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The Kotak Income Protection plan helps a policyholder secure his/her family’s future efficiently by availing a monthly income that increases at a 6% compounding interest annually through the remaining policy term. This benefit is provided in the event of the policyholder’s death. The policy also pays a lump sum amount to the policyholder’s family to meet immediate financial requirements.

What are the Benefits of the Kotak Income Protection Plan?

Some of the noteworthy benefits of this plan are:

  • Guaranteed monthly payouts are provided equivalent to the policyholder’s monthly income of 5 years.
  • An assured benefit worth 12 times the higher monthly income is paid to the policyholder’s dependents in case of his/her untimely death.
  • The plan also has riders available, including Kotak Accidental Disability Guardian Benefit and Reduced Paid-up Benefit.
  • The death benefit is calculated as the total assured benefit plus increased monthly income payout. Along with this, the higher of 10 times annualised premiums or 105% of the premiums are paid till the event of death of the policyholder.
  • The plan pays assured benefit in the form of increased monthly income if the policyholder meets an untimely death.
  • Limited premium policies are allowed to be surrendered.
  • Policyholders can avail of tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.

Kotak Income Protection Plan is opted by individuals who want to ensure a steady source of income for their family or dependents in case of an untimely death. This plan provides sufficient financial cover to the families of policyholders both in lump-sum form as well as monthly income.

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Corporate Agent (Composite)

CreditMantri Finserv Private Limited

CIN No

U72100TN2012PTC085154

IRDAI Registration Number

CA0665

Valid Till

01-Aug-2025

ADDRESS

CreditMantri Finserve Private Limited Unit No. B2, No 769, Phase-1, Lower Ground Floor, Spencer Plaza, Anna Salai, Chennai - 600002

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