NE BUSINESS BUREAU
CHENNAI, JUNE 27
Kotak Mahindra Life Insurance Company Ltd on Thursday 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 said Kotak Life Appointed Actuary R. Jayaraman.
- Protection plan that not only covers you but can also be passed on to your child as a legacy
- 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: Kotak Life Appointed Actuary R. Jayaraman
- For women policyholders, Kotak Gen2Gen Protect offers an additional 5% death benefit
Launching the product Mr Jayaraman told reporters that ‘The product 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 60 or 65 years of age. Additionally, this risk cover stays on with the child till the age of 60,’’ he said.
Pass on the legacy of protection with the Kotak Gen2Gen Protect. One plan’s security that ensures two generations’ safety*!
Visit https://t.co/hQTXhildEq to know more#legacy #protection #industryfirst #kotaklife pic.twitter.com/xXuvKyYgJ5
— Kotak Life (@Kotak_Life) June 25, 2024
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, he added.
Replying to queries he said that even the children of ‘Living together couples’ can opt for this product provided if they add their surname in their children’s name. The product launched a fortnight ago is receiving good response from the public, he added.
Commenting on the launch, Mahesh Balasubramanian, MD of 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.”
