Kotak e-Insurance: Online Term Insurance Plan Review

 

Kotak e-Insurance Online Term Insurance Plan Review

Finally Kotal Life Insurance has launched e-Insurance Plan. It is the third online term insurance plan in India after AEGON Religare iTerm and ICICI Pru Life iProtect.

So Finally, India has 3 online term insurance plans. I am personally fond of term insurance plans rather than insurance cum investment products like ULIPs, Endowment policies and money back policies.

This is because term insurance plans have low premiums and huge life insurance coverage.

The Maximum age at maturity under Kotak life’s e-Insurance online term insurance plan is 70 years. You can pay the online premiums of Kotal e-Insurance just like ICICI i-Protect term insurance plan.

The main advantage of Kotak e-Insurance is that here you will have 10% less premium than the traditional offline term insurance plans that you buy from the agents and distributors. This is because in case of online plans, the company does not have to give any commissions to the insurance agents and distributors.

This is the excellent thing. You can get 10% discounts for shopping online. Isn’t it?

I personally advise to people that – Term Insurance + Equity Mutual Funds + PPF is the best financial planning combination and one should stick to it for the long time horizon.

In my Opinion, you should go for this plan as there is not any insurance agent commissions and you can renew this plan online every year from your home and it offers you 10% discount on the premium.

So go for it. By the way, I personally advise people to split their life insurance cover between 2-3 life insurance companies.