Kotak Life
Close

Buy a Life Insurance Plan in a few clicks

Close

Now you can buy life insurance plan online.

Kotak e-Term Plan

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

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. Know more

Kotak E-Invest

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

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. Know more

Kotak Lifetime Income Plan

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

7 Secrets that can Make Your Post-Retirement Phase Prosperous

7 Secrets that can Make Your Post-Retirement Phase Prosperous
  • 30th Nov 2021 |
  • 379

Summary:

Worried about your old age? Well, this article can be a contribution to changing your life for the good. Keep reading to know about the 7 secrets that can make your life long and prosperous.

Content:

Life is full of uncertainties and memorable journeys. But seldom have we heard positively of the old age. Why is there a phobia for the post-retirement phase? Proper planning can help you sail through the ups and downs of life effortlessly.

Here are the secrets that can make your retirement joyful.

1) Plan your Retirement Funds

In order to lead a happy and prosperous life post-retirement, you must plan your retirement corpus from an early age. Naturally, you can build a corpus by saving your earnings. But it is not enough to rely only on the saved money. This also helps you to build passive income.

To your aid, there are various investment options that you can tap into. Here’s a list of popular investments:

a) PPF Investments (Tax benefit up to Rs. 1.50 lakhs per year).

b) Mutual Funds/SIPs – Distribute between equity and debt based on risk profile.

c) Life Insurance – along with investment plan (Tax benefit up to Rs. 1.50 lakhs per year).

d) Pension Plans (Tax benefit up to Rs. 1.50 lakhs per year).

e) NPS (National Pension Scheme - Tax benefit up to Rs. 1.50 lakhs per year).

2) Aim for a Debt-Free Retirement

Prioritize your assets and liabilities with age. Close to the retirement age, people already have so many liabilities, including- Higher education of their children

a)Marriage Funds

b)Medical Bills, etc.

c)Hence, it is important to stay debt-free during this phase of your life. It’s even better if you can survive without a credit card. Repayment of debts requires a steady flow of income. It is thus very important to match both sides of the equation.

3) Health is Wealth

A general misconception prevails in society that older adults are always medically unfit. However, the second wave of the recent pandemic has proven that the young generation is as prone to illnesses as the elderly. A recent example is the painful demise of Siddharth Shukla.

Hence, it is important to do regular exercise, eat healthy food and get a regular health check-up. Yoga is the biggest healthcare science that originated in India. Practising this ancient art regularly, can enchant your health. Also, you can opt for a Mediclaim Policy. It can help you get full body check-ups for free and reduce the burden on your pockets when you fall sick.

4) Contribute to the Society

As you grow older, you gain expertise in multiple fields. Instead of becoming a couch potato post-retirement as many people do, you can share your experience with the young generations, carry out social work and even do some charity. Sharing the treasure of your life journey can benefit society in innumerable ways.

5) Intellectual Curiosity

Alzheimer’s is more than just an old age disease. It’s the kind of disease that the family and caretakers suffer in unison with the patient. Statistics confirm that there are over 44 million people suffering from this disease at present. Keeping your intellectual curiosity alive can help you keep this disease at bay.

6) Play Outdoor Sports

As the saying in India goes, “stagnant water perishes.” Remaining active can boost your metabolism, give you a healthy and long life, and reduce your medical expenditure. Playing outdoor sports can cover this for you and can also help you build your social network.

7) Work on a Part-Time Basis

Retirement from full-time work doesn’t mean staying idle. You can take up part-time activities to keep yourself involved. You can also volunteer for government initiatives as well as follow your long-lost passions in your leisure time.

Retiring from your job doesn’t mean that you stop living. People that leave hope and keep saying that their life is over, never cherish their old age. Planning for this phase properly and living life to the fullest can make it a memorable and worth-living-for experience.

Kotak e-Term Plan

Features

  • Nominal Cost
  • Multiple Plan Options
  • Flexible Payout Options
  • Critical Illness Rider
  • Tax Savings
  • Long term Coverage

Ref. No. KLI/22-23/E-BB/492

T&C

Browse our library of resources

- A Consumer Education Initiative series by Kotak Life

Similar Articles

5 Reasons to Buy Term Insurance When You are in Your 30s

Online vs Offline Term Insurance: Which Is The Better Option To Buy

What is Term Insurance - A Complete Guide

Should You Buy a Term Plan After 40?

