Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

Kotak e-Term

Protect Your family’s financial future with Kotak e-Term. Know more

Kotak Assured Savings Plan

A plan that offer guaranteed returns and financial protection for your family. Know more

Kotak Guaranteed Savings Plan

A plan that offers long term savings and insurance in one premium. Know more

Kotak e-Invest

Insurance and investment in one plan with Kotak e-Invest. Know more

Kotak Lifetime Income Plan

Retirement years are the golden years of life. Know more


Get a Call

Enter your contact details below and we will get in touch with you at the earliest.

  • Select your Query

Thank you

Our representative will get in touch with you at the earliest.

6 Things You May Not Know about Life Insurance

Everyone knows what life insurance is, as it is one of the most commonly bought insurance plans.

  • Jun 17, 2019

Everyone knows what life insurance is, as it is one of the most commonly bought insurance plans. In case of an unexpected demise of a life insurance policyholder during the tenure of the plan, the nominees receive a pre-decided amount of money. However, a life insurance policy has other benefits that are not known to many people.

Here are six such things you should know about.

1. The money is tax-favored

The life insurance policy come with tax benefits. So, if you buy a life insurance plan and let it build you a little fortune over a certain amount of time, it can be a source of income that is completely tax-free. This money can be used for any purpose like going on a costly vacation or pay the educational expenses of your children.

2. Consider it as invisible money for your family

Buying a life insurance policy is an investment towards building a financially secured future for your family. The premiums you pay towards the policy do not show you any cash for a while, but you know that you are building an impressive amount of fund for the future. This is why it is considered as invisible money.

3. It comes with a premium wave-off option

A life insurance plan is a long-term insurance policy. You have to pay premiums regularly over the entire tenure of your policy. However, some insurers offer a rider with the policy that allows your future premiums to be waived off in certain cases. For example, if a policyholder is permanently disabled due to an accident the rider will be in effect.

4. It can help you grow a retirement fund

The worst part of your life after retirement is worrying about money. It is understandable too, as you can never know what lies in your future. Any life event can cause you to lose most of your savings. However, the life insurance policy can put your worries to rest. You receive a good amount of money when the plan matures. The money can be used to secure your life after retirement.

5. Disability and illness covers provide financial support

A life insurance plan generally provides the benefits only when the policyholder passes away during the tenure of the policy. However, some insurers offer additional riders in insurance that pay the insured a sum assured in case of accidental permanent disability or any critical illness.

6. It can help you get a loan

If you are ever applying for a loan and are unsure about what asset to use as collateral then the life insurance plan can help you. This feature of the policy is not commonly known but it is surely one of its best benefits.

There are many things to know about life insurance that are not common knowledge. However, if you know these features, you can get the best out of your investments.

Kotak e-Term

Download Brochure


  • Life Cover till 85 years for Life & Life Secure Option
  • 3 Payout Options
  • Special Rates for Women
  • Option to exit the policy with premium refund at the age of 60*
  • Special Rates for Non-Tobacco Users
  • Free Medical Check Up every 5th year**

Ref. No. KLI/22-23/E-BB/2435


- A Consumer Education Initiative series by Kotak Life

Similar Articles

What is Sum Assured in Endowment Policy?

Insurance Vs Investment - A Guide to Your Financial Goals

How Many Insurances Should I Have?

A Term Insurance Guide for Disabled People

Comparing low premium term insurance Is Not the Only Factor While Buying Life Insurance

Voluntary Life Insurance Policy Vs Group Life Insurance

NRI Premium Payment Options

Life Insurance for Overweight Applicants

8 Things to Consider Before You Buy Life Insurance

Term Life Insurance vs Accidental Death Insurance

Difference Between Money Back and Endowment Policy

Various Term Insurance Premium Payment Options Available in India

What is Human Life value and a Human Life Value Calculator?

How Much Life Insurance Costs and How Much Insurance Cover You Need?

Life Insurance with Money Back vs Without Money Back

How to Choose Life Insurance for All Ages?

Is it Possible to Reduce Life Insurance Premium without Affecting Sum Assured?

Guide for Buying Online Term Insurance Plans for Senior Citizens

Benefits of Buying Term Insurance Plan for Senior Citizens in India

How to Use Different Types of Life Insurance for Retirement Planning?

Why Should You Buy Term Insurance under the MWP Act (Married Women’s Property Act)?

