Kotak Life Insurance Claim Settlement

Kotak Life Insurance has a claim settlement ratio of 98.29% in FY 2022-23 (1). A high claim settlement ratio suggests that the insurance company is more likely to pay out claims reliably. This gives customers confidence that they will receive their policy benefits when needed. The ratio also indicates the insurer's trustworthiness and financial stability.

To start your claim process with Kotak Life Insurance, follow the below simple steps.

How to File a Claim?

Step 1: Visit the Kotak Life Insurance Official Website

Head to the official Kotak Life Insurance website. Look for the "How Do I" option.

Step 2: Click on "File a Claim"

After that, click on the "File a Claim" option.

Step 3: Click on “File Claim” option

On the new webpage, click on the “File Claim” option.

Step 4: Enter Policy and Claimant Details

Then, enter the policy number, claim type, life-assured name, life-assured DOB, claimant name, email ID, and mobile number.

Step 5: Generate OTP

After entering the details, an OTP will be sent to your mobile number. Enter the OTP and click on "Continue."

Step 6: Complete the Claim Filing

A new page will open where you will be able to complete your claim filing.

In the next section, we will talk about the details you need to fill out on the claim form.

Details to be Filled in the Kotak Life Claim Form

When filling out the claim form for Kotak Life Insurance, ensure you include the following information.

• Basic Details of Insured Person

Personal details of the life assured, such as full name, address, contact details (like phone number and email), age, and policy number.

• Claimant Details

Provide the full name, current address, and contact information of the nominee. Include their relationship to the insured, and enter the bank details where the claim money will be transferred.

• Incident Description

In the case of a death claim, explain the details of the incident that caused the death, such as the date, place, and type of death. Write whether the death was due to natural causes, an accident, or other reasons.

• Required Documents

Submit other essential documents with the form, like the death certificate, medical records, original policy documents, the claimant's photograph, and proof of current address.

Here’s a guide to understanding how the Kotak Life Insurance claim process works.

• Notify the Insurance Company

Inform the insurance company about the policyholder’s death as soon as possible. The claim should be made by the nominee, as specified by the insured.

• Provide Necessary Information

Submit all the required documents, such as the policy documents, a death certificate, and any other important documents, along with the claim form.

• Submit the Claim

Send the duly filled-in claim form and documents to the insurance company. You can do this via email at kli.claimsmitra@kotak.com or on their website.

• Verification and Review

The insurance provider will review the submitted documents and verify the claim’s validity. They may ask for some more documents if needed.

• Claim Approval and Payout

Once the claim is verified and approved, the insurer will process the payout. The payment can be made in a lump sum amount or instalments, depending on the policy terms and the beneficiary’s choice.

You can see the status of your claim by using the following methods.

Online

Step 1. Visit the Kotak Life Insurance Website: Go to the official Kotak Life Insurance website and click on the "How Do I" option. After that, click on the "Track Claim." (2)

Step 2. Enter Policy Details: On the next page, enter your Policy Number, Claim Number, and the Life Assured’s Date of Birth. Then, click on "Submit."

Step 3. View Claim Status: Another webpage will open to show the status of your claim.

Other Ways

WhatsApp: Send a “Hi” to Kotak Life Insurance’s WhatsApp number at 9321003007 to know the status of your claim. (3)

Kaya Chat Bot: Use the Kaya Chat Bot on the Kotak Life Insurance website to get information about your claim status. (4)

Offline

If you want to know the claim status offline, reach out to the Kotak Life Insurance customer support team via their helpline number at 1800-209-8800 (08:00 AM to 10:00 PM IST or you can also visit the nearest branch office of the insurer. (5)

Alternate Method

If you have bought the policy via InsuranceDekho, get in touch with our relationship manager at 755 1196 989 to know the claim status or drop an email at support@insurancedekho.com.

Kotak Life Insurance Claim Settlement Time

Kotak Life Insurance settles claims within 7 to 15 days from the date they receive all required documents.

To speed up your claim settlement process, follow these tips.

• Know Your Policy

Read the policy document carefully, as it will give you a sound idea about the features, inclusion, and exclusion and all the formalities and prerequisites to file a claim.

• Understand The Claim Settlement Process

The policyholder and their family members should know all about the claim settlement process and the documentation and formalities associated with it. This will prepare the family members when it’s time to file the claim.

• Keep Your Documents Handy

Keep your policy and claim-related documents handy. While filing the claim, submit the claim documents in advance to avoid any last-minute hazards.

• Be Honest with Your Insurer

Honesty is the best policy when it comes to claiming your insurance. Any dishonest method, such as concealing information or tweaking details, will only lead to delays in your settlement process.

• Document Everything

Without the proper documents, claim settlement is not possible. This is why document everything such as receipts and details of every relevant incident. Update all these details to the insurer to avoid any delays

The InsuranceDekho support team is available 24*7 to help Kotak life insurance policyholders via the below channels.

• Feel free to give us a call at 755 1196 989. The number is operational 24*7, except on national and gazetted holidays.
• If you prefer emailing, reach out at support@insurancedekho.com.