• Banking / Finance Insurance

Kotak Mahindra Life Insurance Launches Kotak G.A.I.N

• nationalherald
• March 6, 2024

A comprehensive long-term savings product designed to receive payouts from the first month of policy issuance

 by Prashant Kapadia/NHN

Mumbai, March 6, 2024: Kotak Mahindra Life Insurance Company Ltd (“Kotak Life”) today announced the launch of Kotak G.A.I.N, a non-linked participating plan which offers long-term saving / income. The product is designed with options to receive payouts from the first month of policy issuance. Kotak G.A.I.N empowers customers with a comprehensive solution for achieving their financial needs by offering flexible options for customised payouts for a long-term regular or lump sum income at maturity.

G.A.I.N is a step towards financially empowering individuals and in line with the brand promise, ‘Hum hain… hamesha’, which underscores the company’s commitment to standing by customers at every stage of their life journey.

Mahesh Balasubramanian, Managing Director, Kotak Mahindra Life Insurance Company Limited said, “Delivering value to our customers through protection and long-term savings has been our core purpose at Kotak Life. G.A.I.N aims to empower customers with a comprehensive solution that provides long-term income and ensures robust protection for their loved ones. All three variants of Kotak G.A.I.N will offer customers a blend of long-term income as well as life cover. We believe

G.A.I.N will play a significant role in helping individuals achieve their financial goals with confidence and peace of mind.”

Salient Features of Kotak G.A.I.N
Early Income Option	Paid-up Addition Option	Premium Saver Option
Receive regular income instantly from the 1st month onwards for monthly payout mode and 1st year onwards for annual payout mode.	The Income benefits will be used to purchase Additional Sum Assured throughout the Policy Term and receive it as lump sum / withdraw as per convenience.	Receive Cash Bonus from the end of the premium payment term. There is a Guaranteed Loyalty Additions (GLAs) payable in the Policy that can also be used to pay the last two years premiums.
Entry Age: a.          Min: 90 Days b.          Max: i.          For Policy Term: 85 – Entry Age: 50 years for premium payment term (PPT) 8 / 55 years for PPT 10 & 12 ii.          For Policy Term: 40 years: 44 years
Maturity Age: Min 40 Years and Max 85 Years
Maturity Benefit: Return of Premium + Terminal Bonus
Policy Term: 85 years minus Entry Age or 40 years (Fixed)
Premium: Min: Rs. 50,000
Premium Payment Term: 8, 10, 12 years

About Kotak Mahindra Life Insurance Company Ltd: Kotak Mahindra Life Insurance Company Limited (Kotak Life) is a 100% owned subsidiary of Kotak Mahindra Bank Limited (Kotak). Kotak Life provides world-class insurance products with high customer empathy. Its product suite leverages the combined prowess of protection and long term savings. Kotak Life is one of the fastest growing insurance companies in India with 286 branches across 146 cities and has covered more than 5 crore active lives as on 31^st December, 2023.