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Kotak Mahindra Life Insurance Company India

Kotak Mahindra Life Insurance Company Limited is a joint venture between Kotak Mahindra Bank Limited and Old Mutual Limited, a pan African investment, savings insurance, and banking group operating. It was established in 2001 and it has 229 branch offices in around 129 cities and towns in India.

Kotak Mahindra Life insurance company limited is one of the best and fastest growing insurance companies in India. Kotak Life Insurance company covers over 30 million lives nationwide. Kotak Mahindra Group is a well-known banking and financial services organization in India. It provides an extensive range of financial products to meet both corporate and individual investment needs.

Kotak Mahindra Life Insurance Company is a private life insurance company and Kotak Mahindra Life insurance company offers various types of plans such as protection plans, saving plans, and investment plans, child plans, and retirement plans. These life insurance plans are pure risk cover plans, which provide insurance coverage to the family of the insured person.

Kotak Mahindra Life insurance provides long-term value to their customers through financial investments of protection and savings. The term plans of Kotak Mahindra Life Insurance Company are the most selling life insurance plans due to the Coronavirus pandemic. It provides a claim settlement ratio of 96.38% and the solvency ratio of Kotak Life stands at 3.

Kotak Mahindra Life Term Insurance Plans

Term insurance is a contract or agreement between the Life insurance Company and the customer in which the life insurance company agrees to pay a definite agreed amount in the event of the death of the policyholder in return for a nominal premium from the customer. Pure term insurance is a policy where the claim amount is payable to the nominee in case the policyholder expires during the policy period.

The concept of term insurance is to provide financial security to the family in case the policyholder meets with any unfortunate event during the policy period in return for a nominal premium. The best term insurance plan is the one that offers the maximum coverage at affordable premiums and with all the possible add-ons.

Term insurance plans are life insurance plans that are designed to provide maximum life coverage and help you in difficult situations. Term life insurance protects your family’s financial needs & lifestyle in your absence. Term insurance is providing financial security to the family in case the policyholder meets with any unexpected event.

Below are the term life insurance plans offered by Kotak Mahindra Life Company ltd:-

Kotak Term Plan

Kotak Term Plan is a pure risk cover plan that provides life insurance coverage to the family of the insured person in case of unexpected event happens to the insured. Moreover, the Kotak term plan is a convertible plan which can be converted to a Kotak Mahindra Life insurance plan.

This plan offers a high level of protection at a nominal premium rate and flexible premium payment options. This plan provides rider benefits and tax benefits to enhance coverage of the insurance policy. In Kotak life insurance plans, you can get the flexibility to covert Kotak's term plan to another plan.

Features:
  • Entry Age: Minimum 18 years to Maximum 65 years
  • Maximum age at Maturity: 70 years
  • Policy Term: 5 years to 30 years
  • Sum Assured: Minimum Rs. 3 Lakh to Rs .24,99,999 lakhs
  • Premium Payment: Single payment, Regular payment
  • Premium Mode: Single, Yearly, Half- Yearly, Quarterly, Monthly

Kotak e-Term Insurance Plan

Kotak e- Term Plan is an online Term Insurance plan that provides financial security to the family of the insured person against any emergency. This plan provides financial protection in form of the death benefit to the beneficiary of the policy in the event of the unexpected death of the insured.

This plan offers a high level of protection at a nominal premium rate and flexible premium payment options. This plan offers 3 pay-out options such as immediate pay-out, level recurring pay-out, and increasing recurring pay-out, and offers financial protection at reasonable premiums and provides life cover at different stages of life of an insured person.

Features:
  • Entry Age: Minimum 18 years to Maximum 65 years
  • Maximum age at Maturity: 23 years to 75 years
  • Policy Term: 5 years to 40 years, 75 years
  • Sum Assured: Minimum Rs. 25 lakh to no limit
  • Premium Payment: Single payment, Regular payment, limited payment
  • Premium Mode: Yearly, Half- Yearly, Quarterly, Monthly

Kotak Saral Jeevan Bima Plan

Kotak Saral Jeevan Bima Plan is a Non-Linked Non-Participating Individual Pure Risk Premium Insurance Plan. Kotak Saral Jeevan Bima's plan protects your loved ones in your absence. This plan protects the family of the insured person against any emergency.

This plan provides financial protection in form of the death benefit to the beneficiary of the policy in the event of the unexpected death of the insured. This plan offers long-term coverage till the age of 70 years. This plan offers a high level of protection at a nominal premium rate and flexible premium payment options.

