Kotak Lifetime Income Plan

A Non-Linked Non-Participating Immediate 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.

To ensure that you enjoy financially secure retirement years and fulfill your desires Kotak Life Insurance presents Kotak Lifetime Income Plan – A non-linked and non-participating immediate annuity plan that gives you / your members the assurance of regular stream of income throughout life.

Key Features

Ensure financial independence post retirement
Provides regular payouts to meet your post-retirement financial needs.
Offers a wide range of income options suiting different retirement needs
Plan has six annuity options to suit various customer needs. You can choose the option that suits you best.
Allows a range of annuity payout frequencies
Monthly, quarterly, half-yearly and yearly income payment modes are offered to suit your financial needs.

Eligibility

Age criteria

		Min	Max
Entry Age (Last Birthday)	Annuitant		99 Years
	For New Individual Customer	45 years
	For New Group Customer	35 years
	For Existing KLI Pension Plan / Existing Group Customers	18 years
	For NPS Subscribers	18 years
	For QROPS customers	55 years
	For Policies sourced through POS	40 years	70 years
	Spouse		99 Years
	For New Individual Customers	35 years
	For New Group Customers	35 years
	For Existing KLI Pension Plan / Group Customers	18 years
	For NPS Subscribers	18 years
	Nominees of Deceased KLI Pension Plan Life Insured and NPS Subscriber	0 years

Single Premium

Min: Any amount that ensures minimum

monthly annuity of Rs. 1000 (per member for Superannuation Fund)

Max: No Limit

Note: The minimum monthly annuity of Rs 1000 is not applicable for Additional Annuity & NPS Subscribers
Minimum Annuity

Monthly: Rs. 1,000

Quarterly: Rs. 3,000

Half-Yearly: Rs. 6,000

Yearly: Rs. 12,000

Note: The minimum monthly annuity of Rs 1000 is not applicable for Additional Annuity & NPS Subscribers
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

New Customers are customers who intend to purchase the annuity plan separately and not using the proceeds of any of the Kotak Life’s Pension Plans / Superannuation fund(s)

Need help for paying premium?

Call on toll free number 1800 209 8800(8:00 am to 10:00pm)

Call our toll free number and our representative will help you buy the most suitable term insurance plan.

Get details of your policy on our WhatsApp

Say "Hi" to 93210 03007

Get in touch with our Customer Care team

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Read about Tax benefits & Plan Disclaimer

Tax Benefits & Disclaimers

You may avail of tax benefits under Section 80CCC of Income Tax Act, 1961. Income paid by the annuity is taxable in the hands of the customer. Taxes applicable are subject to change in tax laws. Tax laws are subject to amendments from time to time. Customer is advised to take an independent view from tax consultant

Terms & Conditions:

This is a non-linked 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 Lifetime Income Plan UIN: 107N103V14, Form No: N103.

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 | Ref. No. KLI/23-24/E-WEB/2525

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

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