Find out everything about Kotak Health Insurance Company, its features, types of health insurance plans offered, eligibility criteria, exclusions, buying process, claim process and contacting details.
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Kotak General Insurance is a 100% subsidiary of Kotak Mahindra Bank Ltd. The company started operations in 2015 after receiving its license from IRDAI. Ever since its emergence, Kotak Insurance company has delivered various products and has established a wider presence across the country. The company offers a wide range of non-life insurance products that are designed to cater to every need of the customer, including health insurance plans, car insurance plans, and bike insurance plans.
With the comprehensive range of Health Insurance plans offered by Kotak Health Insurance company, the insurer ensures to fulfill the varied needs from different sections of the society with its specialized products. With its wide range of health products, the company lets you choose the best-suited plan for yourself and your family.
Continue reading to explore more about Kotak Mahindra Health Insurance company.
Kotak General Insurance has received several awards and achievements over the past few years. Given below is a list of few such awards:
As per IRDAI, 29 companies offer health insurance products in India. Given such a wide range of health insurance companies available in the market, it is quite obvious for a customer to feel confused about which company he/she should select. To help customers overcome this problem we've compiled a list of the key features of Kotak General Insurance. In the below section we have evaluated the performance of Kotak Health Insurance on the basis of its solvency ratio, claim support, network hospitals etc.
Customers can go through the list to check if their requirements match with this company's services and then decide about buying a health insurance policy from the company. Kotak Mahindra Health Insurance company.
Network Hospitals | 4000+ |
Solvency Ratio | 2.42 |
Claim Support (within 3 months) | 98.62% |
Annual Gross Premium 2019-20 | Rs. 105.68 crores |
Branches Across India | 19 |
Employees | 790+ |
**Last Updated on May, 2021
Given below is a brief explanation of these features. Let's understand them in detail.
Having a health insurance policy from an insurer that provides the facility of cashless hospitalization proves to be a blessing in disguise. This is because cashless hospitalization allows policyholders to avail medical treatment in any of the network hospitals without worrying about the expenses since the hospital bills are settled by the insurance company.
Kotak General Insurance has a long list of network hospitals where the policyholder can avail cashless treatment facility. At present, the company has partnerships with more than 4000 hospitals across the country.
Let's have a look at the graph below to get better insights about the network hospitals offered by Kotak in comparison to top 10 companies based on network hospitals.
Comparison between Kotak Health Insurance and other top insurance companies based on network hospital
The business reputation and market performance of any insurance provider can be determined through its annual premium. You can refer to the chart below that highlights the increase in the annual premium of Kotak Insurance Company from 2016-17 to 2019-20.
Annual Premium of Kotak General Insurance Company from 2016- 2020
**Data from IRDAI Annual Reports
The claim support ratio is a useful parameter that shows the number of claims settled by the company during the last three months and helps in analyzing its claim settling capability. Customers are advised to opt for an insurance company that has a high claim support ratio.
Kotak General Insurance has a claim support ratio of 98.62%. Given below is a comparison between Kotak and the top competitors based on the claim support ratio.
Comparison of Claim Support Ratio of Kotak Health Insurance company with other top insurers
**Data from IRDAI Annual Reports
Another important factor that should be considered while buying a health insurance plan is to check the financial background of the insurance company. And for this, customers should check the solvency ratio as it helps in measuring the ability of the company to meet its long-term debt obligations and other monetary commitments. As per IRDAI, all insurance companies in India are obliged to maintain a minimum solvency ratio of 1.5, and Kotak General Insurance has been able to match this criterion. At present, the solvency ratio of the company is 2.42.
The graph given below shows the solvency ratio record of Kotak for the last 4 years. Let's have a look.
Solvency Ratio of Kotak Health Insurance Company from 2016-17 to 2019-20
**Data from IRDAI Annual Reports
Kotak General Insurance majorly deals in 8 types of health insurance plans to fulfill the insurance needs of a diverse range of customers. The table below provides a quick overview of Kotak Health Insurance Plans.