Features:
  • Entry Age: Minimum 18 years to Maximum 65 years
  • Maximum age at Maturity: 23 years to 70 years
  • Policy Term: 5 years to 40 years, 75 years
  • Sum Assured: Minimum Rs. 5 lakh to 25 lakh
  • Premium Payment: Single payment, Regular payment, limited payment
  • Premium Mode: Single, Yearly, Half- Yearly, Quarterly, Monthly

The following are some other plans for Kotak Mahindra Life Insurance Company Limited.

Kotak Mahindra Life Savings and Investment Plans:

Kotak Mahindra's life insurance savings and investment plan is an insurance policy that plays both roles. Kotak Mahindra life insurance provides a huge range of investment and savings plans that helps the customer to accumulate wealth in the long term and also provides an opportunity to create financial support for the family of the insured person. The proceeds help finance your future goals like children’s education, marriage, and retirement funds, etc. Here are the savings and investment plans offered by Kotak Life Insurance.

Name of Plan What Is It? Age of Entry Maturity age Premium Payment Sum Assured
Kotak Invest Maxima Plan Kotak Invest Maxima Plan provides the combined benefit of insurance and investment returns. And also provides financial security to the insured person's family in case any unexpected event happens to the insured. The plan offers 5 different fund options to choose from. Min 0 years to Max 65 years Min 10 years to Max 75 years Regular pay, limited pay 10,15,20,25,30 years
Kotak Single Invest Plus Plan Kotak Single Invest Plus Plan is a single premium payment unit-linked insurance plan in which the insured person needs to pay the premium as a lump sum and this plan comes with a life protection cover and offers different fund options to choose from. Min Primary Life-18 years, secondary life-3 years to Max 52,55 years Min Primary Life-28 years, secondary life-18 years to Max 65,67 years single pay 10 years to 15 years
Kotak Platinum Plan Kotak Platinum Plan is a unit-linked insurance plan that comes with three investment strategies and offers flexibility to the insurance holder. Min 0 years to Max 65 years Min 18 years to Max 75 years Regular pay, limited pay 10 years to 30 years
Kotak Ace Investment Plan Kotak Ace Investment Plan is a unit-linked insurance policy, which is specifically designed to offer insurance coverage to the family of the insured person along with the benefit of investment return. Min 0 years to Max 65 years Min 18 years to Max 75 years Regular pay, limited pay 10 years to 30 years
Kotak Premier Endowment Plan Kotak Premier Endowment Plan is a savings cum insurance plan that provides guaranteed addition in the first 5 policy years And also provides financial security to the insured person's family in case any unexpected event happens to the insured. Min 18 years to Max 60 years 70 years Regular pay, limited pay 10, 15, 20,30 years
Kotak Premier Moneyback Plan Kotak Premier Moneyback Plan is a limited pay moneyback policy that provides a lump-sum payout to the insured at regular intervals of time. Min 2 years to 51,55,57 years 75 years limited pay 16, 20, 24 years
Kotak Premier Life Plan Kotak Premier Life Plan is a non-linked participating whole life plan, which offers insurance coverage for the whole life of the insured. Min 3 years to 45, 50, 53, 55 years 99 years 8,12,15,20 years 99 years-entry age of plan
Kotak Sampoorn Bima Micro-Insurance Plan Kotak Sampoorn Bima Micro-Insurance plan provides the combined benefit of savings and protection. And also provides financial security to the insured person's family in case any unexpected event happens to the insured. The plan offers 5 different fund options to choose from. Min 18 years to Max 55 years 60 years Single pay 5 years
Kotak Single Invest Advantage Plan Kotak Single Invest Advantage Plan is a single premium payment unit-linked insurance plan that provides the dual benefit of investment and insurance to the policyholder and can gain the advantage of wealth creation with the long-term investment returns. Min 10,15 years to Max 45,43 years Min 18 years to Max 55,58 years Single pay 10 years, 15 years
Kotak POS Bachat Bima Plan Kotak POS Bachat Bima Plan This is a savings cum protection-oriented plan. The plan offers guaranteed benefits and also secures the financial future of the family of the insured. Min 12 Years to Max 45 years Min 28 years to Max 65 years Limited pay 16, 20 years
Kotak Assured Income Accelerator Plan Kotak Assured Income Accelerator Plan offers guaranteed benefits and also secures the financial future of the family of insured along with the benefit of savings in the long-term. Min 0 years to Max 55,60 years Min 18 years to Max 85 years Limited pay 15,20,30 years
Kotak Classic Endowment Plan Kotak Classic Endowment Plan is a savings cum protection plan, which provides financial security to the insured person's family in case of any unexpected event that happens to the insured. Min 0 years to Max 70,60,58 years Min 18 years to Max 75,70,73 years Limited pay, Regular pay 15,30 years
Kotak Assured Savings Plan Kotak Assured Savings Plan is a savings cum protection plan, which provides financial security to the insured person's family in case of any unexpected event that happens to the insured. Min 3 years to 60 years Min 18 years to Max 75 years Limited pay 10,12,14,15,18,20 years
Kotak Smart Life Plan Kotak Smart Life Plan is a participating, non-linked life insurance plan. This is an endowment policy, which helps the policyholder to fulfill their financial objectives of life. Min 3 years to Max 50,54,55years 75 years 6,8,10,12,15 years 75 years-entry age of plan
Kotak Guaranteed Savings Plan Kotak Guaranteed Savings Plan is a savings cum protection plan that offers an opportunity to the policyholder to create wealth in the long term through savings Min 3 years to 60 years 18 years to 75 years 7,8,10 years 10,15,16,20 years
Kotak e-Invest Plan Kotak e-Invest Plan is an individual, Unit Linked Insurance, endowment life insurance plan. Unit Linked Insurance Products do not offer any liquidity during the first five years of the contract Min 3 years to 60 years 18 years to 75 years Regular pay, limited pay 10,12,15,20 years, 99 years-entry age of plan
Kotak Wealth Optima Plan Kotak Wealth Optima Plan is the investment risk type of plan. The Unit-linked Insurance products do not offer any liquidity during the first five years of the contract Min 3 years to whole life Regular, limited pay-18 to 75 years whole life- 18 to 99 years Regular pay, limited pay Whole life-limited pay-50 years 10,15,20 years, 99 years-entry age of plan
Kotak Premier Income Plan Kotak Premier Income Plan is a savings cum protection plan that offers a guaranteed annual income immediately after the premium payment occupancy to provide additional annual income. Min 3 years to 50, 55 years 18 years to 78 years Limited pay 15,19,23 years

