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.
- 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. You are advised to consult your tax adviser for details
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 107N050V04, Form No: N050 Ref No: KLI/17-18/E-WEB/50
Kotak Mahindra Old Mutual Life Insurance Ltd.
Reg No. 107
CIN : U66030MH2000PLC128503
2nd Floor, Plot # C- 12, G- Block, BKC,
Bandra (E), Mumbai - 400051
Toll Free: 1800 209 8800 (8 am to 10 pm)
SMS KLIFE to 5676788 Toll Free No. - 1800 209 8800
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.
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