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Kotak Mahindra Life Insurance

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Kotak Mahindra Life Insurance is one of the most trusted insurance companies in India which boasts of a plethora of insurance portfolio ranging from protection plans to retirement plans, annuity plans, group plans, to saving cum protection plans.

Kotak Mahindra Life Insurance Company Limited is one of the nation’s fastest growing insurance providers. The company was formerly known as the Kotak Mahindra Old Mutual Life Insurance Limited. As of March 2018, Kotak Mahindra Life Insurance Company covers over 20 million people across the country.


Benefits of Kotak Mahindra Life Insurance:

Kotak Mahindra Life Insurance Limited is one of the leading insurers in India. It has been touted as one of the quickest growing insurance organisations in the country, with more than 4 million policyholders across India. The company has designed a number of unique products and services to meet the ever-changing financial needs of a diverse customer base. Whether you are looking for protection plans, savings and investment instruments, retirement plans or child plans, Kotak Mahindra’s portfolio is certain to make it relatively easy in finding the best product for you. The company offers solutions for group entities as well as individuals, ensuring that no matter what your investment requirements are, there is something that will help you meet your long-term goals. Kotak Mahindra also holds the distinction of having among the best claim settlement ratios in the industry, thereby giving us a glimpse of its quality business practices.

Different Types of Life Insurance Policies Offered by Kotak Mahindra:

Limited has become of the leading insurers in India for many reasons, one of which is the company’s quality products. Not only does the company offer solutions that help in meeting your long-term objectives, but it also has a vast portfolio that can help customers find the perfect policy whether they seek protection, savings and investment plans, child plans or retirement solutions. Following are the different kinds of life insurance policies offered by Kotak Mahindra Life Insurance Company.

Kotak Mahindra Protection Plans:

The protection plans made available by Kotak Mahindra are designed in a manner such that they not only ensure that your family is financially secure in the event of your untimely demise, but it also helps in ensuring that the emotional well-being of your family is not too adversely affected whilst helping them live debt-free. Following are the protection plans offered by Kotak Mahindra Life Insurance Limited:

  1. Kotak Saral Suraksha: This is a term plan that provides a significant cover at affordable premiums. Premiums can be paid over a period of 5 years either annually or biannually. Policyholders can also make a single lump sum premium payment. An additional benefit of this plan is that it does not require a lot of paperwork.
  2. Kotak e-Term Plan: The e-Term plan is a pure risk cover term plan that provides the insured with high protection at a nominal cost. The insured can choose from a number of plan options and multiple payout options. Policyholders can either increase or decrease their cover based on their requirement.
  3. Kotak Term Plan: The Kotak Mahindra Term Plan offers the insured with a high level of protection at affordable prices. Policyholders also have the flexibility of making premium payments on a yearly, half-yearly, quarterly, or monthly basis. An added advantage of this plan is that the policyholder can convert their term plan to other types of life plans offered by Kotak Mahindra.
  4. Kotak Income Protection Plan: The Income Protection Plan provides the insured a monthly income that continues to increase at compounding 6% p.a. The monthly payouts can be availed after 5 years of the policy’s term. Dependents of the insured receive the lump sum amount of the sum assured if the insured passes away during the term of the policy.
Plan Sum assured Policy Term
Kotak Saral Suraksha Rs.5,000/Rs.10,000/Rs.15,000/Rs.25,000/Rs.50,000/Rs.75,000/Rs.1 lakh 5 years and 10 years
Kotak e-Term Plan Rs.25 lakh 5 years to 40 years
Kotak Term Plan Rs.3 lakh 5 years to 30 years
Kotak Income Protection Plan Rs.20,000 (monthly income level)
  • 10 years to 30 years for Regular Pay policies
  • 17 years to 30 years for 12 Pay policies
  • 20 years to 30 years for 15 Pay policies

Kotak Mahindra Savings and Investment Plans:

The Kotak Mahindra savings and investment plans offered by Kotak Mahindra offer a number of avenues through which customers can save and earn money. The systematic manner in which your funds are invested in these plans ensure that policyholder and his / her family have enough money to meet their financial targets. Following are the savings and investment plans you can avail from Kotak Mahindra Life Insurance Limited:

