Kotak Lifetime Income Plan and Policy

• Provides financial security after retirement in that the income which is paid to the annuitant would depend on several factors such as annuitant’s age, the income option chosen in addition to the amount of single premium paid. It is important to note that the income rate is guaranteed for the annuitant’s whole life since it does not vary with market conditions.
• This plan offers various income options for different financial requirements after retirement of customers.
• Under this plan, customers can enjoy easy access to income via direct credit to their bank accounts.
• This plan offers several annuity payout frequencies for the benefit of customers such as monthly, quarterly,half-yearly and yearly payment modes.
• Customers cannot change the income option under this plan after selection.

• Lifetime Income: Under this plan, regular income for covering daily expenses will be paid till death. This option is most suitable for customers who have no dependents.
• Lifetime Income with cashback: Regular income is paid throughout life. Also, under this plan, single premium is paid back to the nominee upon death to cater to the financial requirements of the family. This option is most suitable for customers who have dependents.
• Lifetime Income with a term guarantee: Regular income for guaranteed period which can be 5, 10, 15 or 20 years is paid. Income will be paid throughout life for survival post the guaranteed period. This plan is suitable for customers who have some liabilities for a certain period of time.
• Last survivor Lifetime Income: Regular income is paid. It continues for spouse’s life after the demise of the annuitant. This option is suitable for customers who want to ensure the financial security of their spouses.

Kotak Retirement Life Insurance Plans and Policy