Comparing Term Plans – What Should You Look Out For

Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

Kotak e-Term Plan

Protect Your family’s financial future with Kotak e-Term Plan. 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 insurance in one premium. Know more

Kotak e-Invest

Insurance and investment in one plan with Kotak e-Invest. Know more

Kotak Health Shield

Insurance against medical expenses related to heart, brain, liver and Cancer. Know more

Comparing Term Plans – What Should You Look Out For

Comparing Term Plans – What Should You Look Out For
  • 2nd Dec 2021 |
  • 769

You’ve put in time and money to get a term insurance policy that you feel is the best fit for all of your needs. It gives you peace of mind knowing your family’s future will be secure when you are not around. However, what if you subsequently learn that there is a better term policy in the market that provides greater guaranteed returns in exchange for all the premiums you pay? This is where a detailed comparison of term insurance plans comes in! ​

Everything has been a click away since the dawn of the digital revolution, so why should online term insurance comparison be made any differently? It’s easy to find the right term insurance for your needs with a host of tools available. These tools help compare term policy online so that you can see the maximum number of alternatives available. However, before actually purchasing a term policy, there are a few factors to consider. You can do this either offline or opt for an online term insurance comparison.

The Cover Amount

A critical step is determining the amount of term insurance cover for which numerous online calculators and tools are available to assist you. To calculate the amount, these calculators consider the policy buyer’s age, living choices, family size, existing loans, monthly costs, and the rate of inflation. A financial consultant might also be of assistance in this regard. Once you’ve determined the amount of coverage you’ll need, you can begin looking for insurance companies accordingly.

Riders Offered

Riders are an important element of your term insurance policy. Before purchasing term insurance, check whether your insurance company offers rider benefits as they help provide additional financial security to your family. Some of the commonly added riders include:

-Accidental Death Benefit
-Accidental Death And Disability Benefit
-Critical Illness Rider
-Terminal Illness Rider

Comparison Of Term Life Insurance Premiums

Your term policy prices are calculated by your age, health, and occupation at the time of purchase. Furthermore, if you add specific riders to the policy, the premium rate may be modified. As a result, it’s critical to make a comparison of term life insurance premiums cost thoroughly to ensure that they don’t impact your budget or financial blueprint.

Online Or Offline Insurance Purchase

You may either take the traditional route and buy a term policy via an insurance broker or agency, or you can compare term policy online using the tools and buy them directly from the website. However, websites or direct platforms generally charge a smaller premium.

Insurance Provider

Your quest does not end only with a term insurance comparison because it is equally critical to select an insurance company that you can trust and that offers the finest policies per your demands. Research things like the insurance company’s history, client feedback, claim settlement ratio, and financial stability. Furthermore, in terms of revenue, servicing, and payment choices, the company’s client centricity should be given more weight.

Term Insurance Duration

Another essential decision to make is the policy tenure, and this can be decided easily by online term insurance comparison. When purchasing a policy at a young age, it is best to pick your insurance company’s longest policy duration possible. This assures a reduced premium for the life of the insurance.

Term insurance plans necessitate a significant financial and emotional investment on your part. As a result, it’s imperative to make a comprehensive term insurance comparison to get the money’s worth and make the best decision possible after considering the above-mentioned aspects.

Kotak e-Term Plan

Download Brochure


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

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


Browse our library of resources

- A Consumer Education Initiative series by Kotak Life

Similar Articles

Can Term Insurance Plans Be Purchased As A Gift?

How Does Term Life Insurance Work? Learn the Benefits

Ensure Protection Against Death, Disease & Disability With Life Insurance

8 Things To Do After Buying Term Insurance

Importance of Term Insurance at Every Stage of Your Life

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

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

Why is it important to buy term insurance plan?

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

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

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

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

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

Term Insurance vs Life Insurance: Understand the Difference and Benefits

Planning For Children's Future

Is term Insurance Needed for People With No Dependents?

Should You Have Multiple Term Life Insurance Policies?

Term Insurance Basics You Should Know

Why Buy Term Insurance Plan With a High Cover?

Should you have more than one nominee in your term insurance?

Why Term Insurance Is Better Than ULIP?

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

टर्म इंश्योरेंस क्या है? टर्म इंश्योरेंस का मतलब

What is Term Insurance? Term Plan Meaning and Definition

Advantages & Disadvantages of Term Insurance in India

Difference Between Term Insurance and Endowment Plan

What are the Documents Required for Term Insurance Plan?

10 Ways to Mentally Refresh After a Stressful Day

10-Year Term Life Insurance Policy - Explained in Detail

Do You Need Term Insurance Cover After Retirement?

Why Spending Time with Friends is Essential for Your Mental Health?

Side Effects of Covid-19 Booster Doses

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

Insuring yourself against Ill Health with a Critical Illness Rider

Can I Get Term Insurance on Behalf of My Spouse?

Insurance Policy for Housewife In India

Key Differences Between Term Insurance, ULIPs, And Health Insurance

How to Identify Term Insurance According to Your Needs?

Is Term Life Insurance Plan an Investment or Expense?

8 Types of Death not covered in Term Insurance Plan

Everything About Claim Settlement Ratio for Term Insurance

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

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

What is Insurance Premium - A Detailed Guide

Which Death Type Does Your Term Plan Not Cover?

Planning For Son or Daughter's Wedding

5 Term Insurance Benefits for Single Women

Term Insurance Plans and Policies for Smokers

5 Benefits of Early Retirement Planning

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

Why Buy Term Insurance Even at Rising Rates?

