Insurance Companies 538 views July 25, 2019

Kotak Life Insurance

Term Insurance

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NameKotak Life Insurance Company Limited
Company TaglineFaidey Ka Insurance
Managing Director & CEOMurlidhar Gangadharan
Founded2001
HeadquartersMumbai
Owner Joint venture between Kotak Mahindra Bank (74%) and Old Mutual Plc (26%)
Serving CountryIndia
ProductsLife Insurance
Total No of Employees33000+

Many people prefer to derive more out of their insurance plans than simply protection. As the effect of inflation can be felt on daily expenses, more people prefer to invest in those insurance plans that also promise good returns in the long run. Kotak Life Insurance ensures that no customer feels left out and that each of their plans caters to some section of the society. Moreover, customers benefit from the extended coverage that is available in lieu of nominal premium rates. The affordability of these plans coupled with their added benefits ensures that policyholders stay and feel protected throughout.

Benefits of Buying a Plan from Kotak Life Insurance Company in 2019

No business can expand without extending the necessary benefits that customers look for. Some of the prominent benefits of Kotak Life Insurance Company include:-

Customer-centric attitude

The customer care centre is unlike any other as the employees constantly focus on adding value to their work to increase customer satisfaction. The sales force of Kotak Life Insurance is constantly increasing to cater to the growing insurance needs of its customers.

Transparent Services

Insurance is a monetary instrument bought with the need to secure the future of dependents and loved ones. This makes it imperative for insurance companies to share details of fund performances and keep their customers informed about the current status of their policy and details of their next due date of premium. Kotak Life Insurance Company enjoys an edge over other insurers in matters of high-end serviceability and communication clarity.

Timely claim settlement

Insurance companies aim for easy and hassle-free claim settlement processes so that their customers may seek a smooth and timely settlement of their claims. With an outstanding claim settlement ratio of 93.72 percent, policyholders holding Kotak Life Insurance policies could not have asked for more.

Plan variety

Variousness of any product implies that customers have more to choose from. Kotak Life Insurance knows what its customers want, realises their different needs and caters to their requirements accordingly. These insurance plans may include traditional endowment products, unit-linked insurance plans and other kinds of life insurance policies.

Tax benefits

Tax benefits are always there. Policyholders can seek tax exemption on the premium amounts under Section 80C while the amount of sum assured is exempt from tax under Section 10(10D) of the Income Tax Act.

Different Types of Insurance Plans Offered By Kotak Life Insurance Company

Kotak Life Insurance realises that introducing variety in its product portfolio will help the company gain a broader customer base. In addition, the diversity of the plans has ensured that customers are able to choose in accordance with their needs and budgetary requirements.

Term Insurance Plans

  • Kotak Saral Suraksha Plan

  • Kotak Preferred Term Plan

  • Kotak Term Plan

  • Kotak e-Term Plan

  • Kotak Preferred e-Term Plan

Unit Linked Insurance Plans

  • Kotak Ace Investment Plan

  • Kotak Platinum Plan

  • Kotak Single Invest Advantage Plan

  • Kotak Invest Maxima

  • Kotak Wealth Insurance Plan

Investment Plan

  • Kotak Sampoorna Bima MicroInsurance Plan

  • Kotak Assured Income Accelerator Plan

  • Kotak Premier Money Back Plan

  • Kotak Gramin Bima Yojana

  • Kotak Saral Suraksha

  • Kotak Classic Endowment Plan

Pension Plans

  • Kotak Premier Pension Plan

  • Kotak Lifetime Income Plan

Money Back Plan

  • Kotak Assured Income Plan

Kotak Whole Life Plan

  • Kotak Premier Life Plan

Kotak Child Plan

  • Kotak Headstart Child Assure Plan

Kotak Life Insurance Company Review

  1. I had approached the customer care center of the company for claim settlement after my husband expired. True to its words, the company settled the claim pursuant to the term insurance policy that my husband had bought. Thanks to the customer care people for ensuring such a smooth and hassle-free process.
  2. My family has bought all its insurance policies from Kotak Life Insurance. The commitment of the customer care team to ensure the best possible treatment is incredible. Moreover, the diversity of the various plan structures ensures that it has everything for every member of my family.
  3. The distribution network of Kotak Life Insurance Company is indeed immense. Did not find it hard to track down one of its branches and seek information on the kinds of plans it sells. Now that I have bought a Kotak Life Insurance Planttailor made to my future needs, I feel more secure than ever before.

Kotak Life Insurance Company Contact Details

How to get in touch with Kotak Life Insurance Company?

Registered Office

Kotak Mahindra Life Insurance Company Ltd. (formerly known as Kotak Mahindra Old Mutual Life Insurance Ltd.),

Regd. Office: 2nd Floor, Plot # C- 12, G- Block, BKC, Bandra (E), Mumbai – 400 051

Tel No: +91 9985254641

Email: clientservicedesk@kotak.com

Kotak Life Insurance Company CIN: U66030MH2000PLC128503

Toll-Free Number To Buy: 1800 209 8800

FAQs About Kotak Life Insurance Company

1)How to determine if you need a life insurance policy?

Answer: This is a question that many people ask. No matter how complicated the question may seem, the answer to it is simple. Compare your assets and liabilities and check if your loved ones are financially dependent on the income that you earn. Also, check the liquidity of the assets that you have and if you have taken any personal loans or business loans. If the liabilities you have sought is more than the value of your assets or if you believe that your nominee(s) may have a hard time repaying your loans, it is time to buy a life insurance policy.

In short, life insurance policies help pay off the expenses or financial liabilities stemming immediately after your death. Also, some life insurance policies come with added benefits like paying off the pre and post-hospital medical expenses at the time of the death of the insured. This means that having a life insurance policy in place ensures that your family members will not have to pay off your medical bills from their hard-earned savings.

2)What is the right time to buy life insurance?

Answer: The earlier you buy life insurance, the more you gain from the policy. The fragility and uncertainty of life prompted the necessity of including life insurance as an essential financial tool. Many people tend to postpone the idea of life insurance misconceiving that there is always more time to buying one. However, delaying the insurance buying decision only increases the risk of your dependents losing out on the policy benefits.

3)How should policyholders proceed for insurance claim settlement?

Answer: The first step that the nominee(s) must do is to call the customer care number of Kotak Life Insurance Company. The customer care number is 1800-209-8800. Alternately, the policyholders may go to the nearest branch personally with the policy documents and the death certificate of the insured. The nominee must then fill a claim intimation form, either downloaded from the company website or taken from the branch, subsequent to which the company would issue a reference number. The company after checking the validity of the documents submitted and the correctness of the details shared settles the claim within a month of submitting the claim application form.

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