Kotak Life Insurance Group Plans

bank offers group insurance plans that offers protection for individuals belonging to a particular group such as employees of an organisation. There are a variety of plans under tailor made to suit different needs.

Types of Kotak Life Group Plans

  • Kotak Term Group Plan
  • Kotak Credit Term Group Plan
  • Kotak Complete Cover Group Plan
  • Kotak Group Assure Plan
  • Kotak Group Shield Plan

Kotak Term Group Plan

Kotak Term Group Plan provides for a group of employees. A lump sum amount is paid as death benefit in case of the unfortunate death of the employee.

Benefits:
  • The plan has a group of riders which covers other risks like disability, dismemberment and functional impairment.
  • It also allows the insured to choose the premium payment mode.
  • Extend protection to spouse.

Kotak Credit Term Group Plan

Kotak Credit Term Group Plan provides life cover to a group of borrowers of a credit institution such as banks and retail financial providers.

Benefits:
  • In the event of the borrower’s death, the bank will take on the loan amount and pay the credit institution.
  • A cost effective plan.

Kotak Complete Cover Group Plan

Kotak Complete Cover Group Plan is a non-participating, single-premium plan that offers life cover to a group of borrowers of a credit institution.

Benefits:
  • Both the lender and the borrower avail benefits under this plan.
  • The borrower’s family is financially secured.
  • In the event of borrower’s death, the bank will pay the lender the remaining loan amount.

Kotak Group Assure Plan

Kotak Group Assure Plan offers is a group insurance plan that protects credit institutions from the risk of loan non-payments and also protects the family of the insured from the burden of repaying the loan in case of the insured’s death.

Benefits:
  • This plan offers comprehensive coverage. This plan not only covers the death of the insured but also offers cover for disability, critical and terminal illness.
  • It protects both the credit institution and the borrower’s family.
  • The plan takes up the responsibility of repaying the loan in case of the borrower’s death.

Kotak Group Shield Plan

Kotak Group Shield Plan helps the financial institutions in safeguarding their financial assets. It offers protection to the customers of the financial institution and provides a cover that is equal to the initial loan amount.

Benefits:
  • Provides various plan options for different need
    • Easy Group Shield
    • Group Shield
    • Group Shield Plus Disability Benefit
    • Group Shield Plus Critical Illness Benefit
    • Joint Life Option

Why Kotak Life Group Plan?

Kotak Life Group Plan offers a variety of group plans that offer life cover and also cover against loan and repayment in case of the death of insured. There is a different plan for every need of different groups. With a variety of plan options, it’s impossible to go wrong with the Kotak Life Group Plan.

Benefits

From the employers and employees of financial institutions to the Central Government, everyone can avail benefits from the different plan options of Kotak Life Group plans. Another advantage of the plan is that it not only offers life cover but it also offers cover for loans and repayment. Several of these plans even cover critical illness and disability.

Kotak Life Group Plan allows the employer or a credit institution to give provide quality life cover and protection against outstanding loan repayment for its employees and borrowers.

Tip:

If you are looking for a plan that offers more than life cover and if you are an employer who wants to provide the employees with Life cover and Loan cover, Kotak Life Group Plan is your best bet.

Example:

Consider two people A and B, who lose their lives in an accident. A had Kotak Life Group Plan while B had XYZ Life Group Plan. The pending loan amount taken from A was repaid by the bank since A was covered under the Kotak Life Group Plan which offers cover for loan repayment along with life cover while the family of B couldn’t avail that benefit as the plan opted by B only offered life cover.

