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CreditMantri Finserve Private Limited
CreditMantri Finserve Private Limited Unit No. B2, No 769, Phase-1, Lower Ground Floor, Spencer Plaza, Anna Salai, Chennai - 600002
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Kotak Assured Income Accelerator is a popular savings and insurance plan from Kotak Life Insurance. Let’s check the eligibility and benefits of this plan.
Eligibility
The eligibility for the Kotak Assured Income Accelerator Plan is explained below.
Particulars | Details |
Entry age | 7-year premium plan – 0 to 60 years 10-year premium plan – 0 to 60 years 15-year premium plan – 0 to 55 years |
Maturity age | Minimum maturity age – 18 years Maximum maturity age – 85 years |
Premium payment | The minimum premium to be paid is Rs. 15,000 |
Premium paying term | 7 years, 10 years and 15 years |
Premium Paying frequency | Monthly, quarterly, half-yearly and annual |
Policy term | 15 years, 20 years and 30 years |
Basic sum assured | 10 times the annual premium |
Benefits
The benefits that can be received under this plan are mentioned below.
Particulars | Details |
Maturity benefits | Percentage of basic sum assured as guaranteed maturity benefits |
Death benefits | Death benefits are provided to the legal heir of the insured person The amount of death benefit to be provided depends on the entry age of the customer. The death benefit is calculated in the following manner, Entry age below 50 years Higher of,
Entry age over 50 years Higher of,
|
Guaranteed Income | Increases every year and ranges between 7% and 13% of the basic sum assured |
Income tax benefits | Tax benefits under sections 80C and 10(10D) |
Final Thoughts
Kotak Assured Income Accelerator is a guaranteed income plan with a savings component. Customers can get up to 10 times the premium paid as the sum assured under the plan.
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