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Sahil Singh Kathait
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Sahil

Sahil Singh Kathait

Health & Term Insurance

A boy-in-squares bagging escapades of switching streets in groove & sensing musical airy-notes from 6 1". Under wayed nyctophile sketching the walls of life from the panorama of anime.

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Reviewed By:
Sharan Gurve

Sharan Gurve

Term & Health Insurance

Sharan Gurve has spent over 9 years in the insurance and finance industries to gather end-to-end knowledge in health and term insurance. His in-house skill development programs and interactive workshops have worked wonders in our B2C domain.

Updated on Jul 09, 2025 8 min read

Kotak Mahindra Life Insurance: Overview

Kotak Mahindra 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 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 is certain to make it relatively easy to find 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 Mahindra Life Insurance ensures to look after your insurance needs by offering:

why-choose

  • Reliable and hassle-free claim settlement

  • 24*7 customer service

  • A wide variety of options

  • Longer coverage

 

Key highlights of Kotak Life Insurance

To get more insight into Kotak Life Insurance Company's performance, take a look at the below key highlights that will help you to analyze the company based on its performance:

Solvency Ratio

Kotak Life Insurance has a Solvency Ratio of 2.6 as per the IRDAI annual report 2023-24. The solvency ratio helps the prospective policyholder assess the ability of a company to meet its financial obligations. As of now, IRDAI mandates maintaining a solvency ratio of 1.50 for every insurer.

Features of Kotak Mahindra Life Insurance

There are various features of Kotak Mahindra Life Insurance. Let's understand each of them in detail:

  • Solvency Ratio - The solvency ratio of the company helps an individual ascertain the company's ability to meet its long-term financial obligations. The Solvency Ratio of Kotak Mahindra Life Insurance Company for 2022-23 is 2.6. (As per the IRDAI, every life insurer must maintain a solvency ratio of 1.5).
  • Claim Support - The company holds a good and reliable claim-settling process with a CSR of 99.01%. (CSR as per IRDAI report of the year 2022-23). Kotak Mahindra Life Insurance holds one of the highest claims settlement ratios amongst all the insurance companies.
  • Annual Premiums - As per the IRDAI report 2022-23, Kotak Mahindra life insurance recorded an annual premium of Rs. 2,920.58 crores.
  • PAN India Presence - Kotak Mahindra Life Insurance Company has 250+ branches across India and additional distribution touch-points through several new tie-ups and partnerships. Apart from its PAN India presence, it has consultants who will guide you through its wide array of products and help you pick what is right for you.

Benefits of Kotak Insurance Plans

There are multiple benefits of Kotak Life Insurance Plans. Read below to understand the plethora of advantages provided by the insurer.

Economical term plans

The nominal premiums of Kotak Life ensure that they fit within your budget.

Longer coverage

You can opt for term insurance plans with longer coverage options that offer Life covering up to the age of 85, and you can also receive whole life insurance up to the age of 99.

A wide variety of options

Kotak Life Insurance recognizes the various needs of every individual and therefore offers multiple alternatives. Besides, there are a variety of riders available to supplement your term insurance coverage.

24*7 customer service

Kotak Life is connected with its customers through various channels, which include phone, email, and social media assuring them a quick response despite the gravity of their query.

Tired of Pushy Sales? Get Insurance, Your Way Tired of Pushy Sales? Get Insurance, Your Way

Riders You Can Avail With Kotak Life Insurance Plans

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

Documents Required to Purchase Kotak Life Insurance Policy

Here is the list of documents required to buy Kotak Life Insurance Plans:

  • Regular Smoking
    Photo ID Proof
  • Your Occupation
    Age Proof
  • Pre-Existing Diseases
    Address Proof
  • Your Age
    Medical Records
  • Your Gender
    Income Proof
Photo ID Proof

Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.

How to Buy Kotak Life Insurance Plans?

Kotak Life Insurance allows you to buy life insurance plans via two platforms. You can either buy the plan online from the official website of the company or through third-party intermediaries like agents, brokers, etc. Given below is a detailed explanation of both these types of buying processes.

Life Insurance
  • Step 1

    Fill out the form given at the top of this page with the necessary details.

  • Step 2

    Select your income and city. Click on 'Proceed'.

  • Step 3

    Update your education and occupation details.

  • Step 4

    Choose your preferred plan and click on 'Buy this plan'.

  • Step 5

    Select the policy term, premium period, and riders (if required), and then proceed to make the payment. Once the payment is made, you will get a payment confirmation at your registered email address.

Life Insurance
  • Step 1

    Visit the Kotak Life Insurance Company official website and scroll down to the end of the page.

  • Step 2

    Click on the "Buy Online" tab under Popular Links.

  • Step 3

    Click on the tab 'Know More' under types of plans.

  • Step 4

    Click on the tab 'Calculate' at the top right corner of the page.

