In this uncertain world, we all are striving to make one thing certain that the future of ours & our loved ones is financially secured and worry-free. It’s better to plan now when the going is good, before the going gets tougher! Ensure a better future for your loved ones even in your absence with Kotak Income Protection Plan – a plan that provides Monthly Income which increases @ 6% p.a. compounding for the remaining policy term in the unfortunate event of your death along with a lump sum Assured Benefit to take care of immediate requirements.
Increasing Monthly Income
This plan ensures that the chosen Monthly Income increases @ 6% p.a. compounding, i.e. every year the Monthly Income will grow to 106% of the previous year’s Monthly Income from the end of 1st Policy year onwards.
Guaranteed payout period of Monthly Income
This plan offers a minimum guaranteed payout period for the Monthly Income of 5 years in case the balance Policy Term (at the time of death of the Life Assured) is less than 5 years.
Assured Benefit as lump sum on Death
In the unfortunate event death of the Life Insured during policy term, the nominee will receive an Assured Benefit (equal to 12 times of the Increased Monthly Income in the Policy Year of death) in lump sum to meet the immediate expenses.
| Entry Age | 18 – 60 years | |
| Maximum Maturity Age | 70 years | |
| Monthly Income Level | Min:  20,000 Max: No limit, subject to underwriting acceptance Note: The initial Income chosen by the policyholder should be less than or equal to his / her current Monthly Income |
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| Premium | Min: Will be determined basis Monthly Income Chosen, Age, Gender, Smoking Status, Policy Term and the Premium Payment Option chosen Max: No Limit but subject to Underwriting consideration Note: Preferred rates will be applicable for Females and Non-smokers |
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| Premium Payment Term (PPT) | Regular Limited Pay – 12 & 15 yrs |
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| Policy Term |
For Regular Pay: 10 – 30 yrs |
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| Premium Payment Mode | Yearly, Half yearly, Quarterly, Monthly | |
| Premium Modal Factor | The following modal loadings will be used to calculate the installment Premium Yearly – 100%, Half yearly – 51%, Quarterly – 26% , Monthly – 8.8% |
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