{"uin":"107L127V02","name":"Kotak Corporate Benefit Plan","url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02","insurer":{"slug":"kotak-mahindra-life-insurance","name":"Kotak Mahindra Life Insurance Company Limited","url":"https://indiainsurances.com/insurer/kotak-mahindra-life-insurance"},"line":"life","category":"ulip","category_name":"ULIPs (unit-linked plans)","irdai_type":"ULIP","kind":"product","status":"active","approved_on":"2022-09-19","withdrawn_on":null,"summary":"Kotak Corporate Benefit Plan is a non-participating, unit linked, life insurance group savings product for employee benefit schemes. The policy term and premium payment term are one year renewable, with a Rs. 10,000 sum assured for Gratuity, Leave Encashment and PRMBS and no sum assured under Superannuation.","analysis":{"state":"machine","analysed_at":"2026-10-20 01:48:20.377813+00","note":"First pass: one AI reading; every stated fact carries a verbatim quote found in the cited clause, but it has not been reviewed. Check the clause before relying on it."},"facts":[{"key":"plan_variants","label":"Plans and variants","section":"Overview","meaning":"The named plans inside this product (not cover types or payout options). Facts can differ between them.","status":"quote-verified","value":["Superannuation","Gratuity","Leave Encashment","Post-Retirement Medical Benefit Scheme (PRMBS)"],"display":"Superannuation, Gratuity, Leave Encashment and Post-Retirement Medical Benefit Scheme (PRMBS)","note":"The policy treats these as employee benefit schemes under the product; benefits differ by scheme.","quote":"Following Employee Benefit (EB) Schemes are allowed under the product Defined Benefit (DB):\n• Superannuation\n• Gratuity\n• Leave Encashment\n• Post-Retirement Medical Benefit Scheme (PRMBS) ... Defined Contribution (DC):\n• Superannuation","sources":[{"clause":"1","heading":"BENEFITS","page":14,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-1-3"}],"law":[]},{"key":"policy_term","label":"Policy term","section":"Eligibility","meaning":"How long one policy runs before it ends or must be renewed.","status":"quote-verified","value":"One year; automatically renewable annually if not terminated and sufficient fund balance is available to cover charges.","display":"One Year; automatically renewed yearly","note":"Automatic renewal takes place only if sufficient balance is available in the fund to cover charges.","quote":"Policy Term: | One Year ... Unless terminated, this Policy will be automatically renewed on the First Renewal Date hereinabove stated, and on the same day of every year thereafter and intimation of renewal will be sent to the Policyholder.","sources":[{"clause":"2(a)","heading":null,"page":7,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-2-a"},{"clause":"7","heading":"Renewal of the Policy","page":19,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-7"}],"law":[]},{"key":"claim_intimation","label":"Claim intimation deadline","section":"Claims","meaning":"How soon you must tell the insurer about a claim or hospitalisation.","status":"quote-verified","value":"All claims must be notified to the insurer in writing within 3 months of the date of the claim event, such as death, resignation or retirement.","display":"Within 3 months of the date of the claim event","note":"The insurer may condone genuine delay proved to be beyond the control of the life insured or claimant.","quote":"All claims must be notified to the Insurer in writing within 3 months of the date of the claim event (e.g. death / resignation/retirement etc), along with the necessary documents.","sources":[{"clause":"4","heading":"Claims","page":35,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-4-2"}],"law":[{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 20, 21","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_documents","label":"Claim documents","section":"Claims","meaning":"Documents the insurer asks for when you claim.","status":"quote-verified","value":["Intimation of the claim event (death) in writing in the Insurer’s format signed by the authorised representative of the Policyholder","Proof of Age of the Life Insured","Proof of Life Insured’s Membership","copy of the pay slip showing the last drawn pay","Copy of the death certificate issued by the Municipal Authority","Particulars of Claimant(s), proof of identity of the Claimant, cancelled cheque, and Last attending Doctor’s Certificate with associated medical documents","For accident or unnatural death: FIR, Post Mortem Report/Autopsy Report, final police report and viscera report if applicable","Guardian details for minor Nominee","For non-death exits: individual details to be submitted to the Policyholder for onward transmission to the Insurer"],"display":"Claim intimation, age proof, membership proof, pay slip where applicable, death certificate and claimant, bank and medical documents; accident/unnatural death requires police and post-mortem documents.","note":"The insurer reserves the right to call for additional information and documents required for claim validity.","quote":"The primary documents normally required for processing a claim are:\n1. Intimation of the claim event (death) in writing in the Insurer’s format signed by the authorised representative of the Policyholder. ... 2. Proof of Age of the Life Insured (as listed in the Annexure PA)\n3. Proof of Life Insured’s Membership as defined under this Policy\n4. In case of Schemes, apart from the documents mentioned in 1 to 3 above, a copy of the pay slip showing the last drawn pay shall be required. ... a) Copy of the death certificate issued by the Municipal Authority ... Proof of identity of the Claimant, duly certified by the Policyholder − Copy of the personalized cancelled cheque of the Claimant − Last attending Doctor’s Certificate stating the exact cause of death and all the associated medical documents\n6. If the death is due to an accident or any other unnatural cause, the following shall be required: − A certified copy of the FIR filed with the Police authorities − A certified copy of the Post Mortem Report/Autopsy Report − A certified copy of final police report and viscera report, if applicable\n7. Guardian details for minor Nominee ... 