Different Types Of Life Insurance In India
Close
Close

Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

  • Icon for Kotak Preferred e-Term Plan

    Kotak e-Term Plan

    Kotak e-Term Plan provides a high level of protection to your loved ones in your absence.

  • Kotak E-Invest Plan

    Kotak e-Invest plan is a complete Unit-Linked Insurance Plan that can be customized as per your goals and needs.

  • Icon for Kotak Guaranteed Savings Plan

    Kotak Guaranteed Savings Plan

    Kotak Guaranteed Savings Plan is a savings and protection plan that helps you achieve long-term financial goals and provides an insurance cover against any eventuality.

  • Icon for Kotak Preferred e-Term Plan

    Kotak Lifetime Income Plan

    Kotak Lifetime Income Plan gives you the security of your income continuing thru your life and in your absence throughout your spouse's lifetime!

  • Icon for Kotak Preferred e-Term Plan

    Kotak Health Shield

    Kotak Health Shield Plan helps secure your finances in sudden medical expenses such as Cardiac, Liver, Neuro, and Cancer (all early and significant illness stages/conditions of cancer), along with offering protection for personal accidents - in case of accidental death or disability.

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.

Back

Different Types Of Life Insurance In India

Term Insurance Quote
  • 1st Oct 2021
  • 5,734

Different Types Of Life Insurance In India

While nothing beats sharing your most cherished memories with your loved ones, these times are fleeting. Providing stability and security to your family even after you are gone is the purest and most selfless kind of love.

When it comes to securing your family and providing them with a safety anchor, life insurance is undoubtedly the most certain means.

Life Insurance:

The term “life insurance” refers to a contract between you and your insurer, where the insurer guarantees to deliver a sum of money to your beneficiaries in case of your demise. This benefit is provided in exchange for the insurance premium payments you make during the policy term. Such policies also have the provision of accidental death cover in term insurance. Your nominee is entitled to compensation through term benefits in the event of accidental death. However, there are no reimbursements for death caused by substances, if you are involved in criminal conduct or adventure sports.

Basic term insurance may appear to be the ideal option. However, you may compare online term insurance from the variety of policies mentioned below and select the best fit for your needs with regards to income, age, and future financial plans.

Long Term Insurance

A long term insurance policy is a form of personal coverage available to anyone who can bear the cost without the hassle of frequent renewal. Although the premium costs are higher than short-term coverage, the benefits far outweigh this limitation. It covers hospitalisation, private home care, and personal or adult daycare for anyone over 65 years of age with a chronic or disabling disease requiring constant supervision.

Plain Term Insurance

Also known as vanilla term insurance, it is the simplest and the most basic form of a monetary investment. There are no extras or frills, and they may be utilised in a variety of areas, including options and bonds. As a result, it’s linked to a low-risk consequence.

Pure Term Insurance

A pure term insurance policy protects your family financially in the case of your death. This insurance might last anywhere from a decade to five decades. It provides more coverage for lower premiums, but no maturity rewards if you survive longer than the policy term.

Choosing The Best Term Life Insurance

While buying term plans through agents may seem like the best option, with the advent of the digital revolution, you can now find the best term life insurance online. You may find the best choice by conducting extensive research and applying through a term life insurance online application, which ensures greater clarity, and reliability for consumers. Under one roof, potential customers may search for and evaluate different insurance alternatives.

Being unprepared and foregoing a life insurance plan throws your loved ones’ future in danger, leaving them with no financial cushion in the event of an unfortunate incident. This is not really a risk to take, and there is no better approach to fiscally protect one’s family than with a term insurance policy.

- A Consumer Education Initiative series by Kotak Life

Also read

  • Why Buying a Term Insurance is Important for all Parents

    If you are a parent to a little child then you will surely understand that it is quite terrifying to see him or her grow up in a world that is not as ...

    Read more
    • 20th Oct 2021
    • 729

    Voluntary Life Insurance Policy Vs Group Life Insurance

    Click here for complete difference between Voluntary Life Insurance and Group Term Life Insurance, Side by Side Comparison helps in making an informed...

    Read more
  • 5 Reasons Why a Women Should Buy a Life Insurance

    Life Insurance For Women - 5 Reasons Why a Women Should Buy a Life Insurance here on this article. Visit Kotak Life to know more on Life Insurance

    Read more

Related Plans

  • Kotak e-Term Plan

    Kotak e-Term Plan

    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