Why Term Insurance for Women is Important?

What is the Current Trend in Term Insurance?

Does Family History Affects your Term Life Insurance Rates?

What Is Investment Insurance?

Why You Should Never Cancel Life Insurance Policy

Health Insurance VS Life Insurance

How Much Life Insurance Do You Need?

9 Most Important Things You Must Learn About Paying Life Insurance Premium

Staying Insured While Investing

Think About Life Insurance Sooner than Later

How Does Life Insurance Work?

In India, should NRIs purchase life insurance?

Why do most Indians choose the wrong way to buy life insurance?

Does Life Insurance Cover Terminal Illness?

What is Insurance Coverage? Overview, Types, and Examples

Sabse Pehle Life Insurance

1 CR Term Insurance Plan: How to Pick the Best 1 CR Term Plan

Role of IRDAI in the Insurance Sector

Important Life Insurance Terms You Must Know

Types of Life Insurance Policies in India

What are robo-advisors in insurance?

All About Backdating in Life Insurance

What Is Social Impact Investing and How Does It Benefit Society?

How to Choose the Right Life Insurance Policy for Your Age?

Choose the Nominee of a Term Life Insurance Plan Wisely

Importance of Checking Claim Settlement Ratio before Buying Life Insurance

All about Your Rights and Duties While Buying Life Insurance Policy

What Should One Consider Buying: Term Insurance or Traditional Life Insurance

Health Insurance VS Life Insurance

Life Insurance and Retirement Planning

“Life” Insurance or “Death” Insurance?

Does Life Insurance Policy Cover Covid Death?

When Should You Review Term Life Insurance of Yours?

जीवन बीमा क्या है?

जीवन बीमा पर ऋण

How do life insurance payouts work?

Life Insurance Vs. Mutual Funds Investment

How to Select a Perfect Life Insurance Policy in India to Protect Your Future?

5 Common Life Insurance FAQs and Answers

Choosing a Life Insurance Beneficiary

How to Find the Best Term Insurance Plan in Seven Steps

Why Online Term Insurance Plans Cheap?

Do Life Insurance Premiums Increase Every Year?

Different Kind of Deaths that are Not Covered in a Term Insurance Plan

Details Required To Be Filled In A Life Insurance Form

Customer Awareness on Information Security

Term Plan with Return of Premium (TROP)

Is It Advisable To Have Multiple Life Insurance Policies?

Why Buying a Term Insurance is Important for all Parents

All You Need to Know About KYC

Life Insurance Nominees: 5 Must-Know Facts for Beneficiaries

How to Choose a Life Insurance Policy

When are Millennials required to take out a life insurance policy?

5 Ways to ensure faster settlement of claims

All about Life Insurance Calculators

Most Common Life Insurance Riders to Enhance Your Existing Policy

What is Group Insurance?

Loan Against Life Insurance Policy

Kotak Life Claim Settlement Ratio

All about IRDAI

Always keep your Nominee informed

What are the Benefits of Endowment Policy?

Take 100% Responsibility of Your Family with Term Life Insurance

Best Insurance Plans in India

Adding A Child to Your Life Insurance Policy?

Why do I Need Life Insurance?

First Job? Here’s Some Tips on How to Manage Finances

Can a Term Plan be the Substitute for a Retirement Plan?

How Do Term Insurance Plans Differ for Smokers?

Why Renewal of Term Insurance Plan is Important

Term Insurance Vs Life insurance: Small Details, Big Differences

Why Life Insurance Is Always a Smart Decision

क्या जीवन बीमा एक निवेश है?

Why is Medical Test Important While Buying a Term Insurance?

FAQs on Life Insurance

Role of Life Insurance in Your Financial Portfolio

How to Calculate Human Life Value(HLV)?

How To Choose The Right Life Insurance

Digital Life Certificate for Pensioners Seeking Pension

How to Make Death Claims on Life Insurance?

Terms and Conditions of Term Insurance Plans

Why Your Family Should Know About Your Life Insurance Policy?

Term Insurance Tips for NRIs in India

How to Buy a Term Life Insurance Online

Different Types Of Life Insurance In India

Choosing Between Short-Term & Long-Term Insurance Plans

Process of Filing A Claim For Life Insurance

5 Reasons Why You Need Life Insurance in College

What Is the Procedure to choose a nomination in life insurance policy?

Difference Between Insurance and Assurance?

