HT Bureau
GUWAHATI, June 15: Kotak Mahindra Life Insurance Company Ltd (“Kotak Life”) has launched an innovative protection plan, Kotak Gen2Gen Protect, which introduces an industry-first feature allowing coverage to extend across two generations, offering a unique legacy of protection.
Kotak Gen2Gen Protect stands out with its 100% guaranteed return of premium benefit upon survival. This plan provides the flexibility for the parent, or primary life insured, to transfer the complete risk cover to their child when they turn sixty or sixty-five. The risk cover continues for the child until they reach the age of sixty.
The plan offers comprehensive coverage, incorporating in-built wellness benefits and optional riders such as Accidental Death Benefit, Permanent Disability Benefit, and Critical Illness Plus. Additionally, women policyholders benefit from an extra 5% death benefit.
Mahesh Balasubramanian, MD of Kotak Mahindra Life Insurance Company Limited, emphasized the company’s commitment to innovation. “Kotak Gen2Gen Protect allows our customers to secure two generations with a single term plan. This product embodies the importance of family, tradition, and legacy in Indian culture. It aligns with our dedication to exceed customer expectations and supports IRDAI’s vision of ‘Insurance for All’ by 2047.”
