Kotak Mahindra Old Mutual Life Insurance Limited (Kotak Life Insurance), has launched ‘Kotak Eternal Life Plans’ a new-generation participating whole life plans that provides enhanced protection till age of 99, even while bringing two significant benefits of wealth creation and protection.
The Company said that, the plans will provide a high cover at lower premiums, cash lumpsum benefits at the end of Premium Payment Term and increased choice through a range of plan options with two unique variants, the product has been packaged to suit different sets and needs of customers:
Eternal Life Premier Shield – Offering a Comprehensive Whole life cover till age 99 with premiums that match income and lifestyle.
Eternal Life Classic Shield – Offering a Comprehensive Whole life cover till age 99 along with guaranteed level premiums and flexible premium payment term.
The Premier Shield is a first-of-its-kind offering in the industry and offers a fixed 5% increase per year in the premium to a young policyholder allowing him to access high cover.
"How does the product work?"
Step 1: Choose your life cover - the basic Sum Assured, based on your existing insurance cover and needs.
Step 2: Decide the number of years you wish to pay premiums, based on your personal and financial goals.
Step 3: Choose a plan from two unique variants based on premium option preference.
Step 4: Receive a lump sum Cash Benefit at the end of your Premium Payment term.
Step 5: Get guaranteed protection till your 99th birthday and enjoy the potential for additional bonus boosts to your life cover along the way!
Speaking at the launch, Gaurang Shah, Managing Director, Kotak Life Insurance, said, "In today’s dynamic world, the importance of financial security is getting more pronounced with the transition from joint to a nuclear family structure. As lifespans increase; the need for Indian consumers to stay adequately protected throughout life becomes more acute. Today, along with adequate protection, customers also need a safeguard against major misfortunes in life such as Illness/Disease and Disability. Our latest product offering – Kotak Eternal Life Plans, are based on this reality of the changing Indian Consumer."
For more information, please contact Kotak Life at 60505000/1800228081 or email at lifeexpert@kotak.com
The Company said that, the plans will provide a high cover at lower premiums, cash lumpsum benefits at the end of Premium Payment Term and increased choice through a range of plan options with two unique variants, the product has been packaged to suit different sets and needs of customers:
Eternal Life Premier Shield – Offering a Comprehensive Whole life cover till age 99 with premiums that match income and lifestyle.
Eternal Life Classic Shield – Offering a Comprehensive Whole life cover till age 99 along with guaranteed level premiums and flexible premium payment term.
The Premier Shield is a first-of-its-kind offering in the industry and offers a fixed 5% increase per year in the premium to a young policyholder allowing him to access high cover.
"How does the product work?"
Step 1: Choose your life cover - the basic Sum Assured, based on your existing insurance cover and needs.
Step 2: Decide the number of years you wish to pay premiums, based on your personal and financial goals.
Step 3: Choose a plan from two unique variants based on premium option preference.
Step 4: Receive a lump sum Cash Benefit at the end of your Premium Payment term.
Step 5: Get guaranteed protection till your 99th birthday and enjoy the potential for additional bonus boosts to your life cover along the way!
Speaking at the launch, Gaurang Shah, Managing Director, Kotak Life Insurance, said, "In today’s dynamic world, the importance of financial security is getting more pronounced with the transition from joint to a nuclear family structure. As lifespans increase; the need for Indian consumers to stay adequately protected throughout life becomes more acute. Today, along with adequate protection, customers also need a safeguard against major misfortunes in life such as Illness/Disease and Disability. Our latest product offering – Kotak Eternal Life Plans, are based on this reality of the changing Indian Consumer."
For more information, please contact Kotak Life at 60505000/1800228081 or email at lifeexpert@kotak.com
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