Kotak Life Insurance Online Premium Payment

Kotak Life Insurance is one of the most reputed insurance companies in India. It is known to provide a plethora of insurance products depending on the various needs of its customers. You can easily purchase an insurance plan of your choice by visiting the official website of the insurance company. In order to enjoy the benefits of your insurance plan, you will have to pay your premiums on a timely basis.

You can easily pay your premiums by visiting the official website of Kotak Life Insurance. You can choose different modes of payment in order to pay the premiums online. We will have a look at some of the methods that you can use in order to pay your premiums.

Different payment modes through which you can pay your premiums

There are different types of payment modes through which you can pay your premiums and enjoy the benefits of your insurance policy.

Payment through National Electronic Transfer Fund (NEFT)

You can pay your premiums via NEFT by logging into net banking of your bank account and selecting the NEFT option. The details of the beneficiary to which you will have to send the premium amount are given below in the table below:

Beneficiary account number	99800KLIFExxxxxxxx (The number after KLIFE will be your 8-digit policy number)
Type of account	Current Account
Name of the beneficiary	Kotak Mahindra Life Insurance Company Limited
IFSC Code	KKBK0000631
Name of the bank	Kotak Mahindra Bank
Name of the branch	MUMBAI KALINA

Payment through Credit Card

You can use your credit card details to pay your premiums. The process of how you can pay your premiums via your credit card is given below:

Credit card payment on website

• Visit the link https://mykotaklife.com/PayConnect/opc/opc/redirection.aspx
• Click on ‘Proceed Directly’. You can also use the ‘Sign In’ option by entering your username and password. If you do not have your login credentials, you can get it by clicking on ‘Register’ and later use the credentials to login to the portal and pay your premiums.
• After you click on ‘Proceed Directly’, you will be directed to a new page.
• You will need to provide certain details by entering your name, policy number, mobile number, and email-ID. You will have to enter any one of the details i.e. your client id, date of birth, or the premium amount payable.
• Click on ‘Submit’.
• You will then have to enter the details of your credit card. It must be noted that you can only use either a Mastercard or a Visa credit card.
• You will receive a One Time Password (OTP) on your registered mobile number. Enter the OTP and click on pay. The required premium amount will be paid via the credit card.

Credit card payment at branches

You can visit the nearest Kotak Life Insurance Co Ltd branch in order to pay your premium by using your credit card. If you have opted to pay your premiums via credit card, it is important that the credit card has been issued only in your name.

Payment through Debit Card

You can pay your premiums by using your debit card. The process to pay your premiums using your debit card is given below:

• Visit the link https://mykotaklife.com/PayConnect/opc/opc/redirection.aspx
• Click on ‘Proceed Directly’ following which you will be directed to a separate page. You can also use the ‘Sign In’ option by entering your username and password. If you do not have your login credentials, you can get it by clicking on ‘Register’ and later use the credentials to login to the portal and pay your premiums.
• You will need to provide certain details by entering your policy number, name, mobile number, and email-ID. You will have to enter any one of the details i.e. your date of birth, client id, or the premium amount payable.
• Click on ‘Submit’.
• You will then have to enter the details of your debit card.
• You will receive a One Time Password (OTP) on your registered mobile number. Enter the OTP and click on pay. The required premium amount will be paid via the debit card.

You can use the Visa debit card of the following banks to pay your premiums:

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

Paying premiums via internet banking

You can pay your premiums by using the internet banking facility. The steps on how you can pay your premiums using the internet banking facility are given below:

• Visit the link https://mykotaklife.com/PayConnect/opc/opc/redirection.aspx
• Click on ‘Proceed Directly’ following which you will be directed to a separate page.
• You will need to provide certain details by entering your policy number, name, email ID, and mobile number. You will have to enter any one of the details i.e. your date of birth, premium amount payable, or your client id.
• Click on ‘Submit’.
• You can initiate the payment of your premium using your internet banking details.

