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A plan that offers guaranteed income for your future goals.

Kotak T.U.L.I.P

A plan that works like a term plan, and Earns like ULIP Plan.

Kotak Assured Savings Plan

A plan that offer guaranteed returns and financial protection for your family.

Kotak Assured Pension

A plan that offers immediate or deferred stream of income

Kotak Lifetime Income Plan

Retirement years are the golden years of life.

Kotak Guaranteed Savings Plan

A plan that offers long term savings and life cover.


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Retirement and Annuity Plans

Online Savings Plan - Kotak Life

Take care of yourself even in retirement

You like to live life king size. Why should that change when you retire and have all the time to enjoy the thrills of life? Choose a Retirement Plan and instead of limited possibilities, open your doors to limitless fun and security.

  • A sense of self-reliance

  • Relaxed retired life

  • Assurance of savings

  • Emotional wellbeing

Retirement planning refers to a multi-step process of defining retirement income goals and the strategy required to achieve the said goals. In general terms, retirement planning involves making financial strategies to save, invest and distribute money for your sustenance and survival during retirement.

Why do You Need a Good Retirement Plan?

Retirement planning is not limited to assets and income. It includes a holistic evaluation of these, along with future costs, liabilities and overall life expectancy. Ideally, it is a life-long process, which can be started at any time. However, it is always best to plan your retirement years well and much in advance.

  • Tackle impending medical emergencies: As you age, health problems only increase. This means you would be required to shell out more money towards medical expenses later in life. The inflation rate is predicted to rise by nearly 14-15% each year in this space. So, your savings should also grow at the same rate to match the inflation.
  • Effectively combat inflation in the future: Inflation is a sad reality, and in a country like India, inflation is expected to cross standard 5% estimate. This would imply that by the time you retire, your savings would be worth much less in comparison to the present times. A robust retirement plan will ensure that you do not outlive your reserves and have a strong purchasing power even in retirement.
  • Substitute the lack of state sponsorships: Unlike the UK and the U.S., there are no specific pension or other retirement plans that Indian government offers to retirees of the private sector. Hence, after retirement, you have to take charge of your livelihood.

What are the Benefits of Retirement Planning?

Retirement planning is a crucial process to ensure you enjoy the non-working years of your life. For this, you need to invest in a reliable retirement plan so that you are secured for life.

  • Peace of mind and well-preparedness: A well-planned retirement reduces your stress and also makes you more prepared for uncertainties and emergencies, including medical crises. It provides you with a sense of self-reliance and makes your golden years more relaxed.
  • Assurance of savings and steady retirement income: Planning adequately for retirement ensures you have substantial savings to support your standard of living during a time when you do not have a steady source of income.
  • Secure property and assets: Without a strong retirement plan, you would more be inclined towards selling off assets and properties to manage your expenses later. However, building a retirement fund will safeguard your assets and property, and allow you to pass it on as a legacy to your children.
  • Effective transition from working to non-working mode: An in-depth retirement plan helps you transition smoothly from a working force to a non-working force. You would be in a more secure place and can move on in life easily.
  • Reduction in taxes in later years of life: Retirement planning helps you reduce taxes that you would otherwise be liable to pay during retirement. A good retirement plan can also help you to minimise liabilities and taxes for the beneficiaries.
  • Minimise costs with lower premiums at a young age: A retirement plan made in the younger years helps you plan and save better. You would be likely to pay lower premiums, and thus, have better chances to save and grow funds.
  • Provides guaranteed^ monthly income: Pension plans offer a fixed income in retirement in exchange of investments made today. This allows you to not only make the most of your hard-earned income but also gives you enough flexibility.
  • Facilitate encashing on the long-term investment benefits:Retirement plans are long-term plans, and depending on the annuity option you choose, your annuity rates will be decided It allows you a steady income in retirement, helping you live a stress-free life.
  • Offer flexibility in payment of premiums: Retirement plans in India allow you to either invest a lump sum and get immediate annuity receipts or select a deferred plan that allows you to pay the premium and decide when you want to start receiving the regular income from.
  • Provide death benefits and riders like a life insurance cover: Some pension plans offer a death benefit, where a lump sum is paid to the family or the nominee can opt to buy annuity. You can also buy additional cover through riders for selective plans and strengthen your protection. So, at a minimal cost, you can increase your coverage and avail yourself of numerous additional benefits.
  • Offer tax benefits allowing more savings: Retirement plans are eligible for tax benefit under Section 80CCC as per the Income Tax Act, 1961.

What are Retirement Plans?

Retirement plans are reliable financial security solutions, that helps you secure your future financially. The purpose of a pension plan is to safeguard the future years of life and secure a regular income after retirement. A good retirement plan can help maintain your living standard, as well as combat the rising inflation and the overall high cost of living.

What are the Features of Retirement Plan?

A pension plan is a very popular retirement tool. Some of its most significant features and benefits include:

  • Tax Efficiency: One of the most talked-about features of a retirement plan is the tax deduction that it offers. Policyholders can avail themselves of tax exemptions under different sections of the Income Tax Act, 1961.
  • Accumulation Duration: When policyholders invest in a pension plan, they accrue wealth over time to create a sizeable corpus that includes investment in addition to the gains.
  • Vesting Age: Pension plans allow policyholders to have a wide range of vesting age. The minimum age is generally 45-50 years, while the maximum can extend till 70 years. This large vesting age bracket allows policyholders to determine when they wish to receive their regular pension as per their requirements.