  1. Kotak Gramin Bima Yojana: This plan requires the insured to make a single premium payment of a nominal amount. The Gramin Bima Yojana plan has been designed to meet the needs of the rural sector. Policyholders get a guaranteed payout on maturity of the policy.
  2. Kotak Sampoorn Bima Micro-Insurance: The Sampoorn Bima Micro-Insurance plan requires the insured to make a single premium payment of Rs.200. The plan ensures a payout on maturity.
  3. Kotak Classic Endowment Plan: This participating endowment plan provides the insured with protection up to the age of 75 years. Policyholders receive a bonus every year from the first year of the policy. The plan allows the insured to make premium payments as per their suitability. Policyholders who opt for a high sum assured receive a discount.
  4. Kotak Premier Endowment Plan: The Premier Endowment plan provides the insured with guaranteed additions at 5% p.a. of the basic sum assured within the first 5 years of the policy’s tenure. Policyholders receive a bonus that accrues from the 6th year of the policy’s term. The plan provides the insured with the flexibility to select their premium payment options.
  5. Kotak Assured Income Plan: This plan provides the insured with assured annual income for 15 years if the insured survives the term of their policy. A percentage of the sum assured is paid in lump sum to the insured on the maturity of the policy. The protection is extended to a fixed term of 30 years.
  6. Kotak Assured Income Accelerator: This plan provides the insured with a guaranteed income that is payable annually. Income boosters are provided to the insured at 5% to 7% on an annual basis. The insured is also given the death benefit regardless of the guaranteed income that is paid during the tenure of the policy.
  7. Kotak Premier Moneyback Plan: Depending on the policy term chosen by the insured, a percentage of the sum assured is paid out as regular cash backs at specified intervals. A lump sum amount is paid out in addition to the maturity benefit at the end of the policy’s term. Bonuses declared are paid out from the end of the first year of the policy’s term. An additional sum is paid out in instances where the insured passes away due to an accident.
  8. Kotak Premier Income Plan: The Premier Income Plan provides the insured with guaranteed annual income immediately after making the premium payment. Female policyholders receive a greater sum assured. Additionally, policyholders have the benefit of accruing bonuses during the tenure of the plan.
  9. Kotak Guaranteed Savings Plan: This non-linked, non-participating life insurance plan The plan comes with a limited premium payment option that provides guaranteed additions accrued over the term of the policy. A lump sum amount is paid as loyalty additions at the end of the plan’s tenure.
  10. Kotak Premier Life Plan: This is a whole life plan that provides the insured with coverage up to the age of 99 years. Policyholders can receive bonuses as a lump sum payout. On choosing a high sum assured, policyholders receive a discount on premium payments.
  11. Kotak Assured Savings Plan: Policyholders receive the sum assured and accrued yearly additions as the maturity benefit. Increase in premium payment term earns the policyholder guaranteed loyalty additions and yearly additions.
  12. Kotak Single Invest Plus: The Single Invest Plus plan requires the policyholder to make a one-time premium payment. It provides a joint cover for both the insured and another family member. Policyholders receive loyalty additions at the end of the 10th and 15th year of the policy’s term. The plan gives policyholders the freedom to invest in a variety of funds.
  13. Kotak Wealth Insurance: This plan provides the policyholder with the chance of accumulating wealth through returns from investments. In the event of the policyholder's death, the dependents receive 100% of the sum assured in addition to a lump sum amount of the fund value. Policyholders can customise their portfolio based on the risks they are willing to take. The terms of the policy permit the insured to make partial withdrawals to meet any unexpected life events.
  14. Kotak Invest Maxima: Policyholders have the freedom of choosing the funds they want to invest in. The plan offers policyholders 2 choices of investment strategies: Self-managed and systematic switching strategy. Policyholders receive rewards for long-term plans. The plan also permits the insured the flexibility of making premium payments.
  15. Kotak Single Invest Advantage: The Single Invest Advantage plan requires the policyholder to make one premium payment throughout the term of the policy. Policyholders can choose from 3 investment strategies.
  16. Kotak Platinum Plan: This policy provides the policyholder with the opportunity to capitalise their investments and build a substantial corpus through the investment strategies available. 95% to 98.5% of the premium paid is invested in the investment instruments chosen by the policyholder. Additionally, policyholders also earn survival units, which is equal to 2% of the average fund value, at the end of the 10th year of the policy’s tenure and every 5 years thereafter.
  17. Kotak Ace Investment: The Kotak Ace Investment plan provides policyholders with the option of choosing from a variety of investment strategies. The cover can be decided as per the requirement of the policyholder. The plan can be enhanced through the riders available. Policyholders have an added advantage of making partial withdrawals to meet unplanned expenditure.
  18. Kotak Smart Life Plan: This plan provides the insured with a life cover upto the age of 75 years. Bonus options can be chosen by the policyholder from the first year of the policy’s term. The protection of the plan can be enhanced through riders.
  19. Kotak POS Bachat Bima: The POS Bachat Bima plan gives the policyholder 2 plan options. The Life Plus option provides a cover for accidental death. Policyholders can be assured of annual additions that accrue throughout the policy’s term.
Plan Sum assured Policy Term
Kotak Gramin Bima Yojana
  • On death: Rs.7,500
  • On maturity: Rs.3,000
15 years
Kotak Sampoorn Bima Micro-Insurance
  • On death: Rs.5,000
  • On maturity: Rs.300
5 years
Kotak Classic Endowment Plan Based on policy term, minimum premium amount and entry age. 15 to 30 years
Kotak Premier Endowment Plan Based on premium amount chosen
  • Regular Pay: 10-30 years
  • Limited Pay:
    • 5 Pay: 10-30 years
    • 7 pay and 10 pay: 15-30 years
    • 15 pay: 20 to 30 years
Kotak Assured Income Plan 10 times the annual premium paid 30 years
Kotak Assured Income Accelerator 10 times the annual premium paid
  • 7 pay: 15 years
  • 10 pay: 20 years
  • 15 pay: 30 years
Kotak Premier Moneyback Plan Rs.1.5 lakh 16 years/20 years/24 years
Kotak Premier Income Plan Based on policy term, minimum premium amount and entry age. 15 years/ 19 years/ 23 years
Kotak Guaranteed Savings Plan Based on policy term, minimum premium amount and entry age. 14 years/15 years/16 years/ 20 years
Kotak Premier Life Plan Rs.2 lakh 99 years less than entr age
Kotak Assured Savings Plan Based on policy term, minimum premium amount and entry age.
  • 5 pay: 10/15 years
  • 6 pay: 12/18 years
  • 7 pay: 14/20 years
  • 10 pay: 15/20 years
Kotak Single Invest Plus
  • On 1st death: 1.25 times single premium
  • On 2nd death: 10 times the single premium
10 years and 15 years
Kotak Wealth Insurance
  • Age below 45 years: Above 10 times annual premium/0.5 times policy term X annual premium
  • Age above 45 years: Above 7 times annual premium/ 0.25 times policy term X annual premium
10/15/20/25/30 years
Kotak Invest Maxima
  • Age below 45 years: Above 10 times annual premium/0.5 times policy term X annual premium
  • Age above 45 years: Above 7 times annual premium/ 0.25 times policy term X annual premium
  • Regular Premium: 10/15/20/25/30 years
  • Limited Premium: 10/15/20/25/30 years
  • Single Premium: 10 years
Kotak Single Invest Advantage 10 times the premium amount 10 years and 15 years
Kotak Platinum Plan Regular Pay:
  • Age below 45 years: Above 10 times annual premium/0.5 times policy term X annual premium
  • Between 46 and 55 years: Above 7 times annual premium/ 0.25 times policy term X annual premium
  • Above 61 years: 7 times the annual premium.
Limited Pay:
  • Age below 45 years: Above 10 times annual premium/0.5 times policy term X annual premium
  • Between 46 and 50 years: Above 7 times annual premium/ 0.25 times policy term X annual premium
10 to 30 years
Kotak Ace Investment Regular Pay:
  • Age below 45 years: Above 10 times annual premium/0.5 times policy term X annual premium
  • Between 46 and 54 years: Above 7 times annual premium/ 0.25 times policy term X annual premium
  • Above 61 years: 7 times the annual premium.
Limited Pay:
  • Age below 45 years: Above 10 times annual premium/0.5 times policy term X annual premium
  • Between 46 and 54 years: Above 7 times annual premium/ 0.25 times policy term X annual premium
10/15/20/25/30 years
Kotak SmartLife Plan Rs.2.5 lakh Upto age 75 years
Kotak POS Bachat Bima Based on policy term, minimum premium amount and entry age. 16 years/ 20 years

