Kotak Mahindra Old Mutual Life Insurance has introduced a new annuity product, Kotak e-Lifetime Income Plan, for regular life time income.
The new policy provides the purchaser with an option to choose a beneficiary other than self.
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Launched to address the demand among geographically mobile youth population, the Kotak e-Lifetime Income Plan will provide regular income for a longer period.
Under the plan, one time premium paid by the purchaser will be paid to the annuitant at the interval chosen – monthly, quarterly, half yearly or yearly at the predefined annuity rate.
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