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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
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:
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
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]
|
| 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) |
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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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.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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