Close
Close

Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

Kotak Guaranteed Fortune Builder

A plan that offers guaranteed income for your future goals. Know more

Kotak e-Term

Protect your family's financial future. Know more

Kotak Assured Savings Plan

A plan that offer guaranteed returns and financial protection for your family. Know more

Kotak Guaranteed Savings Plan

A plan that offers long term savings and life cover. Know more

Kotak e-Invest

Insurance and Investment in one plan. Know more

Kotak Lifetime Income Plan

Retirement years are the golden years of life. Know more

Close

Get a Call

Enter your contact details below and we will get in touch with you at the earliest.

  • Select your Query

Thank you

Our representative will get in touch with you at the earliest.

Invest in Insurance to Secure Your Future

Insurance is an integral part of this future planning that helps us in ensuring that we have a financial backup for any situation that is uncalled for.

  • Jul 07, 2022
  • 5,075 Views

Life today has become too fast, and our living standards have also improved compared to what it was two decades ago. Today we have all the facilities at our disposal, but it comes at a cost. Today we maintain a lifestyle that needs excellent and futuristic financial planning to sustain and also provide for the next generation. In between so many expenses and a costly lifestyle, can we have enough savings in our accounts to ensure that we our future is financially secured?

The answer is a big yes. But you need a solid financial plan in place so that you never have to face a financial crunch in your future. To do this, you can take help from different financial product. And one of the products you might forget but you should not and that is insurance.

There are various types of insurance policies to invest in for achieving financial stability. In this article, we will be discussing the role of insurance for financially secure future and the types of insurance you must invest in for secure future.

Types of insurance you must invest in for a secure future

Why Is Insurance Important For A Financially Secure Future?

Life is unpredictable, and it is a truth that is known to all. All we can do is plan in advance for the years ahead of us. Insurance is an integral part of this future planning that helps us in ensuring that we have a financial backup for any situation that is uncalled for. An emergency situation can indeed cause a dent in your financial status, no matter how well you are earning. But if you have insurance like term life insurance, health insurance, and other important and mandatory insurances in your financial basket, you can rely on insurance to pay for the damage that you may go through.

Types of Insurance Policies To Invest In India

If you are among those who are planning to buy an insurance policy for themselves or their family, then the first thing that you must know is that there are certain insurances that are mandatory, like - auto insurance, which is mandatory by law. But, some insurances, like health insurance, are a must-have to ensure that our financial security is intact and there is a backup to meet any financial emergency. Let’s have a brief look at the types of insurance you must invest in for a secure future:

Term Life Insurance Policies

This is a type of life insurance policy that only offers death benefits and does not provide any maturity benefits. They are designed to offer you maximum to very high life cover at a basic premium cost. The main objective of this type of insurance policy is to provide financial protection to the nominee in case of the policyholder’s demise.

Whole Life Insurance Plans

It is a traditional life insurance plan that covers the life of the policyholder for as long as 100 years of age. This policy offers both death and maturity benefits to the nominee and policyholder, respectively.

Endowment Plans

These insurance plans are dual benefit plans that offer benefits both before and after the death of the policyholder. An endowment plan is a combination of both savings plans and insurance cover. It offers maturity and death benefits to the policyholder and nominee, respectively. In case of unfortunate demise of the policyholder, the sum assured will be paid to the nominee or the family, while in case the policyholder outlives the policy term, they will receive the sum assured along with all other bonuses.

Unit Linked Insurance Plans (ULIPs)

ULIPs are one of the most popular insurance policies that many people are opting for. Being a modern market-linked insurance policy, it offers the benefits of investing in the market funds while taking the protection of life insurance. Additionally, it also serves as a tax-saving financial avenue. In this insurance cum investment plan, your premium is split into two segments based on the policy requirements. One part goes towards the insurance premium, while the other part is allocated to the market fund(s) of your choice. ULIPs are considered a great long-term investment tool.

Conclusion

In general, the list of the types of insurance policies to invest in is pretty long, and you cannot opt for all the insurances. Thus, you must first prioritize your financial as well as personal goals and then look through the market for the best types of insurance you must invest in for secure future. This will help you and your family achieve better financial stability and security in emergency scenarios.

