Kotak Term Group Plan


Success, more often than not is a result of teamwork, with organizations striving to build better teams that can overcome hurdles together. Kotak Term Group Plan is an designed to protect the whole team, which includes not just employees of a particular organisation but also their families. The feeling of knowing that one is looked after is a huge boost to the confidence and workmanship of an individual employee, helping him/her strive harder to achieve greater heights, and this is what aims to achieve.

Eligibility Criteria of Kotak Term Group Plan

Entry Age of member

Minimum – 18 years

Maximum – 74 years

Group Size (No of members)

Minimum – 50

Maximum – No upper limit

Basic Sum Assured (per member)

Minimum – Rs 1,000

Maximum – No upper limit

Key Features of Kotak Term Group Plan


Pure Term Group Insurance Plan


Death benefit – Beneficiaries get a lump sum benefit in the event of any untoward incident.

Spouse Cover – An employee's spouse can also be covered for an additional premium payment.


Group Plan

Premium paying term

1 year

Premium paying modes

Monthly, quarterly, half-yearly or annual

Premium modal factor

Premium Mode

Premium Modal Factor



Half yearly







Lapsed policies can be revived within 6 months of due date without any proof of good health.

A medical check up might be required for lapsed policies after 6 months.

Free Look Period

A 15 day period is provided as free look period wherein a policyholder can return the policy if he/she does not agree with any terms and conditions of the plan.


One can surrender the policy by giving a written intimation to stating the same.

Advantages of Kotak Term Group Plan

Tax Benefits

The premium amount paid by an organization gets tax benefits under the Income Tax Act of 1961.


The entire process has been simplified to reduce hassles and fast track applications.

Global Coverage

This plan offers worldwide insurance coverage.


An organization can choose from flexible payment modes, depending on their financial standing.


Policyholders can choose to customise their policies with additional riders.

How The Plan Works

Kotak Term Group Plan is designed for organizations looking to protect their employees and their families from untoward incidences. Administrators of said organization can cover all their employees (minimum 50) for a period of 1 year by paying the premium amount. Additional riders can be availed to enhance the protection, albeit at an extra premium.

Premium Payment

This plan of Kotak Life is for a period of one year and one can opt for a monthly, quarterly, half-yearly or annual mode of payment.


Kotak Term Group Plan comes with a host of additional riders which one can opt for by paying an additional premium. These riders are mentioned below.

  • Additional Death Benefit – In the event of accidental death of a member, his/her beneficiary will receive an additional lump sum benefit.
  • Accidental Disability Benefit – In the event of accidental disability, a member will receive a lump sum in addition to the basic sum assured.
  • Accidental Dismemberment Benefit – This rider offers a compensation in case of any injury which results in either a loss of limb, hearing or eyesight.
  • Accidental Death, Disability and Dismemberment Benefit – This rider offers protection against any of the three eventualities, that is death, disability and dismemberment.
  • Critical Illness Benefit – This covers 12 critical illnesses and will cease post payment for any of the mentioned illness.
  • Family Benefit – This offers protection to the spouse and children of a member.
  • Terminal Illness Benefit – This offers protection against a terminal illness.

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

 0.0 / 5.0   by 0 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 Term Group Plan Reviews

Page 1 of 1
  • Kotak Life
    "Good Service"
    0.5 4.0/5 "Great!"
    I have taken Accidental coverage policy . The policy tenure is for 1yr .This policy need to renew it every year,My premium amount is 2000,I have taken this policy through online .The agent clearly explained the process .It is a group accidental insurance policy ,the service is good and payment will be done through Credit Card.The Overall service is good.
    Was this review helpful? 0
    , new delhi
    Reviewed on Feb 25, 2019
Common Loader Icon
Page 1 of 1
This Page is BLOCKED as it is using Iframes.