Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

Kotak Guaranteed Fortune Builder

A plan that offers guaranteed income for your future goals. Know more

Kotak e-Term

Protect your family's financial future. 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 life cover. Know more

Kotak e-Invest

Insurance and Investment in one plan. Know more

Kotak Lifetime Income Plan

Retirement years are the golden years of life. Know more


Get a Call

Enter your contact details below and we will get in touch with you at the earliest.

  • Select your Query

Thank you

Our representative will get in touch with you at the earliest.

Importance of Term Insurance at Every Stage of Your Life

Term insurance is the most preferred type of life insurance policies. Click here to know why you need term insurance cover at all stages of life.

  • Aug 27, 2021

Financial planning for the future can be tricky. Sometimes things may go according to the plan, and sometimes it could go awry. An unforeseen and unfortunate situation may occur and derail your entire financial planning. But this does not mean that you stop thinking about having a financially secured future for you and your family.

Today, there are plenty of insurance policies and other investment schemes available in the market that make future planning easier. However, one of the most preferred kinds of insurance policies is term insurance.

What is term insurance?

In simple words, a term plan is a type of life insurance policy that offers coverage for a specific period. In such plans, the insurance company pays the death benefit, i.e., the sum assured amount, to the policyholder’s family in case of their demise during the policy period.

But, if the policyholder survives the policy tenure, the coverage expires, and there are no survival benefits. At his juncture, the insured can either let go of the cover or renew the policy. With renewal, the terms and conditions may also be renewed.

Importance of term insurance at different stages of life

Buying a term plan is the most affordable and effective way of securing your family’s financial future. Let us look at the reasons why you need term insurance cover at all stages of life.

  • Starting your professional career
  • When you are young and start your career, you may have limited or no financial responsibilities and liabilities. Therefore, at this stage, buying a term insurance policy is a perfect choice for you; you can get the coverage at a lower premium.

    The best part of buying term insurance early is that the premium does not increase with age, and it is locked for the entire policy tenure. While the premium rate may differ from one insurance company to another, you can compare the plan and choose the best plan to suit your specific needs. Additionally, you can enjoy tax benefits. The premium you pay for the policy is eligible for tax deduction up to Rs.1.5 lakhs in a financial year under Section 80C of the Indian Income Tax Act.

  • Newly married stage
  • Getting married is an important milestone in your life. You may be excited to start a new life with your beloved spouse. But, as soon as you get married, your financial responsibility increases; you become obliged to take care of your partner’s needs. This is a perfect situation to buy an online term plan. Term insurance will help you get sufficient coverage for your spouse against the increasing liabilities because such liabilities will fall on your partner if something untoward happens to you.

    The payout from the term insurance will come in handy to help your spouse pay off the debts and remain financially secured and stress-free.

  • When you have a child

Words cannot describe the joy of becoming a parent; it is a beautiful feeling. And as a parent, you would want to give the best of everything to your child, isn’t it? From the best education to the best lifestyle, you would like to fulfil your child’s every wish. But, what will happen to your child’s dreams and aspirations if you are not around?

This is why many young parents are investing in several financial schemes like a term insurance policy to secure their child’s future. The claim amount from the policy can be helpful to fulfil your child’s basic needs, including education and other things, for a longer period.

Final Word

Thus, a term insurance policy is vital at every stage of your life. Whether you are married or single, investing in a robust term plan can ensure that your family is financially secure and stable even in your absence.

Kotak e-Term

Download Brochure


  • Life Cover till 85 years for Life & Life Secure Option
  • 3 Payout Options
  • Special Rates for Women
  • Option to exit the policy with premium refund at the age of 60*
  • Special Rates for Non-Tobacco Users
  • Free Medical Check Up every 5th year**

Ref. No. KLI/22-23/E-BB/2435


- A Consumer Education Initiative series by Kotak Life

Similar Articles

टर्म इंश्योरेंस बनाम लाइफ इंश्योरेंस: अंतर और लाभ समझें

5 Term Insurance Benefits for Single Women

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

4 Methods to Calculate How Much Term Insurance You Need

Various Term Insurance Premium Payment Options Available in India

Can You Get Term Insurance Without Income Proof?

Term Insurance Tips for NRIs in India

Individual Life Insurance vs. Group Term Life Insurance

9 Most Frequently Asked Questions on Term Insurance

Age Limit for Term Life Insurance

Should You Have Multiple Term Life Insurance Policies?

