Posts Tagged ‘Low Cost Term Insurance’

Kotak Life Insurance Preferred Term Plan

Kotak life insurance ‘Preferred Term Plan’ is a pure risk cover plan and is truly designed to offer insured person’s family member financial protection at an affordable cost. This plan offers further reduced premiums for women. kotak life insurance Preferred Term Plan also offers special premium rates to non-consumers of tobacco, for a sum assured of Rs. 25 lakhs or more. Kotak Preferred Term Plan is an non participating plan and offers no maturity benefits. If the life insured dies before the policy gets over, the beneficiary would receive the Sum Assured as a lump sum.

Features & Benefits:

1. A truly affordable life insurance product that offers the insured person high cover at low term insurance premiums.
2. Regular and single premium payment options.
3. Option to convert to any other plan.
4. Death Benefit

Eligibility Criteria:

1. Entry Age – Minimum age limit is 18 years and Maximum age limit is 65 years.
2. Premium Paying Term – Single and Regular
3. Premium Paying Option – Min 5 years, Max 30 years
4. Age at Maturity – Maximum maturity age is 70 years
5. Premium rates for Half-yearly, Quarterly and Monthly modes are 51%, 26% and 8.5% of Annual rates respectively

The policy holder of Kotak Life Insurance are also eligible under tax benefit as per the provisions of section 80C and 10(10D) of the Indian income tax act.