Kotak Mahindra Old Mutual Life Insurance has launched of Kotak e-Term Plan – a term insurance plan offering comprehensive protection for a generation of responsible Indians. The plan offers three cover options to choose from – Life Option, Life Plus Option, and Life Secure Option – with varying benefits.
- Life Option offers pure protection against death due to any reason
- Life Plus Option offers in addition to the “Life Option” benefit, an additional cover for death due to accident
- Life Secure Option offers the additional benefit of future premiums being waived off with the cover continuing in case of total & permanent disability.
The plan provides the option to add step-up/additional cover at various life stages or specific intervals addressing the need of enhancing cover with increasing responsibility. It also offers the flexibility to choose from three payout options for the nominee to receive the benefits either in lump sum payout, or in recurring yearly payout or in increasing recurring yearly payout.
“At Kotak Life, we have always believed in listening to and addressing our customers’ needs. Kotak e-Term plan has been designed to offer the ability to customise the policy, depending on diverse needs relating to protection and risk cover of our customers. The policy is economical, scalable and above all, comes with an impeccable brand assurance of Kotak Life towards securing the future of the families of our customers,” says Suresh Agarwal, Chief Distribution Officer.
Policyholders may customise and enhance their protection through optional riders with additional premium to cover against 37 critical illnesses (through Critical Illness Plus Benefit rider) and against permanent disability due to accident (through Permanent Disability Benefit Rider).