Term Plan with Spouse Cover

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

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

Is a Term Insurance Policy Portable?

What are incremental term insurance plans?

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

Tips to Choose the Right Term Period for Term Insurance Plan

What is a short term insurance policy?

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

Why Premium Amount for Term Insurance is So Low?

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

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

Protection for your family

5 Things To Consider While Buying Term Insurance Plan

Individual Life Insurance vs. Group Term Life Insurance

8 Factors to consider before choosing a Critical Illness Insurance

Is There Any Tax Benefit on Term Insurance?

Is Group Term Life Insurance Provided By Employer Sufficient?

All you need to Know about Term Insurance Plans for housewives

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

Eligibility Criteria for Buying Term Insurance in India

Term Insurance Age Limit – Term Plan for All Age Groups

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

How do I Calculate My Term Insurance Premium

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

Is ₹1 Crore Term Insurance Good Enough Cover?

Should You Buy a Term Plan After 40?

Difference between Section 80C and 80CCC of the Income Tax Act, 1961

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

Calculating Term Insurance Premium

What Happens if you Hide Facts in your Term Insurance?

Should you buy a Renewable Term Life Policy?

Zero Cost Term Insurance Plan: What is & Should you buy it?

Endowment Plans vs Term Plans: Understanding the difference

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

Can You Increase Your Term Insurance Cover?

3 Things to Consider When Buying Term Insurance, If You are Single

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

Insuring Against Disability With Disability Insurance Rider

How To Change The Nominee in Term Insurance?

जीवन बीमा पॉलिसी लेने की प्रक्रिया क्या है?

All About Term Insurance Inbuilt Coverage

Choosing Riders for Insurance Plans

What Should You opt for - Limited or Premium Pay?

Different Types of Premiums in Term Insurance?

6 Reasons That Make Term Insurance a Must Buy

6 Types of Death not covered in Term Insurance Plan

4 Methods to Calculate How Much Term Insurance You Need

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

What Is a Renewable Term Insurance Policy?

Tax Benefits of Term Insurance in India

Cost of Term Insurance Likely to Increase Soon

How Does A Term Life Insurance Work in India?

भारत में गृहणियों के लिए टर्म इंश्योरेंस

Why You Must Include In Your Financial Planning?

Busting Myths and Facts About Term Insurance Policies

Steps on How to Buy Term Insurance Online

Why does every working women need life insurance?

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

Why 1 Cr Term Plan Is Necessary For Family?

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

While Buying Term Insurance Compare Features, Not Just Premiums

4 Things To Expect From Your Term Insurance Plan in India

Do Beneficiaries Pay Taxes on Term Insurance?

Term Life Insurance Plan for Smokers vs Non-Smokers

Form 16, Form 16A, and Form 16B?

8 Benefits of Term Insurance You Should Know

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

Increasing Term Insurance and Riders

How Much Cover Should I Take In A Term Plan?

Term Insurance With Riders In India

4 Reasons Why You Need Critical Illness Cover

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

Why Married People Should Buy Term Insurance Under MWP Act?

कोविड -19 बूस्टर खुराक के दुष्प्रभाव

Term Plans are Definitely Cheaper than You Think!

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

10 Ways to Get Your Kids Involved in Your Healthy Lifestyle

Should Youngsters, Working Couples Buy Term Insurance Plans?

What is Critical Illness Policy?

How to Buy 1 Crore Life Insurance Policy Without Medical Test

Can Senior Citizens Avail Term Insurance?

What Is the Correct Age to Buy Term Insurance?

Insuring Against Accidents with an Accidental Death Insurance Rider

Top 3 Reasons Why You Should Buy A Term Plan Now

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

How Not To Get Your Term Insurance Claim Rejected

Term Insurance with Critical Illness

Term Insurance: Smokers vs Non-Smokers

Can I Extend the Tenure of My Term Insurance Plan?

What are the Tax Benefits of Sukanya Samriddhi Yojana (SSY)?

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

How To Choose the Right Term Insurance Plan?

भारत में जीवन बीमा कितने प्रकार के होते हैं?

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

Why Should You Buy Term Insurance in 2022?

9 Point Guide on how to File Income Tax Return Online

9 Tax Changes in Budget 2019 that may Impact Your Personal Financial Planning

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

Know How to Invest at Every Age for Larger Returns

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

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

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

Does Term Insurance Cover Accidental Death?

Understanding Term Insurance Riders

Make Your Online Term Plan Your Familys Monthly Payout

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

Buying A Term Insurance Plan? Take These Factors into Account

Different Types of Protection Plans

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

What Are the Best Term Insurance Plans for Planning Retirement?

Insuring Protection Against Death With Death Insurance Rider

9 Ways to Help Family Members in Financial Trouble

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

Term Insurance Calculator - Everythng You Need To Know

How to Surrender Term Life Insurance When You Have No Liabilities?

What All Documents Required For Term Insurance In India?

9 Most Frequently Asked Questions on Term Insurance

Advantages of Buying Term Insurance in Your 50s

What is a term insurance plan with a return of premium, and how does it work?

Is Life Insurance Investment Worthy Enough

All about Online Income Tax Calculator

How to Compare Term Insurance Online

Why should single women purchase term life insurance?

How Much Term Life Insurance Cover Do I Need?

How Much Term Insurance Do I Need

Why Should New Parents Buy Term Life Insurance?