What is the Kotak Saral Suraksha Plan? Reviews, Features & Benefits

Kotak Life Saral Suraksha is a pure term plan under which the nominee gets Sum Assured as a death benefit in case of the life insured’s death during the policy tenure. The policy does not pay anything to the policyholder in case he/she survives the term. This policy does not have any maturity or survival benefits. An individual can make a premium payment one time or spread across 5 years. The benefit remains for 5 years or 10 years as selected.

What are the features of the Kotak Saral Suraksha Plan?

• Since this is a pure term insurance plan with a death benefit, it does not involve any maturity benefit
• The plan does not require medical tests 
• Minimal documentation 
• Surrender Benefit can be availed under Single Premium Policies 

What are the benefits offered by Kotak Saral Suraksha Plan?

• Death Benefit – In case of the death of the policyholder, the nominee gets the sum assured.
• Maturity Benefit – No maturity benefits are provided under this plan.
• Income Tax Benefit - Life Insurance premiums of up to Rs. 1,50,000 can be availed as a deduction from total taxable income per financial year under section 80C of the Income Tax Act.

For individuals who have a family dependent on them, there could be financial troubles in case of the individual’s absence. Since life is unpredictable, a breadwinner’s absence can result in a lot of trauma for the family. Those who want to secure their family’s financial future can opt for this plan as it provides financial help to the family in case of the policyholder’s death. This is an ideal low-cost term plan to protect one’s dear ones from financial troubles in the future.