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14 Sep 2020

Kotak Insurance Review

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Kotak Insurance Company Review: Background and Overview-

Kotak Insurance Company is an Indian Insurance company, operating under Kotak General Insurance and Kotak Mahindra Life Insurance Company Limited, the latter being a 100% subsidiary under Kotak Mahindra Bank Ltd. It has its headquarters in Mumbai, Maharashtra. The company has over 1000 branches across the length and breadth of the country, with over a million lives covered.

Kotak Insurance Company provides a wide array of insurance-related services, ranging from Kotak life insurance, Kotak general insurance, savings and investment plans, retirement plans, etc.
Given below is the elaborate list of various Insurance schemes offered-

Kotak Insurance Company: Policies and schemes-

Before dwelling into the various insurance policies and schemes offered by Kotak Insurance Company, let us start by understanding what insurance is-
Insurance is a formal contract between an Insurance Company (the insurer) and the individual applying for the insurance (the insured). The insured individual pays a monthly premium/ premium on a regular basis to the insurer, who in return promises to cover any potential financial losses, incurring in the future, upon arrival of the same. The sum insured can be covered as a whole (lump sum) or on a reimbursement basis.
In recent times, insurance does not only serve the purpose of coverage of a financial loss but can also be purchased from an investment/savings perspective.

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Kotak Insurance Company: Plans and Policies-

Kotak Insurance Company offers various schemes and policies for Indians such as Kotak life insurance, Kotak general insurance, savings and investment plans, retirement plans, etc.
An elaborate list of Kotak Insurance policies are given below:

Kotak General insurance: Kotak Mahindra Health Insurance schemes-

  • Kotak Secure Shield- This policy provides coverage from Rs. 5 Lakhs all the way up to Rs. 10 lakhs. The policy is meant for applicants between the age bracket of 18 years to 65 years, assured lifetime renewals.

  • Kotak Health Care- This policy provides coverage from Rs. 2 Lakhs all the way up to Rs. 1 crore, The policy is meant for applicants between the age bracket of 5 years to 65 years, tax benefit under Sec 80D of Income Tax Act of 1961.

  • Kotak Accident Care- This policy provides coverage in the case of death of the insured, total disablement, partial disablement, and temporary disablement of the insured individual. The policy is meant for applicants between the age bracket of 5 years to 65 years, assured lifetime renewals.

  • Kotak Health Super Top Up- This policy provides coverage for an entire family, pre-hospitalization and post-hospitalization expenses covered, tax benefits under section 80D of the Income Tax Act of 1961.

  • Kotak Health Premier- This policy provides coverage from a base sum assured of Rs.5 Lakhs, pre-hospitalization and post-hospitalization expenses covered, The policy is meant for applicants between the age bracket of 18 years to 65 years.


Kotak Mahindra life insurance schemes-

  • Kotak Term Plan- This policy provides coverage from Rs. 3 Lakhs all the way up to Rs. 24.9 lakhs, the policy is meant for applicants between the age bracket of 18 years to 65 years, policy term ranging between 5 to 30 years.

  • Kotak e-Term Plan- This policy provides coverage from a base sum assured of Rs. 25 Lakhs, the policy is meant for applicants between the age bracket of 18 years to 65 years, policy term has a minimum of 5 years.

More details on the aforementioned list can be found on the Kotak website, such as more details on plans offered, Kotak Life insurance login procedures, etc.
Purchasing the right term plan/ health insurance plan can often be a meticulous task, requiring a lot of planning before arriving at a consensus. Although Kotak offers a wide range of insurance plans, be it term insurance or health insurance, choosing a suitable policy that best fits the requirements of an individual can be very chaotic and confusing.

On the other hand, North Loop comprehensive health and life insurance plans for Indians as well as NRIs around the world, with a benefit of low premiums yet high coverage, sign up and approval procedure completely online, North Loop is the perfect solution for you. Sign up here!

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This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended be advice. You must obtain professional advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax, investment or other professional advice from North Loop or its affiliates. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. All opinions expressed do not reflect the views of North Loop nor are endorsed by North Loop.