Kotak Assured Income Accelerator Plan – Humans strive and put in a lot of effort primarily for one purpose: their own survival and sustenance. Our lives are frequently intertwined with those of others, and how we live influences the lives of those around us. Life insurance helps us achieve our primary objective of protecting ourselves and our families. is a plan made for hardworking people who want to save regularly every year and get help growing every step of the way. This is an anticipated guaranteed income that ensures that finances will not prevent you and your family from realizing certain goals.
Are you looking for a way to boost your income? If so, the Kotak Assured Income Accelerator Plan 2024 may be the right option for you. This program provides you with the opportunity to secure high-income investments that will help you build a secure future. You can choose from a variety of investment options, and the program is designed to help you achieve your financial goals. If you’re interested in learning more about the Kotak Assured Income Accelerator Plan 2024, please contact us today!
Kotak Assured Income Accelerator Plan 2024
The premium-paying term of the Kotak Assured Income plan is 15 years and it is a 30-year savings cum protection plan. This plan, as the name suggests, guarantees that the policyholder will receive an annual income beginning at the end of the 10th year and continuing for a period of 20 years, or maturity. In addition to this annual income that is guaranteed, the plan will also pay a lump sum at maturity that is between 104 and 110 percent of the basic sum assured.
Looking to take your finances to the next level? The Kotak Assured Income Accelerator Plan 2024 has got you covered! This comprehensive plan provides you with a set of financial advice and tools that will help you reach your financial goals. From investing to budgeting to saving, the Kotak Assured Income Accelerator Plan 2024 has everything you need to get ahead and stay there. So what are you waiting for? Start working towards your financial goals today!
Kotak Assured Income Accelerator Plan 2024 Details
| Name Of Article | Kotak Assured Income Accelerator Plan |
| Kotak Assured Income Accelerator Plan | Click Here |
| Category | Insurance |
| Official Website | Click Also |
Eligibility Criteria of Kotak Assured Income Accelerator Plan
If you’re looking to start or grow your business, the Kotak Assured Income Accelerator Plan is an excellent option for you. This program offers a range of benefits and assistance, including access to funding, mentorship, and office space. To be eligible for the program, you’ll need to meet certain eligibility criteria. In this post, we’ll outline these criteria and explain what they mean for you. So don’t wait – get started today and see just how easy it is to apply for the Kotak Assured Income Accelerator Plan!
| Entry Age | Minimum – 0 years Maximum – This varies according to the premium payment term (PPT)
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| Maturity Age | Minimum – 18 years Maximum – 85 years |
| Basic Sum Assured | 10 times the annual premium |
| Annual Premium | Minimum – Rs 15,000/- Maximum – No upper limit |
Key Features of Kotak Assured Income Accelerator Plan
Kotak Assured Income Accelerator Plan is the perfect plan for entrepreneurs who are looking to take their business to the next level. This program offers entrepreneurs access to world-class mentors, industry-specific training, and financial support to help them turn their innovative ideas into successful businesses. With this program, you’re guaranteed to get the help you need to reach your goals. So if you’re ready to take your business to the next level, apply today and start building a successful future!
| Type | Guaranteed income anticipated endowment insurance scheme/plan |
| Coverage | Death Benefit – The Sum Assured, which varies depending on an individual’s entry age, is paid to the nominee in the event that the life insured passes away during the term of the policy. If the entry age is under 50 years old, this Sum Assured is the higher of the basic sum assured, the guaranteed maturity benefit, or 11 times the annual premium. This sum assured will be either the basic sum assured, the guaranteed maturity benefit, or seven times the annual premium if the entry age is over 50. Survival Benefit –This plan provides a yearly guaranteed income to participants. Maturity Benefit – The Guaranteed Maturity Benefit is a set amount based on the Basic Sum Assured. |
| Basis | Individual |
| Premium paying term | 7 pay for 15 years 10 pay for 20 years 15 pay for 30 years |
| Premium paying modes | Monthly, quarterly, half-yearly and yearly |
| Payout period | 7 PPT – 8 annual payouts, beginning from the end of 8th policy year 10 PPT – 10 annual payouts, beginning from the end of 11th policy year 15 PPT – 15 annual payouts, beginning from the end of 16th policy year |
| Renewability | By paying late payment fees and clearing all outstanding premium payments, lapsed policies can be renewed within two years of the first unpaid premium. |
| Grace period | Yearly, half yearly and quarterly mode – 30 days Monthly mode – 15 days |
| Loans | Loans upto 80% of surrender value can be obtained under this policy. |
| Free Look Period | If a policyholder does not agree with any of the terms and conditions of the plan, they can return the policy within 15 days (30 days in the case of policies sold through distance marketing). |
Advantages of Kotak Assured Income Accelerator Plan
If you’re looking for an opportunity to get your business off the ground quickly and with minimal risk, Kotak Assured Income Accelerator Plan may be the right option for you. This program offers small business owners access to a range of financial and legal assistance, including funding, mentorship, and legal advice. What’s more, you can be sure that the program is reliable and effective – it has a long history of helping businesses take off and grow. So what are you waiting for? Apply now!
| Tax Benefits | Policyholders get tax reductions on paid charges under Segment 80C of IT Act. Under Section 10, benefits received are also eligible for certain tax breaks (10D). |
| Assured Income | Policyholders get assured income every year during the payout term. |
| Income Boosters | Every year, policyholders see an increase in their assured income of 5-7%. |
| Death Benefit | Even if assured or guaranteed income has already been paid, the death benefit will still be paid. |
| Customization | Customers have the option of customizing their policies by adding additional riders. |
How The Plan Works?
Regardless of the premium payment term chosen by policyholders, annual premium payments are required. The Basic Sum Assured and Guaranteed Income they are eligible for are determined by these premiums. During the payout period, the guaranteed income will be paid out at the end of the premium period’s term. On maturity, policyholders will be paid the guaranteed maturity benefit in addition to the final guaranteed income installment.
For instance, Mr. Kumar, who is 35 years old, selects this plan with a premium payment term of 15 years and an annual premium of Rs 60,000.He will receive a guaranteed income under this plan beginning in his 16th year at an interest rate of 13%, as shown in the table below.
| Year | Income (Rs) |
| 16 | 78000 |
| 20 | 99840 |
| 25 | 127140 |
| 30 (last installment + maturity benefit) | 346440 |
Premium Payment
| Guaranteed Maturity benefit (% of sum assured) | ||
| Entry Age (Years) | 15 & 20 years policy | 30 years policy term |
| 25 | 32.50% | 33.50% |
| 30 | 31.75% | 32.75% |
| 35 | 31.00% | 32.00% |
| 40 | 27.25% | 27.00% |
Riders
There are a variety of riders included in the Kotak Life Assured Income Accelerator plan that can be utilized based on individual preferences.
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- Kotak Term Benefit –An additional rider sum would be paid in addition to the death benefit in the event of the life insured’s death.
- Kotak Accidental Death Benefit – An additional sum assured will be paid in addition to the death benefit in the event of an accidental death of the life insured.
- Kotak Permanent Disability Benefit – In the event of an accident-related permanent disability, this provides a benefit in installments.
- Kotak Life Guardian Benefit –If the policyholder dies, all outstanding premiums will be waived and paid by.
- Kotak Accidental Disability Guardian Benefit – In the event of an accidental disability, Kotak Life Insurance covers all outstanding premiums.
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