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About Life Insurance Plans

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Life Insurance Plans for Individuals

A few years ago, most people bought life insurance plans to provide financial protection to their family in the event of their untimely death. Today, life insurance plans has become an important part of an individual’s portfolio because it provides the duel benefit of risk protection as well as wealth creation in the long term. Even though there is no shortage of investment options to choose from, taking a life insurance plan depending on the life stage and requirement is always a wise decision. At kotak life insurance we understand the change in needs and priorities an individual experiences as he progresses through different life stages. Our expertise in the field of investments has helped us design various life insurance plans aptly suited for every life stage need, be it protection, retirement, saving for a child or wealth creation.

Life insurance plans do not necessarily correspond to an individual’s age and are generally tailored towards fulfilling particular needs that may arise at different stages in an individual’s life.

To help you choose the right life insurance plan, we have listed the various life stages explaining the reasons for buying insurance for every stage. So go-ahead and choose the right life insurance plan today.

Life insurance plans for different Life Stages:

Single Adults

The best time to start thinking about life insurance plans is when you are a single young working professional; this is because, with life insurance, over a period of time, due to the power of compounding, you reap much greater benefits. Additionally the part of the premium that goes towards insuring your life is significantly low. Besides covering your life, these plans enable you to reduce your income tax burden and help you save small sums at regular intervals for the future.

Married (Without Children)

Securing your family from the start will keep you tension free from day one. As the liabilities increase, so does your need for converting your savings into sizable corpus. In such times, saving and investment based Unit Linked Life Insurance plans are the most suited for your needs. They provide risk cover (or may add to the existing cover that you may have) as well as wealth creation options that helps you build a sizable corpus over a period of time, which goes a long way in securing your family’s future.

Married (With Children)

As your family grows and the number of dependents increases, it is always advisable to re-assess the risk cover that you may need and plan accordingly. Additionally, as a parent, your priority is to fulfill your child’s dreams and aspirations. Providing a good education or even a modest wedding has become an expensive proposition. You should plan for such milestones using a good children plan. These plans enable you to start building regular savings today to help you secure your child’s immediate and future needs even when you are not around.

Established Families

Our ability to earn for the rest of our lives decreases as we grow old. This leads to compromise in post retirement lifestyle. An early retirement is something one should start planning for at the earliest, so that you don’t experience any drop in the quality of lifestyle due to income fluctuations. A life insurance based retirement plan is an assurance that you will continue to earn a satisfying income and enjoy a comfortable lifestyle, even when you are no longer working.

Reference No. - KLI/09-10/E-WEB/132

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Life insurance gives an individual’s family the financial security needed and protects them from uncertainties and eventualities of life. ULIPs or Unit Linked Insurance Plans for Kotak Life Insurance gives an individual the security of life insurance along with wealth creation opportunities. One can benefit from flexibility, liquidity, strategic savings, tax benefits and fund options that are inherent in a ULIP. Retirement Plans from Kotak Life Insurance helps provide an individual with the financial security to lead a comfortable lifestyle in his post retirement years. Make use of the retirement calculator to assess your retirement options wisely. Savings and Investment Plans from kotak Life Insurance are customized plans that help an individual achieve his / her long-term goals through smart financial planning. Children Plans from Kotak Life Insurance help an individual secure his / her child’s financial future so that in future the child is able to fulfill every dream and aspiration without any hindrance Group Life Insurance Plans from Kotak Life Insurance can help address the needs of both employees and employers, to secure their financial future.
Kotak Mahindra Old Mutual Life Insurance Ltd. A joint venture between Kotak Mahindra Bank Ltd. and Old Mutual plc. 9th floor, Godrej Coliseum, Behind Everard Nagar, Sion (E), Mumbai - 400 022 All rights reserved. Registered with Insurance Regulatory & Development Authority (IRDA) as Life Insurance Company. Regn. No. 107. Insurance is the subject matter of the solicitation Tax benefits available with life insurance are as per the Income Tax Act, 1961, and are subject to amendments made thereto from time to time. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.

Send me a Life Advisor Insurance Guide FAQs NAV Premium Payment options Tax Planning

Life Insurance Plans for Individuals

Send me a Life Advisor

Insurance Guide

FAQs

NAV

Premium Payment options

Tax Planning