Kotak Raksha Group Micro Insurance Plan

Kotak Raksha Group Micro Insurance Plan

A Non-Linked Non-Participating Group Term Life Micro Insurance Plan

Kotak Raksha Group Micro Insurance Plan is a protection oriented plan that aims to cover the socially and economically weaker sections of the society. It offers to provide security to them and their families in case of any unfortunate event. The plan provides flexibility in choosing cover options as per the needs and requirements of the members.

Key features
Flexibility to choose Plan options Level Cover or Reducing Cover
Gives flexibility to choose any of the cover options basis needs of the members at the inception.

Flexibility to cover Single or Joint Life
Depending on the need of the member the cover can be opted for either Single / Joint life.

Flexibility to pay premiums as per convenience
Premium payment options of Regular, Single or One Year Renewable Term (OYRT) are available.

Eligibility

Eligibility
Group Size:
Min: 5 | Max: No Limit

Age criteria: Entry Age (as on Last Birthday)
Minimum: 18 years | Maximum: 75 years (74 for regular pay)
Maximum Maturity age (last birthday):77 years

Basic Sum Assured per Member
Rs. 5,000 - Rs. 2,00,000 per member

Cover Term
OYRT: 1 year (Annually Renewable, indefinitely)



Term will be in multiple of one month at member level.
Master policy shall continue till the expiry of tenure of all members.

Premium Frequency
Single || Regular/OYRT- Yearly, Half-yearly, Quarterly, Monthly

Modal Factors (as % of tabulated rate)
Annual 100% , Half-Yearly 51%, Quarterly 26%, Monthly 8.75%

Premium Payment Term (PPT)
Regular, Single & OYRT