Facebook Twitter
1800 209 8800
(Mon - Sat : 8 am to 10 pm)
We stand in solidarity with the families who have lost their loved ones in the floods in Jammu & Kashmir. For any assistance on claims, click here.                                                                IRDA CAUTIONS PUBLIC AGAINST SPURIOUS CALLS AND FICTITIOUS OFFERS
Media

Premium Payment Options

Policyholders can make their insurance premium payment via the following ways:

 

  1. Payment through National Electronic Fund Transfer (NEFT)
  2. Electronic Clearing Services (ECS)
  3. Standing Instruction
  4. Direct Debit
  5. Payment through credit card
  6. Payment through debit card
  7. Online Payment
  8. Payment Through Mobile - Immediate Payment Service
  9. Payment through Bill Desk
  10. Electronic Bill Payment
  11. Kotak Mahindra Bank ATM Drop Boxes
  12. Payment at our Branch Offices

 

1. Payment through National Electronic Fund Transfer (NEFT)

 

Make premium payments through your bank account using National Electronic Fund Transfer (NEFT). Log into your Net Banking, 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)

For example if your policy no is 00921500, the beneficiary account would be 99800KLIFE00921500

If your Policy No is less than 8 digits, please add requisite number of zeroes before the Policy No

Account type Current Account
Beneficiary name Kotak Mahindra Old Mutual Life Insurance Limited
IFSC Code KKBK0000958
Bank Name Kotak Mahindra Bank
Branch Name MUMBAI NARIMAN POINT
Amount Rs.xxxxx ( Your premium amount)


Please note: For every successful NEFT transaction, your bank will provide a UTR number (Unique Transaction Reference No.). For any future correspondence with Kotak Life Insurance regarding your NEFT transaction, please mention the respective UTR number of that transaction.

 

Please call us at our Toll Free No 1800-209-8800 between 8.00 a.m. to 10 p.m. or write to us at clientservicedesk@kotak.com for any further clarification/assistance.

Back to top





2. Electronic Clearing Services (ECS)


ECS is an automated, simple and convenient insurance premium payment facility which debits your premium from bank account on your premium due date.

Benefits of ECS:

  • Relieves you from the task of remembering your premium due dates.

  • Relieves you from the task of periodic issuing and depositing cheques.

  • Helps you to pay your life insurance premium on the due date and ensure that your policy does not lapse due to non-payment.
  • You can deactivate ECS mode by providing a written notice at least 15 days prior to the due date of ECS submission.
  • In case of change in premium amount due to revision in service tax, you may be asked to submit a fresh ECS form
  • In case of any payout, the company reserves the rights to use any alternate option to process the same such as Cheque/ NEFT/RTGS, etc.

ECS facility is currently available in 81 convenient locations. Policyholders with bank accounts in these locations and are participating in clearing house operation may use this facility by just submitting the ECS Mandate Form along with a cancelled cheque (which helps us record the MICR code of your bank).You can submit this ECS Mandate Form at any of our branch offices or mail it to our communication address as mentioned below.


Kotak Mahindra Old Mutual Life Insurance Ltd
Kotak Infiniti, Building No. 21, Infinity Park
5th Floor, Zone 2. Off Western Express Highway,
General A K Vaidya Marg
Malad (E), Mumbai - 400 097

 

Back to top





3. Standing Instruction


The Standing Instruction facility is another insurance premium payment facility which auto debits the premium from your bank account on the due date. The direct debit facility is currently available to all account holders of Kotak Mahindra Bank and HDFC Bank.

To use this facility, you have to submit the duly-filled Standing Instruction form. After your bank verifies this form, you may start using this facility.

  • Click here to download Kotak Mahindra Bank Standing Instruction Form

  • Click here to download HDFC Bank Standing Instruction Form

You can submit this form at any of our branch offices or mail it to our communication address as mentioned below.