Read below to get an insight into the plans offered by Kotak Mediclaim Insuranceand explore what features and benefits they have to offer you:
Plan Name | Type of Plan | Who Should Buy |
Kotak Secure Shield | Critical Illness Insurance | This plan provides cover against the expenses incurred on treating critical illnesses |
Kotak Health Care | Family Health Insurance | The policy offers comprehensive coverage to protect the medical needs of the policyholders and their family members. |
Kotak Accident Care | Personal Accident Insurance | The plan covers the medical expenses of the insured and his family members arising due to accidental injury, disability, or death. |
Kotak Super Top-up | Mediclaim Health Insurance | This policy is suitable for people who want comprehensive coverage at affordable rates. |
Kotak Health Premier | Mediclaim Health Insurance | This is a comprehensive health policy that comes with protection plus rewards and value-added benefits. |
Arogya Sanjeevani Policy | Family Health Insurance | This standard health insurance plan offers wider coverage for the entire family of the insured at affordable premium rates. |
Corona Kavach Policy | COVID-19 Health Insurance | Corona Kavach provides coverage against hospitalization expenses arising due to COVID-19. |
Corona Rakshak Policy | COVID-19 Health Insurance | This policy offers coverage in the form of a lump-sum payment to the insured if detected with COVID-19. |
**Last Updated on May, 2021
Let's have a detailed discussion of each of these Kotak Health Insurance Plans.
Kotak Secure Shield is a critical illness insurance plan that protects you and your family against unforeseen adversities by providing financial coverage for expenses associated with a variety of illnesses (as listed in the policy).
Key features:
Eligibility Criteria:
Criteria | Minimum | Maximum |
Entry age | 18 years | 65 years |
Renewal Age | Life-long renewals | |
Policy Period | 1, 2 & 3 years |
**Last Updated on May, 2021
Kotak Health Care is a comprehensive health insurance plan that ensures you and your family are financially protected against medical emergencies. The plan comes in three variants- Excel, Platinum & Prime.
Key Features:
Eligibility Criteria:
Criteria | Excel | Premium | Prime |
Base Sum Insured | 2 lakhs, 3 lakhs, or 4 lakhs | 5 lakhs, 10 lakhs, 15 lakhs, 20 lakhs, or 25 lakhs | 10 lakhs, 15 lakhs, 20 lakhs, 25 lakhs, 50 lakhs, 75 lakhs, or 100 lakhs |
Minimum Entry Age | Individual- 5 years Floater- 91 days | ||
Maximum Entry Age | Individual- 65 years Floater- 65 years Dependent Children- 25 years | ||
Policy Term Period | 1, 2, & 3 years |
**Last Updated on May, 2021
The policy is specially designed to cover you and your family in case of an accidental injury, disability, or death.
Key Features:
Eligibility Criteria:
Criteria | Minimum | Maximum |
Entry age | 5 years | 65 years |
Renewal Age | Life-long renewals | |
Policy Period | 1, 2 & 3 years |
**Last Updated on May, 2021
With the Kotak Super Top-up plan, you can enhance your health insurance coverage at affordable rates. In other words, the plan offers additional coverage to the policyholder to meet his/her medical expenses.
Key Features:
Benefits | Availability |
Long Term Cover | 2 & 3 years |
Tax Benefits | Available |
**Last Updated on May, 2021
Kotak Health Premier is a comprehensive health insurance plan that forms a financial bubble around you and your family against rising medical expenses. The plan offers rewards and value-added benefits to help you stay fit.
Key Features:
Eligibility Criteria:
Criteria | Minimum | Maximum |
Entry age | 91 Days for Child 18 Years for Adult | 25 years for Child 65 years for Adult |
Renewal Age | Life-long renewals | |
Policy Period | 1, 2 & 3 years |
**Last Updated on May, 2021
Arogya Sanjeevani policy from Kotak General Insurance is a standard individual health insurance plan that offers medical coverage to individuals and their families at affordable premiums.
Key Features:
Eligibility Criteria:
Criteria | Minimum | Maximum |
Entry age | 18 years | 65 years |
Sum Insured Amount | Rs. 1 lakh | Rs. 5 lakhs |
Policy Period | 1 year |
**Last Updated on May, 2021
Corona Kavach policy is a standard individual health insurance policy that protects you against hospitalization expenses that occur due to COVID-19.
Key Features:
Eligibility Criteria:
Criteria | Minimum | Maximum |
Entry age | 18 years | 65 years |
Sum Insured Amount | Rs. 50,000 | Rs. 5,00,000 |
Policy Period | 3.5 months, 6.5 months, and 9.5 months |
**Last Updated on May, 2021
Corona Rakshak is a standard individual health insurance policy that provides a lump-sum benefit to the insured if detected with COVID-19 (by a government-authorized diagnostic centre). To avail of policy benefits, a minimum continuous period of 72 hours is required.
