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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 e-Invest is a comprehensive Unit Linked Life Insurance Plan that can be customized as per your goals and needs - be it protection; investment; financial security for child or retirement planning.
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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Term policies offer death benefit to the immediate family, but one thing that goes unnoticed is that not everyone is a pro at handling finances. When the family receives a lump sum amount as cover, the amount might be big and the family might not be good at handling finance. For such people, there is a staggered payment option.
In case you are wondering about what staggered payment is, we are here to help you understand the idea behind it and how you can opt for one.
Staggered payment is an option under a term plan wherein the nominee(s) receive a portion of the sum assured as a lump sum, and the remaining money comes in form of monthly or annual payments.
The duration of the payments varies from policy to policy. This way, the nominees do not have to worry about what to do with the lump sum, and they can plan their finances accordingly. The monthly payments make it easier to take care of the household expenses without much hassle.
The staggered insurance payment option comes with two different choices:
Under this option, the remaining money after the lump sum payment is paid in monthly instalments. The payment amount is fixed and it is paid for a pre-determined period.
If you are worried about inflation, this option will surely ease your mind. When you opt for the increasing monthly income option, the increases the income by a certain percentage annually. This way, you can tackle the ever-rising expenses.
You must opt for the staggered payment option if:
- 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