<p class=”MsoNormal” align=”center” style=”text-align: justify; margin-bottom: 0.0001pt;”><b style=”line-height: 1.42857;”><span lang=”EN-GB” style=”mso-bidi-font-size:10.0pt;line-height:115%;mso-bidi-font-family:Arial”>Chandigarh:</span></b><span lang=”EN-GB” style=”line-height: 115%;”> Kotak Mahindra Old Mutual Life
Insurance Limited (Kotak Life Insurance) announced the launch of Kotak Premier
Pension Plan, today. This is a participating plan that helps one achieve
financial stability, financial security and earn a steady income while pursuing
an active retired life.</span></p><p class=”MsoNormal” style=”text-align: justify; margin-bottom: 0.0001pt;”><span lang=”EN-GB” style=”mso-bidi-font-size:10.0pt;line-height:115%;
mso-bidi-font-family:Arial”>The provision of post-employment income in the form
of pension and/or lump sum wealth is a necessity to ensure the well-being of
ageing population. The plan promises assured guaranteed benefit available on
death or on vesting. This assured benefit will be equal to 105% of the total
premiums (excluding taxes and rider premium, if any) paid till date of death. At
any time during the tenure of the contract the death benefit equal to sum of
assured benefit, accrued guaranteed additions and accrued revisionary bonus plus
terminal bonus (if any) shall be payable. On Vesting, a corpus consisting of
sum assured plus accrued guaranteed additions plus accrued revisionary bonus
plus terminal bonus (if any), will be used to buy an annuity from Kotak Life
Insurancein line with the option chosen which will provide regular income to
the customers.<o:p></o:p></span></p><p class=”MsoNormal” style=”text-align: justify; margin-bottom: 0.0001pt;”><span lang=”EN-GB” style=”mso-bidi-font-size:10.0pt;line-height:115%;
mso-bidi-font-family:Arial”><br></span></p><p class=”MsoNormal” style=”text-align: justify; margin-bottom: 0.0001pt;”><span lang=”EN-GB” style=”line-height: 115%; font-weight: bold; color: rgb(255, 0, 0); font-size: 18px;”>Plan Benifits</span></p><p class=”MsoListParagraphCxSpFirst” style=”text-align: justify; margin: 0in 0in 0.0001pt 0.25in; text-indent: -0.25in;”><span lang=”EN-GB” style=”line-height: 16.1px; font-family: Symbol;”>·<span style=”font-stretch: normal; font-size: 7pt; line-height: normal; font-family: ‘Times New Roman’;”> </span></span><i><span lang=”EN-GB” style=”line-height: 16.1px;”>Guaranteed additions to accrue in the first five policy years<o:p></o:p></span></i></p><p class=”MsoListParagraphCxSpMiddle” style=”text-align: justify; margin: 0in 0in 0.0001pt 0.25in; text-indent: -0.25in;”><span lang=”EN-GB” style=”line-height: 16.1px; font-family: Symbol;”>·<span style=”font-stretch: normal; font-size: 7pt; line-height: normal; font-family: ‘Times New Roman’;”> </span></span><i><span lang=”EN-GB” style=”line-height: 16.1px;”>Reversionary Bonus will accrue from sixth policy year onwards<o:p></o:p></span></i></p><p class=”MsoListParagraphCxSpMiddle” style=”text-align: justify; margin: 0in 0in 0.0001pt 0.25in; text-indent: -0.25in;”><span lang=”EN-GB” style=”line-height: 16.1px; font-family: Symbol;”>·<span style=”font-stretch: normal; font-size: 7pt; line-height: normal; font-family: ‘Times New Roman’;”> </span></span><i><span lang=”EN-GB” style=”line-height: 16.1px;”>Assured benefit of 105% of the total premium paid on death or vesting<o:p></o:p></span></i></p><p class=”MsoListParagraphCxSpMiddle” style=”text-align: justify; margin: 0in 0in 0.0001pt 0.25in; text-indent: -0.25in;”><span lang=”EN-GB” style=”line-height: 16.1px; font-family: Symbol;”>·<span style=”font-stretch: normal; font-size: 7pt; line-height: normal; font-family: ‘Times New Roman’;”> </span></span><i><span lang=”EN-GB” style=”line-height: 16.1px;”>Additional protection through optional riders<o:p></o:p></span></i></p><p class=”MsoNormal” style=”margin-bottom:0in;margin-bottom:.0001pt;text-align:
justify”><span lang=”EN-GB” style=”line-height: 115%; font-weight: bold; color: rgb(255, 0, 0);”></span></p><p class=”MsoListParagraphCxSpLast” style=”text-align: justify; margin: 0in 0in 0.0001pt 0.25in; text-indent: -0.25in;”><span lang=”EN-GB” style=”line-height: 16.1px; font-family: Symbol;”>·<span style=”font-stretch: normal; font-size: 7pt; line-height: normal; font-family: ‘Times New Roman’;”> </span></span><i><span lang=”EN-GB” style=”line-height: 16.1px;”>Tax benefit on premiums paid under Sec 80CCC of Income Tax Act</span></i></p><p class=”MsoNormal” style=”text-align: justify; margin-bottom: 0.0001pt;”><span lang=”EN-GB” style=”line-height: 115%; font-weight: bold; color: rgb(255, 0, 0);”><br></span></p><p class=”MsoNormal” style=”text-align: justify; margin-bottom: 0.0001pt;”><span style=”line-height: 115%;”>Sunil Sharma, Appointed Actuary and Chief Risk
Officer, Kotak Life Insurancesaid, “The Life expectancy of Indians is
increasing year on year and therefore living longer is a significant risk.Planning
for retirement is crucial to ensure an active retired life in today’s fast
evolving times.Kotak Premier Pension Plan will facilitate retirement planning
at an early age in a systematic manner to enable you to manage your longevity
risk.Retirement should be about living life to the fullest,and not just
confined to taking care of rising medical bills.We believe that early planning for
retirement enables customers to pursue their passion, challenge their limits,
work for a social cause or learn something newwith confidence post retirement.”</span></p><p class=”MsoNormal” style=”text-align: justify; margin-bottom: 0.0001pt;”><span lang=”EN-GB” style=”mso-bidi-font-size:10.0pt;line-height:115%;
mso-bidi-font-family:Arial”>Kotak Premier Pension Plan has an exclusive
advantage of guaranteed additions in the first five years as a percentage of
the basic sum assured. For regular and limited premium payment terms, it is 5%
per annum and for single premium payment term, it is 2% per annum.</span></p><p class=”MsoNormal” style=”text-align: justify; margin-bottom: 0.0001pt;”><span lang=”EN-GB” style=”mso-bidi-font-size:10.0pt;line-height:115%;
mso-bidi-font-family:Arial”>Kotak Accidental Death Benefit and Kotak Permanent
Disability Benefit rider options can be availed along with this unique plan.</span><span style=”line-height: 115%;”> </span><span lang=”EN-GB” style=”line-height: 115%;”>The details of this plan are available here: </span><span lang=”EN-GB” style=”line-height: 1.42857;”><a href=”http://insurance.kotak.com/individual/retire/premier-pension-plan.php”><b><span style=”mso-bidi-font-size:10.0pt;
line-height:115%;mso-bidi-font-family:Arial”>Kotak Premier Pension Plan</span></b></a></span></p>