Kotak Mahindra Child Plans:

Child plans are a great way to invest in the future of your child and ensure that you have adequate finances to meet expenses related to their higher education, marriage, etc. Kotak Mahindra currently has only one child plan that can be purchased to get a head start on your child’s future. Following is a brief description of the same:

  1. Kotak Headstart Child Assure: A ULIP plan with three benefits - death benefits, maturity benefits, and premium waiver in case of death of parent (insured).
Plan Sum assured Policy Term
Kotak Headstart Child Assure
  • Age below 45 years: Above 10 times annual premium/0.5 times policy term X annual premium
  • Age above 45 years: Above 7 times annual premium/ 0.25 times policy term X annual premium
10 years / 15 years to 25 years

Kotak Mahindra Retirement Plans:

Kotak Mahindra Retirement plans are designed to provide a regular source of income to the policyholder once he / she has retired from work. These plans enable you to save money in a systematic manner so that you have enough funds to follow your dreams or take your family on an exotic vacation. Following are the three retirement plans you can purchase from Kotak Mahindra Life Insurance Limited:

  1. Kotak Lifetime Income Plan: Immediate annuity plan that secures your financial future post-retirement. Flexible frequencies of payouts available.
  2. Kotak e-Lifetime Income Plan: A single premium immediate annuity plan that offers lifetime income through four options available. The plan can be applied for online and the annuity rate remains unchanged throughout the policy term.
  3. Kotak Premier Pension Plus: The Premier Pension Plan from Kotak Mahindra enable you to accumulate money for your retirement, thus ensuring that you continue to live a comfortable life and have no worries about money as you will receive a regular income to carry on with life.
Plan Sum assured Policy Term
Kotak Lifetime Income Plan Minimum Annuity: Rs.12,000 p.a. NA
Kotak Premier Pension Plus Rs.2 lakh 10 years to 30 years for Regular Pay policies 15 years to 30 years for 10 Pay 17 years to 30 years for 12 Pay policies 10 years and 15 years for Single Pay policies

Kotak Mahindra Group Plans:

Kotak Mahindra Group plans are designed to strengthen the relationship between employers and employees. Not only do these plans provide customers with life cover, but also ensure that they have a comfortable life post retirement by means of pension and gratuity plans. Following are the various group plans offered by Kotak Mahindra Life Insurance Company:

Group Gratuity/Leave Encashment Plans

These plans help policyholders invest their funds to better cover any potential liabilities of their employees.

