Help Center
Locate us
What is Term Insurance and how it works?
Popular Products
Show More
Quick Help
Show More
Frequently Asked Questions
Show More
Disclaimer: This Article is for information purpose only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. Bank make no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Newsletter. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from Kotak. Kotak, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein.
Success
Failure
It is always advisable to be prepared for various contingencies in life with a financial back-up that will protect your family when you cannot. Getting life insurance coverage that can fulfil your family’s needs and let them live a worry-free life is the best decision in current times.
A term insurance policy is an appropriate choice for such emergencies since it ensures that you pay low premiums for high financial coverage. This policy provides financial coverage to beneficiaries in the event the insured dies within the policy’s maturity. Among the different insurance products, a term life insurance offers the highest life coverage for extremely affordable premiums.
What is Term Life Insurance?
In a Term Life Insurance, the insured’s family can get the benefit and aid of a fixed insurance amount if the insured meets with an untimely death. However, the beneficiary can only get the insurance coverage if the policyholder’s demise occurred within the policy’s duration. The lump-sum death benefit will be of immense financial help to your family. The term life insurance policy will help your family take care of big expenses like marriage, higher education, etc.
How does a Term Plan Work?
Before we understand the workings of a term plan, let us look at some primary features of a term insurance policy:
Now let us look at how term plans work:
Summing Up
A term insurance plan will confirm your loved one’s financial security. This policy safeguards your family’s outstanding debts, any legal obligations, or the financial support to deal with heavy expenditures.
In conclusion, the only certain thing in life is uncertainty. However, you can assure your family’s financial future if you are prepared. After buying term life insurance, you can be at peace, knowing your family’s future will be secure even if you are not around.
Disclaimer:
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS.
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
Kotak Mahindra Bank Ltd is a corporate agent of Kotak Mahindra Life Insurance Company Ltd. with Corporate agency License number - CA0250. Regd. Office 27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400051. The plan is offered and underwritten by Kotak Mahindra Life Insurance Company Ltd. Participation of customers of Corporate Agent shall be purely on voluntary basis.
You have already rated this article
OK