Return of Premium Benefit

Some term plans offer a return of premium features. This option refunds every premium you paid if you outlive the policy term. You get the full security of a life insurance policy, but with a savings component that ensures your investment is not lost.

Flexibility

You have complete flexibility over the policy term and the coverage amount. You can choose a small ₹5 lakh term insurance or ₹10 lakh term insurance for basic needs. For total protection against all of life's major expenses, you can secure a ₹1.5 crore term insurance or a ₹3 crore term insurance policy.

Future Planning

A term plan is a tool for your financial future. It creates an income stream for your family, pays off estate taxes, and clears large debts. A powerful term life insurance plan, like a ₹2 crore term insurance policy, is the bedrock of your family's future security. For lifelong coverage, whole life insurance is the better choice.

Comprehensive Critical Illness Coverage

Adding critical illness riders enhances your protection. These add-ons deliver a large, lump sum payment upon diagnosis of a major illness like cancer or a heart attack. That money pays for hospital bills and keeps your family's savings safe.

Disability Support and Benefits

An accident can cause a lifelong disability and destroy your income. Disability insurance riders are your financial safety net. If you are unable to work, the rider pays out, covering your daily needs and medical care. It protects your family from financial collapse.

Financial Security in Case of Unfortunate Events

The core function of term insurance is to provide a massive lump sum payment if the insured person passes away. This money is a financial shield that empowers your family to maintain their living standard, eliminate all debts, and secure their future.

Features of Term Insurance Plan

A term insurance policy comes with important features that provide affordable and reliable financial protection for you and your loved ones.

Multiple Payment Modes

Most term insurers let you pay premiums monthly, quarterly, half-yearly, or annually, whichever fits your cash flow. Beyond frequency, you also get to choose how long you pay. Regular pay means you pay throughout the policy term. Limited pay lets you finish payments in a shorter window (say, 10 or 15 years) while the coverage continues for decades. Single premium term insurance lets you pay one upfront payment for lifetime cover.

Policy Terms and Premiums

Term insurance lets you decide the duration of your cover, usually anywhere from 10 to 40 years, with some insurers extending this to whole-life cover up to age 99. Your premium is locked in at the time of purchase and does not increase as you age.

Protection from Liability

Term insurance offers massive coverage against liabilities such as home loans, personal loans, and other debts. In the case of the untimely demise of the policyholder, this death benefit shall be used to help pay pending debts and, hence, save the surviving family members from the financial burden.

Save Tax U/S 123 read with Schedule XV & 126 of Income Tax Act, 2025

Other than Section 123 read with Schedule XV, the premium paid for any rider that covers health-related expenses, such as critical illness riders, is allowed as a deduction under Section 126. This provides additional tax savings and makes a term insurance investment tax-efficient.

High Maturity Age

Most of the term insurance plans extend coverage up to a considerably high maturity age of 75 or even 100 years. This ensures long-term financial protection, peace of mind, and financial security for your loved ones, irrespective of when the event of death may occur.

Critical Illness Cover

These plans provide a term policy that offers a lump sum payout on the occurrence of any of the critical illnesses specified in the policy document. Such a payout can be availed to compensate for loss of income, medical expenses, and other financial expenses throughout the recovery period.

Return of Premium on Maturity

A term plan with return of premium feature pays back all the premiums if the policyholder survives the policy term. This provides a financial cushion and a certain savings element that was lacking in pure protection given by term insurance.

Accidental Death and Disability Cover

Accidental death and disability cover riders provide extra benefits in the event of death or disability due to an accident. The income benefit on accidental disability rider provides an additional payout, while an accidental disability rider allows one to seek financial support in cases of permanent or temporary disability through the coverage of treatment expenses and loss of income.

Term Insurance Riders offered by Kotak Life

Kotak Life Insurance offers riders to enhance your base term policy. They provide powerful benefits in specific situations. Here are three term insurance riders to consider for superior coverage:

Waiver of Premium Due to Permanent Disability

This rider waives the future premiums on certain occasions when the policy owner is permanently disabled due to an accident or sickness. The policy will continue to work, and the sum assured will get paid in a calculated manner. It gives economic security and durable insurance in case the income-earning ability of the insured person is affected.

Accidental Death Benefit

An accidental death benefit rider is an add-on that pays an extra amount of money to the nominee in case the policyholder dies in an accident. This money is over and above the base sum assured, offering added financial help to the family against unforeseen circumstances.

Critical Illness Cover

This rider is designed to handle the high cost of treating a critical illness. A diagnosis of a covered illness, such as Cancer of Specified Severity or Myocardial Infarction (Heart Attack), triggers a single, tax-exempt lump sum payment. You have complete control over this money. Use it for top-tier medical care, to replace lost income, or to manage any other expenses during recovery. Whether you're facing the costs of Kidney Failure Requiring Regular Dialysis or the financial impact of Stroke Resulting in Permanent Symptoms, this rider helps provide financial support during critical times.

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Why is Critical Illness Rider Important with Term Insurance?

A critical illness rider is not just an option; it is a financial necessity. The medical costs associated with a major illness can destroy your family's savings and financial future. These facts show why this rider is essential.

Provides a Lump-Sum Payout

A critical illness rider delivers a cash payout upon diagnosis, unlike standard health insurance. This money is paid directly to you, and no limitations are placed on what you can do with it.

Maintains Your Financial Stability

A severe illness means you cannot work and your income disappears. This rider’s payout replaces that lost salary and keeps your life on track. Your family's daily expenses, loan payments, and children’s school fees are all covered.

Covers Costs Beyond Hospitalization

A major illness creates expenses your standard health policy may never cover. These are the costs of post-hospitalization care, a private nurse, ongoing tests, and expensive medications. The rider's funds handle these immense financial burdens.

Keeps Your Savings Intact

A medical crisis must not wipe out your life savings. This rider serves as a firewall for your biggest financial goals. It protects your retirement fund and your child’s education account from being drained by a single health event.

Enables Better Medical Care

A large cash payment gives you power and choice. It provides access to the best medical treatments available, without compromise. You can consult leading specialists and choose premier hospitals. Your only job is to recover, free from financial stress.

Payout Options in Term Life Insurance?

How your family gets the money is a critical decision. You must understand the available payout structures to make the right choice. These are your options for the term insurance payout:

One-Time Lump-Sum Payout

With this option, your nominee gets the entire death benefit in a single payment. A term insurance policy for ₹75 lakh pays out ₹75 lakh directly to your family after the claim is processed.

One-Time Lump-Sum Payment with Fixed Monthly/Annual Payouts

This is a combination approach, in which part of the money is paid up front as a large lump sum and the remainder is distributed as a fixed, steady income stream over many years.

One-Time Lump-Sum Payment with Increasing Monthly Payout

A portion of the benefit is delivered as a lump sum payment. The rest is provided as a regular monthly income that automatically increases every year. This is the best defense against future inflation.

Difference Between Term Life Insurance and Whole Life Insurance

While both term life and whole life insurance provide a death benefit, they are fundamentally different products designed for distinct financial goals. Understanding these differences is key to choosing the plan that best aligns with your needs.

Feature	Term Life Insurance	Whole Life Insurance
Primary Purpose	It is a pure and simple financial protection plan.	It is a combination of financial protection and a savings/investment component.
Coverage Duration	Coverage is for a fixed, pre-defined period (e.g., 10, 20, 30, or 40 years). The policy expires at the end of the term.	Coverage lasts for the entire lifetime of the insured person (typically up to the age of 99 or 100).
Premium Cost	Premiums are significantly lower and more affordable, as you are only paying for the risk cover.	Premiums are substantially higher, as a part of the premium funds the life cover and the rest is invested to build a cash value.
Death Benefit	The sum assured is paid out only if the policyholder's death occurs within the specified policy term.	The death benefit is guaranteed to be paid to the nominee, regardless of when the policyholder passes away, as long as the policy is active.
Maturity / Survival Benefit	There is no payout if the policyholder outlives the term. The policy simply ends (unless it's a "Return of Premium" variant).	The policy accumulates a guaranteed "cash value" over time. This acts as a savings component and is paid out if the policy is surrendered.
Cash Value Component	There is no savings or investment component, so no cash value is accumulated.	It has an in-built savings element that grows at a pre-determined rate. Policyholders can also take a loan against this accumulated cash value.
Best Suited For	Individuals who need a large amount of life cover for a specific period (like their working years) at the most economical cost. It's ideal for income replacement and covering large liabilities like home loans.	Individuals who want lifelong protection, are looking for a guaranteed financial legacy for their heirs, and wish to use their insurance policy as a long-term, low-risk savings tool.

