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.
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.
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!
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.
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Security, safety, and protection are some of the initial thoughts you have when you decide to buy term insurance. As you go further into this journey, you will be faced with many practical aspects related to application, claim, etc. While your insurer might tell you about them, it is always a good idea to do your share of research.
As you may know, a term cover is a pure protection policy that gives your loved ones a pre-decided sum assured in case of an untoward situation. To avail the lump sum payout, you need to make regular premium payments. This policy is also known as pure term insurance as it comes with a death benefit only.
There may be times when you ask, ‘can anyone apply for term insurance?’ or ‘is there some term insurance eligibility?’, ‘what does a good term insurance plan look like?’ and you are well within your rights to have all these questions answered, and that is what we are going to do today. Let us look at term plan eligibility in detail.
Just as you would have prepared a checklist to know that you have opted for a good term insurance plan, there are criteria that the insurer employs to calculate your term cover, premium amount, sum assured, etc. Some of these term plan eligibility criteria are as follows:
As essential as it is for you to buy a good term insurance plan, so it is for the insurers. The above mentioned are some of the term insurance eligibility criteria that you should consider while applying for a term insurance plan. Making the right and informed choice is essential when it comes to your protection and that of your loved ones!
- A Consumer Education Initiative series by Kotak Life
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