Financial risks these days are higher than before. Most people will agree with this statement, considering how unforeseen expenses and crises are tearing into family budgets and investments while putting entire households in danger of losing their financial foothold and standing. For instance, consider a scenario where someone is the only/main breadwinner of a family.
Gold Rate
04 April 2025
If he/she dies unexpectedly, then the entire family will face financial distress since there will be no regular flow of income to meet daily costs, let alone pay for future goals like the education of children and weddings. What’s more, if there are liabilities or debts left behind, then the situation only worsens, right? So, what should one do to avoid any such unforeseen financial risk for the family? Purchasing Kotak e-Term is one of the most effective ways to financially secure a family’s future. Here’s why it is important for every family today.
Why Do You Need Term Insurance Today?
Kotak e-Term is one of the best forms of financial protection against such unexpected or unforeseen crises in life. These are some of the key aspects that should be highlighted in this regard.
– Kotak e-Term offers pure and high life coverage for your chosen duration, which can extend up to 40 years or until a predefined age limit set by the insurer.
– In case the policyholder passes away in this period, the insurance company will pay the pre-fixed death benefit or sum assured to his/her nominee. The funds can thus be used to meet various household costs, debt repayments, future goals, investments, etc.
– The death benefit payout receives tax exemption under Section 10(10D) if you maintain premiums below 10% of sum assured since April 1st 2012. The annual premium payments under Section 80C have an allowance up to ₹1.5 lakh which can provide tax deductions.
Life customers who acquire policies through certain term insurance companies have the option to enhance their protection by increasing their coverage during specified life milestones. The option becomes available when customers choose it during the policy purchase phase.
Kotak e-Term delivers exceptional coverage through affordable premiums (which exceeds numerous other life insurance plans) particularly when customers initiate their coverage at an early age. The policy premiums become unalterable after their initial establishment during the purchase process.
The Kotak e-Term plan enables you to determine needed coverage through their online calculator and provides death benefits equivalent to 25 times your annual income so your family maintains their current lifestyle after your death.
Additional benefit riders along with add-ons exist for term insurance plans which deliver strengthened financial protection when death or disabilities occur because of unexpected accidents. Riders that enhance term insurance policies consist of Accidental Death Benefit together with Critical Illness Cover and Waiver of Premium and other coverage options.
What You Should Do?
With your understanding of term insurance benefits you should proceed to include them as part of your financial planning. The important thing about gaining peace of mind through this purchase becomes evident because your family will survive financially without you after your departure. The term insurance product of Kotak e-Term functions as a dependable security solution for your family and comes equipped with flexible additional insurance choices. You have the option to strategically apply riders which extend coverage across various circumstances. Financial security from unplanned dangers can only be found through this policy’s unique features.
