{"uin":"107N123V13","name":"Kotak Assured Pension","url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13","insurer":{"slug":"kotak-mahindra-life-insurance","name":"Kotak Mahindra Life Insurance Company Limited","url":"https://indiainsurances.com/insurer/kotak-mahindra-life-insurance"},"line":"life","category":"pension-annuity","category_name":"Pension and annuity","irdai_type":"Product","kind":"product","status":"active","approved_on":"2021-04-06","withdrawn_on":null,"summary":"Kotak Assured Pension is a non-participating, non-linked general annuity product with immediate and deferred annuity options. It has no maturity benefit, a 30 days free-look period, and a 30/15 days grace period for regular or limited pay deferred annuity.","analysis":{"state":"machine","analysed_at":"2026-10-19 21:14:25.667853+00","note":"First pass: one AI reading; every stated fact carries a verbatim quote found in the cited clause, but it has not been reviewed. Check the clause before relying on it."},"facts":[{"key":"plan_variants","label":"Plans and variants","section":"Overview","meaning":"The named plans inside this product (not cover types or payout options). Facts can differ between them.","status":"quote-verified","value":["Kotak Assured Pension"],"display":"Kotak Assured Pension","note":"The documents show individual and group policy forms for the same product, not separate named plans.","quote":"Plan Name: | Kotak Assured Pension","sources":[{"clause":"II(a)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-ii-a"}],"law":[]},{"key":"policy_term","label":"Policy term","section":"Eligibility","meaning":"How long one policy runs before it ends or must be renewed.","status":"quote-verified","value":"For individual annuity options, annuity is generally payable for the annuitant's lifetime, subject to the chosen option and termination events. For the group master policy, the policy is yearly auto renewable, while existing annuitants continue as per the policy terms.","display":"Individual annuity: lifetime by option; group master policy: yearly auto renewable","note":"The individual policy wording describes lifetime annuity benefits by option; the group wording separately states yearly auto-renewal for the master policy.","quote":"Annuity will be paid to the Primary Annuitant throughout his/her lifetime. ... This Policy is a yearly auto renewable policy. ... However the terms and conditions of this Policy will survive till the last Primary Annuitant (and Secondary Annuitant under Options 8, 9 & 10) continue to be Members under the Policy.","sources":[{"clause":"1(x)","heading":"Option 10","page":18,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-1-x"},{"clause":"9","heading":"Renewal","page":39,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10485#c-9"}],"law":[]},{"key":"claim_intimation","label":"Claim intimation deadline","section":"Claims","meaning":"How soon you must tell the insurer about a claim or hospitalisation.","status":"quote-verified","value":"All claims should be notified to the Company in writing within ninety (90) days from the claim event.","display":"Within ninety (90) days from the claim event","note":"The deadline is stated in the CIS; the policy wording asks for claim intimation and documents but does not give a deadline.","quote":"All claims should be notified to the Company in writing within ninety (90) days from the claim event.","sources":[{"clause":"Row 4(b)","heading":null,"page":5,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10670#c-row-4-b"}],"law":[{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 20, 21","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_documents","label":"Claim documents","section":"Claims","meaning":"Documents the insurer asks for when you claim.","status":"quote-verified","value":["Intimation of the claim event (duly supported by evidence of claim event)","Cause of claim event with supporting documents eg: documents diagnosing the illness for Critical illness Claim","Copy of Death certificate","Original Policy Document.","Proof of age of the Annuitant / Policyholder, if this has not been previously admitted by the Company","Recent photograph of the Claimant, as mentioned above.","Current residential proof and identity proof of Claimant, as mentioned above.","Original cancelled cheque showing name of Bank, location of Bank Branch, Name of Account Holder and Account No."],"display":"Claim intimation form, cause/supporting documents, death certificate, original policy document, age proof if not admitted, claimant photo, address/ID proof, and cancelled cheque or attested passbook/bank statement","note":null,"quote":"The Primary documents normally required for processing a claim are:\n• Intimation of the claim event (duly supported by evidence of claim event), in writing and in the Company’s format and signed by the Beneficiary / Nominee/ Assignee/ legal heirs as the case may be giving complete details as required in the Claim Intimation Form.\n• Cause of claim event with supporting documents eg: documents diagnosing the illness for Critical illness Claim\n• Copy of Death certificate\n• Original Policy Document.