Chennai, January 4, 2024: Kotak Mahindra Life Insurance Company Limited (“Kotak Life”) today announced the launch of T.U.L.I.P – Term with Unit Linked Insurance Plan. T.U.L.I.P. is a unit linked term insurance plan that offers life cover upto 100 times of the annual premium while giving a customer the opportunity to earn returns like a unit linked insurance plan (ULIP). It also provides additional protection against critical illnesses and accidental death.
Mahesh Balasubramanian, Managing Director, Kotak Mahindra Life Insurance Company Limited said, “Customer centricity has always been the DNA at Kotak Life. TULIP offers our customers comprehensive protection like a term plan and also the opportunity to grow their wealth like a ULIP. It is aimed at taking care of our customer’s core financial needs.”
T.U.L.I.P. is a step towards financially empowering individuals. It is in sync with our brand promise, ‘Hum hain… hamesha’, where we give the assurance to be by our customers at every step of their journey.
USP of T.U.L.I.P:
• Life cover up to 100 times of the annual premium.
• Loyalty additions up to 30% of fund value as a part of maturity benefits added by the company
• Refund of 2 times the premium allocation charges in the 10th, 11th, 12th and 13th year
• Refund of 1 time to 3 times of the mortality charges from the 11th policy year onwards
• Flexibility to withdraw money in case of a financial emergency
• Accidental Death Benefit and Critical Illness rider
• 8 fund options to choose from to invest one’s money
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