Kotak Group Shield

A Group Credit Level Cover Insurance Plan

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.

How it works

Key Features

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
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
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

Individual borrowers and co-borrowers of your institution can be covered under this plan

Plan Options	Easy Group Shield Group Shield	Group Shield plus Disability Benefit Group Shield plus Critical Illness Benefit
Group Size	Min : 50 Members
Entry Age ^ (last birthday)	Min : 15 years Single Premium : Max: 73 years Regular Premium : Max: 70 years	Min : 18 years Single Premium : Max: 63 years Regular Premium : Max: 60 years
Cover Cease Age (last birthday)	Max : 75 years	Max : 65 years
Cover 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)
Premium Payment Term	Single Premium Or Regular: Full policy Term
Sum Assured	For Easy Group Shield : Min: Rs. 5,000 Max : No limit For Group Shield : Min: Rs. 25,000 Max : No limit	For Group Shield plus Disability Benefit : Min: Rs. 25,000 Max : No limit For Group Shield plus Critical Illness Benefit : Min: Rs. 100,000 Max : No limit

^Note:- In case of minor life insured, an appointee shall be required.

Know More About Our Other Group Insurance Offerings

Additional Protection with Optional Riders

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

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*.
As per existing tax laws, any premium paid by a customer in his/her capacity as an individual may be eligible for tax deduction under section 80C of the Income Tax Act, 1961. Benefits received by the customer’s nominee are tax free under section 10(10 D) of the Income Tax Act, 1961.

*Tax benefits under the policy will be as per the prevailing income tax laws and are subject to change in the tax laws. Customer is advised to take an independent view from tax consultant.

Terms and conditions

In the event of the Group member committing suicide within one year of the date of commencement of the cover of member, 80% of the 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 107N050V06, Form No: N050 Ref No: KLI/23-24/E-WEB/1188

Regd. Office:

Kotak Mahindra Life Insurance Company Ltd.

Reg No. 107
CIN : U66030MH2000PLC128503
8^th Floor, Plot # C- 12, G- Block, BKC,
Bandra (E), Mumbai - 400051
Toll Free: 1800 120 7856 (8 am to 10 pm)
Website: https://www.kotaklife.com
Email: kli.groupoperations@kotak.com

Toll Free No. -1800 120 7856

This is a non-participating protection oriented, term group plan. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

IRDAI is 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.

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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