Kotak Life unveils Assured Income Plan
New Delhi: Kotak Life insurance today launched the Kotak Assured Income Plan, which would provide guaranteed annual income to the insured for 20 years.
"The Kotak Assured Income plan provides life cover for 30 years for a premium payment term of 15 years," Kotak Life said in a statement.
The plan would provide guarantee of a second income of up to 10.10 per cent of the sum assured to policyholders for a period of 20 years, it added.
The investment in this scheme is eligible for income tax deduction.
Kotak Mahindra Old Mutual Life Insurance is a 74:26 joint venture between Kotak Mahindra Bank and Old Mutual Plc.
The company provides cover to over 3 million people
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