9. In case of claims due to exit from the Scheme other than death (i.e. retirement, resignation, termination, Surrender), individual details to be submitted to the Policyholder in the prescribed from, for onward transmission to the Insurer.","sources":[{"clause":"4","heading":"Claims","page":35,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-4-2"},{"clause":"4(a)","heading":null,"page":35,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-4-a"},{"clause":"4(b)","heading":null,"page":35,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-4-b"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 17","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 23","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_settlement_time","label":"Claim settlement time promised","section":"Claims","meaning":"How quickly the policy says a claim is decided or paid, and from when that is counted (intimation or last document).","status":"quote-verified","value":"The CIS states claim requirements are raised within 15 days from claim intimation; death claim settlement or repudiation is within 30 days from investigation closure or last document received date; death claim investigation is within 90 days from claim intimation.","display":"Requirements: 15 days from intimation; settlement/repudiation: 30 days from investigation closure or last document; investigation: 90 days from intimation","note":"Taken from the Customer Information Sheet; the policy wording gives the claim intimation deadline and document list but not these TATs.","quote":"• Turn Around Time (TAT) for claims settlement and brief procedure i. Raising claim requirements after lodging the claim: 15 days from date of claim intimation ii. Death claim settlement/repudiation: 30 days from investigation closure / last document received date iii. Death claim investigation: 90 days from the date of claim intimation","sources":[{"clause":"Row 13","heading":"Claims / Claims Procedure","page":2,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10718#c-row-13"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 64UM(4) to (6)","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 10","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 15","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 16","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(i), V.3(ii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.4","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 23","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"The Motor Vehicles Act, 1988: Chapter XI, insurance of motor vehicles against third party risks","section":"Section 149","url":"https://indiainsurances.com/law/motor-vehicles-act-1988"}]},{"key":"exclusions_main","label":"Main exclusions","section":"Exclusions","meaning":"What the policy does not pay for, in the policy's own words.","status":"quote-verified","value":["Suicide Exclusion: In case of death due to suicide, the Claimant of the Group Member shall be entitled to Sum Assured, if applicable, and benefits as per Scheme Rules will be payable, as available on the date of death."],"display":"Suicide exclusion: Sum Assured, if applicable, and benefits as per Scheme Rules are payable.","note":"Although headed as a suicide exclusion, the clause states what remains payable on suicide.","quote":"In case of death due to suicide, the Claimant of the Group Member shall be entitled to Sum Assured, if applicable, and benefits as per Scheme Rules will be payable, as available on the date of death.","sources":[{"clause":"1","heading":"Suicide Exclusion","page":34,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-1-6"}],"law":[{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 11","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 16","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grievance","label":"Grievance route","section":"Claims","meaning":"Who to complain to first, as stated in the policy, before going to the Insurance Ombudsman.","status":"quote-verified","value":"Complaints first go to the insurer through a branch, customer service department, toll-free number or email. If unsatisfied or no response within 14 days, the policyholder may contact the insurer’s Grievance Redressal Officer.","display":"First contact Kotak Life branch/customer service/call/email; then Grievance Redressal Officer if no response within 14 days or unsatisfied","note":null,"quote":"In case the Policyholder/ complainant has any complaint(s) or grievance(s) against the Insurer, he/ she may approach the Insurer using any of the following modes for resolution:\n• visit any of the Insurer’s nearest branches; ... • call the Insurer’s toll free number at 1800 120 7856;\n• write an email to the Insurer at kli.groupoperations@kotak.com\nEscalation mechanism of the Insurer:\nIn case the Policyholder/ complainant is not satisfied with the decision provided by the above office(s) or has not received any response within 14 days, he/ she may contact the Grievance Redressal Officer","sources":[{"clause":"1","heading":"For resolution of grievances","page":40,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-1-7"}],"law":[{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 3","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 4","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 5","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(11)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(42)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 34","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 69","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Insurance Act, 1938","section":"Section 38","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 12","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 19","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 20","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 13","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(5), 5(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(9)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 25","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 26","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 