Kotak Mahindra Life Insurance Company Limited is a private life insurance company in India. The company was founded in 2001. It caters to 15 million customers and has 232 branches in around 167 cities and towns in India with 99,275 agents Under the umbrella, the company offers various protection plans, savings and investment plans, child plans and retirement plans.
Kotak Life Insurance's products include rural plans, term plans, savings, children, retirement and investment plans at nominal premium rates to be affordable by individual investment requirements that can cater to their lifetime requirements and each insurance plan is designed to provide maximum protection in addition to benefits and keeping in mind the different sections of society. To facilitate the sale of its products the company has a network of branch offices distributed across country, individual agents, insurance agencies and offices, individual and firm brokers for claim settlements and these products are also available online through aggregators and the company website. The company currently has 32 products including 9 group products, 10 ULIPs & 18 rider options (as on 4 July 2016). Till 2020,it had more than 250 branches around 167 cities in India and more than 1,00,000 advisors.
In the year 2020,company launched Kotak Health Shield, providing benefits like daily hospitalisation cash benefit, waiver of premium on being diagnosed with minor conditions, and income benefit on being diagnosed with major conditions and forayed into comprehensive health insurance segment.
