Kotak Life Insurance launches Kotak premium return plan

Mumbai: Kotak Mahindra Old Mutual Life Insurance Limited (Kotak Life Insurance), has launched Kotak Premium Return Plan (KPRP), a simple and hassle free plan.

Kotak Premium Return Plan (KPRP), is targeted at customers of Kotak Mahindra Bank providing life protection and return of premium on maturity if the policy holder outlives the maturity of the plan, for those who require a monthly savings device with added benefits like life insurance.

The plan offers three term options of 10, 15 and 20 years attracting maturity benefits in the range of 100 per cent, 111 per cent and 125 per cent of the premiums paid respectively. In case of the policyholder's death, the beneficiary would receive the complete sum assured. Thus, offering twin benefit of risk and savings.

KPRP involves no medical tests the monthly premiums are debited to the account.