GROUP SECURE ONE

A Group Term Insurance Plan

 KOTAK GROUP SECURE ONE
A Group Term Insurance Plan
Kotak Group Secure One provides a comprehensive protection solution to your members’ in an
unfortunate event of Death or Terminal Illness. For instance, as a Professional Association, its
members will have an added advantage of life protection at affordable rates.

This is a level cover term plan that offers the following advantages:

Advantages to you Advantages to your member

• Financial security to members’ family • Comprehensive coverage with additional
creates loyalty towards you benefits
• Benefits Types ensure that you can target • Easy and hassle-free signing-up
all member • Convenient Premium Payment modes
• Ease in getting Group Insurance

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Benefits of Kotak Group Secure One
• Provides financial security to the members’ family
The plan may be used for members of Credit Co-operative societies, Self Help Groups, NGO’s,
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.

Types of Benefits available with Kotak Group Secure

One
There are two benefit types available with Kotak Group Secure One which provides different benefits
to suit varied needs of member:

1. Easy Secure:

This is a group level cover term plan in which the sum assured will be paid in the unfortunate
event of death of the insured member.

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:

• The sum assured will be paid in the unfortunate event of death of the insured member, or

• In case the insured member is diagnosed with a Terminal Illness, the sum assured is paid to
the member and consequently the cover under the group policy will cease for the insured
member. Terminal Illness is a non-correctable/non-curable medical condition or a non-
response to specific disease therapy (which is very likely to culminate in death within a year
- to be certified by the treating specialist).

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Tax Benefit

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.

Eligibility criteria
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 1 year; annually renewable

Sum Assured • Minimum: 5,000
(` per member) • Maximum: As per Board Approved Underwriting Policy

Premium • Minimum: Premium corresponding to the minimum Sum Assured

• Maximum: NA

Premium Payment Term 1 year; annually renewable

Premium Payment Mode Yearly, Half Yearly, Quarterly, Monthly

Modal Factors Yearly - 100%, Half Yearly - 51%, Quarterly - 26%,

Monthly - 8.5% of annual premiums.

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Terms and Conditions
1. Conditions for Terminal Illness
• The medical condition should be incurable as per independent medical practitioner (based on
consultation with relevant medical specialist). The prognosis of the disease is explained to the
insured by the treating specialist.
• There is no improvement in the condition of the insured for last 6 months and with the current
treating specialist opines that with treatment modalities, the possibility of improvement is remote
and is likely to culminate into death within a year.

The Company’s Chief Medical Officer shall study the case in line with medical papers and
certificate from treating physician and give the final decision on the claim. The Company reserves
the right for independent assessment.

* Medical practitioner is a person who holds a valid registration from the medical council of any state
of India and is thereby entitled to practice medicine within its jurisdiction and is acting within the
scope and jurisdiction of his license.

2. Exclusions

• In case of death of insured member due to suicide within first 12 months from the date of
commencement of cover i.e. the date when the Member was first covered as a member of the
Group under the Group Secure One plan of the Insurer, no benefits under the Policy shall be
payable and nominee of the insured person shall be paid 80% of the total premiums paid
(excluding Goods and Services Tax and Cess) by the insured member under the Policy.

• In addition to the above for Secure Plus benefit type:

a. Terminal Illness diagnosis in the presence of Human Immunodeficiency Virus (HIV)

infection is excluded.

b. Terminal illness arising from self-inflicted injuries or attempted suicide within the one year
from the commencement of member cover/ date of revival of member cover whichever is
later, is excluded.

3. Grace Period

There is grace period of 30 days for, half- yearly and quarterly mode, and 15 days for monthly
mode.

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4. Lapse and Revival

The Master Policyholder or Member may revive the policy anytime within six months from the due
date of the first unpaid premium and payment of outstanding premiums together with interest
(currently calculated at 9% p.a. on the due premium). The interest rate may be revised from time
to time with prior approval from IRDAI. The option to revive the Policy is available only for
Premium payment modes other than annual mode. The Member cover can be revived subject to
prevailing option’s revival conditions and board approved underwriting policy.

