Kotak General Insurance

Key Features

Claim Settlement Ratio 97%

Renewability 100%

Claim Settlement Facility 100%

COVID-19 Cover Yes

Network Hospitals 7000

Incurred Claim Ratio 48.21%

About Kotak General Insurance

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.


Kotak health insurance plans

Kotak Secure Shield

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:-

  • Critical illness benefit under which the insurance company would pay the entire lump sum amount on diagnosis with any of the mentioned critical illnesses. The claim proceedings can be utilized to avail the treatment for critical illness.
  • Personal accident benefit under which the company would pay a lump sum amount in case of an event such as death or permanent total disability of the insured due to an accident. The claim amount would be paid to the family members in case of occurrence of an event due to an accident.
  • Child education benefit in which the insurance company would ensure that the child of the insured would get access to continued education in case of demise of the insured due to critical illness or permanent total disability of the insured due to an accident.
  • Loss of job benefit due to illness or accident in which the policy would provide financial support with an amount equal to 3 EMIs against a declared loan.

Benefits of Kotak health insurance

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.

Key Statistics

  • 97% claim settlement ratio for the FY 2021-22
  • 66+ Lakhs customers served till date


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.