Why Should You Not Take A Term Plan Without Medical Test in India?

Key IRDAI Regulations That Changed Face Of Term Insurance Industry In 2020

4 Methods to Calculate How Much Term Insurance You Need

Are The Add-ons and Optional Features of Term Insurance Plans Actually Beneficial?

Why Term Insurance Is Important in times of COVID-19?

Protection for your family

What Is the Correct Age to Buy Term Insurance?

How To Choose the Right Term Insurance Plan?

Gift Your Father A Term Insurance Plan This Father's Day

Tax Benefits of Term Insurance in India

5 Term Insurance Benefits for Single Women

How To Choose the Right Sum Assured Under a Term Plan?

Term Insurance Calculator - Everythng You Need To Know

Ensure Protection Against Death, Disease & Disability With Life Insurance

5 Benefits of Early Retirement Planning

Term Insurance With Riders In India

5 Things To Consider While Buying Term Insurance Plan

How to Compare Term Insurance Online

What are incremental term insurance plans?

How To Change The Nominee in Term Insurance?

Term Insurance Age Limit – Term Plan for All Age Groups

Buying A Term Insurance Plan? Take These Factors into Account

Difference between Term Insurance and Life Insurance

How Much Term Insurance Do I Need

Insuring Against Accidents with an Accidental Death Insurance Rider

Understanding Term Insurance Riders

Importance of Term Insurance at Every Stage of Your Life

Why Term Insurance Is Better Than ULIP?

Term Life Insurance Plan for Smokers vs Non-Smokers

Can I Buy Term Insurance for a COVID-19 Patient?

What is Form 16, Form 16 part A, Form 16 part B, Information Required and FAQs

Advantages & Disadvantages of Term Insurance in India

What Happens to Term Insurance Plan With No Beneficiary - Kotak Life

Planning For Children's Future

All About Term Insurance Inbuilt Coverage

Why Should You Add a Rider to a Term Insurance Plan?

Why Married People Should Buy Term Insurance Under MWP Act?

Why Buy Term Insurance Even at Rising Rates?

What is the Right Term Period For Term Insurance Policy? Here's How You Should Choose!

Term Plans are Definitely Cheaper than You Think!

Busting Myths and Facts About Term Insurance Policies

Why 1 Cr Term Plan Is Necessary For Family?

Why is it important to buy term insurance plan?

Term Insurance: Smokers vs Non-Smokers

Term Insurance – Why You Must Include In Your Financial Planning?

Individual Life Insurance vs. Group Term Life Insurance

Does Term Insurance Cover Accidental Death?

Do Beneficiaries Pay Taxes on Term Insurance?

Which Term Insurance to Choose: Lump Sum or Staggered Pay-out Plan?

Why does every working woman need life insurance?

What All Documents Required For Term Insurance In India?

What Should You opt for - Limited or Premium Pay?

What Should Be The Duration Of Your Term Plan in India?

Term Insurance Basics You Should Know

Eligibility Criteria for Buying Term Insurance in India

Choosing Riders for Insurance Plans

Insuring Protection Against Death With Death Insurance Rider

Is it a Good Time to Buy Term Insurance During the COVID-19 Pandemic?

How To Calculate The Amount Of Term Life Insurance You Need?

What Are the Best Term Insurance Plans for Planning Retirement?

Why Surrendering Your Term Plan Policy In The Final Phase Maybe A Bad Idea?

What is a Joint Term Insurance Plan? Key Benefits of Joint Term Plan

Know How to Invest at Every Age for Larger Returns

Advantages of Buying Term Insurance in Your 50s

While Buying Term Insurance Compare Features, Not Just Premiums

4 Things To Expect From Your Term Insurance Plan in India

Term Insurance: What Happens When You Don’t Pay Your Premiums?

Why Should New Parents Buy Term Life Insurance?

6 Reasons That Make Term Insurance a Must Buy

Do I Need to Give a Medical Test for Term Insurance in India?

Is ₹1 Crore Term Insurance Good Enough Cover?

Increasing Term Insurance and Riders

Is a Term Insurance Policy Portable?

What Is a Renewable Term Insurance Policy?

Can I Make Changes to My Term Insurance Policy Post Purchase?

Top 3 Reasons Why You Should Buy A Term Plan Now

What Are Insurance Riders and How to Choose Them in a Term Plan?

