Insurance Cover of Rs 10 lac @ Rs 182 per month
Kotak Mahindra Old Mutual Life Insurance Limited (Kotak Life Insurance) the life insurance arm of Kotak Mahindra Bank, today announced reduction in its term plan rates upto 40%.
The rate reduction is partly as a result of the reduced solvency margin requirements laid down by IRDA. A key player in both the Group Term Life and Individual Term Life businesses, Kotak Life Insurance is one of the 1st life insurance companies to pass on this benefit to the consumer.
With these reduced rates, for a 30 year old healthy male, a cover of Rs. 10 lakhs for a term of 10 years, the Kotak Term Plan cost as little as Rs. 182/- per month (excluding service tax).
