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Kotak Mahindra Old Mutual Life Insurance Ltd (Kotak Life Insurance) today launched its ‘assured protection plan’.
Kotak Assured Protection Plan, a protection-cum-savings product, will provide death cover (natural causes), against accidental death, premium waiver in the case of accidental disability during the premium paying term and critical illness cover for 12 illnesses prior to attaining the age of 70.
The plan provides cover till the attainment of 75 years.
Further, the plan provides the full sum assured at the end of the policy term. In the case of a payout for critical illness or if the premium waiver is applicable due to accidental disability, the policy will continue with other benefits in full.
If critical illness and premium waiver benefits are availed, the maturity amount (basic sum assured) will still be paid in full on survival to maturity. In addition, loan against policy option is available.
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