Kotak Assured Pension
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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.
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
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Step 1
Choose between Immediate/Deferred Annuity basis your requirement
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Step 2
Choose the Annuity Option as per your requirement
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Step 3
In case of Deferred Annuity, choose Deferment Period
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Step 4
Choose the Annuity Payout Frequency
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Step 5
Choose the Premium Payment Term and Premium Payment Frequency
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Step 6
Provide your Age and Pay the Premium
Key Features
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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
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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 Annuitant or Surviving Annuitant during & after the Deferment Period
- Issued Annuity Rates are guaranteed for lifetime
- Higher Annuity Rates for Higher Premium
Eligibility
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Primary & Secondary Annuitant Minimum Entry Age Immediate Annuity Options Deferred Annuity Options New / Existing Individual Customers / New Group Customers 40 years 40 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 The maximum age difference allowed between Primary & Secondary Annuitant is 30 years.
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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![Eligibility]()
Premium
Min: Any amount that ensures minimum monthly annuity of ₹1000 for the chosen annuity option to an annuitant / member of the superannuation scheme*.
NPS subscribers / customers using proceeds of any existing KLI Pension Plan or Superannuation Fund shall have no restriction on minimum monthly annuity payout.
Max: No Limit.
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Premium Payment Option
Immediate & Deferred Annuity Options (Except Option 7): Only Single Pay is allowed
Option 7: Deferred Income with Cash-Back: Single / Limited / Regular Pay is allowed
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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)
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Deferment Period
Single Pay: 1 – 10 years
Regular / Limited Pay: 5 – 10 years
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Premium Payment Frequency
You will have the flexibility to pay premium yearly or half yearly or quarterly or monthly. The below mentioned modal loading will be applicable when you have opted for any premium payment mode other than yearly.
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
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Minimum Annuity*
Monthly : ₹1,000 || Quarterly : ₹3,000
Half-Yearly : ₹6,000 || Yearly : ₹12,000
*No minimum annuity requirement for NPS subscribers / customers using proceeds of any KLI Pension Plan or Superannuation Fund.
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Annuity Modes
Yearly, Half-yearly, Quarterly, Monthly
![Eligibility]()
Annuity Installment
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.
Need help with life insurance?
Request a Life Advisor
Get details of your policy on WhatsApp
Send a 'Hi' to 93210 03007 from your registered mobile number.
Get in touch with our Customer Care team for assistance
Call our toll-free number 1800 209 8800
(for retail or individual customers only). Timings : 08:00 AM to 10:00 PM (Monday to Saturday, excluding public holidays)
Our representatives are available to assist you with all your queries.
For NRI Customers
Contact No: +912267775000
Important Information:
*Call Charges Apply
Call Center Timings- 8am to 10pm(Monday to Saturday as per IST)
Get answers to the frequently asked questions.
Read about Tax benefits & Plan Disclaimer
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 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:107N123V10
This is a non-participating, non-linked, general annuity product 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 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/24-25/E-WEB/1400
Trade Logo displayed above belongs to Kotak Mahindra Bank Limited and is used by Kotak Mahindra Life Insurance Company Ltd. under license.
Customer Care:
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