- About Coverfox
Kotak life insurance is an insurance plan that secures your future and makes sure that all your investments keep giving you profitable returns. With high customer empathy and understanding with a lifetime of service, this is the best way to stay protected.
Trusted by 4 million customers across globe
With reasonable prices of premiums and plans, Kotak Life Insurance Company provides a wide range of affordable Life Insurance Policies. It is a one step solution towards a safe future for you and your loved ones.
Empathetic towards Customers: The company has high customer empathy and understanding thereby adding outstanding delivery value to the customers. Kotak Life Insurance Company has a highly committed sales force, with customer satisfaction as the key driving force.
Transparency in Services: With an everyday declaration of fund performances, well regulated asset management, regular performance benchmarking and a monthly newsletter on market updates, the company truly has a transparent service process.
Quick Claim Settlement: The claim assistance process for Kotak life insurance is very easy. It carries an outstanding claim settlement ratio of 93.72% (as stated by IRDA for 2017-18). You can directly file the claim at the portal of this organization.
Variety of plans: Kotak life insurance offers a wide range of plans to choose from. Each Life Insurance plan is designed to cater a certain section of society and provide maximum protection plus benefits.
An additional second income guaranteed every year, for a fixed period of 15 years. The policy helps you enjoy life cover for the entire policy period and thereby protects your family from any kind of financial uncertainty.
A lifelong plan to offer protection till the age of 99 years. After the expiry of premium payment term, the plan provides an option to receive bonus payouts.
The single premium plan caters the rural and social sector customers. This single pay policy not only provides benefits on maturity but also protects your family from all uncertainties.
The low cost term policy offers security to your family in unfortunate and unpredictable case of your absence.
This saving cum protection plan provides lump sum payouts at regular intervals to meet your interim financial requirements and provide the best to your family.
In order to claim your benefits, you need to inform Kotak Life insurance. You can do this in different ways – Visit the Kotak life insurance Branch nearest to you, call the toll-free number – 1800-1800- 209-8800, send an email at email@example.com, , or register online for your claim.
The nominee has to fill a claim information form and get a reference number. You can be rest assured of receiving updates with regards to the progress of your claim. The accident/death claim usually gets cleared within 30 days without investigation cases.
For any further assistance or information on claims do contact at: 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 A K Vaidya Marg, Malad (E), Mumbai 400097.
Kotak Life Insurance Company offers excellent on time claim settlement process with the claim ratio of 92.59% (as stated by IRDA for 2016-17). The prices of their premiums and plans are also really good.
The company claims that one can get 1 Cr Life cover at just ₹ 13.97/day. Wide range of Life insurance policies are specifically designed to cater all the sections of the society and provide maximum protection and benefits.
The staff members are exceptionally cooperative. The company is always there to help customers through the 24 hours helpline and customer care centre to help them get the maximum benefit. The best point is that any customer, who is investing the money, gets not only the sum assured given by the customer but also gets bonus as well as more and more benefits.
What is the process of the company to settle claims?
The nominee needs to inform the company by either calling their toll free number 1800-209-8800 or can also visit the branch personally with the accident/death certificate and the policy document. The nominee has to fill a claim information form and then the company will give him a reference number. The accident/death claim usually gets cleared within 30 days without investigation cases.
What is the cost of Life Insurance?
A Life Insurance policy can be bought by paying the premium to the life insurance company. The amount to be paid depends on the kind of plan you have selected. Different types of policies have different term of policy contract, maturity sum assured, eligibility age etc. The premiums can be paid monthly/half-yearly/annually/ or as one type premium, depending upon the type of policy selected.
What are riders?
The additional benefits of increasing the risk cover that can be attached to basic life insurance policy are called riders. These riders cover you in certain events happening. Example- If a person takes an Accident Death Benefit rider and he dies due to an accident, then the nominee can get up to twice the basic sum assured if the claim gets accepted. Several similar riders are available for events such as permanent disability, Critical illness etc. There are Riders which can waive off the future premium in cases such as permanent disability or death.
What will happen to my policy in case I miss the due date for premium payment?
A grace period of 30 days is provided by Kotak Life Insurance company in case you miss the premium payment due date. If the grace period is also missed, then the policy will lapse. A lapsed policy can be revived by playing the outstanding premium and also the late payment charges. This revival facility is available only for six month from the date of policy lapsing. However, you can still revive policy as per respective plans. But the process shall require submission of proof of good health.
What tax benefits are you eligible for if you make a lump sum injection / Top-Up?
The regular premium paid by the policyholder is eligible for tax deduction under Section 80C (subject to conditions specified) of the Income Tax Act, 1961. Also, benefits paid under the life insurance policy are exempt from tax under Section 10 (10) (D) of the Income Tax Act, 1961, subject to the conditions specified in section 10 (10) (D).