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Kotak e-Term Plan is a pure term plan that provides a high level of protection to your loved ones in your absence.
The Kotak Health Shield Plan helps secure your finances in times of sudden medical expenses related to illness such as Cardiac, Liver, Neuro and Cancer (all early and major stages of illness /conditions of Cancer); along with offering protection for Personal Accident - in case of accidental death or disability.
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A Non-Linked, Non-Participating, Fixed Benefit Health Plan
Health is the greatest blessing for all human beings. Today, every individual is aware that the numbers of illnesses are increasing day by day, and so are the related costs for treatment. For most, treatment in the best facility could lead to a dent in the pockets while for some, it may lead to selling assets and mounting debts. Therefore, it is important to plan for your health emergencies before it is too late.
Presenting Kotak Health Shield, a fixed benefit health insurance plan which covers early or major stages illnesses/conditions related to Cancer, Cardiac, Liver, Neuro and also offers financial protection against Personal Accident - accidental death or disability.
Kotak Health Shield is a critical illness insurance plan that covers the most common life-threatening health conditions in India – cancer, cardiac problems, liver diseases, and neurological disorders. You can also include financial cover for an unfortunate event resulting from an accident in your plan.
Mr Satish, a 35-year-old male, opts for Cancer Shield with Sum Assured of ₹30 lakhs & Cardiac Shield with Sum Assured of ₹20 lakhs for a period of 40 years. He also opts for all the Optional Benefits - Daily Hospital Cash Benefit (₹5,000/day), Waiver of Premium & Income Benefit. For this, he pays a regular premium of ₹15,435~ per annum.
(~The above premium figure is exclusive of Goods and Services Tax and Cess, as applicable. Goods and Services Tax and Cess are subject to change from time to time as per the prevailing tax laws.)
Five different Plan Options are available under Kotak Health Shield health insurance plan. You can select any one option, or more, as per your health care needs. The options include:
Plan Option A: Personal Accident Shield
Your job may need you to travel a lot, or you may love to visit new places. Or you may have to work in unsafe conditions.
In case of any eventualities due to an accident, your dependents may have to face financial challenges. If you have pending debts, they will have to shoulder the EMIs.
The Personal Accident Shield safeguards your loved ones against such economic distress. The lump-sum payout in case of an accident-related death or disability can cover their immediate expenses and unpaid loans.
However, the Personal Accident Shield option is not available as a standalone option. You can opt for it only when you select at least one other option available under the plan.
Plan Option B: Cardiac Shield
Heart diseases have emerged as one of the leading medical conditions in India. It is no longer an age-related health issue. A shocking study reveals that 35% of the patients hospitalised due to their first heart attack were below the age of 35 years.
The treatment for cardiac conditions often requires lifelong medication. Complications can lead to surgeries. The Cardiac Shield Option can shield your resources against the financial strain of such long-term medical care.
Plan Option C: Cancer Shield
The National Cancer Registry Programme Report 2020 by the Indian Council of Medical Research (ICMR) predicts India’s cancer load to reach 13.9 lakh cases in 2020. Fortunately, recent advancements in medicine enable complete recovery from this deadly disease. However, treatment can be expensive.
Moreover, even after successful surgery to remove a malignant tumour, annual diagnostic scans are vital to ensure remission. The lump-sum payout from the Cancer Shield health insurance can cover such expenses.
Plan Option D: Neuro Shield
The estimated frequency of severe neurological disorders, like brain stroke in India, is from 14 to 17 per 1000 individuals. Yet, in terms of health insurance, India lags significantly in coverage for neurological diseases.
The Neuro Shield Option offers payouts on the diagnosis of various nerve-related ailments and can make your recovery process free from financial anxieties.
Plan Option E: Livo Shield
Incidences of liver diseases are mostly linked to erratic lifestyles nowadays. The seriousness of the issue becomes clear from the staggering figure of 10 lakh liver cirrhosis cases reported in India every year. With liver transplant prices going up to about ₹37 lakhs (USD 50,000), costs for adequate medical care in liver diseases can be prohibitive.
The Livo Shield Plan can provide the financial fallback to help you get the best possible treatments.
Personal Accident Shield
Cardiac Shield, Neuro Shield & Livo Shield
The benefits payable are as follows:
Stipulations for the payouts for Minor Conditions:
The Kotak Health Shield medical insurance plan offers the flexibility to increase your coverage at an additional premium. The options include:
1. Daily Hospitalization Cash Benefit
This benefit offers a specified lump-sum payout for each day of hospitalisation for an illness covered under the plan.
For hospitalisation in a non-ICU room, the daily payout choices include:
For hospitalisation in an ICU room, the payable amount doubles. You can select one of the options when you buy the plan, and it remains fixed regardless of the expenses you incur.
The payouts can cover any shortfall or incidental expenses arising during the hospital stay. You can raise the claim only for hospitalisation longer than 24 hours.
Yearly allowance for the number of days of hospitalisation –
Maximum number of hospitalisation days for which claims are payable during the entire policy tenure –
2. Waiver of Premium Benefit
With this benefit, you can keep your coverage active without paying any premiums for three policy years after receiving a claim for a minor condition listed in your policy.
