Now you can buy life insurance plans completely online right here.
Kotak e-Term Plan is a pure term plan that provides a high level of protection to your loved ones in your absence.
The Kotak Health Shield Plan helps secure your finances in times of sudden medical expenses related to illness such as Cardiac, Liver, Neuro and Cancer (all early and major stages of illness /conditions of Cancer); along with offering protection for Personal Accident - in case of accidental death or disability.
Kotak Lifetime Income Plan gives you the assurance of your income continuing throughout your life and in your absence throughout the lifetime of your spouse!
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An insurance plan is like an umbrella on a rainy day. Whenever it rains, you pull out the umbrella, and whenever you are in trouble, you look for an insurance cover. A term plan offers coverage for your life. It provides cover for a specific duration at a low amount of premium. In case of an unfortunate event, the insurer will provide your family with financial security.
With increasing age and various changes that happen in your life, you must evaluate your cover to ensure that you have adequate protection at all times. Here are a few compelling reasons for you to re-evaluate the cover.
Whenever there is an increase in dependents, you need to review term insurance online. There will be an increase in dependents when you get married, have children, or when your parents retire and they are dependent on you. As and when there is an increase in dependents, you need to look at different ways to include them in your coverage.
A liability like a long-term loan requires a re-evaluation of the sum assured. You would want your dependents to pay off the same without any financial stress. This is why you need to evaluate the term insurance plan. If you were not going to be around, you would not want your loved ones to be under a pile of debt. Include all the liabilities and consider a higher cover.
You might have to increase the term insurance cover due to a change in the family circumstance. If your spouse resigns from the job or if your parents move in with you, it will be essential to revise the insurance cover.
When you hear negative reviews about the insurance company, it is time to reconsider the policy and look at other options. You can also move to another insurer and look for term life insurance online.
If you have got a promotion and are now earning a higher income as compared to the past, you will have to re-evaluate your insurance requirements. This is mainly because your family will be enjoying an expensive lifestyle and you will have to increase the coverage to help them maintain the standard of living in your absence.
If you do not make the most of the available tax benefits under the Income Tax Act, 1961, you need to consider increasing term insurance. With high coverage, you might have to pay a high premium amount and thereby avail of a high tax benefit.
Remember, it makes no sense to be over-insured and pay a premium that is beyond your means. However, it is not a good idea to remain under-insured as well. Hence, you must review the term life insurance plan and re-evaluate it when required.
- A Consumer Education Initiative series by Kotak Life
Kotak e-Term Plan is a pure term insurance plan that provides a holistic life protection at affordable prices. Find out the eligibility criteria, key ...Know more
The Kotak Term Plan is a pure risk cover plan and an economical way of providing an adequate level of financial protection.Know more