Why Buy Term Insurance Plan With a High Cover?
Close
Close

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

Why Buy Term Insurance Plan With a High Cover?

Why Buy Term Insurance Plan With a High Cover?
  • 9th Mar 2021 |
  • 2,538

Why Buy Term Insurance with High Coverage Plan - Kotak Life

Term insurance is a one-way ticket to your family’s secure future. It enables you to safeguard your loved ones and ensure their wellbeing at a time when you are not around to do so yourself. When buying a a term it may be advised to pick a policy with the highest life insurance coverage.This does not only translate to a high sum assured but several other aspects too.

Find out why buying a high coverage plan is crucial.

1. A high sum assured can cater to all your needs.

While you may buy a term plan today, your family will likely use it many years from now. Over the course of time, their lifestyle, standard of living, needs, wants, etc. will evolve, and they would require more financial resources to lead a comfortable life as they do today. A high sum assured can take care of their requirements and offer them the necessary funds to lead a dignified life.

2. A high sum assured can battle rising inflation.

Inflation is constantly on the rise. The cost of education, healthcare, food, and other essentials has risen manifold in the last few decades. The coming years are expected to see the costs of goods and services rising further. Hence, the term insurance coverage you choose today should not only be sufficient in the present but also holds its value in the future. Picking a high sum assured will ensure that your family gets an amount that is able to beat inflation and yet be substantial to cover their needs.

3. High coverage with riders offers enhanced protection.

As stated above, high life insurance coverage is not limited to a high death benefit; it also contains riders that extend the scope of your policy. Adding riders, such as a critical illness rider, permanent disability rider, accidental death rider, and more, can offer you and your family increased protection in times of need. They ensure that every unexpected scenario is covered under the range of your policy and you never have to worry about anything.

4. A high policy term covers you for a longer duration.

Although each insurance provider and policy may have a different eligibility criterion to join, most plans offer long tenures to keep you covered for an extended period. The maximum age for the policy term can be up to the age of 75 years. This ensures that your loved ones stay secured for an increased amount of time.

5. A highly flexible plan can offer more peace of mind.

The more flexible the plan is the better term insurance coverage you can get. The ability to choose your payout options and frequency of premium payments must fit your budgetary requirements at the time. Similarly, a good term plan must offer the chance to customize the policy with riders and more. Picking a highly flexible plan is essential to lead a stress-free life with peace of mind.

Get high coverage with Kotak e-Term Plan

The Kotak e-Term Plan is an economical option that offers high term insurance coverage to fit in all your needs. Here are some features of this policy:

  • The plan offers three payout options: Immediate, Level Recurring, and Increasing Recurring Payout.
  • The plan lets you customize your policy and enhance your coverage with additional riders.
  • You can buy a plan at a premium as low as ₹23 per day.

Kotak e-Term Plan

Download Brochure

Features

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

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

T&C

Browse our library of resources

- A Consumer Education Initiative series by Kotak Life

Similar Articles

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

What Are the Best Term Insurance Plans for Planning Retirement?

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

Can You Increase Your Term Insurance Cover?

Eligibility Criteria for Buying Term Insurance in India

Do Beneficiaries Pay Taxes on Term Insurance?

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

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

Top 3 Reasons Why You Should Buy A Term Plan Now

4 Methods to Calculate How Much Term Insurance You Need

While Buying Term Insurance Compare Features, Not Just Premiums

Can Senior Citizens Avail Term Insurance?

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

10 Ways to Get Your Kids Involved in Your Healthy Lifestyle

4 Things To Expect From Your Term Insurance Plan in India

Why should single women purchase term life insurance?

Different Types of Premium in Term Insurance

Term Insurance Plans and Policies for Smokers

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

Insuring Against Accidents with an Accidental Death Insurance Rider

Can Term Insurance Plans Be Purchased As A Gift?

Why Should New Parents Buy Term Life Insurance?

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

What All Documents Required For Term Insurance In India?

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

How to Buy 1 Crore Life Insurance Policy Without Medical Test

9 Most Frequently Asked Questions on Term Insurance

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

8 Types of Death not covered in Term Insurance Plan

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

Why Term Insurance Is Better Than ULIP?

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

Insurance Policy for Housewife In India

Term Plans are Definitely Cheaper than You Think!

Term Insurance Age Limit – Term Plan for All Age Groups

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

Insuring Protection Against Death With Death Insurance Rider

10 Ways to Mentally Refresh After a Stressful Day

Is a Term Insurance Policy Portable?

