Group Health Insurance 187 views July 12, 2021

Kotak Group Secure Shield Insurance Plan

With Kotak Group Secure Shield Insurance Plan, you can provide coverage to your employees against the treatment of critical illnesses without affecting your finances. This plan also provides coverage against personal accidents and job loss due to illness or accident. Insured members can also include their families to get coverage during a medical emergency.

Let’s have a look at the key features of this group insurance plan mentioned below before we will talk about them in detail.

  1. Critical Illness Benefit
  2. Personal Accident Benefit
  3. Loss of Job Benefit due to Illness or Accident
  4. A 15-day free look period
  5. Lifelong renewability option
  6. Tax Benefits under Section 80D of the Income Tax Act, 1961

Go through this page to understand these features of the Kotak Group Secure Shield Insurance Plan extensively. Let’s start without any further ado.

Features and Benefits of Kotak Group Secure Shield Insurance Plan in Detail

Kotak Group Secure Shield Insurance Plan is a group health insurance plan that shields your employees financially against critical illnesses treatment. We have talked about its features below. Please check.

Critical Illness Benefit

If an insured person is diagnosed with any of the following critical illnesses during the policy period, the policy will pay the sum insured. However, the signs and symptoms of the below-mentioned critical illnesses should occur at least 90 days after the commencement of the first policy period.

The illnesses for which the cover will commence are presented below:

  1. Cancer of specified severity
  2. Kidney failure requiring regular dialysis
  3. Multiple Sclerosis with persisting symptoms
  4. Motor Neurone Disease with Permanent Symptoms
  5. Benign Brain Tumor
  6. Primary (Idiopathic) PulmonaryHypertension
  7. End-Stage Liver Failure
  8. Cardiomyopathy
  9. Alzheimer’s Disease
  10. Parkinson’s Disease
  11. End-stage Lung Failure
  12. Apallic Syndrome
  13. Medullary Cystic Disease
  14. Systemic lupus erythematosus with Renal Involvement
  15. Aplastic Anaemia
  16. Bacterial meningitis
  17. Multiple system atrophy
  18. Progressive scleroderma

The cover will also be provided for undergoing the following surgical procedures for the first time.

  1. Major Organ/ Bone Marrow Transplant
  2. Open heart replacement or repair of heart valves
  3. Open chest CABG
  4. Aorta Graft Surgery
  5. Pulmonary artery graft surgery
  6. Brain surgery
  7. Pneumonectomy

The occurrence of the following events for the first time will also get covered under the Kotak Group Secure Shield Insurance Plan.

  1. Coma of Specified Severity
  2. Stroke resulting in permanent symptoms
  3. Permanent Paralysis of Limbs
  4. Myocardial Infarction (First Heart Attack-of specific severity)
  5. Third Degree Burns
  6. Deafness
  7. Loss of Speech
  8. Blindness
  9. Major Head Trauma

Personal Accident Benefit

If an insured person dies or suffers permanent total disability due to an injury from an accident (during the policy period), the policy will pay the sum insured. However, the insured person’s death or permanent total disablement should occur within 12 months of the accidental injury.

The permanent total disablement means the total and irrevocable loss of one of the following, and it stops the insured person from resuming his or her normal occupation or engaging in similar gainful employment.

  1. Loss of sight of both eyes
  2. Actual loss by physical separation of both hands or both feet or one entire hand and one entire foot
  3. Loss of use of both hands or both feet or one hand and one foot without Physical Separation

On the death of the insured member, the policy also offers a Child Education Benefit of 10% of the sum insured (up to a maximum of INR 10 lakh) towards the education expenses of the insured person’s child. To get this benefit, the children should be less than 25 years of age on the date of the accident.

Loss of Job Benefit due to Illness or Accident

Under this benefit, the Kotak Group Secure Shield Insurance Plan offers financial support in case of job loss due to illness or accident if insured members have a loan to pay. Insured members can get the benefit in case of the following situations.

  1. If the EMI on the date of the insured person’s termination of temporary suspension from employment is greater than the EMI payable under loss of job (due to illness or accident), it will pay the EMI or Pre-EMI on the credit or the sum insured (whichever is lower) on the date of the event
  2. The period of termination or temporary suspension from employment by the insured person’s employer during the policy period is not less than 30 consecutive days
  3. The insured person is a salaried employee at the stage of termination or temporary suspension.
  4. The loss of a job occurs within three months from the date of illness or injury.

What is Not Covered Under the Policy?

Insured members of the group will not get coverage in the following situations.

  1. War, invasion, the act of a foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, mutiny, military or usurped power, seizure, capture, arrests, etc.
  2. Nuclear Weapon Materials
  3. Any Sexually Transmitted Diseases
  4. Any Act of terrorism
  5. Self-destruction or self-inflicted injury
  6. Attempted suicide or suicide

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