Kotak Life launches lifetime income plan

Tags: Kotak Life, News
Kotak Mahindra Old Mutual Life Insurance today launched annuity product lifetime income plan.

Kotak e-Lifetime income plan offers the purchaser of annuity the option to choose a beneficiary other than self, the company said in a statement.

This way, the beneficiary of regular income from the plan can be any close blood relative or spouse, apart from self, it said.

The plan is in response to increasing population longevity, which necessitates a regular source of income for a longer period, to take care of one’s needs in retirement years, it said.

The unique design of the plan also effectively addresses a huge demand among geographically mobile youth population groups such as individuals who have moved away from home in search of professional opportunities, and Non Resident Indians (NRIs), to secure a regular income for family and loved ones living back home, it added.

EDITORIAL OF THE DAY

  • Mental illness needs to be treated not dismissed as madness

    We’re all mad here.” So said the Cheshire cat to Alice (Alice in Wonderland, Lewis Carol). It’s a matter of perspective who we call mad.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Amita Sharma

Sanskrit: a victim of academic schizophrenia

J Robert Oppenheimer, the father of the atomic bomb and ...

Zehra Naqvi

God save the child

Childhood is supposed to be the best phase in life. ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture