Key Features
1. Life Cover
With this plan, you can provide your family with a guaranteed life insurance cover—that is, the nominee will receive the proceeds in the event of the insured’s death.
2. Optional Add-ons (Riders)
Accidental Death Benefit: If death occurs due to an accident, an additional amount will be available.
Critical Illness Cover (Options for 60 diseases): Additional protection for critical illnesses like cancer, heart attack, organ failure.
3. Select Payment Options
The nominee can receive the amount in the event of death in the following ways:
- Lump sum
- As monthly income
- Lump sum + monthly income
- “Increasing Income” (increase in monthly income each year)
4.Terminal Illness Benefit
If the individual develops a condition that is likely to cause death within the next six months, the sum assured will be paid before death.
5. Premium Break / Premium Waiver
If financial conditions are bad, there is an option to avail a 12-month premium waiver, meaning you can delay paying your premiums, but your insurance cover will remain intact.
6. Instant Payout
Up to ₹3 lakh can be received immediately upon filing a claim (subject to certain conditions), if the sum insured is ₹1 crore or more.
7. Age Limit and Term
This plan can be taken for a very long term—there is an option to extend the age of Kavach up to 99 years.
8. Discounts and Tax Benefits
- Discounts on online purchases
- Special discounts for salaried individuals in the first year
- Income tax exemptions on premiums (Section 80C, etc.) and tax-free death benefit.