This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

 4.0 / 5.0   by 1 users
Used this product? Write a review >>

Plan Benefits

Payment Options

Policy Coverage

Customer Service

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

Kotak Life Insurance Group Plans Reviews

Page 1 of 1
  • Kotak Life
    "Very good"
    0.5 4.0/5 "Great!"
    I have taken a life insurance policy from KOTAK LIFE and chosen a Kotak Assured Saving Plan . I am paying premium Rs. 35k in a year through ECS mode. Total term period of the policy is 20 years after that i will be getting some returns. This policy covers accidental benefit and also i am getting TAX benefits 80C. Customer service was good.
    Was this review helpful? 1
    , bangalore
    Reviewed on Dec 24, 2019
  • Kotak Life
    Kotak Life
    "Deserve for the customer"
    0.5 4.5/5 "Excellent!"
    I have bought the life insurance policy from Kotak Life. When i raise the complaint regarding the policy documents, within 10 minutes they have sent me a documents in mail. Every citizen of India must take the policy to secure the family. So that i have chosen the policy worth of Rs. 3.50 lakhs. I have paid the premium amount of Rs. 35000. Total term period of the policy is 10 years. I like the way they approached me and explained the policy in details.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Dec 23, 2019
  • Kotak Life
    "Asset policy to use"
    0.5 4.0/5 "Great!"
    I have chosen my life insurance policy from KOTAK Life because the policy feature is nice. The agent approached and explained me about the full policy details. I use to pay the premium amount of Rs. 1 lakh per year. Total term period of the policy is 16 years. Its a tax benefitable policy. I pay the premium through online.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 23, 2019
  • Kotak Life
    "Good Service"
    0.5 5.0/5 "Blown Away!"
    When i opened a new account with the Kotak Mahindra bank, they approached me to take a life insurance policy with them. I took the endowment plan because its a safe and secure plan. I am paying the premium amount of Rs. 15000 in a year. The bank people will give me a reminder to make the payment then i will deposit the money to my account which avoids late fee.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Dec 17, 2019
  • Kotak Life
    "Best service"
    0.5 5.0/5 "Blown Away!"
    I have life insurance for my daughter with kotak, I pay a yearly premium of Rs.6800, It is for 20 year plan I think so and it would be completed by 2022. I applied via my friend who was working in kotak before 16 to 17 years back. I am getting good services.
    Was this review helpful? 0
    , bangalore
    Reviewed on Nov 03, 2019
  • Kotak Life
    "Good"
    0.5 5.0/5 "Blown Away!"
    I have taken a personal accidental policy with Kotak Life because the benefits are good. They have charged me reasonable premium for 5L policy. The customer service and response was always excellent. The payment mode is online. I got the insurance paper through postal.
    Was this review helpful? 0
    , chennai
    Reviewed on Sep 14, 2019
  • Kotak Life
    "Moderate"
    0.5 3.5/5 "Pretty good"
    I have a life insurance with Kotak General and it was referred by a friend. I don't have customer service experience and never compared the benefits. I have paid almost Rs.3500 for a quarter. The policy coverage is 10 years and the benefits are okay.
    Was this review helpful? 0
    , bangalore
    Reviewed on Sep 10, 2019
  • Kotak Life
    "Mandatory policy for Loan"
    0.5 5.0/5 "Blown Away!"
    As part of my personal loan, they have provided me a life insurance plan from Kotak Life Insurance. It was a one time premium amount and i don't recollect about the coverage value. Along with the processing fee they have deducted about the premium amount also. I have asked them to send a soft copy of the documents to my mail id.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jul 31, 2019
  • Kotak Life
    "Good"
    0.5 5.0/5 "Blown Away!"
    Recently I have taken a term plan with Kotak Life because my friend is working with this insurance company. Their customer service is good. I got the insurance paper. I have paid the premium of Rs.8,000 to 8500 every year. I need to pay for another 35 to 40 years.
    Was this review helpful? 1
    , bangalore
    Reviewed on Jul 26, 2019
  • Kotak Life
    "Smart Life in Kotak"
    0.5 5.0/5 "Blown Away!"
