Kotak Assured Pension

Kotak Assured Pension

A Non-linked, Non-participating, Life Insurance Annuity Plan

Retirement years are the golden years of life where you would wish to do things that you have only been planning till now or are deferring by giving them lesser priority. It's a phase where you would want to enjoy doing what you wish without worrying about finances.

Kotak Assured Pension is an annuity plan that promises to pay a regular stream of income on immediate basis or post deferment period for life, ensuring a worry-free retirement.

The plan will be offered to Individual Customers (Including customers transferring UK tax relieved assets through Qualifying Recognised Overseas Pension Scheme i.e. QROPS), Reverse Mortgage Schemes, Subscribers of NPS,or Members of Group Schemes.

How it works

Step 1

Choose between Immediate/Deferred Annuity basis your requirement

Step 2

Choose the Annuity Option as per your requirement

Step 3

In case of Deferred Annuity, choose Deferment Period

Step 4

Choose the Annuity Payout Frequency

Step 5

Provide your Age and Pay the Initial Purchase Price

Key features

Immediate Annuity
i. 8 Options to choose from
ii. Flexibility to avail additional annuity payout through Top Up
iii. Issued annuity rates are guaranteed for lifetime
iv. Higher Annuity Rates for Higher Purchase Price

Deferred Annuity
i. 2 Options to choose from
ii. Flexibility to choose Deferment Period between 1 - 10 years basis on your annuity requirement
iii. Guaranteed@ Additions accrued during the Deferment Period
iv. Lump-sum amount payable on Death of Surviving Annuitant during & after the Deferment Period
v. Issued Annuity Rates are guaranteed for lifetime
vi. Higher Annuity Rates for Higher Purchase Price

Eligibility





Entry age for Nominees of deceased KLI Pension Plan policyholders (Last Birthday)
Min: 0 years; Max: 99 years (70 years for Deferred Annuity Option 7 & 10)
For nominees of existing pension policyholders,
i. "Lifetime Income with Cash-Back on Death or Critical Illness" shall not be
allowed if the Nominee is less than 18 years or is above 80 years
ii. Joint Life Annuity Options shall not be allowed if the Nominee is less than 18 years

Initial Purchase Price
Min: Any amount that ensures minimum monthly annuity of Rs. 1000 for the chosen annuity option to an annuitant /member of the superannuation scheme

Max: No Limit Note: NPS subscribers will have no restriction on minimum monthly annuity payout.

Minimum Annuity
Monthly : Rs. 1,000 || Quarterly : Rs. 3,000
Half-Yearly : Rs. 6,000 || Yearly : Rs. 12,000
*No minimum annuity requirement for NPS subscribers

Annuity Modes
Yearly, Half-yearly, Quarterly, Monthly