Kotak Mahindra Life Insurance has launched Kotak Gen2Gen Income, a non-linked savings plan designed to provide financial protection for two generations. This unique plan allows policyholders to secure income and protection for both themselves and their heirs under a single policy, by choosing the legacy option. The plan offers flexible plan options to cater to diverse financial goals, such as building a retirement corpus or creating a wealth legacy for the next generation.
Upon policy maturity, the policyholder receives the accumulated benefits, which may include the sum assured, bonuses, and 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. The plan also offers lump sum payments or regular income to meet the financial needs of both the policyholder and their heirs.
According to Mahesh Balasubramanian, managing director of Kotak Mahindra Life, the plan reflects the company’s commitment to innovation and understanding consumer needs. The plan also includes optional riders, wellness benefits, and enhanced benefits for female policyholders, offering higher sums assured at the same premium rates.
Kotak Gen2Gen Income is designed to align with the diverse financial needs of today’s consumers, who require life insurance solutions that cater to their life stages. The plan allows policyholders to pass down values and legacy, which is a core aspect of Indian culture. Overall, Kotak Gen2Gen Income is a comprehensive life insurance plan that offers a unique combination of income and protection for two generations, making it an attractive option for those seeking to secure their financial future.