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.

Different Types of Protection Plans

Read this article to know about the types of protection plans that are highly suggested by financial experts to achieve a balance between the emotional and financial aspects of life.

  • Sep 24, 2021
  • 2,206 Views

Protection plans in India have certainly evolved into an important and viable part of life planning, providing comprehensive security to all that matters and ensuring the future of your loved ones. While the unfavourable events in life cause emotional havoc that cannot be overlooked, these policies are meant to protect you from financial hardships, ensuring monetary risks are kept at bay.

Despite the fact that the fast-paced modern lifestyle gives us a plethora of options across all aspects of life, creating a protection plan portfolio might prove to be a highly daunting task due to the ocean of alternatives that are just a click away. Your personal needs will always emerge as a guiding force to help decide the best protection plan with regards to the type and number of plans you would need.

Nevertheless, we will now look at the most popular forms of protection plans that are also highly suggested by financial experts to achieve a balance between the emotional and financial aspects of life.

Life Insurance and Family Protection Plan: Path To A Stress-Free Life

Life insurance is a cover that allows the insured to provide financial security to their family after their demise. Different policies like term plan, child plan, investment plan, ULIPs, retirement plan, endowment plans, etc. fall under this umbrella. Assume you are the family’s primary breadwinner, providing for your spouse and children. An unfortunate event with you can be detrimental to their financial stability. Life insurance prevents this from happening by giving monetary assistance to your loved ones even in your absence. Term plans are one of the best protection plans in India as you can also avail tax benefits under these schemes. Additionally, you also have an option to add riders like critical illness riders, or accidental insurance riders to strengthen your base policy.

To know more about Term Insurance, read this article.

Health Insurance: Stay Hale & Hearty

Health insurance policy has become essential in India due to growing medical costs. It covers the medical expenses which is inclusive of doctors’ consultation fees, medicinal drugs, surgeries, etc. A variety of illnesses are covered by different kinds of health insurance coverages in the form of rider benefits. Additionally, you can purchase both general and disease-specific medical insurance coverage.

Property Insurance: Where Happiness Thrives

Home is where the heart is! This lovely statement also lays emphasis on the significance of where you experience cherished moments, and what better place to enjoy them than at home. For businesses, their commercial property holds similar significance. In the case of an accident, such as a fire or any kind of natural disaster, property insurance can help cover the cost of rebuilding or repairing your residential or commercial property.

Motor Insurance: Companion For Worry-Free Rides

Motor insurance is a policy that offers financial assistance in the event of accidents involving your vehicle. You can avail motor insurance for three categories of motorized vehicles, namely, car insurance, two-wheeler insurance, and commercial vehicle insurance. Additionally, motor insurance policies can be a third-party liability, comprehensive cover, and own damage cover based on the extent of cover or protection offered.

Travel Insurance: To Enjoy Safe and Happy Travels

Travel policies ensure the financial safety of a traveler during a trip. Therefore, when compared to other insurance policies, travel insurance is a short-term cover. It offers financial aid during baggage loss, flight delays, reclaim lost travel documents, trip cancellation, etc.

To summarise, purchasing these protection plans based on your individual needs is not only another step in ensuring that everything you hold dear is secured, but it is also the most practical way to get through the tough patches with ease and peace of mind.

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

Life Insurance vs. Death Insurance: Exploring the Key Distinction

Life Insurance vs Mutual Funds

All About Life Insurance and How It Works?

What is Group Insurance?

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

Beware of Phishing & Fraud Insurance Calls

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

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

Who Is A Nominee In A Life Insurance Plan?

Here's How to Choose The Tight Life Insurance

What Is Investment Insurance?

बीमा क्षेत्र में IRDAI की भूमिका

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

Key Things to Review in Your Life Insurance Policy Document

How to Choose the Right Term Plan as per Your Age

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

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

Insurance and Endowment: Everything You Need to Know!

Nominee in insurance - A Complete Guide on nomination in insurance

Ensure Protection Against Death, Disease & Disability With Life Insurance

6 Ways You Can Ensure Fast & Smooth Claim Settlement

Life Insurance for Overweight Applicants

Top 5 Common Life Insurance Myths and Facts

Life Insurance and Retirement Planning

Why Do Life Insurance Agents Avoid Selling Term Plans?

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

What are the Benefits of Endowment Policy?

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

5 Common Life Insurance FAQs and Answers

Benefits of Gifting Term Insurance to Your Spouse

Why Your Family Should Know About Your Life Insurance Policy?

Does Family History Affects your Term Life Insurance Rates?

How to Customize Your Life Insurance Policy with Riders

भारत में गृहणियों के लिए टर्म इंश्योरेंस

Life Insurance Beneficiary

Important Terminologies of Life Insurance

In India, should NRIs purchase life insurance?

How to Choose a Life Insurance Policy

Do College Students Need to Buy a Life Insurance?

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

How do life insurance payouts work?

Best Insurance Plans in India

Choosing a Life Insurance Beneficiary

Life Insurance Vs. Mutual Funds Investment

How to Choose Life Insurance for All Ages?