  • Step 5

    Fill in the required details, and click on the tab 'Calculate'. Once the payment is made, you will get a payment confirmation at your registered email address.

Why Choose PolicyX.com?

Don't just take our word for it - check out what our happy customers say about us!

All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.

Ravindra Singh

I highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.

Priti varshney

I'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.

Nisha Mary

I bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.

Ajay Shah

PolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.

Vijay Rathod

I purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.

Uma Mahajan

How to File Kotak Life Insurance Claims?

Every claimant/nominee is assigned a dedicated Claims Relationship Officer who helps through the entire process. The life insurance claim Settlement process at Kotak Life Insurance involves the following three steps:

Online Process

Your Occupation
1

Claim Intimation

Inform the company about the incident via various channels-either by writing an email to Kotak Life at service@kotaklife.com, calling the toll-free number (1800-102-4444), filling out the online claim form on its website, or visiting the nearest branch. A claim reference number/intimation number will be provided to you upon successful registration of the claim.

Your Occupation
2

Document Submission

You have to submit the necessary documents requested by the insurer to process the claim.

In case of natural death: death claim form, death certificate, original policy documents, claimant's identity & residence proof, medical records, and account details of the nominee.

In case of an accidental death: the same documents with two additional ones: FIR and post-mortem report.

Your Occupation
3

Claim Settlement

Once Kotak Life receives your claims they will verify all the details. Moreover, they can ask you for any additional documents if required. Kotak Life Insurance will send you a claim reference number after verifying the submitted documents.

Offline Process

Kotak Life Insurance claims settlement procedure can be reported by visiting the local Kotak Life Insurance branch office. For the details of Kotak Life Insurance branches, you can visit their website and locate the nearest branch. You have to submit the essential documents  at the branch so that your claim can be processed.

Your Occupation

Exclusions of Kotak Mahindra life insurance

  • Death due to pandemics such as COVID-19 or ebola will not covered by the company.
  • Death, due to indulging in any type of adventure sports.
  • Death due to consumption of any type of drugs and alcohol.
  • Death due to any pre-existing disease that isn't mentioned during the start of the policy.
  • If a policyholder commits suicide during the first 12 months after obtaining the insurance, the nominee receives no death benefit. They receive just the premiums paid up to the incident date or the policy's surrender value, whichever is greater. If a policyholder commits suicide during the first 12 months after obtaining the insurance, the nominee receives no death payments. They receive just the premiums paid up to the incident date or the policy's surrender value, whichever is greater.

Conclusion

Kotak Life Insurance stands out as a trusted provider offering comprehensive life insurance solutions tailored to meet diverse financial needs. With a wide range of plans, including term insurance, investment-linked policies, and retirement options, Kotak ensures that individuals and families are well-protected and financially secure. Its commitment to customer-centric services, innovative products, and a strong claims settlement record make it a reliable choice for policyholders. For more info related to Kotak Life insurance, contact PolicyX.com at the toll-free number 1800-4200-269 or email us at helpdesk@policyx.com.

Life Insurance

More Queries?

If you have any more queries regarding Kotak Life Insurance Plans, Renewals, or Claim Procedures, contact our insurance experts at:
1800-4200-269 now!

Kotak Life Insurance:FAQs

1. Can I avail loan under my Kotak Life Insurance plans?

Yes, you can avail loan under particular Kotak life insurance plans.

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 is free-look period in Kotak term insurance?

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.

5. Can I download the Premium payment receipts 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.

6. How can I check the status of my Kotak Life Insurance plan?

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.

7. What are the different 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.

8. 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.

9. Is it possible to cancel my Kotak Life Insurance before completion of policy tenure?

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

10. Can we use my telephone bill as address proof for Kotak life insurance plans?

Telephone bills can be used as proof of residence, the policyholder can submit the latest telephone bill, but only for the last 6 months.

11. Do I need my medical reports to buy Kotak Mahindra life insurance?

Yes, in some cases if the policyholder has to submit medical reports. Only in special cases such as, if he/she is buying a critical illness plan.

12. What is the minimum and maximum age to purchase Kotak Protect India?

The Minimum age is 18 years and the maximum age is 35 years for Kotak Protect India.

13. What are different Kotak life insurance plans for retirement?

The Retirement Plans are as follows: Kotak Saral Pension Kotak Assured Pension Lifetime Income Plan

14. What is the minimum and maximum Sum assured available in Kotak Protect India?

The Minimum Sum required is rs 1,00,000 and the Maximum is rs 25,00,000. Compare and buy the most suitable Life Insurance Plan from the below-mentioned IRDAI-approved Life Insurance companies.

Life Insurance Companies

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

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Sahil Singh Kathait

Written By: Sahil Singh Kathait

A boy-in-squares bagging escapades of switching streets in groove & sensing musical airy-notes from 6 1". Under wayed nyctophile sketching the walls of life from the panorama of anime.

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