11","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"Review of revision in premium rates under health insurance policies for senior citizens, 2025","section":"Para 3","url":"https://indiainsurances.com/law/irdai-senior-premium-2025"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 13","url":"https://indiainsurances.com/law/ombudsman-rules-2017"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 14","url":"https://indiainsurances.com/law/ombudsman-rules-2017"}]},{"key":"sum_assured","label":"Sum assured","section":"Cover","meaning":"The minimum and maximum life cover, or the rule that sets it (for example 10 times the annual premium).","status":"quote-verified","value":"For Gratuity, Leave Encashment and PRMBS schemes, the death sum assured is Rs. 10,000. Sum Assured is not applicable under the Superannuation Scheme.","display":"Rs. 10,000 for Gratuity, Leave Encashment and PRMBS; not applicable for Superannuation","note":null,"quote":"In the event of death of the Group Member, a Sum Assured of Rs. 10,000 shall be payable to the Group Member. ... Sum Assured shall not be applicable under the Superannuation Scheme.","sources":[{"clause":null,"heading":"A. For Gratuity, Leave Encashment and PRMBS (Post-Retirement Medical Benefit","page":14,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-a-for-gratuity-leave-encashment-and-prmbs-post-r"}],"law":[]},{"key":"death_benefit","label":"Death benefit","section":"Cover","meaning":"What your family gets if you die during the term, and how it is calculated.","status":"quote-verified","value":"For Gratuity, Leave Encashment and PRMBS, death benefit is Rs. 10,000 plus an exit payout as per Scheme Rules by cancellation of units at prevailing NAV. For Superannuation, no Sum Assured applies; Defined Benefit pays the member’s benefit as communicated by the policyholder according to Scheme Rules, and Defined Contribution pays the Member Account Value.","display":"Gratuity/Leave Encashment/PRMBS: Rs. 10,000 plus exit payout as per Scheme Rules; Superannuation: no Sum Assured, benefit as per DB/DC rules","note":"Defined Benefit and Defined Contribution rules differ under Superannuation.","quote":"In the event of death of the Group Member, a Sum Assured of Rs. 10,000 shall be payable to the Group Member.\nb) Additionally, the Group Member shall be paid an exit payout as per the Scheme Rules by cancellation of units at prevailing NAV ... Sum Assured shall not be applicable under the Superannuation Scheme. ... The benefit payable on death or retirement of a Group Member of the scheme will be the benefit pertaining to that Member as communicated by the Policyholder according to Scheme Rules by cancellation of units at prevailing NAV. ... The benefit payable on death or retirement of a Group Member will be the Member Account Value.","sources":[{"clause":null,"heading":"A. For Gratuity, Leave Encashment and PRMBS (Post-Retirement Medical Benefit","page":14,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-a-for-gratuity-leave-encashment-and-prmbs-post-r"},{"clause":"1(IV)(a)","heading":null,"page":15,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-1-iv-a"},{"clause":"1(IV)(b)","heading":null,"page":15,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-1-iv-b"}],"law":[]},{"key":"maturity_benefit","label":"Maturity benefit","section":"Cover","meaning":"What you get if you survive to the end of the term.","status":"quote-verified","value":"The CIS states benefits payable on maturity are as per scheme rules, and Sum Assured on Maturity is not applicable.","display":"As per scheme rules; Sum Assured on Maturity not applicable","note":"The policy term is one year and is renewable; benefits on exit, retirement or contingent events are paid according to Scheme Rules.","quote":"Sum Assured on Maturity : Not Applicable ... Benefits payable on maturity : As per scheme rules","sources":[{"clause":"Row 4","heading":"Basic Policy Details","page":1,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10718#c-row-4"},{"clause":"Row 5","heading":"Policy Coverage / Benefits Payable","page":1,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10718#c-row-5"}],"law":[]},{"key":"premium_paying_term","label":"Premium paying term","section":"Premium","meaning":"For how many years you pay premiums.","status":"quote-verified","value":"One Year Renewable.","display":"One Year Renewable","note":null,"quote":"Premium Payment Term | One Year Renewable","sources":[{"clause":"2(a)","heading":null,"page":7,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-2-a"}],"law":[]},{"key":"maturity_age","label":"Maximum maturity age","section":"Eligibility","meaning":"The oldest age at which cover ends.","status":"quote-verified","value":"Maturity age is 86 years or the admissible age specified in the Scheme Rules, whichever is lower.","display":"86 years or admissible age as specified in the Scheme Rules, whichever is lower","note":null,"quote":"Maturity Age: 86 years or admissible age as specified in the Scheme Rules, whichever is lower.","sources":[{"clause":"1","heading":"DEFINITIONS","page":10,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-1-2"}],"law":[]},{"key":"suicide_clause","label":"Suicide clause","section":"Exclusions","meaning":"What is paid if death is by suicide within the first 12 months.","status":"quote-verified","value":"In case of death due to suicide, the claimant is entitled to Sum Assured, if applicable, and benefits as per Scheme Rules as available on the date of death.","display":"Sum Assured, if applicable, plus benefits as per Scheme Rules","note":null,"quote":"In case of death due to suicide, the Claimant of the Group Member shall be entitled to Sum Assured, if applicable, and benefits as per Scheme Rules will be payable, as available on the date of death.","sources":[{"clause":"1","heading":"Suicide Exclusion","page":34,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-1-6"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 21","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 35","url":"https://indiainsurances.com/law/irdai-life-products-2024"}]},{"key":"surrender","label":"Surrender value","section":"Renewal and