Kotak Mahindra Life Insurance Company Limited is a joint venture between Kotak Mahindra Bank Limited and Old Mutual Limited, a pan African investment, savings insurance, and banking group operating. It was established in 2001 and it has 232 branch offices in around 129 cities and towns in India. The cost of Kotak Mahindra life insurance varies depending on the type of policy that you choose to buy.
Kotak Mahindra Life insurance company limited is one of the best and fastest-growing insurance companies in India. Kotak Life Insurance company covers over 30 million lives nationwide. Kotak Mahindra Group is a well-known banking and financial services organization in India. It provides an extensive range of financial products to meet both corporate and individual investment needs.
Kotak Life Insurance Company is a private life insurance company and Kotak Mahindra Life insurance company offers various types of plans such as protection plans, saving plans, investment plans, child plans, and retirement plans. These Kotak Life Insurance products are pure risk cover plans, which provide insurance coverage to the family of the insured person. Kotak life insurance provides long-term value to its customers through financial investments of protection and savings.
About Kotak Mahindra Life Insurance
| Claim Settlement Ratio |
96.38% |
| Inception |
2001 |
| Branches |
232 |
| Customers |
30 Million |
| Death Benefit Paid For |
3225 Policies |
| Solvency Ratio |
3.02 |
| Annual Premium Income |
Rs.5105.77 Crores |
Kotak Mahindra Life Insurance Benefits
- High Life coverage at an affordable premium: Kotak Life Insurance provides affordable insurance plans that fulfill the requirements of the insured. Some plans are designed to provide you with as many benefits as possible at a very nominal price. Term life insurance plans from Kotak Mahindra are the cheapest in the market with high life coverage.
- Easy Policy issuance: The policy issuance process in Kotak Life Insurance Company is very smooth and the policy would be issued within the least possible time, within 1 day in some cases.
- Tax Benefits: Kotak term insurance policies provide certain tax benefits under section 80C of the income tax act, 1961. The premiums paid towards the term plan of Kotak Mahindra life insurance premiums are eligible for a tax deduction of up to Rs.1.5 lacs in a given financial year. Additionally, any amount received through the policy maturity, surrender, or on the death of the life assured is tax-exempt under Section 10 (10D) of the Income Tax Act, subject to provisions stated therein.
- Long Term Coverage: You can opt for coverage that continues up to 99 years of age by paying premiums for a limited period of time. Using the Kotak Mahindra life insurance calculator you can buy the better it is.
- Product Variety: Kotak Mahindra life insurance has a comprehensive product portfolio designed to cater to a wide variety of people. The customers have a wide variety of options to select from and thereby choose the best insurance product as per their requirements.
- Award-Winning Services: Kotak Life Insurance has been awarded several times. It was awarded the ‘Best Customer Engagement Campaign Award and ‘Outlook Money Award for Life Insurance Provider’ of the Year 2017. Moreover, it has also been awarded the ‘Best Persistency Award’ at Fintelekt's DMAi Awards 2017.
Kotak Mahindra Life Insurance Plans List
Here is the Kotak Life Insurance Plans List
- Kotak Mahindra Term Insurance Plans
- Kotak Mahindra Life Insurance Child Plans
- Kotak Mahindra Savings and Investment Plans
- Kotak Mahindra Protection Plans
- Kotak Mahindra Retirement Plans
- Kotak Mahindra ULIP Plans
- Kotak Mahindra Health Plans
Kotak Mahindra Term Insurance Plans
Term insurance plans are life insurance plans that are designed to provide maximum life coverage and help you in difficult situations. Term life insurance protects your family’s financial needs & lifestyle in your absence. Term insurance is providing financial security to the family in case the policyholder meets with any unexpected event. The term plans of Kotak Life Insurance Company are the most selling life insurance plans due to the Coronavirus pandemic.
Below are the Kotak term life insurance plans offered by Kotak Mahindra Life Company ltd:-
1. Kotak e-Term Insurance Plan
Kotak e- Term Plan is an online Term Insurance plan that provides financial security to the family of the insured person against any emergency. This plan provides financial protection in form of the death benefit to the beneficiary of the policy in the event of the unexpected death of the insured.
