|
|
 |
|
| Home> For
Individuals> Retirement Plans> Kotak Retirement Income (Unit
Linked) |
|
|
| In this policy, the
investment risk in the investment portfolio is borne
by the policyholder |
| Overview |
| You work hard to ensure
that you and your family lead a comfortable life
today. But have you ensured the same for the days
when you will not be working? By the time you retire,
costs of living would have increased substantially
making even the most basic commodities like milk
and vegetables costlier by probably five times.
Medical costs would have doubled or more. How well
you save and invest today will make all the difference
tomorrow. |
|
|
| Kotak Retirement Income
Plan is an ideal retirement solution that gives
you complete flexibility and peace of mind, not
only while you save for your retirement but also
after you retire. The many fund options available
ensure that you make handsome gains on your income
and the Guaranteed Maturity Value ensures that your
retirement corpus remains intact against any market
vagaries. |
Kotak Retirement Income
Plan comes in three variants:
- Kotak Retirement Income Plan - Without
Cover
- Kotak Retirement Income Plan - With Cover
- Kotak Retirement Income Plan - Single Premium
|
|
|
 Advantages |
- Enjoy unlimited upside with capital preservation
- Choice of five fund options
- Ill-health early retirement benefit
- Tax-free switching to help you maximize returns
- Accumulate more by way of Top-Up Contributions
|
|
|
| Key
Features |
 Wealth
Maximization Avenue |
| Kotak Retirement Income
Plan is a market linked plan with a choice of five
fund options to balance your risk profile with the
tenure of your investment Pension Balanced; Pension
Bond; Pension Gilt; Pension Floating Rate; and Pension
Money Market. Our financial acumen & expertise would
ensure that your money works harder even when you
have stopped working. |
 Flexibility
to accumulate more |
| You may increase your
contributions any time throughout the term of the
policy by way of easy top-up facility.* In the event
of maturity or death, you or your beneficiary would
receive the fund value of these top-up units. |
 High
Liquidity (Maturity Benefit) |
| On retirement (vesting
age), you may withdraw upto one-third of the total
amount in your policy account (depending upon the
plan option chosen); and buy an annuity from the
rest of your choice from Kotak Life Insurance any
other insurer. |
 Plan
Options |
Without
Cover |
With
Cover |
Single
Premium |
| Withdraw upto one-third of the total
amount of (a+b) as a lump sum in cash |
a.
Sum Assured^ or fund value in Main Account,
Whichever is higher; |
a.
Basic Sum Assured^ or fund value in
Main Account, whichever is higher; |
a.
The fund value in Main Account; |
|
b.
The fund value in Top-Up Accounts. |
b.
The fund value in Top-Up Accounts. |
b.
The fund value in Top-Up Accounts. |
| Two-third balance of the accumulated
amount |
Buy an annuity of your
choice from Kotak Life Insurance or
any other insurer. |
|
|
 Protection
for your family (Death Benefit) |
| In the unfortunate event
of death, your beneficiary would receive the benefit
proceeds as per the plan option chose. |
| Plan
Options |
Without
Cover |
With
Cover |
Single
Premium |
| Death Benefit |
The fund value in the Main Account
plus the fund value in the Top-Up Account,
if any. |
The basic Sum Assured or fund value
in the Main Account; whichever is higher
plus the fund value in the Top-Up Accounts,
if any. |
The Sum Assured (1.02 times the single
premium) or the fund value in the main
Account; whichever is higher plus the
fund value in the Top-Up Accounts, if
any. |
|
|
| The plan options also
offer the benefit of early retirement due to ill-health.
On death or retirement, one-third of the benefit
may be withdrawn as a lump sum in cash and the balance
would have to be used to buy an annuity. |
| Tax
Benefits |
| Tax Benefits can be
availed under section 80C and 10(10D) of Income
Tax Act, 1961. Section 80D of Income Tax Act, 1961will
also apply in case of Kotak Retirement Income Plan
(With Cover); if Critical Illness benefit is opted
for. Tax benefits are subject to change in tax laws.
Please consult your tax advisor for details. |
|
| Kotak Retirement Income
Plan includes with cover, without cover, and single
premium – UIN 107L031V01 (with cover), UIN
107L033V01 (without cover) and UIN 107L032V01 (single
premium) |
|
* Subject to terms &
conditions of the policy.
^ Sum Assured is guaranteed only where premiums
are paid on time. |
|
|
| |
|
|
|
