Kotak Life

Buy a Life Insurance Plan in a few clicks


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

Demystifying the Retirement Planning Process

Demystifying the Retirement Planning Process
  • 10th Oct 2021 |
  • 614

The life of most people follows a basic chronology that comprises childhood, student life, working life, and finally, the retired life.

The retired life has some distinctive features that set it apart from other phases-

  • Once commenced, it never ends.
  • People get the maximum time to plan for this phase.
  • Despite knowing its importance, many people wait too long to begin the process of retirement planning.

The most common cause of delaying retirement planning is not knowing how to start and the factors to consider while drawing out the plan. However, the whole process can be simplified in few easy steps.

Step 1. Decide the Retirement Type

To begin with, make up your mind about the time of your retirement. Your retirement planning will largely depend upon whether you want a regular retirement or an early retirement.

While you will get enough time to plan and save for regular retirement, you may need to be more aggressive on your investment options if you want to retire early.

Step 2. Begin Early

Starting early gives you the leverage of time. Apart from gaining the benefits of compounding, you will be free to take more risks and afford to rectify some inadvertent investment mistakes.

Delaying your retirement planning will not only cost you losing out on these benefits but also put unnecessary strain on your personal finances when starting out late.

Step 3. Build Retirement Corpus: Freeze on a Number

When it comes to retirement planning, be definite about your goals. Think practically and arrive at an amount of money that you think will be enough to sustain your lifestyle post-retirement. Once done, you will have a target to achieve that can help you in taking decisive steps toward actively building a retirement corpus.

Step 4. Consider Inflation

Inflation is one of the biggest causes of wealth erosion and a silent destroyer of wealth. Try to have an idea about the impact of inflation on your wealth at the time of your retirement and how much would you need to brace for this impact.

Step 5. Post-Retirement Goals

Everyone has a different picture of life after retirement. For instance, your retirement planning will vastly differ depending on whether you want to open a business post-retirement or just happily read a novel.

Access your goals carefully to have an idea of how much savings will help you in attaining your goals.

Step 6. Arrange an Income Source

The dwindling bank interests can no longer guarantee a stable income for a retired person. Therefore, try to have a stable income source post-retirement.
You may consider a reputed pension plan to achieve this purpose. Check our pension plans to get an idea about the amount of pension you can get regularly after you retire.

Embark Upon Your Journey

An old Chinese proverb says, ” The journey of a thousand miles begins with a single step.” The same can hold true for retirement planning as well. The whole process might seem overwhelming at first sight, but it gets simpler once you begin. So, start your journey toward a happy and peaceful retirement with a firm planning process in action.

Kotak e-Term Plan


  • 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

Cost of Term Insurance Likely to Increase Soon

Why 1 Cr Term Plan Is Necessary For Family?

While Buying Term Insurance Compare Features, Not Just Premiums

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

6 Reasons That Make Term Insurance a Must Buy

How to Surrender Term Life Insurance When you have No Liabilities

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

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

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

Increasing Term Insurance and Riders

What Is a Renewable Term Insurance Policy?

Term Insurance With Riders In India

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

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

Is Term Life Insurance Plan an Investment or Expense?

Do You Need Term Insurance Cover After Retirement?

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

How To Choose the Right Term Insurance Plan?

Comparing Term Plans – What Should You Look Out For

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

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

Term Insurance Plans and Policies for Smokers

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

Can You Increase Your Term Insurance Cover?

What are incremental term insurance plans?

What is a short term insurance policy?

Why Premium Amount for Term Insurance is So Low?

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

Why does every working woman need life insurance?

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

Do Beneficiaries Pay Taxes on Term Insurance?

Why should single women purchase term life insurance?

Term Plans are Definitely Cheaper than You Think!

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

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

Why Should You Buy Term Insurance in 2022?

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

Different Types of Protection Plans

What is Critical Illness Policy

Can Term Insurance Plans Be Purchased As A Gift?

Advantages & Disadvantages of Term Insurance in India

How to Compare Term Insurance Online

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

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

Choosing Riders for Insurance Plans

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

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

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

What All Documents Required For Term Insurance In India?

