Kotak Life Forays into Comprehensive Health Insurance; Launches Kotak Health Shield

Mumbai: Kotak Mahindra Life Insurance Company Limited (Kotak Life) today announced its foray into health insurance with a new product launch - Kotak Health Shield. This product offers a fixed benefit, comprehensive health insurance plan, covering most critical illnesses such as Cancer, Cardiac, Liver and Neuro – all under one single product.  

Bollywood actor and cancer survivor Sonali Bendre unveiled the product today live on Facebook https://www.facebook.com/kotaklife/

G. Murlidhar, MD & CEO, Kotak Mahindra Life Insurance Company Ltd. said, "It’s our constant endeavour to offer affordable insurance solutions to Indian consumers. Rising health treatment costs continues to be a major financial strain to crores of Indians across geographies, and our new Kotak Health Shield is yet another insurance policy from Kotak Life that has been designed to address the much required insurance cover to Indian consumers. Kotak Health Shield is an affordable health insurance policy that covers major critical illnesses.”

The policy offers several other benefits such as daily hospitalisation cash benefit, waiver of premium on being diagnosed with minor conditions, and income benefit on being diagnosed with major conditions. The plan also provides tax benefits on premium paid under Section 80 (D) of Income Tax Act, 1961.

In addition to the health policy, Kotak's Personal Accident Shield scheme offers financial protection against personal accident to the life assured, under which it will pay a lump-sum amount in case of an accidental death or disability.

About Kotak Mahindra Life Insurance Company Limited

Kotak Mahindra Life Insurance Company Limited is a 100% subsidiary of Kotak Mahindra Bank Limited (Kotak). Kotak Life provides world-class life insurance products with high customer empathy. Its product suite leverages the combined prowess of protection and long-term savings. Kotak Life is one of the fastest growing insurance companies in India and has covered over 15 million lives as on 31st March, 2020. 

Source: Press Release