The Telegraph
Since 1st March, 1999
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New Kotak policy shuns tobacco addicts

New Delhi, Sept. 12: Tobacco just got more injurious to health, or rather, health insurance. If you consume tobacco in any form, chances are you may find insurance companies shutting the doors on you.

In one of its new policies launched today, the Kotak preferred term plan (KPTP), a pure risk product offered by Om Kotak Mahindra Life Insurance, will only cover non-tobacco consuming men over the age of 25. But the insurance company will remain liberal with women, offering cover to both categories.

Backing the concept behind the plan, chief marketing officer Treman Ahluwalia said: “The latest research has proven that tobacco consuming women tend to live longer than their male counterparts.” “This policy is to incentivise more and more women to understand the importance of life insurance.”

KPTP is a pure risk product that covers life at a nominal cost. A risk term policy implies that no money will be returned to the policyholder if he survives the term of the policy. It is also ideally suited for those wanting to take a policy with a sum assured greater than Rs 10 lakh, as there is no restriction on the amount of sum assured in this plan.

The premium payment can be single or regular. In case one chooses to pay a regular premium, it can be paid in either annual, half yearly or quarterly instalments.

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