Kotak Term Insurance Online Payment

Kotak Term Insurance Online Payment is a convenient way of paying premiums from the comfort of your home. It is a secure electronic service that allows customers to make payments for policy premiums, outstanding loans and interest, and policy renewals. Online payments can be made using credit or debit cards, UPI, NEFT, etc.

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With a click of a button, Kotak Term Insurance enables customers to make payments anywhere and anytime. It protects policyholders from paying late fees by reminding them of the due date and allowing them to track transactions. Let’s know more about Kotak Term Insurance Online Payment here.

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 13/day⁺

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

How do you make Kotak Term Insurance Online Payment?

The policyholders of Kotak Term Insurance get a simple and easy online facility to pay their policy premiums. There are various ways to make Kotak Term Insurance Online Payment. These are some of the easy and common ways:

Kotak Term Insurance Online Payment via Policybazaar

You can make online payments for your Kotak Term Insurance plan through Policybazaar. Add your plan details and make online payments using a credit/debit card. All you need to do is follow the steps below to make an online premium payment.
- Step 1: Go to the term insurance page of Policybazaar
- Step 2: Fill in your details like educational qualification, annual income, smoking habits, and occupation
- Step 3: Select your Kotak Term Plan
- Step 4: Proceed to pay

Kotak Term Insurance Online Payment via Kotak Life Insurance Official Website

The most common way of making Kotak Term insurance pay online is by visiting the official website of Kotak Term and following the online payment procedure mentioned there. You can pay using the Auto Debit Mode/Electronic Clearing Service (ECS) or the online payment method, or even through NEFT.

Here are the steps for making your Kotak Term Insurance Online Payment using Auto Debit Mode/ECS or NACH:

Step 1: While purchasing the Kotak Term Insurance policy and paying your first premium, choose Auto Debit mode or NACH
Step 2: Now, you can be relaxed about never missing a Kotak Term Insurance premium

Here are the steps for making your Kotak Term Insurance Online Payment using the Online Payment method:

Step 1: Visit the ‘Pay Premium Instantly’ portal of Kotak Life Insurance
Step 2: Enter your Policy Number and DOB
Step 3: Click on ‘Continue’ to proceed

*Note: You can pay your Kotak Term Insurance premium instantly using Net Banking, Debit Card, Credit Card, UPI, or e-Wallet. All Indian payment cards are accepted.

Here are the steps for making your Kotak Term Insurance Online Payment using NEFT:

Log into your bank's Net Banking, choose NEFT transfer, and enter the details below:

Parameters	Details
Beneficiary account	Enter the following: 99800KLIFE[Your 8-digit Policy Number] For example, if your Policy Number is 00921500, the entry would be 99800KLIFE00921500. If your Policy Number has fewer than 8 digits, add leading zeroes to make it 8 digits.
Account type	Current Account
Beneficiary name	Kotak Mahindra Life Insurance Company Limited
IFSC Code	For Kotak Bank customers: Use IFSC code KKBK000VRTL and select "OTHER BANKS" as it’s a virtual account. For customers of other banks: Use IFSC code KKBK0000958.
Bank Name	Kotak Mahindra Bank
Branch Name	MUMBAI NPT (Nariman point)
Amount	Rs. xxxxx (Your premium amount)

Things to Keep in Mind While Making NEFT and UPI Transactions

Here are some things to keep in mind when you make your NEFT transactions:
- UTR Number: Keep the UTR (Unique Transaction Reference) Number provided by your bank for future reference with Kotak Life Insurance.
- Payment Source: Preferably use the policyholder’s bank account for NEFT payments of your life insurance premiums. If using a third-party account, ensure the third party is registered with Kotak Life. Register a Third-Party Premium Payer at a Kotak Life branch (find locations here). Registration takes about 3 days.
- PhonePe: Go to Recharge & Bill Pay, select Insurance, choose Kotak Life Insurance, enter policy details, and make payment.
- Google Pay: Search for Kotak Life Insurance, enter policy details, link your account, and make payment.
- Amazon Pay: Go to Insurance, select Insurance Premium, choose Kotak Life Insurance, enter policy details, and make payment.
- Paytm: Search for Insurance, select Insurance Premium, choose Kotak Life Insurance Company Limited, enter policy details, and make payment.

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What are the Benefits of Using Auto Debit Mode/ECS for Kotak Term Insurance Online Payment?

The benefits of Electronic Clearing Service (ECS)/Auto Debit Mode for Policy Premium Payment:

Automatic Payments: Premiums are debited automatically on the due date.
No Reminders Needed: Eliminates the need to remember due dates.
Prevents Policy Lapse: Reduces the risk of policy lapse due to missed payments.

*Note: Ensure your policy is active when setting up ECS and that you have sufficient balance in your bank account.

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

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FAQs

Q: How can I make a Kotak Term Insurance Online Payment?

Ans: You can make a Kotak Term Insurance online payment using the following methods:
Through Policybazaar: Go to Policybazaar, enter your details, select your Kotak Term plan, and pay using a credit/debit card.
Through Kotak Life Insurance Website: Visit the ‘Pay Premium Instantly’ portal, enter your Policy Number and DOB, and proceed to pay using Net Banking, Debit Card, Credit Card, UPI, or e-Wallet.
Through NEFT: Log into Net Banking, select NEFT transfer, and use the details provided for your policy.
Q: What is the process for making payments via NEFT for Kotak Term Insurance Online Payment?

Ans: To make payments via NEFT for Kotak Term Insurance:
1. Log into your bank's Net Banking platform.
2. Choose NEFT transfer and enter the Beneficiary account as 99800KLIFE[Your 8-digit Policy Number].
3. Use the appropriate IFSC code: KKBK000VRTL for Kotak Bank or KKBK0000958 for other banks.
4. Provide the premium amount and other required details.
Q: What should I keep in mind for NEFT transactions for Kotak Term Insurance Online Payment?

Ans: When making NEFT transactions for Kotak Term Insurance, keep the following in mind:
UTR Number: Save the UTR number provided by your bank for future reference.
Payment Source: Use the policyholder’s bank account. If using a third-party account, ensure it’s registered with Kotak Life.
Q: How can I pay using UPI for Kotak Term Insurance Online Payment?

Ans: To make payments using UPI for Kotak Term Insurance:
PhonePe: Select Insurance, choose Kotak Life Insurance, enter policy details, and pay.
Google Pay: Search for Kotak Life Insurance, enter policy details, link your account, and pay.
Amazon Pay: Go to Insurance, select Kotak Life Insurance, enter policy details, and pay.
Paytm: Search for Insurance, select Kotak Life Insurance Company Limited, enter policy details, and pay.
Q: What are the benefits of using Auto Debit Mode/ECS for Kotak Term Insurance Online Payment?

Ans: The benefits of using Auto Debit Mode or ECS for Kotak Term Insurance online payment include:
Automatic Payments: Premiums are debited automatically on the due date.
No Reminders Needed: You don’t have to remember due dates.
Prevents Policy Lapse: Reduces the risk of policy lapse due to missed payments.

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˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

Women

+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.

1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

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