Riders
 
Home> For Individuals>  Riders
Overview
Every person has a different need and we at Kotak Life Insurance recognize this. To give you the flexibility to customize and enhance your cover, we offer a set of riders which you may opt for along with your basic policy and shape your policy to suit your individual needs.
The riders may be availed of at the time of purchasing the plan, at a nominal cost. The maximum amount of benefit you can avail is equal to the basic sum assured and depends on the rider selected. However, the aggregate premium on all value-adds should not exceed 30% of the basic premium.
 Term/Preferred Term Benefit*
In the event of death of the Life Insured during the term of this benefit, the beneficiary would receive an additional death benefit amount, which is over and above the sum assured. The maximum amount of benefit that is available is equal to the basic sum assured.
For male non-smokers and females, who want a Term Benefit cover of more than Rs.10 lakhs, the ‘Preferred Term Benefit’ rider is recommended; subject to eligibility conditions.
 Accidental Death Benefit (ADB)*
If the Life Insured dies of an accident within 120 days from the date of accident and the beneficiary proves the same to the satisfaction of the Company, then the Accidental Death Benefit sum assured will become payable.
The maximum cover available under this benefit is equal to the basic sum assured (subject to a maximum of Rs 10 lakhs).
 Permanent Disability Benefit (PDB)*
If the Life Insured becomes totally and permanently disabled due to an accident and the policyholder proves the same to the satisfaction of the Company, the Permanent Disability Benefit sum assured will be paid as five annual installments of 12% of the sum assured, starting on the date that disability is admitted by the Company, followed by a final payment at the end of the fifth year of 60% of the sum assured. The life insured should survive for at least 120 days from the date of the accident. The policyholder should write to the Company giving the details of Permanent and Total disability in the required format, within 150 days after the happening of the disability. Permanent Disability is defined as permanent and immediate inability to work or permanent loss of use of any two limbs or total and permanent loss of sight or injuries that permanently preclude following an appropriate occupation from the date of accident onwards.
The maximum cover available under this benefit is equal to the basic sum assured (subject to a maximum of Rs 10 lakhs).
 Critical Illness Benefit (CIB)*
This benefit can be added to the basic life insurance plan to provide financial support in the event of medical emergencies. On the first occurrence of critical illness during the term of the plan, you would receive a portion of the sum assured to help you reduce your financial burden in this emergency.
The maximum Critical Illness Benefit that you can avail depends on the basic plan subject to a maximum of Rs 20 lakhs.
 Maximum Critical Illness Benefit Allowed
For Kotak Loan Protection Plan, Kotak Flexi Plan, Kotak Capital Multiplier Plan, Kotak Retirement Income Plan (with cover) and the Kotak Retirement Income Plan (Unit-linked) with cover the maximum Critical Illness Benefit that you can avail of is equal to the basic sum assured (subject to a maximum of Rs 20 lakhs).
For Kotak Platinum Advantage, Kotak Headstart Assure Wealth, Kotak Headstart Future Protect, Kotak Eternal Life Classic Shield, Kotak Eternal Life Premier Shield, Kotak Long Life Secure Plus and Kotak Long Life Wealth Plus, the maximum Critical Illness Benefit that you can avail of is 75% of the basic sum assured (subject to a maximum of Rs 20 lakhs).
For Kotak Endowment Plan, Kotak Money Back Plan, Kotak Term/Preferred Term Plan, Kotak Easy Growth Plan (5 Times Cover) and Kotak Safe Investment Plan II, the maximum Critical Illness Benefit that you can avail of is 50% of the basic sum assured (subject to a maximum of Rs 20 lakhs).
After the Critical Illness Benefit is paid, the basic sum assured and all the benefits dependent on the basic sum assured will reduce in the same proportion that the Critical Illness Benefit bears to the basic sum assured at the time of claim. The list of critical illnesses is:
  • Heart Attack (MI)
  • Cancer
  • Stroke
  • Coronary artery by-pass graft surgery (CABG)
  • Kidney failure
  • Major organ transplants
  • Paralysis
  • Loss of limbs
  • Aorta surgery
  • Major burns
  • Heart valve surgery
  • Blindness
 Life Guardian Benefit (LGB)*
In case of the unfortunate death of the policyholder, this benefit keeps the policy alive by waiving all future premiums on the policy. This benefit can be availed of only when the Life Insured and Policyholder are two different people.
 Accidental Disability Guardian Benefit (ADGB)*
In case the policyholder is permanently disabled as a result of accident, this benefit keeps the policy alive by waiving all future premiums on the policy.
Permanent Disability is defined as permanent and immediate inability to work or permanent loss of use of any two limbs or total and permanent loss of sight or injuries that permanently preclude following an appropriate occupation from the date of accident onwards.
* Please read the Policy Document for the complete Terms & Conditions
 ELIGIBILITY
Eligibility Conditions Term / Preferred Term Benefit / ADB / PDB CIB LGB / ADGB (for the Proposer)
Age at entry Minimum 18 yrs.& Maximum 60 yrs Minimum 18 yrs & Maximum 60 yrs Minimum 18 yrs & Maximum 50 yrs
Maximum Premium Ceasing Age 70 years 70 years 60 years
Benefit Term Less than or equal to the premium payment term # Equal to the premium payment term # Equal to the premium payment term #
Mode of Payment: As of the Basic policy As of the Basic policy As of the Basic policy
# For Kotak Headstart Future Protect; ADB, PDB and CIB Rider benefit term can be equal to policy term. ADGB Rider Benefit term has to be equal to premium payment term
# Kotak Long Life Secure Plus; ADB and CIB benefit term is equal to the policy term.
Click here to view Riders available with the Non – Unit Linked Plans.
