Kotak Life Insurance

About Kotak Mahindra Insurance

Mahindra Kotak Life Insurance, a 100% subsidiary of Kotak Mahindra Bank Limited, was established in 2001. Kotak Mahindra Life Insurance is one of India's most reputable insurance firms and one of the fastest-growing insurance companies in India, covering over 34.8 million lives nationwide as of December 2021.

The company has designed a number of unique products and services to meet the ever-changing financial needs of a diverse customer base. Whether you are looking for protection plans, savings, and investment instruments, retirement plans, or child plans, Kotak Mahindra's portfolio is certain to make it relatively easy in finding the best product for you. The company offers solutions for group entities as well as individuals, ensuring that no matter what your investment requirements are, there is something that will help you meet your long-term goals. An array of additional riders are also available to customize the insurance plans for your convenience.

Continue reading to explore more about Kotak Life Insurance.

Key Features of Kotak Life Insurance

Below-mentioned are some of the key features of Kotak Mahindra Life Insurance company that let you get an insight into the company's performance, and will help you to make a better decision:

Plans Offered by Kotak Mahindra Life Insurance Company

Kotak Life Insurance offers over 20 insurance plans which provide financial security to the families of the policyholders after their demise. Take a look at the below section to explore all the Kotak Life Insurance Plans offered by the company under different categories:

1. Kotak Term Insurance Protection Plans

   Term Insurance plans are designed to safeguard your family if something unfortunate happens to you. IN such situations, the nominee will receive the death benefit along with other benefits as per the insurance plan.

   Plan Name	Entry Age	Maturity Age	Sum Assured
   Kotak e-Term Plan	18-65 years	75 years	Minimum: Rs 25, 00,000 Maximum: No Limit
   Kotak Term Plan	18-65 years	70 years	Minimum: Rs. 3,00,000 Maximum: Rs. 24,99,999
   Kotak Saral Jeevan Bima	18-65 years	70 years	Minimum: Rs. 5,00,000 Maximum: Rs. 25,00,000
   Kotak Protect India	Eighteen years	35 years	Minimum: `1,00,000 Maximum: `25,00,000

   Know More About: Kotak Life Investment Plans





2. Kotak Life Savings & Investment Plans

   Savings and investment plans offered by Kotak LIfe ensures that you are able to fulfill the future milestones without worrying about finances:

   Plan Name	Entry Age	Maturity Age	Sum Assured
   Kotak Assured Savings Plan	3-65 years	75 years	Rs. 1,57,806 to Rs. 25,00,000
   Kotak Premier Endowment Plan	18-60 years	70 years	Depends on minimum premium chosen
   Kotak Invest Maxima	0-64 years	75 years	NA
   Kotak Premier Moneyback Plan	2-57 years	75 years	Minimum: 1.5 lacs Maximum: No Limit, subject to underwriting acceptance
   Kotak Classic Endowment Plan	0-60 years	70 years	Determined on the basis of minimum premium amount, entry age, policy term, and PPT
   Kotak SmartLife Plan	3-55 years	75 years	Minimum: Rs. 2,50,000 Maximum: No limits, but it will be subject to Underwriting
   Kotak Premier Income Plan	3-55 years	78 years	Will be derived basis Premium, Age, Gender, PPT & Policy Term
   Kotak Sampoorn Bima Micro-Insurance Plan	18-55 years	60 years	NA
   Kotak Single Invest Plus	18-55 years	67 years	Sum Assured on 1st Death: 1.25 times of the Single Premium Sum Assured on 2nd Death: 10 times of the Single Premium
   Kotak Single Invest Advantage	8-45 years	58 years	10 times of Single Premium
   Kotak Platinum	0 to 65 years	75 years	Minimum: 7 times AP Maximum: 25 times AP
   Kotak POS Bachat Bima	12-45 years	65 years	Will be derived based on Premium, Age, Policy Term and Plan Option chosen.
   Kotak Guaranteed Savings Plan	3-60 years	75 years	Will be derived basis Premium, Age, PPT & Policy Term
   Kotak Ace Investment	0 to 65 years	75 years	NA
   Kotak e-Invest	3-60 years	75 years	10 times Annualized premium
   Kotak Wealth Optima Plan	3-65 years	99 years	Minimum: Rs. 2,00,000/-
   Kotak Assured Income Accelerator	0-60 years	85 years	10 times of annual premium
   Guaranteed Fortune Builder	3 Years	60 Years	50,000
   Fortune Maximiser	18 Years	65 Years	1,00,000
   Single Invest Plan	8 Years	45 Years	10,00,000