Kotak e-Term vs. Traditional Insurance

Parameters	Kotak e-Term	Traditional Plans
Plan Options	3 Plan Options	Majorly 1 or 2 plan options
Affordability	Premiums start at just ₹15/day⁰	Differs from ₹20-25/day
Cost Savings	Up to 63%⁺⁺ with 5-Year Limited Pay Option on total premium	Variable as per term
Discounts	Online discounts of up to 7.5%"	Online discounts from 5-8%
Option to Exit the Plan	Yes	Allowed

⁺⁺The savings percentage is arrived at by assuming the given scenario: 18-year-old healthy, salaried, non-smoker male opts for Life Option, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The annualized premium for a 67-year policy term with regular premium payment mode is ₹7,700, i.e., total premium paid is 7,700 X 67 = 5,15,900. The annualized premium for a 5-year limited premium-paying term for the same scenario is ₹38,600, i.e., total premium paid is 38,600 X 5 = 1,93,000. Hence, the percentage savings is 62.59% [(i.e., 5,15,900 – 1,93,000) / 5,15,900].

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Kotak Life Claim Settlement Ratio

Assuming you pay for a term insurance policy, it is worthwhile to choose the services of an insurer with a good track record of making claim settlements. Claim Settlement Ratio (CSR) is one of the key indicators that demonstrate how an insurer has made efforts to keep its commitment to its policyholders and their families. Kotak Life Insurance has also managed to have an impressive claim settlement track record, offering reassurance that your loved ones’ claims will be processed smoothly during difficult times.

Kotak Life Insurance Company has an individual Death Claim Settlement Ratio of 99.50%# and a group claim settlement ratio of 99.80%#. The following is a glimpse into the claim settlement efficiency of Kotak Life Insurance in the previous couple of years.

Year	Individual Death Claim Settlement Ratio
2025-2026	99.50%^#
2024-2025	98.61%^CS5
2023-2024	98.29%^CS1
2022-2023	98.25%^CS2
2021-2022	98.82%^CS3
2020-2021	98.50%^CS4

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How to Choose a Term Insurance Plan suitable for you?

With so many insurance companies and innumerable policy options, such as short term insurance, whole life insurance, increasing sum assured plan, etc., available in the market, choosing a suitable term policy seems to be a difficult and confusing task. You need to check and compare various factors before choosing a term life insurance policy from a particular insurer. Here is how you should proceed:

1. Understanding the Importance of Sum Assured

The sum assured is the single most important number in your policy. It is the tax-exempt money your family receives if you die. The right amount lets them pay off all debts, maintain their lifestyle, and secure their future.

2. Assessment of Your Insurance Needs

Calculate your true insurance needs with precision. Your age, income, and number of dependents all factor into the final number. A young professional needs less coverage, whereas the family with a mortgage and other loans needs maximum protection.

3. Decide the Policy Tenure

Your policy term must cover you until your biggest financial responsibilities are gone. If you are in your 30s, choose a tenure that protects your family until the children are financially independent. This guarantees their needs are met.

4. Check the Sum Assured

The sum assured must be large enough to replace your income and clear all outstanding loans. A larger payout means a higher premium. Your task is to find the perfect balance between what your family needs and what you can afford.

5. Check the Premium Payment Structure

You can pay term insurance premiums in a single payment, yearly, or monthly. Match the payment frequency to your income. A steady salary works well with monthly payments, while irregular income may suit a yearly schedule.

6. Read the Policy Terms and Conditions

You must read the policy's fine print and understand every exclusion, the waiting periods, and the term insurance grace period. Even a simple online search for a phrase like "what is term insurance in Hindi" can provide vital clarity. This knowledge protects your family from a denied claim.

7. Check the Claim Settlement Ratio

Only consider insurers with a high Claim Settlement Ratio. It is proof of the company's reliability in paying claims. Kotak Life, for instance, has an individual death claim settlement ratio of 99.50%^# for the year 2025-26, which demonstrates a strong commitment to policyholders.

8. Assess Optional Riders Available

Riders are powerful upgrades for your base policy at an additional cost. Options like critical illness, accidental death, and waiver of premium add huge layers of financial protection. Add the riders that address your personal risks to build a comprehensive plan.

9. Compare Multiple Quotes

Before making a final decision on a suitable term policy, you should compare multiple quotes from different insurers. Premiums, features, and available riders are never the same. Comparison is the only way to find the term plan suitable for your needs.

10. Check Solvency Ratio

The solvency ratio measures an insurer's long-term financial health. A high ratio is non-negotiable because it shows the company can pay claims decades from now. Kotak Life Insurance has a solvency ratio of 2.21%^$ as at 31^st March, 2026, signaling a rock-solid financial position.

11. Consider Quality of Service and Online Availability

Assess the insurance provider's service quality, such as customer support, efficiency in the claim process, and ease of accessibility to information about the policies. You should choose insurance companies that support policyholders with online services so that you can easily and conveniently manage your policy.

12. Opt for a Term Insurance Plan with Multiple Payout Options

Your plan should give you control over how the money is paid out. A large, lump-sum payout clears major debts in one go, whereas a recurring monthly payout provides a steady replacement for your lost income. Choose the payout option that delivers the greatest long-term security.

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Common Misconceptions About Term Insurance

Term Insurance Doesn’t Offer Any Returns:

Many believe term insurance for family is a waste of money because it doesn't provide cash value. However, its primary purpose is to offer financial protection to your family through a death benefit.

Health Insurance is Enough:

People often think health insurance covers all needs. While it pays for medical expenses, it doesn't provide financial support to your family if you pass away. Term insurance specifically secures your family’s financial future.

Smokers or Individuals with Health Issues Cannot Get Term Insurance

Insurance companies offer term insurance for smokers as well as for those who have existing health issues. However, such individuals should disclose all information while buying the plans and may be required to undergo additional medical test for term insurance. Furthermore, the term insurance smokers vs non-smokers comparison reveals a significant difference in premiums.

Term Insurance is Too Expensive

There is a common belief that term insurance premiums are high. In reality, term insurance is one of the most affordable life insurance options, especially for younger individuals in good health.

You Can Get Term Insurance Later

Some delay purchasing term insurance, thinking they can buy it later. However, premiums increase with age, and health issues may arise, making it more difficult or expensive to get coverage later.

Term Insurance is Only for Breadwinners

Many assume only the primary income earner needs insurance. In reality, anyone contributing to the household, whether financially or through caregiving, should have coverage to protect their family’s standard of living.

Things that Influence Term Insurance Premium

There is an array of factors that can influence the premium of term insurance plans; therefore, it is important to understand the various factors that impact the term insurance premium:

Age

The younger one purchases the term policy, the less they have to pay in premiums. The younger individuals are considered healthier and have, in addition, a longer life expectancy; hence, they are less risky to insure.

Lifestyle Choices

Your premiums can be increased due to certain habits, such as smoking or drinking in excess. These lifestyle habits increase the risk to health and thus the insurance companies raise the premiums to deal with the expenses of possible claims.

Sum Assured

As your sum assured increases, your premium will also increase with it. For example, going from ₹50 lakh to ₹1 crore will lead to an increment in the premium amount.

Occupation

Occupation matters while determining your premium. Hazardous employment in construction, mining, or aviation attract premium surcharges. This adjustment in pricing is due to higher mortality exposure in the workplace.

Gender

As per the statistics, the life expectancy of women is longer as compared to that of men. Consequently, women tend to pay less premium compared to men for the same coverage.

