{"uin":"107N141V03","name":"Kotak Get Assured Income Now","url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03","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":"savings-life","category_name":"Endowment and savings plans","irdai_type":"Product","kind":"product","status":"active","approved_on":"2024-02-13","withdrawn_on":null,"summary":"Kotak Get Assured Income Now is a participating non-linked individual savings life policy with Early Income, Paid-Up Addition and Premium Saver plan options. It provides death, maturity and survival benefits, has limited premium payment, a 30 days free look period, and a grace period of 30 days for yearly, half-yearly and quarterly modes and 15 days for monthly mode.","analysis":{"state":"machine","analysed_at":"2026-10-19 21:06:03.102918+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":["Early Income Plan Option","Paid-Up Addition Plan Option","Premium Saver Plan Option"],"display":"Early Income Plan Option; Paid-Up Addition Plan Option; Premium Saver Plan Option","note":null,"quote":"a) Early Income Plan Option: ... b) Paid-Up Addition Plan Option: ... c) Premium Saver Plan Option:","sources":[{"clause":"1(a)","heading":null,"page":19,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-1-a"},{"clause":"1(b)","heading":null,"page":19,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-1-b"},{"clause":"1(c)","heading":null,"page":19,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-1-c"}],"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":"Policy term is to age 85, or a fixed term of 40 years, as shown in the brochure eligibility table.","display":"To age 85 or fixed term of 40 years","note":"From the sales brochure.","quote":"85 years less Entry Age of Life Insured Policy Term OR Fixed term of 40 years","sources":[{"clause":null,"heading":"2SXI","page":14,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10475#c-2sxi"}],"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":"Claims should be notified to the insurer in writing within 90 days from the claim event.","display":"Within 90 days from the claim event","note":null,"quote":"Claims should be notified to the Insurer in writing within ninety (90) days from the claim event.","sources":[{"clause":"5(ii)","heading":null,"page":38,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-5-ii-2"}],"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":["Valid bank documents of the payee i.e. personalized cheque/ bank statement","Copy of the PAN card or Form 60","NRE declaration/ confirmation","Settlement request form or self-declaration (if applicable)","claim intimation form","original death certificate and medical cause of death/ relevant medical records","certified copies of the first information report (FIR), post mortem report, the autopsy report any relevant newspaper cuttings and final police closure report","certified copy of the Life Insured’s driving license","Original policy document","Current residential proof and photo identity proof of the Claimant","Original cancelled cheque"],"display":"Bank proof, PAN/Form 60, NRE declaration if applicable, settlement request/self-declaration, claim intimation form, death and medical records, accident/police records where applicable, driving licence where applicable, original policy document, claimant ID/address proof and cancelled cheque/bank proof","note":"The insurer may call for additional information and documents to establish validity of a claim.","quote":"• Valid bank documents of the payee i.e. personalized cheque/ bank statement;\n• Copy of the PAN card or Form 60;\n• NRE declaration/ confirmation (if Premiums are received from NRE account);\n• Settlement request form or self-declaration (if applicable). ... The primary documents normally required for processing a claim are:\n• Proof of claim event: o In case of a death claim, the original death certificate and medical cause of death/ relevant medical records are required. ... o Where death occurs due to any car or motor Accident where the Life Insured was the driver, a certified copy of the Life Insured’s driving license to be submitted. o Original policy document. o All medical records are required. ... • Claimant related documents: o Current residential proof and photo identity proof of the Claimant, as mentioned. o Original cancelled cheque showing name of bank, location of bank branch, name of account holder and account no.","sources":[{"clause":"5","heading":"Claims","page":37,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-5-3"},{"clause":"5(iv)","heading":null,"page":38,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-5-iv-2"}],"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 policyholders to the company website for Turn Around Time (TAT) for claims settlement.","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":"quote-verified","value":["death of the Life Insured due to suicide within twelve (12) months from the Date of Commencement of Risk","suicide within twelve (12) months of the date of Revival, when the Revival is done after six (6) months from the date of first unpaid Premium","If atleast one full years’ Premiums are not paid, the Policy shall Lapse at the end of the Grace Period and no benefits shall be payable except in the following situations"],"display":"Suicide within 