• Kotak Term Group Plan

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Overview

    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 insurance cover 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 Kotak Term Group Plan 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

    Type

    Pure Term Group Insurance Plan

    Coverage

    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.

    Basis

    Group Plan

    Premium paying term

    1 year

    Premium paying modes

    Monthly, quarterly, half-yearly or annual

    Premium modal factor

    Premium Mode

    Premium Modal Factor

    Annual

    100.00%

    Half yearly

    51.00%

    Quarterly

    26.00%

    Monthly

    8.75%

    Revival

    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.

    Surrender

    One can surrender the policy by giving a written intimation to Kotak Life Insurance 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.

    Simple

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

    Global Coverage

    This plan offers worldwide insurance coverage.

    Flexibility

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

    Customization

    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.

    Riders

    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

    Kotak Term Group Plan Reviews

  • Page 1 of 12 1 2 3 4 5
    • Kotak Life Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance with Kotak Life from last 2 years and it is a long term policy. I am happy with the returns and tax benefits of this policy. I pay my premium once in 3 months and i am convenient with the payment options. The maturity period for this policy is 10 years.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 14, 2018
    • Kotak Life Life Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      I am having the Life insurance policy with the KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE company. I got this policy around 14years ago. This policy has the tenure of 20years. I pay the premium amount of Rs,2500 every year once. The plan benefits and the coverage is good with this policy and i am satisfied using it .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • Kotak Life Life Insurance
      "Good Service"
      0.5 3.5/5 "Pretty good"
      I've been using the life insurance policy from Kotak Mahindra . I pay a premium of 70000 per annum. The main objective of this policy is to save on taxes. I never had any issues with their services. Overall it has been a good experience.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 07, 2018
    • Kotak Life Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      Kotak Mahindra Life Insurance service is good. I have one policy with Kotak Mahindra for the tenure period is for 15 years. The online portal is good with Kotak Mahindra Life Insurance service. The payments will be deducted through Ecs. It was a good experience with Kotak Mahindra Life Insurance service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 23, 2018
    • Kotak Life Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      Kotak Mahindra Life Insurance service is good. I have one policy with Kotak Mahindra for the tenure period is for 15 years. The online portal is good with Kotak Mahindra Life Insurance service. The payments will be deducted through Ecs. It was a good experience with Kotak Mahindra Life Insurance service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 23, 2018
    • Kotak Life Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have taken a term insurance with Kotak Life since 2011, it is a long term policy with the tenure period of 25 years. I pay a premium of Rs 12000 every year through net banking and i am convenient with the payment options. I have a health coverage of Rs 35 lakhs and accidental coverage of Rs 50 lakhs in this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 18, 2018
    • Kotak Life Life Insurance
      "Very good"
      0.5 5.0/5 "Blown Away!"
      I have a Life insurance policy taken from Kotak Life, I got very good plan benefits on this policy, the policy is for 16 years, and I have to pay only for 8 years and I receive the money after 8 years. I pay the premium on yearly basis, over all I am happy with the policy and satisfied with it.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 12, 2018
    • Kotak Life Life Insurance
      "Better policy to use"
      0.5 4.0/5 "Great!"
      I have got the Life insurance policy from the KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE company around 3years. This policy has the tenure of 12years . I pay the premium amount of Rs,1,00,000 per annum. I pay the premium annually, I pay it through online.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 05, 2018
    • Kotak Life Life Insurance
      "Better"
      0.5 4.0/5 "Great!"
      I am using Kotak Mahindra for past 7 years. I have taken a endowment policy. I used to pay Rs.30,000 per annum as a premium. I got the insurance papers on time. The total tenure period is 7 years. After the maturity period I will get the sum assured value.
      Was this review helpful? 0
      , kolkata
      Reviewed on Mar 13, 2018
    • Kotak Life Life Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken Life insurance with LIC.The premium amount is 18,000.The policy is taken eight years back.The sum assured is 1.05 lakhs.The policy is for 15 years.I don't have claim experience with them.The plan name are benefits.I make online payments.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 10, 2018
    • Kotak Life Life Insurance
      "Average Service"
      0.5 3.5/5 "Pretty good"
      Kotak Mahindra Life insurance service is good. The payments procedure was been online and also through cheques. The new schemes and offers are good. I have one policy with Kotak Mahindra. It is a average service from Kotak Mahindra Life insurance service.
      Was this review helpful? 0
      , namakkal
      Reviewed on Mar 05, 2018
    • Kotak Life Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I got the LIFE INSURANCE policy from KOTAK LIFE around 2 years ago. The customer support service is good with the KOTAK LIFE, I pay the premium through ECS mode which is a easiest way to do pay the premium . I pay the premium of Rs,35000 annually. This policy has the tenure of 15years .
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 27, 2018
    • Kotak Life Life Insurance
      "Good"
      0.5 2.0/5 "Expected more"
      I am having the life insurance policy with the Kotak mahindra life insurance company. Customer service is good one for me with them and the coverage value is not aware by my end. Services are fine one with the Kotak mahindra insurance company.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 09, 2018
    • Kotak Life Life Insurance
      "Okay"
      0.5 3.0/5 "Satisfactory"
      I am having the life insurance policy with the Kotak mahindra old mutual life insurance company. I would like to say that the customer service is okay one for me and the coverage value is not yet aware. Premium amount is nominal one for me with them.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Feb 02, 2018
    • Kotak Life Life Insurance
      "Good Life Insurance"
      0.5 5.0/5 "Blown Away!"
      I have taken a Child plan from them. I have been paying a premium of Rs.44000 annually for this scheme. When my child reaches the age of 8 and upto 15th year I will be getting Rs.44000 yearly as a return and also a good sum assured. This is a good investment I have made.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 23, 2018
    • Kotak Life Life Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I had taken a life insurance from Kotak Mahindra life Insurance .I pay a minimum premium amount its debited from my salaried account once in year.I get a good policy policy coverage amount.The executives do respond on time without much delay.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 12, 2018
    • Kotak Life Life Insurance
      "Dis satisfactory"
      0.5 3.5/5 "Pretty good"
      Earlier I had taken a life insurance with Kotak. It was taken for a limited period of 3 years since I had a financial problem and have been forced to close this insurance. After completing the 3 years, I had submitted back and the total amount was not satisfactory.
      Was this review helpful? 0
      , mumbai
      Reviewed on Dec 30, 2017
    • Kotak Life Life Insurance
      "Wonderful"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Kotak mahindra old mutual life insurance company. Coverage value is good one with the Kotak mahindra old mutual life insurance company. Everything is fine one with the Kotak mahindra old mutual life insurance company.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 30, 2017
    • Kotak Life Life Insurance
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have taken a Life Insurance with Kotak Mahindra Life.The premium amount is paid online or by an ECS.I get a policy coverage of 8-9 lakhs.I don't have a claim experience with them so far.I pay a premium amount of 62,000 per annum.The website is easy to understand and navigate.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 21, 2017
    • Kotak Life Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I have Life insurance policy with Kotak Mahindra Mutual Life insurance from last 7 months and this is a term insurance. The tenure of this life insurance policy is 40 years and i pay a premium amount of Rs 390/ month through net banking and the payment options are convenient for me. I have a coverage amount of Rs 46 lakhs which is less when compared to other insurance policies.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Dec 16, 2017
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