Kotak Life Insurance Online Premium Payment

To make payment via NEFT, you will need to log in to your preferred net banking account and choose the NEFT payment transfer option. After your NEFT transaction is successful, you will receive a UTR (unique transaction reference) from your bank. This reference number must be presented if you are communicating with the bank regarding your NEFT fund transfer. While making payment via NEFT, the following details must be provided.

ECS (Electronic Clearing Service)

1. ECS is an electronic auto-debit service wherein the premium amount is automatically deducted from the policyholder's preferred bank account on the due date.
2. Owing to this automated functioning, you no longer need to keep track of your premium due date or the hassle of issuing or deposition cheques for payment.
3. Auto-debit ensures that premium payments are done in a timely manner and therefore, preventing the policy from lapsing.
4. At present, the ECS facility is offered in 81 locations across India.
5. To avail of this service, you need to submit the ECS Mandate Form and a canceled cheque at any Kotak Life branch office.
6. If you wish to change your premium amount, you need to submit a new ECS Mandate form.
7. If you want to deactivate the ECS facility for your bank account, you need to provide a written notice to the insurer at a minimum of 15 days before the next due ECS deduction.

Standing Instructions

1. Policyholders who have an account with either HDFC Bank or Kotak Mahindra Bank can avail the standing instruction facility for premium payment.
2. Under this facility, standing instructions are provided for auto-debit of the premium amount from the policyholder's chosen bank account on the due payment date.
3. To avail of this service, the policyholder needs to submit the correctly filled Standing Instruction form at any Kotak Life branch.
4. It can also be mailed to Kotak Mahindra Old Mutual Life Insurance Ltd., Kotak Infiniti, Building No. 21, Infinity Park, 5th Floor, Zone 2. Off Western Express Highway, General A K Vaidya Marg, Malad (E), Mumbai - 400 097.
5. Following submission, the bank will verify the information after which the policyholder can begin using the service.

Direct Debit

1. Under the direct debit option, the policy renewal premium amount is directly auto-debited from the policyholder's chosen bank account on the due payment date.
2. This service is available with a number of leading banks like ICICI Bank, Axis Bank, Citi Bank, United Bank of India, Bank of India, Kotak Mahindra Bank, Union Bank of India, IDBI Bank, State Bank of India, Karnataka Bank, Allahabad Bank, Federal Bank, and Bank of Baroda.
3. To avail this service, the policyholder must fill a Direct Debit/ECS form and submit it with a canceled cheque, at any Kotak Life Branches.
4. The form and canceled cheque can also be mailed to Kotak Mahindra Old Mutual Life Insurance Ltd., Kotak Infiniti, Building No. 21, Infinity Park, 5th Floor, Zone 2. Off Western Express Highway, General A K Vaidya Marg, Malad (E), Mumbai - 400 097.

Credit Card

1. Policyholders can pay their policy renewal premiums using their MasterCard or Visa credit card on the Kotak Life website.
2. If the policyholder is making premium payment using their credit card on the website, the credit card, in this case, must bear the policyholder's name or must have been issued to the policyholder.
3. You can also pay your policy renewal premiums by swiping your credit card at Kotak Life branches.
4. In this case, too, the card with which payment is being made must be issued in the name of the policyholder.

Debit card

Premium payment can also be made using a debit card issued by select banks like Citibank, Indian Overseas Bank, State Bank of India, Union Bank of India, and Punjab National Bank.

Internet banking

1. Kotak Life Insurance Policyholders can also make secure and fast premium payments for their policies using the internet banking platform of their bank.
2. This facility is available with the internet baking platform of almost all leading banks like ICICI Bank, Axis Bank, State Bank of India, Citibank, Deutsche Bank, Bank of Baroda, IndusInd Bank, Kotak Mahindra Bank, Allahabad Bank, United Bank of India, Lakshmi Vilas Bank, Tamilnad Mercantile Bank, and several more.

IMPS (Immediate Payment Service)

1. Policyholders can make renewal premium payments using the IMPS method on their mobile phone. To do that, there are a few steps involved.
2. First, they need to enroll themselves for the mobile banking service and register for using IMPS. To do this, ask your bank to provide you with an MPIN and MMID (Mobile Money Identifier).
3. Next, you need to install your bank's mobile banking application to use the IMPS service.
4. After installation, navigate to the IMPS section on the app and enter the necessary details (Merchant Mobile No. - 9769554433; Merchant MMID - 9485784; Amount - *insert premium amount*; Payment Reference - *insert 8-digit policy number*; MPIN - provided by the bank.
5. After you have made the payment, you will receive a message confirming the debit of the premium amount from your account.
6. Currently, the IMPS service is available with a few leading banks like ICICI Bank, Yes Bank, Union Bank of India, Axis Bank, HSBC, Federal Bank, Corporation Bank, Union Bank of India, State Bank of India, Punjab National Bank, Kotak Mahindra Bank, and some others.

Bill Desk

1. Another way to make secure and fast premium payments is via Bill Desk which is an online payment gateway.
2. To make payments using Bill Desk, you will first need to register on the Bill Desk website. Existing bill Desk users need not register.
3. Next, go to the insurance section and list Kotak Mahindra Old Mutual Life Insurance as a biller.
4. After listing your biller, you need to enroll your policy and authorise the payment.

Electronic Bill Payment

1. Premium payments can also be made using the bill payment service provided by the internet banking platform of your bank.
2. To make premium payments using this service, you need to first login to your net banking account and add Kotak Mahindra Old Mutual Life Insurance as a biller
3. Bill payment via net banking is offered by select leading banks like ABN AMRO Bank, IndusInd Bank, Bank of Baroda, Bank of India, Kotak Mahindra Bank, Bank of Maharashtra, Barclays Bank, Punjab National Bank, Central Bank of India, Citibank, Corporation Bank, HDFC Bank. IDBI Bank, UCO Bank, Yes Bank, ICICI Bank, and several more.

Other Options For Bill Payment

Kotak Mahindra Bank ATM Drop Box

1. You can also make premium payment by dropping your payment cheques in any drop box located inside Kotak Mahindra Bank ATMs.
2. When making payment via cheque, draw it in favor of Kotak Mahindra Life Insurance Policy Number *insert policy number*.
3. Don't forget to mention your name and contact details behind the cheque leaf.

Kotak Life Branches

You can make premium payments in cash or by cheque/demand draft at any Kotak Life branch near you.