How Does Group Term Life Insurance Work?
From premiums to claims understand the how a group term life insurance work.
By Pazcare
April 30, 2023
Kotak Life Insurance
Key Insights
 |
Claim settlement ratio (2019-20) | |
Inception | |
| 98.50% | 2001 | |||
|
Presence | |
Total death benefit paid | |
| 232 offices | Rs 170.14 Crore | |||
|
Solvency ratio | |||
| 3.02 |
|
Claim settlement ratio (2019-20) |
| 98.50% | |
|
Inception |
| 2001 | |
|
Presence |
| 232 offices | |
|
Total death benefit paid |
| Rs 170.14 Crore | |
|
Solvency ratio |
| 3.02 |
About Kotak Life Insurance
Kotak Life Insurance company is one of the private life insurance companies in India. It was founded in the year 2001 and is one of the fast-growing insurance companies in India. Kotak Life insurance company offers various life insurance products like protection-based plans, savings-based plans and many more.
The Kotak Life Insurance company has more than 14.5 million customers and has its presence in over 200+ offices pan India.
With Pazcare employers can provide their employees with a group term life insurance policy from Kotak Life Insurance company. Get the best quotes for the Kotak group term insurance policy and manage the policy using Pazcare’s tech-enabled dashboard.
How to buy Kotak group term life insurance from Pazcare?
These simple steps allow you to purchase Kotak group term life insurance policy online from Pazcare.
Visit Pazcare, and choose group term insurance. If you are new to buying a group term policy, we recommend you review our offerings before purchasing the Kotak Life group term life insurance policy.
- Consult with our insurance experts
After submitting the form, our insurance experts will call you within 24 hours. Share your requirements to personalize your Kotak Life group term insurance policy offering with Pazcare.
- Product demo & sharing active employee data
We provide you with a product demo of how to administer the Kotak Life group term life insurance plan using the Pazcare dashboard. Once approved, share with us your active employee data to proceed with the process of buying the Kotak Life group term life insurance for employees.
- Getting quotes & onboarding
We get you competitive quotes from Kotak Life Life Insurer and other 4+ life insurers. Choose the best offering, say Kotak Life group term insurance policy and the onboarding process begins in 24 hours. You are covered with the best employee benefits from Pazcare.
Kotak group term insurance renewal with Pazcare
The Kotak group term insurance can be renewed easily with Pazcare at end of the policy term. Here is how you can renew your group term life insurance policy.
- Visit Pazcare
Visit Pazcare, and choose group term insurance. If you are new to renewing your Kotak Life group term insurance policy, we recommend you review our offerings before purchasing the Kotak Life group term life policy.
- Consult with our insurance experts
After submitting the form, our insurance experts will call you within 24 hours regarding the Kotak Life group term insurance policy renewal. Please submit active employee data, policy copy, claim dump report & claim analysis report to proceed.
- Product demo & personalisation
We provide you with the product demo if you are new to buying/renewing the Kotak Life group term insurance plan with Pazcare. The above-submitted documents allow us to personalise your Kotak Life group term policy according to the previous offerings.
- Getting quotes & onboarding
We get you competitive quotes from Kotak Life Life Insurance and other 4+ insurers. Choose the best Kotak Life group term life insurance policy renewal offering and the onboarding process begins in 24 hours. You are covered with the best employee benefits from Pazcare.
Kotak Life Insurance claim settlement ratio
The claim settlement ratio is the percentage of the claims settled by the Kotak Life insurance company during a particular financial year. Hence, the higher the claim settlement ratio, the better chances of the claims getting settled.
In the financial year 2020-21, the claim settlement ratio of Kotak Life Insurance is 98.50%.
Kotak group term insurance premium
The Kotak group term insurance premium depends on various factors like
Kotak Life group term insurance benefits from Pazcare
Purchasing your group term life insurance policy for employees from Kotak Life Insurance company has the following benefits.
Tax benefits
As employers, when you pay the premium towards the Kotak group term life insurance policy from Pazcare, you are eligible to avail tax benefits under Section 37(1) of the Income Tax Act of 1961.
Choose your riders
Your Kotak group term life insurance policy from Pazcare comes with customizable riders like critical illness rider, income benefit rider, accidental death benefit, etc at a much lower price
200+ offices
Kotak Life Insurance company has 200+ offices present in pan India. This means the offices are easily accessible near most geographical locations for paying the premiums offline or filing for claims offline.
High claim settlement ratio
The claim settlement ratio of Kotak Life Insurance company for the financial year 2020-21 is 98.50%. This means the chances of settling the claims for your group term life insurance policy from Pazcare are high.
Kotak Life group term insurance claim
Documents required to claim Kotak Life group term insurance
Here are the documents that you require to claim the Kotak group term insurance policy
Why buy a group term life insurance
policy online from Pazcare?
- Choose the suitable policy with our consulting approach
- Custom-made plan with health and mental wellness add-ons
- The tech-enabled Pazcare dashboard to manage endorsements
- Integrate the dashboard with your HRMS tool
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Kotak Life Insurance customer care number
Kotak Life Insurance customer care is available 24X7 for group term life insurance policy related assistance.
For any queries or assistance, reach out to us at any time. We provide 24X7 customer assistance.
Kotak Life Insurance FAQs
How can I go about Kotak life insurance policy renewal?
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With Pazcare, you can easily renew your Kotak life insurance policy. Get in touch with our insurance consultants at Pazcare. Submit all the basic documents. Just decide on the additional riders and the team will get back with the best quote. After you agree with terms & conditions, just pay the premium and your policy shall get activated immediately.
What is Kotak Life Insurance contact number?
The Kotak Life Insurance contact number is 1800 209 8800 . Alternatively, you can email them at clientservicedesk@kotak.com
What is Kotak Life Insurance WhatsApp number?
One can send a “hi” to Kotak Life Insurance WhatsApp number 93210 03007 to know about the policy details.
What is Kotak Life Insurance claim settlement ratio?
The claim settlement ratio of Kotak Life Insurance for the financial year 2021-2022 is 90.18%
How do I go about Kotak life insurance premium payment?
In order to pay Kotak life insurance premium, you can use online gateway payments or also use debit or credit card.
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