Health Status

Your premium can be higher in case of any pre-existing health conditions or a history of serious conditions.

Policy Term

The duration of the policy also plays a role in premium determination. Extended coverage periods command higher premiums, as protecting yourself until age 75 costs more than coverage ending at 60.

Rider Benefits

Rider benefits are extra features that are added to a policy, like benefits for critical illness or accidental death. These make your premium go up.

Hobbies

Premiums can also be increased if you engage in adventurous activities. Skydiving enthusiasts, rock climbers, scuba divers, among others, pay more premium. Insurers assess danger levels associated with adventure sports, incorporating appropriate premium modifications that account for elevated risks.

How to Calculate My Term Insurance Premium?

Calculating your term insurance premium is a crucial first step in finding a plan that fits your budget while providing adequate financial protection for your family.

While the precise calculations are performed by the insurer's underwriting team, you can get an instant and accurate estimate using an online term insurance calculator. It is important to calculate term insurance premiums before buying term insurance.

Here are the primary factors that influence your term insurance premium:

Your Age:

This is one of the most critical factors. The younger and healthier you are when you purchase the policy, the lower your premium will be.

Sum Assured:

This is the total amount that will be paid to your nominee in your absence. A higher sum assured means a higher level of protection, which naturally corresponds to a higher premium.

Policy Term:

This refers to the duration for which you want the life cover to be active (e.g., 20, 30, or 40 years). A longer policy term generally means a slightly higher premium.

Health and Lifestyle Habits:

Your BMI, cholesterol levels, and past medical history can impact your premium. If your medical exam reveals high blood pressure or a family history of diabetes, the insurer adds a health loading fee. And if you rock climb, fly private planes, or smoke daily, your premium would be increased.

Optional Riders:

If you choose to enhance your base policy with optional add-ons (riders) like critical illness cover, accidental death benefit, or waiver of premium, the cost of each rider will be added to your base premium.

How to Reduce My Term Insurance Premiums?

Multiple factors set your term insurance premium, such as your age, your health, and your lifestyle. But you can control the final price. These methods will cut your term insurance cost without sacrificing your coverage:

1. Buy Early

Purchasing a term insurance plan when you are young secures a low premium and can provide you with longer coverage. Insurance providers view the younger members as their best deals since they are less of a risk. Example: A 25-year-old male in good health may perhaps pay ₹9,500 per annum on a sum assured of ₹1 crore. One who is 35 years old may pay ₹15,000 for the same plan.

2. Maintain a Healthy Lifestyle

Your lifestyle and health records directly affect your insurance policy rate. Simply by not smoking or drinking alcohol and ensuring that you are fit, you can reduce your insurance costs by a huge margin. An example would be that a smoker may pay twice the amount a non-smoker pays as a premium. In addition, by controlling conditions such as diabetes or hypertension, you will be able to secure lower premiums during underwriting as well.

3. Choose the Right Sum Assured, Tenure, and Premium Paying Term

Choose the sum assured on the basis of financial liabilities, such as loans, the education of your children, and monthly expenditures. You can estimate this using tools such as term insurance premium calculators. Example: A ₹1.2 crore plan would come at around ₹23/day, and a ₹2.5 crore plan would be around ₹39/day, depending on your age and health factor.

This displays how a higher sum assured, which has been carefully calculated, can be affordable, especially when you purchase early and make the right choice in time. Also, choosing a longer term of premium payment with a specific retirement age in mind can help you sustain a lower amount of premium.

4. Buy Online

Internet plans have cut the middlemen, lowering the insurer's costs of operation. Often these savings are reflected to the policyholders in the form of lower premiums. It is also a good financial choice since many insurers provide discounts on first-year premiums with an online application.

If you are interested in simplified processes and low rates, you can also find term insurance without medical tests online. These plans are meant to satisfy those who want a faster issuance with no medical formality, but they can be restricted in terms of coverage and usually have lower limits.

5. Compare Policies Online

Every insurer has different premiums, riders, and policy terms, thereby, you should never skip the comparison step. Use online tools to see your options side by side. This is the only way to find the policy with the best benefits at the absolute lowest cost.

6. Avoid Unnecessary Riders

Every rider you add increases your premium. Only choose the ones that match your specific lifestyle and risks. A critical illness, permanent disability rider, or accidental death rider can be invaluable. If you travel constantly, the accidental death rider is a smart choice. If not, skip it and lower your cost.

Testimonials

I recently bought a Kotak Life Term Insurance plan online and received a special discount. The premium lowers from second year onwards, making their 1Cr E-Term plan very affordable. The whole process was fast and seamless, which made buying the plan really easy.

- Sameer Mere; 06/04/2025

I always thought term insurance wasn’t useful, but Kotak Life helped me realize that it’s about protecting the people I care about. One thing I specifically liked about the plan is the special exit option because if nothing happens by the time I’m 60, I’ll get back all the premiums I paid for. That made me feel secure.

- Pankaj Kumar; 04/06/2025

I bought a Kotak Life term insurance plan and received a special discount for women, along with access to the wellness app, Happy You. The app offers free doctor consultations and health tasks that earn redeemable points. This unique benefit is truly valuable, as I couldn’t find anything like it offered by any other company.

- Unmani Joshi; 06/04/2025

My experience with Kotak e-Term Plan from filling the proposal form to policy issuance has been smoother. Uploading documents is generally challenging, but it was quite easier with Kotak Life. Their portal is responsive and intuitive. Keep up the good work.

- Mukund Solanke

Buying a term plan was long due for me. I found Kotak Life, logged in on their website and I got a call from their agent. I checked my eligibility through their portal, got a quote for the premium and I was in. My family's financial security was now in my hands. Now my life is stress-free.

- Rahul Gupta

Buying a term plan online sounded like a challenge as I am not used to buying critical insurance plans online. I came across Kotak Life when someone at work recommended to buy their Kotak e-Term plan. The plan is very simple, offered me plan options and I knew exactly that this was the right plan for me.

- Pranjal Gusain

I have a good financial portfolio but there was one thing missing, a term plan. I wanted to buy term plan was to ensure my spouse's financial future and keep her ready for any financial liabilities in my absence. After considering different plans, I finalized Kotak e-Term plan since it aligned perfectly with what I was looking for.

- Shehzan Merchant

Be it my family's financial future or my little one's happiness, Kotak e-Term plan helped me secure all of it in one insurance plan. They have affordable premiums, good life cover and some rider options that helped me manage many things at once. I strongly recommend you to buy a Kotak e-Term plan asap.

- Apurva Amod Gadikar

I was looking for a term plan when I came across the Kotak e-Term plan and used their portal to calculate premium. They have a simple portal where you enter the information and get a quote. Beyond that, I just enjoyed the fact that their journey is easy to follow and their call centre team assists if you are stuck somewhere.

- Anil Kumar G

Kotak e-Term plan was one of the recommended term plan while I was researching about the same. The service by the call centre agents was good. Also, their online portal is perfect. The Kotak e-Term plan helped me to become stress-free about any financial liability that might fall on my family, after me.

- Apurva Amod Gadikar

Kotak e-Term plan was a term plan I came across in an ad while surfing social media. I could not find a better term plan. It is affordable and they have good service centre agents who help you with everything kindly and patiently. Buy a term plan if you want to live a stress-free life, save taxes and ensure your family's finance is in good hands.

- Rajaganesh Rj

A term plan is one of the insurance policies everyone should have, as per me. I bought Kotak e-Term plan and paying premiums for a year or more. The best part is it offered me flexible premium payment options that aligned with my financial commitments. Plus, they have different plan options that makes it easier for choosing the right cover as per your needs.

- Jayant Mohanrao Gaikwad

Why Does Term Insurance Premium Increase with Age?

Age is the single biggest factor that determines your term insurance premium. As you get older, the price for a new policy will increase. Buying the policy when you are young and healthy locks in the lowest possible rate for the entire term. For example, if you buy term insurance for father later in life, the cost is higher. Securing low rates early is the foundation of smart financial protection.