\n• Proof of age of the Annuitant / Policyholder, if this has not been previously admitted by the Company (e.g. birth certificate, school leaving certificate etc.).\n• Recent photograph of the Claimant, as mentioned above.\n• Current residential proof and identity proof of Claimant, as mentioned above.\n• Original cancelled cheque showing name of Bank, location of Bank Branch, Name of Account Holder and Account No. In absence of the same the client can even submit Photocopy of Bank Pass Book/Bank Statement of Claimant bearing the afore-referred details duly attested by the concerned bank.","sources":[{"clause":"5","heading":"Claims","page":38,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-5-3"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 17","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 23","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_settlement_time","label":"Claim settlement time promised","section":"Claims","meaning":"How quickly the policy says a claim is decided or paid, and from when that is counted (intimation or last document).","status":"not-stated","value":null,"display":null,"note":"The CIS only points to the company website for Turn Around Time (TAT) for claims settlement; it does not print a settlement time in the document.","quote":null,"sources":[],"law":[{"title":"The Insurance Act, 1938","section":"Section 64UM(4) to (6)","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 10","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 15","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 16","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(i), V.3(ii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.4","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 23","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"The Motor Vehicles Act, 1988: Chapter XI, insurance of motor vehicles against third party risks","section":"Section 149","url":"https://indiainsurances.com/law/motor-vehicles-act-1988"}]},{"key":"exclusions_main","label":"Main exclusions","section":"Exclusions","meaning":"What the policy does not pay for, in the policy's own words.","status":"conflicting","value":["All tumors which are histologically described as carcinoma in situ, benign, pre-malignant, borderline malignant, low malignant potential, neoplasm of unknown behavior, or non-invasive","Any non-melanoma skin carcinoma unless there is evidence of metastases to lymph nodes or beyond;","Malignant melanoma that has not caused invasion beyond the epidermis;","Angioplasty and/or any other intra-arterial procedures","Other acute Coronary Syndromes","Any type of angina pectoris","Transient ischemic attacks (TIA)","Traumatic injury of the brain","Other stem-cell transplants","Where only islets of langerhans are transplanted"],"display":"Critical-illness exclusions include carcinoma in situ and other non-invasive or specified early cancers, non-metastatic non-melanoma skin carcinoma, melanoma not beyond epidermis, angioplasty/intra-arterial procedures, other acute coronary syndromes, angina, TIA, traumatic brain injury, other stem-cell transplants, and islets of langerhans transplants","note":"The policy wording lists exclusions inside the Critical Illness definitions for Option 6b. The CIS says: 'Exclusions (events where insurance coverage is not payable), if any. | Not Applicable'.","quote":"The following are excluded –\n• All tumors which are histologically described as carcinoma in situ, benign, pre-malignant, borderline malignant, low malignant potential, neoplasm of unknown behavior, or non-invasive ... • Any non-melanoma skin carcinoma unless there is evidence of metastases to lymph nodes or beyond;\n• Malignant melanoma that has not caused invasion beyond the epidermis; ... The following are excluded:\n• Angioplasty and/or any other intra-arterial procedures ... The following are excluded:\n• Other acute Coronary Syndromes\n• Any type of angina pectoris ... The following are excluded:\n• Transient ischemic attacks (TIA)\n• Traumatic injury of the brain ... The following are excluded:\n• Other stem-cell transplants\n• Where only islets of langerhans are transplanted ... 9. | Exclusions (events where insurance coverage is not payable), if any. | Not Applicable | Not Applicable","sources":[{"clause":"1(II)","heading":null,"page":13,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-1-ii"},{"clause":"2(II)","heading":null,"page":14,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-2-ii"},{"clause":"3(II)","heading":null,"page":14,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-3-ii"},{"clause":"5(II)","heading":null,"page":14,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-5-ii"},{"clause":"6(II)","heading":null,"page":15,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-6-ii"},{"clause":null,"heading":"CUSTOMER INFORMATION SHEET / KNOW YOUR POLICY","page":1,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10670#c-customer-information-sheet-know-your-policy-2"}],"law":[{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 11","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 16","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grievance","label":"Grievance route","section":"Claims","meaning":"Who to complain to first, as stated in the policy, before