The Hindu Business Line : Unit-linked insurance for kids

HEADSTART: (From left) Mr Rahul Sinha, Senior Vice-President, Marketing, Kotak Life Insurance; Mr Gaurang Shah, MD; and Mr Bryce Johns, Development Actuary & CIO, Kotak Life Insurance, at the launch of 'Headstart' child plans in Mumbai on Tuesday. - Paul Noronha

Mumbai , Nov. 21

Kotak Mahindra Old Mutual Life Insurance has launched a unit-linked insurance plan for children. Called `Headstart', it is available in two variants: `Future Protect,' which offers an investment and risk protection package, and `Assure Wealth' that builds a corpus for the child.

The product offers a `dynamic floor fund', which comes with investment advice from experts. The fund provides capital protection in the case of a volatile market. It aims to protect at least 90 per cent of the net investment over a 12-month period.

`Headstart' offers parents the option to save for two children with one plan, said company officials. The policy also has a joint life option, which pays out the sum assured in the event of the death of both parents.

Mr Gaurang Shah, Managing Director, Kotak Life Insurance, said that the company hopes to see a growth of 100 per cent in its new business premium by the end of the financial year.

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