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Kotak Life Insurance Online Premium Payment

Kotak Life Insurance is one of the renowned players in the private life insurance industry. To help its customers with easy premium payments, the company provides several online channels through which customers can pay their premiums.
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One of the most well-known names in India’s private life insurance sector is that of Kotak Life Insurance Limited, which is among the veterans in the business. Kotak Life was established in 2001 and has come a long way since its early days when the life insurance business was still in its nascent stages. As of now, the insurer has a widespread customer base of nearly 15 million across India which it serves with the help of 232 branches that are located in 167 towns and cities across India. Under their life insurance business, the company offers a wide variety of plans such as investment plans, retirement plans, term plans, savings plans, children’s plans, rural plans, etc.

Kotak life Online Premium Payment Options

To simplify the premium payment process, Kotak Life offers its customers several online channels via which policy premiums and be paid securely and swiftly. Following are the channels via which premiums can be paid online.

NEFT (National Electronic Funds Transfer)

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.

Beneficiary name Kotak Mahindra Life Insurance Company Limited
Beneficiary account ‘99800KLIFExxxxxxxx’ wherein the ‘xxxx’ denotes your policy number. In case policy number has below 8 digits, add the required number of zeroes ahead of the policy number.
Account type Current account
IFSC KKBK0000958
Name of bank Kotak Mahindra Bank
Branch Mumbai Nariman Point
Amount Rs.*insert premium amount*

ECS (Electronic Clearing Service)

  • 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.
  • 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.
  • Auto-debit ensures that premium payments are done in a timely manner and therefore, preventing the policy from lapsing.
  • At present, the ECS facility is offered in 81 locations across India.
  • To avail of this service, you need to submit the ECS Mandate Form and a canceled cheque at any Kotak Life branch office.
  • If you wish to change your premium amount, you need to submit a new ECS Mandate form.
  • 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

  • Policyholders who have an account with either HDFC Bank or Kotak Mahindra Bank can avail the standing instruction facility for premium payment.
  • 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.
  • To avail of this service, the policyholder needs to submit the correctly filled Standing Instruction form at any Kotak Life branch.
  • 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.
  • Following submission, the bank will verify the information after which the policyholder can begin using the service.

Direct Debit

  • 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.
  • 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.
  • 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.
  • 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

  • Policyholders can pay their policy renewal premiums using their MasterCard or Visa credit card on the Kotak Life website.
  • 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.
  • You can also pay your policy renewal premiums by swiping your credit card at Kotak Life branches.
  • 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

  • Kotak Life Insurance Policyholders can also make secure and fast premium payments for their policies using the internet banking platform of their bank.
  • 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)

  • Policyholders can make renewal premium payments using the IMPS method on their mobile phone. To do that, there are a few steps involved.
  • 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).
  • Next, you need to install your bank’s mobile banking application to use the IMPS service.
  • 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.
  • After you have made the payment, you will receive a message confirming the debit of the premium amount from your account.
  • 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

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

Electronic Bill Payment

  • Premium payments can also be made using the bill payment service provided by the internet banking platform of your bank.
  • 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
  • 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

  • You can also make premium payment by dropping your payment cheques in any drop box located inside Kotak Mahindra Bank ATMs.
  • When making payment via cheque, draw it in favor of Kotak Mahindra Life Insurance Policy Number *insert policy number*.
  • 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.

