Protection plan that not only covers you but can also be passed on to your child as a legacy.
Kotak Mahindra Life Insurance Company Ltd (тАЬKotak LifeтАЭ) announced the launch of its new protection plan Kotak Gen2Gen Protect. This product offers an industry-first feature with an option of covering two generations with one plan, thus passing on the legacy of protection.
Coming with a 100% guaranteed return of premium benefit on survival, Kotak Gen2Gen Protect offers a flexibility of transferring the complete risk cover to the child, when the parent (primary life insured) turns sixty or sixty-five years of age. Addionally, this risk cover stays on with the child till the age of sixty.
The product also offers comprehensive coverage through in-built wellness benefits and riders such as Accidental Death Benefit, Permanent Disability Benefit and Critical Illness Plus. For women policyholders, Kotak Gen2Gen Protect offers an additional 5% death benefit.
Mr. Mahesh Balasubramanian, MD of Kotak Mahindra Life Insurance Company Limited┬аsaid,┬атАЬAs an organisation, our unwavering dedication is to innovate and curate products that exceed our customersтАЩ expectations.┬аKotak Gen2Gen Protect is a product through which our customers can secure two generations with a single term plan. The essence of this product comes from the importance we Indians place on family, tradition and legacy. Passing on values, knowledge and teachings to the next generation is deeply ingrained in our Indian culture. Here is a product which understands the essence of these values.┬аI am sure innovative products like Kotak Gen2Gen Protect will expand the protection category and will contribute in a significant way to IRDAIтАЩs vision of тАШInsurance for AllтАЩ by 2047.тАЭ
Mr. Jayaraman R, Appointed Actuary Kotak Mahindra Life Insurance Company Ltd said, тАЬWith over 25 years of experience in the actuarial functions, Jayaraman is serving as the Appointed Actuary at Kotak Mahindra Life Insurance since October 2020. His journey with the company spans an impressive 16 years.
During his tenure at Kotak Mahindra Life Insurance, he has contributed significantly to different facets of actuarial functions including Statutory Valuation and Regulatory Reporting, Shareholder Reporting, Product Development and Pricing and Risk Analytics.
His extensive career has seen him evolve through diverse roles within the actuarial domain. This includes honing skills in Life Insurance and Employee Benefit Valuation.
He is a graduate in mathematics and Fellow of Institute of Actuaries of India.
Jayaraman loves to travel and watch movies and is an avid reader as well. The Alchemist and The Goal are his favourite books.”