What are the Documents Required for Term Insurance Plan?

Term Plan with Spouse Cover

What is Insurance Premium - A Detailed Guide

What Is a Passive Income? Why Should You Use It to Buy a Term Plan?

Different Types of Protection Plans

Can I Extend the Tenure of My Term Insurance Plan?

Is There Any Tax Benefit on Term Insurance?

9 Ways to Help Family Members in Financial Trouble

Key Differences Between Term Insurance, ULIPs, And Health Insurance

8 Factors to consider before choosing a Critical Illness Insurance

What Types of Deaths Are Covered in a Term Insurance Plan?

How to Buy 1 Crore Life Insurance Policy Without Medical Test

Is Group Term Life Insurance Provided By Employer Sufficient?

How Much Cover Should I Take In A Term Plan?

Is term Insurance Needed for People With No Dependents?

Does Your Term Insurance Plan Cover Death Due to COVID-19?

Best Investment Plans for Children - Secure Your Child's Future

Cost of Term Insurance Likely to Increase Soon

टर्म इंश्योरेंस क्या है? टर्म इंश्योरेंस का मतलब

Can Non-Resident Indians (NRIs) Buy Term Insurance In India?

How to Identify Term Insurance According to Your Needs?

8 Benefits of Term Insurance You Should Know

How Much Term Life Insurance Cover Do I Need in India?

Term Insurance with Critical Illness

8 Things To Do After Buying Term Insurance

What is a short term insurance policy?

How to Ensure That Your Term Insurance Claims Are Never Rejected?

Is Life Insurance Investment Worthy Enough

What Happens if you Hide Facts in your Term Insurance?

Why Premium Amount for Term Insurance is So Low?

10-Year Term Life Insurance Policy - Explained in Detail

Can I Get Term Insurance on Behalf of My Spouse?

Is Term Life Insurance Plan an Investment or Expense?

9 Most Frequently Asked Questions on Term Insurance

4 Reasons Why You Need Critical Illness Cover

Why should single women purchase term life insurance?

Term Vs. Whole Life Insurance: Which One You Should Buy in India?

Different Types of Premium in Term Insurance

Why Should You Buy Term Insurance in 2022?

Make Your Online Term Plan Your Family's Monthly Pay Cheque

Tips to Choose the Right Term Period for Term Insurance Plan

Can Term Insurance Plans Be Purchased As A Gift?

Why Term Plan Should Be The First Step To Securing Your Future?

Is It Good To Buy A Term Insurance Plan In 2022?

Insurance Policy for Housewife In India

How to Surrender Term Life Insurance When you have No Liabilities

Should You Have Multiple Term Life Insurance Policies?

Can Senior Citizens Avail Term Insurance?

What is Critical Illness Policy

How Does Term Life Insurance Work? Learn the Benefits

Insuring yourself against Ill Health with a Critical Illness Rider

Term Insurance: Most Common Term Insurance Myths Explained | Kotak Life

Planning For Son or Daughter's Wedding

Term Insurance Plans and Policies for Smokers

Make Your Online Term Plan Your Familys Monthly Payout

Buying A Term Insurance? Don't Ignore the Claims Settlement Ratio

Can You Increase Your Term Insurance Cover?

Why Buy Term Insurance Plan With a High Cover?

How Does A Term Life Insurance Work in India?

Can A Housewife Buy a Term Insurance Plan - All You Need to Know

Reasons You Need Term Insurance Plan as a Self-Employed Person

Calculating Term Insurance Premium

Steps on How to Buy Term Insurance Online

Do You Need Term Insurance Cover After Retirement?

Insuring Against Disability With Disability Insurance Rider

Which Death Type Does Your Term Plan Not Cover?

6 Types of Death not covered in Term Insurance Plan

Everything About Claim Settlement Ratio for Term Insurance

Should Youngsters, Working Couples Buy Term Insurance Plans?

Endowment Plans vs Term Plans: Understanding the difference

Ideal Features of a Suitable Term Plan - Act Now for a Stress-free Future

How Not To Get Your Term Insurance Claim Rejected

Why Buying a Term Plan Is Smarter Than Traditional Life Insurance Products

All you need to Know about Term Insurance Plans for Housewives

Comparing Term Plans – What Should You Look Out For

When is the Right Time to Buy Term Life Insurance Policy for Yourself?