What are the Documents Necessary to Buy a Retirement Pension Plan?

Below are the documents necessary to buy the best retirement plan:

Requirements Document Type
Age Proof Birth Certificate
Driving License
High School Certificates
Aadhar Card
Identity Proof Aadhar Card
PAN Card
Driving License
Address Proof(any one) Passport
Driving License
Telephone Bill-latest within 6 months
Electricity Bill-latest within 6 months
Aadhar Card
Income Proof(any one) Latest Salary Slip-3 month Bank Account Statements of latest 6 months-- only if salary credit is reflecting with employer name Income Tax Return (ITR) documents of last 3 years
Medical Condition Proof In some cases, insurers demand recent medical reports before purchasing the retirement plan.

Retirement Plans from Kotak Life

Kotak Life offers retirement plans so that you are assured of a relaxed retired life. The assured returns and host of features guarantee^ complete financial and mental well-being in your golden years.

Let us look at the four Kotak Life retirement plans:

  • Kotak Premier Pension Plan:

  • This is a traditional participating pension plan that offers assured benefits on the vesting or death of the policyholder. The basic features of the plan are:

    • Avail a percentage of the basic sum assured as Guaranteed^ Additions in the first 5 policy years, which will be payable either on vesting or on death (whichever is earlier).
    • Bonuses will start accruing from the 6th policy year.
    • Enjoy an assured benefit of 105% of the total premiums paid on death or vesting.
    • Two riders to further boost your protection – Kotak Accidental Death Benefit Rider and Kotak Permanent Disability Benefit Rider.
  • Kotak Assured Pension:

  • This is an Annuity Plan that promises to pay a regular stream of income on a regular basis:

    • Choice of annuity options: Immediate or Deferred
    • Higher Annuity rates for the higher purchase price
    • Issued annuity rates are guaranteed^ for a lifetime
  • Kotak Saral Pension

  • This is an Annuity Plan that gives you the assurance of a regular stream of income throughout your lifetime:

    • Issued Annuity rates are guaranteed^ for a lifetime.
    • Life Annuity with Return of 100% of purchase price

Kotak Life Time Income Plan


  • 6 Plan Options
  • Tax benefits^
  • Higher annuity rates for higher purchase price
  • 4 Annuity Modes

Ref. No. KLI/23-24/E-BB/1052



  • 1. What are Retirement Plans?

  • 2. How do Retirement Plans Work?

  • 3. Why Should I Invest in a Retirement Plan?

  • 4. What is a Pension Plan? 

  • 5.I have Invested in a Provident Fund. Should I Still Buy a Retirement Plan?

  • 6. Why do I Need to Include a Retirement Plan in my Long-Term Financial Plan?

  • 7. Can I Invest in Multiple Retirement Plans at a Time?

  • 8. Can I Avail Tax Benefits with a Retirement Plan?

  • 9. What Happens to the Retirement Plan after the Policyholder’s Death?

Tax Benefits & Disclaimers:

You may avail of tax benefits under Section 80C and Section 10(10D) of Income Tax Act, 1961 subject to conditions as specified in those sections. Tax benefits are subject to change as per tax laws. Customer is advised to take an independent view from tax consultant.

Tax Benefits & Disclaimers:

Kotak Lifetime Income Plan; UIN: 107N103V08, Form No: N103 This is a non-participating immediate annuity plan. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale.

Kotak Premier Pension Plan UIN: 107N094V02, Form No: N094. This is a Participating non-linked Pension Plan. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.

Kotak Assured Pension UIN: 107N123V03, Form No: N123. This is a non-linked, non-participating annuity plan. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.

Kotak Saral Pension; UIN: 107N124V01, Form No: N124. This is a single premium non-linked non participating individual immediate annuity plan. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.

For more details on riders, please read the Rider Brochure.

^Guaranteed benefits due under this plan are available provided premiums are paid regularly for the entire premium payment term and the policy is in force.

Kotak Mahindra Life Insurance Company Ltd.

Reg No. 107 | CIN : U66030MH2000PLC128503

Regd. Office: 8th Floor, Plot # C- 12, G- Block, BKC, Bandra (E), Mumbai – 400051, Toll Free: 1800 209 8800

Website: | WhatsApp: 9321003007 | Email: | Ref. No. KLI/22-23/E-WEB/1250


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.

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

Section 41-

Extract of Section 41 of the Insurance Act, 1938 as amended from time to time states: (1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer. (2) Any person making default in complying with the provisions of this section shall be liable for a penalty which may extend to ten lakhs rupees.

Section 45-

Fraud and Misstatement would be dealt with in accordance with provisions of Section 45 of the Insurance Act, 1938 as amended from time to time. Please visit our website for more details: Read more about section38_39_45_of_insurance_act_1938

Related Insurance Plans

Browse through the following plans to know more

  • Kotak Premier Pension Plan

    Kotak Premier Pension Plan helps you accumulate enough wealth for your retirement, while you are earning sufficiently and also offers assured benefits on death and vesting.

  • Kotak Saral Pension

    A single premium non-linked and nonparticipating individual immediate annuity plan that gives you the assurance of regular stream of income throughout your lifetime.

  • Kotak Assured Pension

    Kotak Assured Pension is an annuity plan that promises to pay a regular stream of income on immediate basis or post deferment period for life, ensuring a worry-free retirement.

  • Kotak Lifetime Income Plan

    Kotak Lifetime Income Plan gives you the assurance of your income continuing throughout your life and in your absence throughout the lifetime of your spouse!

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