going to the Insurance Ombudsman.","status":"quote-verified","value":"First approach the insurer through its nearest branch, customer service department, toll-free number, or WECARE. If not satisfied or if there is no response within 14 days, contact the insurer's Grievance Redressal Officer before approaching IRDAI or the Insurance Ombudsman.","display":"First complain to Kotak Life customer service; escalate to the Grievance Redressal Officer after 14 days/no satisfaction","note":null,"quote":"In case the Policyholder/ complainant has any complaint(s) or grievance(s) against the Insurer, he/ she may approach the Insurer using any of the following modes for resolution:\n• visit any of the Insurer’s nearest branches; ... In case the Policyholder/ complainant is not satisfied with the decision provided by the above office(s) or has not received any response within 14 days, he/ she may contact the Grievance Redressal Officer of the Insurer","sources":[{"clause":"1","heading":"For resolution of grievances","page":42,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-1-5"}],"law":[{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 3","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 4","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 5","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(11)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(42)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 34","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 69","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Insurance Act, 1938","section":"Section 38","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 12","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 19","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 20","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 13","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(5), 5(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(9)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 25","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 26","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 11","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"Review of revision in premium rates under health insurance policies for senior citizens, 2025","section":"Para 3","url":"https://indiainsurances.com/law/irdai-senior-premium-2025"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 13","url":"https://indiainsurances.com/law/ombudsman-rules-2017"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 14","url":"https://indiainsurances.com/law/ombudsman-rules-2017"}]},{"key":"sum_assured","label":"Sum assured","section":"Cover","meaning":"The minimum and maximum life cover, or the rule that sets it (for example 10 times the annual premium).","status":"not-applicable","value":null,"display":null,"note":"This is a general annuity product; the policy defines annuity and death benefits by option, not a sum assured life-cover amount.","quote":null,"sources":[],"law":[]},{"key":"death_benefit","label":"Death benefit","section":"Cover","meaning":"What your family gets if you die during the term, and how it is calculated.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[]},{"key":"maturity_benefit","label":"Maturity benefit","section":"Cover","meaning":"What you get if you survive to the end of the term.","status":"quote-verified","value":"No maturity benefit is applicable under this policy.","display":"No maturity benefit","note":null,"quote":"ii. Maturity Benefit:\nNo maturity benefit is applicable under this policy.","sources":[{"clause":"1(x)","heading":"Option 10","page":18,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-1-x"}],"law":[]},{"key":"premium_paying_term","label":"Premium paying term","section":"Premium","meaning":"For how many years you pay premiums.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[]},{"key":"maturity_age","label":"Maximum maturity age","section":"Eligibility","meaning":"The oldest age at which cover ends.","status":"not-applicable","value":null,"display":null,"note":"The product is an annuity with no maturity benefit; annuity payments are described as lifetime payments rather than cover ending at a maturity age.","quote":null,"sources":[],"law":[]},{"key":"suicide_clause","label":"Suicide clause","section":"Exclusions","meaning":"What is paid if death is by suicide within the first 12 months.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 21","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 35","url":"https://indiainsurances.com/law/irdai-life-products-2024"}]},{"key":"surrender","label":"Surrender value","section":"Renewal and rights","meaning":"What you get if you stop the policy early, and from when.","status":"quote-verified","value":"Single Pay policies acquire surrender value immediately. Regular and Limited Pay policies acquire Guaranteed Surrender Value after premiums due for at least 2 policy years are paid in full, and Special Surrender Value after completion of the first policy year if at least 1 policy year premium is paid; surrender is only for Options 5, 6a, 6b, 7, 9 and 10, otherwise the Surrender Value is nil.","display":"Single pay: immediately; regular/limited: GSV after 2 policy years and SSV after 1 policy year; only Options 5, 6a, 6b, 7, 9 and 10","note":"Detailed GSV/SSV formulae vary by single pay, regular/limited pay, immediate/deferred status and year of surrender.","quote":"In case of Single Pay policies, the Policy shall acquire Surrender Value immediately. In case of Regular and Limited Pay policies, the Policy shall acquire Guaranteed Surrender Value provided Premiums due for at least 2 Policy years have been paid in full; and Special Surrender Value shall be payable after completion of first Policy year provided premiums due for at least 1 Policy year have been paid in full.