Kotak Mahindra Old Mutual Life Insurance today launched a protection-cum-savings scheme, which offers cover till the age of 75 years.
The ‘Assured Protection Plan’ provides death cover under natural circumstances, and against accidental death with 200 percent of sum assured, the company said in a release here.
It also offers a waiver of premium in case of accidental disability during the premium paying term and critical illness cover for 12 illnesses with 20 per cent of the basic sum assured prior to the age of 70 years, it added.
The minimum age for the plan is 18 years and the maximum is 50 and the premium begins from Rs 5,000 per year. Kotak Mahindra Old Mutual Life Insurance is a 74:26 joint venture between Kotak Mahindra Bank, its affiliates and Old Mutual.
Â