5. Surrender

In the event of voluntary surrender/ cancellation of insurance cover by the insured member
following surrender value shall be payable:

• Within Freelook Period:

Free look cancellation Amount = Premium (net of Goods and Services Tax and Cess, as
applicable) × (Outstanding days to next Premium Payment /365) - Stamp duty and Medical
expenses, if any

In case of premium being borne by the Master Policyholder, post exercising of Freelook by the
Policyholder, all the benefits payable under the policy shall be null and void.

• Post Freelook Period:

No surrender value is payable

Where the Member pays the Premium, and the Master Policyholder surrenders the Master
Policy, the members of the group will be given the option to continue life cover till the end of
their respective tenure with same terms and conditions.

6. In the event of claim the benefits shall be payable to the member/nominee as applicable.

7. The Insurer is liable for any claim if the premium in respect of the concerned member is received
by the Insurer/Master policyholder, subject to underwriting, if any and the Policy is in force.

8. Free look Period

In case Master Policyholder/Member is not agreeable to any of the provisions stated in the policy,
then he/she has the option of returning the Policy/ COI, stating the reasons thereof within 15 days
from the date of the receipt of the Policy/COI. The cancellation request should be submitted to
nearest Branch of the Insurer or sent directly to the Insurer’s Head Office. On receipt of letter
along with the original Policy document/ COI Insurer shall refund the Premium paid after
deducting the proportionate risk premium, medical charges (if any) and stamp duty. A Policy/ COI
once returned shall not be revived, reinstated or restored at any point of time and a new proposal
will have to be made for a new policy.

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9. Goods and Services Tax and Cess
Goods and Services Tax and Cess, as applicable shall be levied on all applicable charges as per the
prevailing tax laws. In case of any statutory levies, cess, duties etc., as may be levied by the
Government from time to time, the Company reserves its right to recover such statutory charges
from the policyholder(s). Goods and Services Tax and Cess shall be levied over and above the
premium amount as per applicable tax laws.

10. Nomination and Assignment

Nomination will be in accordance with provisions of section 39 of the Insurance Act, 1938 as
amended from time to time. Assignment will be in accordance with provisions of section 38 of
the Insurance Act, 1938 as amended from time to time.

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Section 41 of the Insurance Act, 1938 as amended from time to time:

(1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to
any person to take or renew or continue an insurance in respect of any kind of risk
relating to lives or property in India, any rebate of the whole or part of the commission
payable or any rebate of the premium shown on the policy, nor shall any person taking
out or renewing or continuing a policy accept any rebate, except such rebate as may be
allowed in accordance with the published prospectuses or tables of the insurer:

(2) Any person making default in complying with the provisions of this section shall be
liable for a penalty which may extend to ten lakh rupees.
About Us
Kotak Mahindra Life Insurance Company Ltd. is a 100% owned subsidiary of Kotak Mahindra
Bank Limited (Kotak) which provides world-class insurance products with high customer empathy. Its
product suite leverages the combined prowess of protection and long term savings. Kotak Life
Insurance is one of the fastest growing insurance companies in India and has covered over several
million lives.
For more information, please visit the company's website at https://insurance.kotak.com

Kotak Mahindra Group

Kotak Mahindra Group is one of India's leading banking and financial services organizations, offering
a wide range of financial services that encompass every sphere of life. From commercial banking, to
stock broking, mutual funds, life insurance and investment banking, the Group caters to the diverse
financial needs of individuals and the corporate sector.
For more information, please visit the company’s website at www.kotak.com

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRADULENT 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.

TOLL FREE 1800 209 8800

SMS KLIFE to 5676788
clientservicedesk@kotak.com
https://insurance.kotak.com

Kotak Group Secure One - UIN: 107N098V03, Form No: N098. Ref. No.: KLI/19-20/E-PB/104

This is a non-participating term group plan. The sales brochure gives only the salient features of the plan. Please refer
the Policy Document for specific details on all terms and conditions.

Kotak Mahindra Life Insurance Company Ltd. Regn. No.: 107, CIN: U66030MH2000PLC128503, Regd. Office:
2nd Floor, Plot # C- 12, G - Block, BKC, Bandra (E), Mumbai - 400 051. Website: https://insurance.kotak.com | Email:
clientservicedesk@kotak.com; | Toll Free No. 1800 209 8800.

Trade Logo displayed above belongs to Kotak Mahindra Bank Limited and is used by Kotak Mahindra Life
Insurance Company Ltd.