How Do Term Insurance Plans Differ for Smokers?

All about IRDAI

What is Underinsurance & The Dangers of Being Underinsured

Tax benefit: Is your single premium life insurance policy eligible for tax benefits?

Difference Between Money Back and Endowment Policy

Life Insurance with Money Back vs Without Money Back

How Much Life Insurance Should You Have?

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

Why Life Insurance is Always a Smart Decision?

Terminal Illness Benefit in Term Insurance

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

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

Is Life Insurance For Millennials Really Needed?

Should You Buy Life Insurance After Getting Married?

What is Insurance Coverage? Overview, Types, and Examples

Know the many types of life insurance policies in India

Life Insurance Nominees: 5 Must-Know Facts for Beneficiaries

Benefits of Term Insurance for Senior Citizens in India

6 Things You Didn't Know Life Insurance Could Do

Process of Filing A Claim For Life Insurance

Role of Life Insurance in Your Financial Portfolio

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

Always keep your Nominee informed

Why Term Insurance for Women is Important?

Different Types Of Life Insurance In India

Life Insurance for Overweight Applicants

Whole Life Insurance Definition: How It Works, With Examples

Everything You Need to Know About Endowment Policy

Digital Life Certificate for Pensioners Seeking Pension

What are robo-advisors in insurance?

7 Superficial Reasons People Avoid Buying Insurance Online

जीवन बीमा क्या है?

Loan Against Life Insurance Policy

How Much Term Life Insurance Cover Do I Need?

Life Insurance for Millennials

Voluntary Life Insurance vs. Basic Life Insurance

Is It Advisable To Have Multiple Life Insurance Policies?

How to Buy Life Insurance Policy Online?

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

What is Minimum Life Insurance Policy?

All about Life Insurance Calculators

Is It Time to Review Life Insurance Policy of Yours?

What is the process of reactivating lapsed life insurance policy?

Sabse Pehle Life Insurance

Does Life Insurance Pay for Suicidal Death?

5 Reasons Why a Women Should Buy a Life Insurance

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

Insurance vs Investment - Know the Difference

Does Life Insurance Policy Cover Covid Death?

Most Common Life Insurance Riders to Enhance Your Existing Policy

Life Insurance and Millennials

What Happens If You Stop Paying Premiums of Life Insurance?

FAQs on Life Insurance

5 Things to Keep in Mind While Buying Life Insurance Policy

Savings cum Protection Plans Secures Your Family from Unforeseen Events

All about Your Rights and Duties While Buying Life Insurance Policy

Biggest Life Insurance Myths

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

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

Why do I Need Life Insurance?

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

What is Life Insurance?

Term Insurance Vs Life insurance: Small Details, Big Differences

Is Life Insurance Worth It?

Why You Should Never Cancel Life Insurance Policy

What Is Insurance Rider and It’s Benefits?

Kotak Life Claim Settlement Ratio

Invest in Insurance to Secure Your Future

Role of IRDAI in the Insurance Sector

NRI Premium Payment Options

How Does Life Insurance Work?

Do Life Insurance Premiums Increase Every Year?

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

Do Your Financial Planning with Life Insurance!

Types of Riders in Insurance Policy

What Is Surrender Value (Cash Surrender Value) in Insurance and how is it calculated?

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

How to Make Death Claims on Life Insurance?

Difference Between Insurance and Assurance?

What is Insurance Premium? | Definition of Insurance Premium

How Many Insurances Should I Have?

Life Insurance Plans for Women

Choosing Riders for Insurance Plans

Term Life Insurance vs Accidental Death Insurance

Think About Life Insurance Sooner than Later

Why Porting Health & Life Insurance after Marriage is Important?

Benefits of Term Insurance with Critical Illness Rider

Different Types of Insurance Policies in India

Guidelines for Linking Aadhar and PAN to Insurance Policies

Importance of Checking Claim Settlement Ratio before Buying Life Insurance

Customer Awareness on Information Security

Term Plan with Return of Premium (TROP)

Advantages of Digitizing the Insurance Claims Process

What happens to joint life insurance after divorce?

Important Life Insurance Terms You Must Know

क्या जीवन बीमा एक निवेश है?

जीवन बीमा पर ऋण

Know the many types of life insurance policies in India

भारत में जीवन बीमा पॉलिसियों के प्रकार

भारत में सर्वश्रेष्ठ टर्म प्लान कैसे चुनें?

Details Required To Be Filled In A Life Insurance Form

Backdating in Life Insurance: Should You Avoid it?

What is the Difference Between Insurance and Reinsurance?

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

How Much Life Insurance Do You Need?

Why is Medical Test Important While Buying a Term Insurance?

Choosing Between Short-Term & Long-Term Insurance Plans

Adding a Child to Your Life Insurance Policy?

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

6 Different Types of Insurance Policies

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

Compare Different Life Insurance Products Offered By Kotak Life

What is KYC - Meaning, Types, and Importance

How often should I review my policy?

Staying Insured While Investing

5 Easy Steps to Buying A Policy

Health Insurance VS Life Insurance

Health Insurance VS Life Insurance

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