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Life Insurance 15112 views July 25, 2019
Table of Contents
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 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.
|Name||Kotak Life Insurance Company Limited|
|Company Tagline||Faidey Ka Insurance|
|Managing Director & CEO||Murlidhar Gangadharan|
|Headquarters||2nd Floor, Plot C- 12, G- Block, BKC, Bandra (E), Mumbai- 400051|
|Total No of Employees||10,000+|
No business can expand without extending the necessary benefits that customers look for. Some of the prominent benefits of Kotak Life Insurance Company include:-
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.
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.
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 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.
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 its insurance plans has ensured that customers are able to choose according to their needs and budgetary requirements.
These plans ensure financial protection for the dependents of the life assured in case he/she dies during the policy term. You need to pay an affordable premium to secure the future of your loved ones in your absence. Flexible premium payment options – monthly, quarterly, half-yearly and yearly – make these plans worth having.
Unit Linked Insurance Plans
These plans offer life insurance cover while also letting you enjoy the benefits of investments by putting your money in different instruments. Investments made under the plan offer you market-based returns. You need to choose from a list of funds to invest your premium in. These are some of the ULIPs Kotak Life Insurance has for you.
Unlike ULIPs, these investment plans ensure guaranteed income for the policyholders by investing your money in fixed-income instruments. Besides, your family will receive a lump sum payment in case you die during the policy term.
Pension plans of Kotak Life Insurance ensure a steady stream of income for policyholders and help them leave a comfortable life after retirement. These plans come with a certain vesting age from where a regular flow of income will begin. As retirement often brings regular income to a halt, having such plans is vital to your cause.
The money back plan, as the name suggests, gives you back the money you pay to the insurer via premiums. This is called a survival benefit that ensures the payment at the end of each of four of five years after surviving for a specified period of the policy.
Kotak Premier Life Plan is a non-linked participating life insurance plan that secures you financially with bonus payment even after the expiry of the premium payment term. You can build a retirement corpus, buy valuable possessions, etc, by choosing this plan.
You need to pay your Kotak Life Insurance Premium on time to ensure continuity of benefits for you. The best part is that you can pay the premium online in a few minutes, much quicker than doing so offline.
Paying the same through the website of Kotak Life Insurance is easy with the following steps –
You can pay the premium through National Electronic Fund Transfer (NEFT) too. A few steps are required which you can check below.
You can also pay Kotak Life Insurance Premium through Billdesk. Just follow the steps mentioned below to pay the same.
Note – You won’t need to do registration in case you are already a registered user of Billdesk.
You can download the proposal form available on the official website of Kotak Life Insurance. Take its printout, fill the details asked in the form and submit it along with the required documents to the branch office of the insurance company. Kotak Life Insurance will check the details before giving its nod to your life insurance application.
And there are some online plans you can buy only through the website of Kotak Life Insurance. These are Kotak e-term Plan, Kotak Health Shield and Kotak Lifetime Income Plan. Upon filling the details regarding any of these three plans online, you will get free quotes. In case the quote seems good to you, apply for it by attaching the required documents online. If all goes fine, you could get an instant approval and a policy document on your email ID. A hardcopy of the same will also come at your doorstep.
Upon the death of the life assured, the nominee needs to file a claim properly to get the amount credited to his/her account. One could file a claim following a few steps shown below.
Submit the required documents such as death certificate issued by a competent authority, medical cause of death and other relevant testimonials to the insurer.
Kotak Life Insurance will assess the claim thoroughly and approve only when it finds the details genuine. It will disburse the claim amount to the bank account of the claimant after a few days from approval.
Kotak Life Insurance Company Contact Details
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
Kotak Life Insurance Company CIN: U66030MH2000PLC128503
Toll-Free Number To Buy: 1800 209 8800
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