12 months from risk commencement pays only 80% of Total Premiums paid; suicide within 12 months of revival after 6 months from first unpaid premium pays higher of 80% of Total Premiums paid or Surrender Value; if at least one full year’s premiums are not paid, lapse at grace period end and no benefits except stated situations","note":null,"quote":"In the event of death of the Life Insured due to suicide within twelve (12) months from the Date of Commencement of Risk, 80% of the Total Premiums paid till the date of death shall be payable to the Claimant provided the Policy is in force. ... In case of suicide within twelve (12) months of the date of Revival, when the Revival is done after six (6) months from the date of first unpaid Premium; the higher of 80% of the Total Premiums paid till the date of death or Surrender Value (if any) as on the date of death shall be payable to the Claimant provided the Policy is in force. ... If atleast one full years’ Premiums are not paid, the Policy shall Lapse at the end of the Grace Period and no benefits shall be payable except in the following situations:","sources":[{"clause":"1(i)","heading":null,"page":36,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-1-i-2"},{"clause":"1(b)","heading":null,"page":36,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-1-b-2"},{"clause":"1","heading":"Lapse","page":26,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-1-2"}],"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":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"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":"quote-verified","value":"Sum Assured on Death is the highest of Death Benefit Multiple times Annualized Premium plus extra premium if any, Sum Assured on Maturity, or 105% of Total Premiums paid till death. Sum Assured on Maturity is Annualized Premium multiplied by the Premium Payment Term.","display":"Death cover is highest of Death Benefit Multiple x Annualized Premium plus extra premium, Sum Assured on Maturity, or 105% of Total Premiums paid; Sum Assured on Maturity = Annualized Premium x Premium Payment Term","note":null,"quote":"If all the due Premiums have been paid, the Sum Assured on Death of the Life Insured during the Policy Term shall be highest of either ‘a’ or ‘b’ or ‘c’ below; ... a) Death Benefit Multiple* x (Annualized Premium plus extra premium, if any); or ... b) Sum Assured on Maturity; or ... c) 105% of Total Premiums paid (including extra premium, if any) paid till the date of death. ... Sum Assured on Maturity:\nMeans the guaranteed maturity benefit payable on Maturity of Policy. The amount of Sum Assured on Maturity is calculated as Annualized Premium multiplied by the Premium Payment Term","sources":[{"clause":"Part B(c)","heading":null,"page":12,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-part-b-c"},{"clause":"Part B(a)","heading":null,"page":17,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-part-b-a-2"},{"clause":"Part B(b)","heading":null,"page":17,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-part-b-b-2"},{"clause":"Part B(c)","heading":null,"page":17,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-part-b-c-2"}],"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":"quote-verified","value":"If all due premiums are paid or the policy is in grace period and in force, Early Income and Premium Saver options pay Sum Assured on Death plus Interim Bonus and Terminal Bonus if declared. Paid-Up Addition option pays Sum Assured on Death plus Accrued Paid-Up Additions if available plus Interim Bonus and Terminal Bonus if declared.","display":"Early Income/Premium Saver: Sum Assured on Death + Interim Bonus + Terminal Bonus; Paid-Up Addition: Sum Assured on Death + Accrued Paid-Up Additions + Interim Bonus + Terminal Bonus","note":"Due unpaid premiums are deducted if death occurs during the grace period; once death benefit is paid, the policy terminates.","quote":"If all the due Premiums are paid up to date or during the Grace Period; the benefits payable on death of the Life Insured when the Policy is in force shall (depending on the Plan Option chosen) be as follows:\nIn case of Early Income Plan Option and Premium Saver Plan Option:\n• Sum Assured on Death; plus\n• Interim Bonus (if declared); plus\n• Terminal Bonus (if declared). In case of Paid-Up Addition Plan Option:\n• Sum Assured on Death; plus\n• Accrued Paid-Up Additions (if available); plus\n• Interim Bonus (if declared); plus\n• Terminal Bonus (if declared).","sources":[{"clause":"2","heading":"Death Benefit","page":20,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-2"}],"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":"On survival to the end of the policy term with the policy in force and premiums paid, Early Income pays Sum Assured on Maturity plus Income Benefit plus Terminal Bonus if declared. Paid-Up Addition pays Sum Assured on Maturity plus Income Benefit for the last policy year plus Accrued Paid-Up Additions if available plus Terminal Bonus if declared. Premium Saver pays Sum Assured on Maturity plus Cash Bonus if any plus Terminal Bonus if declared.","display":"Early Income: SAM + Income Benefit + Terminal Bonus; Paid-Up Addition: SAM + last-year Income Benefit + Accrued Paid-Up Additions + Terminal Bonus; Premium Saver: SAM + Cash Bonus + Terminal Bonus","note":"Once maturity benefit is paid, the policy terminates.","quote":"On survival of the Life Insured till the end of the Policy Term and provided the Policy is in force till that time with the due Premiums being paid; the following Maturity Benefit shall (depending on the Plan Option chosen) be payable:\nIn case of Early Income Plan Option:\n• Sum Assured on Maturity; plus\n• Income Benefit; plus\n• Terminal Bonus (if declared).