  1. Kotak Gratuity Plus Group Plan: This plan assures returns of all contributions made by the policyholder at the time of exit. The plan provides the policyholder’s employees with a life cover in addition to gratuity benefit. The policy is renewable on a yearly basis.
  2. Kotak Secure Return Employee Benefit Plan: This plan serves a dual purpose of serving the requirements of both gratuity and leave encashment. Policyholders are guaranteed a minimum 2% floor rate p.a. for the entire policy term. Additional life covers can be added to the group plan. The policy can be renewed on an annual basis.
  3. Kotak Gratuity Group Plan: This plan helps employers reduce the business costs and meet the needs of funding gratuity. The unit-linked plan provides long-term investment growth and provides exposure to a number of markets. The policy can be renewed on an annual basis.
  4. Kotak Leave Encashment Group Plan: This plan provides employers with the opportunity to invest in a variety of market-linked funds. The plan helps employers fund leave encashment and reducing financial strain. In addition to leave encashment, the plan also comes with a life cover.
Plan Sum assured Minimum group size
Kotak Gratuity Plus Group Plan Rs.1,000 10 members
Kotak Secure Return Employee Benefit Plan NA 50 members
Kotak Gratuity Group Plan Rs.5,000 10 members
Kotak Leave Encashment Group Plan Rs.5,000 10 members

Group Superannuation Plans

The group superannuation plans offered by Kotak have been created to provide employees with retirement benefits. The following are the plans that Kotak Mahindra offers:

  1. Kotak Secure Return Superannuation Plan: This plan helps with all requirements related to superannuation. The plan assures a 2% minimum floor rate p.a. The employer can also provide their employees with an additional life cover through this plan. The plan can be renewed every year.
  2. Kotak Superannuation Group Plan-II: The scheme provides employers with the opportunity to grant their employees specific benefits on retirement. The plan caters to needs of both the employer and the employees. Contributions made to the plan are invested in Group Secure Capital Fund and provides regular monthly additions.
Plan Minimum Contribution Minimum group size
Kotak Secure Return Superannuation Plan Rs.2,000 NA
Kotak Superannuation Group Plan-II Rs.6,000 10 members

Group Term Plans

The group term plan helps employers provide plans that empowers and protects the loved ones of their employees in the event of their untimely death. The following are the group term plans offered by Kotak Mahindra Life Insurance:

  1. Kotak Group Secure Plan: This is a pure term group plan that builds loyalty from employees by providing financial security to the dependents of the employee. The plan is available in 2 variants, one of which also covers terminal illness. The plan is best suited for individuals employed with any associations.
  2. Kotak Credit Term Group Plan: This plan eases the financial burden that family members are likely to face in the event of the death of the employee who has existing loans. The plan can be renewed on an annual basis.
  3. Kotak Term Group Plan: This plan provides a life cover to employees and a voluntary life cover can also be extended to family members of the employee. The plan can be enhanced through riders. The plans can also be customized by the employer and provides flexibility with regard to premium payment.
  4. Kotak Raksha Group Micro Insurance Plan: This plan provides the employer with the flexibility of choosing cover options based on the requirements of the employee. Employees have the option of choosing either a single cover or a joint cover. Premium payments can be made based on the convenience of the employer.
  5. Kotak Group Secure One Plan: This plan provides the employer with a comprehensive life cover for their employees. This plan is best suited for individuals who work in government offices, NGOs, Co-operative Societies and other similar organizations.
Plan Sum assured Policy Term
Kotak Group Secure Plan Rs.5,000 50 members
Kotak Credit Term Group Plan The outstanding loan amount NA
Kotak Term Group Plan Rs.1,000 50 members
Kotak Raksha Group Micro Insurance Plan Rs.5,000 5 members
Kotak Group Secure One Plan Rs.5,000 50 members

Group Credit Plans

The Group Credit plans offered by Kotak not only provide a life cover but also protects the family members of the employee from any loan liabilities in the event of the employee’s death. The following are the plans that Kotak Mahindra offers:

  1. Kotak Group Assure: This plan protects the family members of the employee from any loan liabilities in the event of the employee’s death. The plan also provides protection against disability, terminal and critical illnesses. The plan has a number of variants that the employer can choose.
  2. Kotak Group Shield: The cover provided for this plan that is the same amount as the initial loan amount taken by the policyholder. The plan provides financial security to the dependents of the employee by taking care of any loan repayments. The plan also provides a cover against terminal illness, critical illness, and disability.
  3. Kotak Complete Cover Group Plan: This plan is best suited for institutions that offer credit. The plan protects the institution from any loan liabilities following the death of the borrower. Additionally, the plan also provides financial security to the borrower’s family members. An advantage to this plan is the single premium payment that can help manage the borrower’s account.
Plan Sum assured Minimum Group Size
Kotak Group Assure
  • Easy Group Assure: Rs.5,000
  • Group Assure: Rs.25,000
  • Disability benefit: Rs.25,000
  • Critical illness benefit: Rs.1 lakh
50 members
Kotak Group Shield
  • Easy Group Shield: Rs.5,000
  • Group Shield: Rs.25,000
  • Disability benefit: Rs.25,000
  • Critical illness benefit: Rs.1 lakh
50 members
Kotak Complete Cover Group Plan Rs.5,000 NA

How to Claim Insurance with Kotak Mahindra Life Insurance Limited:

In case of the death of a life assured, the nominee must intimate the company about the claim by sending a letter to Claims Department, Kotak Mahindra Old Mutual Life Insurance Company Limited, Kotak Infiniti, Building no.21, 7th Floor – Zone 2, Infinity Park, Off Western Express Highway, General AK Vaidya Marg, Malad (E), Mumbai – 400097.

