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Insurance Company
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Kotak Mahindra Old Mutual Life Insurance Ltd
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Plan Name
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Kotak Group Gratuity Plan
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Plan Nature
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ULIP
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Plan Category
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Gratuity Plan
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UIN No.
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107L010V03
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About Plan
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Gratuity is not just a statutory obligation but also a very important tool today to retain and attract talented employees. A comprehensive and effective gratuity plan can reduce your business cost and corporate tax. At Kotak Life Insurance, we understand this. We have therefore designed a gratuity management solution that not only manages your retirement liability effectively but also helps you release resources for your core business activities.
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Minimum Entry Age
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18 years
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Maximum Maturity Age
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65 year
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Benefits
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| Particulars | Description |
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Maturity Benefits
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Nil
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Death Benefits
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The death benefit will be equal to Future Service Gratuity or a flat cover (as agreed by the employer) plus gratuity settlement as per the Trust rules.
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Tax Benefits
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| Section | Description |
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SEC 10 (10)D
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Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
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SEC 36 (I) V
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The employer may contribute up to 8.33% of annual wage bill and claim it as deductiable business expense under section 36 (i) V of the Income Tax Act, 1961.
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Critical Illness Benefit (Rider) [107C009V01]
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Market-linked returns and long term investment growth (Unit-Linked Non-Participating Scheme). Choice of nine investment portfolios.
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Switching facility amongst the available fund options. An in-built life cover (equivalent to Future Service Gratuity subject to a min of Rs 1000) that insures your employees' lives and provides security to their families. Life cover is available 24 hours a day, 7 days a week, anywhere in the world.
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36M FMP (02-01-2011)
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50M FMP (27-02-2013)
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57M FMP (07/04/2016)
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59M FMP (08-12-2013)
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60M FMP (27-11-2013)
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Aggressive Growth
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Dynamic Floor
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Group Balanced Fund
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Group Bond
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Group Floating Rate
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Group Gilt
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Group Money Market
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Group Secure Capital Fund
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Particulars
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Range
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36M FMP (02-01-2011)
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Debt (including Money Market Instruments)
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0% - 100%
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50M FMP (27-02-2013)
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Debt (including Money Market Instruments)
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0% - 100%
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59M FMP (08-12-2013)
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Debt (including Money Market Instruments)
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0% - 100%
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60M FMP (27-11-2013)
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Debt (including Money Market Instruments)
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0% - 100%
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Aggressive Growth
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Equity
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60% - 100%
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Debt
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0% - 40%
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Dynamic Floor
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Equity
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0% - 75%
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Debt
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25% - 100%
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Group Balanced Fund
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Equity
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30% - 60%
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Debt
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20% - 70%
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Cash & Money market
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0% - 20%
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Group Bond
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Debt (Debt & Infrastructure Securities) 25% - 100%
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0% - 20%
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Cash & Money market
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0% - 20%
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Group Floating Rate
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Debt (Floating rate debt instruments)
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0% - 75%
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Cash & Money market
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0% - 20%
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Group Gilt
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Debt
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80% - 100%
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Cash & Money market
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0% - 20%
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Group Money Market
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Cash & Money market
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0% - 100%
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Group 57M FMP (07/04/2016) Fund
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23-May-13
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11.9152
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Group 59M FMP (08-12-2013) Fund
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23-May-13
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14.4597
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Group 60M FMP (27-11-2013) Fund
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23-May-13
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15.3409
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Group Balanced Fund
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23-May-13
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36.236
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Group Bond Fund
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23-May-13
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23.2166
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Group Floating Rate Fund
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23-May-13
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18.7
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Group Gilt Fund
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23-May-13
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21.2152
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Group Secure Capital Fund
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23-May-13
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12.9278
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Group 50M FMP (27-02-2013) Fund
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27-Feb-13
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13.9931
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Group Money Market Fund
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09-Mar-12
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24.5593
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Kotak Group Gratuity - 36M FMP (02-01-2011)
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09-Nov-10
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12.6501
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36M FMP (02-01-2011)
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50M FMP (27-02-2013)
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57M FMP (07/04/2016)
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59M FMP (08-12-2013)
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60M FMP (27-11-2013)
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Aggressive Growth
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Dynamic Floor
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Group Balanced Fund
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Group Bond
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Group Floating Rate
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Group Gilt
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Group Money Market
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Group Secure Capital Fund
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21-Jan-09
11:52
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Kotak Life ties up with DHFL Vysya
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15-Jan-09
14:10
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Kotak Life registered a growth of 63%
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24-Dec-08
14:50
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Kotak Life launches interactive Web site
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22-Oct-08
12:10
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Kotak Life launches Kotak long life
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16-Oct-08
11:59
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Insurance cover for student loans
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15-Oct-08
09:35
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Allahabad Bank signs MoU with Kotak Life Insurance
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01-Sep-08
09:35
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Other Insurers to follow Kotak's strategy on cut insurance cost
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28-Aug-08
20:41
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Kotak Life insurance brings down term plan rates up to 40%
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