Kotak Life Insurance
Kotak Mahindra Life Insurance Claim Settlement Process

Kotak Mahindra Life Insurance Claim Settlement

It is no surprise that life insurance is specifically designed to provide maximum coverage against the demise of the policyholder. And if something unfortunate happens to them, you should know how to make a successful life insurance claim. But if you don’t know the steps to make a claim, you may run into problems that could lead to nothing but stress.

But if you have Kotak Mahindra life insurance, then you may rest assured that the claim settlement is smooth and hassle-free. With a 98.50% claim ratio for the financial year (2020-21), the company allows you to easily file a claim and settle it at the earliest possible. Read on to know the claim settlement process of Kotak Mahindra life insurance.

How To Claim Kotak Mahindra Life Insurance Policy?

Kotak Life Insurance has a hassle-free claim settlement process. The process is as follows:

Step 1: Claim Intimation

To intimate the claim, you will need to follow these steps:

  1. Go to the official website of Kotak life.
  1. Scroll down and you will see “File a Claim” option under the grey colored banner. Click on it.
  1. Then, you will see an option, “File Claim” under individual claim. Click on it.
  1. After clicking, you will be directed to a new screen wherein you will need to enter your policy details, policy number, policyholder detail (Name of life insured, date of birth of life insured, date of death), claimant details (name of claimant, date of birth of claimant, mobile number of claimaint, email of claimant).
  1. Enter the “Captcha” code. And then click on “Generate OTP”. The OTP will be sent to your registered mobile number and email ID.
  1. Click on “Next”.
  1. Once you are done entering the first phase, you need to enter “Claim Intimation Details” and click “Next”.
  1. Finally, you need to submit documents as per the type of claim (death/maturity) and upload them online to proceed with your claim process.

Step 2: Claim Pay Out

Once the company goes through all the documents and the claim decision has been made, the amount will be paid as per the terms and conditions of the policy tenure.

Via Offline Method

If you want to claim your Kotak life insurance policy via the offline method, you will need to visit the nearest Kotak Life Insurance branch office. You can verify the policy details and provide the required documents. The claimant will be required to submit life assured details and documents necessary to file for a particular type of claim. The documents can be submitted to the claims team at the Kotak Life Insurance branch.

Also, you can call on their toll-free number at 1800 209 8800.

Documents Required During the Claim Process of Kotak Mahindra Life Insurance

The following are the documents that you need to claim your Kotak Mahindra Life Insurance.

Death Claim

  • Filled death claim intimation form
  • Original policy documents
  • Original death certificate issued by the government or local municipal authority
  • Claimant’s photo ID proof
  • Medical records
  • Claimant’s bank account details/copy bank statement/copy of bank passbook
  • Medical certificate that states the cause of death
  • Copy of post-mortem report

Unnatural/Accidental Death Claim

  • Filled death claim intimation form
  • Original policy documents
  • Claimant’s photo ID proof
  • Claimant’s bank account details/copy bank statement/copy of bank passbook.
  • Original death certificate issued by the government or local municipal authority.
  • Medical certificate that states the cause of death
  • Medical records
  • Copy of FIR/Punchnama
  • Copy of post-mortem report
  • Copy of driver’s license (in case of a car accident).

Points To Remember While Filing a Claim Against Kotak Mahindra Life Insurance Policy

Here are the points to consider while filing a claim against your Kotak Mahindra life insurance policy.

  • Make sure you inform them about the death claim as soon as possible right after the occurrence of the event to the policyholder.
  • Make sure you submit all the necessary documents on time to ensure a quick and hassle-free procedure.
  • If your policy is more than 3 years old, there are fewer chances of investigation.
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