Documents Required to Claim Insurance with Kotak Mahindra:

Compulsory Documents

  1. Duly-filled death claim intimation form
  2. Original policy documents
  3. Original death certificate issued by municipality or equivalent authority
  4. A photograph, photo ID proof and current address proof of the claimant

Supporting Documents

  1. A statement with bank account details / a copy of bank passbook of the claimant
  2. Medical questionnaire
  3. Medical records such as death / discharge summary, treatment records, hospital indoor papers, investigation reports, consultation notes, etc.
  4. Medical certificate stating cause of death
  5. Copy of certified first information report / panchnama / inquest
  6. Copy of certified chemical analysis report / post-mortem report
  7. Copy of driving license in case the insured individual was driving at the time of accident
  8. Settlement option form

All documents that are submitted to the company must be photocopies or originals attested by a gazetted officer, magistrate, SEM or an individual of local standing, like the Talathi, Police Sub-Inspector, Sarpanch or Tahsildar. The company is at discretion to accept / reject the claim based on the documents you have provided and after it has carried out its investigation to verify the authenticity of the claim.

Kotak Mahindra Claim Settlement Ratio:

Total Premium in Crores (2017-18) Total Premium in Crores (2016-17) Total Premium in Crores (2015-16) Total Premium in Crores (2014-15) Total Premium in Crores (2013-14) Claim Settlement Ratio (2017-18) Claim Settlement Ratio (2016-17) Claim Settlement Ratio (2015-16) Claim Settlement Ratio (2014-15) Claim Settlement Ratio (2013-14)
6,958.67 5139.55 3971.68 3038.05 2700.79 93.72% 91.24% 89.09% 90.73% 90.67%

Documents Required to Purchase Kotak Mahindra Life Insurance:

Following are the documents you will require to purchase a life insurance policy from HDFC Life:

  • Identity proof
  • Address proof
  • Income proof
  • PAN Card
  • Self-attested bank passbook copy

How to Check Kotak Mahindra Policy Status Online:

To check the status of your Kotak Mahindra life insurance policy online, all you have to do is visit the official website of the company and locate the Login option at the top of the homepage. Then select Customer Login Option and you will be redirected to the Customer Login Portal where two options will appear – Individual Customer and Group Customer. Select your preferred option.

In case the option you have selected is Individual Customer, you will have to enter your email address and password before hitting Submit. Once this is done, you will have logged in to your account and the policy details will appear on screen.

Kotak Mahindra Life Insurance Online Payment:

Customers can pay their premiums online instead of visiting a branch of the company and doing it personally. All you have to do is visit the company’s official website and under the Customer section, select Pay Premium Online after which you will be redirected to a new page where you will have to register / sign in and then select the payment mode and complete payment.

Kotak Mahindra Life Insurance Premium Calculator:

You can check the amount of premium payment applicable to any life insurance policy purchased from Kotak Mahindra by simply visiting the company’s website and locating the calculator. Details of the policy must be entered so that an accurate calculation is made.

Kotak Life Insurance Customer Care:

Kotak Life Insurance enjoys a strong presence across India and boasts of a well-penetrating network with offices located in over 160 towns and cities across India. In addition to providing quality life insurance solutions to their customers, Kotak Life also puts great emphasis on providing dedicated and efficient customer service to their policyholders via multiple mediums. To make it easier for the customers to reach the customer support team, the insurer has set up a dedicated helpline and email ID on which customers can call or email to get a quick response. They can also request for a call back by providing their details on the Kotak Life website or locate a Kotak Life branch. In addition to this, customers can also perform certain policy related requests for themselves such as paying policy premiums, file a claim, manage their policy, download application forms, get information about various plans, check their policy document, browse fund options, apply for a life insurance plan, and more.

Kotak Mahindra Life Insurance Frequently Asked Questions:

  1. What are the different life insurance policies offered by Kotak Mahindra Life Insurance?

    A. Kotak Mahindra offers insurance plans for Protection, savings and investment, child and for retirement. To know more visit the company website.

  2. What are the different premium paying options available?

    A. Premiums can be paid on a yearly, half yearly, quarterly and monthly basis. Some plans also have the option for the premiums to be paid for a limited period of time and not for the full policy term.

  3. Can I buy insurance for my children as well?

    A. Yes, Kotak Headstart Child Assure Plan can be bought for your children. This plan can be used as an investment option to build wealth for your child's education or marriage or business.

  4. Will riders be available?

    A. Various riders available are Critical Illness, Permanent Disability Benefit, etc. There are riders that can waive your future premiums in case of death or disability of the proposer. The riders come at a nominal cost and can be availed depending on the policy taken. They can be taken at the beginning or during the policy term.

  5. What will happen to my policy if I miss a premium payment due date?

    A. You will get a grace period of 30 days after the premium payment due date for paying the outstanding premium. If you don’t make the payment in the grace period, the policy will lapse. You can revive your lapsed policy by paying your outstanding premium and late payment charges within 6 months from the date of lapse. For plan specific conditions, refer the plan document that contains the terms and conditions for more details.

  6. Will I get maturity benefits on my life insurance policy?

    A. Yes, you will receive maturity benefits as defined in your plan.

  7. Should I buy a life insurance at an early age? What are its advantages?

    A. The younger you are, the lower is your insurance premium amount. You would be physically sound and may not be suffering from illnesses when you are younger. This lowers your premium payment on the policy. at an early age to reduce the cost of insurance.

