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Kotak Mahindra Life Insurance Online Payment

Kotak Mahindra Life Insurance Co. Ltd. is a well-known life insurance company in India. Apart from providing comprehensive life insurance solutions, the insurer is quite popular for its online services. The company offers its online premium payment services, allowing you to pay your Kotak premiums online through different channels and download your Kotak life insurance premium receipt.

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How to Make Kotak Life Insurance Online Payment?

Kotak life insurance renewals and premium payments can be made simply for policies. The various Kotak Mahindra life insurance online payment methods include Net Banking, Credit Card, Debit Card, UPI, wallets, Bill Pay, and more:

  1. NEFT (National Electronic Funds Transfer)

    Before selecting the NEFT payment option, enter the following details:

    Beneficiary account 99800KLIFExxxxxxxx (The number after KLIFE would be your 8 digit Policy Number) E.g.: If your Policy No. is 00921500, the beneficiary account would be 99800KLIFE00921500 If your Policy Number is less than 8 digits, please add requisite number of zeroes before the Policy No.
    Account type Current Account
    Beneficiary name Kotak Mahindra Life Insurance Company Limited
    IFSC Code For Kotak Bank customers: KKBK000VRTL (Note: Kotak bank customers should use IFSC code- KKBK000VRTL and select bank name as “OTHER BANKS” as it’s a virtual account) For Other Bank customers: KKBK0000958
    Bank Name Kotak Mahindra Bank
    Branch Name MUMBAI NPT (Nariman point)
    Amount Rs. xxxxx ( Your premium amount)

    It's best if the policyholder pays the premium through NEFT from their own bank account. If you want to pay through a different bank account, you need to be registered with Kotak Life for premium payments. You can register them as a Third Party Premium Payer at a nearby Kotak Life branch. It takes about 3 days to register them, and after that, you can make the premium payment to the bank account mentioned above.

  2. ECS (Electronic Clearing Service)

    ECS is an automated auto-debit service in which your chosen bank account will debit the premiums automatically on the premium due date.

    • Now you no longer need to keep track of your premium due date or deal with the hassle of issuing or depositing payment checks.

    • Auto-debit guarantees that premium payments are made on time, preventing the policy from being lapsed.

  3. Credit Card/Debit Card/Netbanking/eWallets

    • On the life insurance company’s website, you can pay your policy renewal premiums with the preferred premium payment method.

  4. UPI Payments

    The premium payment procedure for different UPI apps is similar and simple. Just log onto the app, search and select the insurer, and make premium payments. You can use the following apps to make UPI payments

    • PayTM

    • Google Pay

    • Amazon Pay

    • PhonePe

  5.  Bill Desk

    Bill Desk is an online payment portal that is another safe choice for making Kotak insurance payments.

    • To use Bill Desk to make payments, you must first create an account on the Bill Desk website. Bill Desk users do not need to register.

    • Then, in the insurance section, add the insurer to your biller list.

    • Enroll in your policy and authorize the Kotak life online payment after listing the biller.

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Points To Remember While Making Kotak Life Insurance Online Payment

The Kotak life online payment can be made using the following information.

  • You will need to choose a credit/debit card as a payment method and enter the card information on the payment tab. 

  • You can use the Kotak Life Insurance Premium Calculator to estimate the amount you would need to pay as regular premiums.

  • The company allows you to download the issued Kotak life insurance premium receipt every time you pay your premiums. 

  • Kotak insurance payment offers a grace period of 15 days for monthly premiums and 30 days for all the rest premium payment modes.

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Benefits of Using Kotak Life Insurance Online Payment Option

Here is how Kotak Mahindra Life Insurance Online Payment can benefit you while paying your premiums

  • Saves Time -The payments made online are usually convenient, fast, and cost-effective, and save your time. The offline method is time-consuming and you might have to wait in a long queue for hours to pay your premiums.

  • Ease of Use - Kotak life online payment systems make it easy to purchase products and pay premiums online over the internet.

  • Autonomous- Payments can be set up to be automated, which is beneficial for both the customers and the insurer.

  • Secured- Online transfers usually go straight into the bank account after processing delays, posing a low risk of fraud.

  • Download Receipts - You can easily download your Kotak life insurance premium receipt online by logging into your company account and accessing your policy.


  • Q: What is the best way to verify the status of a policy?

    Ans: If you’re a registered user, you can check the status of your policy by logging into the e-portal with your policy details.
  • Q: What is the procedure for renewing a policy?

    Ans: If you are a registered customer, you can renew your policy in three easy steps online:
    • Log in to the e-portal with your policy details.
    • Choose the policy type and payment method from the given options.
    • Pay through a safe portal and print/save the payment receipt.
    In offline mode, you can make a cash deposit or drop a cheque at the nearest branch.
  • Q: What banks are allowed for online payment services?

    Ans: You can pay using your Citibank, Kotak Bank, HDFC Bank, UTI Bank, ICICI Bank, IDBI Bank, Punjab National Bank, Union Bank of India, Bank of India, IndusInd Bank, and Centurion Bank of Punjab Net Banking accounts.
  • Q: Is it safe to pay for premium services online?

    Ans: Yes, paying for Kotak Mahindra life insurance premiums online is entirely safe, stable, and done through an encrypted platform.
  • Q: Will I get a Kotak life insurance premium receipt for every payment I make?

    Ans: You will receive a Kotak life insurance premium receipt at the time you make a payment. Only after confirmation of a satisfactory transaction will a receipt be given in ECS / SI cases.
  • Q: Will I get a full refund of my investment?

    Ans: After deducting stamp duty, medical costs, and the proportionate risk premium for the duration of coverage, the insurer will refund your premium.
  • Q: What is the difference between term and life insurance?

    Ans: The only difference between life insurance and term insurance plans is that in term insurance only a death benefit is paid to the nominee whereas, in a life insurance product, both survival and maturity benefits are offered along with a life cover.
  • Q: Does term insurance have tax benefits?

    Ans: Yes, as per Section 80C of the Income Tax Act, 1961, you can get a tax benefit of up to Rs 1.5 lakh in a year. (Tax benefits are subject to change as per the prevailing tax laws.)
  • Q: Is it possible to use a single mandate with different policies?

    Ans: No, the policyholder must have a different mandate for each policy.

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