rights","meaning":"What you get if you stop the policy early, and from when.","status":"quote-verified","value":"On surrender, all rights, benefits and interests under the policy are extinguished and surrender value is the current value of units on the date of surrender after notice period, less applicable surrender charges. Surrender charges are 0.05% of fund value or Rs. 5 lacs, whichever is lower, in the 1st to 3rd year, and nil from the 4th year onwards; no surrender charges apply if proceeds are transferred to another group policy of the insurer.","display":"Current value of units less surrender charges; 1st-3rd year: 0.05% or Rs. 5 lacs, whichever lower; 4th year onwards: NIL","note":null,"quote":"Surrender Value means the current value of the Units as on the date of Surrender, on the expiration of the notice period, subject to deduction of the surrender charges (as mentioned in the Charges section) as may be applicable. ... Year of Surrender | Charges applicable ( as a % of Fund Value)\n1st – 3rd Yr | 0.05% or Rs. 5 lacs, whichever is lower\n4th Yr onwards | NIL\nIf the Policyholder transfers the Surrender proceeds of this Policy to another group policy of the Insurer, there shall be no Surrender Charges on this Policy.","sources":[{"clause":"8","heading":"Surrender / Termination of the Policy","page":20,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-8"},{"clause":"3(vi)","heading":null,"page":23,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-3-vi"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.1 to 26.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.4 and 26.5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 27","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.16 and 1.17","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(1) to (3)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(4) and (5)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(6) to (9)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(B)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 2(A)(vi)(c)(V)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"paid_up","label":"Paid-up value","section":"Renewal and rights","meaning":"What cover continues if you stop paying premiums after a few years.","status":"quote-verified","value":"Not applicable.","display":"Not Applicable","note":null,"quote":"Paid-up | Not Applicable","sources":[{"clause":"Row 11","heading":"Lapse","page":2,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10718#c-row-11"}],"law":[]},{"key":"revival","label":"Revival period","section":"Renewal and rights","meaning":"How long after lapsing you can restart the policy.","status":"quote-verified","value":"Not applicable.","display":"Not Applicable","note":null,"quote":"Revival | Not Applicable","sources":[{"clause":"Row 11","heading":"Lapse","page":2,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10718#c-row-11"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.1 and 40.1.2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.4","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.7","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.10","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.28","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.39","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"policy_loan","label":"Policy loan","section":"Renewal and rights","meaning":"Whether you can borrow against the policy.","status":"quote-verified","value":"Loans are not available under the policy.","display":"Loans are not available","note":null,"quote":"Loans are not available under the Policy.","sources":[{"clause":"5","heading":"Loans","page":19,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-5"}],"law":[]},{"key":"riders_available","label":"Riders available","section":"Cover","meaning":"Optional add-ons such as accidental death, critical illness or waiver of premium.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[]},{"key":"section45","label":"Claims after 3 years (Section 45)","section":"Claims","meaning":"After 3 years a life policy cannot be questioned on any ground, and only for fraud with proof before that.","status":"quote-verified","value":"Section 45 applies. No life policy can be called in question on any ground after expiry of 3 years from issuance, commencement of risk, revival or rider date, whichever is later; within 3 years it may be questioned on fraud, and also on material misstatement or suppression as stated in the annexure.","display":"After 3 years, no questioning on any ground; within 3 years, fraud or material misstatement/suppression provisions apply","note":null,"quote":"The provisions of Section 45 of the Insurance Act 1938, as amended from time-to-time, will be applicable to this contract and each life cover provided therein. ... No Policy of Life Insurance shall be called in question on any ground whatsoever after expiry of 3 yrs from\na) the date of issuance of policy or\nb) the date of commencement of risk or\nc) the date of revival of policy or\nd) the date of rider to the policy whichever is later. ... On the ground of fraud, a policy of Life Insurance may be called in question within 3 years ... Life insurance Policy can be called in question within 3 years on the ground that any statement of or suppression of a fact material to expectancy of life of the insured was incorrectly made","sources":[{"clause":"5","heading":"Fraud /Mis-statement of Provisions","page":36,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-5-2"},{"clause":"01","heading":"No Policy of Life Insurance shall be called in question on any ground whatsoever after","page":48,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-01-2"},{"clause":"02","heading":null,"page":48,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-02-2"},{"clause":"06","heading":"Life insurance Policy can be called in question within 3 years on the ground that any","page":48,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-06-2"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 45","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.6","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"tax_note","label":"Tax note in the document","section":"Premium","meaning":"What