  8. Can I make lump sum payment for my policy?

    A. Yes, Kotak Platinum Plan lets you create wealth and at the same time multiply your capital and retain your money for a time when you need it the most.

  9. Can I restrict my premium payment?

    A. Yes, with the Kotak Classic Endowment Plan, you can choose the Limited Premium Payment (LPP) option. Under this option you can take a policy for 15 to 30 years and opt to pay premiums for either 7 years for 15 years policy term or policy term less 5 years

  10. How can I go about buying Kotak Life insurance policy?

    A. To buy a policy please contact Kotak Mahindra Life Advisors. You can also enquire about Kotak Mahindra Life Insurance policies by calling on 1800 209 8800 or you can email your contact details.

  11. What happens in case I fail to make premium payments on time?

    A. Customers who fail to pay their premiums on time will receive a grace period of 30 days to clear their dues. If they fail to pay the premium within this period as well, the policy will be considered as lapsed. Lapsed policies can be revived once you paid all the outstanding premiums along with the late payment fees. However, the outstanding dues must be cleared within six month from the date on which the policy had lapsed.

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News About Kotak Mahindra Life Insurance

  • Sumitomo Mitsui Sells of Part of Their Stake in Kotak Bank

    According to data displayed by Block Deal, Sumitomo Mitsui, a Japanese Banking Corporation has sold of 1.8% of their stake in Kotak Mahindra bank for the sum of Rs 3,433 crore. Of the 1.8% of shares sold, 1% of the stake were picked up by the Canada Pension Plan Investment Board for Rs 2084 Crores or 18.1 Million shares and the remaining 0.8% of the stake was picked up at Rs 623.95 per share to unknown buyers.

    This sell is the second of its kind with California Public Employees Retirement system selling their stake in Axis Bank on Monday

    30 March 2016

  • Kotak Life Insurance launches their Kotak Premier Life Plan

    Expanding their range of products, Kotak Life Insurance launches the new Kotak Premier Life Plan. This plan has a limited premium payment and is a participating whole life plan which aims to provide long term savings and protection for the policyholder. The plan offer insurance coverage up to the age of 99 years, with the option to choose either a cash payout or paid up additions at the time of entry.

    8 February 2016

  • Kotak life insurance expecting booming business worth Rs.18000 crore in 2016

    Kotak Mahindra Old Mutual Life insurance which is one of the leading life insurance companies in India recently announced that it is expecting business worth Rs.1800 crore this year as compared to last year’s business of Rs.1500 crore. The company’s Chief Distribution officer announced this at the launch of Kotak Premier Life Plan, a life insurance policy. The company’s market share in the insurance segment is currently between 4-5%.

    14 January 2016

  • Kotak Life Insurance launches Kotak Premier Life Plan

    Kotak Life Insurance Company recently launched Kotak Premier Life Plan. It is a limited premium payment plan.

    The plan enables customers to choose between either cash payout or paid up addition option. The cash payout option will pay the bonuses declared by the policy every year after the premium payment is over. This will continue till the end of the policy or death of the policyholder. On the other hand, the paid-up additions would enable policyholders to use their bonuses to buy paid-up additions.

    The plan will help the policyholder save accumulated bonus which can be withdrawn after the expiry of premium paying term. This is a participating whole life product that helps customers enjoy enhanced protection and plan for a better future.

    12 January 2016

  • Kotak Life targets Rs. 900 crore insurance business

    Kotak Mahindra Old Mutual Life Insurance, has planned to reach Rs. 900 crore milestone in the individual new business regular premium. This can result in a 50% growth in business, as compared to the previous year. The life insurance company is a 74:26 joint venture between Ko­tak Mahindra Bank, its affiliates and Old Mutual.

    For year-to-date September 2015, the company has gained individual new business regular premium worth Rs 325 crore. In a statement released, the company’s managing director G Murlidhar said that presently the company has a balanced product mix. The mix comprises 33% participating products, 46% non-participating business, and the remaining 21% unit linked products. The same product mix will be maintained during the rest of the financial year.

    9 December 2015

  • Kotak Mahindra General Insurance Company receives IRDA approval.

    Kotak Mahindra General Insurance Company recently received permission from the Insurance Regulatory and development Authority of India to start its insurance business in India. The insurance company will now operate as how the other insurance companies work in India work. Kotak Mahindra General Insurance Company has already completed the registration formalities required by IRDA.

    Initially, Kotak General Insurance will concentrate on Health Insurance, Home Insurance, Travel Insurance and Motor Insurance. Going forward, the company will expand its operations into Burglary, Marine and Fire. Kotak General Insurance Company has also received permission to underwrite all classes of general insurance business in India.

    23 November 2015

  • Kotak Premier Pension Plan - A life insurance plan with pension benefits

    Kotak Life Insurance has announced the launch of a new insurance plan, the Kotak Premier Pension. Coming with a life cover, this plan is a pension offering one that adds to the financial security of the policyholder post retirement.

    It is a traditional non-linked participating plan that offers guaranteed additions in the first five years. These additions are a percentage of the sum assured and add to the retirement benefits that can be availed. Two optional riders of Kotak Accidental Death Benefit and Kotak Permanent Disability Benefit make the risk cover offered by this policy even more comprehensive.