\nIn case of Paid-Up Addition Plan Option:\n• Sum Assured on Maturity; plus\n• Income Benefit for the last Policy year; plus\n• Accrued Paid-Up Additions (if available); plus\n• Terminal Bonus (if declared).\nIn case of Premium Saver Plan Option:\n• Sum Assured on Maturity; plus\n• Cash Bonus (if any); plus\n• Terminal Bonus (if declared).","sources":[{"clause":"3","heading":"Maturity Benefit","page":21,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-3"}],"law":[]},{"key":"premium_paying_term","label":"Premium paying term","section":"Premium","meaning":"For how many years you pay premiums.","status":"quote-verified","value":"Premium payment terms available are 6, 8, 10 and 12 years.","display":"6/8/10/12 years","note":"From the sales brochure. The brochure notes that 6 premium paying term is available under Early Income Option and Paid-up Addition Option.","quote":"Premium Payment Term | 6/8/10/12 years","sources":[{"clause":null,"heading":"2SXI","page":14,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10475#c-2sxi"}],"law":[]},{"key":"maturity_age","label":"Maximum maturity age","section":"Eligibility","meaning":"The oldest age at which cover ends.","status":"quote-verified","value":"The maximum maturity age of the life insured is 85 years.","display":"Max: 85 years","note":"From the sales brochure.","quote":"Maturity Age& of Life Insured Min: 40 years | Max: 85 years","sources":[{"clause":null,"heading":"2SXI","page":14,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10475#c-2sxi"}],"law":[]},{"key":"suicide_clause","label":"Suicide clause","section":"Exclusions","meaning":"What is paid if death is by suicide within the first 12 months.","status":"quote-verified","value":"If death by suicide occurs within 12 months from commencement of risk, 80% of Total Premiums paid till death is payable if the policy is in force. For suicide within 12 months of revival, full death benefit is payable if revival was within 6 months from first unpaid premium; if revival was after 6 months, the higher of 80% of Total Premiums paid till death or Surrender Value is payable if in force.","display":"Within 12 months from risk commencement: 80% of Total Premiums paid; within 12 months of revival: death benefit if revived within 6 months, otherwise higher of 80% of Total Premiums paid or Surrender Value","note":null,"quote":"In the event of death of the Life Insured due to suicide within twelve (12) months from the Date of Commencement of Risk, 80% of the Total Premiums paid till the date of death shall be payable to the Claimant provided the Policy is in force. ... In case of suicide within twelve (12) months of the date of Revival of the Policy, when the Revival is done within six (6) months from the date of first unpaid Premium; the Suicide Exclusion shall not be applicable and the Death Benefit under the Policy shall be payable to the Claimant provided the Policy is in force. ... In case of suicide within twelve (12) months of the date of Revival, when the Revival is done after six (6) months from the date of first unpaid Premium; the higher of 80% of the Total Premiums paid till the date of death or Surrender Value (if any) as on the date of death shall be payable to the Claimant provided the Policy is in force.","sources":[{"clause":"1(i)","heading":null,"page":36,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-1-i-2"},{"clause":"1(a)","heading":null,"page":36,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-1-a-2"},{"clause":"1(b)","heading":null,"page":36,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-1-b-2"}],"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":"Guaranteed Surrender Value is acquired after at least 2 consecutive full years’ premiums are paid. After completion of the first policy year with one full year’s premium received, Special Surrender Value is payable; surrender value is the higher of Guaranteed Surrender Value or Special Surrender Value and is paid as a lump sum.","display":"GSV after at least 2 consecutive full years’ premiums; SSV after first policy year if one full year’s premium received; higher of GSV or SSV, lump sum","note":"GSV formula and factors vary by plan option and year of surrender.","quote":"Guaranteed Surrender Value is acquired under the Policy only after the Policyholder has made payments of at least two (2) consecutive full years’ Premiums. In case of Surrender of the Policy, after completion of first Policy Year provided one full year’s Premium has been received, a Special Surrender Value shall be payable. ... Surrender Value payable shall be higher of the Guaranteed Surrender Value or Special Surrender Value. ... Upon Surrender of the Policy, all the Benefits shall cease and the Policy shall be terminated.