Kotak Preferred e-Term plan is an online pure protection insurance plan. It is an online insurance plan where the nominee will get the sum assured as death benefit if the insured dies within the policy tenure. This plan offers high level of protection at an affordable price.
Term Insurance Related Reads
- Term Insurance Policy for 5 Year
- Term Insurance Policy for 10 Year
- Term Insurance Policy for 20 Year
- Term Insurance Return of Premium
- Term Insurance Survival Benefits
- Term Insurance Maturity Benefits
- Term Insurance Without Medical Checkup
- Term Insurance With Riders
- Term Insurance vs Endowment Policy
- Top Term Insurance Plans India
- Term Insurance Premium Calculators
- Term Insurance Plan for Couples
- Term Insurance Plan for Family
- Term Insurance for Groups
- Term Insurance for Senior Citizens
Key Features of Kotak Preferred e-Term Plan
- It is a pure term insurance policy which can be purchased online.
- If offers death benefit in the form of sum assured to the nominee in case of the insured individual’s demise.
- There are no maturity benefits in this plan.
- The plan offers two kind of payout options in case of an unfortunate event.
- Immediate Payout- The sum assured will be paid all at once to the nominee.
- Recurring Payout- In this payout option, the nominee will receive 10% of the sum assured as a lump sum amount and the balance will be paid in installments either monthly or annually.
- The basic premium will be waived off in case of the insured being permanently disabled during the premium payment term.
- This plan qualifies for tax benefits under section 80C for premiums and section 10D for the Death Benefit.
- Minimum entry age- 18 years; Maximum entry age - 65 years
- Minimum maturity age- 28 years; Maximum maturity age- 75 years
- Policy term- 10 to 40 years
- Minimum sum assured- Rs.25,000; Maximum sum assured- No limit
- Premium payment mode: Monthly and yearly
- Minimum premium: Depends on the chosen plan option
- Premium payment option: Regular pay, limited and single pay
Benefits of Kotak Preferred e-Term Plan
- Death benefit: The nominee will get the basic sum assured in recurring payout or immediate payout as death benefit in case the insured dies.
- Income tax benefit- The plan qualifies for tax benefits under the section 80C and 10D under the Income Tax Act.
- Maturity benefit: There are no maturity benefits in this plan.
Understanding Kotak Preferred e-Term Plan
- How can one buy the Kotak Preferred e-Term Plan?
The Kotak Preferred e-Term Plan can be bought online without the intervention of an agent.
- Can one take a loan against this policy?
No, loans are not available under this plan.
- Do I get Surrender benefits under this plan?
There are no surrender benefits under this plan.
- What if I stop paying the premiums?
The policy will lapse and all the benefits will be lost if the policyholder stops paying the premiums.
- Can one revive a lapsed policy?
A lapsed policy can be revived within two years of the first unpaid premium. However, the policyholder will incur late payment or penalty charges.
- What is the Free Look Period for this policy?
The policyholder is granted a Free Look Period of 30 days from the date of receipt of the policy.
- Do women get preferential rates?
Women and non tobacco users will are entitled to a lower premium payable under this plan.
Why Kotak Preferred e-Term Plan?
Kotak Preferred e-Term plan is an inexpensive term plan which comes with an inbuilt waiver of basic premium in case of permanent disability of the insured. It also offers different payment options to suit one’s needs. This plan can easily be bought online with no hassles or interference from any agents.
- Max Life Online Term Plan
- Max Life Online Term Plan Life Cover Plus Monthly Income
- Max Life Online Term Plan Life Cover Plus Increasing Monthly Income Plan
- Bharti AXA Life eProtect
- Bharti AXA Life eProtect Plus
- Bharti AXA Life Elite Secure
- Bharti AXA Life Premium Waiver Rider
- HDFC Life CSC Suraksha
- HDFC Life Click 2 Protect Plus
- Aviva i-Life
- Aviva i-Shield
- Aviva i-Life Secure
- Aegon Life iTerm Plan
- AEGON Life iReturn Plan
- AEGON Life iIncome Plan
- Bajaj Allianz iSecure
- Bajaj Allianz isecure More
- Bajaj isecure Loan
- SBI Life - eShield
- SBI Life - Smart Shield
- SBI Life - Saral Shield
- SBI Life - Grameen Bima
- Reliance eTerm Plan
- Reliance Online Term
- Tata AIA iRaksha TROP
- Tata AIA iRaksha Supreme
- BSLI [email protected]
- BSLI Future Guard Plan
- PNB MetLife Mera Term Plan
- LIC e-Term
This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.
GST of 18% is applicable on life insurance effective from the 1st of July, 2017