Kotak Lifetime Income Plan

A Non-Participating, Non-Linked, General Annuity Product

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 one of its thoughtfully designed retirement plans. It is a – A Non-Participating, Non-Linked, General Annuity Product that gives you / your members the assurance of regular stream of income throughout life.

Key Features

Ensures financial independence post retirement

Provides regular payout 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 anuuity payout frequencies

Monthly, quartely, haly-yearly and yearly income payment modes are offered to suit your financial needs.

Eligibility

Entry Age (Last Birthday)
Single Premium
Minimum Annuity
Annuity Modes
Annuity Installment (per frequency)

Entry Age (Age as on last birthday)

		Minimum	Maximum
Entry Age (Last Birthday)	Annuitant
	For New Individual Customers	40 years	99 years
	For New Group Customers	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
	For New Individual	35 years	99 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

Minimum: Any amount that ensures minimum monthly annuity of ₹1000 (per member for Superannuation Fund)
Maximum: No Limit

Note: The minimum monthly annuity of ₹ 1000 is not applicable for Additional Annuity & NPS Subscribers and Nominees of Deceased NPS Subscribers

Monthly: ₹ 1,000

Quarterly: ₹ 3,000

Half-Yearly: ₹ 6,000

Yearly: ₹ 12,000

Note: The minimum monthly annuity of ₹ 1000 is not applicable for Additional Annuity & NPS Subscribers and Nominees of Deceased NPS Subscribers

Yearly / Half-yearly, / Quarterly / Monthly

Mode	Annuity Installment (per frequency)
Yearly	100% of Yearly Annuity
Half-yearly	98% of Yearly Annuity × 1/2
Quarterly	97% of Yearly Annuity × 1/4
Monthly	96% of Yearly Annuity × 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)

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

IRDAI or its officials do not involve in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

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.

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Frequently Asked Questions:

What is Kotak Lifetime Income Plan?

Kotak Lifetime Income Plan is a non-linked, non-participating general annuity plan that provides a guaranteed regular income for life in return for a one-time premium, helping ensure financial stability during retirement.

When does the annuity payout begin?

Annuity payouts start immediately after policy issuance, based on the chosen frequency—monthly, quarterly, half-yearly, or yearly—and continue as per the selected annuity option.

What annuity options are available under this plan?

The plan offers six annuity options, including lifetime income, income with cash-back, income with guaranteed term, and joint life options that provide continued income to the surviving spouse.

Are annuity rates guaranteed for life?

Yes, once the policy is issued, the annuity rates are guaranteed for life and remain unaffected by market changes, ensuring predictable and stable retirement income.

Is there a death benefit in Kotak Lifetime Income Plan?

Death benefits are available only under selected options. Plan options with cash-back features pay the total premium paid (excluding taxes) to the nominee, while other options focus solely on lifelong income.

Can I surrender the policy after purchase?

Surrender is allowed only for specific annuity options. If applicable, a guaranteed surrender value is paid, after which the policy terminates and annuity payouts stop.

What are the tax benefits under this plan?

Premiums may qualify for tax benefits under Section 80CCC, while annuity income and death benefits are taxable as per prevailing income tax laws and applicable slabs.

Kotak Lifetime Income Plan UIN: 107N103V20.

This is a non-participating, non-linked, general annuity product. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.

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/25-26/E-WEB/2014.

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