    16 September 2015

  • Government should issue zero-coupon bonds: Kotak Life Insurance

    Insurance penetration in India, in 2001, stood at 2.71%, by 2010 it had risen to an impressive 5.2% but after that it has fallen to only 3.9% said Sunil Sharma the Chief Actuary of Kotak Life Insurance. He also said that with the government’s announcement of intentions to increase foreign investor’s stake from 26% to 49%, the country was ready to enter a new era where insurance products would be more easily available to customers.

    Keeping this positive step in mind he has set forth the following expectations from the upcoming budget. The current provisions under section 10(10D) state that if the sum assured is less than 10 times the premium paid then the financial benefits from the insurance policy can be taxed however the provision does not take into account the way in which the premium is paid and this needs to be addressed. He also suggested that to encourage long term investments the government should provide exemptions for investments in pension plans. He has also pointed out that the absence of zero coupon bonds in India is affecting insurer’s ability in Asset Liability Management and that the introduction of these bonds would help a lot.

    24 February 2015

  • 'Merger harbinger of Acche Din,'predicts Kotak

    The Rs 15,000-crore merger between Kotak Mahindra Bank and ING Vysya Bank would create a world-class financial institution that is expected to usher in acche din, said Kotak's head Uday Kotak. The all-share deal, for which he expects all necessary regulatory approvals by March 2015, would create India's fourth largest bank. Terming the merger as "a marriage almost made to order for both parties", Kotak said that the balance sheet on combined basis would be rupees two lakh crore and the market cap will be over rupees one lakh crore. The senior banker said that the Indian banking industry needs to consolidate, "To finance India's future financing needs, you need banks of size." Kotak allayed concerns that the merger would result in any job losses and said that the synergies from the transaction would instead provide new growth opportunities for the staff of both banks and also create new jobs over a period of time. Post the merger, Dutch financial services giant ING, currently the main promoter of over 80-year-old ING Vysya Bank, would become a shareholder in the merged entity and would remain invested for at least the forthcoming year.

    17 December 2014

  • Kotak Mahindra Bank Buys Out ING Vysya in an All-Shares Deal

    As far as biggie mergers go, this has to be one of the biggest. Kotak Mahindra Bank has committed to buying out ING Vysya Bank in an all-share purchase, thus creating a colossus entity worth Rs.1,04,734 crore and giving Kotak Bank a trillion rupee valuation within the first 12 years of its incorporation. As per the agreement, ING Vysya shareholders will receive 725 shares of Kotak Mahindra Bank for every 1000 shares they own. This deal will ensure that Kotak will comfortably double its branch networks and also gain existing footholds in locations where the bank had planned to go. While all the formalities are initiated and running smoothly towards the successful completion of this acquisition, the merger is still subject to regulatory approvals from RBI and other regulators.

    25 November 2014

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Kotak Life Insurance Reviews