the document says about tax benefits. Not stated when it only says taxes are charged on the premium. Tax law changes; confirm separately.","status":"quote-verified","value":"The sales brochure says tax benefits under the policy may be as per prevailing Income Tax laws and that employers are advised to consult a tax expert.","display":"Tax benefits may be as per prevailing Income Tax laws; consult a tax expert","note":"From the sales brochure.","quote":"Tax benefits under the policy may be as per the prevailing Income Tax laws. Tax laws are subject to amendments from time to time and interpretations. Employers are advised to consult a tax expert","sources":[{"clause":"13","heading":"Tax Benefits","page":30,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10717#c-13"}],"law":[]},{"key":"free_look","label":"Free-look period","section":"Renewal and rights","meaning":"Days after you receive the policy in which you can return it for a refund if you do not agree with its terms.","status":"quote-verified","value":{"unit":"days","amount":30},"display":"30 days","note":"Not available for policies having a policy term of less than a year.","quote":"The Policyholder is offered a 30 days’ free look period to review the terms and conditions of the Policy (except for policies having a policy term of less than a year) beginning from the date of receiving the Policy Document in electronic form.","sources":[{"clause":"11","heading":"Free Look Provision","page":20,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-11"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 5","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(1), 20(2)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(3) to 20(5)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, II.8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grace_period","label":"Grace period","section":"Renewal and rights","meaning":"Days you get after the due date to pay without losing cover or continuity.","status":"quote-verified","value":{"unit":"days","amount":0},"display":"Not Applicable","note":null,"quote":"9. | Grace Period | Not Applicable | Not Applicable","sources":[{"clause":"Row 9","heading":"Grace Period","page":2,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10718#c-row-9"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 8","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 9","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 8","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.2","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 1.3","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"eligibility_entry_age","label":"Entry age","section":"Eligibility","meaning":"The youngest and oldest age at which you can buy this policy.","status":"quote-verified","value":"Minimum entry age is the minimum age for joining as an employee under the Scheme Rules or 18 years, whichever is higher. Maximum entry age is 85 years or the admissible age specified in the Scheme Rules, whichever is lower.","display":"Minimum: 18 years or Scheme Rules higher; Maximum: 85 years or Scheme Rules lower","note":null,"quote":"Minimum Age at entry of the Group Member: minimum Age for joining as an employee (as per Scheme Rules) or 18 years whichever is higher;\n• Maximum Age at entry of the Group Member: 85 years or admissible age as specified in the Scheme Rules, whichever is lower;","sources":[{"clause":"1","heading":"DEFINITIONS","page":10,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-1-2"}],"law":[]},{"key":"premium_modes","label":"Premium payment options","section":"Premium","meaning":"How often you can pay: yearly, half-yearly, quarterly, monthly.","status":"quote-verified","value":["Yearly","Half-yearly","Quarterly","Monthly"],"display":"Yearly, Half-yearly, Quarterly, Monthly","note":"The CIS prints these as the schedule placeholder for mode of premium payment.","quote":"Mode of premium payment : <<Yearly, Half-yearly, Quarterly, Monthly>>","sources":[{"clause":"Row 4","heading":"Basic Policy Details","page":1,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10718#c-row-4"}],"law":[]},{"key":"premium_type","label":"Premium payment type","section":"Premium","meaning":"Single premium, regular premium (every year of the term) or limited premium (fewer years than the term).","status":"quote-verified","value":["One Year Renewable"],"display":"One Year Renewable","note":"Contributions are made by the policyholder based on Scheme Rules.","quote":"Premium payment Term : One Year Renewable","sources":[{"clause":"Row 4","heading":"Basic Policy Details","page":1,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10718#c-row-4"}],"law":[]},{"key":"lock_in","label":"Lock-in period","section":"Renewal and rights","meaning":"Years before you can withdraw. ULIPs have a 5-year lock-in.","status":"not-stated","value":null,"display":null,"note":"The documents state surrender terms and surrender charges but do not state a lock-in period.","quote":null,"sources":[],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.1 and 40.1.2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 4","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 42","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 54.1 and 54.2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.5","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.22 to 1.24","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(B)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 2(A)(vii) to (ix)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 2(A)(vi)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"funds","label":"Fund options","section":"Cover","meaning":"The investment funds you can choose and their risk.