Key Features:
Eligibility Criteria:
Criteria | Minimum | Maximum |
Entry age | 18 years | 65 years |
Sum Insured Amount | Rs. 50,000 | Rs. 2,50,000 |
Policy Period | 3.5 months, 6.5 months, and 9.5 months |
**Last Updated on May, 2021
Below is a list of few general exclusions applicable under Kotak Health Insurance plans. To get more details about plan-specific exclusions, refer to its policy document.
For the customer's convenience, Kotak Health Insurance policy can be easily bought online. There are two methods by which customers can purchase Kotak health insurance plans. These methods include buying the plan from either:
Here is a step by step guide for buying the plan online:
Once the payment is done, the policy details will be mailed to your registered email address.
You can also buy it from PolicyX.com. Here are the steps you can follow:
It is important to have knowledge about the claim process of the insurer so that the customer can avoid any stress during a medical emergency. Below is the complete guide that tells how customers can file claims for their Kotak health insurance policy. Let's have a look.
If you are admitted to one of Kotak General's network hospitals, you have to follow the below steps-
You have the option to get yourself treated at a non-network hospital, and file for reimbursement with the following steps:
For Cashless claim:
For Reimbursement claim:
The claim documents, duly completed, should be submitted at the following address as early as possible, but no later than 30 days from the date of discharge (in case of reimbursement).
Health claims department address:
Family Health Plan Insurance TPA Limited, Srinilaya - Cyber Spazio, Suite # 101,102,109 & 110,
Ground Floor, Road No. 2, Banjara Hills, Hyderabad: 500034, Telangana, India.
Corporate Office Address: 8th Floor, Zone IV, Kotak Infinity, Bldg. 21, Infinity IT Park, Off WEH, Gen. AK Vaidya Marg, Dindoshi, Malad (E), Mumbai - 400097. India
Telephone: 1800 266 4545 (Toll-free)
E-Mail: care[at]kotak[dot]com
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Yes, as per the IRDAI guidelines, a policyholder has the option to return the original policy within 15 days from the date of receipt of the policy.
Customers can renew their policy online from the company's website. Process for the same is given below:
Alternatively, customers can also place a free cheque pick-up request by calling the company's toll-free number: +1800 266 4545.
In the reimbursement claim method, Kotak General Insurance processes the claim within 15 working days from the receipt of complete documents. And in case of cashless claims, the company conveys its decision on the cashless mode within 6 business hours from the receipt of complete details.
Yes, the plan offers maternity cover, provided all the below 3 covers are taken together.
Yes, medical as well as treatment expenses during the quarantine period towards COVID-19, are covered under the policy. Customers should submit prescriptions from Govt. doctor certifying the need to be quarantined along with a Medical test report for COVID-19. Please note that no coverage is provided on account of self-quarantine or quarantine at home.
Yes, the company offers a separate channel for addressing claims and grievances of senior citizens. One can drop their concerns at: seniorcitizen@kotak.com
Yes. Premiums paid for Kotak Medical Insurance policies are eligible for tax deductions under Section 80D of the Income Tax Act 1961.
Yes, one can customize their Kotak Health Insurance plans by paying additional premiums and opting for health insurance riders.
To check the claim status of your Kotak Mediclaim follow the below steps:
(Showing latest 5 reviews only)
February 21, 2022
pritam
JalandharSeptember 13, 2021
Vishas Kumar
Chandigarh100 ON 100 to this amazing health company. Best health insurance products with the best services. Glad to be your customer. Thumbs Up to you.
September 13, 2021
Konkana Sen Gupta
ChandigarhHappy to be a proud customer of Kotak Health Insurance Company. With their customer-centricity attitude, the company will soon be the no. 1 health insurance provider.
September 13, 2021
Rakshit Bazaz
JaipurI was very doubtful in the beginning about buying health insurance but Kotak has supported me at my worst, Now I am very thankful to the company for helping its customers with their medical needs.
September 13, 2021
Vishwajit Ray
LukhnowVery nice company with a vast variety of health insurance products. I am sure that in any medical need the company will be my saviour.
Last updated on August, 2021
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Very good company. our take care is their 1st priority. Good staff, advisors are educated. listen to our requirement and then help fully