3. Kotak Life Retirement Plans

   With Kotak Retirement Plans. you can continue to live a carefree life even after your retirement with pension plans to back up your living expenses. This will not just help you maintain your living standards but will also allow you to fulfil all your desires by investing wisely and monitoring the investments on a timely basis.

   Plan Name	Entry Age	Policy Term	Minimum Annuity
   Kotak Premier Pension Plan	30-60 years	NA	Monthly: Rs.1000 per month Quarterly: Rs.3000 per quarter Half-Yearly: Rs.6000 per half year Yearly: Rs.12000 per annum
   Kotak Saral Pension Plan	40-80 years	NA	Monthly: Rs.1000 per month Quarterly: Rs.3000 per quarter Half-Yearly: Rs.6000 per half year Yearly: Rs.12000 per annum
   Kotak Assured Pension	45 Years	NA	10,00,000
   Kotak Lifetime Income Plan	45 Years	99 Years	Min: ` 50,000/- Max: No Limit

4. Kotak Life Health Plans

   Kotak Health Plans ensures that you look after your healthcare needs and avail the best services without wiping off your savings.

   Plan Name	Entry Age	Maturity	Sum Assured
   Kotak Health Shield Plan	18-65years	75 years	Min: Rs. 10,00,000 per Life Assured Max: Rs. 50,00,000 per Life Assured

   Know More About: Kotak Life Health Plans

Benefits of Kotak Mahindra Life Insurance

How Does Kotak Life Insurance Work

Kotak Life Insurance Plans Riders

Kotak Mahindra Life Insurance Company has orchestrated a list of riders, for a wholesome coverage for the policyholders.

Documents Required to Buy Kotak Mahindra Life Insurance

Proof of age

• Driving License
• Birth certificate
• School leaving certificate
• Passport
• PAN card
• Driving license
• Aadhaar Card

Photo ID Proof

• Passport
• PAN card
• Driving license
• Election Photo Identity Card (EPIC)(if acquiring)
• Aadhaar Card

Proof of the Residence

• Passport
• Driving License
• Aadhaar Card
• Voter ID
• Latest Updated bank account statement/ passbook
• Latest Utility bills for electricity, gas, or telephone
• Ration card
• Rental agreement(if you are a tenant)

Income details of the Buyer

• Latest salary slips
• Income Tax Returns(Previous 3 years)
• Audited profit/loss statements
• Employer's certificate(if any)
• Bank statement(Last 6 months)

Passport-sized photographs are mandatory, which are not more than 6 months old.

Medical records

• If any medical issue is mentioned by the insurer, the reports must be submitted.

How To File a Claim For Kotak Life Insurance Policies?

For Online process

• On the official website of Kotak Life, click on the 'How Do I?' section from the top menu.
• From there click on the File Claim option.
• The claimant has to fill out the online form named 'Book a New Claim'.
• Fill in all the basic details and generate an OTP to move to the next page.
• After that is done, the claimant has to submit all the required documents to the company.
• Kotak Mahindra will verify the claim and settle it within 7-15 days (if approved).

For offline process

• To initiate a claim, the claimant needs to submit the necessary documents, along with the claim intimation form at the nearest Kotak Mahindra Branch office. The form can be downloaded online or can be acquired from the branch.
• After all the internal verifications, the claim will be processed within 7-15 days (if approved) by the Kotak Life Insurance Claims Department and the payout will be settled.

How Can I Contact Kotak Life Insurance?