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Kotak Mahindra Life Insurance launched a unit-linked insurance plan (Ulip) last week called TULIP. Ulips offer a combination of life cover and investment funds. Piyush Trivedi, joint president, head alternate channel and digital channels, Kotak Mahindra Life Insurance, says, “Our plan offers life cover up to 100 times the annual premium while offering market-linked returns on the amount invested.” Most Ulips offer a life cover of around 10 times the annual premium.
How Ulips work
The premium paid by the policyholder is split into two parts. Naval Goel, chief executive officer (CEO), PolicyX, says, “One part pays the mortality charge for
