e-Term Plan

Key Features

1. Most affordable form of life insurance.
2. Offers financial protection for a specific period (term) in exchange for a fixed premium
3. Mutliple rider options to choose from Kotak Critical Illness Plus Benefits Rider & Kotak Permanent Disability Benefit Rider etc.
4. Generally, one needs 10-20 times their annual income as term insurance coverage, depending on the financial obligations and life stage
5. Advisable to buy a term insurance plan as early as possible, ideally when you are young and healthy; which will give you longer life coverage at lower premium.
6. All individuals like young professionals, newly married couples, parents, self-employed, etc. who have financial dependents and liabilities should explore a suitable term plan
7. The key factors to consider when deciding the coverage amount are financial liabilities, children's education, total household income, current lifestyle maintenance needs, and so on.
8. Premiums are eligible for deduction under Section 80C, and the death benefit is exempt under Section 10(10D), as per tax laws. Premiums for health riders may also qualify for deductions under Section 80D.