Kotak Mahindra Life Insurance
Claim settlement ratio 98.50% (FY 2021-22)
Critical Illness Benefit Available
Tax Benefit Amount As per prevailing tax laws
Accidental Death Benefit 100%
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Life coverage is important if you want to ensure the financial security of your family. As your family grows, the responsibilities of ensuring their wellbeing also grows. Moreover, since adversities can come anytime, it is important to stay covered so that you can give your family enough financial support.
The best feature of the Kotak eTerm policy is that it allows life cover at a very low cost The insurer allows the policyholder to have a quick and hassle-free buying process The life cover step-up option is another good feature that allows financial support at all important stages of life Further, there is no medical examination required to exercise the step-up option under the e-term policy
If the policyholder or the insured person commits suicide within one year of the policy buying date, the nominee would receive 80% of the premiums paid. If the policyholder or the insured person commits suicide within one year of the date of policy revival, which is done within six months of the first unpaid premium date, the nominee receives complete death benefit as the exclusion option is not applicable in this case If the policyholder or the insured person commits suicide within one year of the date of policy revival, which is done within six months of the first unpaid premium date, the nominee receives complete death benefit as the exclusion option is not applicable in this case Conversely, if the suicide is done within 1 year the revival date, when the revival is done after 6 months from the date of first unpaid premium, the benefit payable shall be 80% of Premiums Paid at the date of claim If the suicide is committed within one year of exercising any step-up option, the increase in sum assured will not be payable
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