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Ref. No. KLI/22-23/E-BB/492
A term insurance plan is perfect for anyone who wants to buy a life cover for an affordable premium.
A term insurance plan is perfect for anyone who wants to buy a life cover for an affordable premium. Term insurance only pays any cover if the policyholder does not survive the term maturity date. This insurance plan is designed particularly to protect a family financially in case of the bread earner’s sudden death. There is a misconception that the term plan is perfect only for young people as they can get a longer term. However, the term insurance for seniors is becoming very popular these days. A 50 or 60-year-old person can buy a term plan for a duration of 25 to 30 years. Many insurance providers are offering term plans that are particularly designed for senior citizens.
There are many reasons why a senior citizen needs a term plan. If you are a senior citizen, here are the most important reasons to avail of a term plan
Term insurance comes with different features. Here are the ones you need to know about:
Buying term insurance for seniors has become quite easy these days because you can complete the entire process online. First, spend some time comparing the available term insurance plans to determine which one is perfect for you. You can then visit the insurer’s website and provide them with your personal information like identity, age, address, and contact details. After doing this, you can add an online payment method of your choice to complete the process. The policy provider will contact you within a few days to inform you if your application is approved. They will send you the necessary documents once the policy is finalized.
Amit Raje is an experienced marketer who has worked in various Fintechs and leading Financial companies in India. With focused experience in Digital, Amit has pioneered multiple digital commerce in India. Now, close to two decades later, he is the vice president and head of the D2C business department. He masters the skill of strategic management, also being certified in it from IIMA. He has challenged his challenges and contributed his efforts in this journey of digital transformation.
Prasad Pimple has a decade-long experience in the Life insurance sector and as EVP, Kotak Life heads Digital Business. He is responsible for developing user friendly product journeys, creating consumer awareness and helping consumers in identifying need for life insurance solutions. He has 20+ years of experience in creating and building business verticals across Insurance, Telecom and Banking sectors
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Ref. No. KLI/22-23/E-BB/2435
The information herein is meant only for general reading purposes and the views being expressed only constitute opinions and therefore cannot be considered as guidelines, recommendations or as a professional guide for the readers. The content has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. Recipients of this information are advised to rely on their own analysis, interpretations & investigations. Readers are also advised to seek independent professional advice in order to arrive at an informed investment decision. Further customer is the advised to go through the sales brochure before conducting any sale. Above illustrations are only for understanding, it is not directly or indirectly related to the performance of any product or plans of Kotak Life.
