Buying Life Insurance is one of the most important Financial decision. As on today Savings and Investment is important. The main aim of Life Insurance is to provide economic protection to The family of the policy holder in case of unwanted events. Economic Needs in Old Age. A Famous saying of Warren Buffett is instead of spending and then saving. First you save and then spend. Kotak Life Claim Settlement is 97.40% There are many Life Insurance Plans according to one's need. 1. Child Plan 2. Education Plan 3. Savings Plan. 4. Term or Protection Plan 5. Assured Income Plan 6. Pension Plan 7. Retirement Plan All these plans are completely guaranteed income and not linked to Share or Stock market