We know how important for us to get a life insurance cover. Do you know the reason why It is necessary? Yes. The reason is that not everyone belongs from a wealthy family and suppose if there is only one person in the family who earns is accused of the accident? That is why. Life insurance is essential so that the family can receive some funds before the death of any particular person. When it comes to the insurance policy, then Kotak always comes to the list. In this post, we will be talking about Kotak Accidental Death Benefit Rider Insurance policy.
Kotak accidental death benefit rider insurance policy is very popular among people. It has some unique benefits to make sure the person and the family are officially protected from the need of funds. Let’s have a look at the policy advantages and disadvantages and who is eligible to take this policy.
Who is Eligible for this Policy?
Everyone is eligible for getting this policy, but the minimum age which is required is 18, and the maximum is up to 70 at the maturity state of policy.
Sum Assured and Premium Range – What you get and what it costs?
There is 50000 of Rs funds minimum assured for your policy and rest is up to 5 Lakh Rs depend upon the plan you chose during registration on the policy.
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What does it cover & what does it not?
Plan coverage:
- First, the policy does not offer the maturity benefit.
- The plan offers a rider for the unfortunate death that occurs in any way and terms of policy terms and conditions.
Exclusions:
- The policy does not cover self-incurred injuries.
- It does not cover injury from war, sports or mountaineering.
Features of Kotak Accidental Death Benefit Rider
- Policyholders of Kotak accidental death benefit rider will have three single options, rider and limited to choose from.
- The minimum premium period would be five years for single and rider insurance plans, and it is six years for the limited coverage. You can opt for a maximum of up to 40 years of premium coverage.
- You will have three flexible payment benefits.
- The rider will be active as long as the policy is active. The case will be different from the unfortunate death of the rider.
- In the event of unfortunate rider death, the nominee of the policy will receive the rest of the assured coverage and premium funds.
- The maturity benefit will depend upon the plan the rider chooses.
Why choose the Accidental Death Rider from Kotak?
- It does provide you with a life cover insurance from an unfortunate death. In simple words, the unfortunate death benefit to the nominee.
- You will be assured that due to your unfortunate death, your family is financially protected.
- It is linked to many other polices and your savings bank account.
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Conclusion:
These days getting a life insurance cover is more essential. It is because due to the increase in population, there is an increase in accidents as well. So, you need to be active and assure that after your unfortunate death, your family is financially protected. The Kotak accidental death benefit rider policy is for the same. You can check out every detail in this article. If there is anything left to ask, then you can ask us in the comments section.
