Kotak Life

Buy a Life Insurance Plan in a few clicks


Now you can buy life insurance plan online.

Kotak e-Term Plan

Kotak e-Term Plan provides a high level of protection to your loved ones in your absence. Know more

Kotak Guaranteed Savings Plan

Kotak Guaranteed Savings Plan is a savings and protection plan that helps you achieve long-term financial goals and provides an insurance cover against any eventuality. Know more

Kotak E-Invest

Kotak e-Invest plan is a complete Unit-Linked Insurance Plan that can be customized as per your goals and needs. Know more

Kotak Health Shield

Kotak Health Shield Plan helps secure your finances in sudden medical expenses such as Cardiac, Liver, Neuro, and Cancer (all early and significant illness stages/conditions of cancer), along with offering protection for personal accidents - in case of accidental death or disability. Know more

Kotak Lifetime Income Plan

Kotak Lifetime Income Plan gives you the security of your income continuing throughout your life and in your absence throughout your spouse's lifetime! Know more

Process of Filing A Claim For Life Insurance

Process of Filing A Claim For Life Insurance
  • 23rd Nov 2021 |
  • 1,021

The main purpose of purchasing a life insurance policy is to guarantee that your loved ones are well cared for when you are no longer around. Though nothing can bring solace in such a situation, having a reliable financial plan in place ensures you have one less thing to worry about, and this becomes a major reason to purchase a life insurance plan for your family. It is a kind of reassurance for them that even though you couldn’t be by their side, the benefits received from the life insurance policy would certainly keep them financially secure.

It’s important to remember that settlement claims don’t just accommodate death claims. They also include other sorts of claims - the most common of which are maturity and rider claims.

Death Claim

After the policyholder’s death, a death claim form needs to be filled out and submitted so that the nominee can avail the life insurance benefits listed under the insurance claim settlement of the policy.

Step 1: Initiation and Form Filling

The nominee should notify the insurance provider as swiftly and early as possible to begin the claim procedure. The death claim form is available locally at the insurance provider’s branch or can be accessed from the firm’s website.

Details To Be Filled Out On The Form -

- Life insurance policy number

- Name of insured

- The Date Of Death

- The Cause Of Death

- Location Of Death

- Name Of Nominee

Step 2: Required Documents For Death Claim

To proceed towards insurance claim settlement, the nominee is required to submit the following documents -

- Filed Death Claim Form

- Certificate Of Death

- Deeds Of Assignment

- Original Policy Document

- Any Other Documents Requested By The Insurance Company

Step 3: Claim Settlement

According to rule 8 of the IRDAI Regulations, 2002, an insurance provider must pay a claim within 30 days after receiving all relevant papers, including any additional documents requested by the insurer for the procedure of settlement claims. If the claim necessitates additional investigation, the insurer must complete its processes within twenty-six weeks of receiving the notification of claim in writing.


  • Maturity Claim
  • A life insurance policyholder must send a maturity claim on the policy’s maturity period. To ensure prompt payment, the discharge form needs to be submitted with the original policy even before the maturity date. Upon that maturity date, most firms issue post-dated checks and make the payment via ECS credits.

  • The Rider Claim
  • For added protection, several riders can be added to the main life insurance policy. Premium waiver riders, accidental riders, critical illness riders, and so forth are good examples. Different insurance claim settlement procedures are necessary for individual riders. Some riders, like the accidental death rider, could be valid in conjunction with a death claim. In contrast, others, such as the waiver of premium rider in the event of incapacity, must be processed separately.

  • Claim Settlement Ratio
  • The claim settlement ratio is an important component of life insurance since it determines how much money the nominee will get in settlement claims. Every insurance company has a distinct claim settlement ratio. The total number of claims resolved is divided by the total number of death claims to get the claim settlement ratio. Nevertheless, this should not be the sole consideration when selecting a life insurance policy.

To sum up, the procedure of filing and receiving claim approval is stressful itself during these emotionally trying circumstances. Therefore, to prevent a claim settlement rejection, it is imperative that the claimant be well-versed in the specifics of the whole procedure and the documents required.

Kotak e-Term Plan


  • Nominal Cost
  • Multiple Plan Options
  • Flexible Payout Options
  • Critical Illness Rider
  • Tax Savings
  • Long term Coverage

Ref. No. KLI/22-23/E-BB/492


Browse our library of resources

- A Consumer Education Initiative series by Kotak Life

Similar Articles

Can I Make Changes to My Term Insurance Policy Post Purchase?