    For my smart life plan in Kotak Life, I used to pay Rs. 50,000 + tax, its a traditional plan compared to all its best in the market. Its primary designed for the employee, now they removed that cap its suitable for all people. Its kind of investment for an example. If I pay Rs.1 lakh in first year from second years onwards the company give Rs. 35,000 hence I need to pay the Rs. 65,000 to next year. Hence the premium will be less its continue till the 75 years and its an incremental benefits. At the end of maturity I get the terminal amount, even it has tax benefits.
    Was this review helpful? 1
    , kolkata
    Reviewed on Jul 13, 2019
  • Kotak Life
    "Good One"
    0.5 4.0/5 "Great!"
    I have classic endowment which taken from Kotak life, per annum I pay Rs. 25,000 it has duration of 10 years. After maturity I would get the interest and sum assured as a benefits. I opt for the auto debit but I can switch to any mode since I am a staff of Kotak Life Insurance.
    Was this review helpful? 0
    , kolkata
    Reviewed on Jul 13, 2019
  • Kotak Life
    "Its Fine"
    0.5 4.0/5 "Great!"
    I took premium endowment in Kotak Mahindra life insurance, I used to pay Rs. 25,000 per annum it has the duration of 12 years. I get the best sum assurance, its covers the tax benefits under 80c and 10b. Life cover is also there but the benefit is average.
    Was this review helpful? 0
    , kolkata
    Reviewed on Jul 13, 2019
  • Kotak Life
    "GOOD"
    0.5 4.0/5 "Great!"
    I am using the life insurance policy with the KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE since from last one year, where it has the maturity period of long term added on that there are no benefits will be getting with this policy. The policy has the good service.
    Was this review helpful? 0
    , hyderabad
    Reviewed on May 29, 2019
  • Kotak Life
    "Good Policy"
    0.5 4.0/5 "Great!"
    Purchased my child policy for my son's future. I pay the premium amount which is nominal on a yearly basis. This is a educational purpose policy. I have selected the tenure period of 15 years. This policy has good features hence i have chosen it.
    Was this review helpful? 0
    , bangalore
    Reviewed on May 28, 2019
  • Kotak Life
    "Good Policy"
    0.5 4.0/5 "Great!"
    Purchased my child policy for my son's future. I pay the premium amount which is nominal on a yearly basis. This is a educational purpose policy. I have selected the tenure period of 15 years. This policy has good features hence i have chosen it.
    Was this review helpful? 0
    , bangalore
    Reviewed on May 24, 2019
  • Kotak Life
    "Excellent services"
    0.5 5.0/5 "Blown Away!"
    I have taken a term plan with Kotak Mahindra life insurance. The customer support is good and it was a easy process to buy the policy online. The sum assured and the plan benefits are good. The payment options are also satisfactory as it can be done online.
    Was this review helpful? 1
    , kolkata
    Reviewed on May 02, 2019
  • Kotak Life
    "Communication should be clear"
    0.5 1.0/5 "Really Bad"
    I was paying Rs. 5200 to Kotak General Life Insurance on month basis then I found there is no benefits. Yearly I am paying Rs. 60,000 I already paid it for 2 yeas, after 5 years they give only 20%. I wont recommend this policy, I am not happy with their service. There was no proper communication from their end.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Apr 24, 2019
  • Kotak Life
    "Satisfied"
    0.5 4.0/5 "Great!"
    I also have a money back policy at Kotak Mahindra Life insurance. The tenure is for 15 years. The premium is economical and it is paid on a yearly basis. There is a bonus I receive every few years. The sum assured is also good. The payment options are comfortable.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 15, 2019
  • Kotak Life
    "Good in all"
    0.5 4.0/5 "Great!"
    Kotak Mahindra Life insurance has good features. I have taken a term insurance. The tenure is till the age of 80 years. The sum assured would be for my nominee. The premium is nominal and I pay it on a yearly basis. The plan benefits are good overall.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 15, 2019
  • Kotak Life
    "Good for family protection"
    0.5 5.0/5 "Blown Away!"
    My organization gave me the term plan with the sum assured of Rs. 30 lakhs, I have added two nominees, Kotak Mahindra old mutual life insurance, have multiple nominees option. The premium is reasonable and they do have good claim settle ratio and they are good in the market.
    Was this review helpful? 0
    , noida
    Reviewed on Apr 06, 2019
Common Loader Icon
Page 1 of 1
reTH65gcmBgCJ7k
This Page is BLOCKED as it is using Iframes.