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Overview

Kotak Mahindra Life Insurance: Overview

Kotak Mahindra Life Insurance, a 100% subsidiary of Kotak Mahindra Bank Limited, was established in 2001. It is one of India's most reputable and fastest-growing insurance firms, covering over 34.8 million lives nationwide as of December 2021. The company has designed several 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 offers a wide range of products to meet your needs. The company provides 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.

Kotak Mahindra Life Insurance caters to your insurance needs by offering:

Reliable and hassle-free claim settlement
24/7 customer service
A wide variety of options
Longer coverage

COMPANY DETAILS

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Kotak Mahindra Life

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Icici Ulip Plans

Rating	Rating 4.6	Rating 4.6
Number of life insurance plans and add-ons	No. of Plans - ❯	No. of Plans - ❯
Annual Premiums Collected (2024-25)	Annual Premiums Collected (2024-25) ₹ 375.66 crores	Annual Premiums Collected (2024-25) ₹ Rs 1 lakh to No limit
Payout Options	Payout Options Lump sum, regular frequencies or a combination of both	Payout Options -
Claim ratio	Payout Options 98.61%%	Payout Options Minimum Age- 14 year%
Solvency Ratio	Solvency Ratio 2.45	Solvency Ratio 70 years
Pan India Presence	Pan India Presence 318	Pan India Presence Annual, half-yearly,
Riders Available	Riders Available Accidental Death Benefit Rider, Waiver of Premium Rider, Critical Illness Rider, Permanent Disability Benefit Rider, Income Benefit Rider	Riders Available 10 to 30 years
Policy Term	Policy Term 5 to 40 years	Policy Term 10 to 30 years
Inception year	Inception year -	Inception year -
Complaint ratio per ₹1 crore of premium collected	Complaint ratio per ₹1 crore of premium collected -	Complaint ratio per ₹1 crore of premium collected -
Average claim settlement time	Average claim settlement time -	Average claim settlement time -
IRDAI registration number	IRDAI registration number -	IRDAI registration number -
Awards and recognitions	Awards and recognitions -	Awards and recognitions -

Riders

Riders Available with Kotak Life Insurance Plans

Name of the Riders	Benefits
Kotak Accidental Death Benefit Rider	If the policyholder passes away due to an accident, additional benefits are paid to their nominee, along with the basic plan cover.
Kotak Critical Illness Plus Benefit Rider	If the policyholder is diagnosed with pre-specified illnesses, benefits are paid to them or their family.
Kotak Accidental Permanent Disability Rider	If the policyholder becomes permanently disabled due to an accident, benefits are paid under this rider.

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