Insuring Against Accidents with an Accidental Death Insurance Rider

टर्म इंश्योरेंस क्या है? टर्म इंश्योरेंस का मतलब

What is Insurance Premium - A Detailed Guide

How to Ensure That Your Term Insurance Claims Are Never Rejected?

Insurance Policy for Housewife In India

Why Term Insurance Is Better Than ULIP?

Why Term Plan Should Be The First Step To Securing Your Future?

Do Beneficiaries Pay Taxes on Term Insurance?

Online vs Offline Term Insurance: Which Is The Better Option To Buy

How to Compare Term Insurance Online

How To Change The Nominee in Term Insurance?

What All Documents Required For Term Insurance In India?

Why Buy Term Insurance Even at Rising Rates?

Term Vs. Whole Life Insurance: Which One You Should Buy in India?

Key Differences Between Term Insurance, ULIPs, And Health Insurance

How to Identify Term Insurance According to Your Needs?

Buying A Term Insurance? Don't Ignore the Claims Settlement Ratio

Term Plan with Spouse Cover

Planning For Children's Future

Busting Myths and Facts About Term Insurance Policies

What is a Joint Term Insurance Plan? Key Benefits of Joint Term Plan

How Not To Get Your Term Insurance Claim Rejected

What are the Documents Required for Term Insurance Plan?

Can I Buy Term Insurance for a COVID-19 Patient?

What is a short term insurance policy?

How Much Term Insurance Do I Need

Make Your Online Term Plan Your Familys Monthly Payout

Choosing Riders for Insurance Plans

How Does A Term Life Insurance Work in India?

Why Premium Amount for Term Insurance is So Low?

Why Should You Buy Term Insurance in 2022?

Is There Any Tax Benefit on Term Insurance?

Reasons You Need Term Insurance Plan as a Self-Employed Person

Can Non-Resident Indians (NRIs) Buy Term Insurance In India?

Cost of Term Insurance Likely to Increase Soon

Can Term Insurance Plans Be Purchased As A Gift?

Why does every working woman need life insurance?

Top 3 Reasons Why You Should Buy A Term Plan Now

Can I Get Term Insurance on Behalf of My Spouse?

Is Group Term Life Insurance Provided By Employer Sufficient?

Should Youngsters, Working Couples Buy Term Insurance Plans?

Should You Have Multiple Term Life Insurance Policies?

9 Ways to Help Family Members in Financial Trouble

10-Year Term Life Insurance Policy - Explained in Detail

How Much Cover Should I Take In A Term Plan?

Importance of Term Insurance at Every Stage of Your Life

What Is the Correct Age to Buy Term Insurance?

8 Benefits of Term Insurance You Should Know

What are incremental term insurance plans?

Tips to Choose the Right Term Period for Term Insurance Plan

What Happens if you Hide Facts in your Term Insurance?

8 Things To Do After Buying Term Insurance

Individual Life Insurance vs. Group Term Life Insurance

Term Insurance Basics You Should Know

Can I Extend the Tenure of My Term Insurance Plan?

All About Term Insurance Inbuilt Coverage

Why Buying a Term Plan Is Smarter Than Traditional Life Insurance Products

Everything About Claim Settlement Ratio for Term Insurance

Endowment Plans vs Term Plans: Understanding the difference

Does Your Term Insurance Plan Cover Death Due to COVID-19?

When is the Right Time to Buy Term Life Insurance Policy for Yourself?

What Is a Renewable Term Insurance Policy?

How to Surrender Term Life Insurance When you have No Liabilities

While Buying Term Insurance Compare Features, Not Just Premiums

Why is it important to buy term insurance plan?

Protection for your family

What Are the Best Term Insurance Plans for Planning Retirement?

Is ₹1 Crore Term Insurance Good Enough Cover?

Insuring Protection Against Death With Death Insurance Rider

Why Buy Term Insurance Plan With a High Cover?

Should You Buy a Term Plan After 40?

Term Insurance: What Happens When You Don’t Pay Your Premiums?

Why Surrendering Your Term Plan Policy In The Final Phase Maybe A Bad Idea?

Term Insurance With Riders In India

How to Buy 1 Crore Life Insurance Policy Without Medical Test

Why Should New Parents Buy Term Life Insurance?

Term Insurance Age Limit – Term Plan for All Age Groups

8 Factors to consider before choosing a Critical Illness Insurance

9 Most Frequently Asked Questions on Term Insurance

Can A Housewife Buy a Term Insurance Plan - All You Need to Know

How Much Term Life Insurance Cover Do I Need in India?