How Health Risks Impact Term Insurance Premiums

Your premium will account for any pre-existing health conditions like hypertension or diabetes. Even with these conditions, you can still find the right coverage. Specialized plans like term insurance for heart patients are designed for these situations. Buying your policy early is the best way to lock in favorable pricing.

The Role of Mortality Risk in Premium Calculation

Insurers use mortality risk statistics to help set life insurance premiums. Your age is a direct factor in this calculation. This is a standard, data-driven method used across the industry to determine the premium you will pay for your coverage. The higher the age, the higher the associated risk, and the higher the premium.

How Waiting Can Cost You More: A Case for Early Investment

Delaying your term insurance purchase will lead to higher premiums over time. Every year you wait, the rate for a new policy increases. By investing in a policy early, you get the benefit of lower rates and can secure extended protection for your family when it is most needed.

The Sooner You Start, The More You Save

See Your Premium

Term Insurance Premium Rates by Age

Term insurance premiums are largely determined by your age at the time of purchase. The table below outlines estimated monthly premiums for a ₹1 crore life cover across different age groups:

Age	Monthly Policy Premium (₹1 Crore Life Cover)	Total Monthly Policy Premium (With Critical Illness Plus Benefit Rider - ₹10,00,000)
20 Years¹	₹512	₹759
25 Years²	₹620	₹987
30 Years³	₹817	₹1,372
35 Years⁴	₹1,184	₹2,008
40 Years⁵	₹1,643	₹2,765
45 Years⁶	₹2,298	₹3,799

Term Insurance Premium Rates for Male vs Female

Gender also plays a role in how term plans are priced. Statistically women live longer and are classified as a lower mortality risk by insurers. This works in their favor, with premiums for females usually lower than males at the same age and cover amount. The table below breaks down how monthly premiums differ for male and female applicants at the same age and cover amount:

The below table shows the difference in the premium between a male and female for 1 Crore Term Insurance.

Age	Male (1 Crore Term Plan Premium)	Female (1 Crore Term Plan Premium)
20 Years⁷	₹512/month	₹485/month
30 Years⁸	₹817/month	₹683/month
40 Years⁹	₹1,643/month	₹1,283/month
50 Years¹⁰	₹3,725/month	₹2,765/month

Term Insurance Premium for Smokers vs Non-Smokers

Lifestyle habits, like smoking, are another major factor the insurers consider while calculating premiums. Tobacco use is linked to a higher chance of health complications, which puts smokers into a costlier premium bracket than non-smokers, even at the same age and cover amount. The table below covers this gap for a ₹1 crore life cover:

Age	Monthly Policy Premium Non-Smoker (₹1 Crore Life Cover)	Total Monthly Policy Premium Smoker (₹1 Crore Life Cover)
20 Years¹¹	₹512	₹789
25 Years¹²	₹620	₹969
30 Years¹³	₹817	₹1,310
35 Years¹⁴	₹1,184	₹1,903
40 Years¹⁵	₹1,643	₹2,666
45 Years¹⁶	₹2,298	₹3,760

Best Term Insurance Plans in India 2026

The best term insurance plans in 2026 are the ones that offer high claim settlement ratios, affordable premiums, and flexible cover options tailored to your income and life stage. Look for plans that provide multiple payout structures (lump sum, monthly income, or a combination), premium payment flexibility, and a strong track record of settling claims quickly. Comparing a few plans across these parameters before buying ensures you get adequate coverage at the right price.

How to Buy a Term Insurance Plan?

The process to buy term insurance is straightforward. A death benefit is paid to your nominees if you pass away during the policy term. This payment is what keeps your family financially stable. An income replacement term plan works by providing steady financial support for their ongoing expenses, even when you are no longer there. Let us see how term insurance works:

1. Policy Agreement

Your journey starts with a formal agreement between you and the insurance provider. This contract is the foundation of your protection. In exchange for your commitment to pay regular premiums, you receive financial coverage for a fixed term. Your term life policy will name you as the ‘life assured’ and state the insurer’s promise to pay a defined sum to your nominee should you pass away during the policy period.

2. Submitting the Proposal Form

The proposal form is a vital document where you list essential personal and financial information. You will be asked for your age, income, lifestyle habits, occupation, and medical history. The insurer uses this to make their decision. Being accurate and honest here is extremely important. It makes the underwriting process smooth and lowers the risk of any future claim rejection.

3. Assessing Your Coverage Needs

The right plan starts by adding up your family's real-world costs. Look at everything from loan payments and school fees to daily living expenses. This review is how you settle on the right coverage amount, policy length, and premium schedule. It is also the time to consider optional riders for extra protection. For instance, if you have significant long-term obligations, a ₹1.5 crore term plan could provide the security your family needs.

4. Premium Payment and Policy Activation

Once the insurer approves your application, they calculate your premium. Your coverage is not active until you make the first payment. That first payment is the trigger. You can choose a payment schedule that fits your budget with monthly, quarterly, half yearly or yearly options. This control makes managing the premiums straightforward and eliminates financial strain.

5. Nominee Assignment

Your nominee is the person who receives the entire payout, no questions asked. This makes the choice of a trustworthy beneficiary incredibly important. You must keep their official details updated after major life events. A marriage or divorce requires an immediate update. This guarantees a fast and smooth money transfer when your family needs it most.

Why Buy a Term Plan Online from Kotak Life?

Booking a term plan online provides a comfortable and convenient way to get the top term insurance plans available, along with easier processing and accessibility. Here is why it is a smart choice:

Online Discount Up to 7.5%"

Term insurance can also be purchased online, and this may result in further savings. Kotak Life provides a unique online discount of up to 7.5%. Such a discount will lower the amount of money you pay as a premium and is a cheaper alternative to achieving comprehensive coverage, as well as leverage the benefits of convenience and efficiency of digital platforms.

Convenience

When you buy a term plan online, you get a chance to browse, compare, and purchase policies from the comfort of your home. People do not have to meet in person, making the process faster and easier for those with busy schedules.

Transparency

Online platforms show all the details of a policy clearly, so you can compare features, premiums, and benefits from different insurers without any hidden information or pressure from agents. This transparency helps you make smart and confident choices.

Cost-effective

Term plans sold online, in many cases, come at a lower price, as additional intermediaries and associated commission and administration costs are avoided. Such savings are transferred to you in the form of a lowered premium on the same coverage.

Easy Comparison

Online comparison tools allow you to request quotes on insurance coverage details from a number of companies and compare the different plans they offer. This will help you choose one of the top term insurance plans that will have wide coverage at a fair price.

Faster Policy Issuance

When you buy a plan online, it generally takes a shorter time and has an immediate effect in the issuance of the policy, as digital documentation is mailed directly to you. This facilitates the handling, retrieving, and safekeeping of your insurance records.

24/7 Availability of information

Unlike the case with physical branches, online insurance websites can be reached at all times. You are able to read policies, pay, and even contact customer service 24/7 via chat assistance or the Q&A section.

Optional Add ons

While buying a plan online, you may have direct access to a variety of riders, such as critical illness or accidental death, etc., that you can simply add after a few clicks. Such flexibility allows your policy to be customized as per your needs.

Eligibility Criteria to Buy Term Insurance

Before you start comparing plans, it helps to know whether you actually qualify. The criteria are not complicated, but they vary between insurers, so here is what you will usually encounter.

Entry Age/Maturity Age

Most term insurance plans accept applicants between 18 and 65 years of age. The maturity age, which is the maximum age up to which your coverage can last, is usually capped at 75 or 85 years, depending on the insurer. Some premium plans, like whole-life term variants, extend coverage up to 99 years. The younger your entry age, the longer the available policy term.

Policy Term/Premium Paying Term

A policy term is simply how long your life cover stays active, commonly anywhere from 10 to 40 years. The premium paying term is how long you actually make payments. These two do not have to be the same. You could pay for 20 years and stay covered for 30. Some plans even offer single-pay or limited-pay options, where you pay off the entire premium upfront or over a shorter window.