Kotak Mahindra Old Mutual Life Insurance Ltd
Kotak Infiniti, Building No. 21, Infinity Park
5th Floor, Zone 2. Off Western Express Highway
General A K Vaidya Marg
Malad (E), Mumbai - 400 097

Back to top





4. Direct Debit

 

You can make the payment for renewal premiums through Direct Debit Option. To use this facility, you need to have a valid banking account with any of the following banks

Sr. No. Bank Names
1 Allahabad Bank
2 Axis Bank
3 Bank of Baroda
4 Bank of India
5 CITI Bank
6 Federal Bank
7 ICICI Bank
8 IDBI Bank
9 Karnataka Bank
10 Kotak Mahindra Bank
11 State Bank of India
12 Union Bank of India
13 United Bank of India

 

To avail this facility please fill ECS/ Direct Debit form along with a cancelled cheque. You can submit the duly signed mandate at our nearest branch or mail it to our communication address as mentioned below:

 

Kotak Mahindra Old Mutual Life Insurance Ltd
Kotak Infiniti, Building No. 21, Infinity Park,
5th Floor, Zone 2. Off Western Express Highway,
General A K Vaidya Marg,
Malad (E), Mumbai - 400 097


Back to top




 

5. Payment through credit card


Credit Card** payment on website


You can now pay your renewal premium via Credit Card** (Master Card / Visa) on Kotak Life insurance website. For premium payment through Online mode click here


** In case, the proposer / policyholder opts for premium payment through Credit Card, the payment must be made only through Credit Card issued on the name of such proposer / policyholder.

 

Credit Card** payment at branches.


You can also swipe your credit card to pay your renewal payments at selected Kotak Life branches. Click here to download the list of branches where this facility is available.


** In case, the proposer / policyholder opts for premium payment through Credit Card, the payment must be made only through Credit Card issued on the name of such proposer / policyholder.

Back to top




 

6. Payment through debit card


You can use Visa debit card issued by any bank to pay your premium payments. Payments are also accepted through other debit cards which are issued by the following banks:

  • State Bank of India
  • Punjab National Bank
  • Union Bank of India
  • Indian Overseas Bank
  • Citibank

Click here to proceed to the payment gateway.

 

Back to top





7. Online Payment


Online Payment is an initiative to enable you to pay your renewal premiums anytime and anywhere. This service is available throughout India to all Kotak Life Insurance policyholders.

  • Click here to make your insurance premium payment

To use this facility, you need to have a valid net banking account with any of the following banks:

BANKS
ABN AMRO Bank ING Vysya Bank
Allahabad Bank Jammu & Kashmir Bank
Andhra Bank Karnataka Bank
Axis Bank Karur Vysya Bank
Bank of India Kotak Mahindra Bank
Bank of Baroda Lakshmi Vilas Bank
Bank of Maharashtra Oriental Bank of Commerce
Canara Bank Punjab National Bank
Central Bank of India State Bank of Bikaner and Jaipur
Citibank State Bank of Hyderabad
Corporation Bank State Bank of India
Deutsche Bank State Bank of Mysore
Development Credit Bank State Bank of Patiala
Dhanalakshmi Bank State Bank of Travancore
Federal Bank South Indian Bank
HDFC Bank Syndicate Bank
ICICI Bank Tamilnad Mercantile Bank
IDBI Bank UCO Bank
Indian Bank Union Bank of India
Indian Overseas Bank United Bank of India
IndusInd Bank Vijaya Bank


 

Back to top




8. Payment Through Mobile - Immediate Payment Service


Just follow these 3 simple steps for whole new experience of renewal Payment:

  1. Onetime Enrollment for Mobile Banking Service with your bank & register yourself for Immediate Payment Service (IMPS). Ask your bank to provide MMID (Mobile Money Identifier) & MPIN (Password for mobile transaction).

  2. Onetime Installation of Mobile Banking Application of your bank on your mobile phone. You can either directly install on your Mobile phone through GPRS or download the application to your PC/Laptop and then install it to your Mobile Phone using data cable or using Bluetooth.

  3. Go to Merchant Immediate Payment Service (IMPS) section on your Mobile Banking application and just input :

    • Merchant Mobile No : 9769554433
    • Merchant MMID: 9485784
    • Amount:
    • Payment Reference: <8 Digit Policy No>
    • MPIN

You will receive the instant debit confirmation on your mobile by your bank and your renewal payment is done.

Exciting features of IMPS :

  • Available on Go, 24 X 7
  • Instant Success confirmation by your bank
  • Extremely convenient

Please call us at our Toll Free No 1800-209-8800 or write to us at for any further clarification/assistance.


* Your bank should participate under IMPS Merchant banking for availing this service. Please check with your bank for Mobile Banking Application, MMID & MPIN No, if you do not have any.