Different Types of Protection Plans

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

Steps on How to Buy Term Insurance Online

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

How Does Term Life Insurance Work? Learn the Benefits

Term Insurance Calculator - Everythng You Need To Know

Term Insurance Basics You Should Know

What is Term Insurance - A Complete Guide

Is There Any Tax Benefit on Term Insurance?

कोविड -19 बूस्टर खुराक के दुष्प्रभाव

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

What are the Documents Required for Term Insurance Plan?

Is Term Life Insurance Plan an Investment or Expense?

9 Ways to Help Family Members in Financial Trouble

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

How Not To Get Your Term Insurance Claim Rejected

6 Reasons That Make Term Insurance a Must Buy

8 Benefits of Term Insurance You Should Know

Which Death Type Does Your Term Plan Not Cover?

Term Plan with Spouse Cover

How Much Term Insurance Do I Need

8 Factors to consider before choosing a Critical Illness Insurance

Term Insurance With Riders In India

Endowment Plans vs Term Plans: Understanding the difference

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

Calculating Term Insurance Premium

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

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

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

Is term Insurance Needed for People With No Dependents?

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

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

Protection for your family

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

How to Compare Term Insurance Online

Choosing Riders for Insurance Plans

Why Married People Should Buy Term Insurance Under MWP Act?

What Is the Correct Age to Buy Term Insurance?

What Happens if you Hide Facts in your Term Insurance?

Tips to Choose the Right Term Period for Term Insurance Plan

Key Differences Between Term Insurance, ULIPs, And Health Insurance

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

Can I Extend the Tenure of My Term Insurance Plan?

10-Year Term Life Insurance Policy - Explained in Detail

Planning For Son or Daughter's Wedding

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

Side Effects of Covid-19 Booster Doses

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

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

Why Buy Term Insurance Even at Rising Rates?

5 Things To Consider While Buying Term Insurance Plan

Everything About Claim Settlement Ratio for Term Insurance

How to Identify Term Insurance According to Your Needs?

5 Benefits of Early Retirement Planning

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

What are incremental term insurance plans?

Is Group Term Life Insurance Provided By Employer Sufficient?

Insuring yourself against Ill Health with a Critical Illness Rider

Insuring Against Disability With Disability Insurance Rider

What Is a Renewable Term Insurance Policy?

8 Things To Do After Buying Term Insurance

What Should You opt for - Limited or Premium Pay?

Ensure Protection Against Death, Disease & Disability With Life Insurance

Cost of Term Insurance Likely to Increase Soon

5 Term Insurance Benefits for Single Women

4 Reasons Why You Need Critical Illness Cover

How Much Cover Should I Take In A Term Plan?

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

How To Choose the Right Term Insurance Plan?

All you need to Know about Term Insurance Plans for Housewives

Buying A Term Insurance Plan? Take These Factors into Account

Why is it important to buy term insurance plan?

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

Advantages & Disadvantages of Term Insurance in India

Should Youngsters, Working Couples Buy Term Insurance Plans?

Term Life Insurance Plan for Smokers vs Non-Smokers

Tax Benefits of Term Insurance in India

Is Life Insurance Investment Worthy Enough

What is a short term insurance policy?

Advantages of Buying Term Insurance in Your 50s

Do You Need Term Insurance Cover After Retirement?

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

6 Types of Death not covered in Term Insurance Plan

Should You Have Multiple Term Life Insurance Policies?

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

Why Should You Buy Term Insurance in 2022?

Is ₹1 Crore Term Insurance Good Enough Cover?

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

All About Term Insurance Inbuilt Coverage

Comparing Term Plans – What Should You Look Out For

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

Difference Between Term Insurance vs Life Insurance

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

Term Insurance: Smokers vs Non-Smokers

Increasing Term Insurance and Riders

Understanding Term Insurance Riders

Why Premium Amount for Term Insurance is So Low?

Know How to Invest at Every Age for Larger Returns

Why 1 Cr Term Plan Is Necessary For Family?

What is Insurance Premium - A Detailed Guide

Can I Get Term Insurance on Behalf of My Spouse?

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

Importance of Term Insurance at Every Stage of Your Life

Make Your Online Term Plan Your Familys Monthly Payout

What is Critical Illness Policy

How To Change The Nominee in Term Insurance?

Why does every working woman need life insurance?

How Does A Term Life Insurance Work in India?

Does Term Insurance Cover Accidental Death?

टर्म इंश्योरेंस क्या है? टर्म इंश्योरेंस का मतलब

Term Insurance with Critical Illness

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

Should You Buy a Term Plan After 40?

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

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

Busting Myths and Facts About Term Insurance Policies

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

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

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

Planning For Children's Future

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

Individual Life Insurance vs. Group Term Life Insurance

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