Why should single women purchase term life insurance?

Ideal Features of a Suitable Term Plan - Act Now for a Stress-free Future

What is Critical Illness Policy

Advantages & Disadvantages of Term Insurance in India

Can You Increase Your Term Insurance Cover?

Key IRDAI Regulations That Changed Face Of Term Insurance Industry In 2020

Calculating Term Insurance Premium

Is Life Insurance Investment Worthy Enough

Which Term Insurance to Choose: Lump Sum or Staggered Pay-out Plan?

Term Insurance with Critical Illness

Can Senior Citizens Avail Term Insurance?

Buying A Term Insurance Plan? Take These Factors into Account

Term Insurance Calculator - Everythng You Need To Know

How To Choose the Right Term Insurance Plan?

Term Plans are Definitely Cheaper than You Think!

Difference Between Term Insurance vs Life Insurance

Why Married People Should Buy Term Insurance Under MWP Act?

Are The Add-ons and Optional Features of Term Insurance Plans Actually Beneficial?

Planning For Son or Daughter's Wedding

Understanding Term Insurance Riders

Advantages of Buying Term Insurance in Your 50s

Is term Insurance Needed for People With No Dependents?

Term Insurance – Why You Must Include In Your Financial Planning?

Why 1 Cr Term Plan Is Necessary For Family?

4 Things To Expect From Your Term Insurance Plan in India

Do You Need Term Insurance Cover After Retirement?

Different Types of Protection Plans

Steps on How to Buy Term Insurance Online

What Are Insurance Riders and How to Choose Them in a Term Plan?

Different Types of Premium in Term Insurance

Is It Good To Buy A Term Insurance Plan In 2022?

5 Benefits of Early Retirement Planning

Why Should You Not Take A Term Plan Without Medical Test in India?

What is Form 16, Form 16 part A, Form 16 part B, Information Required and FAQs

What Should Be The Duration Of Your Term Plan in India?

Is Term Life Insurance Plan an Investment or Expense?

Ensure Protection Against Death, Disease & Disability With Life Insurance

Comparing Term Plans – What Should You Look Out For

What Is a Passive Income? Why Should You Use It to Buy a Term Plan?

Does Term Insurance Cover Accidental Death?

Tax Benefits of Term Insurance in India

Why Should You Add a Rider to a Term Insurance Plan?

Term Insurance Plans and Policies for Smokers

What Happens to Term Insurance Plan With No Beneficiary - Kotak Life

Why Term Insurance Is Important in times of COVID-19?

4 Reasons Why You Need Critical Illness Cover

What Should You opt for - Limited or Premium Pay?

Do I Need to Give a Medical Test for Term Insurance in India?

Eligibility Criteria for Buying Term Insurance in India

Know How to Invest at Every Age for Larger Returns

How Does Term Life Insurance Work? Learn the Benefits

Insuring yourself against Ill Health with a Critical Illness Rider

Term Life Insurance Plan for Smokers vs Non-Smokers

What is the Right Term Period For Term Insurance Policy? Here's How You Should Choose!

Increasing Term Insurance and Riders

6 Reasons That Make Term Insurance a Must Buy

All you need to Know about Term Insurance Plans for Housewives

5 Things To Consider While Buying Term Insurance Plan

How To Calculate The Amount Of Term Life Insurance You Need?

What Types of Deaths Are Covered in a Term Insurance Plan?

Insuring Against Disability With Disability Insurance Rider

4 Methods to Calculate How Much Term Insurance You Need

Is a Term Insurance Policy Portable?

5 Term Insurance Benefits for Single Women

Term Insurance: Most Common Term Insurance Myths Explained | Kotak Life

5 Reasons to Buy Term Insurance When You are in Your 30s

What is Term Insurance - A Complete Guide

Side Effects of Covid-19 Booster Doses

Term Insurance: Smokers vs Non-Smokers

6 Types of Death not covered in Term Insurance Plan

Make Your Online Term Plan Your Family's Monthly Pay Cheque

Best Investment Plans for Children - Secure Your Child's Future

Gift Your Father A Term Insurance Plan This Father's Day

Is it a Good Time to Buy Term Insurance During the COVID-19 Pandemic?

Which Death Type Does Your Term Plan Not Cover?

How To Choose the Right Sum Assured Under a Term Plan?