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Annuity Plan | How to Choose the Right Annuity Plan | Kotak Life

Annuity Plan - Find out the key factors to decide on choosing the best annuity plan here on this article. Visit Kotak Life to know more on annuity plan

  • Feb 16, 2021

An important part of your financial planning must be retirement planning. When you have chalked out a financial plan for your post-retirement years, you can enjoy them without a worry on your mind. With a myriad of retirement plans available in the market, choosing one becomes a tough decision.

But, one plan that stands out from the rest of the plans is the annuity plans.

What are annuity plans?

An annuity plan helps you receive regular payments after just a single lump sum investment. The company then invests the lump-sum amount provided by the policyholder, and the returns generated are provided to the policyholder. One of the biggest reasons for these plans’ popularity is that they provide you with a regular income source even in your retirement. With this plan, you have the opportunity of choosing a flexible payout option depending on your requirement.

Some of the different annuity plans are immediate annuity plan, deferred annuity plan, fixed annuity plan, variable annuity plan and lump-sum annuity plan. While the number of options available may make it difficult for you to select one, you can consider the features listed below to opt for the right annuity plan.

How to choose the right annuity plan?

You must consider the 5 features listed below to select the right annuity plan:

1. Get optimum coverage: An important factor when selecting an annuity plan is the coverage. You must opt for a plan that provides good coverage for the security of your loved ones. Your beneficiary or spouse will receive the annuity payout in the event of your demise. It will help you ensure your loved ones are financially secure in your absence.

2. Plan for easy liquidity: Emergencies do not come with a warning, which is why choosing a plan that offers a certain degree of liquidity is important. A good liquidity plan will help you in gathering funds quickly. But, it is advised that you should not use the accumulated amount.

3. Check the variability and choose accordingly: You can go for either a fixed annuity or a variable annuity plan, depending on your requirements. In a fixed annuity plan, you will receive fixed payouts regularly. In variable annuity schemes, you are provided with variable returns depending on the market conditions and the underlying assets’ performance. You must consider both options and select the ones that suit your requirements and risk appetite.

4. Check the plan’s guaranteed returns: The annuity plan’s priority is to get returns that will help you meet your financial requirements after retirement. It will be advisable to opt for a plan that offers good returns and considers the inflation rate increase.

5. Balance returns with adequate security: Since an annuity plan is a long term product, it is crucial to select a plan that offers good safety. While selecting an insurance company, you must make sure that they are in a position to meet their liabilities. It would help if you also considered different factors like the increasing inflation rate and declining interest rate.

Kotak Lifetime Income Plan

Kotak Life has introduced the Kotak Lifetime Income Plan as an immediate annuity plan to ensure that you are guaranteed a lifetime income in your golden retirement years. Additionally, your spouse is also guaranteed a lifetime income in your absence. With six annuity options and flexible annuity payment modes, you can choose an annuity plan that complements your financial needs and goals.



IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

Kotak Lifetime Income Plan: UIN: 107N103V06, Form No.: N103, This is a non-participating immediate annuity plan. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.

Kotak Mahindra Life Insurance Company Ltd. CIN: U66030MH2000PLC128503, Regn. No.:107, Regd. Office: 2nd Floor, Plot # C-12, G- Block, BKC, Bandra (E), Mumbai - 400 051. Website: | | Toll Free No.: 1800 209 8800 | Ref. No.: KLI/21-22/E-WEB/504

Trade Logo displayed above belongs to Kotak Mahindra Bank Limited and is used by Kotak Mahindra Life Insurance Company Ltd. under license.

In this policy, the investment risk in the investment portfolio is borne by the policyholder.

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- A Consumer Education Initiative series by Kotak Life

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