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Protect your family's financial future.

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Insurance and Investment in one plan.

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A plan that offers high cover with affordable premiums

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Create wealth through bonus payout from 1st policy year

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A plan that offer guaranteed returns and financial protection for your family.

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Insurance and Investment in one plan.

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Kotak Guaranteed Fortune Builder

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A plan that offers immediate or deferred stream of income

Kotak Loan Protect Cover

A Non-Participating Non-Linked Group Life Insurance Pure Risk Product

Kotak Loan Protect Cover is a single premium 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.

For added flexibility, the plan offers a shorter coverage term option, where members can select a coverage term shorter than the loan tenure.

Key Features

  • 6 flexible plan* options with multiple protection choices:

    6 flexible plan* options with multiple protection choices:

    Including death, terminal illness, critical illness, and accidental disability—to ensure outstanding loans are settled during unforeseen events.

  • Single Premium, Reducing Cover:

    Single Premium, Reducing Cover:

    Offered on a one-time premium payment with the sum assured reducing in line with the loan schedule.

  • Joint Life Option:

    Joint Life Option:

    Covers two borrowers under one plan, with benefits payable on the first claim event.

  • Benefit Multiplier Choices:

    Benefit Multiplier Choices:

    Policyholders can enhance coverage to 100%, 110%, or 120% of the outstanding loan amount to account for interest or unpaid EMIs.

  • Flexible Coverage Term:

    Flexible Coverage Term:

    Option to choose a shorter protection term while maintaining alignment with the loan’s original loan schedule.

  • Flexibility to choose moratorium period:

    Flexibility to choose moratorium period:

    Option to choose from 1 Year to 8 Years as per the Loan Schedule.

Eligibility

  • Eligibility
    Parameter Details
    Minimum Group Size 50 members
    Age at Entry
    (last birthday)
    Life Cover Option
    For Education loan:
    15 Years to 73 Years
    For other types loans:
    18 Years to 73 Years
    Other Plan Options*
    18 Years to 70 Years
    Minimum Maturity Age Life Cover Options:
    16 years for Education Loan and
    19 years for Others type of Loans

    Other Plan Options*;
    19 years
    Maximum Maturity Age
    (last birthday)
    75 Years
    Premium Payment Term Single Premium
    Cover Term
    In Months: In Years:
    Loan Tenure: 24-59 5-30
    Cover Tenure: 12-58 1-29
    Premium Payment Mode Single
    Sum Assured Minimum: ₹10,000

    Maximum: No Limit, subject to Board Approved Underwriting limits

    Sum Assured is defined as Outstanding loan amount at inception
    Premium Modal Factor Modal factors not applicable for single premium

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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

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 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

Kotak Loan Protect Cover; UIN: 107N142V01.

This is a Non-Participating, Non-Linked, Group Life Insurance 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.

*Plan Options:

1. Life Cover

2. Life Cover Plus Accelerated Terminal Illness Benefit

3. Life Cover Plus Accelerated Critical Illness Benefit – A

4. Life Cover Plus Accelerated Critical Illness Benefit – B

5. Life Cover Plus Accelerated Critical Illness Benefit – C

6. Life Cover Plus Accelerated Accidental Disability Benefit

Note:

1) Premium amount will vary depending upon the plan option chosen

2) Accelerated benefit is not an additional benefit under the Options – 2, 3, 4, 5 & 6.

It only facilitates earlier payment of the insured benefit on prior occurrence of the covered events.

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: kli.groupoperations@kotak.com| Toll Free No.: 1800 120 7856 | Ref No.: KLI/25-26/E-WEB/1849.

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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