Click here to view Riders available with the Unit Linked Plans.
Exclusions for Accidental Death Benefit, Permanent Disability Benefit, Critical Illness Benefit and Accidental Disability Guardian Benefit:
  • Self inflicted injuries, suicide, insanity, immorality, committing any breach of law or being under influence of drugs, liquor etc.
  • When the Life Insured is engaged in aviation or aeronautics other than as a passenger on a licensed commercial aircraft operating on a scheduled route.
  • Due to injuries from war (whether war is declared or not), invasion, hunting, mountaineering, motor racing of any kind, other dangerous hobbies or activities, or having been on duty in military, Para-military, security or police organization.
Additional Exclusions for Critical Illness Benefit:
  • Unreasonable failure to seek or follow medical advice.
  • Any pre-existing medical condition not disclosed at inception.
  • Alcohol or solvent abuse, or taking of drugs except under the direction of a registered medical practitioner.
  • Infection with Human Immunodeficiency Virus (HIV) or condition due to any Acquired Immune Deficiency Syndrome (AIDS). For the purpose of this rider, the definition of aids will be the one that is used by the World Health Organization at the date of onset or that used by any other appropriate Government or international organization. Infection by HIV will be deemed to have occurred where blood tests indicate the presence of the virus or any antibodies to it.
  • In addition, no benefit would be paid in respect of the exclusions specific to each critical illness.
The above exclusions shall be in addition to the exclusions provided under the Base Policy.
Kotak Accidental Death Benefit Rider UIN 107C001V01, Kotak Permanent Disability Benefit Rider UIN 107C002V01, Kotak Term Benefit Rider UIN 107C003V02, Kotak Critical Illness Rider UIN 107C004V02, Kotak Accidental Disability Guardian Rider UIN 107C011V01, Kotak Life Guardian Rider UIN 107C012V01, Kotak Preferred Term Benefit Rider UIN 107C013V01

Kotak Mahindra Old Mutual Life Insurance Ltd. Regn. No.:107, Regd. Office: 9th floor, Godrej Coliseum, Behind Everard Nagar, Sion (East), Mumbai – 400 022. Website: www.kotaklifeinsurance.com Email: lifeexpert@kotak.com Toll free No. 1800 209 8800
Please refer to the policy documents for the complete Terms and Conditions of the riders.
Insurance is the subject matter of the solicitation. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. In this policy, the investment risk in the investment portfolio is to be borne by the policyholder. Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Kotak Mahindra Old Mutual Life Insurance Ltd is only the name of the Insurance Company and Kotak Flexi Plan, Kotak Retirement Income Plan (Unit-linked) with cover, Kotak Platinum Advantage, Kotak Headstart Assure Wealth, Kotak Headstart Future Protect, Kotak Long Life Secure Plus Kotak Long Life Wealth Plus, Kotak Platinum Advantage and Kotak Smart Advantage are only the names of the unit linked life insurance contracts and do not in any way indicate the quality of the contract, its future prospects or returns. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document of the insurer.
Kotak Flexi Plan UIN 107L023V02- a unit linked non-participating endowment plan (Form No. KFP03), Kotak Capital Multiplier Plan UIN 107N011V01 (Form No. KCMP01)- a non-unit linked participating endowment plan, Kotak Retirement Income Plan (with cover) UIN 107N013V01(Form No. KRP01), Kotak Retirement Income Plan (Unit-linked) with cover UIN 107L031V01 (Form No. KRUL03)- a unit linked non-participating pension plan , Kotak Platinum Advantage Plan UIN 107L039V01 (Form No. KPtAP)- a unit linked non-participating plan, Kotak Headstart Assure Wealth (Single Life Plan) UIN 107L034V01 (Form No. HAW01)- a unit linked non participating child plan, Kotak Headstart Assure Wealth (Joint Life Plan) UIN 107L035V01 (Form No. HAW01)- a unit linked non participating child plan, Kotak Headstart Future Protect (Single Life Plan) UIN 107L037V01 (Form No. HFP01) a unit linked non participating child plan, Kotak Headstart Future Protect (Joint Life Plan) UIN 107L038V01 (Form No. HFP01)- a unit linked non participating child plan, Kotak Longlife Secure Plus UIN 107L044V01 (Form No. LLSP)- is unit linked non participating endowment plan, Kotak Longlife Wealth Plus UIN 107L045V01 (Form No. LLWP)- a unit linked non participating endowment plan), Kotak Child Advantage Plan UIN 107N008V01 (Form No. KCAP01)- a non-ulip participating plan, Kotak Endowment Plan UIN 107N002V01 (Form No. OMEP01) – a non-unit linked participating plan, Kotak Eternal Life - Classic Shield UIN 107N040V01 (Form No. ELCS01), Kotak Eternal Life - Premier Shield UIN 107N041V01 (Form No. ELPS01), Kotak Money Back Plan UIN 107N003V01 (Form No. OMM01), Kotak Sukhi Jeevan UIN 107N036V01 (Form No. SJ01)- a non-unit linked participating plan, Kotak Safe Investment Plan II UIN 107L021V02 (Form No . KSIP04)- a unit linked non-participating Plan, Kotak Smart Advantage UIN 107L043V01 (Form No. KSAP) – a unit linked non-participating plan, Kotak Term Plan UIN 107N005V03 (Form No. KTP02)- a non-unit linked participating plan and Kotak Preferred Term Plan UIN 107N009V03 (Form No. KPTP02)
   Download Brochure    Calculate Premium    Download Forms