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Kotak Life Insurance Plans

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

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

Kotak Life Insurance offers several life insurance plans that cater to the varied requirements of different individuals. These include protection plans, savings and investment plans, health plans, and retirement and child education plans. Kotak Life Insurance is one of the fastest-growing private life insurance providers in India. Explore the types of Life Insurance plans offered by the insurer below:

Types of Kotak Insurance Plans are:

  1. Term Insurance Plans
  2. Retirement and Pension Plans
  3. Savings and Investments Plans
  4. Health Plans

Kotak Life Term Insurance Plans

Kotak Life Insurance offers different term insurance plans as discussed below:

1. Kotak Term Plan: Kotak Term Plan offered by Kotak Life Insurance is a pure risk cover plan that provides financial protection. This plan pays a sum assured to the beneficiary at the time of an unfortunate event. It offers coverage at a nominal cost and a flexible premium payment option. Term plan also provides additional protection with optional riders such as Kotak accidental death benefit rider, Kotak permanent disability rider and Kotak critical Illness plus benefit rider.

2. Kotak E-Term Plan: Kotak E-Term Plan is also a pure risk cover term plan that offers a death benefit to the beneficiary if the life insured dies. This plan offers special premium rates to non-smoker and non-tobacco users. It provides multiple plan options such as Life Option, Life Plus Option and Life Secure Option. Kotak E-Term Plan also offers three payout options namely Immediate Payout, Level Recurring Payout and Increasing Recurring Payout.

3. Kotak Saral Jeevan Bima: Kotak Saral Jeevan Bima is a pure risk term plan which provides life cover and also provides a lump sum payout to the family members of the life assured in case of unforeseen demise of the life assured during the policy tenure. This plan offers comprehensive protection at a nominal cost. It offers long term coverage i.e. life cover for up to 70 years of age. This plan offers flexibility to choose the premium payment term.

Kotak Life Retirement and Pension Plans

Kotak Life Insurance offers two Retirement and Pension plans as discussed below:

1. Kotak Lifetime Income Plan: Kotak Lifetime Income plan is a non-linked and non-participating insurance plan. This plan provides financial protection post-retirement. Kotak Lifetime Income plan offers a wide range of income options that best suit different retirement plans.

2. Kotak Premier Pension Plan: Kotak Premier Pension plan is a participating plan. This plan provides guaranteed additions, assured benefits on death/maturity and this plan also provides additional protection through optional riders.

Kotak Life Savings and Investment Plans

Kotak Life Insurance offers several Savings and Investments plans as discussed below:

1. Kotak Invest Maxima: Kotak Invest Maxima is a unit-linked insurance plan and provides zero premium allocation charges, choice of portfolio strategies and choice of the convenient policy term and premium payment term. This plan also provides rewards for staying invested longer.

2. Kotak Single Invest Plus: Kotak Single Invest Plus is a single premium unit-linked insurance plan. This plan provides the convenience of one-time premium payment. Joint life cover, the advantage of loyalty additions.

3. Kotak Sampoorn Bima Micro-Insurance Plan: This plan is also a single premium plan with a fixed policy term of 5 years. This plan provides a guaranteed payout and this plan requires no medical tests.

4. Kotak Single Invest Advantage: Kotak Single Invest Advantage plan is a unit-linked insurance plan that offers the convenience of one-time investment i.e. single premium, loyalty additions, and offers options to choose from three investment strategies.

5. Kotak Platinum Plan: Kotak Platinum Plan is an investment plan that offers three investment strategies that are Self Managed Strategy, Age-Based Strategy and Systematic Switching Strategie. This plan also offers a flexible payment period.

6. Kotak POS Bachat Bima: Kotak POS Bachat Bima plan provides life insurance coverage and guaranteed benefits. This plan also provides limited premium payment terms, guaranteed loyalty addition payable on maturity.

7. Kotak Ace Investment: Kotak Ace Investment plan is a unit-linked insurance plan that offers three different investment strategies and life cover as well.

8. Kotak Assured Income Accelerator: Kotak Assured Income Accelerator is a non-participating and endowment insurance plan. This plan provides risk-free returns and guaranteed income every year.

