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Kotak Assured Income Plans is one of the many insurance plus investment plans offered by Kotak Life Insurance. This plan is an individual plan that is available to resident Indians and can be bought online or offline at the convenience of the customer.

The eligibility for this plan and other details are mentioned below.

Eligibility and basic details

Particulars

Details

Entry age 

  • No minimum age to enter
  • The maximum entry age is 60 years

Maximum maturity age

90 years

Policy term

Up to 30 years

Premium 

  • Minimum premium to be paid – Rs. 15,000 p.a.
  • Maximum premium to be paid – no Limit

Premium payment tenure

10 years

Basic sum assured

10 times of annual premium paid

Premium modal factor

Premium instalment calculation modal

Yearly – 100%

Half-Yearly – 51%

Quarterly – 100%

Monthly – 100%

Benefits

Some of the benefits of this plan include maturity benefits, death benefits, etc. The details of the same are benefits offered under the plan are mentioned below.

Particulars

Details

Maturity benefits

  • Guaranteed maturity benefits at the end of 30th year in addition to assured annual income payouts
  • The lump-sum amount depends on the entry age of the customer and is between 104% to 110% of the basic sum assured.

Assured annual payouts

For 15 years from the end of the 15th year (provided the policyholder is alive through the policy term and the policy is still active).

Death benefits

Higher of,

  • Guaranteed maturity benefit
  • 106% of the basic sum assured

Tax benefits

Tax benefits under section 80C and section 10(10D)

Final Thoughts

Kotak Assured Income Plan is a good way to secure the future of the family along with getting the benefit of assured income. The plan has many benefits that make it an attractive option for the customers.

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