\nvi. The Surrender Value shall be paid out as a lump sum.","sources":[{"clause":"3(i)","heading":null,"page":28,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-3-i"},{"clause":"3(ii)","heading":null,"page":28,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-3-ii"},{"clause":"3(g)","heading":null,"page":29,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-3-g"}],"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":"Once the policy acquires surrender value, if later premiums are not paid within the grace period it becomes a Reduced Paid-Up policy by default. Reduced paid-up payouts continue by plan option, generally using reduced paid-up sums assured based on Total Premiums paid divided by Total Premiums payable, with no future Cash Bonuses.","display":"Automatic Reduced Paid-Up after surrender value if premiums not paid within grace period; benefits reduce in proportion to premiums paid and future Cash Bonuses stop","note":"Paid-Up Addition and Premium Saver options have separate reduced paid-up payout rules in the policy wording.","quote":"Once the Policy acquires Surrender Value, if the subsequent Premiums are not paid within the Grace Period, the Policy will be converted into a Reduced Paid-Up policy by default. ... Where; Reduced Paid-Up Sum Assured on Maturity = Sum Assured on Maturity * [Total Premiums paid/ Total Premiums payable over the Policy Term]; ... Note: The Policy shall not be eligible for future Cash Bonuses. However, the Guaranteed Income shall be reduced in the same proportion of the Premiums paid.","sources":[{"clause":"4(i)","heading":null,"page":30,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-4-i"},{"clause":"4(a)","heading":null,"page":30,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-4-a"}],"law":[]},{"key":"revival","label":"Revival period","section":"Renewal and rights","meaning":"How long after lapsing you can restart the policy.","status":"quote-verified","value":"A lapsed or Reduced Paid-Up policy, with or without riders, can be revived within 5 policy years from the due date of the first unpaid premium and before maturity. Revival within 6 months is without evidence of good health; after 6 months but within 5 years requires evidence of good health and habits, outstanding premiums and interest.","display":"Within 5 policy years from first unpaid premium and before maturity","note":"Current revival interest rate in the policy wording is 9% per annum on outstanding premiums, subject to revision with prior IRDAI approval.","quote":"The Policyholder can revive a Lapsed/ Reduced Paid-Up Policy (with or without Riders) by making an application to the Insurer to that effect; within a period of five Policy years from the due date of the first unpaid Premium and before the Date of Maturity of the Policy. ... 1. | within six months from the due date of the first unpaid Premium; | without evidence of good health; ... 2. | after six months but within five years from the due date of the first unpaid Premium and before the Date Of Maturity of the Policy; | on production of evidence of good health and good habits","sources":[{"clause":"2","heading":"Revival","page":26,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-2-2"},{"clause":"Row 1","heading":"within six months from the due date of the first unpaid Premium;","page":27,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-row-1"}],"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 a minimum of Rs. 10,000 and up to 50% of the surrender value, on company terms. Current loan interest is 9.40% p.a. and outstanding loan with interest can be deducted from benefits.","display":"Yes, after surrender value; minimum Rs. 10,000 and maximum up to 50% of Surrender Value; current interest 9.40% p.a.","note":null,"quote":"Upon the Policy acquiring a Surrender Value under the terms of this Policy, loans may be granted under the Policy for a minimum amount of Rs. 10,000/- and maximum up to 50% of the Surrender Value of the Policy specified by the Company from time to time ... The rate of interest on loan (currently 9.40 % p.a.) shall be specified by the Company","sources":[{"clause":"5","heading":"Loans","page":32,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-5-2"},{"clause":"5(ii)","heading":null,"page":32,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-5-ii"}],"law":[]},{"key":"riders_available","label":"Riders available","section":"Cover","meaning":"Optional add-ons such as accidental death, critical illness or waiver of premium.","status":"quote-verified","value":["Kotak Permanent Disability Benefit Rider (UIN: 107B002V03)","Kotak Term Benefit Rider (UIN: 107B003V03)","Kotak Accidental Death Benefit Rider (UIN: 107B001V04)","Kotak Life Guardian Benefit Rider (UIN: 107B012V02)","Kotak Accidental Disability Guardian Benefit Rider (UIN: 107B011V02)","Kotak Critical Illness Plus Benefit Rider (UIN: 107B020V02)"],"display":"Kotak Permanent Disability Benefit, Term Benefit, Accidental Death Benefit, Life Guardian Benefit, Accidental Disability Guardian Benefit, and Critical Illness Plus Benefit riders","note":"Riders are optional and require their respective premiums.","quote":"• Kotak Permanent Disability Benefit Rider (UIN: 107B002V03)\n• Kotak Term Benefit Rider (UIN: 107B003V03)\n• Kotak Accidental Death Benefit Rider (UIN: 107B001V04)\n• Kotak Life Guardian Benefit Rider (UIN: 107B012V02)\n• Kotak Accidental Disability Guardian Benefit