Mumbai, September 24, 2026: Kotak Mahindra Life Insurance Company Limited (“Kotak Life”) and Policybazaar have announced the launch of Kotak Protect Advantage, a term insurance plan designed to help individuals secure their families’ financial future through a flexible and comprehensive protection solution. The product offers high life cover along with customer-centric features to address evolving protection needs at different stages of life.
Amit Palta, Deputy Managing Director, Kotak Life, said, “The future of life insurance lies in offering solutions that are relevant to different customer segments. At Kotak Life, we work closely with our partners to understand customers’ specific needs, preferences and financial priorities, and translate these insights into meaningful product innovation. Kotak Protect Advantage is a result of this approach, designed to address the needs of today’s younger generation and digitally savvy customers.”
Vivek Jain, Chief Business Officer, Policybazaar, said, “Term insurance should evolve in line with the realities of people’s lives. As individuals move through different life stages, their financial responsibilities and protection needs change. We are pleased to partner with Kotak Life to bring Kotak Protect Advantage to the Policybazaar platform. The product offers features designed to support customers at different stages of their journey. These include the option to increase cover at key milestones without additional medical tests, take premium breaks, receive an immediate payout of ₹2 lakh upon intimation of a claim, and access health and well-being benefits. These features make the plan adaptable to customers’ changing needs.”
Younger consumers are approaching financial planning differently from previous generations. Accustomed to personalised choices on digital platforms, they increasingly seek flexibility, convenience and greater control over their financial decisions. This shift is creating opportunities for life insurance companies to develop products tailored to the specific needs and expectations of different customer segments.
Recognising these evolving expectations, Kotak Life and Policybazaar have collaborated to introduce Kotak Protect Advantage, combining Kotak Life’s expertise in protection with Policybazaar’s understanding of digitally savvy consumers. The product aims to offer a solution aligned with customers’ financial priorities and changing protection requirements.
Kotak Protect Advantage offers customers a choice of two plan options and two payout options, allowing them to select coverage based on their individual protection requirements and their family’s needs. The product also includes several features designed to provide flexibility and value, such as a Premium Break Benefit, Milestone Upgrade Option, Accelerated Terminal Illness Benefit, and Special Exit Benefit with Return of Premium.
For more information on risk factors, terms and conditions, customers are advised to carefully read the sales brochure before purchasing the product.
