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Kotak Life Insurance Claim Settlement

141 reviews Rate This
Kotak Life Insurance
Highlights
Claim Settlement Ratio98.50%
Customer Care8:00 AM to 10:00 PM
Death Benefit Paid For3,225 Policies
Inception2001
Presence232 Branches
Total Death Benefit PaidRs. 170.14 Crore

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1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification

Claim Settlement of Kotak Life Insurance

Kotak Mahindra Life Insurance offers a smooth and quick claim registration and claims settlement process. For the financial year 2020-21, the insurer featured an impressive claim settlement ratio of 98.50% which shows that the insurer is trustworthy when it comes to settling claims. Apart from this, Kotak Life Insurance offers a 24x7 digital service option to provide its customers with all the information about the claim settlement process.

  • How To Make Claim

    Kotak Life Insurance Claim Settlement Process - Online

    Kotak Life Insurance has a 3 step hassle free claim settlement process. The process is as follows:

    Step 1: Claim Intimation

    Fill in the ‘Basic Details’ including the policyholder’s as well as the claimant’s details. The claimant/nominee/policyholder shall then intimate the insurance company about the claim.

    Step 2: Submission of Documents

    Submit the required documents for the claim settlement process.

    Step 3: Claim Pay Out

    Once the claim decision has been made the amount will be paid as per terms and conditions of the policy tenure.

    Kotak Life Insurance Claim Settlement Process - Offline

    One can apply for a claim at the nearest Kotak Life Insurance branch office. You can verify the policy details and provide the required documents. The claimant will be required to submit life assured details and documents necessary to file for a particular type of claim. The documents can be submitted to the claims team at Kotak Life Insurance branch.

  • Documents Required

    Documents Required for Kotak Life Insurance Claims

    Following is the list of documents required for Kotak Life Insurance Claim: 

    Claim Type

    Documents Required

    Death Claim
    • Filled death claim intimation form
    • Original policy documents
    • Original death certificate issued by the government or local municipal authority
    • Claimant’s photo ID proof
    • Claimant's bank account details/copy bank statement/copy of bank passbook
    • Medical certificate that states the cause of death
    • Medical records
    • Copy of post-mortem report

    Unnatural/Accidental Death Claim
    • Filled death claim intimation form
    • Original policy documents
    • Original death certificate issued by the government or local municipal authority
    • Claimant’s photo ID proof
    • Claimant's bank account details/copy bank statement/copy of bank passbook
    • Medical certificate that states the cause of death
    • Medical records
    • Copy of FIR/Punchnama
    • Copy of post-mortem report
    • Copy of driver’s license (in case of car accident)

    Claims Under Without Cover Plans
    • Filled death claim intimation form
    • Original policy documents
    • Original death certificate issued by the government or local municipal authority
    • Claimant’s photo ID proof
    • Claimant's bank account details/copy of bank statement/copy of bank passbook

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141 User reviews
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Claim Process at Kotak Life Insurance

  • 1

    Claim Intimation

    In the event of the death of the life assured, the insurance company should be intimated as early as possible.
  • 2

    Submission of Documents

    For easy claim settlement, claim form, original policy document, death certificate and others documents should be submitted on time.
  • 3

    Claim Evaluation

    After successful submission of documents, the insurance company will thoroughly evaluate the claim filed.
  • 4

    Claim Settlement

    If claim request is approved, claim is settled within 30 days. In case of additional investigation, claim process may take 120 days.

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Kotak Life Insurance Claim Settlement FAQs

  • What is the claim settlement ratio of Kotak Life Insurance?

    Kotak Life Insurance featured a high claim settlement ratio of 96.38% in the FY 2019-20.

  • What is the helpline number of Kotak Life?

    The toll-free helpline number of Kotak Life is 1800 209 8800.

  • What is the average time period of the claim settlement process?

    Kotak Life strives to provide a claim amount in 7-15 days but in certain cases, it takes 120 days from the date of claim intimation for the claims department to fully assess and settle a claim.

  • Who will receive the claim benefit in the absence of the nominee/demise of the policyholder?

    If in any case the policyholder dies and there is no nominee mentioned in the policy or in case of unfortunate demise of the nominee/policyholder the claim benefit will be provided to the legal heir after the submission of legal title proof.

  • How can I track my Kotak Life Insurance claim?

    You can track your claim online at the website of Kotak Life Insurance by entering the policy holder’s details like claim type, policy number and date of birth.

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