Kotak Life Insurance
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  • Flexible payment options
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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.

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. 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.

Benefits of Kotak Life Insurance Plans

Kotak Mahindra Life Insurance Limited is one of the leading insurers in India. It has been touted as one of the quickest growing insurance organizations in the country, with millions of policyholders across India. 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. Kotak Mahindra also holds the distinction of having among the best claim settlement ratios in the industry, thereby giving us a glimpse of its quality business practices.

  1. 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%. Take a look at the below graph to get an insight into the CSR of Kotak Life

    Claim Settlement Ratio of Kotak Life

    Claim Settlement Ratio of Kotak Life from 2016-2020

    **Data from IRDAI Annual Reports

  2. Market Share

    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.

    Market Share of Kotak Life Insurance

    Market Share of Kotak Life Insurance

    **Data from IRDAI Annual Reports

  3. 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.

    Solvency Ratio of Kotak Life

    Solvency Ratio of Kotak Life

    **Data from IRDAI Annual Reports

What Are The Different Types of Kotak Life Insurance Plans?

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 table to explore all the Kotak Life Insurance Plans list offered by the company under different categories:

Product CategoriesNames of Plans
Term Insurance PlansKotak Term Plan
Kotak e-term Plan
Kotak Saral Jeevan Bima
Savings and Investment PlansKotak Sampoorna Bima Micro-Insurance Plan
Kotak Single Invest Plus
Kotak Assured Income Accelerator
Kotak Premier Endowment Plan
Kotak Single Invest Advantage
Kotak Assured Savings Plan
Kotak Guaranteed Savings Plan
Kotak Invest Maxima
Kotak SmartLife Plan
Kotak Premier Money Back Plan
Kotak Classic Endowment Plan
Kotak Premier Income Plan
Kotak Ace Investment
Kotak Platinum Plan
Kotak POS Bachat Bima
Kotak Premier Life Plan
Kotak Wealth Optima Plan
Kotak e-Invest
Retirement PlansKotak Lifetime Income Plan
Kotak Premier Pension Plan
Kotak Assured Pension
Kotak Saral Pension
Health PlansKotak Health Shield
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How To Calculate Kotak Life Insurance Premium?

Kotak Mahindra Life Insurance Company allows its customers to calculate their premiums online with the help of the Kotak Life Insurance Premium Calculator. This calculator helps the potential policyholder to get an idea of how much he needs to pay annually.

Kotak Life Insurance Premium Calculator calculates the annual premium on the below-mentioned factors:

  • Age of Potential buyer
  • Chosen sum Insured
  • Type of plan
  • Policy Tenure

To get access to this calculator, one needs to visit the official website of Kotak Life Insurance Company and fill in the required details to check your premium.

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 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.
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How Can I Contact Kotak Life Insurance?

Customer Support:

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.

WhatsApp: Get details of your policy on our WhatsApp servicing. Say "Hi" to 93210 03007.

You can also get in touch with the company through their Live Chat Option- 'KAYA'.

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.

Find Out What the Customers Are Saying

(Showing latest 5 reviews only)

- 4.8/5 (36 Total Rating)

June 6, 2022

Karan Veer

Mumbai

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.

May 31, 2022

Urvashi R

Delhi

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 future.

November 17, 2021

Ramakant dubey

Hyderabad

Bahut achi company hai, mai bht khush hu iske plan leke. premium bhi kafi kam hai. customer care team bhi kafi achi hai aur bht ache se plan ko samjhati hai.

October 8, 2021

Manish sharma

Delhi

they have amazing plans to choose from...the features are pretty good and the plans are very less expensive

September 28, 2021

Samiksha

Mumbai

policyx.com se help liya tha plan khareedte time...features kaafi sahi mil gaye and im happy to have chosen them for support

Last updated on March, 2022

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