Prices Increasing soon Prices Increasing Soon

Kotak Life Insurance Grace Period

Kotak life grace period refers to the extra time provided by the Kotak life insurance company to the customers, allowing them to pay their premiums at their convenience. This ensures that the customers can pay their premiums and continue policy coverage without lapsing thier policy.

Read more
Gets ₹1 Cr. Life Cover at just
COVID-19 Covered
The Policybazaar Advantage
Dedicated claim support for family FREE
Upto 10% discount for buying online
Only certified experts will call you on 100% recorded lines
We are rated~
rating
58.9 Million
Registered Consumer
51
Insurance Partners
26.4 Million
Policies Sold

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

By clicking on "View plans" you agree to our Privacy Policy and Terms of use

~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

Life is Unpredictable! Protect your family’s future
Get ₹1 Crore Life cover starting from ₹384/month+
+91
Secure
We don’t spam
Check Your Premium Now
Please wait. We Are Processing..
Get Updates on WhatsApp
The Policybazaar Advantage
Policybazaar Advantage Icon
Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
Policybazaar Advantage Icon
100% calls recorded to ensure no mis-selling
We will make sure you get what is promised by the advisors. We conduct regular monitoring of our calls to make sure you get the best experience.
Policybazaar Advantage Icon
Exclusive lifetime discount upto 5% for buying online
The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
Policybazaar Advantage Icon
Advisors available in your city
Our advisors are available in more than 55 cities across India and can help you at your doorstep in understanding the plans and in documentation.
Policybazaar Advantage Icon
Refund at the click of a button
In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.

What is Kotak Life Insurance Grace Period?

The Kotak life grace period is the additional period the insurer provides, allowing the policyholder to pay the premiums without worrying about their policy lapsing. This period begins after the end of the life insurance premium due date. If you somehow miss a premium payment during the grace period, the policy will lapse and no longer cover you or provide death benefits in case of your untimely death.

You can pay the term insurance premiums for your Kotak grace period in the following two ways:

  • Single Payment: The premium is paid in one go at the time of buying the policy

  • Regular Payment: You can pay the premiums in a regular premium payment mode or a limited premium payment term

The Kotak Life Insurance Company provides the following grace period for their life insurance policies purchased online.

Premium Payment Mode Kotak Life Insurance Grace Period
Monthly 15 Days
Quarterly 30 Days
Half-yearly 30 Days
Yearly 30 Days

one crore term plan
plus

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/day+

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day+

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day+

How Does Kotak Life Grace Period Work?

Kotak Life Insurance provides a grace period during which the policyholders can pay the premiums without lapsing the policy. Let us understand this with an example:

Suppose Raman bought a 1 crore term insurance for 40 years to financially secure his family in the event of his unfortunate death. If Raman’s due date for premium payments is on the 5th of every month, he will be eligible to receive a 15-day Kotak life insurance grace period to make the premium payments. He can easily pay the premiums during this period without worrying about the policy lapsing.

What Happens at the End of the Kotak Life Grace Period?

The policy will lapse if you fail to pay the premiums during the premium due date or by the end of the Kotak life grace period. After the policy lapsation, the insurer will no longer be liable to provide the death benefit in case of the policyholder’s death during the policy term. Not only that, if you have opted for a return of premium term plan or no-cost term insurance, you will not be eligible to receive the premiums paid at the end of the policy.

Note: Know what is term plan first and then buy a term plan for your loved ones.

Note: It is suggested to calculate the term plan premium on the term policy calculator online tool by Policybazaar before buying.

one crore term plan

Secure Your Family Future Today

₹1 CRORE

Term Plan Starting @ ₹449/month+

Get an online discount of upto 10%+

Compare 40+ plans from 15 Insurers

+Standard T&C Applied

Should You Revive the Old Policy or Buy a New Policy?

Kotak Term Insurance offers its customers the option of reviving their lapsed life insurance plans by paying the outstanding premiums, the applicable interest, and the certificate of good health. You can compare the premiums and benefits offered for both the new plan and the lapsed policy to decide on the right policy coverage you need. 

If the cost of reviving the old life insurance is less than the cost of a new plan, then you should revive the old life insurance plan. However, if you get better benefits in the newer plan, you can buy it instead of reviving the old plan.

What are the Documents Required to Revive the Kotak Life Grace Period?

Here is a list of the documents required for the Kotak grace period:

  • Outstanding premiums

  • Revival charges

  • Interest charges

  • Certificate of good health

And any other documents as per the company’s T&Cs.

Wrapping it Up!

With the Kotak life insurance grace period, customers get an additional period to pay their premiums without accidentally canceling their policy. This gives customers some flexibility for the premium payment and allows them to pay the premiums at their own convenience if they don't have the funds ready by the premium due date.

Note: Check out the best term life insurance in India and choose one that suits your requirements.

Note: You should also check the term life insurance benefits if you are planning to purchase the term insurance plan.


Premium By Age



Choose Term Insurance Plan as per you need

Plans starting from @ ₹473/Month*
Term Insurance
4 crore Term Insurance
Term Insurance
6 Crore Term Insurance
Term Insurance
7 Crore Term Insurance
Term Insurance
7.5 crore Term Insurance
Term Insurance
8 Crore Term Insurance
Term Insurance
9 crore Term Insurance
Term Insurance
15 Crore Term Insurance
Term Insurance
20 Crore Term Insurance
Term Insurance
25 Crore Term Insurance
Term Insurance
30 Crore Term Insurance
Term Insurance
15 Lakh Term Insurance
Term Insurance
60 Lakh Term Insurance

Term insurance Articles

  • Recent Article
  • Popular Articles
19 Jul 2024

ICICI 5 Crore Term Insurance

Securing your family's financial future requires careful

Read more
19 Jul 2024

Bajaj 1 Crore Term Insurance

Ensuring your family's financial security requires indepth and

Read more
02 Jul 2024

Term Life Insurance in Daman and Diu 2024

Daman and Diu, a union territory in western India, consists of

Read more
02 Jul 2024

Term Life Insurance in Andhra Pradesh 2024

Andhra Pradesh, a state in the southern coastal region of India

Read more
02 Jul 2024

Term Life Insurance in Sikkim 2024

Sikkim is a Northeastern Indian state bordered by Bhutan, Tibet

Read more

Term Insurance for Women in India

Term insurance for women is a type of life insurance specifically designed for fulfilling women’s needs and

Read more

2 Crore Term Insurance Plan

Individuals can choose to buy best 2 crore term insurance plan that offers a life cover (sum assured) of ₹ 2

Read more

What Is Saral Jeevan Bima

Saral Jeevan Bima (SJB) is a simple term insurance plan that offers financial protection for policyholder’s

Read more

LIC Term Insurance Premium Calculator For Cover...

Affordability is crucial when evaluating any insurance policy; the premium amount associated with the plan is the

Read more
Need Help? Request Callback
top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL