Kotak Gen2Gen Income Calculator

Kotak Gen2Gen Income Plan is a non-linked, non-participating whole-life insurance plan from Kotak Mahindra Life Insurance built around passing guaranteed income and wealth on to the next generation. You pay premiums for a chosen Premium Payment Term, optionally wait through a Deferment Period, and then receive a Guaranteed Income every year for a chosen Income Payout Term - with the accumulated Gen2Gen Legacy Benefit paid out as a lump sum alongside the final income installment, and life cover throughout.

This calculator estimates the sum assured, guaranteed income, legacy benefit, and death cover using illustrative rates modeled on the shape of the plan's benefit structure. It does not reproduce Kotak Life's official benefit illustration - always confirm exact figures with your policy document or a Kotak Life advisor before making a purchase decision.

Sum Assured on Death

In line with the IRDAI minimum floor for traditional non-participating plans, the base Sum Assured is a fixed multiple of the annualized premium - 10 times for entry ages below 45, and 7 times from age 45 onwards:

\text{Sum Assured} = \text{Annual Premium} \times \begin{cases} 10 & \text{Age at Entry} < 45 \\ 7 & \text{Age at Entry} \geq 45 \end{cases}

Policy Term

Your total Policy Term is the sum of three back-to-back phases:

\text{Policy Term} = \text{Premium Payment Term} + \text{Deferment Period} + \text{Income Payout Term}

Phase	What happens
Premium Payment Term	You pay the Annual Premium each year
Deferment Period	No premiums, no income - the Gen2Gen Legacy Benefit keeps accruing
Income Payout Term	You receive the Guaranteed Income every year; the Legacy Benefit is paid as a lump sum with the final installment

Life cover (the death benefit) is active throughout all three phases.

Guaranteed Income

The annual Guaranteed Income Rate rewards a longer Premium Payment Term and a longer Deferment Period, since both mean the insurer holds your money for longer before paying it back out:

\text{Income Rate} = 5\% + (0.15\% \times \text{Premium Payment Term}) + (0.10\% \times \text{Deferment Period})

\text{Guaranteed Income} = \text{Income Rate} \times \text{Sum Assured}

This same amount is paid every year of the Income Payout Term.

Gen2Gen Legacy Benefit

A flat, non-compounding Guaranteed Addition accrues every policy year (across all three phases), at 3.5% of the Sum Assured per year. The full accrued amount is paid out as a single lump sum, the Gen2Gen Legacy Benefit, alongside the last Guaranteed Income installment:

\text{Gen2Gen Legacy Benefit} = \text{Policy Term} \times 3.5\% \times \text{Sum Assured}

Benefit Payable on Death

At any policy year, the benefit payable on death is the Sum Assured plus whatever Guaranteed Addition has accrued so far:

\text{Benefit Payable on Death} = \text{Sum Assured} + (\text{Elapsed Years} \times 3.5\% \times \text{Sum Assured})

How to use this calculator

Enter your Age at Entry.
Enter your Annual Premium.
Choose a Premium Payment Term (5, 8, 10, or 12 years).
Choose a Deferment Period (0, 5, or 10 years).
Choose an Income Payout Term (10, 15, 20, or 25 years).
Submit to see the Sum Assured, Guaranteed Income, total income received, the Gen2Gen Legacy Benefit, total payout, guaranteed death cover, and a year-by-year benefit schedule across all three phases.

Worked example

Suppose you are 35 years old, pay an Annual Premium of ₹1,00,000 for a 10-year Premium Payment Term, choose a 5-year Deferment Period, and a 15-year Income Payout Term.

Sum Assured: ₹1,00,000 × 10 = ₹10,00,000 (age at entry is below 45)
Policy Term: 10 + 5 + 15 = 30 years
Income Rate: 5% + (0.15% × 10) + (0.10% × 5) = 7%
Guaranteed Income: 7% × ₹10,00,000 = ₹70,000 every year, for 15 years
Total Income Received: 15 × ₹70,000 = ₹10,50,000
Gen2Gen Legacy Benefit: 30 × 3.5% × ₹10,00,000 = ₹10,50,000, paid with the final income installment
Total Payout: ₹10,50,000 + ₹10,50,000 = ₹21,00,000, against ₹10,00,000 of total premiums paid