Quick Overview

Kotak Signature is a pure protection life insurance plan offered by Kotak Life. The term policy is designed for individuals seeking long-term financial security for their family at a predictable cost, and focuses on high life cover, flexible policy options, and premium paying terms. 

This plan suits high-income salaried professionals, self-employed individuals, and families looking for straightforward term protection without complexity.

Looking for a term plan that keeps things simple and predictable with decent add-ons? The Kotak Signature term plan is designed for buyers who value clarity and long-term stability. 

At Ditto, our experts go through policy details and break down complex concepts into simple, clear insights. This guide helps you understand whether the Kotak Signature term plan fits your needs.

Unsure about which term plan will align with your future needs? Book a free call with Ditto, and our advisors can help you out.

About Kotak Life Insurance

Kotak Life is a leading private life insurer in India and part of the trusted Kotak Mahindra Group. It offers protection, retirement, and ULIP plans for individuals and groups. The plans offered focus on long-term financial security, with options to customize coverage using riders.

Established in 2001, it's known for its broad reach with 323 branches across India. The insurer promotes innovation and supports financial independence across life stages.

Performance Metrics of Kotak Life Insurance

Metrics/ValuesFY 22-23FY 23-24FY 24-25Avg FY 22-25
Claim Settlement Ratio98.50%98.44%98.67%98.54%
Amount Settlement Ratio93.88%94.59%NA94.70% (Avg 21-24)
Annual Business Volumes (Crores)₹7,668.7₹8,657₹8,214₹8,180
Amount Paid in Death Claims (Crores)₹320.9₹335.7₹376.4₹344.3
Volume of Complaints per 10,000 claims7.76.95.76.79
Solvency Ratio2.8x2.6x2.5x2.6x

Note: The insurer has decent CSR and ASR metrics but lags behind prominent insurers like Axis Max and HDFC Life.

Eligibility Criteria for Kotak Signature Term Plan

AspectCriteria
Entry AgeMinimum is 18, and maximum is 65 years
Maturity AgeMinimum is 23, and maximum is 85 years
Sum AssuredMinimum is ₹2 crore, and no upper limit (subject to underwriting approval)
Payout OptionsLump sum only
Premium Payment ModeAnnual, half-yearly, quarterly and monthly
Premium Paying TermRegular Pay, Limited Pay (5, 7, 10, 15, Pay till 60), Single Pay

Key In-built Features of Kotak Signature Term Plan

    • Special Exit Value: You can exit the policy before maturity and get a refund of all premiums paid, subject to the plan’s terms and conditions. This feature does not apply to a policy term of less than 40 years.
    • Insta Payout: In the event of the unfortunate death of the life insured, ₹2 lakh will be paid within two working days from the sum assured. This applies after the completion of three consecutive policy years.
    • Health and Wellbeing Benefits: The life insured can avail themselves of health & wellbeing management services, including telemedicine / in-person consultations, home healthcare, and more.

Did You Know?

Female policyholders can get up to a 16% discount on premiums for the entire premium-paying term. Salaried customers also get extra first-year discounts: 5% for regular or limited pay options and 1% for single premium plans.

What Are the Riders Offered by Kotak Signature Term Plan?

    • Accidental Death Benefit Rider: Pays an additional lump sum to the nominee if death occurs due to an accident.
    • Critical Illness Plus Benefit Rider: Provides a payout on diagnosis of 37 critical illnesses, with a 90-day waiting period and 30-day survival requirement. The rider coverage can run up to age 75.
    • Permanent Disability Benefit Rider: In the event of a permanent disability occurring to the life assured, this rider provides for 120% of the rider sum assured to be paid in instalments over 5 years.
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Kotak Signature Term Premiums Across Term Policies

AgeKotak SignatureHDFC C2P SupremeICICI Iprotect Smart PlusAxis Max Smart Term Plan PlusBajaj Life Etouch II
25₹18,000₹21,003₹17,014₹18,400₹16,105
30₹22,400₹26,471₹21,237₹22,556₹20,717
35₹29,200₹35,241₹28,238₹28,506₹26,953
40₹39,200₹44,798₹39,594₹38,760₹36,951

The listed premiums are for a non-smoker profile, male with sum assured (SA) of ₹2 crore (coverage till age 70, without first year discounts)

Key Insight: Kotak Signature premiums range from ₹18,000 to ₹40,000. They are not the most expensive when compared to HDFC Life and Axis Max. However, when compared to Bajaj and ICICI Prudential, the plan does appear slightly costlier.

Inclusions and Exclusions of Kotak Signature Term Plan

InclusionExclusion
Natural death, like cardiac arrestSuicide within the first policy year
Death due to terminal or critical illnessDeath due to participation in undisclosed hazardous or extreme sports
Death due to natural disasters or pandemic-relatedDeath due to intoxication or substance abuse
Accidental death Death while committing a criminal act or homicide

Note: As per IRDAI, if the policyholder dies by suicide within the first year of buying or reviving the policy, the insurer will reject the claim and refund around 80% of the total premiums.

Why Choose Ditto for Term Insurance?

At Ditto, we’ve assisted over 8,00,000 customers with choosing the right insurance policy. Why do customers like Vijay below love us:

Kotak Signature Term Plan
    • No-Spam & No Salesmen
    • Rated 4.9/5 on Google Reviews by 15,000+ happy customers
    • Backed by Zerodha
    • Dedicated Claim Support Team
    • 100% Free Consultation

You can book a FREE consultation. Slots are running out, so make sure you book a call now!

Ditto’s Take on Kotak Signature Term

Kotak Signature is a simple, no-frills term plan focused on stable premiums and long-term cover. However, it can feel basic compared to newer plans, as it lacks built-in features like premium breaks, terminal illness benefit and popular riders such as waiver of premium.

If you are looking for a term plan from insurers with established track records and affordable riders, we recommend comprehensive plans, which align with your long-term goals. Explore more about how our experts evaluate term plans through Ditto’s cut.

Note: Ditto is not a partner of Kotak Life Insurance. All information in this article is based on details available on Kotak Life’s official website and other publicly available sources.

Frequently Asked Questions

Can customers avail of loans under this term policy?

No. Term insurance plans generally do not build cash value, so loans are not available.

How can I locate a Kotak Life branch?

You can find a Kotak Life branch by using the branch locator on the official Kotak Life website.

How can I file a claim at Kotak Life?

You can raise a complaint through customer care, email, the official website, or by visiting your nearest branch.

How can I contact Kotak Life Insurance?

You can contact them through their customer care helpline at 1800-209-8800 or send a 'Hi' at their WhatsApp number 9321003007. You can also visit the nearest branch for in-person support.

How can I pay my term insurance premium?

You can pay your term insurance premium online, via auto-debit, net banking, UPI, debit or credit cards. Alternatively, you can  visit the nearest Kotak Life branch to pay your premiums offline.

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