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Features
Ref. No. KLI/22-23/E-BB/492
Financial planning with life insurance should be taken into focus so that you can set clear goals and safeguard for your family’s security. To know more click here!
Securing the financial future of your family is a priority. You can live your life to the fullest and chase your dreams without a worry only when you know that your loved ones will be taken care of after you. This is why financial planning with life insurance should be an integral part of your monetary goals.
Buying the life insurance policy early has various benefits. Firstly, when you are young and healthy, insurance companies offer you an affordable premium. Secondly, by getting the policy early, you allow your money to grow into a substantial corpus.
The life insurance policy is designed to provide monetary aid to the nominees of a policyholder if he or she passes away before the policy tenure is over. This makes the policy an important aspect of any financial plan. It secures the future of your loved ones.
The importance of life insurance is immeasurable. Every earning family member must realize that his or her dependents will fall into a financial crisis in case of an unfortunate event like death. To secure their financial stability, a life insurance plan can be used as a protective product.
In life, there is nothing more important than your loved ones. As a responsible family member,you need to do everything in your power to protect them from all financial constraints. A life policy can help with this.
Depending on the type of life cover you buy, the life insurance policy can provide you with the opportunity to use it as a savings product. The premiums you pay towards the policy build a sizable wealth. You receive the lump sum when the policy matures.
The untimely death of the breadwinner of a family is devastating. One of the most challenging things the surviving members face is the liability to repay the debts. If you have a life insurance plan, the death benefit received from it can be used to pay off the debts.
Undoubtedly, you have many long-term life goals like buying a home, providing high-quality education to your children, and living a comfortable retired life, among others. When you invest in a life policy, you make sure of a lump sum return,which can be used to meet those goals.
Under Section 80C of the Income Tax Act, 1961, the premium paid towards your life insurance plan is tax-deductible. Moreover, the proceeds that you receive from your policy come with tax benefits under Section 10 (10) D. These tax benefits make investing in a life policy even more fruitful.
You cannot build a happy and fulfilling future without proper financial planning. You have to set clear goals for your family’s financial security. A life insurance policy safeguards these goals by offering financial aid when you most need it.
Amit Raje is an experienced marketer who has worked in various Fintechs and leading Financial companies in India. With focused experience in Digital, Amit has pioneered multiple digital commerce in India. Now, close to two decades later, he is the vice president and head of the D2C business department. He masters the skill of strategic management, also being certified in it from IIMA. He has challenged his challenges and contributed his efforts in this journey of digital transformation.
Prasad Pimple has a decade-long experience in the Life insurance sector and as EVP, Kotak Life heads Digital Business. He is responsible for developing user friendly product journeys, creating consumer awareness and helping consumers in identifying need for life insurance solutions. He has 20+ years of experience in creating and building business verticals across Insurance, Telecom and Banking sectors
Features
Ref. No. KLI/22-23/E-BB/2435
The information herein is meant only for general reading purposes and the views being expressed only constitute opinions and therefore cannot be considered as guidelines, recommendations or as a professional guide for the readers. The content has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. Recipients of this information are advised to rely on their own analysis, interpretations & investigations. Readers are also advised to seek independent professional advice in order to arrive at an informed investment decision. Further customer is the advised to go through the sales brochure before conducting any sale. Above illustrations are only for understanding, it is not directly or indirectly related to the performance of any product or plans of Kotak Life.
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