Kotak Assured Pension – Online Retirement Insurance Plan
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Kotak Assured Pension

A Non-linked, Non-participating, Life Insurance Annuity Plan

Retirement years are the golden years of life where you would wish to do things that you have only been planning till now or are deferring by giving them lesser priority. It’s a phase where you would want to enjoy doing what you wish without worrying about finances.

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.

The plan will be offered to Individual Customers (Including customers transferring UK tax relieved assets through Qualifying Recognised Overseas Pension Scheme i.e. QROPS), Reverse Mortgage Schemes.

How it works

  • Step 1

    Choose between Immediate/Deferred Annuity basis your requirement

  • Step 2

    Choose the Annuity Option as per your requirement

  • Step 3

    In case of Deferred Annuity, choose Deferment Period

  • Step 4

    Choose the Annuity Payout Frequency

  • Step 5

    Choose the Premium Payment Term and Premium Payment Frequency

  • Step 6

    Provide your Age and Pay the Premium

Key Features

  • Immediate Annuity

    • 8 Options to choose from
    • Flexibility to avail additional annuity payout through Top Up
    • Issued annuity rates are guaranteed for lifetime
    • Higher Annuity Rates for Higher Premium

  • Deferred Annuity

    • 2 Options to choose from
    • Option to choose Single or Regular or Limited Premium Payment Term
    • Flexibility to choose Deferment Period between 1 – 10 years basis on your annuity requirement
    • Guaranteed@ Additions accrued during the Deferment Period
    • Lump-sum amount payable on Death of Surviving Annuitant during & after the Deferment Period
    • Issued Annuity Rates are guaranteed for lifetime
    • Higher Annuity Rates for Higher Premium

Eligibility

  • Primary & Secondary Annuitant Minimum
    Entry Age Immediate Annuity Options Deferred Annuity Options
    New / Existing Individual Customers / New Group Customers 45 years 45 years
    Policy purchased as QROPS 55 years 55 years – Deferment Period (in years)
    Existing Individual KLI Pension Plan Policyholders / Member of Superannuation Fund / Existing Group Customers 18 years 18 years
    Maximum
    Annuity Options Maximum Age at Entry
    All Immediate Annuity Options except Option 6b 85 years
    Immediate Annuity Option 6b 80 years
    Deferred Annuity Options (Option 7 & 10) 70 years
  • Entry age for Nominees of deceased KLI Pension Plan policyholders (Last Birthday)

    Min: 0 years; Max: 99 years (70 years for Deferred Annuity Option 7 & 10) For nominees of existing pension policyholders,
    • “Lifetime Income with Cash-Back on Death or Critical Illness” shall not be allowed if the Nominee is less than 18 years or is above 80 years
    • Joint Life Annuity Options shall not be allowed if the Nominee is less than 18 years

  • Premium

    Min: Any amount that ensures minimum monthly annuity of ₹1000 for the chosen annuity option to an annuitant.

    Max: No Limit.

  • Premium Payment Option

    Immediate Annuity Options: Single Pay Deferred Annuity Options: Single / Limited / Regular Pay

  • Premium Payment Term

    Single Pay: One-time Payment

    Limited Pay:

    5 - 9 years (PPT should be less than Deferment Period)

    Regular Pay:

    5 - 10 years (PPT should be equal to Deferment Period)

  • Premium Payment Frequency*

    Premium Payment Frequency Modal Factor

    Yearly 100% of Yearly Annuity

    Half-yearly 51% of Yearly Annuity x 1/2

    Quarterly 26% of Yearly Annuity x 1/4

    Monthly 8.8% of Yearly Annuity x 1/12

  • Minimum Annuity

    Monthly : ₹1,000 || Quarterly : ₹3,000

    Half-Yearly : ₹6,000 || Yearly : ₹12,000

  • Annuity Modes

    Yearly, Half-yearly, Quarterly, Monthly

  • Annuity Installment (per frequency)

    Mode

    Annuity Installment (per frequency)

    Yearly

    100% of Yearly Annuity

    Half-yearly

    98% of Yearly Annuity x 1/2

    Quarterly

    97% of Yearly Annuity x 1/4

    Monthly

    96% of Yearly Annuity x 1/12

Downloads

Download the brochure to know more about the plan and how it can benefit you.

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Call on retail toll free number 1800 209 8800 - 10:00 AM to 6:00 PM (Monday to Saturday)

Call on toll free number for Group plans 1800 120 7856 - 10:00 AM to 6:00 PM (Monday to Friday)

Call our toll free number and our representatives will assist you with all your queries.

Get Answers to the commonly asked questions

Policy FAQs

Read about Tax benefits & Plan Disclaimer

Tax Benefits & Disclaimers

You may avail of tax benefits as defined under the Income Tax Act, 1961 subject to conditions as specified in those sections. Payment of Annuities, Surrender Value (if any), Benefit Payout due to Death or due to Critical Illness may be subject to taxes as per the prevailing tax laws on the date of payment and as per the Annuitant’s / Nominee / Legal Heir’s taxable income slabs. Tax benefits are subject to change as per tax laws. Customer is advised to take an independent view from tax consultant. Goods and Services Tax and Cess as applicable shall be levied over and above Total Premium as per applicable tax laws.@Guaranteed if the policy is in force and all premiums are paid in full. Annuity Rate shall be guaranteed throughout the lifetime of Annuitant/ Primary Annuitant/ Secondary Annuitant once the policy has been issued.

Terms & Conditions:

Kotak Assured Pension UIN: 107N123V04, Form No: N123. This is a non-linked, non-participating annuity plan. This website content only gives the salient features of the plan. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale. Ref. No.: KLI/22-23/E-WEB/1454

Kotak Mahindra Life Insurance Company Ltd. Regn. No.:107, CIN: U66030MH2000PLC128503;

Regd. Office: 8th Floor, Plot # C- 12, G- Block, BKC, Bandra (E), Mumbai – 400051 | Website: https://www.kotaklife.com | WhatsApp: 9321003007 | Toll Free No: 1800-209-8800

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

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS /FRAUDULENT OFFERS

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.

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