Electronic Clearing Service (ECS) is a convenient payment option that automatically debits your premium amount from your bank account on the due date.
Benefits of ECS
No need to remember your premium due dates
Ensures that your policy does not lapse due to non-payment
Please ensure that your policy is active (in force) at the time this facility is activated.
Standing Instruction on Kotak Bank Credit Card:
You can avail of the Standing Instruction facility on your Kotak Bank credit card by submitting the below documents at the nearest Kotak Life branch. To locate your nearest branch please click https://kli.in/TUPZTC
1. Kotak Credit Card debit Authorization form
2. Policy holders credit card statement
NEFT
Log into Net Banking of your bank account, select the option NEFT transfer and enter the below mentioned 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) |
Please note: For every successful NEFT transaction, your bank will provide a UTR (Unique Transaction Reference) Number. Please mention the UTR for any future correspondence with Kotak Life Insurance regarding your NEFT transaction.
NEFT premium payments should preferably be made from the policyholder’s bank account. If you wish to make an NEFT payment via a third-party account, kindly ensure that the third party is registered with Kotak Life for premium payment. You can register a Third Party Premium Payer at your nearest Kotak Life branch, which can be located here. The Payer will be registered in 3 days after submitting the request, post which the premium payment can be made to the above mentioned bank account.
UPI
Phone Pe - Premium payment has never been so simple. Now we are available on Phone Pe. Simply log in to the app>>Go to recharge and bill pay and select Insurance>>Search and Select Kotak Life Insurance>> Enter policy details>>make payment
Google pay - Premium payment has never been so simple. Now we are available on Google Pay. Simply log in to the app>> Search and select kotak life Insurance>> Enter policy details>>Link Account >>make payment
Amazon Pay - Premium payment has never been so simple. Now we are available on Amazon Pay. Simply log in to the app>> Go to Insurance and select Insurance premium>>Select Kotak Life Insurance>> Enter policy details>>make payment
Paytm - Premium payment has never been so simple. Now we are available on Paytm. Simply log in to the app>> search Insurance>>Select Insurance premium>>Search and select kotak life Insurance company limited>> Enter policy details>>make payment
Net Banking/Debit Card/Credit Card/UPI/ e-Wallet
Click here https://care.kotaklifeinsurance.com/prelogin# to pay premium instantly via Net Banking/Debit Card/Credit Card/UPI /e-Wallet
(All Indian payment cards are accepted)
Payment at Kotak Life Branch-
Pay Premiums by cash/cheque/demand draft at your nearest Kotak Mahindra Life Insurance Company Ltd. branch.
To locate your nearest branch, please click here https://kli.in/TUPZTC
Premium payments are accepted in cash only upto Rs. 49,999.
Cheque/DD should be drawn in favour of ‘Kotak Life Insurance Policy No XXXXXXXX. Kindly mention your name and contact number on the reverse side.
Please carry a copy of your PAN card for updation at Kotak Life end
Submit the Declaration of Relationship for Third Party Payment in case the premium is paid by a person other than the Policy Owner (Third party relations). Acceptable third-party relationships include Spouse, HUF ,Parents, Grandparent, Partnership firm, Sole Proprietorship firm, Company and Creditor.
