Kotak Life Insurance launches Kotak Gen2Gen Protect
Protection plan that not only covers you but can also be passed on to your child as a legacy
MUMBAI, India, June 14, 2024 /PRNewswire/ — Kotak Mahindra Life Insurance Company Ltd (“Kotak Life”) today announced the launch of its new protection plan Kotak Gen2Gen Protect. This product offers an industry-first feature with an option of covering two generations with one plan, thus passing on the legacy of protection.
Coming with a 100% guaranteed return of premium benefit on survival, Kotak Gen2Gen Protect offers a flexibility of transferring the complete risk cover to the child, when the parent (primary life insured) turns sixty or sixty-five years of age. Additionally, this risk cover stays on with the child till the age of sixty.
The product also offers comprehensive coverage through in-built wellness benefits and riders such as Accidental Death Benefit, Permanent Disability Benefit and Critical Illness Plus. For women policyholders, Kotak Gen2Gen Protect offers an additional 5% death benefit.
Mahesh Balasubramanian, MD, Kotak Mahindra Life Insurance Company Limited, said, “As an organisation, our unwavering dedication is to innovate and curate products that exceed our customers’ expectations. Kotak Gen2Gen Protect is a product through which our customers can secure two generations with a single term plan. The essence of this product comes from the importance we Indians place on family, tradition and legacy. Passing on values, knowledge and teachings to the next generation is deeply ingrained in our Indian culture. Here is a product which understands the essence of these values. I am sure innovative products like Kotak Gen2Gen Protect will expand the protection category and will contribute in a significant way to IRDAI’s vision of ‘Insurance for All’ by 2047.”
About Kotak Mahindra Life Insurance Company Ltd
Kotak Mahindra Life Insurance Company Limited (Kotak Life) is a 100% owned subsidiary of Kotak Mahindra Bank Limited (Kotak). Kotak Life provides world-class insurance products with high customer empathy. Its product suite leverages the combined prowess of protection and long term savings. Kotak Life is one of the fastest growing insurance companies in India with 292 branches across the country and has covered more than 5 crore active lives as on 31st March 2024.
For more details, please visit www.kotaklife.com
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