* Currently Below listed banks are participating under Merchant IMPS. Please click below for more information.



* Merchant Mobile number & Merchant MMID need to be mentioned as given above.

 


Back to top




9. Payment through Bill Desk


You can authorise your insurance premium payments online through Bill Desk. Register yourself at Bill Desk and choose Kotak Life Insurance as a Biller under the Insurance category.

To use this facility, please follow the simple steps here:

  1. Log on to www.billdesk.com and register online.
    (No registration is required if you are an existing registered Bill Desk user)

  2. Select Kotak Mahindra Old Mutual Life Insurance as a Biller under Insurance category.

  3. Enroll your Policy.

  4. Authorise your payment.

Your registration request for renewal premium payment should reach Kotak Life Insurance at least 7 days prior to renewal due date.

In case the registration request is received, less than 7 days prior to the date on which premium is due or after this date, then for the current renewal cycle payment date will be adjusted by 7 days after receipt of registration request.

From the next cycle onwards, your renewal due date will be as per the original schedule. Renewal payment can be paid through this mode of payment only for policies where all the premiums have been paid on time.

Back to top




 


10. Electronic Bill Payment


You can also make your insurance premium payments online through your net banking account.

To use this facility, simply register yourself for the Bill Payment service with your bank and choose Kotak Mahindra Old Mutual Life Insurance as your Biller.

You can use this facility if you have a valid net banking account with any of these banks:

BANKS
ABN AMRO Bank IndusInd Bank
Ahmedabad Municipal Coop Bank ING Vysya Bank
American Express Jan Kalyan Sahakari Bank
Bank of Baroda Janata Sahakari Bank
Bank of India Kotak Mahindra Bank
Bank of Maharashtra Punjab and Maharashtra Coop Bank
Barclays Bank Punjab National Bank
Central Bank of India Shamrao Vithal Cooperative Bank
Centurion Bank of Punjab State Bank of Bikaner and Jaipur
Citibank State Bank of Hyderabad
CKP Cooperative Bank State Bank of India
Corporation Bank State Bank of Indore
Cosmos Bank State Bank of Mysore
Dena Bank State Bank of Patiala
Deutsche Bank State Bank of Saurashtra
HDFC Bank State Bank of Travancore
IDBI Bank UCO Bank
Indian Bank Union Bank of India
Yes Bank Vijay Cooperative Bank
ICICI Bank

Your registration request for renewal premium payment should reach Kotak Life Insurance at least 7 days prior to renewal due date.

In case the registration request is received, less than 7 days prior to the date on which premium is due or after this date, then for the current renewal cycle payment date will be adjusted by 7 days after receipt of registration request.

From the next cycle onwards your renewal due date will be as per the original schedule. Renewal payment can be paid through this mode of payment only for policies where all the premiums have been paid on time.

 

Back to top





11. Kotak Mahindra Bank ATM Drop Boxes


You can drop your premium cheques at any of the Kotak Mahindra Bank ATM drop boxes. Please draw the cheque in favour of "Kotak Life Insurance Policy Number XXXXXXX". Do mention your name and contact number on the reverse of the cheque.


Back to top




12. Payment at our Branch Offices


You can make premium payments by cash/cheque/ demand draft at your nearest Kotak Mahindra old Mutual Life Insurance branch.

Back to top




Terms & Conditions

 

PLEASE NOTE:
  • Premiums received in advance for all the policies will be adjusted only on the due date, and will not carry any interest.
  • In respect of premiums received up to 3 pm by the insurer the closing NAV of the business day on which premium is received shall be applicable
  • In respect of premiums received after 3 pm by the insurer the closing NAV of the next business day shall be applicable
  • In respect of valid applications received (switch, premium re-direction, etc) up to 3 pm by the insurer the closing NAV of the same business day shall be applicable
  • In respect of valid applications received (switch, premium re-direction, etc) after 3 pm by the insurer the closing NAV of the next business day shall be applicable
NOT SURE WHICH PLAN IS RIGHT FOR YOU?

View Our Insurance Guide


NEED HELP BUYING A PLAN?

Request a Life Advisor


Type the code shown :



By submitting this form, you hereby allow us to contact you even if you are registered under NDNC.


Explore Kotak Life Insurance