Income

Your sum assured is typically tied to your income, usually 10 to 20 times your annual income, depending on your age and the insurer's underwriting rules. You will need to submit proof of income, like ITR, salary slips, or bank statements, as part of the application.

Country of Residence & Citizenship

Indian residents and Non-Resident Indians (NRIs) can both buy term insurance from Indian insurers. NRIs may need to submit additional documentation, like a valid passport, visa, and proof of overseas address. Some insurers also have geographic restrictions on where they will issue policies, so it is worth confirming this if you are based abroad.

Health & Medical History

Insurers ask detailed questions about your current health, past illnesses, surgeries, and family medical history. If your sum assured crosses a certain threshold, usually ₹50 lakh or more, a medical check-up is mandatory. It is important to note that pre-existing conditions do not automatically disqualify you, but they may affect your premium or result in certain exclusions. It is important to be honest here.

9 Documents Required for Term Life Insurance Claim Process

Having the right documents ready is key to a smooth term life insurance claim process. Here is what you need to prepare:

1. Death Certificate

The official death certificate is the primary document. It confirms the policyholder's passing and is issued by a local municipal authority.

2. Policy Document

You need the original term life insurance policy document. All policy details are here. It contains the terms, sum assured, and the nominee's information.

3. Identification Proof

The deceased policyholder’s identification is required. An Aadhaar card, PAN card, or passport will work. This verifies their identity.

4. Medical Records

If death was due to an illness, medical records are necessary. The treatment history validates the claim by giving details about the sickness and its progression.

5. Police Report (if applicable)

For an accidental or unnatural death, a police report or FIR is required. This document verifies the circumstances of the death.

6. Nominee/Beneficiary ID

The nominee must prove their own identity. An Aadhaar card or voter ID is needed to establish who they are and their right to the claim.

7. Bank Details

You must give the nominee’s bank account information. A canceled cheque or a copy of a bank passbook is required. This allows for the direct transfer of the claim payment.

8. Proof of Relationship

A document is needed to prove the link between the policyholder and nominee. A marriage certificate or birth certificate is standard.

9. Additional Documents

Some insurers might ask for more paperwork. A post-mortem report or an employer’s certificate might be requested in certain cases.

What is Covered and Not Covered in Term Life Insurance?

While the coverage of term insurance is broad, it is essential to understand the specific situations that are covered and the exclusions that may lead to a claim being denied.

In most cases, a term insurance policy will pay the death benefit to the nominee regardless of the cause of death. Here are the common scenarios covered:

Death due to illness or medical conditions
Death due to COVID-19
Death resulting from unforeseen accidents
Death due to natural disasters like earthquakes, floods, tsunamis, or hurricanes
If the insured person is murdered, the death benefit is payable to the nominee

Insurers include specific exclusions to prevent fraud and manage risk. A claim may be rejected under the following circumstances:

Suicide within the first year
Death due to undeclared pre-existing illnesses
Death from self-inflicted injuries
Death while under the influence of intoxicants
Death while participating in illegal activities
Death due to hazardous or adventure sports

How to Avoid Claim Rejection

A term plan only works if the claim actually gets paid. These steps are not formalities; they are what stand between your family receiving the money and being turned away.

Disclose All Information Honestly

Every question about your health, occupation, lifestyle habits (smoking, alcohol), and finances deserves a straight, accurate answer. Insurers have the right to investigate claims, and if they find a discrepancy between your application and reality, they can reject the claim entirely. No second chances.

Reveal Pre-existing Conditions

Did you have asthma as a teenager? A minor heart murmur five years ago? It is important to mention it. Withholding past medical history is the single most common reason claims fail. The insurer’s investigation team will find out eventually, and you should not give them a reason to withhold the payout.

Keep Nominee Details Updated

Your nominee is the person who receives the death benefit. If you named your parents when you bought the policy at 25 and you are now married with kids, it is important to update it. Do it every few years, or after any major life event, like marriage, divorce, or a child's birth. The process is simple and usually takes just one form.

Pay Premiums On Time

A lapsed policy does not pay claims. Set up an auto-debit, mark a calendar reminder, do whatever works for you, but do not miss your premium payment. Most insurers offer a grace period of 30 days after the due date, so a missed payment is not immediately catastrophic. But consistently lapsing and reinstating your policy can create complications at claim time.

Read Policy Terms Carefully

The policy document spells out exactly what is covered and what is not. Pay special attention to exclusions, like suicide within the first year, death under the influence of drugs, etc., and any waiting periods attached to riders. Knowing what your policy does not cover is just as important as knowing what it does.

Reasons Your Term Insurance Claim May Be Rejected

Even with the best intentions, claims get rejected. Here are the most common reasons for claim rejection:

Non-disclosure of Medical History: If the insurer finds out you had a condition you did not mention, they can reject the claim, even years later.
Policy Lapse Due to Non-Payment: A policy that is not active on the date of death simply will not pay out.
Death Under Exclusions: Death by suicide within the first 12 months of the policy, or death under the influence of alcohol/narcotics, is typically excluded.
Fraudulent Claims: Any attempt to fabricate circumstances or documents is grounds for immediate rejection and legal action.
Incorrect Nominee Details: If the nominee's name, relationship, or ID documents do not match the policy records, claim processing can stall or be denied.
Claim Filed After the Deadline: Most insurers require the claim to be reported within a specific window. Missing this can complicate or void the process.

How Does a Term Plan Secure My Family’s Future?

A term insurance plan is a versatile financial tool for providing comprehensive support to your family. This flexibility helps address a wide range of financial obligations, keeping your long-term plans for your family’s security on track.

Education Expenses

A term plan can function as a dedicated fund to secure your children’s educational future. The payout helps cover rising tuition costs for school and university. Their academic goals can be achieved without the family having to take on significant debt.

Funeral and Final Expenses

The immediate costs associated with a funeral and other final arrangements can be substantial. The death benefit provides the necessary liquidity. Your family can manage these expenses with dignity and without the stress of using their savings.

Business Continuity

For business owners, a term plan is a key component of a sound succession strategy. The payout injects vital capital into the business to cover operational costs and settle outstanding debts. This ensures a stable and orderly transition, protecting the enterprise you built.

Estate Planning

The death benefit plays a significant role in effective estate planning. It provides the funds to settle all estate-related taxes and legal fees. Your assets are then transferred to your heirs intact, without your family being forced to sell property to cover these costs.

Debt Repayment

Most families carry long-term liabilities, such as a home loan or car loan. The term plan’s payout is designed to eliminate these outstanding debts, immediately relieving your family of that financial burden and securing their ownership of those assets.

Income Replacement

A primary function of a term insurance plan is to replace the future income you would have earned. The payout becomes a steady source of funds. It helps your family maintain their standard of living, cover daily expenses, and continue pursuing their long-term financial goals.

Death Benefits

The tax-exempt death benefit is the central pillar of a term plan. It is the lump-sum payment that empowers your family to address all of these financial challenges. This capital is the resource that funds their education, clears debts, and provides for their daily needs, ensuring their complete financial security.

Choose the suitable Term Insurance Plan as Per Your Needs

Choosing a term plan is not just about the premium. You have to match the policy to your income, life stage, and responsibilities. The right term insurance plan protects your family with sufficient coverage for the correct amount of time. Below are three powerful ways to find a plan tailored to you:

Term Insurance Plan as Per Policy Term

The correct policy term keeps your family secure through all key life stages. Choose a duration that lasts until major debts are gone. Your home loan should be paid off, and your children's education funded. Common term options to consider:

Term Insurance Plan as per Your Age

Age has a huge impact on your premium and options. Starting younger gives you access to cheaper and more flexible plans. These are typical plans based on age:

Term Insurance Plan in 20s: The best time to start for low premiums and high cover.
Term Insurance Plan in 30s: A balance between affordability and growing family needs.
Term Insurance Plan in 40s: Good for protecting assets while managing current debts.
Term Insurance Plan in 50s: Secures late-career years, but term options can be limited.

