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A Non-Participating Group Term Insurance Plan
Kotak Group Secure One provides a comprehensive protection solution to your members' in the unfortunate event of Death or Terminal Illness. For instance, as a Professional Association, its members will have the added advantage of life protection at affordable rates.
Features Advantages Benefits Additional Benefits Taxes Eligibility
The plan may be used for members of Credit Co-operative societies, Self Help Groups, NGOs, Government schemes, Professional Association, etc., where the sum assured is payable to the nominee in a lump sum in case of the sudden demise of the insured member.
Protection of a targeted savings amount
This plan may also be used by depositors. In this case, the sum assured, which is the targeted savings amount of the deposits, is payable to the nominee in case of the sudden demise of the insured member.
Comprehensive solution
Kotak Group Secure One provides protection not only in case of death of the member but also in case of Terminal Illness.
Comprehensive cover through a range of riders
Provision for additional benefit through Riders at nominal cost.
cyberfaqs
There are two benefit types available with Kotak Group Secure One, which provides different benefits to suit the varied needs of members:
1. Easy Secure:
This is a group-level cover term plan in which the sum assured will be paid in the unfortunate event of the insured member's death.
2. Secure Plus:
This is a group level cover term plan that additionally provides Terminal Illness cover. The benefits of this plan are as follows:
To apply for a Personal Loan, you'll need a valid identity proof (PAN Card, passport, Aadhaar card, Voter’s ID Card, or driving licence), residence proof (passport, Aadhaar card, or Driving licence), last three months' bank statement, salary slip for the last three months (for salaried employees), and 2-3 passport-sized photographs.
Eligibility criteria include being between 21 and 60 years, having a minimum monthly income of Rs 25,000 (Delhi and Mumbai) or Rs 20,000 (other parts of the country), and a CIBIL score of 750 or above.
Yes, individuals with a Rs 15,000 salary can easily avail of small cash loans ranging from Rs 50,000 to Rs 5,00,000. The actual loan amount will depend on the lender.
Tax benefits
Tax benefits under the policy will be as per the prevailing Income Tax laws and are subject to amendments from time to time. It is advised to consult your tax advisor for details.
| Particulars | Description |
|---|---|
| Group size | Min: 50 members |
| Entry Age (Last birthday) | • Minimum: 18 years |
| • Maximum: 79 years | |
| Cover Cease Age (Last birthday) | Maximum: 80 years |
| Cover Term | Minimum: 1 month | Maximum: 5 years (in multiples of one month) |
| Note: Coverage for Integral months are allowed. In case if the Master policyholder opts for riders then only 1 year cover tenure is available and other cover options are not available. | |
| One Year Renewable Term (OYRT) policies are available and applicable only for one year term. | |
| Sum Assured (` per member) | • Minimum: 5,000 |
| • Maximum: As per Board Approved Underwriting Policy | |
| Premium | • Minimum: Premium corresponding to the minimum Sum Assured |
| • Maximum: NA | |
| Premium Payment Term | Single Pay & 1 year annually renewable |
| Note: For Cover Term greater than 1 year, only Single Pay shall be available | |
| Premium Payment Mode | Single, Yearly, Half Yearly, Quarterly, Monthly |
| Modal Factors | Yearly - 100%, Half Yearly - 51%, Quarterly - 26%, Monthly - 8.5% of annual premiums. |
To apply for Kotak Group Secure One, tap here <>. You can also visit your nearest Kotak Bank branch or contact your Relationship Manager.
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS
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.
Kotak Group Secure One - UIN: 107N098V05, Form No: N098. Kotak Accidental Death Benefit Rider, UIN: 107B005V06, Form No: B005, Kotak Accidental Disability Benefit Rider, UIN: 107B008V03, Form No: B008, Kotak Critical Illness Plus Benefit Rider, UIN: 107B015V06, Form No: B015 This is a non-participating term group plan. This is an annually renewable plan. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. For more details on riders, please read the Rider Brochure.
Kotak Mahindra Bank Ltd. is a corporate agent of Kotak Mahindra Life Insurance Company Limited with Corporate Agency License No: CA0250. Regd. Office: 27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400051. The plan is offered and underwritten by Kotak Mahindra Life Insurance Company Limited. Participation by Kotak Mahindra Bank Ltd.’s customers to buy insurance policy is purely voluntary and there is no direct or indirect linkage between the provision of banking services offered by Kotak Mahindra Bank Ltd. to its customers and products/services offered by Kotak Mahindra Life Insurance Company Ltd. Insurance products/services are obligations of Kotak Mahindra Life Insurance Company Ltd and are not guaranteed by Kotak Mahindra Bank Ltd. Kotak Mahindra Life Insurance Company Ltd. shall be liable or responsible for all matters arising out of or pertaining to the insurance products/ services offered by it.
Kotak Mahindra Life Insurance Company Ltd., Regn. No.:107, CIN: U66030MH2000PLC128503, Regd. Office: 8th Floor, Plot # C - 12, G-Block, BKC, Bandra (E), Mumbai - 400 051. Website: www.kotaklife.com | Toll Free No.: 1800 120 7856. Ref. No.: KLI/23-24/E-WEB/1941
Trade Logo displayed above belongs to Kotak Mahindra Bank Limited and is used by Kotak Mahindra Life Insurance Company Ltd. under license.