Kotak e-Term

Download Brochure

Features

  • Life Cover till 85 years for Life & Life Secure Option
  • 3 Payout Options
  • Special Rates for Women
  • Option to exit the policy with premium refund at the age of 60*
  • Special Rates for Non-Tobacco Users
  • Free Medical Check Up every 5th year**

Ref. No. KLI/22-23/E-BB/2435

T&C

- A Consumer Education Initiative series by Kotak Life

Similar Articles

Different Kind of Deaths that are Not Covered in a Term Insurance Plan

Choosing Riders for Insurance Plans

Best Insurance Plans in India

Important Factors to Consider While Choosing the Right Term Period for Your Term Insurance Plan

Term Plan with Return of Premium (TROP)

Advantages of Digitizing the Insurance Claims Process

Difference Between Insurance and Assurance?

Ensure Protection Against Death, Disease & Disability With Life Insurance

Different Types of Protection Plans

What is Underinsurance & The Dangers of Being Underinsured

Adding a Child to Your Life Insurance Policy?

Is It Time to Review Life Insurance Policy of Yours?

When are Millennials required to take out a life insurance policy?

Different Types of Insurance Policies in India

Can You Apply For A Life Insurance After Getting Heart Attack? Here is Everything You Need To Know

Terminal Illness Benefit in Term Insurance

Guidelines for Linking Aadhar and PAN to Insurance Policies

How Much Life Insurance Should You Have?

Customer Awareness on Information Security

Most Common Life Insurance Riders to Enhance Your Existing Policy

Different Types Of Life Insurance In India

How Much Term Life Insurance Cover Do I Need?

What is Insurance Coverage? Overview, Types, and Examples

Sabse Pehle Life Insurance

Is it Possible to Reduce Life Insurance Premium without Affecting Sum Assured?

Why do I Need Life Insurance?

Role of Life Insurance in Your Financial Portfolio

What Should One Consider Buying: Term Insurance or Traditional Life Insurance

Voluntary Life Insurance vs. Basic Life Insurance

How do life insurance payouts work?

Life Insurance Plans for Women

Life Insurance for Overweight Applicants

Why Do Life Insurance Agents Avoid Selling Term Plans?

5 Easy Steps to Buying A Policy

Who Is A Nominee In A Life Insurance Plan?

What is Group Insurance?

All You Need to Know About Life Insurance - Its Benefits, Features, and Types of Life Insurance

6 Different Types of Insurance Policies

Top 5 Common Life Insurance Myths and Facts

All about Your Rights and Duties While Buying Life Insurance Policy

What is the Difference Between Limited and Regular Pay Insurance Plan?

7 Superficial Reasons People Avoid Buying Insurance Online

Does Life Insurance Pay for Suicidal Death?

Biggest Life Insurance Myths

भारत में सर्वश्रेष्ठ टर्म प्लान कैसे चुनें?

What happens to joint life insurance after divorce?

What Is the Procedure to choose a nomination in life insurance policy?

What Is The Life Insurance Penetration In India And How Does It Compare Globally?

9 Most Important Things You Must Learn About Paying Life Insurance Premium

NRI Premium Payment Options

Life Insurance vs Mutual Funds

Compare Different Life Insurance Products Offered By Kotak Life

5 Things to Keep in Mind While Buying Life Insurance Policy

Is It Advisable To Have Multiple Life Insurance Policies?

Loan Against Life Insurance Policy

Can I Transfer My Term Life Insurance Policy to another Company?

Details Required To Be Filled In A Life Insurance Form

Do College Students Need to Buy a Life Insurance?

6 Things You Didn't Know Life Insurance Could Do

जीवन बीमा क्या है?

Is it Possible to Make Changes in a Term Plan’s Specification Post Purchase?

Life Insurance with Money Back vs Without Money Back

Do Life Insurance Premiums Increase Every Year?

5 Reasons Why a Women Should Buy a Life Insurance

Beware of Phishing & Fraud Insurance Calls

Benefits of Term Insurance with Critical Illness Rider

What are the Benefits of Endowment Policy?

भारत में गृहणियों के लिए टर्म इंश्योरेंस

Life Insurance Vs. Mutual Funds Investment

What is Insurance Premium? | Definition of Insurance Premium

जीवन बीमा पर ऋण

Why do most Indians choose the wrong way to buy life insurance?

Life Insurance Nominees: 5 Must-Know Facts for Beneficiaries

Term Insurance Vs Life insurance: Small Details, Big Differences

How to Choose a Life Insurance Policy

5 Common Life Insurance FAQs and Answers

Why Life Insurance is Always a Smart Decision?