\nSurrender is only applicable for the following Annuity Options:\nOption 5: Lifetime Income with cash-back in parts Option 6.a: Lifetime Income with Cash-Back on Death Option 6.b.: Lifetime Income with Cash-Back on Death or Critical Illness Option 7: Deferred Income with Cash-Back Option 9: Last survivor Lifetime Income with 100%/50% annuity to the Secondary Annuitant and cash-back on death of Surviving Annuitant Option 10: Deferred Income with 100% / 50% Annuity to Secondary Annuitant with Cash-Back on death of Surviving Annuitant\nIf the annuity option chosen is other than those specified above, the Surrender Value will be nil.","sources":[{"clause":"6","heading":"Surrender","page":32,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-6-2"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.1 to 26.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.4 and 26.5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 27","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.16 and 1.17","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(1) to (3)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(4) and (5)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(6) to (9)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(B)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 2(A)(vi)(c)(V)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"paid_up","label":"Paid-up value","section":"Renewal and rights","meaning":"What cover continues if you stop paying premiums after a few years.","status":"quote-verified","value":"Reduced paid-up is applicable only for Regular/Limited Premium policies. If at least one full year's premium is paid and later premiums are not paid within the Grace Period, the policy converts by default to Reduced Paid Up; the annuity is (T / N) * Original Annuity Amount.","display":"Regular/limited pay only; after at least one full year's premium, unpaid later premiums convert the policy to Reduced Paid Up by default","note":"T is total regular/limited premiums paid and N is total regular/limited premiums originally payable.","quote":"i) This section is applicable for Regular/ Limited Premium policies only. ... ii) If at least one full years premium are paid, and if the subsequent Premiums are not paid within the Grace Period, the Policy shall be converted into a Reduced Paid Up policy by default. ... Reduced Paid Up Annuity = (T / N) * Original Annuity Amount","sources":[{"clause":"3(i)","heading":null,"page":30,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-3-i-2"},{"clause":"3(ii)","heading":null,"page":30,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-3-ii-2"},{"clause":"3(iv)","heading":null,"page":30,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-3-iv"}],"law":[]},{"key":"revival","label":"Revival period","section":"Renewal and rights","meaning":"How long after lapsing you can restart the policy.","status":"quote-verified","value":"Revival is for Limited/Regular Premium policies only. Regular Premium policies can be revived within the lower of 5 policy years or the outstanding Premium Payment Term from the due date of the first unpaid premium; Limited Premium policies can be revived within the lower of 5 policy years or the end of Deferment Period, with outstanding premiums and interest.","display":"Up to 5 policy years, subject to outstanding PPT or deferment period limits","note":"The policy states interest is 9% p.a. of outstanding premiums and may be revised with IRDAI approval.","quote":"i) Revival is applicable for Limited/ Regular Premium Policies only. ... Under Regular Premium Policy, the Policyholder can revive a Lapsed/ Reduced Paid Up policy by making an application to the Company within a maximum period of 5 (Five) Policy years or the outstanding Premium Payment Term (whichever is lower); from the due date of the first unpaid premium and by paying the outstanding premiums along with interest. ... Under Limited Premium Policy, the Policyholder can revive a Lapsed/ Reduced Paid Up policy by making an application to the Company within a maximum period of 5 (Five) Policy years or till the end of Deferment Period (whichever is earlier); from the due date of the first unpaid premium and by paying the outstanding premiums along with interest.","sources":[{"clause":"2(i)","heading":null,"page":29,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-2-i-2"},{"clause":"2(a)","heading":null,"page":29,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-2-a"},{"clause":"2(b)","heading":null,"page":29,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-2-b"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.1 