Kotak Life Insurance FAQs

At Kotak Life, you can choose to pay a premium monthly, quarterly, semi-annually or annually. Kotak Life also offers insurance policies with a one-time premium payment option.

To surrender a Kotak Life Insurance policy the policyholder is required to submit a ‘Surrender Form’ along with valid reasons and other required documents at their nearest Kotak Life Insurance branch.

You can view your policy status by clicking on the ‘How do I?’ section of the home page and by clicking on ‘Manage My Policy’ and logging in by entering the registered mobile number.

Different riders offered by the life insurance company are as follows:

• Kotak term benefit rider
• Individual riders
• Kotak accidental death benefit rider
• Kotak permanent disability benefit rider
• Kotak Critical Illness plus benefit rider
• Kotak permanent disability benefit rider.

The toll-free helpline number of Kotak Life is 1800 209 8800.

Kotak Life strives to provide a claim amount in 7-15 days but in certain cases, it takes 120 days from the date of claim intimation for the claims department to fully assess and settle a claim.

If in any case the policyholder dies and there is no nominee mentioned in the policy or in case of unfortunate demise of the nominee/policyholder the claim benefit will be provided to the legal heir after the submission of legal title proof.

You can track your claim online at the website of Kotak Life Insurance by entering the policy holder’s details like claim type, policy number and date of birth.

Kotak Life Insurance Company offers various insurance plans such as Protection, Savings and Investment, Retirement and Child Education Insurance plans.

Kotak Life Insurance toll-free number is 1800-209-8800.

You can compute your premium for Kotak Life Insurance plans:

Step 1: Open the Kotak Life Insurance website and locate the ‘How to Do I’ section then click on ‘Pay My Premium’
Step 2: On the ‘Pay My Premium’ page click on ‘Calculate My Premium’
Step 3: Enter your details required such as name, date of birth, mobile number, email ID and choose your gender as well choose if you are a tobacco user or not.
Step 4: Click on ‘Get Quote’ and various quotes will appear on the screen.

Kotak Life Insurance provides the facility of online payment of premiums through Net Banking, Debit/Credit cards, E-wallets and Bill Desk.

In case the customer feels that he/she does not agree with the terms and conditions of the policy they can return the policy within 15 days of receiving the documents.

Accidental Death Benefit, Permanent Disability Benefit, Critical Illness Benefit, Term Benefit, Kotak Life Guardian Benefit and Kotak Accidental Disability Guardian Benefit are some of the riders offered by Kotak Life Insurance

Riders are the additional benefits that can be added in your Insurance policy.

Term Insurance provides the sum assured amount to the nominee (mentioned in the policy) at the time of the demise of the policyholder on the other hand Life Insurance provides maturity benefit.

Accidental Death Benefits is an optional additional rider that provides a death benefit only if the policyholder’s death is caused by an accident.

Kotak Life Insurance offers several optional riders namely Accidental Death Benefit, Permanent Disability Benefit, Critical Illness Benefit, Term Benefit, Kotak Life Guardian Benefit, Kotak Accidental Disability Guardian Benefit.

Kotak Life Insurance has a claim settlement ratio of 96.38% for the year FY 2019-20.

The factors that affect the premium calculation for Kotak Life insurance plans include gender, age, medical history, BMI Index, geographical location, and the policyholders lifestyle.

As per Section 80C of the Income Tax Act, 1996, the customers do get tax benefits.

By adding riders to Kotak Life Insurance coverage, the premium will increase because different riders provide different benefits that cost extra for the additional coverage benefit that it provides.

Yes, age is considered an important factor while calculating the premium. Higher the age higher the risk which increases the premium to provide adequate protection.