Kotak Premier Income Plan

Kotak Premier Income Plan

A Limited Pay Participating Life Insurance Plan

We all have dreams and aspirations for a better life for our family. We always make space to give them a little 'extra', so that they feel loved and cared for. Kotak Premier Income Plan is a savings and protection oriented plan that offers Guaranteed@ Annual Income immediately after the premium payment term to provide you with an additional annual income. It also gives accrued bonuses at the end of the policy term in lump sum while providing life cover throughout the policy term.

How it works

Mr. Verma, 35 years, is a family man who wants to plan for his future in advance

He decides an annual premium of Rs. 100,000*, a policy term of 19 years and a premium payment term of 10 years. Thus, Sum Assured is derived as Rs. 776, 070/-

He continues to pay the pre-decided premium of Rs. 100,000

He starts getting a guaranteed annual income of Rs. 108,000 from the beginning of 11th policy year till the beginning of 19th policy year.

At maturity, he will receive accrued bonuses & terminal bonus, if any @ 4%# to be Rs. 223,935 or @ 8% to be Rs. 859,876.

#The assumed non-guaranteed rates of return chosen in the 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. 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. Goods and Services Tax and Cess thereon, shall be charged as per the prevalent tax laws over and above the said premiums.

In the unfortunate event of his death during the term of the policy, his nominee will receive: Sum Assured on death + accrued Simple Reversionary bonuses, if any + interim bonus, if any + terminal bonus, if any.

Key features

Get Guaranteed@ Annual/Monthly Income

immediately after Premium Payment Term which is higher than the Annualised Premium

Get Enhanced Sum Assured rates

for female lives and higher premiums

Enjoy upside potential

through bonuses accruing throughout the policy term

Enhance protection

through a wide range of Riders

Eligibility

Age criteria
Entry Age: Min: 3 years
Maximum: 50 years - 8 pay | 55 years - 10 & 12 pay
Maturity Age: Min: 18 years | Max: 78 years

Premium Payment Term (PPT)
Limited: 8 years for 15 year term |10 years for 19 year term |12 years for 23 year term

Policy Term (Fixed)
15 years / 19 years / 23 years

Premium Levels
Minimum: For 8 & 10 Pay: Rs. 30,000 | For 12 Pay: Rs. 25,000,
Maximum: No Limits, subject to U/W acceptance

Sum Assured
Will be derived basis Premium, Age, Gender, PPT & Policy Term

Premium Payment Mode
Yearly, Half yearly, Quarterly, Monthly

Modal Factor
The following modal loadings will be used to calculate the instalment Premium:
Yearly - 100% - Half yearly - 51% - Quarterly - 26% - Monthly - 8.8%