and 40.1.2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.4","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.7","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.10","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.28","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.39","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"policy_loan","label":"Policy loan","section":"Renewal and rights","meaning":"Whether you can borrow against the policy.","status":"quote-verified","value":"Loans may be granted after the policy acquires surrender value, for at least Rs. 10,000 and up to 50% of surrender value. Loans are allowed only under Deferred Annuity Options 7 and 10 during the Deferment Period, and are not applicable for Immediate Annuity Options or QROPS.","display":"Yes, only Options 7 and 10 during deferment; Rs. 10,000 minimum and up to 50% of surrender value","note":"The initial loan interest rate printed is currently 8.95% compounding yearly, applied on a compounding half-yearly basis.","quote":"Loans may be granted for a minimum amount of Rs. 10,000/- and maximum up to 50% of the surrender value of the Policy and at an interest rate after the Policy acquires surrender value. ... • Loan shall be allowed under Deferred Annuity Options (Option 7 & 10); This is not applicable for Immediate Annuity Options\n• Loan shall be allowed only during the Deferment Period ... Note: Loan shall not be applicable in case the Policy has been purchased under QROPS.","sources":[{"clause":"4","heading":"Loans","page":30,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-4-2"}],"law":[]},{"key":"riders_available","label":"Riders available","section":"Cover","meaning":"Optional add-ons such as accidental death, critical illness or waiver of premium.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[]},{"key":"section45","label":"Claims after 3 years (Section 45)","section":"Claims","meaning":"After 3 years a life policy cannot be questioned on any ground, and only for fraud with proof before that.","status":"quote-verified","value":"No policy of life insurance can be called in question on any ground after expiry of 3 years from the later of policy issuance, commencement of risk, revival or rider date. Within 3 years, it may be questioned for fraud or for material misstatement/suppression, with written communication of the grounds and materials.","display":"Cannot be questioned after 3 years; within 3 years only as stated for fraud or material misstatement","note":null,"quote":"No Policy of Life Insurance shall be called in question on any ground whatsoever after expiry of 3 yrs from\na) the date of issuance of policy or\nb) the date of commencement of risk or\nc) the date of revival of policy or\nd) the date of rider to the policy\nwhichever is later. ... On the ground of fraud, a policy of Life Insurance may be called in question within 3 years ... Life insurance Policy can be called in question within 3 years on the ground that any statement of or suppression of a fact material to expectancy of life of the insured was incorrectly made","sources":[{"clause":"01","heading":null,"page":52,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-01-3"},{"clause":"02","heading":null,"page":52,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-02-3"},{"clause":"06","heading":"Life insurance Policy can be called in question within 3 years on the ground that any","page":52,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-06-3"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 45","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.6","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"tax_note","label":"Tax note in the document","section":"Premium","meaning":"What the document says about tax benefits. Not stated when it only says taxes are charged on the premium. Tax law changes; confirm separately.","status":"quote-verified","value":"The policy is subject to tax laws prevailing in India, and the policyholder is advised to consult a tax advisor for tax benefits available under the policy.","display":"Subject to Indian tax laws; consult your tax advisor for tax benefits","note":null,"quote":"This Policy is subject to tax laws prevailing in India. You are kindly advised to consult your Tax Advisor for the tax benefits available under this Policy.","sources":[{"clause":"Part A","heading":null,"page":1,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-part-a"}],"law":[]},{"key":"free_look","label":"Free-look period","section":"Renewal and rights","meaning":"Days after you receive the policy in which you can return it for a refund if you do not agree with its terms.","status":"quote-verified","value":{"unit":"days","amount":30},"display":"30 days","note":"Not available for policies with policy term less than a year and not available for existing customers where it is compulsory to purchase annuity from the insurer.","quote":"The Policyholder is offered a 30 days’ free look period to review the terms and conditions of the Policy (except for policies having a policy term of less than a year) beginning from the date of receiving the Policy Document in electronic form.","sources":[{"clause":"5","heading":"Free