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Insurance & Investments

Ensure you and your loved ones’ protection with the financial cover that suits you.

"For more details visit our nearest branch".

 

  • Life Insurance
  • General Insurance
  • Health Insurance
  • Investment

Traditional Plan -

Traditional insurance Plans provide multiple benefits like cover, fixed income return, safety and tax benefits.


Term Plan -

Term Insurance a type of life insurance, it provides coverage for a certain period of time or years, and if the insured dies over the policy tenure a death benefit is payable to nominee.


Unit Linked Insurance Policy (ULIP) -

A Unit Linked Insurance Plan is a product offered by insurance companies that, unlike a pure insurance policy, gives Investors both insurance and investment under a single integrated plan.

Commission Disclosure:

As per RBI circular : RBI/2009-10/225 dated November 16, 2009, following are the commission details, which Utkarsh Small Finance Bank earn from ICICI Prudential life insurance co. ltd and HDFC Life insurance co. ltd and Bharti AXA Life Insurance Co. ltd. On the sale of life insurance products in its capacity as corporate agent under the corporate agency arrangement in line with IRDAI :

Commission from Life Insurance
  First Year Commission 2nd Year renewal commission
Category Minimum Maximum Minimum Maximum
Protection 2% 40% 0% 7.50%
Saving and Investment 10% 35% 0% 7.50%
Group Product 5% 5% 0% 0%

Note: The commission is varies depending upon the product in each category, tenure, premium paying term and premium amount.

BEWARE OF SPURIOUS/FRAUD PHONE CALLS

1. IRDAI not involved in activities like selling of insurance products, announcing bonus or investment of premium.

2. Public receiving such phone calls are requested to lodge a police complaint.

Motor Insurance -

As per Motor Vehicles Act, 1988 it is mandatory for every owner of a vehicle plying on public roads, to take an insurance policy, to cover the amount, which the owner become legally liable to pay as damages to third parties as a result of accidental death, bodily injury or damage to property.


Health Insurance -

Health policy is a policy that ensures that you get cashless treatment or expense reimbursement, in case you fall ill. It is contract between a General Insurance company and one, which considers expenses incurred when availing treatment.


Personal Accident Insurance -

Personal Accident Insurance is a policy that cover a person against any accidental injury or death.


Home Insurance -

Home Insurance policy provides cover for your home and belongings, it which includes: cover for fire & allied perils and Burglary includes theft and larceny under one policy. Covers Structure & household contents.


Fire Insurance -

Insurance taken out to cover the cost of damage caused by fire and Natural perils.

Commission Disclosure:

As per RBI circular : RBI/2009-10/225 dated November 16, 2009, following are the commission details, which Utkarsh Small Finance Bank earn from HDFC Ergo General insurance co. ltd ,Kotak Mahindra General Insurance co. ltd and Future Generali India Insurance Company Limited on the sale of General insurance products in its capacity as corporate agent under the corporate agency arrangement in line with IRDAI.

General Insurance - Health Insurance - Reg 5 (c)
S.No. Line of business (Other than Motor) Maximum Remuneration payable to insurance intermediary
1 Health Insurance 15%
General Insurance ( Other than Motor ) - Reg 5 (d)
The Maximum commission / remuneration as a percentage of premium is allowed for General Insuarance (Other than) Motor is as under :
1 Fire – Retail 16.50%
2 Fire-commercial (Risks with S.I. Rs 11.50%
3 Fire-commercial (Risks with S.I. Rs 2,500 crs) 6.25%
4 Marine-Cargo 16.50%
5 Marine-Hull 11.50%
6 Miscellaneous – Retail 16.50%
7 Miscellaneous – commercial/ Group 12.50%
8 Miscellaneous – commercial (Engineering Risks with S.I. > Rs 2,500 crs) 6.25%
General Insurance ( Other than Motor ) - Reg 5 (e)
1 Motor ( Comprehensive )* 15%
2 Motor ( Stand-alone TP ) 2.50%
* - Commission/ remuneration shall be payable only to the OD portion of the Motor Comprehensive) policy.
3 2 Wheelers 17.50%

Note: The commission is varies depending upon the product in each category, tenure, premium paying term and premium amount.

BEWARE OF SPURIOUS/FRAUD PHONE CALLS

1. IRDAI not involved in activities like selling of insurance products, announcing bonus or investment of premium.

2. Public receiving such phone calls are requested to lodge a police complaint.

Individual Health Insurance -

An Individual Health Insurance plan as the name suggest is meant for a single person. The individual who gets himself/herself insured with this plan is compensated for the expenses incurred due to illness. Such a medical insurance plan covers the hospitalisation cost, surgery cost, pre and post hospitalization expenditures up till the insured limit.


Family Health Insurance -

Popularly known as the Family Floater Plan, Family Health Insurance Policy secures your entire family under a single cover. It covers all the members of your family including your spouse, kids, and elders. Only one member of the family has to pay the premium, and the entire family gets insured in that premium.


Critical Illness Insurance -

The Critical Illness Insurance plan insures the person by offering a lump sum amount of money for life-threatening diseases. At the time of buying the insurance, the chosen health problems are included, and if the insurer gets affected by any of the pre-selected conditions, he /she can claim the insurance. Only the diagnosis of the disease can make one avail the benefits of the critical illness insurance.

