Formerly known as Kotak Mahindra Old Mutual Life Insurance Limited, Kotak Life Insurance is a joint venture between Kotak Mahindra and Old Mutual-its affiliates. The company holds a strong reputation as one of the most trusted and leading insurance providers in India, offering a range of customised products and services to fulfil the diverse needs of their customers.
With an extensive portfolio, Kotak Life Insurance deals with a range of well-designed products as discussed below:
a) Kotak Life pure protection plans
Specifically designed protection plans of Kotak life insurance ensure that the financial interests of your family are secure in the unfortunate event of untimely death. The most popular protection plans offered by Kotak Mahindra Life Insurance Limited are:
- Kotak Life Preferred e-Term Plan
- Kotak Life Saral Suraksha Plan
- Kotak Life Term Plan
- Kotak Life Income Protection Plan
b) Kotak Life savings and investment plans
Another popular category of Kotak Life product suite, Kotak Life savings and investment plans offer an excellent opportunity to the customers of saving as well as earning money. The plans are designed in a systematic way to ensure that the invested funds are utilised to meet the financial needs of the customers. Some of the best savings and investment plans by Kotak are:
- Kotak Life assured income plan
- Kotak life assured income accelerator plan
- Kotak Life assure savings plan
- Kotak Life wealth insurance plan
- Kotak Life premier Money back plan
c) Kotak Life retirement and child plans
An excellent way to ensure a regular inflow of income for retirees and to secure the future of one’s children, Kotak Life retirement and child plans enable you to plan and save money for various needs in a systematic manner. Some of the popular retirement and child plans from Kotak Life include:
- Kotak Life e-Lifetime Income Plan
- Kotak Premier Pension Plus Plan
- Kotak Life Headstart Child Assure Plan
- Kotak Lifetime Income Plan
Furthermore, the company also offers multiple life insurance solutions for individuals as well as group entities to meet various long-term goals. At Coverfox.com, you can access and compare a great variety of plans from Kotak Life Insurance before finalising the one you need to buy as per your individual needs.
What Is Kotak Life Insurance Known For?
One of the fastest growing life insurance companies in India, Kotak Life Insurance is known for an excellent range of insurance plans for varied needs, transparent services, robust customer support, high claim settlement ratio, and profitable returns on investments.
The detailed benefits of buying Kotak Life Insurance Plans are discussed below:
a) A wide range of customised plans
As a leading insurance company, Kotak Life insurance has an extensive portfolio of excellent plans catering to different classes of people. Some of the examples are:
- Pure risk cover plans to provide adequate protection such as different variants of Kotak Term Plans.
- Kotak Life ULIP plans which are an excellent way to build long-term wealth.
- Kotak Life Pension Plans to ensure financial independence to retirees.
b) Excellent Claim Settlement Ratio
One of the distinguishing features of Kotak Life Insurance is the excellent Claim Settlement Ratio (92.59% for 2016-17) of the company. The entire process of claim assistance for Kotak life insurance is extremely simple and hassle-free where the customers can directly file the claims at the company’s website.
c) Transparent services and robust customer support
Whether it is about keeping customers updated on latest market trends, declaring the fund performances, or resolving customer queries within record time, Kotak maintains complete transparency in everything.
Customer Trust in Kotak Life Insurance
Covering an overwhelming 20 million lives (as on 31st March 2018); Kotak Life Insurance holds a strong position in the Indian insurance market. Offering high-quality life insurance solutions to the customers, the company has successfully gained customer trust over a period of time.
Below are some of the things which make Kotak Life Insurance a preferred choice for varied life insurance needs:
a) Innovative approach
Constantly aiming for high professional standards and excellent service quality, Kotak Life follows an innovative approach in all its offerings. The company, along with continuously working on designing new and better products, also works on several other initiatives to gain customers’ confidence and trust.
Some of the examples of this are:
- Various CSR initiatives to promote education, vocational skills, and other livelihood projects.
- Targeted work towards promoting preventive healthcare, sanitation, and sustainable development of society.
b) Financial excellence
One of the reasons why Kotak Life enjoys unanimous customer trust is due to the financial prudence of the company. Whether it is hassle-free claim processing or superior investment management, Kotak aces in each and every aspect.
Some examples of the company’s financial prudence are:
- The excellent Claims Settlement Ratio track record for the last 6 years at a consistent 91-92%.
- Consistency displayed by the company in terms of annual premium growth in the last few years.
To sum it up
With a range of structured life insurance plans for varied needs such as financial protection, retirement, investment/savings, etc., Kotak life insurance plans best suit your individual needs. Coverfox.com allows you to access the best of Kotak plans in various categories to make your life simple and stress-free.