Kotak Life Insurance Online Premium Payment Reviews

Page 1 of 50 1 2 3 4 5
  • ICICI Prudential Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been using my term insurance with ICICI bank,the agent had clearly explain me about the policy and benefit coverage, and i use to pay premium amount on monthly basis.they have charged me premium nominal,they have charged me up to 712 on monthly.and my premium amount use to get auto debited from my account.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 20, 2019
  • LIC Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been taken my Life insurance with Life insurance corporation of India, the agent had clearly explain me about the policy coverage and benefits,i have been holding two policy one is on monthly basis and one is for yearly basis,there premium amount they have charged me was nominal.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 20, 2019
  • LIC Life Insurance
    "Average Policy"
    0.5 4.0/5 "Great!"
    Purchased my life insurance policy in the year of 2001. Since my brother in law working as a agent, i have selected the Life Insurance Corporation of India for my insurance policy. I paid the premium amount of Rs. 2500 for half yearly. I make the premium through online.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Jan 20, 2019
  • LIC Life Insurance
    "Not recommendable policy"
    0.5 4.0/5 "Great!"
    I have taken the life insurance policy from Life insurance corporation of India. I'm making the premium through online. Most of the policy got matured and I'm not satisfied with the returns. I have purchased policy in 1995. I have selected the quarterly payment mode.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 20, 2019
  • LIC Life Insurance
    "Very Good Service"
    0.5 5.0/5 "Blown Away!"
    I had taken this Jeevan Anand insurance policy almost seven years back and i am paying the premium half yearly. The premium amount was around 8944 which was not too high. The payment method has been simple and has been done easily. It is a good policy and suggestible to others.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 20, 2019
  • LIC Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    My Life insurance with Life insurance corporation of India had got completed, for 15 years, i was been paying this premium amount, the premium amount was on half yearly basis, and now i am waiting for the money to get, there service was good, they have charged me nominal premium amount.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 20, 2019
  • HDFC Life Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have applied my life insurance with HDFC LIFE, there agent was good, they have explained me clearly about the policy benefit, and there coverage, and the premium amount they have charged me was nominal, it was on yearly basis , and i use to pay premium through on line.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 20, 2019
  • Tata AIA Life Insurance
    "Go for term insurance for the family future safety"
    0.5 4.0/5 "Great!"
    I have taken my term insurance policy from TATA AIG. This a a terms with returns policy. TATA AIG is providing a less premium with the sum assured amount of Rs. 1 Crore. I used to make the premium amount of Rs. 18000 per annum. I took the policy 1 month before. I have done the documentation process by online.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 20, 2019
  • LIC Life Insurance
    "Good to have"
    0.5 4.0/5 "Great!"
    My endowment policy was taken from LIC because of the trust and secure. In 2000, i have purchased this policy. I used to make the payment through online. One of my friend has recommended me about this policy. I have visited the branch many times and they are providing average service to the customer.
    Was this review helpful? 0
    , indore
    Reviewed on Jan 20, 2019
  • LIC Life Insurance
    "Good to have"
    0.5 4.0/5 "Great!"
    I have purchased a endowment plan from LIC. Bought my endowment plan in 2003. I have been paying the premium amount of Rs. 4000 per annum. I will get a sum assured amount of Rs. 1 lakhs. Total tenure period of the policy is 15 years. This is a tax benefit policy.
    Was this review helpful? 0
    , indore
    Reviewed on Jan 20, 2019
  • LIC Life Insurance
    "Good to have"
    0.5 3.0/5 "Satisfactory"
    I have invested a money back policy from Life insurance Corporation of India. I took this policy in the year of 2003. Total tenure period of the policy is 20 years. I have been paying the premium amount of Rs. 100000 per annum. Three times i have received a money back in my account. I have not faced any issue in this policy.
    Was this review helpful? 0
    , indore
    Reviewed on Jan 20, 2019
  • ICICI Prudential Life Insurance
    "Best Policy"
    0.5 3.0/5 "Satisfactory"
    My life insurance policy was bought from ICICI Prudential. The plan name is money growth. I have been paying the premium amount of Rs. 250000 per annum. I have selected the annual mode. I used to make the premium through online. I will get a sum assured amount of Rs. 25 lakhs. Total tenure period the policy is 10 years.
    Was this review helpful? 0
    , indore
    Reviewed on Jan 20, 2019
  • LIC Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    My life insurance i have dealing with Life insurance corporation of India,the agent clearly explain about the policy , coverage ,they have send me hard copy, i pay premium on quarterly basis,they have charged me up to 2500-2400 approx, which was nominal, i pay off line via cheque.
    Was this review helpful? 0
    , kolkata
    Reviewed on Jan 20, 2019
  • Tata AIA Life Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I have purchased a term insurance policy from TATA AIA. I opened this policy before 4 months. The claim ratio was 97% hence i have selected them. The premium amount is very less. I've chosen the coverage value of Rs. 50 lakhs. I make the premium by cheque.
    Was this review helpful? 0
    , vapi
    Reviewed on Jan 19, 2019
  • HDFC Life Life Insurance
    "Bad return value in this policy"
    0.5 1.0/5 "Really Bad"
    I hold a investment policy from HDFC LIFE. Friend has told me about this policy. They are not providing a good service to the customer. I took this policy in 2016. I have been paying the premium amount of Rs. 25000 per annum and the sum assured amount is Rs. 2.40 lakhs. This is a tax benefitable policy.
    Was this review helpful? 0
    , vapi
    Reviewed on Jan 19, 2019
  • Kotak Life Life Insurance
    "Good benefits"
    0.5 4.0/5 "Great!"
    I took my life insurance policy from Kotak Mahindra before 6years. It is a long term policy. I pay the premium through online, approx 20K per annum. I am happy with the benefits and their service. I got insurance paper. I need to pay for 15 years.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 19, 2019
  • LIC Life Insurance
    "Satisfactory"
    0.5 5.0/5 "Blown Away!"
    I am having a personal life insurance policy for the myself and my wife. All services are good and am fine mostly doing online payment. The tenure period is 15 years. I got an agent, he helps me out. It has good benefits. The premium was paid yearly through online.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 19, 2019
  • LIC Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been using life insurance with Life insurance corporation of India,the agent had clearly explain the policy and the benefit coverage ,and the premium i pay is according to my convenient,like it is flexible option available,like whenever i want i can pay ,but i pay in monthly basis every time,the premium amount i use to pay up to 2000 in an monthly basis,it is nominal.
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Jan 19, 2019
  • HDFC Life Life Insurance
    "Good for investment"
    0.5 5.0/5 "Blown Away!"
    HDFC Life is best as per my experience, their claim ratio is good. They are providing terminal premium for the critical illness, disability cover. I took the policy cover for Rs. 10 lakhs, I make the premium of Rs. 30,000 on quarterly basis it has term of 10 years. They do have life cover for certain demise.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 19, 2019
  • LIC Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been using life insurance with Life insurance corporation of India, i have been holding three policy , the agent had clearly explain me account the policy benefit,and there coverage,the premium amount i use to pay on yearly basis,which they have charged me was nominal,and i use to get deducted from my account.
    Was this review helpful? 0
    , thane
    Reviewed on Jan 19, 2019
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