The InsuranceDekho website is informative. I bought the Kotak Life Term Insurance plan. While purchasing it, I read about a lot of informative things on their website. I read about Human Life Value (HLV) and the importance of the claim settlement ratio. This helped me learn new things.
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Claim Process at Kotak Term Insurance
Claim IntimationIn the case of death of the life assured, a claim intimation to the insurance company must be made as early as possible.
Submission of DocumentsClaim form, death certificate, original policy document, and more documents must be submitted to ensure smooth claim settlement.
Claim EvaluationOnce the documents are submitted, the insurance company will conduct thorough evaluation of the claim filed.
Claim SettlementIf claim request is approved, claim settlement is done within 30 days. If additional investigation is required, it make take 6 months.
FAQ About Kotak Term Insurance
What is the customer helpline number of Kotak Life Insurance?
The toll-free customer helpline number of Kotak Life is - 1800 209 8800.
What is the Claim Settlement Ratio of Kotak Life Insurance?
Kotak Life featured an excellent claim settlement ratio of 96.38% for FY 2019-2020 as per the IRDA annual report.
What is the difference between term insurance and life insurance?
A term insurance plan provides the sum assured to the nominees/beneficiary in case of an unfortunate event. Life insurance provides benefits at the maturity of the plan.
Can Non-Resident Indians (NRIs) purchase Kotak Life Term insurance plans?
Yes, NRIs who have legal citizenship of India can purchase Kotak life term insurance plans.
Does Kotak Life Term insurance plans offer tax benefits?
Kotak Life offers tax benefits under Section 80C and Section 10(10D) of The Income Tax Act, 1961.