All about Life Insurance Calculators

Why Porting Health & Life Insurance after Marriage is Important?

Backdating in Life Insurance: Should You Avoid it?

What is the Difference Between Insurance and Reinsurance?

Choosing Between Short-Term & Long-Term Insurance Plans

Does Life Insurance Policy Cover Covid Death?

6 Ways You Can Ensure Fast & Smooth Claim Settlement

Always keep your Nominee informed

Important Terminologies of Life Insurance

How to Use Different Types of Life Insurance for Retirement Planning?

Know the many types of life insurance policies in India

Process of Filing A Claim For Life Insurance

Role of IRDAI in the Insurance Sector

Difference Between Money Back and Endowment Policy

How Does Life Insurance Work?

What Happens If You Stop Paying Premiums of Life Insurance?

All About Life Insurance and How It Works?

How to Customize Your Life Insurance Policy with Riders

Types of Riders in Insurance Policy

Want to surrender your life insurance policy? Here's a guide

Think About Life Insurance Sooner than Later

Benefits of Term Insurance for Senior Citizens in India

What Is Insurance Rider and It’s Benefits?

Health Insurance VS Life Insurance

Nominee in insurance - A Complete Guide on nomination in insurance

Here's How to Choose The Tight Life Insurance

Why You Should Never Cancel Life Insurance Policy

बीमा क्षेत्र में IRDAI की भूमिका

How to Buy Life Insurance Policy Online?

How to Choose the Right Term Plan as per Your Age

Why is Medical Test Important While Buying a Term Insurance?

Importance of Checking Claim Settlement Ratio before Buying Life Insurance

What is Minimum Life Insurance Policy?

Factors to Check Before Buying Life Insurance in India

Life Insurance for Millennials

Health Insurance VS Life Insurance

What is the process of reactivating lapsed life insurance policy?

Insurance vs Investment - Know the Difference

Why Term Insurance for Women is Important?

Should You Buy Life Insurance After Getting Married?

What is Life Insurance?

Know the many types of life insurance policies in India

Important Life Insurance Terms You Must Know

What is KYC - Meaning, Types, and Importance

Why Your Family Should Know About Your Life Insurance Policy?

Benefits of Gifting Term Insurance to Your Spouse

How Much Life Insurance Do You Need?

भारत में जीवन बीमा पॉलिसियों के प्रकार

Life Insurance vs. Death Insurance: Exploring the Key Distinction

Term Life Insurance vs Accidental Death Insurance

Life Insurance for Overweight Applicants

Is Life Insurance For Millennials Really Needed?

1 CR Term Insurance Plan: How to Pick the Best 1 CR Term Plan

How to Select a Perfect Life Insurance Policy in India to Protect Your Future?

Comparing low premium term insurance Is Not the Only Factor While Buying Life Insurance

Is Life Insurance Worth It?

Can a Term Plan be the Substitute for a Retirement Plan?

How often should I review my policy?

क्या जीवन बीमा एक निवेश है?

What Is Investment Insurance?

Key Things to Review in Your Life Insurance Policy Document

How to Choose Life Insurance for All Ages?

Choosing a Life Insurance Beneficiary

What Is the Difference Between Group Term and Voluntary Term Life Insurance?

How Do Term Insurance Plans Differ for Smokers?

Insurance and Endowment: Everything You Need to Know!

Life Insurance Beneficiary

Single Premium Term Insurance: Meaning & Tax Benefits

All about IRDAI

What are robo-advisors in insurance?

Life Insurance and Retirement Planning

How to Make Death Claims on Life Insurance?

Savings cum Protection Plans Secures Your Family from Unforeseen Events

Staying Insured While Investing

Kotak Life Claim Settlement Ratio

Does Family History Affects your Term Life Insurance Rates?

What Should One Expect During the Medical Evaluation for Life Insurance?

What is Human Life Value (HLV) & How to Calculate it?

FAQs on Life Insurance

Everything You Need to Know About Endowment Policy

Digital Life Certificate for Pensioners Seeking Pension

In India, should NRIs purchase life insurance?

Do Your Financial Planning with Life Insurance!

Life Insurance and Millennials

Whole Life Insurance Definition: How It Works, With Examples

What is Surrender Value in Insurance, and How is it Calculated?

What is Human Life value and a Human Life Value Calculator?

How Many Insurances Should I Have?