Term Insurance Plan based on Your Salary

Your salary dictates the right sum assured. Your goal is to maintain your family's lifestyle. The rule of thumb is to get coverage that is 10 to 15 times your yearly income. This amount ensures your family can handle future costs without worry. Examples based on income:

Term Insurance Terminology

Term insurance comes with its own vocabulary. Here is what the key terms actually mean in simple language.

Sum Assured

The sum assured is the fixed amount your insurer agrees to pay your nominee if you die during the policy term. It is decided at the time of purchase and does not change unless you opt for an increasing cover feature.

Death Benefit

The death benefit refers to the actual payout, which, depending on your plan, could equal the sum assured or include additional payouts from attached riders.

Claim Settlement Ratio

The Claim Settlement Ratio (CSR) tells you what percentage of claims an insurer settled in a given year. A CSR of 98% means the insurer paid out 98 out of every 100 claims received. Higher is better, but you should look at the absolute number of claims settled too, not just the percentage.

Solvency Ratio

The solvency ratio measures the insurer's financial strength and ability to pay future claims. IRDAI mandates a minimum solvency ratio of 1.5 for all Indian insurers. You should look for an insurer with a solvency ratio above that limit.

Riders/Add-ons

Riders are optional benefits you attach to your base term plan for an extra premium. Common ones include:

Critical Illness Rider: It pays a lump sum on diagnosis of listed illnesses like cancer or heart attack.
Accidental Death Benefit Rider: It adds an extra payout if death is caused by an accident
Waiver of Premium Rider: It waives future premiums if you're diagnosed with a critical illness or become permanently disabled.

These riders are not mandatory, but the right combination can significantly extend what your policy covers.

Free-look Period

Free-look period refers to the time given to you, usually 15–30 days from receiving your policy document, to review and cancel your policy with a refund if you're not satisfied with the terms.

Longer Life Expectancy and the Need for Financial Protection

India’s life expectancy at birth was reported at around 72 years in 2023, while official estimates show a steady rise over the past two decades. Living longer is good news, but it also means your financial plan may need to support your family for a longer stretch than you first imagined.

A longer lifespan can mean a longer home loan tenure, extended support for children, more years of retirement income for your spouse, and greater exposure to medical costs later in life. This is why term insurance should not be chosen only on the basis of the lowest premium or the highest available sum assured. The policy term has to match the years your income is genuinely needed.

Choose Cover for Your Responsibility Years

Your term plan should ideally remain active until the major financial responsibilities linked to your income are likely to reduce or end.

For example, if you are 32, have a 20-year home loan, and expect your child to remain financially dependent until you are around 55 or 60, a short-term policy may not offer enough protection. A policy term that ends at age 50 could leave your family exposed during the very years they may still need your income.

Before selecting the policy term, consider:

The number of years left on your home, vehicle, personal, or business loans
Your children’s likely education and early-career expenses
Whether your spouse has an independent income and sufficient financial security
Financial support required by dependent parents
The retirement corpus your family would need if your income stopped unexpectedly

Review Your Cover When Life Changes

Your life expectancy may be rising, but so are your responsibilities. A policy purchased early in your career may no longer be enough after a marriage, a home purchase, a child’s birth, or a major jump in income.

This is why you should review your term insurance when you experience a meaningful change in financial responsibility. You may need to increase your overall cover by buying an additional term plan, particularly if your existing sum assured no longer reflects your loans, future goals, and family’s lifestyle needs. A useful question to ask is: If my income stopped today, could my family continue with the same financial plan for the next 10, 20, or 30 years? If the answer is no, it may be time to revisit both your sum assured and policy term.

Hear From the Experts on Term Insurance

Ranjit Mishra

Executive Vice President and Head of Products

“ Kotak Protect Advantage” combines life cover with features designed for real-life needs. From increasing your protection at important life milestones to pausing premiums during financial challenges and accessing a Special Exit Benefit, the plan helps you build long-term financial security for your loved ones with flexibility and peace of mind.

Reviewed By :

Prasad Pimple

Prasad Pimple has a decade-long experience in the Life insurance sector and as EVP, Kotak Life heads Digital Business. He is responsible for developing user friendly product journeys, creating consumer awareness and helping consumers in identifying need for life insurance solutions. He has 20+ years of experience in creating and building business verticals across Insurance, Telecom and Banking sectors

Thank you for your feedback!

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS

IRDAI or its officials do not involve in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

^*For Kotak e-Term - Get your premiums back through Special Exit Value, under your policy, you have one year time period to avail this option commencing from, if your policy term is:

40 years: Earlier of 25^th policy year OR during the policy year, when you attain 60 years
More than 40 years: Earlier of 30^th policy year OR during the policy year, when you attain 60 years

For Kotak Signature Term Plan - Get your premiums back through special exit value, you have five years’ time period to avail this option commencing from, if your policy term is:

40 years: Earlier of 25^th policy year OR during the policy year, when you attain 60 years
More than 40 years: Earlier of 30^th policy year OR during the policy year, when you attain 60 years

For Kotak Protect Advantage - Get your premiums back through special exit value, you can avail this benefit any time after the completion of 25^th Policy year. This is only applicable to policies with Policy Term 30 years and above.

^**Kotak e-Term - Free Medical Checkup every 5^th year starting from 5^th policy year onwards

^!1 Day Claim Settlement:

1.Policies must be active for a continuous period of 3 years from the date of issuance or the date of revival, whichever is later.

2. Applicable for individual death claims where all mandatory documents are submitted before 3 PM on an HO working day at any Kotak Life office from Monday to Friday.

3. The following cases are excluded: ULIP policies, Open title/rival claims, Claims requiring field verification, Policies requiring reversal of financial transactions, Rider claims.

4. The total claim amount for all life policies held by the life assured should be less than ₹50 Lakh.

This guarantee is applicable for the claims received after first 6 days of the month. Claims shall be settled within one day.

▪Savings on Premium % may vary basis Basic Sum Assured and Premium Payment Option subject to underwriting conditions. The savings 13% on premium is for Kotak Signature Term plan and is calculated based on 5% discount for Salaried or Existing customer + 3% online discount + 5.30% discount on Annual Premium Payment mode (Monthly Premium ₹1144*12 = ₹13,728 & Annualized Premium is ₹13,000, [(₹13,728 - ₹13,000/ ₹13,728)*100 = 5.30%]) Hence overall total is 13.30% ~ 13%.

^”Kotak e-Term – Upto 7.5% online discount applicable for online customers. The discount shall be applicable throughout the premium payment term and will be based on the sum assured band.

^{<< /sup>Discount for salaried women – There would be a special discount of 16% throughout the premium paying term applicable for salaried female life insured with Kotak Signature Term.}

Instant Payout on Claim Intimation is available under Kotak Signature Term, Kotak Signature Legacy, Kotak Protect Advantage:

^##In case of death of the Life Insured after completion of three (3) consecutive Policy years, from the Date of Commencement of Risk or the date of Revival of the Policy; and subject to the Policy being in force, the Insurer shall endeavor to pay an amount of ₹2,00,000 in advance (out of the Death Benefit payable) to the Claimant within two (2) working days from the claim registration date (subject to submission of all required mandatory supporting documents as specified above). Thereafter, the remaining balance amount of the Death Benefit shall be payable to the Claimant once the Death Benefit claim is found admissible by the Insurer as per the terms and conditions mentioned in this Policy document.

^@Tax benefit of ₹54,600 (₹46,800 u/s 123 & ₹ 7,800 u/s 126) is calculated at highest tax slab rate of 31.2% (including Cess excluding surcharge) on life insurance premium applicable under the Old Tax Regime, u/s 123 read with schedule XV of the Income Tax Act, 2025 of ₹ 1,50,000 and health premium u/s 126 of the Income Tax Act, 2025 of ₹ 25,000. Tax benefits under the policy are subject to conditions as per Section 123, 126, Section 11 read with Schedule II(2), 202 and other provisions of the Income Tax Act, 2025. Goods and Services Tax and Cess, if any, will be charged extra as per prevailing rates. Tax laws are subject to amendments from time to time. Customer is advised to take an independent view from Tax consultant.

⁺GST is exempted for all individual life insurance policies effective from 22nd September 2025.

