Postclic unlimited subscription: promo at Rs 92,44 for 48h with a mandatory first month at Rs 5.032,79, then Rs 5.032,79 per month without commitment
Cancel KOTAK INSURANCE
in 30 seconds only!
Cancellation service #1 in India
4.9Calculated on 5.6K reviews
I hereby notify you of my decision to terminate the contract relating to the Kotak Insurance service.
This notification constitutes a firm, clear and unequivocal intention to cancel the contract, effective at the earliest possible date or in accordance with the applicable contractual period.
Please take all necessary measures to:
– cease all billing from the effective date of cancellation;
– confirm in writing the proper processing of this request;
– and, if applicable, send me the final statement or balance confirmation.
This cancellation is addressed to you by certified e-mail. The sending, timestamping and content integrity are established, making it a probative document meeting electronic proof requirements. You therefore have all the necessary elements to proceed with regular processing of this cancellation, in accordance with applicable principles regarding written notification and contractual freedom.
In accordance with personal data protection rules, I also request:
– deletion of all my data not necessary for your legal or accounting obligations;
– closure of any associated personal account;
– and confirmation of actual data deletion according to applicable privacy rights.
I retain a complete copy of this notification as well as proof of sending.
Important warning regarding service limitations
In the interest of transparency and prevention, it is essential to recall the inherent limitations of any dematerialized sending service, even when timestamped, tracked and certified. Guarantees relate to sending and technical proof, but never to the recipient's behavior, diligence or decisions.
Please note, Postclic cannot:
- guarantee that the recipient receives, opens or becomes aware of your e-mail.
- guarantee that the recipient processes, accepts or executes your request.
- guarantee the accuracy or completeness of content written by the user.
- guarantee the validity of an incorrect or outdated address.
- prevent the recipient from contesting the legal scope of the mail.
Cancellation Kotak Insurance: Easy Method
What is Kotak Insurance
Overview
Kotak Insurance refers to life and group insurance products offered through Kotak entities, including retail life insurance plans and group covers sold via Kotak Bank channels. Products include term plans, ULIPs, return-of-premium plans and group accident/group protection policies.
Scope
Policies are sold through branches, agents and online portals. Cancellation and surrender rules depend on product type (individual life plan vs group cover) and contract terms.
How to cancel Kotak Insurance
Cancel during free-look
If you are within the free-look period you may cancel by submitting a cancellation request to the insurer for a refund (subject to deductions). Free-look is typically 30 days from delivery of the policy document.
Standard cancellation / surrender
- Obtain and complete the insurer’s surrender form (available at Kotak branches or on request).
- Submit the original policy document and valid ID proof at a Kotak branch or send them to the insurer as instructed.
- Provide a cancelled cheque or bank statement to initiate refund to the correct bank account.
- Include any required KYC details and a signed request; retain acknowledgement for your records.
- For group covers, follow the specific product instructions; some group policies allow full refund if cancelled within 30 days.
What happens when you cancel
Access and coverage
Coverage ceases as per policy terms once the insurer processes the cancellation or surrender. Confirm the effective cancellation date in the insurer’s acknowledgement.
Policy records and renewal
Your policy file will be closed or marked surrendered. If premiums were unpaid prior to cancellation, outstanding dues may affect surrender value or processing.
Will I get a refund?
Free-look refunds
If cancelled within the free-look period you are typically entitled to a refund of premiums after deductions for medical check-up charges, proportionate risk premium for coverage period and stamp duty.
Surrender and exceptions
Term insurance generally does not provide surrender value unless the product explicitly includes return-of-premium or single/limited pay features. Group Accident Protect often allows full refund if cancelled within 30 days.
Refund processing for free-look cancellations follows IRDAI timelines and is usually completed within seven days of receipt of the request by the insurer.
Kotak Insurance plans and pricing
Pricing summary
The table below lists illustrative example premiums and features drawn from publicly available examples. Actual premiums vary by age, health, sum assured and modal frequency.
