Kotak Lifetime Income Plan

Kotak Lifetime Income Plan

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

Retirement years are the golden years of your life where you wish to do things that you have only been planning till now or defer your plans by moving them down the priority list It’s a phase in your life where you want to enjoy doing what you wish without worrying about your finances.

To ensure that you enjoy a financially secure retirement and are able to fulfill your desires Kotak Life Insurance presents Kotak Lifetime Income Plan - A Non-Participating, Non-Linked, General Annuity Product that gives you / your members the assurance of a regular income stream of income

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 annuity payout frequencies

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

How does the plan work?

Eligibility

Entry Age (Last Birthday)

	Min	Max
Annuitant		99 years
For New Individual Customers	45 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		99 years
For New Individual	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 ₹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 and Nominees of Deceased NPS Subscribers

Minimum Annuity

Monthly: ₹1,000

Quarterly: ₹3,000

Yearly: ₹12,000

Half-Yearly: ₹6,000

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

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.

Kotak Lifetime Income Plan, UIN: 107N103V18. 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. 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.

This website content only gives the salient features of the plan.

Kotak Mahindra Bank Ltd. is a corporate agent of Kotak Mahindra Life Insurance Company Limited with Corporate Agency License No: CA0250. Regd. Office: 27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400051. The plan is offered and underwritten by Kotak Mahindra Life Insurance Company Limited.

Participation by Kotak Mahindra Bank Ltd.’s customers to buy insurance policy is purely voluntary and there is no direct or indirect linkage between the provision of banking services offered by Kotak Mahindra Bank Ltd. to its customers and products/services offered by Kotak Mahindra Life Insurance Company Ltd. Insurance products/services are obligations of Kotak Mahindra Life Insurance Company Ltd and are not guaranteed by Kotak Mahindra Bank Ltd. Kotak Mahindra Life Insurance Company Ltd. shall be liable or responsible for all matters arising out of or pertaining to the insurance products/ services offered by it.

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: www.kotaklife.com | WhatsApp: 9321003007 | Toll Free No: 1800-209-8800 | Ref. No.: KLI/25-26/E-WEB/328.

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