Max Life Term Insurance vs Kotak Mahindra Life Term Insurance

Life is unpredictable, and it is necessary to financially secure your loved ones’ future so that they do not have to compromise on their lifestyle and aspirations. Here, term insurance plays a crucial role in ensuring the financial security of your family members in your absence. Term plans provide high sum assured at affordable premiums, but it is essential to select the right term plan with the right amount of sum assured to have a comprehensive life cover. Therefore, below are the details of the term plans by Max Life Insurance and Kotak Mahindra Life Insurance to know about their features and benefits.

Max Life Term Plans vs Kotak Mahindra Life Insurance Term Plans Overview

Term Insurance policies – Max Life Insurance vs Kotak Mahindra Life Insurance

Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of the Max Group, an Indian multi business corporation. Max Life has a total claims paid ratio of 99.35% as per the annual audited financials for the FY 20-21.

Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multichannel distribution including agency and third party distribution partners.

Counted among India’s fastest-growing private insurance companies, Kotak Mahindra Life Insurance Company Ltd. offers a host of affordable life insurance products, including term insurance plans with various benefits and features. The company was founded in the year 2001 and constantly striving to add value to people’s lives through different well-thought financial instruments.

So here, you can compare Max Life Insurance and Kotak Mahindra Life Insurance term plans on different parameters and pick the ideal one per your requirement.

Term Insurance Plans by Max Life Insurance vs Kotak Mahindra Life Insurance

Max Life Insurance Term Plans

• Max Life insurance term plans are uniquely designed to give total financial assurance from death, disability, and diseases. 
• Max Life Insurance offers 3 distinctive term plans – Max Life Online Term Plan Plus, Max Life Super Term Plan, and Max Life Smart Term Plan to match with different prerequisites of its clients. 
• The term plans come with flexible options to increase life cover as per the growing necessities in life and different choices for premium payment. 
• The term plans under Max Life Insurance offer long haul inclusion till 85 years old.
• These plans also offer maturity benefits by returning the premiums paid on policy maturity. 
• Max Life term insurance plans additionally give a choice to add riders to the base policy to widen the scope of the existing coverage.

Why choose Max Life Insurance term plans? 

• Max Life Insurance offers different term plans taking into account the various requirements of its clients. 
• The term insurance plans by Max Life Insurance can be customized as per one’s needs and are reasonably priced to not put the burden on the policyholder over the long haul. 
• Tax benefits are pertinent according to the existing laws of the Income Tax Act. 

Kotak Mahindra Term Insurance

• Kotak Mahindra term plans guarantees financial safety for the insured’s family member in their absence.
• Kotak Mahindra Life Insurance offers 3 term plans to match varied requirements of the customers – Kotak Term plan, Kotak e-Term Plan, and Kotak Saral Jeevan Bima. 
• The term plans provide protection against critical illness, accidental death, permanent disability through different riders. 
• Kotak Mahindra term plans accompany distinctive payout choices, including immediate payout, level recurring payout, and increasing periodic payout and premium payment options such as single, monthly, quarterly, half-yearly, and yearly. The policyholder can pick according to their comfort and inclination. 

Why choose Kotak Mahindra Life Term Insurance?

• Kotak Mahindra Life Insurance offers a bouquet of affordable term insurance plans intending to fulfill different prerequisites of its clients. 
• The term plans are carefully designed to provide comprehensive protection to the insured’s loved ones from vulnerabilities. 
• Kotak Mahindra Term Insurance Plans gives flexible choices to policyholders to opt from different premium payment and payout choices. 
• The company is known for its transparent and excellent service as the customer can easily reach the insurer either through call, email, Whatsapp, chatbox, or webform.