Page 1 of 14 1 2 3 4 5
  • Kotak Life Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I am using the life insurance policy with the KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE since from last one year, where it has the maturity period of long term added on that there are no benefits will be getting with this policy. The policy has the good service.
    Was this review helpful? 0
    , hyderabad
    Reviewed on May 29, 2019
  • Kotak Life
    Kotak Life Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    Purchased my child policy for my son's future. I pay the premium amount which is nominal on a yearly basis. This is a educational purpose policy. I have selected the tenure period of 15 years. This policy has good features hence i have chosen it.
    Was this review helpful? 0
    , bangalore
    Reviewed on May 28, 2019
  • Kotak Life Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    Purchased my child policy for my son's future. I pay the premium amount which is nominal on a yearly basis. This is a educational purpose policy. I have selected the tenure period of 15 years. This policy has good features hence i have chosen it.
    Was this review helpful? 0
    , bangalore
    Reviewed on May 24, 2019
  • Kotak Life Life Insurance
    "Excellent services"
    0.5 5.0/5 "Blown Away!"
    I have taken a term plan with Kotak Mahindra life insurance. The customer support is good and it was a easy process to buy the policy online. The sum assured and the plan benefits are good. The payment options are also satisfactory as it can be done online.
    Was this review helpful? 0
    , kolkata
    Reviewed on May 02, 2019
  • Kotak Life Life Insurance
    "Communication should be clear"
    0.5 1.0/5 "Really Bad"
    I was paying Rs. 5200 to Kotak General Life Insurance on month basis then I found there is no benefits. Yearly I am paying Rs. 60,000 I already paid it for 2 yeas, after 5 years they give only 20%. I wont recommend this policy, I am not happy with their service. There was no proper communication from their end.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Apr 24, 2019
  • Kotak Life Life Insurance
    "Satisfied"
    0.5 4.0/5 "Great!"
    I also have a money back policy at Kotak Mahindra Life insurance. The tenure is for 15 years. The premium is economical and it is paid on a yearly basis. There is a bonus I receive every few years. The sum assured is also good. The payment options are comfortable.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 15, 2019
  • Kotak Life Life Insurance
    "Good in all"
    0.5 4.0/5 "Great!"
    Kotak Mahindra Life insurance has good features. I have taken a term insurance. The tenure is till the age of 80 years. The sum assured would be for my nominee. The premium is nominal and I pay it on a yearly basis. The plan benefits are good overall.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 15, 2019
  • Kotak Life Life Insurance
    "Good for family protection"
    0.5 5.0/5 "Blown Away!"
    My organization gave me the term plan with the sum assured of Rs. 30 lakhs, I have added two nominees, Kotak Mahindra old mutual life insurance, have multiple nominees option. The premium is reasonable and they do have good claim settle ratio and they are good in the market.
    Was this review helpful? 0
    , noida
    Reviewed on Apr 06, 2019
  • Kotak Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have taken the ACCIDENTAL POLICY with the KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE where they provide the policy coverage of 25K and the premium paying for 5k with this insurance policy. The customer service is good with this insurance policy.
    Was this review helpful? 0
    , kakinada
    Reviewed on Apr 05, 2019
  • Kotak Life Life Insurance
    "GOOD POLICY"
    0.5 4.0/5 "Great!"
    The life insurance policy that i am holding it with the KOTAK MAHINDRA since from last two years. The executives call and gives the intimation regarding the due date date where the premium should be paid. The maturity period is for 15 years with this policy.
    Was this review helpful? 0
    , chennai
    Reviewed on Apr 03, 2019
  • Kotak Life Life Insurance
    "Need to increase the benefit by end of term"
    0.5 3.0/5 "Satisfactory"
    I have taken a term insurance for myself with Kotak Mahindra when they created my salary account. The premium is above average. I need to pay the premium of 13K per annum around 8 years. When I compared to SBI and other insurer, the benefits are less.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Apr 03, 2019
  • Kotak Life Life Insurance
    "Risk protection cover plan"
    0.5 3.0/5 "Satisfactory"
    One year ago, I taken Kotak mahindra bank life policy based on my promotion wise . I paid an amount of Rs 30 k as a insurance premium . It is helpful for my tax exemption under section 80/c . One of my company Auditor referred this life policy and he has taken responsibility for my policy .
    Was this review helpful? 0
    , hyderabad
    Reviewed on Apr 02, 2019
  • Kotak Life Life Insurance
    "Good Life insurance"
    0.5 5.0/5 "Blown Away!"
    I have invested in Kotak old mutual life insurance which provided by my company, the premium get deducted automatically from my salary account. The term was printed in my offer letter, after certain period I get some benefits., they have good tax benefits and life cover.
    Was this review helpful? 0
    , new delhi
    Reviewed on Mar 21, 2019
  • Kotak Life Life Insurance
    "Good service"
    0.5 5.0/5 "Blown Away!"
    I have been holding my Term insurance with Kotak mahindra old mutual life insurance.The agent had clearly explain me about the term and policy, and even they have updated me about the benefits, and i pay premium on yearly basis,The premium use to get auto debited from my account.
    Was this review helpful? 0
    , bangalore
    Reviewed on Mar 11, 2019
  • Kotak Life Life Insurance
    "Reasonable premium with high benefits"
    0.5 5.0/5 "Blown Away!"
    The benefits of Kotak Mahindra term plan is good and also the cost of policy is reasonable . Yearly I pay Rs. 50,000 it has the term of 45 years it has coverage of 1 crore, my nominees get in lump sum basis. The claim settlement ratio is 98% its really good. Upto 75 years of age come under the policy and its a recommendable plan to protect the family.
    Was this review helpful? 0
    , thane
    Reviewed on Mar 08, 2019
  • Kotak Life Life Insurance
    "Good Service"
    0.5 4.0/5 "Great!"
    I have taken Accidental coverage policy . The policy tenure is for 1yr .This policy need to renew it every year,My premium amount is 2000,I have taken this policy through online .The agent clearly explained the process .It is a group accidental insurance policy ,the service is good and payment will be done through Credit Card.The Overall service is good.
    Was this review helpful? 0
    , new delhi
    Reviewed on Feb 25, 2019
  • Kotak Life Life Insurance
    "Need to improve the benefits"
    0.5 2.0/5 "Expected more"
    I withdrawal the money from Kotak Mahindra old mutual life insurance. Because I felt the benefits a re low, I paid the amount of Rs. 2000 per month it had the term of 20 years. I done the withdrawal at the period of 10 years. I got the low amount of Rs. 80,000. Thought there is a tax benefits its not worthy for the investment.
    Was this review helpful? 0
    , pune
    Reviewed on Feb 23, 2019
  • Kotak Life Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have taken the life insurance policy with the KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE from long time, i had been paying the premium on yearly basis,The premium amount has not been high it is nominal. and my premium use to get auto debited from my account.
    Was this review helpful? 0
    , new delhi
    Reviewed on Feb 12, 2019
  • Kotak Life Life Insurance
    "Its Good"
    0.5 3.0/5 "Satisfactory"
    I invested in Kotak Mahindra life insurance its comes under Ulip, I invested the amount of Rs. 1.50 lakh then I got the total benefits of Rs. 1. 78 lakh. Its better than ICICI but at the time of investing Kotak Mahindra were told they would provide 31% of benefits at the year end but there is no such kind of growth.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Feb 12, 2019
  • Kotak Life Life Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have taken the life insurance policy with the KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE where i have been using it since from last three months. The documentation process is simple and easy to apply for the insurance. I have taken the term plan with this.
    Was this review helpful? 0
    , belgaum
    Reviewed on Feb 09, 2019
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