There is more bad news for men who consume tobacco. OM Kotak Mahindra Life Insurance has unveiled Kotak Preferred Term Plan (KPTP), a first-of-its-kind cover in India which can only be purchased by men who do not consume tobacco in any form. Moreover, a term insurance cover from OM Kotak for smokers or those who chew tobacco would cost 35 per cent more.
For women, however, the insurer has made an exception and even tobacco consuming women are eligible to purchase the KPTP, a pure risk cover.