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
Timings : 08:00 AM to 10:00 PM (Monday to Saturday) (excluding public holidays)

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

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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: 107N123V07, 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/23-24/E-WEB/2329

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: 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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Kotak Assured Pension

How it works

Key Features

Immediate Annuity

Deferred Annuity

Eligibility

Entry age for Nominees of deceased KLI Pension Plan policyholders (Last Birthday)

Premium

Premium Payment Option