| |
|
|
| You can choose to retire at any age between 45 yrs and 65 yrs. |
| |
| You may take a lump sum in cash of up to a third of your Basic Sum Assured or Accumulation Account*, whichever is higher; and the balance of the benefit you are eligible for will be used to buy an annuity of your choice. |
| |
| You may buy an annuity either from Kotak Life Insurance (subject to the choice and rates available at that time)**, or from any other insurer. |
| |
| You may opt to retire after the retirement date originally selected, and select a new retirement date (subject to a maximum of 65 years). No further premiums will be payable and the death benefit will be equal to the balance in Accumulation Account. (However, all riders will cease at the original retirement date). |
| |
| You can make lump-sum injections into your policy at any time before retirement (such lump-sum injections during a year may not exceed 25% of the Basic Sum Assured). A Supplementary Accumulation Account will be created for this, and will be paid out in the same manner as other benefits. |
| |
| You may exercise the option of paying premiums from the Supplementary Accumulation Account, created for "lump-sum injections", if the need arises. |
| |
| For a "With Cover" plan, you have the facility of Automatic Cover Maintenance, which ensures that the cover remains in force even when you miss the premium payments. This facility is available after the first three years of the term. |
| |
| You have the option of paying premiums in quarterly, half-yearly or yearly installments. |
|
