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Does Kotak Life offer a free look period?
Yes, Kotak Mahindra offers a free-look period on all policies.
What are the different ‘Premium Payment Frequency’ offered by Kotak Life?
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.
How to surrender a Kotak Life Insurance policy?
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.
How to check Kotak Life Insurance policy status?
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.
What are the different insurance riders offered by Kotak Mahindra Life Insurance?
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.
What is the claim settlement ratio of Kotak Life Insurance?
Kotak Life Insurance featured a high claim settlement ratio of 96.38% in the FY 2019-20.
What is the helpline number of Kotak Life?
The toll-free helpline number of Kotak Life is 1800 209 8800.
What is the average time period of the claim settlement process?
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.
Who will receive the claim benefit in the absence of the nominee/demise of the policyholder?
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.
How can I track my Kotak Life Insurance claim?
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.
Why should I choose Kotak Life Insurance?
Kotak Life Insurance Company offers various insurance plans such as Protection, Savings and Investment, Retirement and Child Education Insurance plans. These plans are designed to cater to the needs and budget of every individual. Kotak Life Insurance has a claim settlement ratio of 96.38% for the year 2019-20.
What all life insurance plans does Kotak Life Insurance offer?
Kotak Life Insurance Company offers various insurance plans such as Protection, Savings and Investment, Retirement and Child Education Insurance plans.
What is the toll-free customer care number for Kotak Life Insurance?
Kotak Life Insurance toll-free number is 1800-209-8800.
How do I calculate my premium for Kotak Life Insurance plans?
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.
What are the online modes of payment offered by Kotak Life Insurance?
Kotak Life Insurance provides the facility of online payment of premiums through Net Banking, Debit/Credit cards, E-wallets and Bill Desk.
What is a ‘Free-Look Period’?
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.
What are various riders offered by Kotak Life Insurance?
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
What are riders?
Riders are the additional benefits that can be added in your Insurance policy.
What are the different options available to pay the premium for Kotak Life insurance plans?
Insurance companies provide several options for premium payment. You can choose to pay monthly, quarterly, semi-annually, or annual payment options. Some insurance plans are available with a single premium.
What is the difference between term insurance and life insurance?
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.
What is ‘Accidental Death 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.
What are the various Optional Riders offered by Kotak Life Insurance?
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.
What is the claim settlement ratio of Kotak Life Insurance?
Kotak Life Insurance has a claim settlement ratio of 96.38% for the year FY 2019-20.
If I include any additional riders to my Kotak Life insurance plan, will the premium payable go up?
If you include any optional riders to your Kotak life insurance plan, the amount of premium payable will go up as every optional rider included offers benefits at an extra cost.
What all factors are responsible for premium calculation for Kotak Life Insurance plans?
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.
Do Kotak Life insurance plans provide tax benefits?
As per Section 80C of the Income Tax Act, 1996, the customers do get tax benefits.
How would my Premium change if I add Riders to my Kotak Life insurance plan?
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.
Does age affect the premium of the Kotak Life insurance plan?
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.
Latest News on Kotak Life Insurance
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- Since there are so many competitors in the insurance market, choosing amongst the different products can be a difficult task. Here are some of the best term insurance plans that offer good returns at cheap prices.
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Life Insurance News
Investment definition is an asset acquired or invested in to...11 January 2022
Every parent wishes to give the best for their child while a...14 December 2021
The Kotak Premier Money Back Plan is a plan that not only of...28 October 2021
A term plan with a return of premium, or TROP, is a type of ...08 October 2021
Since there are so many competitors in the insurance market,...08 October 2021
Kotak Life Insurance User Reviews
Claim Process at Kotak Life Insurance
Claim IntimationIn the event of the death of the life assured, the insurance company should be intimated as early as possible.
Submission of DocumentsFor easy claim settlement, claim form, original policy document, death certificate and others documents should be submitted on time.
Claim EvaluationAfter successful submission of documents, the insurance company will thoroughly evaluate the claim filed.
Claim SettlementIf claim request is approved, claim is settled within 30 days. In case of additional investigation, claim process may take 120 days.