Kotak Group Assure
Non-Par, Non-Linked, Group Pure Risk Product
Secure your dreams and your family as well
Everyone has big dreams and aspirations for your family’s future and you pick the best financial loans available to bridge the financial gap. Kotak Group Assure protects the family of the life insured from risk of loan liability falling on their head in case of the demise of the insured. At the same time, it shields credit institutions from the risk of loan non-payments due to death, illness and disability. It also helps to protect customer’s assets and savings in the unfortunate event of death, illness or disability.
Key Features
![Protection against a loan liability]()
Protection against a loan liability
Kotak Group Assure is a group credit insurance policy that provides cover that is equal to the outstanding balance of the loan amount, as per the loan repayment schedule, as per the cover schedule provided by the Insurer. The benefit will be payable to the borrower/nominee/legal heir in case of occurrence of the insured event to the extent of the outstanding loan amount as per the cover schedule provided by the Insurer. It gives peace of mind to customer's family by relieving the loan liability and eliminates the risk of non-repayment due to the insured event.
![Comprehensive coverage]()
Comprehensive coverage
Kotak Group Assure is one of the group insurance plans that provides protection in case of death of the customer and also in case of other unfortunate events including: Disability, Critical illness, Terminal illness
![Various plan options for different needs]()
Various plan options for different needs
To better suit your needs, the Kotak Group Assure is available in following options: Easy Group Assure, Group Assure plus Disability Benefit, Group Assure Plus Critical Illness Benefit Joint Life Cover.
Eligibility
![Eligibility]()
Eligibility Criteria
Individual borrowers and co-borrowers of your institution can be covered under this plan.
Plan Options Easy Group Assure
Group AssureGroup Assure plus Disability Benefit
Group Assure plus Critical Illness BenefitMinimum Group Size 50 Members 50 Members ![Eligibility]()
Plan Options Easy Group Assure
Group AssureGroup Assure plus Disability Benefit
Group Assure plus Critical Illness BenefitEntry Age ^ (last birthday) Min : 15 years
Single Premium : Max: 73 years
Regular Premium: Max: 70 yearsMin : 18 years
Single Premium : Max: 63 years
Regular Premium: Max: 60 years![Eligibility]()
Plan Options Easy Group Assure
Group AssureGroup Assure plus Disability Benefit
Group Assure plus Critical Illness BenefitCover Cease Age (last birthday) Max : 75 years Max : 65 years ![Eligibility]()
Plan Options Easy Group Assure
Group AssureGroup Assure plus Disability Benefit
Group Assure plus Critical Illness BenefitCover Term For Single Premium :
Min : 2 years
Max : 30 years (subject to maximum maturity age being less than or equal to 75)
For Regular Premium :
Min : 5 years
Max : 30 years (subject to maximum maturity age being less than or equal to 75)For Single Premium :
Min : 2 years
Max : 30 years (subject to maximum maturity age being less than or equal to 65)
For Regular Premium :
Min : 5 years
Max : 30 years (subject to maximum maturity age being less than or equal to 65)![Eligibility]()
Plan Options Easy Group Assure
Group AssureGroup Assure plus Disability Benefit
Group Assure plus Critical Illness BenefitPremium Payment Term Single Premium Or Regular: Full policy Term ![Eligibility]()
Plan Options Easy Group Assure
Group AssureGroup Assure plus Disability Benefit
Group Assure plus Critical Illness BenefitSum Assured For Easy Group Assure :
Min: Rs. 10,000
Max : No limit
For Group Assure :
Min: Rs. 25,000
Max : No limitFor Group Assure plus Disability Benefit :
Min: Rs. 25,000
Max : No limit
For Group Assure plus Critical Illness Benefit :
Min: Rs. 100,000
Max : No limit^Note: - In case of minor life insured, an appointee shall be required.
![Eligibility]()
Plan Options Easy Group Assure
Group AssureGroup Assure plus Disability Benefit
Group Assure plus Critical Illness BenefitModal Factors Yearly – 100%, Half Yearly – 51%, Quarterly – 26%, Monthly – 8.5% of annual premiums.
Modal factors not applicable for Single Premium
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
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS
IRDAI or its officials do not involve in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
Tax Benefit:
As per existing tax laws, premium paid by the financial institution could be considered as part of business expenses and may be tax deductible*.
*Tax Benefits: Tax benefits under the policy will be as per the prevailing Income Tax laws and are subject to amendments from time to time. It is advised to consult your tax advisor for details.
Terms and condition
In the event of the Group member committing suicide within 12 months from the date of commencement of the cover of member, 80% of the total premiums paid will be payable to the nominee.
All references made to the loan/ savings instruments are implied to be as per the original schedule.
Kotak Group Assure - UIN 107N051V05. This is a is a non-par, non-linked, group pure risk product. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale.
Regd. Office:
Kotak Mahindra Life Insurance Company Ltd.
Reg No. 107
CIN: U66030MH2000PLC128503
8th Floor, Plot # C-12, G-Block, BKC,
Bandra (E), Mumbai - 400051
Website: www.kotaklife.com
Email: [email protected]
Toll Free No.: 1800 120 7856
Ref No.: KLI/24-25/E-WEB/1070
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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