Kotak e-Term Plan
Kotak e-Term Plan provides a high level of protection to your loved ones in your absence.
Kotak E-Invest Plan
Kotak e-Invest plan is a complete Unit-Linked Insurance Plan that can be customized as per your goals and needs.
Kotak Guaranteed Savings Plan
Kotak Guaranteed Savings Plan is a savings and protection plan that helps you achieve long-term financial goals and provides an insurance cover against any eventuality.
Kotak Lifetime Income Plan
Kotak Lifetime Income Plan gives you the security of your income continuing thru your life and in your absence throughout your spouse's lifetime!
Kotak Health Shield
Kotak Health Shield Plan helps secure your finances in sudden medical expenses such as Cardiac, Liver, Neuro, and Cancer (all early and significant illness stages/conditions of cancer), along with offering protection for personal accidents - in case of accidental death or disability.
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Insurance policies safeguard you from unforeseen risks and dangers, making sure that you and your assets are protected. There are several insurance policies that you can buy at affordable prices today. But do you know all the different types of insurance policy available? Let’s go through the multiple policies one-by-one.
Insurance policies can safeguard you from unforeseen risks. You can insure your health, life, home, and so many other things with a premium for a pre-decided cover. Let us understand different types of insurance policies:
Life insurance policy provides a monetary compensation to the insurer’s family and secures them in case of uncertainty. There are numerous policies that also give maturity benefit if you survive the policy term, to fulfil long-term financial goals. Life insurance plays a vital role if you are the sole earner of the family and you have dependents.
In the absence of such insurance, your family would have to pay off your debts and look after their needs without financial assistance. This could lead them to depend on family relatives. But having insurance relieves them from such hardship as a death benefit would be given by the insurer in the event of your death.
Health insurance may sound similar to life insurance but this type of policies is bought to cover any costs of medical treatments and procedures. There are policies available for specific ailments but a health insurance policy can be bought. They cover the cost of treatment, medication and hospitalization.
Motor insurance covers vehicles against theft, man-made or natural calamities, damage from accidents, etc. Many policies also provide cover against damage done to your vehicle by a third party. Such motor insurance policies include two-wheelers, four-wheelers, commercial vehicles, etc.
In such insurances, any problems arising while travelling like loss of baggage, loss of passport, accidental death and many more are covered. You can buy travel insurance before planning a trip to secure yourself on a domestic or international vacation.
Home insurance covers your home from any natural or man-made calamities, theft, fire and burglary. The policy not only covers your house but also the valuables and things inside the house.
In this type of insurance, you are covered against damage caused to your property or valuables. Many natural calamities are also covered under fire insurance. But one should be cautious and enquire about what is not included in the policy
While buying different types of insurance policies, you should go through all the paperwork and keep updating the policy as the years go by. You should be aware of the calamities or circumstances that are excluded from the policy to avoid any kind of loss.
- A Consumer Education Initiative series by Kotak Life
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