What is Insurance Premium - A Detailed Guide

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

Top 3 Reasons Why You Should Buy A Term Plan Now

9 Most Frequently Asked Questions on Term Insurance

8 Factors to consider before choosing a Critical Illness Insurance

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

How Does Term Life Insurance Work? Learn the Benefits

Difference between Term Insurance and Life Insurance

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

Term Insurance with Critical Illness

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

How Not To Get Your Term Insurance Claim Rejected

Term Life Insurance Plan for Smokers vs Non-Smokers

Term Insurance: Smokers vs Non-Smokers

4 Reasons Why You Need Critical Illness Cover

Should You Buy a Term Plan After 40?

5 Term Insurance Benefits for Single Women

How Does A Term Life Insurance Work in India?

Ensure Protection Against Death, Disease & Disability With Life Insurance

What Happens if you Hide Facts in your Term Insurance?

10-Year Term Life Insurance Policy - Explained in Detail

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

Know How to Invest at Every Age for Larger Returns

Key Differences Between Term Insurance, ULIPs, And Health Insurance

All you need to Know about Term Insurance Plans for Housewives

Busting Myths and Facts About Term Insurance Policies

Term Insurance Age Limit – Term Plan for All Age Groups

Planning For Children's Future

Insuring Protection Against Death With Death Insurance Rider

Should You Have Multiple Term Life Insurance Policies?

Tips to Choose the Right Term Period for Term Insurance Plan

4 Things To Expect From Your Term Insurance Plan in India

All About Term Insurance Inbuilt Coverage

Why Should New Parents Buy Term Life Insurance?

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

Why Married People Should Buy Term Insurance Under MWP Act?

6 Types of Death not covered in Term Insurance Plan

5 Benefits of Early Retirement Planning

What is Term Insurance - A Complete Guide

Insuring Against Accidents with an Accidental Death Insurance Rider

How to Buy 1 Crore Life Insurance Policy Without Medical Test

Does Term Insurance Cover Accidental Death?

Buying A Term Insurance Plan? Take These Factors into Account

Different Types of Premium in Term Insurance

Can Senior Citizens Avail Term Insurance?

9 Ways to Help Family Members in Financial Trouble

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

Eligibility Criteria for Buying Term Insurance in India

Term Insurance Basics You Should Know

Importance of Term Insurance at Every Stage of Your Life

5 Things To Consider While Buying Term Insurance Plan

Make Your Online Term Plan Your Familys Monthly Payout

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

Insurance Policy for Housewife In India

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

Why Term Insurance Is Better Than ULIP?

Why Buy Term Insurance Plan With a High Cover?

8 Benefits of Term Insurance You Should Know

Steps on How to Buy Term Insurance Online

Planning For Son or Daughter's Wedding

What are the Documents Required for Term Insurance Plan?

What Is the Correct Age to Buy Term Insurance?

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

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

How Much Term Insurance Do I Need

4 Methods to Calculate How Much Term Insurance You Need

Term Insurance Calculator - Everythng You Need To Know

How To Change The Nominee in Term Insurance?

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

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

Understanding Term Insurance Riders

Why Buy Term Insurance Even at Rising Rates?

Advantages of Buying Term Insurance in Your 50s

Insuring yourself against Ill Health with a Critical Illness Rider

Term Plan with Spouse Cover

Why is it important to buy term insurance plan?

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

Is There Any Tax Benefit on Term Insurance?

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

Is Life Insurance Investment Worthy Enough

Protection for your family

Is term Insurance Needed for People With No Dependents?

Everything About Claim Settlement Ratio for Term Insurance

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

Endowment Plans vs Term Plans: Understanding the difference

Should Youngsters, Working Couples Buy Term Insurance Plans?

Which Death Type Does Your Term Plan Not Cover?

What Are the Best Term Insurance Plans for Planning Retirement?

Can I Get Term Insurance on Behalf of My Spouse?

How to Identify Term Insurance According to Your Needs?

8 Things To Do After Buying Term Insurance

Is a Term Insurance Policy Portable?

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

Calculating Term Insurance Premium

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

Is Group Term Life Insurance Provided By Employer Sufficient?

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

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

Insuring Against Disability With Disability Insurance Rider

टर्म इंश्योरेंस क्या है? टर्म इंश्योरेंस का मतलब

What Should You opt for - Limited or Premium Pay?

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

How Much Cover Should I Take In A Term Plan?

Can I Extend the Tenure of My Term Insurance Plan?

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

Individual Life Insurance vs. Group Term Life Insurance

Is ₹1 Crore Term Insurance Good Enough Cover?

Tax Benefits of Term Insurance in India