Compare & Buy Car, Bike and Health Insurance Online - InsuranceDekho
Track & Policy DownloadLogin

Kotak Life Insurance T&Cs

Following are the terms and conditions of Kotak Life Insurance plans:

1. Death Benefit: The death benefit payable under the Kotak Life insurance policy would be the balance of premium deducted from the sum assured payable in the year of the death.

2. Grace Period: Kotak Life Insurance plans offer the policyholder a grace period of 30 days from the due date for the payment of premium on the basis of quarterly, half-yearly, and yearly mode. A grace period of 15 days is available for the monthly mode of premium payout.

3. Policy Lapse: If during the policy tenure, premiums are not paid within the grace period, the policy together with the additional benefits (if any) will lapse from the date of the first unpaid premium, and the policy cover will cease.

4. Policy Revival: Kotak Life Term Insurance lapsed policy can be revived within 2 years from the date of first unpaid premium else the contract will be terminated. To revive the existing policy, proof of good health is also required.

5. Surrender of Policy: If you want to surrender your policy because of financial reasons then surrender value for single premium payment option is 75% x Premium Paid x (1 - 1/Policy Term) x (Outstanding Policy Term/Policy Term).

6. Free Look Period: The policyholder has a free look period of 15 days from the date of receipt of the policy (Distance marketing/Online channel have 30 days). The policyholder has the option to return the policy within 15/30 days if he/she is not satisfied with the terms and conditions of the policy.

7. General Exclusions: Following are the exclusion conditions of Kotak Life Term Insurance plans:

  • Death Due To Substance Abuse

The Kotak Life term insurance states that any death due to intoxication is an exclusion. If the policyholder consumes an excessive amount of alcohol or drugs and if this habit results in the policyholder's demise, then Kotak Life Insurance company is not liable to pay the cover.

  • Pre-existing Medical Conditions

Kotak Life insurance has a waiting period clause in case of pre-existing medical conditions. Hence, if the policyholder has a pre-existing disease, he/she has to wait for a certain period fixed by the insurance company before the health condition can be included in the proposal cover. In the case of critical illnesses, the waiting period can be from a few months to a few years.

  • Accidental Death

Accidental death is covered under the Kotak Life term plan, but it does not mean the claim made under such cases will always be accepted. In case of accidental deaths, the insurance companies always scrutinize the circumstances of such an incident. The process of such an investigation might vary from company to company, but the findings have to be acceptable for the claim to be accepted.

  • Conditions Related to Lifestyle

All the Kotak Life term insurance policies exclude death caused by lifestyle choices. For example, the Kotak Life insurance confirms before if the policyholder is a smoker. Smoking is hazardous for health and those who have this habit are more prone to risk. Therefore, they are considered to be high-risk policyholders. Hence, if a policyholder does not announce the smoking habit while buying the term policy, the insurance company might reject the claim in cases where the death is related to smoking or hazardous substance.

  • Death Due To Suicide

Kotak Life term insurance plans always exclude any death related to suicide or self-harm. However, some insurance companies provide to return the premium if the insured commits suicide within a year from buying the term policy. There are some deductions of certain fees from the cover plan. Death due to participation in hazardous or dangerous activities are excluded from the policy.

  • Death from Participating in Criminal Activities

Kotak Life term insurance policy is designed to provide financial help to the policyholder’s loved ones in case of unfortunate events. Therefore, if the policyholder gets involved in any activity that comes with a higher risk of life, insurance companies are entitled to reject the claim. For example-death due to participating in riots, illegal acts, or any other criminal activity, claims won’t be paid in these conditions.

Term Life Insurance Premium Calculator


  • Male
  • Female

Date of Birth


Do you smoke or chew tobacco?

  • Yes
  • No

Choose required coverage to secure your family’s future

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

Life Insurance News

User Reviews

Write your review
What users are saying
  • All
  • Easy purchase

    Due to my busy work schedule, I was not able to find time to give proper visits to insurance agents. Insurancedekho’s online portal made this easy for me. Their premium calculator and policy management tools helped me immensely. I bought Kotak Life Insurance in a quick and convenient way.

    By Neha rai
    On: Jun 21, 2024
  • Best Life Insurance

    My purchase of the Kotak Life Insurance plan was excellent with InsuranceDekho. I liked InsuranceDekho’s policy tracking facility very much. I didn’t have to follow up with the teams to know about the status of my Kotak Life Insurance Policy. Recommend it to everyone!

    By Prateek Pareek
    On: Feb 01, 2024
  • Amazing Insurance Company

    InsuranceDekho is a great platform to purchase a life insurance policy with ease. I bought a Kotak Life Insurance Policy after consulting with the insurance experts of the company. my heartfelt thanks go to the customer support team for suggesting this amazing life insurance policy. This company has become my first choice to buy any insurance policy

    By Vinod Kumar
    On: Dec 06, 2023
  • The easy claim settlement proc...

    I filed a claim on the InsuranceDekho website since I was secured with the Kotak Life Insurance Policy. The process was quick and easy. I got my claim settled in very little time. Thanks to the team for their guidance and assistance.

    By Kevin Dublin
    On: Nov 24, 2023
  • Empowering Financial Security

    InsuranceDekho empowered me to secure my family's financial future through a well-structured Kotak Life Insurance Policy. Their guidance was instrumental in making the right choice.

    By Abhishek Singh
    On: Nov 09, 2023

Best Insurance Advisors in Your City.

Find the right Kotak Life Insurance for you
By clicking, I agree to *terms & conditions and privacy policy.