The Kotak Retirement Income (Unit Linked) of Kotak Life Insurance is an absolute retirement plan solution that removes the doubts of the retired life. The different fund options available below this insurance plan ensures that the policy holder can make a attractive gain on the income along with the guaranteed maturity value ensuring the retirement corpus which will remain integral any market changes.
The chief advantages of Kotak Retirement Income (Unit Linked) of Kotak Life Insurance policy are as follows:
- This policy gives the facility to like the unlimited upside with capital protection.
- The customer under this policy gets the choice of 5 fund options.
- The ill health untimely retirement benefit is also available under this policy.
- The tax free switching to help increasing the returns is offered with this policy.
- The customer can also build up more by the way of top up contributions.
The benefits of Kotak Retirement Income (Unit Linked) of Kotak Life Insurance policy are as follows:
As maturity benefit
On the retirement the customer or the policy holder can withdraw 1/3rd of the total amount in the policy account depending on the choose plan option. The policy holder can also buy allowance from the other choices of Kotak Life Insurance or any other insurance company.
As death benefit
In case of the ill-timed death of the policy holder the receiver will get the benefit proceeds according to the chosen plan options. The basic sum assured or the fund value in the main account whichever is higher will be paid to the receiver.
As tax benefit
Tax Benefits can be availed under section 80C and 10(10D) of Income Tax Act, 1961. Section 80D of Income Tax Act, 1961 is applicable in case of Kotak Retirement Income Plan (With Cover); if Critical Illness benefit is opt for.
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Tags: insurance plan, KOTAK LIFE INSURANCE, Kotak Retirement Income Plan