Want to surrender your term insurance policy? Here's a guide

How to Buy 1 Crore Life Insurance Policy Without Medical Test

Why Should You Buy Term Insurance under the MWP Act (Married Women’s Property Act)?

Term Insurance Claims – Make Sure Your Claims Are Never Rejected

Why 1 Cr Term Plan Is Necessary For Family?

What Is Staggered Payment Option Under Term Insurance Policy?

Why Buy Term Insurance Plan With a High Cover?

What All Documents Required For Term Insurance In India?

Family Protection Term Insurance: Safeguarding Your Loved Ones

Why should single women purchase term life insurance?

8 Benefits of Term Insurance You Should Know

Should Youngsters, Working Couples Buy Term Insurance Plans?

Terms and Conditions of Term Insurance Plans

Can NRI Buy Life Insurance in India?

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

Why Buy Term Insurance Even at Rising Rates?

Do term insurance policy have a waiting period after buying?

Buying A Term Insurance Plan? Take These Factors into Account

Which Death Type Does Your Term Plan Not Cover?

Is There Any Tax Benefit on Term Insurance?

Advantages of Buying Term Insurance in Your 50s

Why Should You Buy Term Insurance in 2022?

क्रिटिकल इलनेस राइडर के साथ टर्म इंश्योरेंस के लाभ

Cost of Term Insurance Likely to Increase Soon

Make Your Online Term Plan Your Familys Monthly Payout

Reasons Why Term Insurance Claims Get Rejected

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

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

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

A Term Insurance Guide for Disabled People

Types of Deaths Not Covered by Term Insurance

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

Term Insurance for Home Loan: How Term Plan Helps in Paying Off Home Loan?

₹1.5 Crore Term Insurance

Is Death Due to Covered by Term Insurance?

Documents Required for Term Insurance

Term Plan with Spouse Cover

Know the many types of life insurance policies in India

How Does BMI Affect Your Term Insurance Premium?

How Does Term Life Insurance Work? Learn the Benefits

Term Plans are Definitely Cheaper than You Think!

Term Insurance With Riders In India

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

Top 5 Features of Term Insurance

Why Should New Parents Buy Term Life Insurance?

Which Death Types are Covered by Kotak E-Term Plan?

Why Renewal of the Life Insurance Policy is Important?

Term Insurance Trends You Must Know

Insurance Policy for Housewife In India

Can Senior Citizens Avail Term Insurance?

Key Differences Between Term Insurance, ULIPs, And Health Insurance

What is a short term insurance policy?

Term Life Insurance Vs Money Back Life Insurance

What is Term Insurance: Definition and Benefit of Term Plan

Everything about Incremental Term Life Insurance Policy

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

Why Online Term Insurance Plans Cheap?

Benefits of Short-Term Life Insurance Policy

Term Insurance Basics You Should Know

4 Things To Expect From Your Term Insurance Plan in India

Term Insurance vs Life Insurance: Understand the Difference and Benefits

Things To Do After Buying Term Insurance

5 Things to Consider When Buying Term Insurance, if you are Single

Hiding vital facts while buying term insurance? Claims may be rejected

Do Beneficiaries Pay Taxes on Term Insurance?

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

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

How do I Calculate My Term Insurance Premium

Which is better limited pay or regular pay in term insurance?

Top 3 Reasons Why You Should Buy A Term Plan Now

₹75 Lakh Term Insurance

टर्म इंश्योरेंस क्या है? टर्म इंश्योरेंस का मतलब

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

1 करोड़ का टर्म इंश्योरेंस प्लान क्या है?

How Much Cover Should I Take In A Term Plan?

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

6 Reasons That Make Term Insurance a Must Buy

How To Change The Nominee in Term Insurance?

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

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

How To Choose the Right Term Insurance Plan?

Should you buy a Renewable Term Life Policy?

Can I Extend the Tenure of My Term Insurance Plan?

Term Insurance As A Gift | Perfect gift for your Loved ones

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

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

6 Types of Death not covered in Term Insurance Plan

What Should be the Right Term Insurance Plan Duration?

Why Term Insurance Is Better Than ULIP?

भारत में जीवन बीमा कितने प्रकार के होते हैं?

Why You Must Include In Your Financial Planning?

8 Factors to consider before choosing a Critical Illness Insurance

Why is it important to buy term insurance plan?

