Money & Banking

Kotak Mahindra launches insurance plan

Our Bureau Mumbai | Updated on March 12, 2011

Kotak Mahindra Old Mutual Life Insurance announced on Monday the launch of ‘Assured Income Plan', a policy that provides for a tax-free and guaranteed second income.

“The plan guarantees a second income of up to 10.10 per cent of the basic sum assured to customers for a period of 20 years. In addition to the annual income, up to 110 per cent of basic sum assured will be paid on maturity,” said the company.

Customers can opt to pay for a limited term and enjoy the benefit of long-term cover. The plan provides life cover for 30 years for a premium payment term of 15 years and, on death, any time during the policy term it guarantees the customer his Basic Sum Assured. It also provides for optional rider benefits against situations such as accidental death and permanent disability of the life insured.

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Published on March 12, 2011
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