Kotak Mahindra Life Insurance offers to disclose TULIP details here

Kotak Mahindra Life Insurance offers to disclose TULIP details here

Kotak Mahindra Life Insurance Company has introduced a new insurance product known as TULIP – Term with Unit Linked Insurance Plan. This is a unit linked insurance plan designed to provide life cover of up to 100 times the annual premium, allowing customers to earn returns similar to a unit linked insurance plan (ULIP). In addition to life cover, it provides additional protection against critical illness and accidental death.

Mahesh Balasubramanian, General Manager Kotak Mahindra Life Insurance Company He said, “Customer centricity has always been the DNA at Kotak Life. TULIP provides our customers with comprehensive protection like a term plan and also an opportunity to grow their wealth like a ULIP. It aims to take care of the basic financial needs of our customers.”
Salient features of TULIP include:

• Life insurance coverage up to 100 times the annual premium.
• Loyalty bonuses of up to 30% of the fund value, which the company incorporates as part of entitlement benefits.
• Refund of 2x premium allocation fees in years 10, 11, 12 and 13.

• Refund of one to three times mortality charges from the 11th policy year onwards.
• Flexibility to withdraw funds in the event of a financial emergency.
• Accidental death and critical illness benefit.

• Choose from eight fund options to invest your money.
Balasubramanian added: “TULIP represents a step towards enhancing financial empowerment of individuals. It aligns seamlessly with our brand commitment, ‘Hum hain… hamesha’, which embodies our pledge to stand by our customers at every turn of their journey.”
TULIP offers policyholders the flexibility to choose from eight equity fund options, including mid-range, debt and mixed categories. This flexibility enables individuals to customize their investment strategy based on their risk tolerance and financial goals.

Overcoming the challenge of previous medical examinations is a major barrier to obtaining specific risk insurance. TULIP seeks to simplify this procedure by providing higher non-medical limits unlike traditional insurance plans. While the specific age limit is not explicitly mentioned, this initiative is expected to enhance access to coverage for a wider demographic.
Kotak Mahindra Life Insurance’s introduction of TULIP represents a major step in meeting the evolving expectations of policyholders. This plan not only challenges the traditional perspective of term insurance, but also creates a comprehensive platform for individuals to protect their financial future while simultaneously promoting wealth growth.

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    (tags for translation) Kotak Mahindra Life Insurance 

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