Kotak Term Insurance Benefits
Claim Settlement Ratio | 98.50% |
Customer Care | 8:00 AM to 10:00 PM |
Death Benefit Paid For | 3,225 Policies |
Inception | 2001 |
Presence | 232 Branches |
Total Death Benefit Paid | Rs. 170.14 Crore |
Kotak Life Insurance Company is one of the leading companies in the life insurance sector. It was started with an aim to bring assurance to more and more people’s lives and to add value to their lives through financial measures of savings and protection. The company has managed to touch 30 million customers across the country. Kotak Life Insurance tends to deliver financial products to customers with a professional approach, innovative methods, and financial prudence. When it comes to term insurance, the company holds a lot of traits to be praised for which comprise from offering a range of plans to providing top-notch services.
Why To Buy Kotak Life Term Insurance?
Kotak Life Terms Insurance offers an array of benefits to its policyholders, some of which are mentioned below:
- High Claim Settlement Ratio: Kotak Life Insurance holds a high Claim Settlement Ratio (CSR) of 96.38% in the FY 2019-20. The CSR refers to the number of claims settled by an insurer against the total claims received by it in a financial year. A higher claim settlement ratio denotes that the company settles most of its claims, which is a crucial element for every policyholder.
- Wide Range of Products: Kotak Life Insurance offers a range of term insurance plans which includes Kotak Term Plan, Kotak E-Term Plan and Kotak Saral Jeevan Bima. These terms insurance plans are meant to secure your family at every stage of life. Its product range allows the customers to pick a policy that suits their budget and needs.
- Economical Plans: Kotak Life Insurance provides economical term insurance plans which allow the customers to purchase the plan without any burden and making policyholders avail several benefits at affordable rates. The economical term insurance plans provide you protection against uncertainties of life with saving options.
- Top-Notch Customer Support: Kotak Life Insurance is easily accessible by its customers to solve any of their problems anytime. The customers of Kotak insurance can connect their customer support team through call, email, chatbox, Whatsapp, and webform. Such wide and robust customer support provides peace of mind to the customers of the insurance company.
- Award-Winning Services: Kotak Life Insurance has bagged various awards for its impeccable insurance services some of which are the ‘Best Customer Engagement Campaign Award (Silver Medal)’ at DMAsia in 2017, the ‘Outlook Money Award for Life Insurance Provider’ of the Year 2017, the ‘Best Persistency Award’ at Fintelekt's DMAi Awards in 2017, and many more. These awards signify the quality of work delivered by the company over the years.
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Best Kotak Term Insurance Plans
- LIFE COVERTax Free₹1 Cr
- CLAIMS SETTLED ₹99.7%
- Revised Zero Cost Benefit
- Terminal Illness
- Cover Continuance Benefit
- Insta-Payment on Claim Intimation
- Nominee's Choice payout
- LIFE COVERTax Free₹1 Cr
- CLAIMS SETTLED ₹99.2%
- Waiver of Premium on Disability
- Terminal Illness
- Life Stage Benefit
- Special Exit Benefit
- LIFE COVERTax Free₹1 Cr
- CLAIMS SETTLED ₹99.4%
- Terminal illness
- Special Exit - Option to get your premiums back
- Renewability Option
Why to Buy Term Insurance Policy Online from InsuranceDekho
- Tax benefit upto 1,50,000*
- Claim support everyday 10AM-7PM
- 80 Lacs+ happy customers
Kotak Term Insurance Contact Details
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FAQs
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What is the Claim Settlement Ratio of Kotak Life Insurance?
Kotak Life featured an excellent claim settlement ratio of 96.38% for FY 2019-2020 as per the IRDA annual report.
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What is the difference between term insurance and life insurance?
A term insurance plan provides the sum assured to the nominees/beneficiary in case of an unfortunate event. Life insurance provides benefits at the maturity of the plan.
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Can Non-Resident Indians (NRIs) purchase Kotak Life Term insurance plans?
Yes, NRIs who have legal citizenship of India can purchase Kotak life term insurance plans.
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Does Kotak Life Term insurance plans offer tax benefits?
Kotak Life offers tax benefits under Section 80C and Section 10(10D) of The Income Tax Act, 1961.