Previously known as Kotak Mahindra Old Mutual Life Insurance Limited, the company is now called Kotak Mahindra Life Insurance Company Limited. Insuring more than 25 million people all over India Kotak Life Insurance is one the most reputed insurance firms in India.
Life insurance plans are offered for both group entities as well as individuals according to a diverse customer base all over the country. Kotak Mahindra Life Insurance has got the best claim settlement ratios in the insurance industry which ensures the customers about the quality of services it provides them.
Kotak Mahindra Insurance Company – Company Details
Kotak Mahindra General Insurance is a 100% subsidiary of Kotak Bank Ltd. Kotak promises to meet your present and future financial needs no matter what stage of life you are in. They help you manage your financial decisions very easily step by step.
Kotak Insurance provides quality customer support and meets people’s non-life insurance needs as well. They offer an array of policies like Motor, Health, and Commercial policies. It has been spread all over India with 13 branches with more than 500 work professionals as of 2020.
Kotak Health Insurance
If you want Health Insurance cover for your family, you may add up to 4 adults and 4 children all under one policy offered by Kotak Mahindra Insurance. Also, there is an option to buy a family floater cover where you can insure 2 adults and 3 children under a single cover.
Kotak Mahindra Health Insurance comes with a lot of benefits and unique features like :
- Comprehensive cover
- In-patient cover and OPD cover.
- Online renewal in the easiest way
- A claim needs minimal paperwork
- Easy and fast claim registration
- NCB offer, voluntary deductibles
- Individual cover can be extended to the family with a single premium
- Tax benefits
Did you know that Kotak Mahindra Health Insurance comes with more than 5001 network hospitals that provide cashless hospitalisation to its policyholders? The insured can avail of treatment at these Kotak Insurance hospital list without paying the bill as it's directly settled by the insurance company.
Kotak Mahindra Life Insurance
Kotak Mahindra Limited is one of India’s biggest insurance companies. It offers the best and highest quality products to its customers based on the customer’s individual needs. The customers have several types of requirements like the individual, group entities, cover for retirement, cover for kids etc. all of these are available under the one insurance company which makes it stand out from all the other insurance firms in India.
The several types of plans offered by Kotak Mahindra include:
- Protection Plans
- Savings And Investment Plans
- Retirement Plans
- Group Gratuity. Leave Encashment Plans
- Group Superannuation Plans
- Group Term Plans
- Group Credit Plans
Kotak Mahindra Protection plans
The protection covers provided by Kotak Mahindra are formed in a way that ensures your family becomes financially secure in case of the main policy holders’ untimely demise enabling them to live debt-free.
The protection plans are divided into three categories:
- Kotak e-Term Plan
- Kotak Term Plan
- Kotak Income Protection Plan
Kotak Mahindra Savings and Investments Plans
These plans enable the customers to earn and save their money by methodically investing their cash in these plans. The policyholder and his/her family will benefit financially when they choose this, ultimately enabling them to accomplish their financial goals. The program is further divided into several specific plans which might meet the customer’s specific needs.
The Kotak Mahindra Savings and Investments Plans are :
- Kotak Sampoorn Bima Micro-Insurance
- Kotak Classic Endowment Plan
- Kotak Premier Endowment Plan
- Kotak Assured Income Accelerator
- Kotak Premier Money Back Plan
- Kotak Premier Income Plan
- Kotak Premier Life Plan
- Kotak Guaranteed Savings Plan
- Kotak Assured Savings Plan
- Kotak Invest Maxima
- Kotak Single Invest Plus
- Kotak Single Invest Advantage
- Kotak Platinum Plan
- Kotak Ace Investment
- Kotak Smart Life Plan
- Kotak POS Bachat Bima
Kotak Mahindra Retirement Plans include only one plan which is Kotak Lifetime Income Plan. This provides a steady course of income and allows you to save money systematically.
Kotak Mahindra Group Plans
Kotak Mahindra Group Plans are created to build a strong relationship between the employers and employees in an organisation providing them with a life cover.
The plans are in different forms as shown below:
Group Gratuity/Leave Encashment Plan – This helps the insured to invest their funds to cover the liabilities of their employees. This is further subdivided into
- Kotak Gratuity Plus Group Plan
- Kotak Secure Return Employee Benefit Plan
- Kotak Gratuity Group Plan
- Kotak Leave Encashment Group Plan
Kotak Mahindra Group Superannuation Plan
Kotak Mahindra Group Superannuation Plan gives the employees with retirement benefits too.
The Superannuation plans are further divided into:
- Kotak Secure Return Superannuation Plan
- Kotak Superannuation Group Plan-II
Kotak Mahindra Group Term Plan
Kotak Mahindra Group Term Plan helps employers provide coverage for their employees to protect their families during any untimely death of an employee.
They are further divided into five different covers:
- Kotak Group Secure Plan
- Kotak Credit Term Group Plan
- Kotak Term Group Plan
- Kotak Raksha Group Micro Insurance Plan
- Kotak Group Secure One Plan
Kotak Mahindra Group Credit Plans
Kotak Mahindra Group Credit Plans provide a life cover as well as protection of the policyholder or his family from any loan liabilities at the time of any untimely death of the insured.
They are subdivided into three other types:
- Kotak Group Assure
- Kotak Group Shield
- Kotak Complete Cover Group Plan
Kotak Mahindra Life Insurance Renewal/ Online Payment
It’s simple to pay the Kotak Insurance premium with just a few clicks online. All you have to do is-
- Visit their official website and enter all the necessary details asked for which will take you to your policy.
- You may proceed to click the ‘Pay Online’ option. You don’t necessarily have to go to their office and do all the processes manually.
- The payment mode can be chosen according to your convenience.
- You may find out your renewal premium with all the necessary details.
- Once you pay the premium you will receive the renewal premium receipt online which you may choose to save or download and print it out.
Kotak Mahindra Health Insurance Customer Care
As we know Kotak Mahindra is offering a wide range of policy covers for meeting the individual needs of its customers, without a doubt it also has the best customer service which helps the policyholders with any queries or procedures they need to make in their respective policies and they are available 24 hours 7 days a week.
The Kotak Mahindra Health Insurance customer care number and email ID are as follows:
| Customer Care number | 18002664545 |
| Email ID | care@kotak.com |
| Customer care email ID for Senior Citizens | seniorcitizen@kotak.com |
Common FAQs
- What is the claim settlement ratio of Kotak Mahindra Life insurance?
As of 2018, the company has a claim settlement ratio of 94%. - Is it possible to buy insurance cover for my children under Kotak Mahindra Life Insurance?
Yes, there is a unique plan for just kids under Kotak Mahindra its called Kotak Headstart Child Assure Plan. This plan helps build your child’s future and education or marriage or business. - Are there any riders available under Kotak Mahindra Insurance policy?
A wide range of riders are indeed available under the policy such as critical illness cover, permanent disability benefit etc. you may choose to waive your future premiums also choosing a special rider in case the proposer faces an untimely death. Those riders must be taken while purchasing or during the tenure itself. - Do I receive a grace period in my Kotak Insurance policy in case I miss paying the premium on time due to some unavoidable reason?
Yes, a grace period of 30 days will be offered by Kotak Mahindra Insurance to clear all the payment dues in case you miss paying the premium on time. If you fail to pay the premium during these times then the policy will be automatically considered as lapsed. However, the policy can be reinstated under specific terms and conditions once you pay all the outstanding dues for the same policy and some late payment fees also will be charged.