Rider (UIN: 107B011V02)\n• Kotak Critical Illness Plus Benefit Rider (UIN: 107B020V02)","sources":[{"clause":"5","heading":"Rider Benefits","page":23,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-5"}],"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 life insurance policy can be called in question on any ground after expiry of 3 years from the later of issuance, commencement of risk, revival, or rider date. Within 3 years it may be questioned for fraud or material misstatement, with written communication of grounds and materials; for non-fraud misstatement, premiums collected till repudiation are paid within 90 days.","display":"After 3 years, no policy can be called in question; within 3 years, fraud or material misstatement rules apply","note":null,"quote":"No Policy of Life Insurance shall be called in question on any ground whatsoever after expiry of 3 years 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 whichever 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 ... In case repudiation is on ground of mis-statement and not on fraud, the premium collected on policy till the date of repudiation shall be paid to the insured or legal representative or nominee or assignees of insured, within a period of 90 days from the date of repudiation.","sources":[{"clause":"01","heading":null,"page":52,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-01-3"},{"clause":"02","heading":null,"page":53,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-02-3"},{"clause":"06","heading":"Life insurance Policy can be called in question within 3 years on the ground that any","page":53,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-06-3"},{"clause":"07","heading":"In case repudiation is on ground of mis-statement and not on fraud, the premium collected","page":53,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-07-3"}],"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 as amended from time to time, including tax deducted at source at applicable rates, and the policyholder is advised to consult a tax advisor for tax benefits available under the policy.","display":"Subject to Tax Laws; consult tax advisor for tax benefits","note":null,"quote":"This Policy is subject to the Tax Laws*, as amended from time to time and other legislations prevailing in India. ... This Policy is subject to tax deducted at source at the applicable rates, in accordance with the prevailing Tax Laws. ... The Policyholder is advised to consult his/ her tax advisor for the tax benefits available under this Policy.","sources":[{"clause":"9(v)","heading":null,"page":41,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-9-v"}],"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":null,"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":"7","heading":"Free Look Provision","page":33,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-7-2"}],"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 yearly, half-yearly and quarterly modes; 15 days for monthly mode","note":"Norm uses 30 days; monthly mode has a 15 days grace period.","quote":"Grace Period:\nMeans the specified period of time granted by the Insurer i.e. thirty (30) days from the due date for the payment of Premium for Yearly, Half-Yearly and Quarterly Premium Payment Mode and fifteen (15) days from the due date for the payment for Monthly Premium Payment 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.","sources":[{"clause":"Part B(c)","heading":null,"page":12,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-part-b-c"}],"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":"The brochure shows minimum entry age as 90 days and maximum entry age up to 55 years, with lower maxima shown for some policy term or premium payment term combinations.","display":"Minimum 90 days; maximum up to 55 years","note":"From the sales brochure. The eligibility table text is extracted with formatting loss; it shows different maximum entry ages by option/term.","quote":"Entry Age& of Life Insured | Max | To Age 85/ | 90 days\n40 years\nTo Age 85 | 50 years | 55 years\nMax\n40 years | 44 years","sources":[{"clause":null,"heading":"2SXI","page":14,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10475#c-2sxi"}],"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 Mode: | <<Yearly/ Half-Yearly/ Quarterly/ Monthly>>","sources":[{"clause":null,"heading":"Policy Details","page":7,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-policy-details"}],"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":["Limited"],"display":"Limited","note":null,"quote":"Premium Payment Option: | Limited","sources":[{"clause":null,"heading":"Policy Details","page":7,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-policy-details"}],"law":[]},{"key":"guaranteed_benefits","label":"Guaranteed benefits","section":"Cover","meaning":"What is guaranteed, in rupees or as a formula, regardless of the insurer's performance.","status":"quote-verified","value":"Guaranteed benefits include Sum Assured on Maturity, calculated as Annualized Premium multiplied by Premium Payment Term, Guaranteed Income equal to 0.70% of Sum Assured on Maturity for Early Income and Paid-Up Addition options, and Guaranteed Loyalty Additions equal to 110% of Annualized Premium for the Premium Saver option.","display":"SAM = Annualized