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Pension plans from Kotak Life insurance can ensure that an individual has a stable income post-retirement. The plans are designed such that the income flow is unaffected by stock market volatility or fluctuations in interest rates. These plans offer guaranteed monthly, quarterly, semi-annual, or annual annuity to cover the investor’s expenses during retired life. One of the offerings under the pension plan umbrella of Kotak life insurance is the Kotak e-lifetime Income plan.

What is Kotak e-Lifetime Income Plan?

One can apply for this pension plan online to get a regular income during retired life. The minimum entry age for the plan is 45 years and the maximum entry age is 55 years. The plan requires a lump-sum amount to be invested for enjoying returns throughout the plan tenure.

Kotak life insurance pension plans provide regular income through the investor’s retirement years. These plans come with four annuity options that can be chosen as per individual requirements. Here are additional details of these plans:

  • People with no dependents can invest in an e-Lifetime Income plan to get a regular income until death.
  • The plan offers lifetime income with cashback for customers who have dependents. The dependents get the initial lump-sum amount in case of the insured’s death.
  • For people who have liabilities, Lifetime Income with a term guarantee is an ideal choice. This plan ensures a regular income for the term (example - 5/10/15/20 years) selected. This continues even after the end of the term period till the time the insured person is alive.
  • The last survivor lifetime income plan is meant for people who have a dependent. This plan gives a regular income throughout the insured’s life and continues even after the demise of the life insured.

Retirement planning is essential and it can get an additional boost by investing in smart pension plans offered by Kotak life insurance.

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