You can pay your premiums using the internet banking facility of the banks given below:

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

Premium payment through ‘Immediate Payment Service’ (IMPS) facility

Given below are the steps that you will have to follow if you wish to pay your premium using the IMPS facility:

• Onetime enrollment: You can ask your respective bank to help you enrol for Mobile Bank Service and register for the IMPS service. You will be provided a Mobile Money Identifier (MMID) and an MPIN (Password to be used for mobile transaction).
• One-time installation: You will be required to install the Mobile Banking Application of your respective bank on your mobile phone.
• Easy payments: Click on ‘Merchant Immediate Payment Service’ (IMPS) and enter the details given below to pay your premiums:
• Merchant Mobile No : 9769554433 Merchant MMID: 9485784
• Payment Reference: <8 Digit Policy No>
• Amount: Enter the premium amount payable
• MPIN: This will be provided to you by your bank

You will receive an instant confirmation on your mobile phone once the payment has been completed.

Below given are the list of banks which provides IMPS facility:

• A P Mahesh
• Axis Bank
• Andhra Bank
• Corporation Bank
• Canara Bank
• Dombivli Nagari Sahakari Bank
• Federal Bank
• HSBC
• ICICI Bank
• Kotak Mahindra Bank
• Karur Vysya Bank
• Oriental Bank of Commerce
• Punjab National Bank
• Punjab & Maharashtra Co. Op Bank
• State Bank of India
• The Greater Bombay Co-operative Bank
• Union Bank of India
• Yes Bank

Payment of your premium through ‘Bill Desk’ facility

You can pay your premiums using the ‘Bill Desk’ facility by following the steps give below:

• Log on to www.billdesk.com and register if you are a new user. If you are an existing user, you can use your credentials to login.
• Select Kotak Mahindra as your biller from the list given in the options.
• Enter the details as asked and pay the premium amount.

Payment of premium through ‘Electronic Bill Payment’ service

You will have to register yourself for the Electronic Bill Payment facility by contacting your respective bank. Once you have registered, you will have to select Kotak Mahindra Insurance Co Ltd as the biller. You can then log in to your netbanking account and pay the premium amount payable.

Some of the banks which provide this facility are:

ING Vysya Bank

Kotak Mahindra Bank

IndusInd Bank

State Bank of India

HDFC Bank

Union Bank of India

Bank of Maharashtra

You can visit the official website of the Kotak Mahindra Life Insurance Co Ltd to check the list of banks who provide this facility.

Payment of premiums through ‘Direct Debit’ facility

You can use the ‘Direct Debit’ facility to pay your premiums if you have a bank account with any one of the banks given in the list below:

• Axis Bank
• Allahabad Bank
• Bank of India
• Bank of Baroda
• CITI Bank
• Federal Bank
• ICICI Bank
• IDBI Bank
• Karnataka Bank
• Kotak Mahindra Bank
• State Bank of India
• Union Bank of India
• United Bank of India

Payment of premiums using ‘Standing instruction’ facility

You can direct your respective bank to auto debit the premium amount from your bank account on the due date. You can avail this facility if you have a bank account at HDFC Bank and Kotak Mahindra.

You will be required to submit a standing instruction form filled duly by you. Once the form is verified, you will be eligible to use this facility. You can submit the form at any of the Kotak Mahindra branches or send it to the address given below:

Kotak Mahindra Life Insurance Company 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

Payment of premiums using the Electronic Clearance Services (ECS)

This facility can be extremely convenient for you as the premium amount is automatically auto-debited from your bank account on the date on which the premium is to be paid. The ECS facility provided by Kotak Life Insurance is available in 81 locations. All you need to do is submit a duly-filled ECS form along with a cancelled cheque at any of the Kotak Life Insurance branches or send it via mail to the address given below:

Kotak Mahindra Life Insurance Company 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

Payment of premiums using offline methods

There are some offline methods that you can use to pay your premiums. Some of them are mentioned below:

• You can drop your cheques mentioning the premium amount at any of the Kotak Mahindra ATM drop boxes. The cheque must be drawn in the favour of "Kotak Life Insurance Policy Number XXXXXXX" and your full name, address, and phone number must be mentioned behind the cheque.
• You can also pay your premiums via cash/demand draft/cheque by visiting the nearest Kotak Life Insurance branch near you.
• You can also pay the premium by using the ‘money order’ facility.
• You can avail the ‘Bank Guarantee’ facility which states that in any event of you failing to clear the financial liabilities, the bank ensures that the contractual obligations are met and thus the bank promises to pay the beneficiary on behalf of you. You can use this facility to pay your premium.

Hence, these are some of the methods that you can use to pay your premiums if you have purchased an insurance plan from Kotak Life Insurance Company.