Premium x PPT; Guaranteed Income = 0.70% of SAM for Early Income/Paid-Up Addition; Guaranteed Loyalty Additions = 110% of Annualized Premium for Premium Saver","note":null,"quote":"Guaranteed Income:\nMeans an amount calculated as 0.70% of the Sum Assured on Maturity; applicable to the Early Income Plan Option and Paid-Up Addition Plan Option. ... Guaranteed Loyalty Addition(s):\nMeans an amount calculated as 110% of Annualized Premium; applicable only in case of the Premium Saver Plan Option. ... Sum Assured on Maturity:\nMeans the guaranteed maturity benefit payable on Maturity of Policy. The amount of Sum Assured on Maturity is calculated as Annualized Premium multiplied by the Premium Payment Term","sources":[{"clause":"Part B(c)","heading":null,"page":12,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-part-b-c"},{"clause":"Part B(c)","heading":null,"page":17,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-part-b-c-2"}],"law":[]},{"key":"bonus","label":"Bonus type","section":"Cover","meaning":"Participating plans share profits as bonuses; these are NOT guaranteed.","status":"quote-verified","value":"The policy is participating and may have Cash Bonus, Interim Bonus and Terminal Bonus. Cash Bonuses are not guaranteed; Interim Bonus and Terminal Bonus may be declared as described in the policy.","display":"Cash Bonus, Interim Bonus and Terminal Bonus; not guaranteed/may be declared","note":null,"quote":"These Cash Bonuses are however not guaranteed and shall be applicable provided all due Premiums have been paid in full. ... An Interim Bonus may be declared at the end of each financial year and shall be applicable to in force and Premium paying policies exiting between two (2) Policy anniversaries; in the event of a death or Surrender claim. ... The Insurer may decide to pay Terminal Bonus at Maturity of Policy.","sources":[{"clause":"Part B(a)","heading":null,"page":12,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-part-b-a"},{"clause":"Part B(b)","heading":null,"page":12,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-part-b-b"},{"clause":"Part B(c)","heading":null,"page":12,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-part-b-c"}],"law":[]},{"key":"illustration_returns","label":"Illustrated returns","section":"Cover","meaning":"The benefit illustration at the IRDAI rates (4% and 8%); not a promise.","status":"quote-verified","value":"The brochure illustrations use assumed non-guaranteed rates of return of 4% p.a. and 8% p.a. These rates are not guaranteed and are not upper or lower limits.","display":"4% p.a. and 8% p.a.; not guaranteed","note":"From the sales brochure.","quote":"The assumed non-guaranteed rates of return chosen in all above illustration are 4% p.a. and 8% p.a. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back as the value of your policy is dependent on a number of factors including future investment performance.","sources":[{"clause":null,"heading":"2SXI","page":14,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10475#c-2sxi"}],"law":[]},{"key":"money_back","label":"Survival or money-back payouts","section":"Cover","meaning":"Instalments paid during the term.","status":"quote-verified","value":"Early Income option pays Income Benefit at the end of each policy month or policy year until policy term end, death or surrender. Paid-Up Addition option uses Income Benefit to buy Paid-Up Additions. Premium Saver option pays Cash Bonus, if any, at the end of each month or year after completion of the premium payment term until policy term end, death or surrender.","display":"Early Income: monthly/yearly Income Benefit from first month/year; Paid-Up Addition: Income Benefit buys Paid-Up Additions; Premium Saver: Cash Bonus after PPT monthly/yearly","note":null,"quote":"In case of Early Income Plan Option:\nAt the end of each Policy month/ Policy year (as applicable), the Income Benefit shall be payable till the end of the Policy Term; or death of the Life Insured; or Surrender whichever is earlier. ... In case of Paid-Up Addition Plan Option:\nThe Income Benefit payable shall be utilized to purchase Paid-Up Additions. ... In case of Premium Saver Plan Option:\nAt the end of each Policy month/ Policy year (as applicable) post completion of the Premium Payment Term, the Cash Bonus (if any) shall be payable till end of the Policy Term; or death of the Life Insured; or Surrender whichever is earlier.","sources":[{"clause":"4","heading":"Survival Benefit","page":22,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548#c-4"}],"law":[]}],"documents":[{"kind":"wording","label":"Kotak Get Assured Income Now UIN 107N141V03","pages":54,"fetched_at":"2026-10-17 19:54:17+00","source_url":"https://www.kotaklife.com/assets/images/uploads/how_do_i/Kotak_Get_Assured_Income_Now.pdf","url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10548"},{"kind":"wording","label":"Kotak Get Assured Income Now withdrawn UIN 107N141V01","pages":52,"fetched_at":"2026-10-17 20:22:51+00","source_url":"https://www.kotaklife.com/assets/images/uploads/how_do_i/Kotak_Get_Assured_Income_Now_(UIN_107N141V01)_PD_Web_Upload.pdf","url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/11221"},{"kind":"cis","label":"Kotak Get Assured Income Now CIS (English)","pages":6,"fetched_at":"2026-10-17 