Kotak Gratuity Group Plan
“IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER”
A Non-Participating Unit Linked Group Savings Product
Gratuity is one of the vital aspects of employee benefits, that helps you retain the best of talent. But with increasing salaries and tenure, gratuity liability might also increase. You can relieve the liability with a comprehensive and effective gratuity plan that can help you reduce business costs and meet the funding needs to make gratuity payments. Kotak Gratuity Group Plan (KGGP) - a Unit-linked Group Gratuity Plan that will not only help you fund for the gratuity obligation systematically & effectively but will also help you release resources for your core business activities. It can help you avail tax benefits as applicable to approved gratuity funds as well.
Key Features
![Market Linked Returns & Long Term Investment Growth]()
Market Linked Returns & Long Term Investment Growth
Investing your Gratuity fund in a unit linked investment portfolio exposes you to a variety of market instruments. This plan enables you to reward your employees without putting a financial stress on your core business in the long run
![Regular Additions for Higher Fund Sizes]()
Regular Additions for Higher Fund Sizes
For fund sizes above the prescribed limits, additional units will be added to the schemes regularly, and the percentage addition will vary by fund size at the beginning of the calendar month.
![Choice of 7 Fund Options]()
Choice of 7 Fund Options
This plan offers 7 fund options to choose from suiting your risk appetite and investment objective.
![Life Insurance Coverage for Employees]()
Life Insurance Coverage for Employees
Apart from Gratuity benefit, employees are entitled to life insurance coverage that will be payable to their families in the unfortunate event of the death.
Eligibility
![Eligibility]()
Eligibility
- Group - Employer - Employee Groups
- Group Size – Minimum : 10 employees; Maximum: No Limit
- Entry Age (as on last birthday)
Maximum Age at Maturity (as on last birthday) : As per scheme rules, subject to maximum of 76 years
Min: 18 years
Max: As per scheme rules, subject to maximum of 75 years- Group - Employer - Employee Groups
![Eligibility]()
Policy Term
- 1 year (Yearly renewable)
![Eligibility]()
Sum Assured
- Min: Rs. 10,000
- Max: As defined in the scheme rules, subject to the underwriting policy of the insurer.
![Eligibility]()
Contribution/Premium*
- Min: ₹2,00,000 at inception Max: No limit
![Eligibility]()
Contribution Frequency
- Yearly, Half-yearly, Quarterly, Monthly
- Contributions may be revised based on the actuarial valuation of the scheme as per AS(15) / Ind AS 19 (Revised)
Note:
*Contribution and premium have the same meaning, i.e. the amount paid by the trustee towards the Gratuity liability of the Master Policyholder.
Downloads
Download the brochure to know more about the plan and how it can benefit you.
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Read about Tax benefits & Plan Disclaimer
Risk Factors
- The Investment risk in the Unit Linked product is borne by the Master Policyholder.
- Unit Linked Insurance products are different from traditional insurance products and are subject to risk factors.
- The premium paid in Linked Insurance policies are subject to investment risk associated with capital markets and the NAVs of the units may go up or down based on the performance of the fund and factors influencing the capital market, and the insured is responsible for his/her decisions.
- Kotak Mahindra Life Insurance Company Ltd. is only the name of the Insurance Company and Kotak Gratuity Group Plan is only the name of the unit linked insurance contract and does not in any way indicate the quality of the contract, its future prospects, or returns.
- The funds offered under this contract are the name of the funds and do not in any way indicate the quality of these funds, their future prospects, and returns.
- The past performance of other Funds of the Company is not necessarily indicative of the future performance of the funds.
- Please know the associated risks and the applicable charges from your insurance agent or the intermediary or policy document of the insurer. All benefits payable under the policy are subject to the tax laws and other financial enactments in force from time to time.
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 Gratuity Group Plan - UIN No.: 107L010V07.
This is a non-participating unit-linked group savings product. 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/1088
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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