The Kotak Secure Retirement Plan of Kotak Life Insurance is a complete retirement solution that ensures that the money of the policy holder remains safe from the changes of the market. The policy comes with a guarantee seal. Te fund options assure that the investments continue to grow over years while getting handsome returns.
The advantages of Kotak Secure Retirement Plan of Kotak Life Insurance policy are as follows:
- This policy does not require any medical test for signing up in the policy.
- The customer under this policy can enjoy unlimited upside from capital markets with a shortcoming security guarantee.
- The customer gets the flexibility to choose the retirement age.
- The customer can increase the contributions by the way of top up premiums.
- The benefits of switching from one fund to another are also available under this policy.
The benefits of Kotak Secure Retirement Plan of Kotak Life Insurance are as follows:
On the vesting age the policy holder under this policy will receive the maturity benefit equal to the GMV or fund value in the main account along with the top up accounts. The policy holder can withdraw 1/3rd of the amount as a lump sum in cash and the balance can be used by the policy holder to purchase annuity of choice from Kotak Life Insurance of any other life insurance company registered under IRDA.
If there is any case of unfortunate death of the policy holder due to any accident or mishap then the beneficiary will get the fund value in the main account along with the fund value in the top up account as a lump sum.
The beneficiary can also purchase annuity from Kotak Life Insurance of any other life insurance company registered under IRDA.
The tax benefits are available under Section 80C of the Income Tax Act, 1961.Tax Benefits are subject to change in the tax laws.