Kotak Signature Term Plan: High coverage at a competitive price..!

Investment Guru Thursday, July 31, 2025 0

Kotak Signature Term Plan: High coverage at a competitive price..!

The Kotak Signature Term Plan is a term life insurance policy designed to provide high coverage at a competitive price, with the goal of securing a legacy for your loved ones.

It offers flexible policy terms and premium payment options, along with the potential for instant payout on claim intimation.

The plan also includes options for enhanced protection through riders like Accidental Death Benefit, Critical Illness Plus Benefit, and Permanent Disability Benefit.

Here's a more detailed look at the plan:

Key Features:

High Coverage:

The plan offers substantial life cover, with options for significant sum assured amounts.

Flexible Terms:

Policy terms can range from a minimum of 5 years to a maximum of 67 years, with options to cover you up to age 85.

Premium Payment Options:

You can choose from various premium payment modes, including single pay, regular pay (yearly, half-yearly, quarterly, or monthly).

Instant Payout:

An instant payout of ₹2 lakh is available on claim intimation to provide immediate support to your family.

Optional Riders:

You can enhance your coverage by adding riders like Accidental Death Benefit, Critical Illness Plus Benefit, and Permanent Disability Benefit.

Discounts:

Special discounts may be available for female lives and salaried individuals.

Potential for Tax Benefits:

You can potentially avail of tax benefits as per the Income Tax Act, 1961, subject to applicable conditions and tax laws.

Benefits in case of Death:

In the event of death during the policy term, the nominee will receive the Sum Assured on Death, based on the payment option selected (Single, Regular, or Limited).
The Sum Assured on Death is the higher of the following amounts:

The chosen sum assured.
10 times the annual premium (for regular premium policies) or 1.25 times the single premium (for single premium policies).
105% of all premiums paid (excluding rider premiums and taxes).

In essence, the Kotak Signature Term Plan aims to provide a robust and flexible solution for individuals looking to secure their family's financial future with a reliable term insurance policy.

For more details