You can claim this benefit as many times as you need during the policy period. This benefit can provide relief if you need to take a break from your work life while recovering from your illness.
With this add-on cover, you can receive 1% of the Sum Assured every month for 12 months, under the following conditions:
This benefit can cover your family’s living costs in case of a job loss due to poor health.
Kotak Health Shield provides several value-added services irrespective of benefits availed under the base plan. These wellness benefits, built into your coverage, include:
Tax Benefit of Kotak Health Shield Plan
Regarding the penetration of health insurance, India is sadly behind, and so the government incentivises buying health covers with tax reliefs on health insurance. The premiums you pay for Kotak Health Shield are eligible for deductions from your taxable income. This tax relief is available under Section 80D of the Income Tax Act, 1961. The payouts are also tax-free.
The applicable tax benefits are subject to the prevailing tax laws.
Policy Term of the Life Assured & Spouse may or may not be same based on their respective age at entry.
Single (applicable only for policy term of 5 years) | Equal to Policy Term
*There is an overall cap of Rs 1 Cr. on the Sum Assured applicable per life in case multiple plan options are chosen together excluding Personal Accident Shield. The Life Assured has the flexibility to allocate the Sum Assured under the opted Plan Options as per his/ her requirement.
Additionally, the Life Assured may also choose to add Rs 50 Lacs under Personal Accident Shield.
Individual /Spouse Cover^
Note - ^Under Spouse Cover, the benefits shall be extended to the Spouse of the Life Assured also.
|Base Options||Regular Premium||Single Premium|
|Personal Accident Shield||750||850||950||1050|
|Option E : Livo||360||300||1,230||1,070|
#The minimum premium is for an 18-year old for 10 lakhs Sum Assured for all Plan Options.
Since coverage for pre-existing diseases does not apply to Kotak Health Shield, a declaration of health can suffice to buy the plan. However, this critical illness insurance plan provides payouts on the first diagnosis of the diseases covered under the policy. Hence, to claim the insured sum, you must submit a medical test report confirming the diagnosis.
The Accidental Death benefit provides a lump-sum payout to your nominee in case of an unfortunate fatality within 120 days of an accident. An accident here is defined as an unexpected and unintentional incident caused by an external, violent and visible agent.
Under this medical policy, the insurer is not liable to provide payouts if the health claim arises due to:
The conditions mentioned above also apply to claims under the Personal Accident Shield cover. Also, such claims will not be valid if the death or disability results from:
Health plan insurance policies provide cashless treatment only on admission at hospitals having tie-ups with the insurance company. Kotak Health Shield does not limit you to undergo treatment only at such network hospitals. Instead, it provides a lump-sum payout upfront on the detection of diseases covered under the plan. You can use this sum to undergo treatment at any medical care centre of your choice.
You can contact a Life Advisor for Kotak Health Shield health insurance online by filling up the request form at the official website. You can also call on the toll-free number 1800 209 8800 between 8:00 am and 10:00 pm to get help with buying the plan.
Ill health can result in income loss, making the premiums for your health insurance policy a burden. Kotak Health Shield dispenses with the need for paying premiums to keep your health cover in-force after the diagnosis of the listed medical conditions. With the optional premium waiver benefit, after raising a valid claim, you need not pay the premiums for the next three years to keep your coverage active.
You can claim deductions from your taxable income for premiums you pay for your Kotak Health Shield health policy. The deductions are subject to the conditions under Section 80D of the Income Tax Act, 1961. The payouts are also tax-exempt.
You need the following documents to get financial cover against critical illnesses with the Kotak Health Shield Plan:
Call our toll free number and our representative will help you buy the most suitable plan.
Send a "Hi" to 93210 03007, from your registered mobile number.
Tax Benefits You may avail of tax benefits under Section 80D of Income Tax Act, 1961 subject to conditions as specified in those sections. Tax benefits are subject to change as per tax laws. Customer is advised to take an independent view from tax consultant.
Terms & Conditions Kotak Health Shield UIN No.: 107N105V01, Form No. N105. This is a non-participating, fixed benefit, health insurance plan. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale. Ref. No: KLI/20-21/E-WEB/683.
Kotak Mahindra Life Insurance Company Ltd. Reg No. 107; CIN : U66030MH2000PLC128503; Regd. Office: 2nd Floor, Plot # C- 12, G- Block, BKC, Bandra (E), Mumbai – 400051 | Toll Free: 1800-209-8800|Website: www.insurance.kotak.com | Email: email@example.com
Assist America Contact Details
Assist America Medical Emergency Services (India) Private Limited, #509, 5th Floor, Filix Towers, Opp Asian Paints, LBS Marg, Bhandup-West, Mumbai-400 078 | Customer Care No: 1800-425-2955 / +91 040-23321204 | Email ID: firstname.lastname@example.org |Website: https://www.assistamerica.com/| Second Medical Opinion - https://smo.assistamerica.com/
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