ICICI Prudential Term Insurance Vs Kotak Mahindra Life Term Insurance

Life is super uncertain. Nobody can predict what can happen in the next moment. If you are a single earning member of your family, it’s a necessity that you have term insurance. Various insurance companies provide different term insurance plans, but here, we will be looking at the term insurance plans by two of the most competitive insurers in the market – ICICI Prudential Life Insurance and Kotak Mahindra Life Insurance providing the best term life insurance plans.  

ICICI Prudential Term Plans vs Kotak Mahindra Life Insurance Term Plans Overview

Term Insurance policies – ICICI Prudential vs Kotak Mahindra Life Insurance

Counted amount of the top insurers in the country, ICICI Prudential Life Insurance, is a joint venture between ICICI Bank and Prudential Corporation Holdings Limited. The leading insurer began its operation in 2001 and offered a varied range of products to cater to different needs of people at their various life stages.

Kotak Mahindra Life Insurance is amongst the fastest-growing private insurers in India, offering multiple affordable term insurance plans and other life insurance products. The company strives to add value to people’s lives by providing long-term savings and security options that fit your budget.

So here, you can compare ICICI Prudential and Kotak Mahindra Life Insurance term plans on different parameters and pick the right one as per your requirement.

Term Insurance Plans by ICICI Prudential vs Kotak Mahindra Life Insurance

ICICI Prudential Term Plans

• The term plans by ICICI Prudential are carefully designed to meet the varied requirements of the customers.
• ICIC Prudential offers 5 different term plans with various features and benefits – ICICI Pru iProtect Smart, ICICI Pru Saral Jeevan Bima, ICICI Pru iCare II, ICICI Pru Life Raksha and ICICI Pru POS iProtect Smart.
• In addition to life cover, ICICI Prudential term plans provide critical illness cover paid out if the policyholder is diagnosed with any of the 34 specified critical illnesses covered in the plan, such as cancer, heart attack, etc. more.
• The term plans also give additional cover benefits if the policyholder dies in an accident.
• You get the flexibility to choose from various premium payment terms and payout options.

Why choose ICICI Pru Term Insurance Plan?

• ICICI Prudential has various comprehensive term plans to cover any unforeseen event.
• Policyholders can benefit from longer cover benefits as the term policies offer coverage till the age of 85 or for the whole life, that is, 99 years of age.
• ICICI Prudential term plans are also covered under the Married Woman’s Property Act, which protects the money received under this policy from any other creditors or outside claims, giving your family an additional layer of protection.

Kotak Mahindra Term Insurance

• Kotak Mahindra term insurance plans ensures the financial security of your loved ones in your absence.
• The 3 term plans by Kotak Mahindra includes Kotak Term plan, Kotak e-Term Plan and Kotak Saral Jeevan Bima.
• The term plans cover accidental death, permanent disability, critical illness through various riders.
• Kotak Mahindra term plans come with different payout options – immediate payout, level recurring payout, and increasing recurring payout and premium payment modes – single, monthly, quarterly, half-yearly, and yearly. You can choose as per your convenience and preference.

Why choose Kotak Mahindra Life Term Insurance?

• Kotak Mahindra Life Insurance offers a range of term insurance plans to match various requirements of its customers.
• The term plans are carefully designed to secure the insured’s family from uncertainties.
• Kotak Mahindra Life Insurance gives flexible options to policyholders to choose from the different premium payment and payout options. 
• The company is known for its quality and transparent customer service, wherein the insurer can be easily reached through call, email, Whatsapp, chatbox, and webform.