Kotak Group Secure Shield Micro Insurance

Kotak Group Secure Shield – Micro Insurance Plan provides financial security to the employees of an organization or company against medical expenses. The policyholder (employer) should provide the complete list of members (employees) at the time of policy issuance and renewal. In the case of employer-employee policies, the employer may issue the confirmation of insurance protection to the individual employee with clear reference to the Kotak Group Secure Shield – Micro Insurance Plan. Whereas, in the case of non-employer-employee policies, the insurer will issue the certificate of insurance. Read this page further and know about Kotak Group Secure Shield – Micro Insurance Plan coverage.

Kotak Group Secure Shield – Micro Insurance Plan Base Cover

You’ll get coverage against the following critical illnesses during the policy period:

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 Pulmonary Hypertension
7. End-Stage Liver Disease/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
19. Major Organ / Bone Marrow Transplant
20. Open heart replacement or repair of heart valves
21. Open chest CABG
22. Aorta Graft Surgery
23. Pulmonary artery graft surgery
24. Brain surgery
25. Pneumonectomy
26. Coma of Specified Severity
27. Stroke resulting in permanent symptoms
28. Permanent Paralysis of Limbs
29. First Heart Attack of specified severity
30. Third Degree Burns
31. Deafness or Loss of Hearing
32. Loss of Speech
33. Blindness
34. Major Head Trauma

Optional Cover

The policyholder can add any of the following optional covers to Kotak Group Secure Shield – Micro Insurance Plan.

Personal Accident Benefit: The insurer will pay the sum insured in case the insured dies or suffers Permanent Total Disablement (PTD) due to an injury sustained during an accident, provided death/PTD occurs within 12 months from the date of that accident. Under PTD, the insurer shall cover the following losses:

1. Loss of sight of both eyes
2. 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

The insurer shall also pay a Child Education Benefit of 10% of the sum insured under Personal Accident Benefit, subject to a maximum of INR 10 Lakh. The payout is made towards the education of the insured person’s children aged less than 25 years.

Loss of Job Benefit: If the insured person is terminated, dismissed, temporarily suspended or retrenched from employment during the policy period, the insurer will pay the EMI of the insured person till the reinstatement of employment with the same or new employer. In case the EMI is greater than the Loss of Job Benefit Sum Insured as specified in the policy schedule, the insurer is liable to pay an amount lesser than the credit amount.

Free Look Period

Under Kotak Group Secure Shield – Micro Insurance Plan, there is a free look period of 15 days that starts from the date of receipt of the policy, to review the terms and conditions. If the insured disagrees with any of the terms and conditions of this policy, he/she can return the same stating the reason for it. On such cancellation, the policyholder is entitled to a refund of the paid premium after the deduction of medical examination and stamp duty charges, provided the insured hasn’t filed a claim during the free look period. If the risk has already commenced and the option of return of the policy is exercised by the policyholder, a deduction towards the proportionate risk premium for the period on the cover will be made. Where only a part of the risk has commenced, such proportionate risk premium commensurates with the risk covered during the free look period.