Kotak Life launches new product

Mumbai: Kotak Mahindra Old Mutual Life Insurance Ltd has launched Kotak Premium Return Plan (KPRP), a product that offers life protection and return of premium on maturity if the insured person survives, a company release said.

Launched for the customers of Kotak Mahindra Bank, KPRP assures a sum on death, and return of a minimum of premia paid if the insured person survives the plan's maturity. It offers 10-year, 15-year and 20-year term options, attracting maturity benefits in the range of 100 per cent, 111 per cent and 125 per cent of the premia paid respectively.