19:58:51+00","source_url":"https://www.kotaklife.com/assets/images/uploads/how_do_i/Kotak_Get_Assured_Income_Now_UIN_107N141V03.pdf","url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10638"},{"kind":"brochure","label":"Kotak Get Assured Income Now","pages":43,"fetched_at":"2026-10-17 19:50:21+00","source_url":"https://www.kotaklife.com/assets/images/uploads/how_do_i/Kotak-GAIN-Brochure.pdf","url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03/document/10475"}],"versions":[{"uin":"107N141V01","version":null,"approved_on":null},{"uin":"107N141V03","version":null,"approved_on":null}],"where_to_buy":[{"purpose":"buy","kind":"insurer","name":"Kotak Mahindra Life Insurance official website","url":"https://www.kotaklife.com/","note":"Website as listed by IRDAI. Not checked: the site served a browser challenge to our crawler on 2026-10-19; we do not solve challenges."},{"purpose":"buy","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"claims_and_complaints":[{"purpose":"claim","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."},{"purpose":"grievance","kind":"official","name":"Bima Bharosa (IRDAI grievance portal)","url":"https://bimabharosa.irdai.gov.in/","note":"Register and track a complaint against any insurer with IRDAI. Complain to the insurer first; escalate here if the reply is late or unsatisfactory."},{"purpose":"grievance","kind":"official","name":"e-Daakhil (consumer commission e-filing)","url":"https://edaakhil.nic.in/","note":"Not reachable from our crawler on 2026-10-19; use e-Jagriti if this link does not open."},{"purpose":"grievance","kind":"official","name":"e-Jagriti (consumer commission filing)","url":"https://e-jagriti.gov.in/","note":"Ministry of Consumer Affairs platform for consumer commission cases, a route for insurance disputes that the Ombudsman does not settle."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Ahmedabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Gujarat, Dadra & Nagar Haveli, Daman and Diu. Email: oio.ahmedabad@cioins.co.in. Phone: 079 - 25501201/02. Address: Office of the Insurance Ombudsman, Jeevan Prakash Building, 6th floor, Tilak Marg, Relief Road, AHMEDABAD – 380 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bengaluru","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Karnataka. Email: oio.bengaluru@cioins.co.in. Phone: 080 - 26652048 / 26652049. Address: Office of the Insurance Ombudsman, Jeevan Soudha Building,PID No. 57-27-N-19 Ground Floor, 19/19, 24th Main Road, JP Nagar, Ist Phase, Bengaluru – 560 078."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhopal","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Madhya Pradesh, Chhattisgarh. Email: oio.bhopal@cioins.co.in. Phone: 0755 - 2769201 / 2769202 / 2769203. Address: Office of the Insurance Ombudsman, 1st floor,\"Jeevan Shikha\", 60-B,Hoshangabad Road, Opp. Gayatri Mandir,Arera Hills Bhopal – 462 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhubaneswar","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Odisha. Email: oio.bhubaneswar@cioins.co.in. Phone: 0674 - 2596461 /2596455/2596429/2596003. Address: Office of the Insurance Ombudsman, 62, Forest park, Bhubaneswar – 751 009."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chandigarh","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Punjab, Haryana (excluding Gurugram, Faridabad, Sonepat and Bahadurgarh), Himachal Pradesh, Union Territories of Jammu & Kashmir,Ladakh & Chandigarh. Email: oio.chandigarh@cioins.co.in. Phone: 0172-2706468. Address: Office Of The Insurance Ombudsman, Jeevan Deep Building SCO 20-27, Ground Floor Sector- 17 A, Chandigarh – 160 017."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chennai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Tamil Nadu, PuducherryTown and Karaikal (which are part of Puducherry). Email: oio.chennai@cioins.co.in. Phone: 044 - 24333668 / 24333678. Address: Office of the Insurance Ombudsman, Fatima Akhtar Court, 4th Floor, 453, Anna Salai, Teynampet, CHENNAI – 600 018."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Delhi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Delhi & following Districts of Haryana - Gurugram, Faridabad, Sonepat & Bahadurgarh. Email: oio.delhi@cioins.co.in. Phone: 011 - 46013992/23213504/23232481. Address: Office of the Insurance Ombudsman, 2/2 A, Universal Insurance Building, Asaf Ali Road, New Delhi – 110 002."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Guwahati","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Assam, Meghalaya, Manipur, Mizoram, Arunachal Pradesh, Nagaland and Tripura. Email: oio.guwahati@cioins.co.in. Phone: 0361 - 2632204 / 2602205 / 2631307. Address: Office of the Insurance Ombudsman, Jeevan Nivesh, 5th Floor, Near Pan Bazar , S.S. Road, Guwahati – 781001(ASSAM)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Hyderabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Andhra Pradesh, Telangana, Yanam and part of Union Territory of Puducherry. Email: oio.hyderabad@cioins.co.in. Phone: 040 - 23312122 / 23376991 / 23376599 / 23328709 / 23325325. Address: Office of the Insurance Ombudsman, 6-2-46, 1st floor, \"Moin Court\", Lane Opp.Hyundai Showroom , A. C. Guards, Lakdi-Ka-Pool, Hyderabad - 500 004."