9. Kotak Premier Endowment Plan: Kotak Premier Endowment plan is also a non-linked participating endowment plan that offers guaranteed additions, and convenience to select from multiple options of the premium payment term.

10. Kotak Assured Savings Plan: Kotak Assured Savings plan offers affordable Life coverage and provides financial protection in case of any unfortunate event. This plan offers guaranteed maturity benefit, increasing life cover, and enhanced protection through options of riders.

11. Kotak Premier Money Back Plan: Kotak Premier Money Back plan offers lump-sum payouts at regular intervals, enhanced death cover with additional payout on accidental death.

12. Kotak Classic Endowment Plan: Kotak Classic Endowment Plan is a long term protection and savings plan as well. This plan offers coverage for a longer time period and a yearly bonus from the first policy year.

13. Kotak Premier Income Plan: Kotak Premier Income plan offers guaranteed annual income, accrued bonus at the end of policy term in form of the lump-sum amount and life cover.

14. Kotak SmartLife Plan: Kotak SmartLife is an endowment plan that provides the convenience of choosing bonus options such as Cash Payouts or Paid-Up Additions. This plan offers protection up to age 75 years and provides additional protection through optional riders.

15. Kotak Premier Life Plan: Kotak Premier Life is a participating whole life plan that provides protection up to the age of 99 years and offers a cash bonus at the end of the premium payment term.

16. Kotak Guaranteed Savings Plan: Kotak Guaranteed Savings plan offers limited premium payment options, Guaranteed additions, Guaranteed loyalty additions and enhanced protection through optional riders.

17. Kotak E-Invest Plan: Kotak E-Invest is a comprehensive plan that can be customised according to your requirements, whether it is protection, investment, financial security for your child, or retirement planning. The plan comes with different options to choose from, namely Maximiser, Rising Star and Retire Rich.

18. Kotak Wealth Optima Plan: Kotak Wealth Optima Plan offers a choice of two investment strategies that suit your risk-return profile. These are self-managed strategy and age-based strategy. The plan enhances fund growth through yearly additions after the lock-in period. The plan comes with an option to be covered for entire life until 99 years of age.

Kotak Life Health Plan

Kotak Life comes with a health plan named Kotak Health Shield Plan, the features of which are mentioned below:

1. Kotak Health Shield Plan: Kotak Health Shield is a critical illness insurance plan that covers life-threatening illnesses such as cancer, stroke, kidney failure, liver damage, heart attack, etc. The plan offers flexibility to avail coverage options namely Cancer Shield, Cardiac Shield, Livo Shield, and Neuro Shield.

Latest News on Kotak Life Insurance

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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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FAQ About Kotak Life Insurance

  • Why should I choose Kotak Life Insurance?

    Kotak Life Insurance Company offers various insurance plans such as Protection, Savings and Investment, Retirement and Child Education Insurance plans. These plans are designed to cater to the needs and budget of every individual. Kotak Life Insurance has a claim settlement ratio of 96.38% for the year 2019-20.

  • What all life insurance plans does Kotak Life Insurance offer?

    Kotak Life Insurance Company offers various insurance plans such as Protection, Savings and Investment, Retirement and Child Education Insurance plans.

  • What is the toll-free customer care number for Kotak Life Insurance?

    Kotak Life Insurance toll-free number is 1800-209-8800.

  • How do I calculate my premium for Kotak Life Insurance plans?

    You can compute your premium for Kotak Life Insurance plans:

    Step 1: Open the Kotak Life Insurance website and locate the ‘How to Do I’ section then click on ‘Pay My Premium’
    Step 2: On the ‘Pay My Premium’ page click on ‘Calculate My Premium’
    Step 3: Enter your details required such as name, date of birth, mobile number, email ID and choose your gender as well choose if you are a tobacco user or not.
    Step 4: Click on ‘Get Quote’ and various quotes will appear on the screen.

  • What are the online modes of payment offered by Kotak Life Insurance?

    Kotak Life Insurance provides the facility of online payment of premiums through Net Banking, Debit/Credit cards, E-wallets and Bill Desk.

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