Top 5 Common Life Insurance Myths and Facts

वरिष्ठ नागरिकों के लिए ऑनलाइन टर्म इंश्योरेंस प्लान खरीदने के लिए गाइड

Key Things to Review in Your Life Insurance Policy Document

Term Insurance for Home Loan: How Term Plan Helps in Paying Off Home Loan?

Life Insurance Policy Closure

क्रिटिकल इलनेस राइडर के साथ टर्म इंश्योरेंस के लाभ

What Should One Expect During the Medical Evaluation for Life Insurance?

Guidelines for Linking Aadhar and PAN to Insurance Policies

Life Insurance Beneficiary

भारत में सर्वश्रेष्ठ टर्म प्लान कैसे चुनें?

Reasons Why Term Insurance Claims Get Rejected

Types of Insurance You Must Invest in for Secure Future

5 Things to Keep in Mind While Buying Life Insurance Policy

Important Terminologies of Life Insurance

How Often You Must Review Your Life Insurance Policy?

Savings cum Protection Plans Secures Your Family from Unforeseen Events

How to Buy a Life Insurance Plan?

Should You Buy Life Insurance After Getting Married?

भारत में जीवन बीमा पॉलिसियों के प्रकार

Do Your Financial Planning with Life Insurance!

Insurance Changes You Need to Make Post Marriage

How to Revive the Lapsed Life Insurance Policy?

Why One Must Buy Term Insurance before 25 Years

How Much Life Insurance Cover Do I Need?

Does Life Insurance Pay for Suicidal Death?

What Is Surrender Value (Cash Surrender Value) in Insurance and how is it calculated?

बीमा क्षेत्र में IRDAI की भूमिका

What is the Difference Between Limited and Regular Pay Insurance Plan?

7 Superficial Reasons People Avoid Buying Insurance Online

Life Insurance for Millennials

Can NRI Buy Life Insurance in India?

Is Life Insurance an Investment?

What Is Insurance Rider and It’s Benefits?

Who Is A Nominee In A Life Insurance Plan?

Is Life Insurance For Millennials Really Needed?

Life Insurance vs Mutual Funds

How to Customize Your Life Insurance Policy with Riders

What Happens If I Stop Paying My Life Insurance Premium?

What is the Difference Between Insurance and Reinsurance?

Important Factors to Consider While Choosing the Right Term Period for Your Term Insurance Plan

5 Advantages of Life Insurance Going Digital

All You Need to Know About Life Insurance - Its Benefits, Features, and Types of Life Insurance

Can You Apply For A Life Insurance After Getting Heart Attack? Here is Everything You Need To Know

What is Minimum Life Insurance Policy?

Types of Life Insurance Or One Investment, Many Options

Compare Different Life Insurance Products Offered By Kotak Life

What Is The Life Insurance Penetration In India And How Does It Compare Globally?

Is it Worth Buying Disability Rider on Term Insurance?

Term Insurance Claim Process

What is a Single Premium Term Plan and its Tax Benefit?

5 Smart Steps to keep in mind while buying term policies

Different Types of Insurance Policies in India

Life Insurance for Overweight Applicants

6 Different Types of Insurance Policies

What is Underinsurance & The Dangers of Being Underinsured

5 Benefits of Gifting Life Insurance Cover to Your Spouse

Biggest Life Insurance Myths

Benefits of Term Insurance with Critical Illness Rider

Why Do Life Insurance Agents Avoid Selling Term Plans?

Can You Transfer Life Insurance Policies to Another Company in India?

Life Insurance and Millennials

Is it Possible to Make Changes in a Term Plan’s Specification Post Purchase?

What Is a Whole Life Insurance Plan?

Beware of Phishing & Fraud Insurance Calls

5 Reasons Why a Women Should Buy a Life Insurance

Important Features of a Term Insurance Plan

All About Life Insurance and How It Works?

Are Deaths Due To Coronavirus Covered by Kotak E-Term Plan?

Nominee in insurance - A Complete Guide on nomination in insurance

5 Easy Steps to Buying A Policy

What is Life Insurance?

Is Voluntary Life Insurance the Same as Basic Life Insurance?

What Is Staggered Payment Option Under Term Insurance Policy?

Can An Individual Buy Multiple Term Insurance Plans?

Is It Time to Review Life Insurance Policy of Yours?

What happens to joint life insurance after divorce?

Life Insurance Plans for Women