Kotak Group Assure is a plan that protects the family of the policyholder from running the risk of paying loans in a situation in which the life assured is no more. It also shields credit organisations from running the risk of non-payments of loans due to permanent disability, illness, and death. It also protects the assets and savings of the life assured in case of permanent disability, illness, and death. This plan provides complete security to the policyholders by giving them coverage against death, permanent disability, and terminal illness. It is a cover term plan with the option of moratorium period.
To be eligible for the Kotak Group Assure, the applicant has to meet certain criteria. Refer to the below table for the same:
|Minimum Entry Age||18 years|
|Maximum Entry Age||A maximum age of 65 years|
|Policy Term||A maximum of 30 years|
|Maximum Maturity Age||75 years|
This plan provides protection in case of the death of the policyholder, terminal illness, critical illness, and permanent disability. The details of the sum assured and modes of payment are given below:
|Minimum Basic Sum Assured||
|Maximum Basic Sum Assured||No Limit|
|Premium Payment Mode||Full Policy Term or Single Premium|
|Premium Modal Factor||100% for yearly payment mode 8.5% for monthly payment mode|
|Extent of cover||Available everywhere|
Following are the other key features of the Kotak Group Assure:
|Debit Cards||MasterCard, Visa, Maestro, and RuPay cards are accepted|
|Credit Cards||MasterCard, Visa, Maestro, American Express, and Diners Club cards are accepted|
|Bill Junction||You can register at Bill Junction and authorize your premium payments online|
|Net Banking||You can use the Net Banking facility to make premium payments online|
|e-Wallets||Premiums can be paid through e-Wallets as well|
|Other modes||NEFT, ECS, Kotak Mahindra Bank ATM, Drop Boxes, Money Order, Branch Offices, and other immediate mobile payment services|
Kotak Mahindra Life Insurance is a joint venture between Kotak Mahindra Bank Ltd., its affiliates and the international investment and banking group Old Mutual plc. Kotak Life Insurance is one of the leading insurance companies in India selling a wide range of insurance plans. The company is known for its competitively priced insurance products and easy claim settlement process. It has been striving for years to bring to you the best of products in the insurance sector. These products not only take care of your financial needs but it takes care of your financial security and prosperity as well. Here are some of the strengths of Kotak Mahindra Life Insurance:
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