Kotak e-Lifetime Income Plan

• Reduce taxable income by up to Rs. 1,50,000 deduction under section 80C**
• Convenient payment options - annual, half-yearly, quarterly or monthly premium payments
• Do more with plans that offer pure protection, retirement planning and investment options

Retirement is a phase of life that a number of individuals who are part of the working class look forward to. It is the time to relax and enjoy the benefits that you have earned over years of hard work and service. The Kotak e-Lifetime Income Plan is the perfect tool offered by Kotak Life Insurance that helps you realize your dream of having a joyful retirement life. Financial independence is one of the key factors of this plan ensuring that your years spent being independent do not change. Some of the key elements of this plan are:

• The plan can be gifted to anyone
• There is a large deal of convenience when purchasing this plan as this can be done online without having to go through the hassle of visiting individual outlets of Kotak Life Insurance
• Annuity rates issued are guaranteed for a lifetime
• There are four different annuity options that are available

This annuity plan promises to ensure that there is a steady flow of income that is paid for life. The advantage of having four annuity options to choose from ensures that you make the right choice when purchasing a plan for yourself or for your parents.

Eligibility – Who is the Kotak e-Lifetime Income Plan for?

To apply for a Kotak e-Lifetime Income Plan, you will have to make sure that you meet the following requirements. The eligibility criteria for this plan are mentioned below:

Sum Assured and Premium Range – What you get and what it costs?

A Sum Assured is the total amount of money that is paid out to a policyholder while a premium is the amount paid by a policyholder to avail the benefits of the policy. Kotak e-Lifetime Income Plan pays a certain sum of money for life as a monthly income to the annuitant.

Kotak e-Lifetime Income Plan requires a policyholder to make a single payment as premium at the time of issuance of the policy.

**Please note that premiums will vary depending on the policyholder’s age, locality, term plan, and other important factors.

Plan Coverage – What the Kotak e-Lifetime Income Plan covers?

Kotak e-Lifetime Income Plan is a vital instrument to have when you’re securing your financial needs, or that of your parents, post retirement. This plan helps ensure that you or your loved ones are financially protected after retirement by providing a fixed income that is paid out to the policyholder. Kotak e-Lifetime Income Plan comes with 4 annuity/income options that are available for a policyholder to opt for and these are listed below:

Riders/Add-On Plans – Additional coverage under the Kotak e-Lifetime Income Plan

Kotak Life Insurance does not offer any riders or add-ons for Kotak e-Lifetime Income Plan.

Other Key Features – Free look Period, Surrender Values, Grace Period etc.

Kotak e-Lifetime Income Plan comes with a number of benefits and features that help a potential policyholder purchase this plan without any hesitation. Some of the key features of this plan are listed below:

Tax Benefits – How you can save with Kotak e-Lifetime Income Plan?

A customer who has purchased a Kotak e-Lifetime Income Plan can avail tax benefits that come under Section 80CCC of the Income Tax Act, 1961. Premium made at the any income that is paid by annuity is subjectable to be taxed.

Other Benefits – How you can save with Kotak e-Lifetime Income Plan?

Apart from saving your money through tax benefits, Kotak e-Lifetime Income Plan comes with a number of other benefits and these are listed below:

Apart from the benefits mentioned above, a Kotak e-Lifetime Income Plan can be gifted to another individual or your loved ones.

Why you should buy the Kotak e-Lifetime Income Plan from Kotak Life Insurance?

Kotak Life Insurance is a trusted and well-known insurance company that is based out of India. Founded in 2001, the company services over 15 million customers who are located all over the country. The company has over 232 branches located in 167 cities and has an agency strength that stands. Kotak Life Insurance has employed a brilliant customer care team that caters to the needs and requirements of its customers. The company offers a plethora of finance options that vary from protection plans, child plans, life insurance, retirement solutions, and many more.