Kotak Leave Encashment Group Plan

Kotak Leave Encashment Group Plan

Note: In this policy, the investment risk in investment portfolio is borne by the policyholder.

Kotak Leave Encashment Group Plan is designed to cater to the needs of Employee Leave Encashment liabilities increasing over the period of time. This product is designed to reduce the financial strain on the employer by helping them fund their Leave Encashment liabilities payable to employees. This will also help the employee fund for the leave encashment benefit systematically & effectively and release resources for your core business activities.

Key features

Market Linked Returns & Long Term Investment Growth
Provides an opportunity to invest in various market linked funds based on your risk appetite and watch your funds grow over time

Regular Additions for Higher Fund Sizes
Regular additional units will be added to the Schemes and the percent varies by fund size at the beginning of the calendar month and the rate of these additions is in the range of 0.05% to 0.50% per annum

Choice of 7 Fund Options
This plan offers 7 fund options to choose from suiting your risk appetite and investment objective

Life Insurance Coverage for Employees
Apart from Leave Encashment benefit, employees are entitled to life insurance coverage that will be payable to their families in the unfortunate event of the death

Eligibility

Eligibility
Group - Employer Employee Groups
Group Size Minimum : 10 employees ; Maximum : No Limit
Entry Age (as on last birthday) Minimum. : 18 years ; Maximum. : As per scheme rules (sub. to max. of 74 years)
Maximum Age at Maturity (as on last birthday) : As per scheme rules, sub. to max. of 75 years

Policy Term
1 year (Yearly renewable)

Sum Assured
Flat Rs. 5,000/-