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Kotak Gratuity Group Plan

Reduce costs, yet fund gratuity payments easily

Note: “In this policy, the investment risk in investment portfolio is borne by the policyholder.”

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 and long-term investment growth

    Investing your gratuity fund in a unit-linked investment portfolio exposes you to a variety of market instruments. A gratuity plan like this enables you to reward your loyal employees without putting a financial stress on your core business in the long run.

  • Regular Additions for higher fund sizes

    For fund sizes above the prescribed limits, regularly additional units will be added to the Schemes and the percentage addition will vary by fund size at the beginning of the calendar month

  • Choice of 6 fund options

    The plan offers 6 fund options to choose from suiting your risk appetite and investment objective.

  • 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 their death.


  • Eligibility

    • Group: Employer – Employee groups
    • Group size: Minimum: 10 employees | Max: No Limit
    • Age criteria: Entry age (as on last birthday): Min: 18 years | Max: As per scheme rules, subject to maximum of 75 years, Maximum Maturity age (as on Last birthday): As per scheme rules, subject to maximum of 76 years
  • Policy Term

    • 1 year (Yearly renewable)
  • Sum Assured

    • Minimum: Rs. 5,000 | Maximum: As defined in the scheme rule, subject to the underwriting policy of the insurer.
  • Contribution/Premium

    • Minimum: Rs. 2,00,000 at inception | Maximum: No limit
  • Contribution Frequency

    • Yearly, Half-yearly, Quarterly, Monthly - Contributions may be revised based on the actuarial valuation of the scheme as per AS(15)


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

  • Contributions to an approved Gratuity fund is deductible under section 36 (1)(v) of the Income Tax Act, 1961, subject to the conditions contained therein
  • Income earned from investments received by an approved Gratuity fund is tax-exempt under Section 10(25)(iv) of the Income Tax Act, 1961
  • For Government employees, Gratuity receipts at the time of retirement are completely tax free
  • For Non-government employees, Gratuity receipts are tax-exempt up to the limit of 10 lakhs under Section 10(10) of the Income Tax Act, 1961
  • Tax benefits are subject to change in the tax laws. You are advised to consult your tax advisor for details.

Risk Factors

  • Linked Insurance Products are different from traditional insurance policies 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 insured is responsible for his/ her decisions.
  • Kotak Mahindra Old Mutual Life Insurance Ltd. is only the name of the company and Kotak Gratuity Group Plan is only the name of the linked insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns.
  • The fund offered under this contract is the name of the fund and do not in any way indicate the quality of these plans, their future prospects and returns.
  • The past performance of other plans of the Company is not necessarily indicative of the future performance of the fund.
  • 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.

Terms and conditions

Kotak Gratuity Group Plan UIN: 107L010V06, Form No: L010; Ref. No.: KLI/16-17/E-WEB/001

Regd. Office:

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 unit-linked group gratuity plan. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.


IRDAI clarifies to public that

  • IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.
  • IRDAI does not announce any bonus.
  • Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.

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