Aditya Birla Health Insurance Co. Ltd.

Utkarsh Small Finance Bank Ltd. has entered into a corporate agency agreement with Aditya Birla Health Insurance Co. Ltd. Utkarsh Bank has entered into this arrangement to distribute Health Insurance solutions to its customers.

Aditya Birla Health Insurance Co. Limited (ABHICL), a part of Aditya Birla Capital Ltd. (ABCL), is a joint venture between Aditya Birla Group and MMI Holdings of South Africa. ABHICL was incorporated in 2015 wherein Aditya Birla Capital Limited (ABCL) and Momentum Metropolitan Strategic Investments (Pty) Limited hold 51% and 49% shares respectively. ABHICL commenced its operations in October 2016 and is engaged in the business of health insurance. Company’s current product portfolio includes unique offerings including chronic care and incentivized wellness, having its registered office at 9th Floor, One World Centre, Tower-1, Jupiter Mill Compound, Senapati Bapat Marg, Elphinstone Road, Mumbai 400013.

Disclaimer

Insurance is the subject matter of Solicitation. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. Utkarsh Small finance Bank Limited is authorized by the Insurance Regulatory and Development Authority to act as a Corporate Agent from 07-04-2023 to 06-04-2026 for procuring or soliciting insurance business of Aditya Birla Health Insurance Co. Limited under Registration Code “CA0482.”

Commission Disclosure:

As per RBI circular : RBI/2009-10/225 dated November 16, 2009, following are the commission details, which Utkarsh Small Finance Bank earn from Aditya Birla Health Insurance co. ltd. On the sale of health insurance products in its capacity as corporate agent under the corporate agency arrangement in line with IRDAI :

Commission from Health Insurance
S.No. Line of business Maximum Remuneration payable to insurance intermediary
1 Health Insurance 15%

Note: The commission is varies depending upon the product in each category, tenure, premium paying term and premium amount.

BEWARE OF SPURIOUS/FRAUD PHONE CALLS

1. IRDAI not involved in activities like selling of insurance products, announcing bonus or investment of premium.

2. Public receiving such phone calls are requested to lodge a police complaint.

Ensure that your future needs and long-term aspirations are fulfilled. Start today by investing your surplus in a plan that best suits your goals.

"For more details visit our nearest branch"

Mutual Funds:

It’s an investment programme funded by shareholders and is professionally managed and traded in diversified holdings, thus minimising the market risk.

Equity Schemes:

These primarily invest in shares. Based on the objective, investments could be in growth stocks, where earnings growth is expected to be high or value stocks. Here the view of the fund manager is that current valuations in the markets do not reflect the intrinsic value.

Debt or Income Scheme :

This scheme generally invests funds in fixed-income securities, mainly in government securities and corporate bonds, with various maturities. The investor earns returns from interest income on its investments and profits on trading securities. These funds are comparatively less risky.

Balanced Schemes:

Balanced schemes invest in a mix of equity and debt. The debt investments ensure a basic interest income, which the fund manager hopes to top with a capital gain from the investment in equities. However loses can eat into basic interest income and capital.

Monthly Income Plans:

MIPs aim to provide consistency in returns by investing a major part of the portfolio in debt market instruments with a small investment in equities. Thus, these funds are more suited for investors who along with protection of capital seek some capital appreciation. However, the monthly income is not assured.

Equity Linked Saving Scheme :

ELSS is an open-ended equity growth scheme that is offered by Mutual Funds in line with existing ELSS guidelines. The investments are subject to a lock-in period of 3 years and, as per the Finance Act 2005, are allowed the benefit of income deduction up to Rs. 1,50,000. This scheme offers the benefits of tax saving and capital gains. Instead of spreading your investments across different instruments such as PPF, ELSS, NSC and infrastructure bonds, you can now invest the entire limit of Rs. 1,50,000 available under Sec 80(C) in ELSS.

Systematic Investment Plan:

An SIP is a convenient way to accumulate wealth in a disciplined manner for a long-term. It helps you to invest regularly in small Installments and thereby build wealth over a period of time. This plan is best for young people looking for investment plans.

DISCLAIMER

Mutual fund investments are subject to market risks, please read all scheme related documents carefully. Utkarsh Small Finance Bank Limited shall not be liable or responsible for any loss or shortfall resulting from the operations of the Mutual Fund scheme. Terms and conditions of Utkarsh Small Finance Bank and third parties apply.

Commission Disclosure:

In accordance with the extant regulations (SEBI circular: SEBI/IMD/CIR No. 4/ 168230/09 and (RBI circular : RBI/2009-10/225 dated November 16, 2009) following are the details of the comparative commission earned by the Bank from various fund-houses, whose products are being distributed

Brokerage from Mutual Fund
Category Minimum Brokerage Maximum Brokerage
Equity Funds 0.60% 4.20%
Hybrid Funds 0.40% 4.30%
Debt Funds 0.02% 3.00%
Other Funds 0.05% 3.00%

Note: The brokerage is varies depending upon the fund and fund-houses, whose products are being distributed.

The above mentioned rates are subject to change without any prior consent and at a discretion and agreement between Utkarsh Small Finance Bank and the respective AMCs.