The Kotak Retirement Income (Unit Linked) of Kotak Life Insurance is a complete retirement solution that removes the worries of the retired life. The different fund options available under this plan ensures that the policy holder can make a handsome gain on the income along with the guaranteed maturity value ensuring the retirement corpus which will remain intact 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 enjoy the unlimited upside with capital preservation.
* The customer under this policy gets the choice of 5 fund options.
* The ill health early retirement benefits is also available under this policy.
* The tax free switching to help increasing the returns is available with this policy.
* The customer can also accumulate 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 may withdraw 1/3rd of the total amount in the policy account depending on the chosen plan option. The policy holder can also buy annuity from the other choices of Kortal Life Insurance or any other insurance company.
'''As death benefit'''
In case of the unfortunate death of the policy holder the beneficiary 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 beneficiary.
'''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 opted for.