This plan offers a high level of protection at a nominal premium rate and flexible premium payment options. This plan offers 3 pay-out options such as immediate pay-out, level recurring pay-out, and increasing recurring pay-out, and offers financial protection at reasonable premiums and provides life cover at different stages of life of an insured person.
Features & Eligibility:
| Parameter |
Eligibility |
| Entry Age |
Minimum 18 years to Maximum 65 years |
| Maturity Age |
23 years to 75 years |
| Policy Term |
5 years to 40 years |
| Sum Assured |
Minimum Rs. 25 lakh to no limit |
| Premium Payment |
Single payment, Regular payment, limited payment |
| Premium Mode |
Yearly, Half- Yearly, Quarterly, Monthly |
2. Kotak Saral Jeevan Bima Plan
Kotak Saral Jeevan Bima Plan is a Non-Linked Non-Participating Individual Pure Risk Premium Insurance Plan. Kotak Saral Jeevan Bima's plan protects your loved ones in your absence. This plan protects the family of the insured person against any emergency.
This plan provides financial protection in form of the death benefit to the beneficiary of the policy in the event of the unexpected death of the insured. This plan offers long-term coverage till the age of 70 years. This plan offers a high level of protection at a nominal premium rate and flexible premium payment options.
Features & Eligibility:
| Parameter |
Eligibility |
| Entry Age |
Minimum 18 years to Maximum 65 years |
| Maturity Age |
23 years to 70 years |
| Policy Term |
5 years to 40 years |
| Sum Assured |
Minimum Rs. 5 lakh to 25 Lakhs |
| Premium Payment |
Single payment, Regular payment, limited payment |
| Premium Mode |
Single, Yearly, Half- Yearly, Quarterly, Monthly |
3. Kotak Term Life Insurance Plan
Kotak Term Plan is a pure risk cover plan that provides Life insurance coverage to the family of the insured person in case of unexpected event happens to the insured. Moreover, the Kotak term plan is a convertible plan which can be converted to a Kotak Life insurance plan.
This plan offers a high level of protection at a nominal premium rate and flexible premium payment options. This plan provides rider benefits and tax benefits to enhance coverage of the insurance policy. In Kotak life insurance plans, you can get the flexibility to covert Kotak's term plan to another plan.
Features & Eligibility:
| Parameter |
Eligibility |
| Entry Age |
Minimum 18 years to Maximum 65 years |
| Maturity Age |
23 years to 70 years |
| Policy Term |
5 years to 30 years |
| Sum Assured |
Minimum Rs. 3 Lakh to Rs .24,99,999 lakhs |
| Premium Payment |
Single payment, Regular payment, limited payment |
| Premium Mode |
Single, Yearly, Half- Yearly, Quarterly, Monthly |
Kotak Mahindra Life Savings and Investment Plans:
Kotak life insurance savings and investment plan is an insurance policy that plays both roles. Kotak life insurance provides a huge range of investment and savings plans that helps the customer to accumulate wealth in the long term and also provides an opportunity to create financial support for the family of the insured person. The proceeds help finance your future goals like children’s education, marriage, and retirement funds, etc. Here are the savings and investment plans offered by Kotak Life Insurance.
