Kotak Life Insurance
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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.

Kotak Life offers various categories of insurance plans to secure the financial future of your loved ones and yourself. Term insurance plans, Wealth creation plans, Protection plans, Retirement plans, and Savings plans. The wide range of products available under Kotak Mahindra Life Insurance Company ensures that all your and your family's dreams are fulfilled.

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:

  • Solvency Ratio
    The solvency ratio is one of the important factors that should be considered while selecting an insurance company. It helps policyholders to assess the ability of a company to meet its financial obligations.IRDAI has mandated the companies to maintain a solvency ratio of 1.5. At present, the Solvency Ratio of Kotak Life stands at 3.
  • Claim Settlement Ratio
    The claim settlement ratio of an insurance company highlights the number of claims settled by it. Hence, it helps potential buyers determine a company's claim settlement capacity. The company's claim settlement ratio for 2020-21 stands at 98.50%.
  • Annual Premium
    Kotak Life Insurance showcased a strong holding in terms of market share in the financial year 2020-21 with Rs. 11100.22 crores annual premium.
Kotak Life Insurance Key Features

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

    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
  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
  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

Life Insurance Companies

Compare and buy the most suitable Life Insurance Plan from the below-mentioned IRDAI-approved Life Insurance companies.

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?

Call on toll-free number 1800 209 8800 (8:00 am to 10:00 pm), and their representative will help you buy the most suitable plan.

93210 03007

Life Insurance Articles

Kotak Mahindra Life Insurance: FAQ's

1. Can I avail loan under my Kotak Assured Income Accelerator plan?

You can avail of loans up to 80% of Surrender Value subject to a minimum loan amount of Rs. 10,000.

2. Can the claim amount received as a death benefit be repatriated outside India?

For all policies including those under the Non-Resident Indian Insurance Scheme, the claim amount cannot be repatriated out of India.

3. Can I surrender my Kotak Mahindra life insurance policy before maturity?

Yes, you can surrender your policy before maturity. However, once the surrender value is paid, your policy will get terminated. The surrender value of your policy will solely depend upon the plan and benefits chosen by the policyholder.

4. What are the various riders offered by Kotak Life Insurance?

The riders available by Kotak Life Insurance are:

  • Accidental Death Benefit Rider
  • Permanent Disability Benefit Rider
  • Critical Illness Benefit Rider
  • Term Benefit Benefit
  • Kotak Preferred Term Benefit Rider
  • Kotak Life Guardian Benefit Rider
  • kotak accidental disability guardian benefit

5. What is a free look period? And is it available on all policies?

A policyholder has the option to return the original policy within 15 days from the date of receipt of the policy. And yes, a free look period is available on all policies.

6. Can I download the statements of my Kotak Life Insurance Plans?

Yes, the Kotak Mahindra Life Insurance policy allows you to download and check the statements of your policy. All you have to do is visit the official website, click on the "How to Do I" tab, and then select "Download Statements". Then on the next page, fill in the details such as Policy Number & Date Of Birth of Policyholder (dd/mm/yyyy), and proceed.

7. How can I check the status of my Kotak Life Insurance policy?

To check the status of your Kotak Mahindra Life Insurance policy, you need to visit the official website of Kotak Life Insurance Company and click ok "How Do I" tab.

Then click on'Manage My Policy,' and log in using your registered cellphone number.

8. What are the available premium payment modes of Kotak Life Insurance Plans?

Net Banking, Debit/Credit cards, E-wallets, and Bill Desk are all options for paying premiums online with Kotak Life Insurance.

9. Is it possible to cancel my Kotak Life Insurance before it matures?

Yes, you have the option of surrendering your policy before it matures. The policy is terminated whenever the Surrender Value is paid out.

What Our Customers Have to Say

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Prerna Kumari

Mumbai

July 11, 2022

Good company. Presents nice term insurance plans and flexible plans also. My husband has brought one for the family.

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Priya Sangwan

Mumbai

July 11, 2022

IndiaFirst Term Insurance company ensures that your family s needs are looked after. One of the best companies offers a term plan per your needs.

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Priyanshi Deewan

Hyderabad

July 6, 2022

I recently received the claim amount of the policy that my husband had brought for us. I am glad that the company understands the needs of its customers and their families. Well done Canara HSB...

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Rishabh Kumar

Delhi

July 6, 2022

I bought a term plan with Canara HSBC for the protection of my family and have been satisfied with the benefits received. It is simple and easy to buy their plans.

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Samarth Gaur

Chennai

July 6, 2022

I am very happy with the term plans offered by the Canara HSBC Life Insurance company. The plans offer comprehensive coverage and I am sure will support my family after my demise.

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Vipul Bhardwaj

Coimbatore

June 9, 2022

Bharti AXA is a good life insurance company, and I am sure if something ha[opens to me, the company will look after my family s needs.

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Karan Veer

Mumbai

June 6, 2022

Kotak Mahindra company has fast customer service and sells good life insurance policies. I suggest all my friends and family also buy a life cover policy from Kotak Mahindra company.

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Urvashi R

Delhi

May 31, 2022

Hey everyone, just wanted to say that Kotak Mahindra Life Insurance is one of the best life insurance companies. You can even you should go for this company if you want to secure your family s ...