Kotak Complete Cover Group Plan
Non-Par, Non-Linked, Group Pure Risk Product
Kotak Complete Cover Group Plan is protection oriented plan that provides comprehensive cover to a group of borrowers of the credit / lending institution (e.g., banks, retail finance providers). It can be customized to cover all types of loans and repayment terms while providing cover for Death, diagnosis of Terminal Illness, Critical Illness or Accidental Disability.
It also provides the option to the members to choose cover for more than actual Loan outstanding by choosing the Benefit Multiplier option. A single plan that offers the flexibility to customise insured benefit and amount and as per client’s needs.
Key Features
![Flexibility to choose from 6 plan options - to cover against death / terminal illness / critical illness / accidental disability]()
Flexibility to choose from 6 plan options - to cover against death / terminal illness / critical illness / accidental disability
The plan offers a reducing cover with 6 options to choose to meet the needs of the customer
![Flexibility to choose the level of cover with Benefit Multiplier option]()
Flexibility to choose the level of cover with Benefit Multiplier option
The plan comes with this unique feature of “Benefit Multiplier” that allows the member to decide on the level of cover to be taken against the outstanding loan amount. Benefit Multiplier can be either 100% or 110% or 120% of outstanding loan amount, to be chosen at the inception.
![Flexibility to choose premium payment option]()
Flexibility to choose premium payment option
The plan offers Single Pay, Limited Pay and Regular Pay.
![Flexibility to cover Single or Joint Life]()
Flexibility to cover Single or Joint Life
The plan offers to cover either a Single Life or Joint Life where the loan is in the name of two members
Eligibility
![Eligibility]()
Minimum Group Size
- 50 members
- 50 members
![Eligibility]()
Age at Entry (last birthday)
Life Cover Option
- Minimum: (For all Premium Payment Terms)
- For Education loan: 15 Years
- For other types of loans: 18 Years
- Maximum: Single Pay: 73 Years
- Limited and Regular Pay: 70 Years
Other Plan Options
- Minimum: 18 Years
- Maximum: 70 Years
- Minimum: (For all Premium Payment Terms)
![Eligibility]()
Maximum Maturity Age (last birthday)
- 75 Years
Minimum Maturity Age (last birthday) Life Cover Option Other Plan Options Single pay 15 Years*/18 years 18^/20 years Limited Pay 21*/24 years 24 years Regular Pay 20*/23 years 23 years *For Education loan only
^For Life Cover Plus Accelerated Terminal Illness Benefit
- 75 Years
![Eligibility]()
Cover Term
- Single Pay: 3 months to 23 months (in multiples of one month)
: 2 Years to 40 Years (in multiples of one year) - Limited Pay (5 pay): 6 Years to 40 Years
- Regular Pay: 5 years
Note: Member Cover Term of 3 month to 23 months will be allowed only where the Member Data Transfer will happen instantly or within 24 hrs.
- Single Pay: 3 months to 23 months (in multiples of one month)
![Eligibility]()
Premium Payment Mode
Single, Yearly, Half-yearly, Quarterly and Monthly
![Eligibility]()
Premium Modal Factor
Half Yearly – 51%, Quarterly – 26%, Monthly – 8.5% on annual premiums
![Eligibility]()
Sum Assured
- Minimum : Rs. 10,000
- Maximum : No Limit, subject to Board Approved Underwriting limits. Sum Assured is defined as Outstanding loan amount at inception
- Minimum : Rs. 10,000
Downloads
Download the brochure to know more about the plan and how it can benefit you.
Need help buying a plan?
Request a Relationship Manager
Mail us on [email protected]
Mail your queries to us and we will answer them at the earliest.
Read about Tax benefits & Plan Disclaimer
Tax Benefits & Disclaimers
Tax benefits under the policy will be as per the prevailing Income Tax laws and are subject to amendments from time to time. Customer is advised to take an independent view from tax consultant.
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS
IRDAI or its officials do 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
Kotak Complete Cover Group Plan; UIN: 107N018V09.
This is a Non-Par, Non-Linked, Group Pure Risk Product . For sub-standard lives, extra premium may be charged based on the KLI’s underwriting policy. This website content 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.
Kotak Mahindra Life Insurance Company Ltd. Regn. No.: 107, CIN: U66030MH2000PLC128503, Regd. Office: 8th Floor, Plot # C- 12, G- Block, BKC, Bandra (E), Mumbai - 400 051. Website: www.kotaklife.com | Email: [email protected] | Toll Free No. – 1800 120 7856 | Ref No.: KLI/24-25/E-WEB/1053
Trade Logo displayed above belongs to Kotak Mahindra Bank Limited and is used by Kotak Mahindra Life Insurance Company Ltd. under license.
Similar plans
-
Kotak Credit Term Group Plan
Kotak Credit Term Group Plan provides life cover to a group of borrowers of credit institutions where the life assured is the borrower and the credit institution is the beneficiary.
Know more -
Kotak Group Assure
Kotak Group Assure Plan protects the family of the life insured from risk of loan liability in case of the demise of the insured and it also shields credit institutions from the risk of loan non-payments due to death, illness and disability.
Know more -
Kotak Group Shield
Kotak Group Shield Plan covers your customers' loans and savings and protects the well-being of your customers and their family members in the event of death, illness or disability.
Know more