Kotak Group Shield
Non-Par, Non-Linked Group Pure Risk Product
A comprehensive group insurance plan for financial institutions to safeguard their financial assets from default payments, the Kotak Group Shield Plan covers your customers’ loans and savings. Its wide-ranging life insurance cover also protects the well-being of your customers and their family members in the event of death, illness or disability.
Key Features
![Protection against a loan liability]()
Protection against a loan liability
Kotak Group Shield provides a cover that is generally equal to the initial loan amount. The benefit will be payable to the borrower/nominee/legal heir, in case of the occurrence of the insured event. It gives peace of mind to the customer's family by relieving the loan liability and eliminates the risk of non-repayment due to the unfortunate event.
![Comprehensive protection]()
Comprehensive protection
Kotak Group Shield provides protection not only in case of death of the customer but also in case of unfortunate events like: 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 Shield is available in four options as follows: Easy Group Shield, Group Shield, Group Shield Plus Disability Benefit, Group Shield Plus Critical Illness Benefit, Joint Life Option. For detailed conditions and exclusions for the above plan options, please read the brochure carefully.
Eligibility
![Eligibility]()
Plan Options Easy Group Shield
Group ShieldGroup Shield plus Disability Benefit
Group Shield plus Critical Illness BenefitGroup Size 50 Members 50 Members Age at Entry^ (last birthday) Minimum: 15 Years
Maximum:
Single Premium: 73 Years
Regular Premium : 70 YearsMinimum: 18 Years
Maximum: Single Premium: 63 Years
Regular Premium : 60 YearsCover Cease Age(last birthday) Maximum : 75 Years Maximum : 65 Years Cover Term For Single Premium
3 months to 23 months (in multiples of one month) /
• 2 Years to 30 years (in multiples of one year) (subject to maximum maturity age being less than or equal to 75)
For Regular Premium
Minimum: 5 Years
Maximum : 30 Years(subject to maximum maturity age being less than or equal to 75)For Single Premium:
Minimum: 2 Years
Maximum: 30 Years (subject to maximum maturity age being less than or equal to 65)
For Regular Premium:
Minimum: 5 Years
Maximum : 30 Years(subject to maximum maturity age being less than or equal to 65)Premium Payment Term Single Premium Or Regular: Full policy Term Single Premium or Regular : Full Policy Term Sum Assured For Easy Group Shield
Minimum: Rs. 10,000/-
Maximum: No. Limit; but shall be subject to Board approved underwriting policy
For Group Shield:
Minimum: Rs. 25,000/-
Maximum : No. Limit; but shall be subject to Board approved underwriting policyFor Group Shield Plus Disability Benefit:
Minimum: Rs. 25,000/-
Maximum: No. Limit; but shall be subject to Board approved underwriting policy
For Group Shield Plus Critical Illness:
Minimum: Rs. 100,000/-
Maximum : No. Limit; but shall be subject to Board approved underwriting policyModal Factors Yearly – 100%, Half Yearly – 51%, Quarterly – 26%, Monthly – 8.5% of annual premiums.
Modal factors not applicable for Single Premium
^Note:- In case of minor life insured, an appointee shall be required.
-#Member Cover Term of 3 months to 23 months will be allowed only where the Member Data Transfer will happen instantly or within 24 hrs.
Know More About Our Other Group Insurance Offerings
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 corporate.solutions@kotak.com
Mail your queries to us and we will answer them at the earliest.
Read about Tax benefits & Plan Disclaimer
Tax Benefits & Disclaimers
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 Benefits & Disclaimers
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 Conditions
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 Shield - UIN 107N050V07
This 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: kli.groupoperations@kotak.com
Toll Free No. – 1800 120 7856
Ref. No.: KLI/24-25/E-WEB/1081
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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