Kotak Life launches cover with legacy option

Mumbai: Kotak Mahindra Life Insurance has launched Kotak Gen2Gen Income, a non-linked savings plan designed to provide financial protection for two generations. The plan offers an industry-first feature that allows policyholders to secure income and protection for both themselves and their heirs under a single policy, by choosing the legacy option.

This product includes flexible plan options, catering to diverse financial goals such as building a retirement corpus or creating a wealth legacy for the next generation.

On maturity of the policy, the policyholder receives the accumulated benefits, which may include the sum assured, bonuses, and any additional amounts, depending on the chosen plan option. If the policyholder has selected the legacy option, the benefits can be passed on to the next generation. Additionally, the policy may offer lump sum payments or regular income, depending on the plan selected, to meet the financial needs of both the policyholder and their heirs.

Mahesh Balasubramanian, managing director of Kotak Mahindra Life, said, “Today’s consumers have diverse financial needs, and life insurance solutions must be aligned with their life stages. At Kotak Life, we strive to innovate products rooted in deep research and consumer insights. Kotak Gen2Gen Income reflects this commitment, offering a way to pass down values and legacy, which is a core aspect of Indian culture.”

The plan also includes optional riders, wellness benefits, and enhanced benefits for female policyholders, offering higher sums assured at the same premium rates.


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