Be it an Entrepreneur or an Employee or a Professional, everybody works hard with the primary motive of improving individual performance. This results into increasing profits or salary or professional fees year on year. In the similar manner, we expect our regular savings also to fetch a value that keeps on increasing year on year. Is it possible in a volatile financial market?
Yes, it is possible with Kotak Assured Income Accelerator. With the same amount of savings every year, this plan not only offers Guaranteed Income every year during the payout period but also ensures that the Guaranteed Income increases year on year.
- Guaranteed Income payable every year during the Payout Period
- Income Boosters increases the Guaranteed Income between 5% to 7% every year
- Higher the annual premium, higher will be the Guaranteed Income
- Death benefit is payable irrespective of Guaranteed Income already paid
- Guaranteed Maturity Benefit along with the last payout
- Customise Protection through a wide range of Riders
- Tax benefit on premiums paid u/s 80(C) and benefit received u/s 10(10D) of Income Tax Act, 1961
How Does the Plan Work?
You pay premiums every year for the selected premium payment term which helps in determining Basic Sum Assured and hence the Guaranteed Income. After the expiry of premium payment term, the Guaranteed Income is payable during Payout Period. At maturity, you will receive Guaranteed Maturity Benefit along with the last installment of Guaranteed Income. Mentioned below is an example of 15 years premium payment term with an annual premium of 60,000 for a 35 years old healthy individual:
Note: Figures are not drawn to scale.
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