Close
Close

Buy a life insurance plan in a few clicks

Now you can buy life insurance plans completely online right here.

  • Kotak e-Term Plan

    Kotak e-Term Plan is a pure term plan that provides a high level of protection to your loved ones in your absence.

  • Kotak Health Shield

    The Kotak Health Shield Plan helps secure your finances in times of sudden medical expenses related to illness such as Cardiac, Liver, Neuro and Cancer (all early and major stages of illness /conditions of Cancer); along with offering protection for Personal Accident - in case of accidental death or disability.

  • Kotak Lifetime Income Plan

    Kotak Lifetime Income Plan gives you the assurance of your income continuing throughout your life and in your absence throughout the lifetime of your spouse!

Close

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.

Back

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

Buy Term Plan Now
  • 15th Dec 2020
  • 362
When is the Right Time to Buy Term Life Insurance Policy for Yourself? | Kotak Life Insurance

Given the hectic lives that we lead as young professionals, we are constantly worried about our security, well-being and health and that of our loved ones. A great way to secure your life financially is with the help of a term insurance cover. A term plan is a pure protection policy, which provides economic and comprehensive coverage. It aims to protect the life of the insured for a specific period. It is one of the best gifts to buy for yourself and your family, especially given the uncertain times today.

This is the right time to buy a term plan for yourself to avail the various advantages and also will secure your family’s future.

Advantages of buying a term insurance plan now:

1. A term insurance plan offers low premiums at a younger age: The earlier you get term insurance for yourself, the more advantages you can benefit from. That way, you can buy a wider coverage for yourself at low premiums, and also get a life stage increment with the advancement of age. Terms plans for early adopters are extremely affordable, and at a young age, you can enjoy higher coverage for small premiums. Depending on how young you are, the waiting period for the inclusion of certain diseases may pass by the time you need the term cover.

2. Term insurance provides general insurability, along with critical covers: A term plan offers pure life cover, as well as protection against COVID-19 with riders. Additional riders such as critical illness covers, disability, etc. increase the reach of the policy. This not only reduces the monetary burden but also assures that you get the best treatment possible, whenever needed.

3. Term insurance premiums are expected to rise soon, so best buy now at economical premiums: Term plans are one of the most coveted insurance plans due to their economical premiums. However, due to the rising mortality rates, insurance providers are likely to increase their premiums. There has been a suggested rise of about 40% in the charges post-April 2020. However, multiple insurance providers are still offering coverage at the lower premiums like before. So, make the most of the opportunity and buy the best term insurance plan for yourself at affordable premium prices.

Role of term insurance in safeguarding your future:

1. A term plan is a reliable asset when markets fall sharply: A term insurance plan do not bear any savings or investment component. It is unaffected from market fluctuations and thus, becomes a dependable asset for you. This has become even more relevant in the current COVID-19 situation and general economic slowdown, which has led to the fall of even the mightiest of economies. It has shrunk markets, dropped the value of stocks and reduced worth of assets, making even the most profitable investments worthless. In such a scenario, insurance becomes a reliable investment for your future.

2. Term insurance secures you against the financial impact of extreme vulnerabilities: Extreme conditions like the COVID-19 cause a huge financial burden. Loss of income, rising medical expenses and more can create a big dent in the pocket. With a term insurance cover, you will be safe from the financial crunch of such situations.

Tags

Also read

  • What Happens to Term Insurance with No Beneficiaries?
    • 10th Mar 2021
    • 874

    What Happens to Term Insurance with No Beneficiaries?

    If the term Insurance policy has no beneficiary, the assured sum is given to the secondary beneficiary. To know more about term policies in detail, Vi...

    Read more
  • What are the Documents Required for Term Insurance Plan?

    What are the Documents Required for Term Insurance Plan?

    Meta Description - Find out the list of documents for term insurance plan especially when you buy it online. For more information on term insurance vi...

    Read more

Related Plans

  • Kotak e-Term Plan - Online Term Insurance

    Kotak e-Term Plan - Online Term Insurance

    Kotak e-Term Plan is a pure term insurance plan that provides a holistic life protection at affordable prices. Find out the eligibility criteria, key ...

    Know more
  • Kotak Credit Term Group Plan

    Kotak Credit Term Group Plan

    Kotak Credit Term Group Plan provides life cover to a group of borrowers of credit institutions where the life assured is the borrower and the credit ...

    Know more
  • Kotak Complete Cover Group Plan

    Kotak Complete Cover Group Plan

    Kotak Complete Cover Group Plan is a non-participating single-premium plan that provides life cover to a group of borrowers of the credit /lending ins...

    Know more
  • Kotak Assured Savings Plan

    Kotak Assured Savings Plan

    Kotak Assured Savings Plan is an affordable protection plan that enables you to accumulate wealth and strengthens your finances for the future.

    Know more
  • Kotak e-Term Plan

    Kotak e-Term Plan

    Kotak e-Term Plan is a pure term insurance plan that provides a holistic life protection at affordable prices. Find out the eligibility criteria, key ...

    Know more