Kotak Mahindra Life Insurance Co. Ltd. (Kotak Life) on Monday announced the launch of Kotak Fortune Maximiser, a limited pay participating endowment plan, which can be tailored as per customer requirement.
Under the plan, customers have the option to choose their premium amount and also select their premium payment term from 6-15 years and still reap life-long benefits.
“This life insurance plan will help customers accumulate a corpus to fulfil their larger goals without the financial burden. Policyholders can choose from three bonus payout options depending on their savings objective: Cash Bonus (Immediate Payout): Ideal for those who want to avail immediate additional income that can take care of regular payments such as EMIs/Bills/Fees etc. Cash Bonus (Deferred Payout): Ideal for those who are saving for a future goal like travel, marriage, buying a car etc,” the company said.
Key benefits of the policy are:
Choice of Plan Options: Flexibility to choose from 3 Plan Options to fulfil your goal: Life Goal Maximiser, Bright Future Maximiser, Golden Years Maximiser
Choice of Payout Options: Flexibility to choose from 3 Bonus Payout Options, Cash Bonus (Immediate Payout), Cash Bonus (Deferred Payout), Paid-Up Additions
Life cover till age 85 years: Secure your life till 85 years & provide financial protection to your loved ones
Coverage for spouse: Flexibility to secure your spouse’s life under the same plan. You also get high life cover for females, as per the press release.
Besides, you get some optional riders to enhance the policy coverage.
Mahesh Balasubramanian, MD, Kotak Mahindra Life Insurance Co. Ltd., said, “We proudly introduce Kotak Fortune Maximiser – a plan that caters to all life stages of an individual to meet their various life goals. This product is true to our mission of bringing assurance to people’s lives and delivering value through protection and long-term saving.”