Kotak Get Assured Income Now
A Participating Non-Linked Life Insurance Individual Savings Product
Every month you receive your primary income which helps you in meeting your daily needs and requirements. However, this income may not entirely help you meet your dreams. Be it top class education for your children or a luxurious dream vacation or going through the golden years without any financial hassles. There is always a desire to increase your monthly income so that your dreams are met even in case of some unforeseen events.
Now imagine, if you have an additional income stream which will not only help you fast-track your goals but also provide you with life cover to take care of your near and dear ones in case you are not around.
Kotak Life proudly presents “Kotak Get Assured Income Now”, a limited pay participating plan, with Income Benefits starting as early as end of 1st policy month or after the end of the premium payment term; along with the flexibility to accumulate the income benefits and create a legacy for your loved ones, as per the plan option chosen. You have multiple plan options which can be customized as per your requirement to help you plan for a better future and lead a stress-free life.
How it works
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Step 1: Choose the Plan Option, Premium Paying Term, Premium Paying Frequency, Policy Term, Income Benefit Payout mode. The premium/benefits will vary depending upon the option chosen.
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Step 2: Choose your Premium amount, basis which your Sum Assured on Maturity and Sum Assured at Death will be calculated. Sum Assured on Maturity is calculated as Annualised Premium multiplied by the Premium Paying Term and enhanced by boosters, as applicable.
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Step 3: Customize your income benefits to receive payouts yearly or monthly.
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Step 4: Choose additional riders to enhance your protection
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Mr. Rakesh aged 35 year needs a plan which offers him a regular and long term income as well as build a corpus that he can pass on as a legacy to his family. He opts for “Kotak Get Assured Income Now” with an Annual Premium of Rs. 1,00,000 for a premium payment term of 10 years. The policy term in this case is 50 years and the plan option opted is Early Income Option.
Key Features
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Life Cover:">Life Cover:
Secure your life & provide financial protection to your loved ones till 85 years.
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Multiple Plan Options:">Multiple Plan Options:
Flexibility to choose from 3 Plan Options to fulfil your goal: - Early Income - Paid-Up Additions - Premium Saver
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Early Income Payout: ">Early Income Payout:
Income benefits starting as early as end of 1st policy month$
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Optional Riders:">Optional Riders:
Comprehensive coverage for yourself & loved ones through 6 Riders*
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Enhanced Benefits for Female Life:">
Enhanced Benefits for Female Life:
Get Additional Benefit with the same premium for Female Life.
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Enhanced Benefit for ECS/Auto Debit: ">
Enhanced Benefit for ECS/Auto Debit:
Get additional benefit in case premium is paid through ECS/Auto Debit option $Depending on the plan option and bonus payout mode chosen *By paying additional premiums
Eligibility
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Entry Age& of Life Insured
Age at Entry Policy Term PPT – 6/8 years PPT – 10 years/12 years Min To Age 85 / 40 years 90 days Max To Age 85 50 years 55 years 40 years 44 years -
Maturity Age& of Life Insured
Min: 40 years
Max: 85 years
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Policy Term
85 years less Entry Age of Life Insured OR Fixed term of 40 years
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Sum Assured on Maturity (in Rs.)
Min: 4,00,000
Max: No limits, subject to Board Approved Underwriting Policy Sum Assured on Maturity shall depend on the Annualised Premium and Premium Payment Term chosen by you.
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Premium Levels (Annual) (in Rs.)
Min: 50,000
Max: No Limits, subject to Board Approved Underwriting Policy
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Premium Payment Term
6 / 8 / 10 / 12 years
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Premium Payment Mode
Yearly, Half yearly, Quarterly and Monthly
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Premium Modal Factor
Yearly – 100%, Half yearly – 51%, Quarterly – 26%, Monthly – 8.8%
&Age is calculated as age last birthday
PPT 6 is available for early income and paid up addition option.
Additional Protection with Optional Riders
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Kotak Term Benefit Rider (UIN: 107B003V03):
Allows additional death cover on the life of Primary Life Insured over and above the base plan’s Death Benefit.
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Kotak Accidental Death Benefit Rider (UIN:107B001V04):
Lump sum benefit paid on accidental death of the Primary Life Insured in addition to Death Benefit under the base plan.
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Kotak Permanent Disability Benefit Rider (UIN:107B002V03):
Instalments paid on admission of a claim on Primary Life Insured becoming disabled due to accident.
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Kotak Life Guardian Benefit (UIN: 107B012V02):
On death of Policyholder, future premiums of the plan will get waived of and the base plan will continue as it is without any change in the plan benefits.
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Kotak Accidental Disability Guardian Benefit (UIN 107B011V02):
On accidental disability of Policyholder, future premiums of the plan will get waived off and the base plan will continue as it is without any change in the plan benefits.
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Kotak Critical Illness Plus Benefit Rider (UIN: 107B020V02):
Rider Sum Assured shall be payable on admission of a claim on any one of the 37 covered critical illness, with respect to Primary Life Insured, subject to terms and conditions, definitions and specific exclusions.
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Downloads
Read about Tax benefits & Plan 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 Get Assured Income Now UIN: 107N141V02, Kotak Term Benefit Rider, UIN: 107B003V03; Kotak Accidental Death Benefit Rider, UIN: 107B001V04; Kotak Permanent Disability Benefit Rider, UIN: 107B002V03; Kotak Life Guardian Benefit, UIN: 107B012V02; Kotak Accidental Disability Guardian Benefit, UIN: 107B011V02, Kotak Critical Illness Plus Benefit Rider - 107B020V02.
This is a Participating Non-Linked Life Insurance Individual Savings Product. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. For more details on riders please read the Rider Brochure.
*The assumed non-guaranteed rates of return chosen in all above illustration are 4% p.a. and 8% p.a. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back as the value of your policy is dependent on a number of factors including future investment performance. The actual experience may be different from the illustrated. The guaranteed and non-guaranteed benefits are applicable only if all due premiums are paid. Cash Bonus and Terminal Bonus have been calculated at the assumed non-guaranteed rates of return of 4% p.a. & 8% p.a. Please note that Bonuses are NOT guaranteed and may be as declared by the Company from time to time. The above premium figures are exclusive of Goods and Services Tax and Cess, as applicable. Goods and Services Tax and Cess thereon, shall be charged as per the prevalent tax laws over and above the said premiums. The risk factors of the bonuses projected under the product are not guaranteed. Past performance doesn’t construe any indication of future bonuses. These products are subject to the overall performance of the insurer in terms of investments, management of expenses, mortality and lapses.
Kotak Mahindra Life Insurance Company Ltd. Regn. No.: 107, CIN: U66030MH2000PLC128503, Regd. Office: 8th Floor, Plot # C- 12, G- Block, BKC, Bandra (E), Mumbai - 400 051. Website: www.kotaklife.com | WhatsApp: 9321003007 | Toll Free No. – 1800 209 8800 | Ref. No.: KLI/24-25/E-WEB/713
Trade Logo displayed above belongs to Kotak Mahindra Bank Limited and is used by Kotak Mahindra Life Insurance Company Limited under License.
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