| Name of Plan |
What Is It? |
Age of Entry |
Maturity age |
Premium Payment |
Sum Assured |
| Kotak Invest Maxima Plan |
Kotak Invest Maxima Plan provides the combined benefit of insurance and investment returns. And also provides financial security to the insured person's family in case any unexpected event happens to the insured. The plan offers 5 different fund options to choose from. |
Min 0 years to Max 65 years |
Min 10 years to Max 75 years |
Regular pay, limited pay |
10,15,20,25,30 years |
| Kotak Single Invest Plus Plan |
Kotak Single Invest Plus Plan is a single premium payment unit-linked insurance plan in which the insured person needs to pay the premium as a lump sum this plan comes with a life protection cover and offers different fund options to choose from. |
Min Primary Life-18 years, secondary life-3 years to Max 52,55 years |
Min Primary Life-28 years, secondary life-18 years to Max 65,67 years |
single pay |
10 years to 15 years |
| Kotak Platinum Plan |
Kotak Platinum Plan is a unit-linked insurance plan that comes with three investment strategies and offers flexibility to the insurance holder. |
Min 0 years to Max 65 years |
Min 18 years to Max 75 years |
Regular pay, limited pay |
10 years to 30 years |
| Kotak Ace Investment Plan |
Kotak Ace Investment Plan is a unit-linked insurance policy, which is specifically designed to offer insurance coverage to the family of the insured person along with the benefit of investment return. |
Min 0 years to Max 65 years |
Min 18 years to Max 75 years |
Regular pay, limited pay |
10 years to 30 years |
| Kotak Premier Endowment Plan |
Kotak Premier Endowment Plan is a savings cum insurance plan that provides guaranteed addition in the first 5 policy years And also provides financial security to the insured person's family in case any unexpected event happens to the insured. |
Min 18 years to Max 60 years |
70 years |
Regular pay, limited pay |
10, 15, 20,30 years |
| Kotak Premier Moneyback Plan |
Kotak Premier Moneyback Plan is a limited pay moneyback policy that provides a lump-sum payout to the insured at regular intervals of time. |
Min 2 years to 51,55,57 years |
75 years |
limited pay |
16, 20, 24 years |
| Kotak Premier Life Plan |
Kotak Premier Life Plan is a non-linked participating whole life plan, which offers insurance coverage for the whole life of the insured. |
Min 3 years to 45, 50, 53, 55 years |
99 years |
8,12,15,20 years |
99 years-entry age of plan |
| Kotak Sampoorn Bima Micro-Insurance Plan |
Kotak Sampoorn Bima Micro-Insurance plan provides the combined benefit of savings and protection. And also provides financial security to the insured person's family in case any unexpected event happens to the insured. The plan offers 5 different fund options to choose from. |
Min 18 years to Max 55 years |
60 years |
Single pay |
5 years |
| Kotak Single Invest Advantage Plan |
Kotak Single Invest Advantage Plan is a single premium payment unit-linked insurance plan that provides the dual benefit of investment and insurance to the policyholder and can gain the advantage of wealth creation with the long-term investment returns. |
Min 10,15 years to Max 45,43 years |
Min 18 years to Max 55,58 years |
Single pay |
10 years, 15 years |
| Kotak POS Bachat Bima Plan |
Kotak POS Bachat Bima Plan This is a savings cum protection-oriented plan. The plan offers guaranteed benefits and also secures the financial future of the family of the insured. |
Min 12 Years to Max 45 years |
Min 28 years to Max 65 years |
Limited pay |
16, 20 years |
| Kotak Assured Income Accelerator Plan |
Kotak Assured Income Accelerator Plan offers guaranteed benefits and also secures the financial future of the family of insured along with the benefit of savings in the long-term. |
Min 0 years to Max 55,60 years |
Min 18 years to Max 85 years |
Limited pay |
15,20,30 years |
| Kotak Classic Endowment Plan |
Kotak Classic Endowment Plan is a savings cum protection plan, which provides financial security to the insured person's family in case of any unexpected event that happens to the insured. |
Min 0 years to Max 70,60,58 years |
Min 18 years to Max 75,70,73 years |
Limited pay, Regular pay |
15,30 years |
| Kotak Assured Savings Plan |
Kotak Assured Savings Plan is a savings cum protection plan, which provides financial security to the insured person's family in case of any unexpected event that happens to the insured. |
Min 3 years to 60 years |
Min 18 years to Max 75 years |
Limited pay |
10,12,14,15,18,20 years |
| Kotak Smart Life Plan |
Kotak Smart Life Plan is a participating, non-linked life insurance plan. This is an endowment policy, which helps the policyholder to fulfill their financial objectives of life. |
Min 3 years to Max 50,54,55years |
75 years |
6,8,10,12,15 years |
75 years-entry age of plan |
| Kotak Guaranteed Savings Plan |
Kotak Guaranteed Savings Plan is a savings cum protection plan that offers an opportunity to the policyholder to create wealth in the long term through savings |
Min 3 years to 60 years |
18 years to 75 years |
7,8,10 years |
10,15,16,20 years |
| Kotak e-Invest Plan |
Kotak e-Invest Plan is an individual, Unit Linked Insurance, endowment life insurance plan. Unit Linked Insurance Products do not offer any liquidity during the first five years of the contract |
Min 3 years to 60 years |
18 years to 75 years |
Regular pay, limited pay |
10,12,15,20 years, 99 years-entry age of plan |
| Kotak Wealth Optima Plan |
Kotak Wealth Optima Plan is the investment risk type of plan. The Unit-linked Insurance products do not offer any liquidity during the first five years of the contract |
Min 3 years to whole life |
Regular, limited pay-18 to 75 years whole life- 18 to 99 years |
Regular pay, limited pay
Whole life-limited pay-50 years |
10,15,20 years, 99 years-entry age of plan |
| Kotak Premier Income Plan |
Kotak Premier Income Plan is a savings cum protection plan that offers a guaranteed annual income immediately after the premium payment occupancy to provide additional annual income. |
Min 3 years to 50, 55 years |
18 years to 78 years |
Limited pay |
15,19,23 years |
Kotak Mahindra Life Insurance Retirement Plans:
A Kotak Mahindra Retirement plan is designed to provide financial security to the future of the individual after retirement. The retirement plans offered by Kotak Life Insurance help to accumulate funds in the long-term also provide an opportunity to create financial support for the family of the insured person.
