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A Unit Linked Group Gratuity Insurance Plan

IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER.

Gratuity is not just a statutory obligation but also a very important tool today to retain and attract talented employees. However, gratuity liability of the employer tends to increase with an increase in the salary and tenure of employment.

A comprehensive and effective gratuity plan will help you in reducing business costs and meet the funding needs to make gratuity payments. It will also help you avail tax benefits as applicable to approved gratuity funds.

Kotak Life Insurance offers Kotak Gratuity Group Plan (KGGP) - a Unit-Linked Group Gratuity Plan that will not only help you fund for the gratuity obligation systematically & effectively but also will help you release resources for your core business activities.

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Key Features

Market-Linked returns and long-term investment growth
Investing your gratuity fund in a Unit-Linked investment portfolio exposes you to a variety of market instruments. A gratuity plan like this enables you to reward your talented and loyal employees without putting a financial stress on your core business in the long run.

Regular Additions for higher fund sizes
For fund sizes above the prescribed limits, regularly additional units will be added to the Schemes and the percentage addition will vary by fund size at the beginning of the calendar month

Choice of 5 Fund Options
The plan offers 5 fund options to choose from suiting your risk appetite and investment objective.

Life Insurance coverage for employees' advantages
Apart from Gratuity benefit, employees are entitled to life insurance coverage that will be payable to their families in the unfortunate event of their death.

Risk Factors

  • Unit Linked Life Insurance Products are different from traditional insurance products and are subject to risk factors

  • The premium paid in Linked Insurance Products are subject to investment risk associated with capital markets and the NAVs of the units may go up or down based on the performance of the fund and factors influencing the capital market and insured is responsible for his/ her decisions.

  • Kotak Mahindra Old Mutual Life Insurance Ltd. is only the name of the company and Kotak Gratuity Group Plan is only the name of the linked insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns.

  • o The fund offered under this contract is the name of the fund and do not in any way indicate the quality of these plans, their future prospects and returns.

  • The past performance of other plans of the Company is not necessarily indicative of the future performance of the fund.

  • Please know the associated risks and the applicable charges, from your insurance agent or the intermediary or policy document of the insurer.

  • All benefits payable under the policy are subject to the tax laws and other financial enactments, in force from time to time.

Eligibility:   Employer - Employee groups

Group size Min : 10
Max : No limit
Age at entry (Age Last Birthday) Min : As specified in the Trust Rules or 18 years whichever is higher
Max : One year before Normal Retirement Age as specified in the Trust Rules or 74 years whichever is lower
Maturity age (Last birthday) As per scheme rules, subject to maximum of 75 years
Cover Term 1 year (renewable indefinitely)
Sum Assured Min: Rs:1,000
Max: As defined in the scheme rule
Gratuity Contribution Min: Rs: 2,00,000 at inception
Max: No limit
nsurance is the subject matter of solicitation. This is a non-participating Unit-Linked group plan. For more details on risk factors, terms and conditions please read the Sales brochure carefully before concluding a sale.
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Tax benefits & Disclaimer

Tax Benefits

  • Contributions to an approved Gratuity fund is deductible under section 36 (1)(v) of the Income Tax Act, 1961, subject to the conditions contained therein
  • Income earned from investments received by an approved Gratuity fund is tax-exempt under Section 10(25)(iv) of the Income Tax Act, 1961
  • For Government employees, Gratuity receipts at the time of retirement are completely tax free
  • For Non-government employees, Gratuity receipts are tax-exempt up to the limit of 10 lakhs under Section 10(10) of the Income Tax Act, 1961
  • Tax benefits are subject to change in the tax laws.
  • You are advised to consult your tax advisor for details.
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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


Kotak Gratuity Group Plan UIN: 107L010V04, Form No: L010; Ref. No.: KLI/13-14/E-PB/096

/// 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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