^∞Guaranteed if policy is in force, applicable death benefit will be paid out.

^#Figures arrived are basis the company's latest annual audited figures for individual death claims for FY 2025-26

https://www.kotak.bank.in/content/dam/Kotak/investor-relation/Financial-Result/QuarterlyReport/FY-2026/q4/investor-presentation/Q4FY26-Investor-Presentation.pdf
^CS5https://www.kotak.com/content/dam/Kotak/investor-relation/Financial-Result/QuarterlyReport/FY-2025/q4/investor-presentation/Q4FY25_Investor_Presentation.pdf
^CS1https://www.kotak.com/content/dam/Kotak/investor-relation/Financial-Result/QuarterlyReport/FY-2024/q4/investor-presentation/Q4FY24%20Investor-Presentation.pdf
^CS2https://www.kotak.com/content/dam/Kotak/investor-relation/Financial-Result/QuarterlyReport/FY-2023/q4/Investor-Presentation/Q4FY23-Investor-Presentation.pdf
^CS3https://www.kotak.com/content/dam/Kotak/investor-relation/Financial-Result/QuarterlyReport/FY-2022/q4/Investor-Presentation/Q4FY22-Investor-Presentation.pdf
^CS4https://www.kotak.com/content/dam/Kotak/investor-relation/Financial-Result/QuarterlyReport/FY-2021/q4/Investor-Presentation/Q4FY21-Investor-Presentation.pdf

^$Solvency Ratio Disclaimer: https://www.kotak.bank.in/content/dam/Kotak/investor-relation/Financial-Result/QuarterlyReport/FY-2026/q4/investor-presentation/Q4FY26-Investor-Presentation.pdf

⁰The above illustration is for an 18-year-old healthy male, non-smoker who has opted for Kotak e-Term, Life Option with a 40-year policy term with regular premium payment mode, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The per month premium is ₹485 [₹5,510 Annualized Premium X modal factor 8.80% = ₹484.88]. The per day premium is ₹15 [₹5,510 Annualized Premium / 365 days = ₹15.10].

^€The above illustration is for a 30-year-old healthy male, non-smoker who has opted for Kotak e-Term, Life Option with a 30-year policy term with regular premium payment option, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The per month premium is ₹692 [₹7,860  Annualized Premium X modal factor 8.80% = ₹ 691.68]. The per day premium is ₹22 [₹7,860  Annualized Premium / 365 days = ₹21.53].

^αThe above illustration is for an 18-year-old healthy male, non-smoker who has opted for Kotak Signature Term Plan 40 year policy term with regular premium payment option and Sum Assured on Death of ₹2 Crore. The per month premium is ₹1,145 (₹13,010 Annualized Premium X modal factor 8.80%) and the per day premium is ₹36 (₹13,010 Annualized Premium / 365 days = ₹35.64].

^£The above illustration is for an 18-year-old healthy female, non-smoker who has opted for Kotak Signature Term Plan, 40 year policy term with regular premium payment option and Sum Assured on Death of ₹2 Crore. The per month premium is ₹962 (₹10,928 Annualized Premium X modal factor 8.80%) and the per day premium is ₹30 (₹10,928 Annualized Premium / 365 days = ₹29.93].

Get 1.5 Crore Life Cover at₹23/day Disclaimer:

Kotak e-Term: The above illustration is for an 18-year-old healthy male, non-smoker who has opted for the Life Option with a 40-year policy term with regular premium payment mode, Level Recurring Payout Option and Sum Assured on Death of ₹ 1.5 Crore. The per day premium is ₹23 [₹8,265 Annualized Premium / 365 days = ₹ 22.64].

Get 2 Crore Life Cover at₹30/day Disclaimer:

Kotak e-Term: The above illustration is for an 18-year-old healthy male, non-smoker who has opted for the Life Option with a 40-year policy term with regular premium payment mode, Level Recurring Payout Option and Sum Assured on Death of ₹2 Crore. The per day premium is ₹30 [₹11,020 Annualized Premium / 365 days = ₹30.19].

Get 5 Crore Life Cover at₹68/day Disclaimer:

Kotak e-Term: The above illustration is for an 18-year-old healthy male, non-smoker who has opted for the Life Option with a 40-year policy term with regular premium payment mode, Level Recurring Payout Option and Sum Assured on Death of ₹5 Crore. The per day premium is ₹68 [₹25,000 Annualized Premium / 365 days = ₹68.49].

Get 75 Lakh Life Cover at₹16/day Disclaimer:

Kotak e-Term: The above illustration is for an 18-year-old healthy male, non-smoker who has opted for the Life Option with a 40-year policy term with regular premium payment mode, Level Recurring Payout Option and Sum Assured on Death of ₹75 lakh. The per day premium is ₹16 [₹5,895 Annualized Premium / 365 days = ₹16.15].

Get 51 Lakh Life Cover at₹11/day Disclaimer:

Kotak e-Term: The above illustration is for an 18-year-old healthy male, non-smoker who has opted for the Life Option with a 40-year policy term with regular premium payment mode, Level Recurring Payout Option and Sum Assured on Death of ₹51 lakh. The per day premium is ₹11 [₹4,009 Annualized Premium / 365 days = ₹10.9].

The premium is assuming the policy is bought Online and the customer has not purchased any policy from Kotak Life Insurance. Annualized Premium is the premium payable in a policy year, excluding the underwriting extra premiums, loadings for modal premium, as applicable and Rider Premium, if any. Goods and Services Tax for all individual life insurance policies is exempted. Goods and Services Tax and Cess thereon, shall be charged if any and are subject to change from time to time as per the prevailing tax laws and/or any other laws inforce.

¹The above illustration is for a 20-year-old healthy male, non-smoker who has opted for Kotak e-Term, Life Option with a 40-year policy term, 40 years premium payment term, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The per month premium is ₹512 (₹5,820 annualized premium x modal factor 8.8%) and ₹247 (₹2,805 annualized premium x modal factor 8.8%) for critical illness plus benefit rider (₹10,00,000 cover with 40 year policy term and regular pay).

²The above illustration is for a 25-year-old healthy male, non-smoker who has opted for Kotak e-Term, Life Option with a 40-year policy term, 40 years premium payment term, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The per month premium is ₹620 (₹7,040 annualized premium x modal factor 8.8%) and ₹367 (₹4,175 annualized premium x modal factor 8.8%) for critical illness plus benefit rider (₹10,00,000 cover with 40 year policy term and regular pay).

³The above illustration is for a 30-year-old healthy male, non-smoker who has opted for Kotak e-Term, Life Option with a 40-year policy term, 40 years premium payment term, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The per month premium is ₹817 (₹9,280 annualized premium x modal factor 8.8%) and ₹555 (₹6,305 annualized premium x modal factor 8.8%) for critical illness plus benefit rider (₹10,00,000 cover with 40 year policy term and regular pay).

⁴The above illustration is for a 35-year-old healthy male, non-smoker who has opted for Kotak e-Term, Life Option with a 40-year policy term, 40 years premium payment term, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The per month premium is ₹1,184 (₹13,460 annualized premium x modal factor 8.8%) and ₹824 (₹9,365 annualized premium x modal factor 8.8%) for critical illness plus benefit rider (₹10,00,000 cover with 40 year policy term and regular pay).

⁵The above illustration is for a 40-year-old healthy male, non-smoker who has opted for Kotak e-Term, Life Option with a 35-year policy term, 35 years premium payment term, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The per month premium is ₹1,643 (₹18,670 annualized premium x modal factor 8.8%) and ₹1,122 (₹12,750 annualized premium x modal factor 8.8%) for critical illness plus benefit rider (₹10,00,000 cover with 35 year policy term and regular pay).

⁶The above illustration is for a 45-year-old healthy male, non-smoker who has opted for Kotak e-Term, Life Option with a 30-year policy term, 30 years premium payment term, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The per month premium is ₹2,298 (₹26,110 annualized premium x modal factor 8.8%) and ₹1,501 (₹17,060 annualized premium x modal factor 8.8%) for critical illness plus benefit rider (₹10,00,000 cover with 30 year policy term and regular pay).