Kotak Mahindra Retirement plans:

A Kotak Mahindra Retirement plan is designed to provide financial security to the future of the individual after retirement. The retirement plans offered by Kotak Mahindra Life Insurance helps to accumulate funds in the long-term also provide an opportunity to create financial support for the family of the insured person.

Here are the retirement plans offered by Kotak Mahindra Life Insurance are:

Name of Plan What Is It? Age of Entry Maturity age Premium Payment Sum Assured
Kotak Premier Pension Plan Kotak Premier Pension Plan is a traditional participating pension plan that helps the insured person accumulate a retirement fund for the future. Min 45,55 years to 60 years Yearly, half-yearly, quarterly, monthly Regular pay, limited pay, single pay Min 2 lacs to no limit
Kotak Lifetime Income Plan Kotak Lifetime Income Plan is a non-participating, non-linked immediate annuity plan that offers a guaranteed income to the policyholder in form of an annuity right after the payment of premium as lump-sum Min 45,55 years to 99 years Yearly, half-yearly, quarterly, monthly single pay Min Rs. 1000 to no limit
Kotak Assured Pension Plan Kotak Assured Pension Plan is a Non-linked, Non-participating, Life Insurance Annuity Plan Min 40 years to Max 80 years Yearly, half-yearly, quarterly, monthly single pay Min Rs. 1000 to no limit

Kotak Mahindra Health Plans:

Kotak Health Shield Plan is a critical illness insurance plan and it is a fixed benefit health insurance plan that covers the major stages of illnesses related to cancer, cardiac problems, liver diseases, and neurological disorders. You can also include financial cover for an unfortunate event resulting from an accident in your plan. Therefore, it is important to plan for your health emergencies before it is too late.

Here is the health plan offered by Kotak Mahindra Life Insurance:

Name of Plan What Is It? Age of Entry Maturity age Premium Payment Sum Assured
Kotak Health Shield Plan Kotak Health Shield Plan is a critical illness insurance plan that covers life-threatening health conditions such as cancer, cardiac problems, liver diseases, and neurological disorders, etc. Min 18 to 65 years Min 23 to 75 years Regular pay, Single pay Min Rs. 10 lacs to 50 lacs

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