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 nonparticipating immediate annuity plan that gives you / your members the assurance of regular stream of income throughout life.

Key Features

Ensures 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
- Minimum: New customers*: 45 years / 55 years#
- Existing KLI Pension Plan Policy Holders: 18 years
- Maximum: 99 years
#For policy purchased as QROPS through transfer of UK tax relieved assets

*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)
Entry age for nominees of deceased KLI pension plan policyholders (last birthday)

Minimum: 0 years

Maximum: 99 years
Spouse entry age* (last birthday) (applicable for options 4, 5 & 6)

Minimum: New customers*: 35 years

Existing KLI Pension Plan Policy Holders: 18 years

Maximum: 99 years

*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)
Single Premium

Minimum: any amount that ensures minimum monthly annuity of Rs.1000 (per member for superannuation fund)

Maximum: no limit
Minimum Annuity

Monthly : Rs. 1,000

Quarterly : Rs. 3,000

Half-yearly : Rs. 6,000

Yearly : Rs.12,000
Annuity Modes

Yearly, Half-yearly, Quarterly, Monthly

Annuity Instalment (per frequency)

Mode	Annuity instalment (per frequency)
Yearly	100% of yearly annuity
Half-yearly	97% of yearly annuity x 1/2
Quarterly	96% of yearly annuity x 1/4
Monthly	95% of yearly annuity x 1/12

Downloads

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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 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.

Kotak Lifetime Income Plan UIN: 107N103V08, Form No: N103, Ref. No.: KLI/21-22/E-WEB/1469

Kotak Mahindra Life Insurance Company Ltd

Regn. No.:107, CIN: U66030MH2000PLC128503;

Regd. Office:

8^th Floor, Plot # C- 12,

G- Block, BKC, Bandra (E),

Mumbai – 400051;

Website: https://www.kotaklife.com ; WhatsApp: 9321003007 ; Toll Free No: 1800-209-8800

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.

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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Kotak Lifetime Income Plan

Key Features

Ensures financial independence post retirement

Offers a wide range of income options suiting different retirement needs

Allows a range of annuity payout frequencies

Eligibility

Age criteria

Entry age for nominees of deceased KLI pension plan policyholders (last birthday)

Spouse entry age* (last birthday) (applicable for options 4, 5 & 6)

Single Premium

Minimum Annuity

Annuity Modes