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Kotak Group Shield Plan and Policy

Kotak Group Shield Plan and Policy - The Kotak Group Shield is a life insurance plan that covers and provides benefits for not only death but critical illness, disability or terminal illness as well. The comprehensive plans have to be chosen according to the needs of an individual who wishes to get the insurance. Insurance premiums can be paid one time or annually, half-yearly, quarterly or monthly.

Eligibility - Kotak Group Shield

Plan Options

Easy Group Shield

Group Shield plus Disability Benefit Group Shield

Group Shield plus Disability Benefit Group Shield

Group Size

50 members

50 members

Age of Entry

Min: 15 years and Max: Single Premium: 73 years, Regular premium: 70 years

Min: 18 years and Max: Single Premium: 63 years, Regular premium: 60 years

Cover Cease Age

Maximum of up to 75 years

Maximum of upto 65 years

Cover Term

Single Premium: Min: 2 years and Max: 30 years, Regular premium: Min: 5 years and Max: 30 years

Single Premium: Min: 2 years and Max: 30 years, Regular premium: Min: 5 years and Max: 30 years

Premium Payment Term

Full policy term for both single premium or Regular premium

Sum Assured

For Easy Group Shield Min : Rs. 5,000 and Max : No. Limit and For Group Shield Min : Rs.25,000/- Max : No. Limit

For Group Shield Plus Disability Benefit Min: Rs. 25,000 Max : No. Limit and For Group Shield Plus Critical Illness Min: Rs. 100,000 and Max : No. Limit

Features - Kotak Group Shield

Plan Type

Group Credit Level Cover Insurance Plan

Basis

Floater

Policy Term

Single Premium: Min: 2 years and Max: 30 years, Regular premium: Min: 5 years and Max: 30 years

Single Premium: Min: 2 years and Max: 30 years, Regular premium: Min: 5 years and Max: 30 years

Coverage

Kotak Group Shield provides protection not only in case of death of the insured but disability, Critical illness or terminal illness as well through various plans within this plan.

There are five options to choose from, that include:

Easy Group Shield

Group Shield

Group Shield Plus Disability Benefit

Group Shield Plus Critical Illness Benefit

Joint Life Option

Options

Benefit Given When

Easy Group Shield

Benefit On the first Death of any of the two lives

Group Shield

On Death or Terminal Illness (whichever occurs first) of any of the two lives.

Group Shield plus Disability Benefit

On Death or Terminal Illness or Accidental Permanent Disability (whichever occurs first) of any of the two lives.

Group Shield plus Critical Illness

On Death or Terminal Illness or Critical Illness (whichever occurs first) of any of the two lives.

Free look Period

15 days from the date of first premium reciept

Premium Paying Modes

Single Premium or Regular Premium

Benefits - Kotak Group Shield

  • Easy sign-up Process: The procedure to be followed for this insurance application is easy and hassle-free.
  • Protects The Insured From Liabilities of Loan: It is also equivalent to an initial loan amount. In case of an unfortunate event the sum assured is sufficient enough to pay off loan liabilities.
  • Various Coverage Areas Based on Various Needs: Coverage provided for death or terminal illness or critical illness or disability which are based on the option selected. In the case of occurrence of the covered event, the insured, his family or nominees.
  • Tax Benefits: Tax benefits can be availed under Section 80C and Section 10 (10D) of Income Tax Act, 1961.

Kotak Group Life Insurance Plans and Policy

Group Gratuity/Leave Encashment Kotak Gratuity Group Plan
Kotak Gratuity Plus Group Plan
Kotak Secure Return Employee Benefit Plan
Kotak Leave Encashment Group Plan
Group Superannuation Kotak Secure Return Superannuation Plan
Kotak Superannuation Group Plan – II
Group Term Kotak Term Group Plan
Kotak Credit Term Group Plan
Kotak Group Secure
Kotak Group Secure One
Kotak Raksha Group Micro Insurance Plan
Group Credit Kotak Group Assure
Kotak Group Shield
Kotak Complete Cover Group Plan

Kotak Saving and Investment Plans
Kotak Invest Maxima
Kotak Single Invest Advantage
Kotak Wealth
Kotak Gramin Bima
Kotak Sampoorn Bima Micro-Insurance Plan
Kotak Single Invest Plus
Kotak Premier Life
Kotak Classic Endowment
Kotak Premier Endowment
Kotak Assured Income
Kotak Assured Savings
Kotak Assured Income Accelerator
Kotak Premier Moneyback
Kotak Platinum
Kotak Ace Investment
Kotak Premier Income
Kotak Guaranteed Savings
Kotak Retirement Plans
Kotak Lifetime Income Plan
Kotak Premier Pension Plan
Kotak Child Life Insurance Plans
Kotak Headstart Child Assure

Kotak Group Insurance Plans
Kotak Group Insurance Plans
Kotak Gratuity Group Plan
Kotak Gratuity Plus Group Plan
Kotak Secure Return Employee Benefit Plan
Kotak Leave Encashment Group Plan
Kotak Secure Return Superannuation Plan
Kotak Superannuation Group Plan – II
Kotak Term Group Plan
Kotak Credit Term Group Plan
Kotak Group Secure
Kotak Group Secure One
Kotak Raksha Group Micro Insurance Plan
Kotak Group Assure
Kotak Group Shield
Kotak Complete Cover Group Plan