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Kotak Assured Income Plan provides an additional guaranteed stream of income every year for the next 15 years. This plan also provides life cover throughout the policy term, so your family’s future is secured against uncertainties.BUY NOW
In the event of death of the life insured during the term of the policy, Sum Assured on Death is payable to the nominee. Sum Assured on Death is higher of Guaranteed Maturity Benefit or 106% of Basic Sum Assured.
Assured Annual Income payouts terminate on the death of the life insured.
Assured Annual Income
This plan provides assured annual income for a period of 15 years, provided the policy is in-force and you survive through the policy term. This payout starts from the end of 15th policy year and it is 9.10%/9.60%/10.10% of basic sum assured for premium bands of Rs 15000 to Rs 29,999/Rs 30,000 to Rs 74,999/Rs 75,000 & above,respectively.
Guaranteed Maturity Benefit
On completion of the policy term, a lump sum benefit of 104% to 110% of the basic sum assured is payable and this payout depends on age at entry.
The maximum loan amount that can be availed is up to 80% of the acquired surrender value, subject to minimum loan amount of Rs 10,000.
This policy acquires a Guaranteed Surrender Value after payment of all the due premiums for at least three full policy years.
This policy provides tax benefits under section 80C & 10 (10D) of the Income Tax Act, subject to amendment in tax laws.
|Age (as on last birthday)||0 Years||60 Years|
|Age at Maturity||-||90 Years|
|Policy Tenure||30 Years (fixed)||-|
|Premium Paying Term||10 Years||-|
|Premium Paying Mode||Annually, Semi Annually, Quarterly & Monthly||-|
|Premium Amount||Rs 15,000 Per Annum||No Limit|
|Basic Sum Assured||10 Times Of Annual Premium||-|
|Freelook Period||15 Days/30 Days (for Distance Marketing Channel) From The Receipt Of The Policy||-|
|Grace Period||30 Days (15 Days For Monthly Mode)||-|
Following riders can be opted, on payment of additional rider premium.
Raman at 30 years, wants to buy Kotak Assured Income Plan to get regular money backs along with life protection. He opts the plan with the policy term of 30 years, basic sum assured of Rs 2 Lacs with annual premium of Rs 20,000.
Scenario A: Raman Survives the Policy Term
If Mr. Raman survives till the maturity of the policy term, he receives 104% to 110% of the basic sum assured, depends on age at entry. This maturity benefit helps meet your financial objectives.
Scenario B: Raman dies during the Term of the Policy
In the event of demise of Mr. Raman during the policy term, Rs 2 Lacs as Sum Assured on Death is payable to the nominee. The death benefit provides a financial cover to the nominee/family.