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[]},{"key":"premium_allocation_charge","label":"Premium allocation charge","section":"Charges","meaning":"Part of each premium taken before investing.","status":"quote-verified","value":"Direct Sales: not applicable for any amount. Corporate Agent, Individual Agent or Broker: 0.5% for premium up to Rs 20 Crores in any policy year, and NIL for the portion above Rs 20 Crores.","display":"Direct Sales: Not Applicable; Agent/Broker: 0.5% up to Rs 20 Crores, NIL above Rs 20 Crores","note":"The rates of this charge are guaranteed for the policy term.","quote":"Premium Allocation Charges:\nDistribution Channel | Premium Amount | Premium Allocation Charge (as % of Contribution)\nDirect Sales* | Any amount | Not Applicable\nCorporate Agent / Individual Agent / Broker | For premium up to Rs 20 Crores in any policy year | 0.5%\nFor portion of premium Above Rs 20 Crores in any policy year | NIL","sources":[{"clause":"3(i)","heading":null,"page":22,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-3-i"}],"law":[]},{"key":"policy_admin_charge","label":"Policy administration charge","section":"Charges","meaning":"Monthly charge deducted from your fund.","status":"not-stated","value":null,"display":null,"note":"The charges section does not state a policy administration charge.","quote":null,"sources":[],"law":[]},{"key":"fund_management_charge","label":"Fund management charge","section":"Charges","meaning":"Yearly charge on fund value; capped at 1.35% by IRDAI.","status":"quote-verified","value":"FMC is 0.80% p.a. for money market, gilt, bond, floating rate, short term bond, pension liquid plus, pension bond and pension gilt funds, and 1.00% p.a. for balanced, prudent, equity, Nifty 50, pension equity, pension balanced, pension prudent and pension Nifty 50 funds. The insurer may change the charge with prior IRDAI approval, subject to a maximum of 1.35% per annum.","display":"0.80% or 1.00% p.a. by fund; maximum 1.35% p.a.","note":null,"quote":"Following are the FMC applicable per annum for the available funds:\nSegragted Fund Name | FMC (p.a.)\nKotak Group Money Market Fund | 0.80%\nKotak Group Gilt Fund | 0.80%\nKotak Group Bond Fund | 0.80%\nKotak Group Floating Rate Fund | 0.80%\nKotak Group Balanced Fund | 1.00% ... Kotak Group Pension Nifty 50 Index Fund | 1.00%\nThis charge is levied as a percentage of the Fund Value and shall be appropriated by adjusting the NAV after deducting the charges on daily basis. ... subject to a maximum of 1.35% per annum, with prior IRDAI approval.","sources":[{"clause":"3(ii)","heading":null,"page":22,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-3-ii"}],"law":[]},{"key":"mortality_charge","label":"Mortality charge","section":"Charges","meaning":"Cost of life cover, deducted monthly by age.","status":"quote-verified","value":"Mortality charge is deducted from fund value by cancellation of units if sufficient funds are available. It is Rs. 1 per annum per Rs. 1,000 Sum Assured for EB schemes other than PRMBS, and Rs 7 per annum per 1,000 Sum Assured for PRMBS, excluding GST and other taxes.","display":"Rs. 1 per Rs. 1,000 SA p.a.; PRMBS Rs 7 per 1,000 SA p.a.","note":"The rates are guaranteed for the policy term.","quote":"Mortality charge for life cover against each Member will be deducted from the Fund value through cancellation of units subject to availability of sufficient funds. Mortality Charge for EB schemes other than PRMBS Scheme is equal to Rs. 1 per annum per Rs. 1,000 Sum Assured (excluding GST and/or other taxes, if any) per year per Member covered under the Policy. Mortality charge for Post-Retirement Medical Benefit Scheme is equal to Rs 7 per annum per 1,000 Sum Assured (excluding GST and/or other taxes, if any) per year per Member covered under the Policy.","sources":[{"clause":"3(iii)","heading":null,"page":23,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-3-iii"}],"law":[]},{"key":"discontinuance_charge","label":"Discontinuance charge","section":"Charges","meaning":"Charge if you stop paying in the first five years.","status":"quote-verified","value":"The policy states surrender charges, not a separate discontinuance charge: 1st to 3rd year 0.05% of fund value or Rs. 5 lacs, whichever is lower; 4th year onwards NIL. If surrender proceeds are transferred to another group policy of the insurer, there are no surrender charges.","display":"Surrender charge: 1st-3rd year 0.05% or Rs. 5 lacs, whichever lower; 4th year onwards NIL","note":"The document calls this a surrender charge; no separate discontinuance charge is stated.","quote":"Surrender Charges:\nThis is a charge levied on the Fund Value at the time of Surrender of Policy. Following charges are applicable depending on year of Surrender:\nYear of Surrender | Charges applicable ( as a % of Fund Value)\n1st – 3rd Yr | 0.05% or Rs. 5 lacs, whichever is lower\n4th Yr onwards | NIL\nIf the Policyholder transfers the Surrender proceeds of this Policy to another group policy of the Insurer, there shall be no Surrender Charges on this Policy.","sources":[{"clause":"3(vi)","heading":null,"page":23,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-3-vi"}],"law":[]},{"key":"switches_withdrawals","label":"Switches and partial withdrawals","section":"Renewal and rights","meaning":"Free fund switches and withdrawals after lock-in.","status":"quote-verified","value":"Unlimited free switches are allowed during the policy tenure, but if a Group Member has opted for Life Stage Allocation, switching from one fund to another is not allowed. Partial withdrawals are not allowed under the policy.","display":"Unlimited free switches; partial withdrawals not allowed","note":"A member can switch from Life Stage Allocation to self-managed strategy by written request to the insurer.","quote":"Unlimited free switches are allowed during policy tenure. If a Group Member has opted for Life Stage Allocation option, switching from one fund to another shall not be allowed. ... Partial Withdrawals are not allowed under the Policy.","sources":[{"clause":"3","heading":"Switching of funds","page":19,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-3"},{"clause":"6","heading":"Partial Withdrawal","page":19,"url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471#c-6"}],"law":[]}],"documents":[{"kind":"wording","label":"Kotak Corporate Benefit Plan - UIN - 107L127V02","pages":51,"fetched_at":"2026-10-17 19:50:17+00","source_url":"https://www.kotaklife.com/assets/images/uploads/how_do_i/Kotak_Corporate_Benefit_Plan_UIN_107L127V02_Policy_Document.pdf","url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10471"},{"kind":"wording","label":"Kotak