Life Insurance 11340 views July 25, 2019

Kotak Life Insurance

About Kotak Life Insurance Company

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.

ParticularsDetails
NameKotak Life Insurance Company Limited
Company TaglineFaidey Ka Insurance
Managing Director & CEOMurlidhar Gangadharan
ChairmanUday Kotak
PresidentGaurang Shah
Founded2001
Headquarters2nd Floor, Plot C- 12, G- Block, BKC, Bandra (E), Mumbai- 400051
Serving CountryIndia
ProductsLife Insurance
Total No of Employees10,000+
Company Websitehttps://insurance.kotak.com/

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Benefits of Kotak Life Insurance

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.

Kotak Life Insurance Plans

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.

Term Insurance Plans

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.

  • Kotak Saral Jeevan Bima
  • Kotak Term Plan
  • Kotak e-Term Plan

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.

  1. Kotak Ace Investment Plan
  2. Kotak Platinum Plan
  3. Kotak Single Invest Advantage Plan
  4. Kotak Invest Maxima Plan
  5. Kotak Wealth Insurance Plan

Investment Plan

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.

  1. Kotak Sampoorna Bima MicroInsurance Plan
  2. Kotak Assured Income Accelerator Plan
  3. Kotak Premier Money Back Plan
  4. Kotak Gramin Bima Yojana
  5. Kotak Saral Suraksha
  6. Kotak Classic Endowment Plan

Pension Plans

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. 

  1. Kotak Premier Pension Plan
  2. Kotak Lifetime Income Plan

Money Back Plan

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.

  1. Kotak Assured Income Plan

Kotak Whole Life Plan

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.

Kotak Child Plan

  1. Kotak Headstart Child Assure Plan

Kotak Life Insurance Premium Payment Online

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.

Pay on the Website of Kotak Life Insurance

Paying the same through the website of Kotak Life Insurance is easy with the following steps –

  • Go to the official website of Kotak Life Insurance and scroll to ‘How Do I’
  • Click on the ‘Pay My Premium’ icon
  • Press ‘Pay Online’ and get redirected to a new page asking you to mention your policy number and date of birth
  • After doing so, click on ‘Continue’
  • The premium amount due and different payment modes – Net banking, Debit/Credit Card, e-wallets- will appear on your screen 
  • Choose the mode you wish to pay the premium with
  • Upon successful payment, you will get an acknowledgment and a fresh policy document on your email stating the renewal of your policy.

Premium Payments via NEFT

You can pay the premium through National Electronic Fund Transfer (NEFT) too. A few steps are required which you can check below.

  • Add 99800KLIFExxxxxxxx as the beneficiary account. X-lettered stuff is your policy number.
  • Choose ‘Current Account’ as ‘Account Type’
  • Have the IFSC Code of KKBK0000631
  • Enter the premium amount and pay the same
  • A unique transaction reference number will be sent for every successful payment via NEFT

Payments Through Billdesk

You can also pay Kotak Life Insurance Premium through Billdesk. Just follow the steps mentioned below to pay the same. 

  • Visit the official website of billdesk
  • Click on ‘Register Now’ 
  • Choose Kotak Mahindra Life Insurance Company Ltd as a biller under the category of ‘Insurance’
  • Enter your policy number 
  • The premium amount will flash on the screen
  • Pay the same by using any of the net banking, debit/credit card, e-wallet, etc.

Note – You won’t need to do registration in case you are already a registered user of Billdesk.

How to Apply for Kotak Life Insurance?

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.

How to File a Kotak Life Insurance Claim?

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. 

  • Visit the official website of Kotak Life Insurance and click on ‘How Do I’
  • Go to ‘File a Claim’
  • Fill the claim form by mentioning Claim Type, name and date of birth of the life assured, his/her date of death or diagnosis of disease
  • Along with that, claimant’s name, his/her mobile number, email ID, date of birth need to be mentioned too
  • Enter the captcha and click on Generate OTP
  • Enter the OTP and click on ‘Save’

Submission of Documents

Submit the required documents such as death certificate issued by a competent authority, medical cause of death and other relevant testimonials to the insurer.

Assessment of Claim 

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

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

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