Kotak Life Insurance

Established in 2001, Kotak Life Insurance is one of the leading life insurance companies in India. With a wide range of offerings, including protection, retirement, savings, child plans, investments, and annuities, the insurer has earned the trust of millions.

As of June 30, 2023, they have secured the financial future of over 50 million (1) individuals across the nation and aim to help even more customers feel financially secure in times of need.

• Claim Settlement Ratio: For FY 2022-23, Kotak Life Insurance’s claim settlement ratio was 98.29%, which shows the insurer’s trustworthiness in settling claims. (2)
• Wealth Creation: With Kotak’s Guaranteed Wealth Builder Plans, you can create a corpus for your retirement years.
• Partial Withdrawals: Some Kotak life insurance policies allow policyholders to withdraw some amount partially once the lock-in period ends.
• Comprehensive Coverage: Kotak life insurance plans offer comprehensive coverage in case of any unfortunate events.
• Affordable Premium Rates: The premiums for the plans are quite affordable. For instance, you can get one cr cover at just ₹475/- per month.

To buy a Kotak Life Insurance policy, individuals need to meet the following eligibility criteria:

• The applicant's age must be within 18-60 years. However, it may vary depending on the plan.
• The applicant must have a steady source of income, whether from salary or business. Proof of income will also be needed during the application procedure, like three months of salary slips or six months of bank statements.
• Some plans may require you to undergo a medical check-up or provide health information.
• ID proof will be needed for the KYC verification.

Kotak Life Insurance offers a total of 32 different life insurance policies. Among these, the following are some of the most popular and frequently chosen plans.

Below are some of the riders offered by Kotak Life Insurance, which can be added to your base policy to enhance its coverage.

• Kotak Term Benefit Rider: In the unfortunate event of the death of the insured, the sum assured will be paid in a lump sum.
• Kotak Accidental Death Benefit Rider: If the insured dies due to an accident, the Rider Sum Assured will be payable along with the basic death benefit under the base policy.
• Kotak Critical Illness Plus Benefit Rider: Ensure protection against 37 Critical Illnesses and get a lump sum pay-out if diagnosed with any of the illnesses.
• Kotak Life Guardian Benefit: In case of the policyholder’s unfortunate death, this rider keeps the policy active by waiving all future premiums. All the due premiums are paid by Kotak Life Insurance.
• Kotak Accidental Disability Guardian Benefit: If the policyholder becomes totally and permanently disabled as a result of an accident, this rider keeps the policy active by waiving all future premiums.
• Kotak Permanent Disability Benefit Rider: In the event of total and permanent disability of the policyholder due to an Accident, the Rider Sum Assured will be payable as a lump sum.

You can buy a Kotak Life Insurance Plan both online and offline through InsuranceDekho or via the insurer's website.

Buy Kotak Life Insurance Policy Online Through Insurer

You can buy a Kotak life insurance policy directly through the insurance company by following the specific steps mentioned on their website.

Buy Kotak Life Insurance Policy Offline Through Insurer

You can visit the nearest Kotak Life Insurance branch office and seek assistance from a representative regarding the different plans and application procedures.

To buy a Kotak Life Insurance policy, the applicant needs to provide the following documents:

• Identity Proof (Aadhar Card/Passport/Voter ID/Driving License/PAN Card)
• Duly filled and signed proposal form
• Address Proof
• Proof of Income
• Salary slips (last three months)
• Bank statements (last six months)
• Income tax returns (ITR)
• Medical examination reports, as requested by the insurer for specific policies.

In case of the policyholder's unfortunate death, the nominee can follow the steps below to file a claim and inform the insurer about the situation as soon as possible.

Step 1) On the official Kotak Life Insurance website, you’ll find the "How Do I" option. Then, click on the "File a Claim" option.

Step 2) Enter all the required details about the life assured and claimant. Once done, click on the continue option.

Step 3) Then, you might ask to submit documents, such as a Death certificate, a recent colour photo of the nominee, an Aadhaar/PAN/DL, a cancelled cheque/bank passbook copy, first information report(FIR) and postmortem report for Accidental Claims.

Step 4) Once the insurance company receives all the required documents, the claim process will be started.

Step 5) After document verification, the insurer will proceed with the payout if all terms and conditions of the contract are met.

For claim settlement assistance, you can contact InsuranceDekho customer support by phone (755 1196 989) or email (support@insurancedekho.com).

You can check the Kotak Life Insurance policy status online via InsuranceDekho by following the below steps.

• Head to our official website and locate the “Login” option in the top-right corner.
• To log in, enter your registered mobile number and OTP.
• Once logged in, you will see the dashboard with a list of all your policies. Select the Kotak Life policy to view the current status.

Here’s how you can check Kotak Life Insurance policy status through offline channels:

• You can contact with the insurer via their toll-free no, 1800-209-8800, from Monday to Saturday | 8 am - 10 pm IST. Help the customer service representative with your policy details, and they’ll let you know the policy status. (3)

Customer Care Number: You can call customer support at 1800-209-8800(toll-free) from Monday to Saturday | 8 AM - 10 PM IST. (excluding public holidays)

Fill Query Form: Fill up the query form (4), stating your query type, and the support team will get back to you.

In-Person Visit: You can also locate a Kotak Life branch (5) for in-person assistance.

To get policy details on WhatsApp, send a "Hi" to 93210 03007 from your registered mobile number.

InsuranceDekho Customer Service & Support

To connect with the InsuranceDekho support team, you can

• Call on 755 1196 989
• Email us at support@insurancedekho.com
• Write to us at Girnar Insurance Brokers Private Limited, Plot no.301, Phase-2, Udyog Vihar, Gurugram-122022, Haryana, India.

• Step 1: If you are not satisfied with the resolution provided by the customer support team or don’t receive a satisfactory response within 15 days, contact the grievance officer at kli.grievance@kotak.com or Kotak Mahindra Life Insurance Company Ltd., 9th Floor, Intellion Square (Bldg No. 4), Infinity IT Park, Gen. AK Vaidya Marg, Malad East, Mumbai - 400 097.
• Step 2: If you are not satisfied with the resolution provided in Step 1, write to Senior Grievance Officer Ms Nisha Almeida at kli.grievance@kotak.com, and you’ll receive a response within seven days.
• Step 3: If you are not satisfied with the resolution provided in Step 2, write to Customer Care head, Ms. Kalparupa Datta, at kli.grievance@kotak.com, and you will receive a response within ten days.
• Step 4: If you are not satisfied with the resolution provided in Step 3, write to Chief Grievance Redressal Officer, Mr Muralikrishna Cheruvu, at kli.chiefgro@kotak.com, and you’ll receive a response within ten days.
• Step 5: If you are still not satisfied with the resolution provided, approach the insurer’s regional Insurance Ombudsman. For a detailed list of the Insurance Ombudsman's contact details and areas of jurisdiction, check out the official website. (6)

InsuranceDekho Complaints & Grievance Redressal

If Kotak Life's customer care team is unresponsive, you can contact our grievance redressal team via the channels below.

• Contact Number: 7551196989

• Email: grievance@insurancedekho.com or PO_GIBPL@girnarinsurance.com