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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The need for financial independence is crucial for everyone, and women are no exception. Moreover, having a financial plan that you can extend to your loved ones is even better. This is what makes a term insurance policy a vital part of a woman’s financial planning. When it comes to single women, creating a strong financial support system is necessary, given the added responsibilities that they have to shoulder. A term plan can give a single woman’s family members security and stability to continue with their lives with sufficient funds in their absence.
1. A safety net for loved ones: For single women, a term plan is an ideal way to build a safety financial net for their loved ones. As sole providers for their parents and dependent siblings, single women can leverage a term plan easily to ensure that their family can live a financially secure and dignified life in their absence.
2. Funding career goals: Despite the burden of multiple responsibilities, single women enjoy a certain degree of independence which enables them to take on new ventures and fulfil their dream business plans. However, the initial investments could build up some debts which need to be repaid over the course of time. A term insurance policy ensures that the loved ones do not reel under the pressure of these debts in case of the insured’s untimely demise.
3. Health cover against critical illnesses: Given the hectic schedules and additional duties single women have to keep up with, lifestyle diseases or even illnesses like breast cancer or ovarian cancer can be a result of excessive stress. Adding a critical illness or health rider to a term insurance policy can enhance the coverage of a term plan substantially and cushion one against the illnesses that are listed in the plan.
4. Financial planning through tax saving: Single women can lower their tax liability with a term plan. Under Section 80C of the Income Tax Act of 1961, women can claim a tax deduction of up to Rs. 1.5 lakhs on the premiums paid towards a term insurance policy. Such savings on tax can help one invest in different avenues and create a more robust financial plan.
Kotak Life offers an economical and pure risk-cover term insurance plan that can help single women secure their family’s future with sufficient funds. The Kotak e-Term Plan is also known for offering special premium rates to women, which makes the term plan an ideal choice for single women.
The following are the offerings of the plan:
Kotak e-Term Plan
To sum it up
Term insurance can give single women peace of mind and stability. Knowing that their loved ones are secured can also provide single women with the confidence to excel in their profession, start new ventures, and live a stress-free life.
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