Corporate Benefit Plan Policy Document (withdrawn UIN: 107L127V01)","pages":49,"fetched_at":"2026-10-17 20:21:39+00","source_url":"https://www.kotaklife.com/assets/images/uploads/how_do_i/Kotak_Corporate_Benefit_Plan_Policy_Document.pdf","url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/11183"},{"kind":"wording","label":"Kotak Corporate Benefit Plan UIN: 107L127V01","pages":55,"fetched_at":"2026-10-17 20:23:19+00","source_url":"https://www.kotaklife.com/assets/images/uploads/how_do_i/Kotak_Corporate_Benefit_Plan_107L127V01.pdf","url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/11231"},{"kind":"cis","label":"Kotak Corporate Benefit Plan CIS_MPH CIS (English)","pages":4,"fetched_at":"2026-10-17 20:02:21+00","source_url":"https://www.kotaklife.com/assets/images/uploads/how_do_i/Kotak_Corporate_Benefit_Plan_UIN_107L127V02_CIS_MPH.pdf","url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10718"},{"kind":"cis","label":"Kotak Corporate Benefit Plan CIS (English)","pages":4,"fetched_at":"2026-10-17 20:14:33+00","source_url":"https://www.kotaklife.com/assets/images/uploads/how_do_i/CIS_MPH_Kotak_Corporate_Benefit_Plan_Final_25092024.pdf","url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/11048"},{"kind":"brochure","label":"Kotak Corporate Benefit Plan UIN 107L127V02 Brochure Latest","pages":34,"fetched_at":"2026-10-17 20:02:17+00","source_url":"https://www.kotaklife.com/assets/images/uploads/insurance-plans/Kotak_Corporate_Benefit_Plan_UIN_107L127V02_Brochure_Latest.pdf","url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/10717"},{"kind":"proposal","label":"Kotak Corporate Benefit Plan UIN 107L127V02","pages":null,"fetched_at":"2026-10-17 19:45:49+00","source_url":"https://www.kotaklife.com/assets/images/uploads/how_do_i/Kotak-Corporate-Benefit-Plan-UIN-107L127V02.pdf","url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/30277"},{"kind":"proposal","label":"Kotak Corporate Benefit Plan_107L127V01","pages":null,"fetched_at":"2026-10-17 19:46:17+00","source_url":"https://www.kotaklife.com/assets/images/uploads/how_do_i/Kotak-Corporate-Benefit-Plan-107L127V01.pdf","url":"https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02/document/30279"}],"versions":[{"uin":"107L127V01","version":null,"approved_on":null},{"uin":"107L127V02","version":null,"approved_on":null}],"where_to_buy":[{"purpose":"buy","kind":"insurer","name":"Kotak Mahindra Life Insurance official website","url":"https://www.kotaklife.com/","note":"Website as listed by IRDAI. Not checked: the site served a browser challenge to our crawler on 2026-10-19; we do not solve challenges."},{"purpose":"buy","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"claims_and_complaints":[{"purpose":"claim","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."},{"purpose":"grievance","kind":"official","name":"Bima Bharosa (IRDAI grievance portal)","url":"https://bimabharosa.irdai.gov.in/","note":"Register and track a complaint against any insurer with IRDAI. Complain to the insurer first; escalate here if the reply is late or unsatisfactory."},{"purpose":"grievance","kind":"official","name":"e-Daakhil (consumer commission e-filing)","url":"https://edaakhil.nic.in/","note":"Not reachable from our crawler on 2026-10-19; use e-Jagriti if this link does not open."},{"purpose":"grievance","kind":"official","name":"e-Jagriti (consumer commission filing)","url":"https://e-jagriti.gov.in/","note":"Ministry of Consumer Affairs platform for consumer commission cases, a route for insurance disputes that the Ombudsman does not settle."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Ahmedabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Gujarat, Dadra & Nagar Haveli, Daman and Diu. Email: oio.ahmedabad@cioins.co.in. Phone: 079 - 25501201/02. Address: Office of the Insurance Ombudsman, Jeevan Prakash Building, 6th floor, Tilak Marg, Relief Road, AHMEDABAD – 380 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bengaluru","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Karnataka. Email: oio.bengaluru@cioins.co.in. Phone: 080 - 26652048 / 26652049. Address: Office of the Insurance Ombudsman, Jeevan Soudha Building,PID No. 57-27-N-19 Ground Floor, 19/19, 24th Main Road, JP Nagar, Ist Phase, Bengaluru – 560 078."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhopal","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Madhya Pradesh, Chhattisgarh. Email: oio.bhopal@cioins.co.in. Phone: 0755 - 2769201 / 2769202 / 2769203. Address: Office of the Insurance Ombudsman, 1st floor,\"Jeevan Shikha\", 60-B,Hoshangabad Road, Opp. Gayatri Mandir,Arera Hills Bhopal – 462 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhubaneswar","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Odisha. Email: oio.bhubaneswar@cioins.co.in. Phone: 0674 - 2596461 /2596455/2596429/2596003. Address: Office of the Insurance Ombudsman, 62, Forest park, Bhubaneswar – 751 009."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chandigarh","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Punjab, Haryana (excluding Gurugram, Faridabad, Sonepat and Bahadurgarh), Himachal Pradesh, Union Territories of Jammu & Kashmir,Ladakh & Chandigarh. Email: oio.chandigarh@cioins.co.in. Phone: 0172-2706468. Address: Office Of The Insurance Ombudsman, Jeevan Deep Building SCO 20-27, Ground Floor Sector- 17 A, Chandigarh – 160 017."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chennai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Tamil Nadu, PuducherryTown and Karaikal (which are part of Puducherry). Email: oio.chennai@cioins.co.in. Phone: 044 - 24333668 / 24333678. Address: Office of the Insurance Ombudsman, Fatima Akhtar Court, 4th Floor, 453, Anna Salai, Teynampet, CHENNAI – 600 018."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Delhi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Delhi & following Districts of Haryana - Gurugram, Faridabad, Sonepat & Bahadurgarh. Email: oio.delhi@cioins.co.in. Phone: 011 - 46013992/23213504/23232481. Address: Office of the Insurance Ombudsman, 2/2 A, Universal Insurance Building, Asaf Ali Road, New Delhi – 110 002."