Look Provision","page":31,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-5-2"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 5","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(1), 20(2)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(3) to 20(5)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, II.8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grace_period","label":"Grace period","section":"Renewal and rights","meaning":"Days you get after the due date to pay without losing cover or continuity.","status":"quote-verified","value":{"unit":"days","amount":30},"display":"30 days for annual, half-yearly and quarterly mode; 15 days for monthly mode","note":"The 30-day norm reflects the longer grace period; monthly mode has 15 days. Grace period applies only for Regular & Limited Pay Deferred Annuity.","quote":"Grace Period:\nMeans the time granted by the Company i.e. 30 days from the due date for the payment of premium for annual, half-yearly and quarterly mode and 15 days for monthly mode, without levy of any interest or penalty during which time the Policy is considered to be in-force with the risk cover without any interruption as per the terms of the Policy. ... Grace Period is applicable only for Regular & Limited Pay Deferred Annuity.","sources":[{"clause":"6(II)","heading":null,"page":15,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-6-ii"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 8","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 9","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 8","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.2","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 1.3","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"eligibility_entry_age","label":"Entry age","section":"Eligibility","meaning":"The youngest and oldest age at which you can buy this policy.","status":"quote-verified","value":"Minimum entry age: 40 years for new/existing individual customers and new group customers; 55 years for QROPS for immediate annuity and 55 years minus deferment period for deferred annuity; 18 years for existing individual KLI pension plan policyholders, superannuation fund members and existing group customers. Maximum entry age is 85 years for immediate annuity options except Option 6b, 80 years for Option 6b, and 70 years for deferred Options 7 and 10.","display":"Minimum 40 years generally; 55 years for QROPS; 18 years for existing pension/superannuation/existing group customers; maximum 85 years, 80 years for Option 6b, 70 years for deferred options","note":"From the sales brochure. It also states the maximum age difference between Primary and Secondary Annuitant is 30 years, and separate nominee age limits apply for nominees of deceased KLI pension plan policyholders.","quote":"Entry Age | Primary & Secondary Annuitant:\n(Last Birthday) | Minimum :\nImmediate Annuity Options | Deferred Annuity Options\nNew / Existing Individual Customers7 | 40 years | 40 years\nNew Group Customers7\nPolicy purchased as QROPS12 | 55 years | 55 years – Deferment Period (in years)\nExisting Individual KLI Pension Plan Policyholders / Members of Superannuation Fund / Existing Group Customers | 18 years | 18 years\nMaximum :\nAnnuity Options | Maximum Age at Entry\nAll Immediate Annuity Options except Option 6b. | 85 years\nImmediate Annuity Option 6b. | 80 years\nDeferred Annuity Options (Option 7 & 10) | 70 years","sources":[{"clause":null,"heading":"Key Advantages","page":35,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10408#c-key-advantages"}],"law":[]},{"key":"premium_modes","label":"Premium payment options","section":"Premium","meaning":"How often you can pay: yearly, half-yearly, quarterly, monthly.","status":"quote-verified","value":["Yearly","Half Yearly","Quarterly","Monthly"],"display":"Yearly, Half Yearly, Quarterly, Monthly","note":null,"quote":"Premium Payment Frequency | Modal Loading\nYearly | 100% of Yearly Premium\nHalf Yearly | 51% of Yearly Premium\nQuarterly | 26% of Yearly Premium\nMonthly | 8.8% of Yearly Premium","sources":[{"clause":"2","heading":"PREMIUMS PAYABLE","page":27,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-2-2"}],"law":[]},{"key":"premium_type","label":"Premium payment type","section":"Premium","meaning":"Single premium, regular premium (every year of the term) or limited premium (fewer years than the term).","status":"quote-verified","value":["Single","Regular","Limited"],"display":"Single / Regular / Limited","note":null,"quote":"Premium Payment Option | <> Premium","sources":[{"clause":"II(a)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-ii-a"}],"law":[]},{"key":"annuity_options","label":"Annuity options","section":"Cover","meaning":"Life annuity, joint life, return of purchase price, increasing annuity...","status":"quote-verified","value":["Option 1: Lifetime Income","Option 2: Lifetime Income with term guarantee of 5/10/15/20 years","Option 3: Lifetime Income with annual increase of 3% or 5%","Option 4: Lifetime Income with Balance Cash-Back","Option 5: Lifetime Income with Cash-Back in parts","Option 6a. Lifetime Income with Cash Back on Death","Option 6b. Lifetime Income with Cash-Back on Death or