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

  • Legalising betting on cricket will raise tax collections for cash-strapped government

    Last month, Justice RM Lodha committee on cricket reforms made several groundbreaking recommendations to the Supreme Court.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Arun Nigavekar

Tablets, memory cards for educatioNext

The Commonwealth he­ads of government mee­ting held in Malta last ...

Rajgopal Nidamboor

Try to awaken the archaeologist within

Our mind is far ahead of René Descartes’ famous maxim, ...

Dharmendra Khandal

Urbanisation is costing us our wildlife

The road transport and highways minister Nitin Gadkari aims to ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture