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Kotak Term Group Plan

A Non-Linked Non-Participating Group Term Life Insurance Plan

An organization is made of the people who build it with the strength of their mind and dedication of their heart.

Since these people are so important, the security of their families is precious. Being an organization of repute you may 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.

Key Features

  • Voluntary cover for employees' spouses

    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

    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

    Other advantages

    Simple and easy administrative processes, Tax- deductible premiums, Worldwide insurance coverage,Comprehensive coverage with simplified underwriting,

Eligibility

  • Eligibility

    Eligibility

    Individual borrowers and investors / co-borrowers /co-investors of the institution can be covered under this plan.

    • Group Size:
    • Min: Non Employer – Employee Group: 50 Members | Employer – Employee Group: 10 members
    • Max: No Limit
    • Age criteria: Entry Age (as on Last Birthday) Min/Max: As per Company’s Employment Policy / As per EDLI

      scheme rules

  • Eligibility

    Basic Sum Assured per Member

    • Minimum: Rs. 5,000 / As per EDLI scheme rules | Maximum: No Limit
  • Eligibility

    Policy Term

    • 1 year (Annually Renewable)
  • Eligibility

    Policy Payment Mode

    • Annual / Half-yearly / Quarterly / Monthly
  • Eligibility

    Premium Modal Factor

    • Annual 100% , Half-Yearly 51%, Quarterly 26%, Monthly 8.75%

Additional Protection with Optional Riders

  • Additional Protection with Optional Riders

    Accidental Death Benefit (ADE)

    Offers additional lump sum benefit over and above the basic sum assured will be paid upon accidental death.

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  • Additional Protection with Optional Riders

    Accidental Disability Benefit (ADB)

    Offers lump sum benefit paid upon disability claim, on top of basic sum assured.

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  • Additional Protection with Optional Riders

    Accidental Dismemberment Benefit (ADM)

    Offers lump sum benefit paid upon complete or partial loss of a limb, or loss of eyesight or hearing due to accidental causes.

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  • Additional Protection with Optional Riders

    Accidental Death, Disability and Dismemberment Benefit (ADDD)

    Offers lump sum benefit paid upon the three eventualities.

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  • Additional Protection with Optional Riders

    Critical Illness Benefit (CI)

    Offers 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.

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  • Additional Protection with Optional Riders

    Kotak Critical Illness Plus Benefit (CIP)

    Offers Critical Illness Benefit - payable upon a critical illness claim. While the benefit ceases after payment, the Death Benefit is still payable.

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  • Additional Protection with Optional Riders

    Family Benefit (FB)

    Offers Life cover for the member's spouse and three children aged between 1 and 18 years.

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  • Additional Protection with Optional Riders

    Terminal Illness Benefit (TI)

    Offers benefit payable upon claim of a terminal illness. Death Benefit will be reduced depending on payout.

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Downloads

Download the brochure to know more about the plan and how it can benefit you.

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Mail us on kli.business-solutions@kotak.com

Mail your queries to us and we will answer them at the earliest.

Read about Tax benefits & Plan Disclaimer

Tax benefits under the policy may be as per the prevailing Income Tax laws. Tax laws are subject to amendments from time to time and interpretations. Employers are advised to consult a tax expert

Terms and conditions

Kotak Term Group Plan - UIN 107N007V09, Form No. N007, Ref. No.KLI/23-24/E-WEB/649

Accidental Death Benefit (ADE) UIN - 107B005V05, 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: 107B009V06,Form No. B009, Family Benefit (FB) UIN 107B010V03, Form No. B010, Terminal Illness Benefit (TI) UIN 107B014V03, Form No. B014, Kotak Critical Illness Plus Benefit (CIP) UIN 107B015V05, Form No. B015

This is a non-unit linked, non-participating group term Life Insurance plan. For more details on risk factors,terms and conditions please read sales brochure carefully before concluding a sale. For details on riders, please refer to the Rider Brochure.

Regd. Office: Kotak Mahindra Life Insurance Company Ltd.

Kotak Mahindra Life Insurance Company Ltd.

Reg No. 107
CIN: U66030MH2000PLC128503
8th Floor, Plot # C- 12, G- Block, BKC, Bandra (E), Mumbai – 400051
Toll Free:1800 120 7856
Website: www.kotaklife.com
WhatsApp: 9321003007

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS /FRAUDULENT OFFERS

IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public

receiving such phone calls are requested to lodge a police complaint.

Trade Logo displayed above belongs to Kotak Mahindra Bank Limited and is used by Kotak Mahindra Life Insurance Company Ltd. under license.

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