⁷The above illustration is for a 20-year-old healthy male and female, non-smoker who has opted for Kotak e-Term, Life Option with a 40-year policy term, 40-year premium payment term, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The per month premium for male is ₹512 (₹5,820 annualized premium x modal factor 8.8%) and for female is ₹485 (₹5,510 annualized premium x modal factor 8.8%).

⁸The above illustration is for a 30-year-old healthy male and female, non-smoker who has opted for Kotak e-Term, Life Option with a 40-year policy term, 40-year premium payment term, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The per month premium for male is ₹817 (₹9,280 annualized premium x modal factor 8.8%) and for female is ₹683 (₹7,760 annualized premium x modal factor 8.8%).

⁹The above illustration is for a 40-year-old healthy male and female, non-smoker who has opted for Kotak e-Term, Life Option with a 35-year policy term, 35-year premium payment term, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The per month premium for male is ₹1,643 (₹18,670 annualized premium x modal factor 8.8%) and for female is ₹1,283 (₹14,580 annualized premium x modal factor 8.8%).

¹⁰The above illustration is for a 50-year-old healthy male and female, non-smoker who has opted for Kotak e-Term, Life Option with a 30-year policy term, 30-year premium payment term, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The per month premium for male is ₹3,725 (₹42,330 annualized premium x modal factor 8.8%) and for female is ₹2,765 (₹31,420 annualized premium x modal factor 8.8%).

The premiums are assuming the policy is bought Online and the customer has not purchased any policy from Kotak Life Insurance. Goods and Services Tax for all individual life insurance policies is exempted. Goods and Services Tax and Cess thereon, shall be charged if any and are subject to change from time to time as per the prevailing tax laws and/or any other laws inforce.

¹¹The above illustration is for a 20-year-old healthy non-smoker and smoker male, who has opted for Kotak e-Term, Life Option with a 40-year policy term, 40-year premium payment term, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The per month premium for non-smoker is ₹512 (₹5,820 annualized premium x modal factor 8.8%) and for smoker is ₹789 (₹8,970 annualized premium x modal factor 8.8%).

¹²The above illustration is for a 25-year-old healthy non-smoker and smoker male, who has opted for Kotak e-Term, Life Option with a 40-year policy term, 40-year premium payment term, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The per month premium for non-smoker is ₹620 (₹7,040 annualized premium x modal factor 8.8%) and for smoker is ₹969 (₹11,010 annualized premium x modal factor 8.8%).

¹³The above illustration is for a 30-year-old healthy non-smoker and smoker male, who has opted for Kotak e-Term, Life Option with a 40-year policy term, 40-year premium payment term, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The per month premium for non-smoker is ₹817 (₹9,280 annualized premium x modal factor 8.8%) and for smoker is ₹1,310 (₹14,890 annualized premium x modal factor 8.8%).

¹⁴The above illustration is for a 35-year-old healthy non-smoker and smoker male, who has opted for Kotak e-Term, Life Option with a 40-year policy term, 40-year premium payment term, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The per month premium for non-smoker is ₹1,184 (₹13,460 annualized premium x modal factor 8.8%) and for smoker is ₹1,903 (₹21,630 annualized premium x modal factor 8.8%) .

¹⁵The above illustration is for a 40-year-old healthy non-smoker and smoker male, who has opted for Kotak e-Term, Life Option with a 35-year policy term, 35-year premium payment term, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The per month premium for non-smoker is ₹1,643 (₹18,670 annualized premium x modal factor 8.8%) and for smoker is ₹2,666 (₹30,290 annualized premium x modal factor 8.8%).

¹⁶The above illustration is for a 45-year-old healthy non-smoker and smoker male, who has opted for Kotak e-Term, Life Option with a 30-year policy term, 30-year premium payment term, Level Recurring Payout Option and Sum Assured on Death of ₹1 Crore. The per month premium for non-smoker is ₹2,298 (₹26,110 annualized premium x modal factor 8.8%) and for smoker is ₹3,760 (₹42,730 annualized premium x modal factor 8.8%) .

The premium is assuming the policy is bought Online and the customer has not purchased any policy from Kotak Life Insurance. Goods and Services Tax for all individual life insurance policies is exempted. Goods and Services Tax and Cess thereon, shall be charged if any and are subject to change from time to time as per the prevailing tax laws and/or any other laws inforce.

Kotak Signature Term Plan: UIN: 107N139V02, Kotak Accidental Death Benefit Rider, UIN: 107B001V04; Kotak Permanent Disability Benefit Rider, UIN: 107B002V03; Kotak Critical Illness Plus Benefit Rider, UIN: 107B020V02. This is a non-participating non-linked life insurance individual pure risk product. This product is also available for sale through online mode.

Kotak e-Term, UIN: 107N129V04, Kotak Critical Illness Plus Benefit Rider - 107B020V02; Kotak Permanent Disability Benefit Rider, UIN: 107B002V03. This is a non-participating non-linked life insurance individual pure risk product. This product is also available for sale through online mode.

Kotak Gen2Gen Protect UIN: 107N132V02, Kotak Permanent Disability Benefit Rider - UIN: 107B002V03, Kotak Critical Illness Plus Benefit Rider - 107B020V02, Kotak Accidental Death Benefit Rider - UIN: 107B001V04. This is a non-participating non-linked life insurance individual savings product. This product is also available for sale through online mode.

Kotak Protect Advantage - UIN: 107N144V01, Kotak Permanent Disability Benefit Rider UIN:107B002V03, Kotak Critical Illness Plus Benefit Rider - UIN: 107B020V02, Kotak Accidental Death Benefit Rider - UIN: 107B001V04. This is a Non-Participating Non-Linked Life Insurance Individual Pure Risk Product. This product is also available for sale through online mode.

Kotak Term Plan UIN: 107N005V07, Kotak Accidental Death Benefit Rider - UIN: 107B001V04, Kotak Permanent Disability Benefit Rider - UIN: 107B002V03, Kotak Critical Illness Plus Benefit Rider UIN: 107B020V02. This is a non-participating non-linked life insurance individual pure risk product.

Kotak Saral Jeevan Bima UIN: 107N120V01. This is a Non-Participating Non-Linked Life Insurance Individual Pure Risk Product.

Kotak Health Maximiser UIN: ZUKHLIP24026V022324 is a Combi Product with both protection & health benefits, where protection benefits are being offered by Kotak Mahindra Life Insurance Company Limited. under Kotak Term Plan - UIN 107N005V06 and health benefits are being offered by Zurich Kotak General Insurance Company (India) Limited under Health Premier – UIN ZUKHLIP23109V052223.

Kotak Value Protect UIN: 107N140V01, Kotak Permanent Disability Benefit Rider UIN: 107B002V03, Kotak Critical Illness Plus Benefit Rider UIN: 107B020V02, Kotak Accidental Death Benefit Rider UIN: 107B001V04. This is a non-participating non-linked life insurance individual pure risk product.

Kotak Signature Legacy UIN: 107N139V01, Kotak Permanent Disability Benefit Rider - UIN: 107B002V03, Kotak Accidental Disability Guardian Benefit Rider – UIN: 107B011V02. This is a non-participating non-linked life insurance individual pure risk / savings product.

Kotak Vital Care UIN: 107N143V01. This is a non-participating, non-linked life insurance individual pure risk product.

For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale. ^βFor more details on riders please read the Rider Brochure. Riders are not mandatory and can be attached to the base plan at inception or at any policy anniversary of the base plan for additional cost.

This website content is not a brochure and only gives the salient features of the plan.

Kotak Mahindra Life Insurance Company Limited | IRDAI Registration No. 107 | CIN: U66030MH2000PLC128503, Regd. Office: 3rd Floor, Plot # C- 12, G- Block, BKC, Bandra (E), Mumbai – 400051 | Toll Free: 1800 209 8800 | Website: https://www.kotaklife.com | Email: kli.in/WECARE ARN No: KLI/26-27/E-WEB/1809

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at ₹485/month^

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