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Guwahati","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Assam, Meghalaya, Manipur, Mizoram, Arunachal Pradesh, Nagaland and Tripura. Email: oio.guwahati@cioins.co.in. Phone: 0361 - 2632204 / 2602205 / 2631307. Address: Office of the Insurance Ombudsman, Jeevan Nivesh, 5th Floor, Near Pan Bazar , S.S. Road, Guwahati – 781001(ASSAM)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Hyderabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Andhra Pradesh, Telangana, Yanam and part of Union Territory of Puducherry. Email: oio.hyderabad@cioins.co.in. Phone: 040 - 23312122 / 23376991 / 23376599 / 23328709 / 23325325. Address: Office of the Insurance Ombudsman, 6-2-46, 1st floor, \"Moin Court\", Lane Opp.Hyundai Showroom , A. C. Guards, Lakdi-Ka-Pool, Hyderabad - 500 004."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Jaipur","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Rajasthan. Email: oio.jaipur@cioins.co.in. Phone: 0141- 2740363. Address: Office of the Insurance Ombudsman, Jeevan Nidhi – II Bldg., Gr. Floor, Bhawani Singh Marg, Jaipur - 302 005."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kochi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Kerala, Lakshadweep, Mahe-a part of Union Territory of Puducherry. Email: oio.ernakulam@cioins.co.in. Phone: 0484 - 2358759. Address: Office of the Insurance Ombudsman, 10th Floor, Jeevan Prakash,LIC Building, Opp to Maharaja's College Ground,M.G.Road, Kochi - 682 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kolkata","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: West Bengal, Sikkim, Andaman & Nicobar Islands. Email: oio.kolkata@cioins.co.in. Phone: 033 - 22124339 / 22124341. Address: Office of the Insurance Ombudsman, Hindustan Bldg. Annexe, 7th Floor, 4, C.R. Avenue, KOLKATA - 700 072."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Lucknow","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Districts of Uttar Pradesh : Lalitpur, Jhansi, Mahoba, Hamirpur, Banda, Chitrakoot, Allahabad, Mirzapur, Sonbhabdra, Fatehpur, Pratapgarh, Jaunpur,Varanasi, Gazipur, Jalaun, Kanpur, Lucknow, Unnao, Sitapur, Lakhimpur, Bahraich, Barabanki, Raebareli, Sravasti, Gonda, Faizabad, Amethi, Kaushambi, Balrampur, Basti, Ambedkarnagar, Sultanpur, Maharajgang, Santkabirnagar, Azamgarh, Kushinagar, Gorkhpur, Deoria, Mau, Ghazipur, Chandauli, Ballia, Sidharathnagar. Email: oio.lucknow@cioins.co.in. Phone: 0522 - 4002082 / 3500613. Address: Office of the Insurance Ombudsman, 6th Floor, Jeevan Bhawan, Phase-II, Nawal Kishore Road, Hazratganj, Lucknow - 226 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Mumbai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: List of wards under Mumbai Metropolitan Region excluding wards in Mumbai – i.e M/E, M/W, N , S and T covered under Office of Insurance Ombudsman Thane and excluding areas of Navi Mumbai. Email: oio.mumbai@cioins.co.in. Phone: 022 - 69038800/27/29/31/32/33. Address: Office of the Insurance Ombudsman, 3rd Floor, Jeevan Seva Annexe, S. V. Road, Santacruz (W), Mumbai - 400 054."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Noida","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Uttarakhand and the following Districts of Uttar Pradesh: Agra, Aligarh, Bagpat, Bareilly, Bijnor, Budaun, Bulandshehar, Etah, Kannauj, Mainpuri, Mathura, Meerut, Moradabad, Muzaffarnagar, Oraiyya, Pilibhit, Etawah, Farrukhabad, Firozbad, Gautam Buddh nagar, Ghaziabad, Hardoi, Shahjahanpur, Hapur, Shamli, Rampur, Kashganj, Sambhal, Amroha, Hathras, Kanshiramnagar, Saharanpur. Email: oio.noida@cioins.co.in. Phone: 0120-4027589. Address: Office of the Insurance Ombudsman, Bhagwan Sahai Palace 4th Floor, Main Road, Naya Bans, Sector 15, Distt: Gautam Buddh Nagar, U.P-201301."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: offices and jurisdiction","url":"https://www.cioins.co.in/Ombudsman","note":"Addresses, phone numbers, e-mail and the states or districts each Ombudsman office covers."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Patna","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Bihar, Jharkhand. Email: oio.patna@cioins.co.in. Phone: 0612-2547068. Address: Office of the Insurance Ombudsman, 2nd Floor, Lalit Bhawan, Bailey Road, Patna 800 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Pune","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Goa and State of Maharashtra excluding areas of Navi Mumbai, Thane district,Palghar District, Raigad district & Mumbai Metropolitan Region. Email: oio.pune@cioins.co.in. Phone: 020-24471175. Address: Office of the Insurance Ombudsman, Jeevan Darshan Bldg., 3rd Floor, C.T.S. No.s. 195 to 198, N.C. Kelkar Road, Narayan Peth, Pune – 411 030."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: register a complaint online","url":"https://cioins.co.in/Complaint/Online","note":"Council for Insurance Ombudsmen. Free. For disputes with an insurer after its own grievance process; the office is chosen by where you live (see the offices list)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Thane","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Area of Navi Mumbai, Thane District, Raigad District, Palghar District and wards of Mumbai , M/East, M/West, N, S and T. Email: oio.thane@cioins.co.in. Phone: 022-20812868/69. Address: Office of the Insurance Ombudsman, Jeevan Chintamani Building, 2nd Floor,Near New RTO Office, Louis Wadi,Vasantrao Naik Mahamarg, Thane (West)- 400604."},{"purpose":"grievance","kind":"official","name":"National Consumer Helpline","url":"https://consumerhelpline.gov.in/public/","note":"Government consumer helpline; can take up a complaint before you go to a consumer commission."},{"purpose":"port","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"notice":"Information, not advice. IndiaInsurances is not an insurer or an insurance intermediary, does not sell insurance and earns no commission. Policy terms change and your own policy schedule can differ: always confirm with the policy document and the insurer before you buy or claim.","cite_as":"Kotak Corporate Benefit Plan (UIN 107L127V02), IndiaInsurances, https://indiainsurances.com/policy/kotak-mahindra-life-insurance/kotak-corporate-benefit-plan-107l127v02"}