Benefits of Kotak Mahindra Health Insurance
Incorporated in the year 2014, Kotak General Insurance is a 100% subsidiary of Kotak Mahindra Bank Ltd. One of the fastest growing general insurance companies in India, Kotak General Insurance is a part of the Kotak Mahindra Group, one of India's leading financial services conglomerates. Aimed towards offering customised products, state of the art technology, and digital infrastructure, Kotak General Insurance provides a series of motor and health insurance solutions that cater to the needs of one and all.
Established to serve the ever-growing Indian market of non-life insurance division, Kotak General Insurance has a national footprint of 13 branches across the country. Moreover, the employee base counts as 354 (as on 31 December 2017). The company offers comprehensive health insurance plans that are dedicatedly designed to serve the diverse needs of individuals as well as families.
Health insurance plans by Kotak General Insurance are renowned for their wide coverage and numerous benefits. Providing the best possible plans, according to the varied health insurance requirements, irrespective of customer segment & geographies is the ultimate objective of the insurer.
Additional Benefit of Free Health Check upUnder its plans, the insurer offers the additional benefit of one free health check-up per year at any of the network hospitals. The insured individual must be above 18 years of age. Note that utilising the free health check-up benefit does not affect the base annual sum insured or cumulative bonus.
Additional Protection over Employer CoverageEmployer sponsored group health insurance plans are quite common in today’s time. Contrary to what most employees think, these plans do not provide the best help whether in terms of coverage or other services in case of emergencies. To ensure proper care at a crucial time, one can opt for a separate health insurance plans by Kotak General Insurance and increase their existing group health cover without paying too much premium.
Cashless BenefitKotak General Insurance offers the benefit of cashless claims to save its policyholders from worrying about huge medical expenses. Policyholders can not only avail reimbursement of medical bills, but also cashless settlement when being treated at a network hospital.
Claim Settement RatioClaim Settlement Ratio or CSR is the ratio of the claims settled by the insurer against the total number of claims presented on it in one financial year. Kotak General Insurance has a 55.74%* CSR. *The claim settlement ratio change from time to time.
Coverage against Medical ExpensesKotak General health insurance plans offer comprehensive coverage to one and all. Be it an individual or an entire family, the insurer offers broad coverage on medical expenses such as inpatient treatment, pre and post hospitalisation, day care treatments, ambulance cover, and various others.
Incurred Claim RatioIncurred Claim Ratio or ICR measures the earned premium, which is spent in paying claims. Kotak General Insurance’s ICR for the financial year 2018-19 was 47%*. This shows that the insurer managed to keep the ratio below 100% and earned a profit which strengthened its financial condition. *The incurred claim ratio change from time to time.
Tax BenefitPremiums paid towards Kotak General health insurance plans qualify for deduction under Section 80D of the Income Tax Act, 1961.
Kotak Mahindra Health Insurance User Reviews
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Kotak Mahindra Health Insurance FAQs
Why should I buy a health insurance policy from Kotak General Insurance?
KotakGeneral Insurance is an ideal choice for both, individuals as well as families that wish to invest in health insurance without breaking their bank. Reasons that make the insurer different than the others include customer-centric operations, customised products & services, digitally enabled processes, efficient claims handling, strong management practices, team of experienced professionals, and others. Talking specifically about policies, the insurer provides comprehensive coverage against the expenses of medical treatment in case of medical emergencies, and that too at a low premium .
How to buy and apply for Kotak Mahindra health insurance policy?
To apply for and purchase a Kotak Mahindra health insurance policy online, you can either visit the official website of Kotak General Insurance or www.insurancedekho.com. If possible, you can also visit the nearest branch of Kotak General Insurance and uncover more about different policies offered and learn about their purchase in a detailed manner.
What are the health insurance policies offered by Kotak General Insurance?
Under its health category, Kotak General Insurance offers plans such as Kotak Secure Shield, Kotak Health Premier, Kotak Health Care, Kotak Accident Care, and Kotak Health Super Top Up.
Does Kotak General Insurance offer critical illness cover?
Yes, Kotak General Insurance provides comprehensive coverage for 18 types of critical illnesses under its Kotak Secure Shield policy.
What is the Claim Settlement Ratio of Kotak General Insurance?
The claim settlement ratio of Kotak General Insurance for the year ended March 31, 2018 is 55.74%.
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