Kotak e-Term Plan
Protect Your family’s financial future with Kotak e-Term Plan.
Kotak Assured Savings Plan
A plan that offer guaranteed returns and financial protection for your family.
Kotak Guaranteed Savings Plan
A plan that offers long term savings and insurance in one premium.
Insurance and investment in one plan with Kotak e-Invest.
Kotak Health Shield
Insurance against medical expenses related to heart, brain, liver and Cancer.
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: