Kolkata: Kotak Mahindra Old Mutual Life Insurance (KMOMLI) Limited, a joint venture between Kotak Mahindra Bank and London-based Old Mutual plc is mulling to unveil a standalone health insurance product in the first half of 2008-09.The health insurance that they are going to unveil will be probably in the form of a Unit Linked Insurance Plan (ULIP) and is likely to offer cashless transcation facility to the subscribers. The new health insurance product will also give an option to the subscribers for infusing in equity but it will not exceed 50 per cent. At present, Kotak does not have a full-fledged health insurance product but has health covers for disabilities, critical illness and major surgeries. These health covers come in the form of rider with Kotak''s Life insurance products to those subscribers who pay an extra premium for them. Kotak Life Insurance which now has 110 branches in India is also aiming to expand its pan-India network to over 200 branches by March 2009.
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