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Jaipur","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Rajasthan. Email: oio.jaipur@cioins.co.in. Phone: 0141- 2740363. Address: Office of the Insurance Ombudsman, Jeevan Nidhi – II Bldg., Gr. Floor, Bhawani Singh Marg, Jaipur - 302 005."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kochi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Kerala, Lakshadweep, Mahe-a part of Union Territory of Puducherry. Email: oio.ernakulam@cioins.co.in. Phone: 0484 - 2358759. Address: Office of the Insurance Ombudsman, 10th Floor, Jeevan Prakash,LIC Building, Opp to Maharaja's College Ground,M.G.Road, Kochi - 682 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kolkata","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: West Bengal, Sikkim, Andaman & Nicobar Islands. Email: oio.kolkata@cioins.co.in. Phone: 033 - 22124339 / 22124341. Address: Office of the Insurance Ombudsman, Hindustan Bldg. Annexe, 7th Floor, 4, C.R. Avenue, KOLKATA - 700 072."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Lucknow","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Districts of Uttar Pradesh : Lalitpur, Jhansi, Mahoba, Hamirpur, Banda, Chitrakoot, Allahabad, Mirzapur, Sonbhabdra, Fatehpur, Pratapgarh, Jaunpur,Varanasi, Gazipur, Jalaun, Kanpur, Lucknow, Unnao, Sitapur, Lakhimpur, Bahraich, Barabanki, Raebareli, Sravasti, Gonda, Faizabad, Amethi, Kaushambi, Balrampur, Basti, Ambedkarnagar, Sultanpur, Maharajgang, Santkabirnagar, Azamgarh, Kushinagar, Gorkhpur, Deoria, Mau, Ghazipur, Chandauli, Ballia, Sidharathnagar. Email: oio.lucknow@cioins.co.in. Phone: 0522 - 4002082 / 3500613. Address: Office of the Insurance Ombudsman, 6th Floor, Jeevan Bhawan, Phase-II, Nawal Kishore Road, Hazratganj, Lucknow - 226 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Mumbai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: List of wards under Mumbai Metropolitan Region excluding wards in Mumbai – i.e M/E, M/W, N , S and T covered under Office of Insurance Ombudsman Thane and excluding areas of Navi Mumbai. Email: oio.mumbai@cioins.co.in. Phone: 022 - 69038800/27/29/31/32/33. Address: Office of the Insurance Ombudsman, 3rd Floor, Jeevan Seva Annexe, S. V. Road, Santacruz (W), Mumbai - 400 054."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Noida","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Uttarakhand and the following Districts of Uttar Pradesh: Agra, Aligarh, Bagpat, Bareilly, Bijnor, Budaun, Bulandshehar, Etah, Kannauj, Mainpuri, Mathura, Meerut, Moradabad, Muzaffarnagar, Oraiyya, Pilibhit, Etawah, Farrukhabad, Firozbad, Gautam Buddh nagar, Ghaziabad, Hardoi, Shahjahanpur, Hapur, Shamli, Rampur, Kashganj, Sambhal, Amroha, Hathras, Kanshiramnagar, Saharanpur. Email: oio.noida@cioins.co.in. Phone: 0120-4027589. Address: Office of the Insurance Ombudsman, Bhagwan Sahai Palace 4th Floor, Main Road, Naya Bans, Sector 15, Distt: Gautam Buddh Nagar, U.P-201301."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: offices and jurisdiction","url":"https://www.cioins.co.in/Ombudsman","note":"Addresses, phone numbers, e-mail and the states or districts each Ombudsman office covers."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Patna","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Bihar, Jharkhand. Email: oio.patna@cioins.co.in. Phone: 0612-2547068. Address: Office of the Insurance Ombudsman, 2nd Floor, Lalit Bhawan, Bailey Road, Patna 800 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Pune","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Goa and State of Maharashtra excluding areas of Navi Mumbai, Thane district,Palghar District, Raigad district & Mumbai Metropolitan Region. Email: oio.pune@cioins.co.in. Phone: 020-24471175. Address: Office of the Insurance Ombudsman, Jeevan Darshan Bldg., 3rd Floor, C.T.S. No.s. 195 to 198, N.C. Kelkar Road, Narayan Peth, Pune – 411 030."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: register a complaint online","url":"https://cioins.co.in/Complaint/Online","note":"Council for Insurance Ombudsmen. Free. For disputes with an insurer after its own grievance process; the office is chosen by where you live (see the offices list)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Thane","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Area of Navi Mumbai, Thane District, Raigad District, Palghar District and wards of Mumbai , M/East, M/West, N, S and T. Email: oio.thane@cioins.co.in. Phone: 022-20812868/69. Address: Office of the Insurance Ombudsman, Jeevan Chintamani Building, 2nd Floor,Near New RTO Office, Louis Wadi,Vasantrao Naik Mahamarg, Thane (West)- 400604."},{"purpose":"grievance","kind":"official","name":"National Consumer Helpline","url":"https://consumerhelpline.gov.in/public/","note":"Government consumer helpline; can take up a complaint before you go to a consumer commission."},{"purpose":"port","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"notice":"Information, not advice. IndiaInsurances is not an insurer or an insurance intermediary, does not sell insurance and earns no commission. Policy terms change and your own policy schedule can differ: always confirm with the policy document and the insurer before you buy or claim.","cite_as":"Kotak Get Assured Income Now (UIN 107N141V03), IndiaInsurances, https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-get-assured-income-now-107n141v03"}