One of the biggest lessons that the COVID-19 pandemic has taught us is that life is very unpredictable and it is imperative to stay prepared for the unexpected. An ill-timed disease can take a major toll on a family and its financial condition. This is where life term insurance acts as a saviour that protects and secures your family in unfortunate events. It shields your family from any outstanding loans and financial constraints, thereby, helping them carry on with their daily life in a safe and secure way. But that’s just touching the tip of the iceberg and term insurance brings along a slew of all-rounder benefits that easily fulfil the needs of a family during an unfavourable situation. Let’s take a look!
Importance of term insurance
The primary motive of a term insurance policy is to protect you and your family. You can opt for a robust premium for your spouse, children, and parents through term insurance. It helps you to secure your family in your absence. For instance, Mr Kushal Verma, 40, suffered a sad and untimely demise due to Covid 19 that deeply impacted his wife and 18-year-old daughter. In a scenario like this, it’s very likely that the family needs to bear the brunt of such an unexpected event, especially in terms of financial constraints. However, given that Kushal had opted for a term insurance policy, he secured his family’s future through which his daughter could pursue education and fulfil her goals.
What’s great is that a term insurance policy can be subscribed at an economical cost and you can customize the payout as per your requirements. No matter whether you are retired or just started your carreer, a term insurance plan
is one of the most effective forms of insurance to secure your family’s future. Opting for term insurance is much easier than getting out of cash value policies. Term insurance is beneficial as the premium you pay is exempted from income tax as well. In case a person gets diagnosed with a disease such as Heart Attack, Cancer, Paralysis, Stroke, Kidney Failure, whose medical treatment is expensive, the term insurance plan will offer the payout .
Before opting term insurance policy, prioritize your requirements, age, and your family’s responsibilities. Purchasing the right policy with a robust premium can help to secure your future. There are dozens of term insurance policies in the market but one must choose a company that offers an all-rounder solution with maximum benefits, competitive pricing, and good customer service. Consider, Kotak e-Term Plan, for example, that comes with all the key benefits one needs to protect their family and life goals.
Why Opt For Kotak Term Insurance Plan
The offering by Kotak e-Term Plan
has many benefits including a nominal cost insurance plan, flexible premium payment options, as well as plan conversion option. So, one can get a high level of protection at a nominal cost. Not to forget, the plan further provides preferential rates for female lives. Also, whether one prefers a single premium payment mode or the regular option of premium payments over the policy years, Kotak e-Term Plan has got just the right solution. If one opts for the regular mode, one can still have the choice of yearly, half-yearly, quarterly or monthly premium payment. This offers a high level of flexibility in paying premiums.
The plan also offers additional protection in terms of riders that enhance the protection capabilities of a base term insurance plan. These riders include Kotak accidental death benefit rider, Kotak permanent disability benefit rider, and Kotak critical illness plus benefit rider.
Whether you are newly married, just started your career, buying a term insurance policy can always secure your future and the life of your loved ones. Untimely events like an unexpected death of the breadwinner can put a family at great risk of being financially insecure. The Kotak e-Term is a pure risk cover plan and an economical means that offers an adequate level of financial protection. If you are looking to purchase a term insurance policy, Kotak Term Insurance is the right choice for you where you pay for less term and benefit more.