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  • Kotak e-Term Plan

    Kotak e-Term Plan is a pure term plan that provides a high level of protection to your loved ones in your absence.

  • Kotak e-Assured Savings Plan

    Kotak e-Assured Savings Plan not only provides affordable protection but also helps accrue wealth for accomplishing your upcoming financial aims by giving guaranteed benefits.


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Kotak Credit Term Group Plan

Secure your clients and your company too

In today’s competitive market scenario, credit institutions want to protect the interests of customers as much as they want to protect their own. The Kotak Credit Term Group Plan is a cost effective solution. It provides life cover to a group of borrowers of credit institutions such as banks, retail finance providers etc., where the life assured is the borrower and the credit institution is the beneficiary.

This is only to the extent of the outstanding loan; and the rest of the amount is paid to the nominee of the life assured. It is a non-participating yearly renewable plan. In the unfortunate event of death of the member during the term of the policy, the outstanding loan amount would be repaid by Kotak Life Insurance, relieving the member’s family of the loan liability and eliminating risk of loss due to death of the borrower to the credit institution.

Key features

  • Eliminates risk of loan default in the event of death

    In the event of a member's death, Kotak Life Insurance will take on all loan amounts and pay the credit institution.

  • Financial relief to the family

    The borrower's family is relieved of the financial and emotional burden of paying the outstanding loan amount.

  • Facilitate competitive pricing for lender

    With greater financial security, a credit organisation now has an edge over competitors and can afford to price credit products at more competitive rates to attract customers. The customers also benefit with better rates on loans.

  • Cost-effective plan

    Since it works on group buying principle, the Kotak Credit Term Group Plan is extremely cost-effective.

  • Convenient administrative and medical procedures

    The documentation process is hassle-free, and the medical examination norms are relaxed (subject to applicable conditions). However non-medical limit will vary by loan type, borrower's age and tenure of the loan.


  • Age criteria

    • Entry age: Minimum: 18 years | Maximum: 64 years, Maturity age: Maximum: 64 years or an earlier age chosen by the Credit Institution for compulsory groups
  • Policy Term

    • 1 Year, renewable annually
  • Policy payment mode

    • Annual or monthly payments
  • Premium Modal Factor

    • Annual - 100%, Monthly - 8.5%


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

  • The premium paid by the credit institution could be considered as part of business expenses and may be tax deductible*
  • Any premium paid by a member in his/her capacity as an individual will be eligible for tax deduction* under Section 80(C) of the Income Tax Act, 1961.
  • Benefits received by the members’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

Suicide claim during the first year of the policy will not be covered for all members. This is a non participating term cover for groups

Kotak Credit Term Group Plan UIN 107N006V03 Form No. N006 Ref No: KLI/13-14/E-WEB/098

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)

SMS KLIFE to 5676788 Toll Free No. - 1800 209 8800

Insurance is the subject matter of solicitation For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale .Hard copy of the information will be provided on request.


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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