Have you planned for your retired life? You should make sure that you are financially secure after you have retired. Are you wondering if you will struggle without a steady income? Kotak Life Insurance has got your back! You can take any of the retirement plans provided by Kotak to stay financially stable even after you retire. It is very important to go for a retirement plan even if you have great savings.
Let us discuss the benefits of Kotak Life Insurance Retirement Plans:
These are the retirement plans offered by Kotak Life Insurance:
This is a conventional participating pension plan offered by Kotak. This plan will help you build your funds required for a relaxed and peaceful retired life. If you have a few plans that do not work when you are young, you can achieve them during your leisure time after you retire.
Let us discuss the benefits and features of Kotak Premier Pension Plan:
This is an immediate annuity plan offered by Kotak. You will receive a steady income for fixed periods. With this income, you will be able to lead a great lifestyle even after you retire. You will be required to pay a large sum of money at the beginning and then you will get income for your entire life. This income will be provided to the annuitant and the annuitant can be the policyholder or the immediate family members of the policyholder.
Let us discuss the benefits and features of this plan:
This is an online retirement plan offered by Kotak. You can buy it peacefully from home simply by following the steps provided on the official website of Kotak. This plan offers 4 different annuity options. If you have not been able to do something that you have always wanted due to a hectic lifestyle, you can now make it happen after retiring.
Let us take a look at the benefits and features of this plan:
|Plan name||Entry age||Vesting age or maturity age||Premium|
|Kotak Premier Pension Plan||Minimum: 30 years Maximum for single pay: 60 years Maximum for regular and limited pay: 55 years||45 to 70 years||The premiums will be determined by age, policy term, PPT, and sum assured levels.|
|Kotak Lifetime Income Plan||Entry age of annuitant: 45 to 99 years Entry age of spouse: 35 to 99 years||Information not provided.||Minimum: Rs.50,000 Maximum: There is no limit.|
|Kotak e-Lifetime Income Plan||Minimum For a new customer: 45 years For a current KLI pension policyholder: 18 years Maximum 99 years For nominees 0 to 99 years Entry age of spouse For a new customer: 35 years For a current KLI pension policyholder: 18 years||Information not provided.||Minimum For current KLI pension plan policyholder: An amount that will make sure you pay the minimum annuity amount For a new customer: Rs.50,000 Maximum: There is no limit.|
Choosing a retirement plan from Kotak will give you a peace of mind when you think about your retired life. You can also receive tax benefits for the premiums that you have paid as per Section 80CCC of Income Tax Act, 1961. These plans will keep you financially secure with income for a lifetime and will also provide protection to your dependents. When you select a nominee, he or she will receive a benefit after your death.
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