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Kotak Group Shield

A Group Life 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.

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

Downloads

Download the brochure to know more about the plan and how it can benefit you.

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Call on toll free number 1800 120 7856(8:00 am to 10:00pm)

Call our toll free number and our representative will help you buy the most suitable plan.

Mail us on kli.groupoperations@kotak.com

Mail your queries to us and we will answer them at the earliest.

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. 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/18-19/E-WEB/125

Regd. Office:

Kotak Mahindra Life Insurance Company Ltd.(Formerly known as 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)
Website: http://insurance.kotak.com
Email: clientservicedesk@kotak.com

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.

BEWARE OF SPURIOUS / FRAUD PHONE CALLS

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.

Similar plans

  • Kotak Group Assure

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  • Kotak Complete Cover Group Plan

    Kotak Complete Cover Group Plan is a non-participating single-premium plan that provides life cover to a group of borrowers of the credit /lending institutions.

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