Here are the retirement plans offered by Kotak Life Insurance are:
| Name of Plan |
What Is It? |
Age of Entry |
Maturity age |
Premium Payment |
Sum Assured |
| Kotak Premier Pension Plan |
Kotak Premier Pension Plan is a traditional participating pension plan that helps the insured person accumulate a retirement fund for the future. |
Min 45,55 years to 60 years |
Yearly, half-yearly, quarterly, monthly |
Regular pay, limited pay, single pay |
Min 2 lacs to no limit |
| Kotak Lifetime Income Plan |
Kotak Lifetime Income Plan is a non-participating, non-linked immediate annuity plan that offers a guaranteed income to the policyholder in form of an annuity right after the payment of premium as lump-sum |
Min 45,55 years to 99 years |
Yearly, half-yearly, quarterly, monthly |
single pay |
Min Rs. 1000 to no limit |
| Kotak Assured Pension Plan |
Kotak Assured Pension Plan is a Non-linked, Non-participating, Life Insurance Annuity Plan |
Min 40 years to Max 80 years |
Yearly, half-yearly, quarterly, monthly |
single pay |
Min Rs. 1000 to no limit |
Kotak Mahindra Life Insurance Health Plans
Kotak Health Shield Plan is a critical illness insurance plan and it is a fixed benefit health insurance plan that covers the major stages of illnesses related to cancer, cardiac problems, liver diseases, and neurological disorders. You can also include financial cover for an unfortunate event resulting from an accident in your plan. Therefore, it is important to plan for your health emergencies before it is too late.
Here is the health plan offered by Kotak Life Insurance:
| Name of Plan |
What Is It? |
Age of Entry |
Maturity age |
Premium Payment |
Sum Assured |
| Kotak Health Shield Plan |
Kotak Health Shield Plan is a critical illness insurance plan that covers life-threatening health conditions such as cancer, cardiac problems, liver diseases, neurological disorders, etc. |
Min 18 to 65 years |
Min 23 to 75 years |
Regular pay, Single pay |
Min Rs. 10 lacs to 50 lacs |
How to Buy Kotak Mahindra Life Insurance Online at PolicyBachat?
Following are the steps to buying Kotak Mahindra Life Insurance Policy Online
- Visit the Policybachat Website and select the ‘Life’ tab.
- Enter your Name, Date of Birth, and Mobile Number.
- Click on the ‘View Plans’ button.
- Just Answer 5 Simple Questions.
- Select your ‘Gender’.
- Select ‘YES’ or ‘No’ if you have Smoked or Chewed Tobacco in the last 12 months.
- Select your ‘Annual Income’.
- Select your ‘Education Qualification’.
- Choose your ‘Occupation Type’.
- Enter your ‘Email Address’.
- Then click on ‘Start Saving Money’.
- Premium Quotes of top life insurance plans will be displayed as per data entered by you and which are suits your requirement.
- You can add riders; edit your sum insured, policy premium frequency, etc.
- Purchase best life insurance policy using online payment
Kotak Life Insurance Premium Calculator
The online Kotak life insurance calculator tool is used to calculate the premium of the Kotak Mahindra life insurance policy. PolicyBachat offers an online tool Premium Calculator to calculate the premium of your insurance plan. You can calculate the amount of premium payable by entering a few details such as mobile number, name, date of birth, email address, occupation, type of policy, sum assured, gender, state, etc.
