Kotak Insurance slashes term plans rate upto 40 pc

{image-Kotak Life Insurance_28082008.jpg news.oneindia.in}Mumbai, Aug 28: Kotak Mahindra Old Mutual Life Insurance Limited (Kotak Life Insurance), the life insurance arm of Kotak Mahindra Bank, on Thursday, Aug 28 announced reduction in its term plan rates upto 40 per cent.

With this reduction in rates, a 30-year-old healthy male can get a cover of Rs 10 lakh for a term of 10 years at the cost of as little as Rs 182 per month (excluding service tax). Speaking at the re-launch of the plan, Kotak Life Insurance managing director Gaurang Shah said '' We believe that for an under-insured country like India, cheaper term plans will help increase penetration of insurance products. This move is a reflection of our philosophy of providing value to the consumer. Kotak Term Plan is a pure risk cover plan that is truly an economical means of providing an individual's family with a high level of financial protection. Kotak Preferred Term offers special premium rates to non-tobacco users and women,'' he added.

UNI