The esteemed recognition is based on a NielsenIQ consumer survey of 2,200 participants across India

MUMBAI, India, July 22, 2024 -- Kotak Mahindra Life Insurance Company Ltd's ("Kotak Life") product T.U.L.I.P – Term with Unit Linked Insurance Plan has been awarded the prestigious 'Product of the Year 2024' under the 'Life Insurance – ULIP' category at the 16th Edition of the Product of the Year (POY) Awards. Product of the Year is the world's largest consumer-voted award for product innovation. It is an internationally Recognised Certification that celebrates and rewards the best innovations in consumer products and services.

Established over three decades ago in France, POY currently operates in over 40 countries.

T.U.L.I.P. is a unit linked term insurance plan that offers life cover upto 100 times the annual premium while giving customers the opportunity to earn returns like a unit linked insurance plan (ULIP). It also provides additional protection against critical illnesses and accidental death.

Speaking on the recognition, Mahesh Balasubramanian, Managing Director, Kotak Life Insurance Company Limited, said, "We are elated to receive this recognition – a testament to our commitment as voted by consumers. At Kotak Life, our unwavering dedication is to innovate and curate products that exceed our customers' expectations. T.U.L.I.P. 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."

About Kotak Mahindra Life Insurance Company Ltd 

Kotak Mahindra Life Insurance Company Limited (Kotak Life) is a 100% owned subsidiary of Kotak Mahindra Bank Limited (Kotak). Kotak Life provides world-class 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 with 292 branches across the country and has covered more than 5 crore active lives as on 31st March 2024.

For more details, please visit www.kotaklife.com

Photo: https://mma.prnewswire.com/media/2466051/TULIP_Kotak_Mahindra.jpg

 

Cision View original content to download multimedia:https://www.prnewswire.com/in/news-releases/kotak-life-insurance-companys-tulip-plan-wins-product-of-the-year-2024-award-302202590.html