Kotak Assured Income Accelerator

Kotak Assured Income Accelerator

A non-participating guaranteed@ income anticipated endowment insurance plan

Let your savings accelerate your income. Whether you are an entrepreneur, an employee or a professional, you work hard to improve your performance, resulting in increased income year on year. Even with your savings, you expect to fetch a value that increases with every passing year. Kotak Assured Income Accelerator offers a unique way to get risk free returns. It ensures that you get Guaranteed Income every year on the same amount of savings and that your Guaranteed Income increases year on year - a plan that truly grows with your savings!

How it works

Mr. Sharma is a 35 years old Government employee

He chooses an annual premium of Rs. 60,000/-* for a premium payment term of 15 years and a policy term of 30 years which helps determine Basic Sum Assured and Guaranteed Income

He pays premiums every year for the selected premium payment term

After premium payment term of 15 years expires, he gets Guaranteed Income starting at Rs. 78,000/- at the end of the 16th policy year, gradually increasing during Payout Period

At the age of 65, the plan matures and Mr. Sharma enjoys the last installment of increasing payout and the Guaranteed Maturity Benefit totaling to Rs. 3,46,440/-

He can finally invest in building a home in his native land.

Also, in case of an unfortunate event of his death, his nominees receive a death benefit as defined by the policy.

* The above Premium figures are exclusive of Goods and Services Tax and Cess. Goods and Services Tax and Cess thereon, shall be charged as per the prevalent tax laws over and above the said premiums.

Key features

Get Guaranteed@ Income

Payable every year during the Payout Period

Increase in Guaranteed@ Income

Through Income Boosters from 5% to 7% yearly

Get higher Guaranteed@ income

With higher annual premium

Get death benefit

Irrespective of Guaranteed Income already paid

Get Guaranteed@ Maturity Benefit

Along with the last payout

Customise Protection

Through a wide range of Riders

Enjoy tax benefit

As per applicable tax laws

Eligibility

Entry Age
Minimum: 0 years
Maximum: 7 PPT - 60 years | 10 PPT - 60 years | 15 PPT - 55 years

Maturity Age
Minimum: 18 years
Maximum: 85 years

Policy and Premium Payment Term (PPT)
(PPT: Policy Terms)7 pay: 15 years | 10 pay: 20 years | 15 pay: 30 years

Premium Payment Option
Limited only

Guaranteed Income Option
Yearly or Monthly

Annual Premium
Minimum: 15,000
Maximum: No limit, subject to underwriting

Basic Sum Assured
10 times of annual premium

In case of non-annual mode, the installment premium will be divided by modal factor to arrive at annual premium.

Premium Payment Mode
Yearly, Half yearly, Quarterly, Monthly

Modal Factor (% of annual premium)
The following modal loading will be used to calculate the installment Premium.

Yearly - 100%, Half yearly - 51%, Quarterly - 26%, Monthly - 8.8%