Claim Settlement Ratio 97%
Claim Settlement Facility 100%
COVID-19 Cover Yes
Network Hospitals 7000
Incurred Claim Ratio 48.21%
Kotak general insurance company was incorporated in the year 2015 after receiving the general insurance license from the Insurance regulatory and development authority of India. Kotak general insurance company is a 100% subsidiary of India’s fastest growing bank, Kotak Bank. Kotak general insurance was incorporated to provide non-life insurance solutions to the customers. The company is headquartered at Mumbai and operates all over India.
The maximum and minimum entry age under this plan is 18 years and 65 years with lifelong renewability. Kotak Secure shield offers 4 major benefits which are mentioned below:-
Kotak health insurance plan provides up to 10% no claim bonus on the base sum insured for every claim free year up to a maximum of 50% of the basic sum insured. In case of a claim the no claim bonus would be reduced in the same proportion it was increased before the claim.
The network hospitals provide cashless claim settlement facilities to the insured customers. In case of reimbursement claims in a network hospital the insurance companies would deduct a certain amount in the form of co-payment. The co-payment would be applicable if the insured is going for reimbursement claim in a network hospital. The insured customer would be asked to justify the reason behind going for a reimbursement claim settlement option when there is a cashless facility option.