The premium paid by the customer is depending on many factors. The Factors affecting the premium are the age of the policyholder, type of policy, sum assured required, etc. The premium calculator tool will reflect the estimated premium amount that the policyholder will have to pay for the cover he/she requires based on these factors. Once you provide all the relevant details and then click on the submit tab, you will receive details regarding your monthly premium.
Benefits of Using Kotak Life Insurance Premium Calculator
- Swift Premium Calculation
- Correct Premium Calculation
- Helps in Decision Making:
- hassle-free usage
Kotak Mahindra Life Insurance Claim Process
Step 1: Claim Intimation
Firstly, you need to inform Kotak Life insurance. You can do this in different ways:
- Firstly, you need to inform Kotak Life insurance. You can do this in different ways:
- Visit nearest Kotak life insurance Branch
- Call Kotak Mahindra life insurance customer care number
- Send an email at kli.claimsmitra@kotak.com.
- Register Online Directly for your claim
Step 2: Submission of Documents
The nominee has to fill out a claim information form and get a reference number. Submit the required documents for the claim settlement process.
Step 3: claim decision
After the submission, the company will verify the documents and assess the claim. You will be kept in the loop through regular messages and emails. Once the claim decision has been made the amount will be paid as per the terms and conditions of the policy tenure.
Documents Required to Claim Kotak Life Insurance
| Claim Type |
Documents Required |
| Natural Death Claim |
- Original Policy Documents
- Duly Filled Claim Form
- Photo ID Proof
- Death Certificate
- Address Proof
- Bank Account Details
- Medical Reports
|
| Accidental Death Claim |
- Original Policy Documents
- Duly Filled Claim Form
- ID Proof
- Bank Account Details
- Contact Details
- Pan card
- Medical Records
- Medical Attendance Report
- Post Mortem Report/FIR/Punchana
- Copy of Driving License
- Hospital Treatment Statement
|
Kotak Life Insurance FAQs:-
How to do Kotak Mahindra Life Insurance Policy Copy Download?
For downloading Kotak Life insurance policy copy login to the website by entering required details such as Policy Number, Name, Phone number, etc. Go to Policy copy download options as Premium Receipt, Premium Notice, Unit Statement, Premium Paid Certificate, and GST Invoice. Select which policy copy to download and print.
How to Check Kotak Life Insurance Policy Details With Policy Number?
You can check Kotak life insurance details with policy numbers easily in simple steps
- Step1: Visit the official website of Kotak Life Insurance
- Step2: Click on the Login portal by entering the details such as register email id, mobile number, user id, etc.
- Step3: OTP will receive the registered mobile number
- Step4: After successful Kotak life insurance login, enter the policy number. You can check the policy details displayed on the screen.
How to do Kotak Mahindra Life Insurance Policy Document Download?
For downloading the Kotak life insurance policy document login to the website by entering required details such as Policy Number, Name, Phone number, etc. Go to Policy Document download options such as Premium Receipt, Premium Notice, Unit Statement, Premium Paid Certificate, and GST Invoice. Select which policy document to download and print.
How to do Kotak Life Insurance Renewal Online?
- Visit the Kotak life insurance website and click on the option to renew your life insurance policy.
- Enter the required details that include your policy number, mobile number, and email address.
- Renew life insurance policy through multiple options using Net banking, Credit card, Debit card, UPI wallets, and bill pay online. If need help? Kotak life insurance customer care number: 1800 209 8800.
How to Check Kotak Life Insurance Policy Status Online?
Kotak Life Insurance policy status can be checked by contacting the intermediary from whom the policy was taken or alternatively the insurance policy status can be found on the mParivahan app which displays the start date and end date of the insurance policy. If you can remember the intermediary from whom the policy was taken you can talk to them about the status of the policy or in case you have taken the policy from PolicyBachat or you can call Kotak Life Insurance Policy customer care number to enquire on the insurance policy status.
How to Pay Kotak Life Insurance Premium Payment Online?
Kotak Life Insurance online payment can be done from our portal. You can pay Kotak life premium payment online easily. Every insurance company has multiple payment options to pay premiums online using Net Banking, Credit card, Debit card, UPI wallets, and bill pay. It is a secured digital platform to activate auto-debit for renewal premium payment with a quick registration.