5 methods to calculate how much term insurance you need

Term Insurance Plans and Policies for Smokers

Term life insurance: Should you opt for lump sum payout or staggered payout?

Guide for Buying Online Term Insurance Plans for Senior Citizens

Difference Between Short-Term and Long-Term Insurance

Salient features of a Term Insurance Plan

Term Life Insurance Plan for Smokers vs Non-Smokers

How to Find the Best Term Insurance Plan in Seven Steps

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

Take 100% Responsibility for Your Family with Term Life Insurance

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

Online vs Offline Term Insurance - A Comparison

Different Types of Premiums in Term Insurance?

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

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

Why Premium Amount for Term Insurance is So Low?

How Does Term Life Insurance Work? Learn the Benefits

Term Insurance for Women

₹5 Crore Term Insurance

How Does Short-Term Life Insurance Work?

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

Why Should You Rethink Short Term Insurance Plans

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

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

How To Evaluate Your Term Insurance Quote?

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

Term Insurance Comparison – What Should You Look Out for?

Should You Buy a Term Plan After 40?

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

Does Term Insurance Cover Accidental Death?

Steps on How to Buy Term Insurance Online

वरिष्ठ नागरिकों के लिए ऑनलाइन टर्म इंश्योरेंस प्लान खरीदने के लिए गाइड

9 Questions You Should Ask Before Buying Term Insurance

Busting Myths and Facts About Term Insurance Policies

Tax Benefits of Term Insurance in India

Is term Insurance Needed for People With No Dependents?

Understanding Term Insurance Riders

How to choose the right term insurance plan

Is a Term Insurance Policy Portable?

All About Term Insurance Inbuilt Coverage

All you need to Know about Term Insurance Plans for housewives

Term Insurance: Smokers vs Non-Smokers

Is Group Term Life Insurance Provided By Employer Sufficient?

₹2 crore Term Insurance

Should Retirees Buy Term Insurance?

Term Insurance vs. Endowment Plan: Know the Differences

Why You Need to Know About the Critical Illness Plan?

What is Salary Protection Insurance and Why You Need It

Can You Increase Your Term Insurance Cover?

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

What Is the Correct Age to Buy Term Insurance?

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

What is Critical Illness Policy?

While Buying Term Insurance Compare Features, Not Just Premiums

Smart Steps to keep in mind while buying term policies

Term Insurance Vs Car Insurance: A Budgetary Choice You'll Regret

How Much Term Life Insurance Cover Do I Need?

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

Why Married People Should Buy Term Insurance Under MWP Act?

Can I Get Term Insurance on Behalf of My Spouse?

Endowment Plans vs Term Plans: Understanding the difference

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

How to Identify Term Insurance According to Your Needs?

Advantages & Disadvantages of Term Insurance in India

How to Buy a Term Life Insurance Online

टर्म इंश्योरेंस क्लेम प्रक्रिया

How to Buy ₹1 Crore Life Insurance Policy Without Medical Test?

Why Term Insurance Is Must For Parents

Calculating Term Insurance Premium

How to Compare Term Insurance Online

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

Renewable Term Insurance

Increasing Term Insurance and Riders

Term Insurance Terminology

जीवन बीमा पॉलिसी लेने की प्रक्रिया क्या है?

Eligibility Criteria for Buying Term Insurance in India

Why One Must Buy Term Insurance before 25 Years

Choose the Nominee of a Term Life Insurance Plan Wisely

Joint vs Individual Term Insurance: Which One Should You Choose?

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

Why does every working women need life insurance?

4 Reasons Why You Need Critical Illness Cover

How Not To Get Your Term Insurance Claim Rejected

Alzheimer's Disease and How It’s Covered Under Health Insurance

Can You Buy Multiple Term Insurance Policy?

₹50 Lakh Term Insurance

Term Insurance Claim Process

10-Year Term Life Insurance Policy - Explained in Detail

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

Term Insurance Calculator - Everything You Need To Know

Is Term Life Insurance Plan Worth?

Term Insurance with Critical Illness

5 Things To Consider While Buying Term Insurance Plan

Is ₹1 Crore Term Insurance Good Enough Cover?

Here's why Renewal of Term Plan is Important

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

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

What Are the Best Term Insurance Plans for Planning Retirement?

Is it Worth Buying Disability Rider on Term Insurance?

Surrender Term Life Insurance Policy

Difference Between Term Insurance and Endowment Plan

Everything About Claim Settlement Ratio for Term Insurance