Critical Illness","Option 7: Deferred Income with Cash-Back","Option 8a. Last survivor Lifetime Income with 100% Annuity to the Secondary Annuitant","Option 8b. Last survivor Lifetime Income with 50% Annuity to the Secondary Annuitant","Option 9a. Last survivor Lifetime Income with 100% Annuity to the Secondary Annuitant and cash-back on death of the surviving annuitant","Option 9b. Last survivor Lifetime Income with 50% annuity to the Secondary Annuitant and cash-back on death of surviving annuitant.","Option 10a. Deferred Income with 100% Annuity to Secondary Annuitant with Cash-Back on death of Surviving Annuitant","Option 10b. Deferred Income with 50% Annuity to Secondary Annuitant with Cash-Back on death of Surviving Annuitant"],"display":"10 annuity options, including single-life, joint-life, cash-back, increasing, guaranteed-term and deferred options","note":null,"quote":"i. Option 1: Lifetime Income ... ii) Option 2: Lifetime Income with term guarantee of 5/10/15/20 years ... iii) Option 3: Lifetime Income with annual increase of 3% or 5% ... iv) Option 4: Lifetime Income with Balance Cash-Back ... v) Option 5: Lifetime Income with Cash-Back in parts ... vi) Option 6: Lifetime Income with Cash Back 6a. Lifetime Income with Cash Back on Death 6b. Lifetime Income with Cash-Back on Death or Critical Illness ... vii) Option 7: Deferred Income with Cash-Back ... viii) Option 8: Last survivor Lifetime Income with 100%/50% annuity to the Secondary annuitant 8a. Last survivor Lifetime Income with 100% Annuity to the Secondary Annuitant 8b. Last survivor Lifetime Income with 50% Annuity to the Secondary Annuitant ... ix) Option 9: Last survivor Lifetime Income with 100%/50% Annuity to the Secondary Annuitant and cash-back on death of the surviving annuitant 9a. Last survivor Lifetime Income with 100% Annuity to the Secondary Annuitant and cash-back on death of the surviving annuitant 9b. Last survivor Lifetime Income with 50% annuity to the Secondary Annuitant and cash-back on death of surviving annuitant. ... x) Option 10: Deferred Income with 100%/50% Annuity to Secondary Annuitant with Cash-Back on death of Surviving Annuitant 10a. Deferred Income with 100% Annuity to Secondary Annuitant with Cash-Back on death of Surviving Annuitant 10b. Deferred Income with 50% Annuity to Secondary Annuitant with Cash-Back on death of Surviving Annuitant","sources":[{"clause":"1(i)","heading":null,"page":18,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-1-i-2"},{"clause":"1(ii)","heading":"Option 2","page":18,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-1-ii-2"},{"clause":"1(iii)","heading":"Option 3","page":18,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-1-iii"},{"clause":"1(iv)","heading":"Option 4","page":18,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-1-iv"},{"clause":"1(v)","heading":"Option 5","page":18,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-1-v"},{"clause":"1(vi)","heading":"Option 6","page":18,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-1-vi"},{"clause":"1(vii)","heading":"Option 7","page":18,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-1-vii"},{"clause":"1(viii)","heading":"Option 8","page":18,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-1-viii"},{"clause":"1(ix)","heading":"Option 9","page":18,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-1-ix"},{"clause":"1(x)","heading":"Option 10","page":18,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10481#c-1-x"}],"law":[]},{"key":"purchase_price_min","label":"Minimum purchase price","section":"Eligibility","meaning":"Smallest lump sum or annuity accepted.","status":"quote-verified","value":"Minimum premium is any amount that ensures minimum monthly annuity of `1000 for the chosen annuity option to an annuitant/member of the superannuation scheme. There is no maximum limit; NPS subscribers and customers using proceeds of any existing KLI pension plan or superannuation fund have no restriction on minimum monthly annuity payout.","display":"Any amount ensuring minimum monthly annuity of `1000; maximum no limit","note":"From the sales brochure.","quote":"emium | Minimum: Any amount that ensures minimum monthly annuity of `1000 for the chosen annuity option to an annuitant/member of the superannuation scheme. NPS subscribers / customers using proceeds of any existing KLI Pension Plan or Super-annuation Fund shall have no restriction on minimum monthly annuity payout. Maximum: No Limit","sources":[{"clause":null,"heading":"Key Advantages","page":35,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-assured-pension-107n123v13/document/10408#c-key-advantages"}],"law":[]},{"key":"deferment","label":"Deferment period","section":"Cover","meaning":"For deferred plans, how long before income starts.","status":"quote-verified","value":"For Options 7 and 10, the deferment period is chosen at inception, cannot be changed, and is in years, not months. The schedule shows 1-10 years; the brochure states Single Pay 1-10 years and Regular/Limited Pay 3-10 years.","display":"Options 7 and 10: 1-10 years; Single Pay 1-10 years and Regular/Limited Pay 3-10 years","note":"The Regular/Limited Pay split is from the sales brochure.","quote":"<