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A Pure term group insurance plan

In this age of competition where technology and systems are available to every organization, it's the people that differentiate the good from the great.

Your organization has people - Your customers as well as your employees - that are of immense value to you. One of their prime concerns is the security and safety of their families. Being an organization of repute you would like to share this responsibility by providing them with a solution that meets their need.

Kotak Term Group Plan provides life cover to the member, by paying a lump sum benefit to the beneficiary in case of an unfortunate event. There is also an option available for the member to opt for additional voluntary life cover for self and spouse.

There is also a range of riders available to cover other risks like disability, dismemberment, illness, family benefit and functional impairment. It is an ideal solution that provides security to the families of your members in case of an adversity.

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Key Features

Voluntary cover for employees' spouses: Many employees work to support the needs and wants of their loved ones, which is why we extend the protection to their spouses for a nominal additional premium. Knowing their loved ones are well taken care of, your employees can truly give their best at work.

Choice of preferred premium payment mode
Depending on your organization's current needs, you can choose to opt for annual, half-yearly, quarterly and monthly premium payments.

    Other advantages.
  • Simple and easy administrative processes
  • Tax- deductible premiums
  • Worldwide insurance coverage
  • Comprehensive coverage with simplified underwriting

Additional protection
Enhance your protection with these riders:

  • Accidental Death Benefit (ADE UIN - 107B005V03)
    Additional lump sum benefit over and above the basic sum assured will be paid upon accidental death.
  • Accidental Disability Benefit(ADB) UIN 107B008V03
    Lump sum benefit paid upon disability claim, on top of basic sum assured.
  • Accidental Dismemberment Benefit(ADM) UIN- 107B006V03
    Lump sum benefit paid upon complete or partial loss of a limb, or loss of eyesight or hearing due to accidental causes.
  • Accidental Death, Disability and Dismemberment Benefit(ADDD) UIN 107B007V03
    Lump sum benefit paid upon the three eventualities.
  • Critical Illness Benefit(CI) UIN 107B009V03
    Critical Illness Benefit - payable if the member suffers from one of the 12 critical illnesses covered and the death benefit for the member will reduce to the extent of the payout.
  • Kotak Critical Illness Plus Benefit(CIP UIN 107B015V02
    Critical Illness Benefit - payable upon a critical illness claim. While the benefit ceases after payment, the Death Benefit is still payable.
  • Family Benefit(FB UIN 107B010V03)
    Life cover provided for the member's spouse and three children aged between 1 and 18 years..
  • Terminal Illness Benefit(TI UIN 107B014V03)
    Benefit payable upon claim of a terminal illness. Death Benefit will be reduced depending on payout.
  • Daily Task Benefit(DT UIN 107B016V02)
    Benefit payable upon claim of member's inability to perform daily activities; after payment the member's benefit will cease. Death Benefit will be reduced depending on payout.
    • Additional premiums apply with these riders. Please read a Group Rider brochure carefully for details.
Read Brochure

Eligibility

Individual borrowers and investors / co-borrowers /co-investors of the institution can be covered under this plan.
Group size Min : 50
Max : No limit
Age at entry (Age Last Birthday) Min : As per scheme rules or 18 years whichever is higher
Max : As per scheme rules or 74 years whichever is lower
Basic sum assured per member Minimum: Rs: 1,000
Maximum: No limit
Cover Term 1 year (renewable indefinitely)
Policy Payment Mode Annual / Half-yearly / Quarterly / Monthly
Premium Modal Factor Premium Mode :         Premium Modal factor
Annual                         100%
Half-Yearly                    51%
Quarterly                       26%
Monthly                        8.75%

Tax benefits & Disclaimer

Premiums paid for employees may be listed as business expenses and are tax-deductible as per Income Tax Act, 1961. Tax laws are subject to change. Please consult your tax advisor for details.

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS
IRDA clarifies to public that
IRDA or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.
IRDA does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.

For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale.
Insurance is the subject matter of the solicitation.
This website content is not a brochure and only gives the salient features of the plan. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale. For more details on rider benefits, please refer to the rider brochure.

Kotak Mahindra Old Mutual Life Insurance Ltd.

Regn. No: 107,
Regd. Office: 4th Floor, Vinay Bhavya Complex,
159 A, CST Road, Kalina, Santacruz East, Mumbai: 400 098
Toll Free: 1800 209 8800 (8 am to 10 pm)
Website:http://insurance.kotak.com
Email: clientservicedesk@kotak.com


Terms and conditions
Kotak Term Group Plan - UIN 107N007V04, Form No. N007, Ref. No. KLI/13-14/E-WEB/094
Accidental Death Benefit ADE UIN - 107B005V03, Form No. B005,
Accidental Disability Benefit ADB UIN 107B008V03, Form No. B008,
Accidental Dismemberment Benefit ADM UIN- 107B006V03, Form No. B006,
Accidental Death, Disability and Dismemberment Benefit ADDD UIN 107B007V03, Form No. B007,
Critical Illness Benefit CI UIN 107B009V03, Form No. B009,
Family Benefit FB UIN 107B010V03, Form No. B010,
Terminal Illness Benefit TI UIN 107B014V03, Form No. B014,
Daily Task Benefit DT UIN 107B016V02, Form No. B016,
Kotak Critical Illness Plus Benefit CIP UIN 107B015V02, Form No. B015

/// Know about KOTAK LIFE INSURANCE.

  • 1.Kotak Mahindra group, offering wide range of Fin services.

    ..

    Kotak Mahindra group, offering wide range of Fin services.

  • 2: our journey, since inception.

    2: our journey, since inception.

  • 3:Kotak Life insurance plans as per IRDA guidelines.

    ..

    3:Kotak Life insurance plans as per IRDA guidelines.

  • 4:Kotak Life products - Revised, Improved, Customer Friendly.

    4:Kotak Life products - Revised, Improved, Customer Friendly.

  • 5: Core purpose - PALTS

    5: Core purpose - PALTS

  • 6:Invest with us.

    6:Invest with us.

  • 7:India's most respected private Life Insurance co.

    7:India's most respected private Life Insurance co.



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