Note about figures
Figures are indicative examples and exclude GST unless stated. Contact Kotak for a precise quote for your circumstances.
| Plan | Price | Period | Features |
|---|---|---|---|
| Kotak e-Term (Term Life) - 1 Crore example | ₹15/day (approx ₹5,400/year) | Annual | Term plan; example for a healthy 18‑year‑old male, non‑smoker; online discount up to 7.5% |
| Kotak Gen2Gen Protect - Return of Premium ULIP | ₹3,529/month (~₹42,348/year) | Monthly / Annual | 1 Crore cover with return of premiums at maturity; 10‑year pay term |
| Kotak Assured Savings Plan | ₹10,000/month (~₹120,000/year) | Monthly / Annual | Savings plan with guaranteed additions; 10 years pay, 20 years policy |
| Kotak SmartLife Plan (Savings & Investment) | ₹19,505/year | Annual | Minimum premium for 15‑pay term |
| Kotak Platinum (ULIP) | ₹8,250/month; ₹24,750/quarter; ₹49,500/half‑yearly | Monthly / Quarterly / Half‑Yearly | Unit‑linked ULIP with multiple premium modes |
| Kotak Group Secure One (Group Insurance) | ₹1,153/year | Annual | Low‑cost group protection; premium varies by age and gender |
| Kotak Group Smart Cash (Group Insurance) | ₹2,400/year (including taxes) | Annual | Group insurance product with flat yearly premium including taxes |
Your consumer rights in India
Free‑look and refunds
IRDAI grants a free‑look cancellation right (typically 30 days) from receipt of the policy document, with refund after permitted deductions.
Service timelines and escalation
IRDAI‑mandated TATs require free‑look refunds to be processed within seven days. Surrender or partial withdrawal TATs are also prescribed.
Surrender value rules
Surrender value applies only to eligible policies (single pay, limited pay, return‑of‑premium, ULIPs). Standard term covers normally have no surrender value.
Ombudsman and complaints
If your grievance is not resolved you may escalate to the insurer’s grievance officer, Ombudsman or consumer courts. Keep written records and acknowledgements when escalating.
Customer experiences
Positive feedback
Some customers appreciate traditional plans for competitive coverage, reasonable premiums and timely claim service in positive reviews on distribution platforms.
Negative feedback
Other consumers report issues such as delays in surrender refunds, communication gaps and cases requiring escalation for resolution. Read multiple sources before deciding.
Documentation checklist
Essential documents
- Completed surrender/cancellation form (signed).
- Original policy document.
- Valid photo ID (Aadhaar, PAN, passport, etc.).
- Cancelled cheque or bank statement for refund account verification.
- Any KYC documents requested by the insurer.
Optional/supporting documents
- Proof of premium payments (receipts) if available.
- Correspondence or acknowledgement of previous communications with the insurer.
Common mistakes
Missing or incomplete forms
Sending an incomplete surrender form or missing signatures delays processing. Always use the insurer’s current form and sign where required.
Wrong bank details or missing ID
Providing incorrect bank account details or failing to enclose valid ID will hold up refunds. Double‑check account numbers and attach a cancelled cheque.
Comparative recap
Key comparisons
The table below highlights practical differences customers commonly care about when cancelling or surrendering Kotak policies.
How Kotak typically performs
| Feature | Kotak Insurance (what to expect) |
|---|---|
| Free‑look period | Typically 30 days from receipt of policy document; refund after permitted deductions |
| Free‑look refund TAT | Refund processing usually completed within 7 days of receipt (IRDAI TAT) |
| Online cancellation | No fully online cancel via portal/app for most life policies; branch or physical submission required |
| Surrender value on term plans | Term plans generally have no surrender value unless specifically designed with return‑of‑premium |
| Group policies | Some group covers (e.g., Group Accident Protect) allow full refund if cancelled within 30 days |
After cancelling
What to monitor
Retain the insurer’s acknowledgement and monitor your bank account for the refund. Note the effective cancellation date for records and tax purposes.
Where to get help
For product‑specific cancellation FAQs consult the insurer’s help pages and third‑party policy details; for example the Kotak group accident cancellation FAQ and a policy overview page:
Address
Registered office
8th Floor, Plot C‑12, G‑Block, Bandra (E), Mumbai 400051, India.
Notes
Send physical surrender requests or grievance escalation correspondence to the insurer’s registered or grievance officer addresses as specified in your policy document.