A policyholder can pay his/ her premiums via the following mediums:

a) Cheques: All premium cheques should be in the name of "Kotak Mahindra Old Mutual Life Insurance Ltd – Policy No. ________.". The cheques can be deposited at any of the following:

• Kotak Life Insurance Branch offices or Customer Service Officer ,Raghuvanshi Mills Compound, Krishna House, 2nd floor, Senapati Bapat Marg, Lower Parel(W), Mumbai 400013, India.
• Premium cheques can also be dropped at any of the Skypak drop boxes in specific cities.

b) Cash: All premium cash payments should be made either at any of the Kotak Life Insurance Branch offices or sent to a Customer Service Officer at:

Kotak Mahindra Old Mutual Life Insurance Ltd.
8th floor, Godrej Coliseum,
Behind Everard Nagar,
Sion (E), Mumbai - 400 022

c) Electronic Clearing Service (ECS): An extremely convenient service, ECS enables you to pay your insurance premiums directly from your bank account at no additional cost.

ECS also:

• Relieves you from remembering your premium due dates
• Relieves you from periodic issuing and depositing cheques
• Helps you to pay your premium on the due date and ensure that your policy does not lapse

At present, this facility is available in the following cities for any banks

d) Online Payment: Premium payment has never been more convenient and simpler for you. Online Payment is an initiative to help you pay renewal premiums with a few clicks and that too anytime and anywhere.

This service does not require any registration and is available PAN India to all Kotak Life Insurance policy holders. However you need to have a valid online banking account with any of these banks: Bank of India, Centurion Bank of Punjab, Citibank, HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India, Union Bank of India and UTI Bank

Click here to pay now

How does AutoPremium work?
Before the due date you will receive a payment reminder from Kotak Life Insurance. You will also receive a reminder (from www.billdesk.com) on your email, a week prior to the premium due-date.

AutoPremium gives you the option to pay your renewal premiums conveniently, through following modes of payment-

• Electronic Clearing Service (ECS) -You mandate us to automatically pay your renewal premiums by debit to a bank account specified by you, on the due date.
• Internet Payment - You specify an email address where we will send you the premium reminder. You then log on to www.billdesk.com where you can view and authorize your renewal premiums payment by debit to a bank account specified by you.
  In case of ECS, on the premium due date, the amount will be debited from the account specified by you. In case of internet payment, you will have to log on to the website mentioned above and authorize the payment on the website. Only upon authorization, your account will debited to the extent of the premium amount.

Once the premium is deposited, you will receive a receipt for the premium paid both from Kotak Life Insurance as well as from www.billdesk.com (to customers who have provided their e-mail addresses).

About Billdesk.com
To provide you with AutoPremium, we have partnered with www.billdesk.com, a property of India Ideas Ltd. com. Billdesk is a bill presentment and payment site.


How do I know if AutoPremium has been enabled?
Upon activation of AutoPremium, you will receive a Welcome Kit from www.billdesk.com providing you with a customer ID and password. Activation of AutoPremium would generally take a week's time after receipt of your completed application by Kotak Mahindra Old Mutual Life Insurance Ltd.


Do I need to fill in different forms for each policy that I have from Kotak Life Insurance?
No. You can authorize AutoPremium on three policies on one form (Provided you want to debit the premiums to all these policies from the same bank account.) In case you wish to use different bank accounts for each/ any policy, you need to fill in separate form. Also, for all these policies mentioned in the same form, you should choose one of either ECS or Internet as your preferred mode of payment.


As per the policy contract, am I still entitled to 30 days grace period?
Yes. AutoPremium also entitles you to 30 days grace period for paying your premiums.


What do I do in case I want to make some changes like :

• Change my premium payment mode from/to quarterly/ half yearly/ yearly? · Exclude one of the policies from AutoPremium mode
• Change my bank account details
• Change email address
• Change any other facts disclosed in the AutoPremium form

While you opt for AutoPremium, you still have the above mentioned flexibility. All you have to do is write to us with the following details:

• Client ID
• Policy Number
• Change you wish to incorporate

Any change / alteration in the payment mode, bank account details, address, etc need to be informed to Kotak Life Insurance atleast 30 days before the next premium due date. The changes will become effective from the day the customer receives an acknowledgement from Kotak Life Insurance.

How do I avail of AutoPremium?
To avail of AutoPremium, kindly fill in the AutoPremium form enclosed herewith and hand it over to your Life Advisor. You can also deposit the form at any of our branches or send it to the address mentioned below.

While you avail of AutoPremium, please note the following:

• For Income Tax purposes, you will need to produce the premium receipt sent to you by Kotak Life Insurance. The premium receipt sent by www.billdesk.com does not serve this purpose. Hence please preserve the receipt sent by Kotak Life Insurance.
• This facility is currently available in 8 cities namely :
  Mumbai, Pune, Delhi, Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata

For any queries, please feel free:

• To write to us at clientservicedesk@kotak.com
• Call our Customer Contact Centers
• To contact your Life advisor or the local Kotak Life Insurance branch office for details.
• Please mail all correspondences to:
  Client Servicing - AutoPremium,
  Kotak Mahindra Old Mutual Life Insurance Ltd.,
  8th floor, Godrej Coliseum,
  Behind Everard Nagar,
  Sion (E), Mumbai - 400 022
  

Terms and Conditions
























Terms And Conditions

The AutoPremium payment facilities ("facilities") are offered by Kotak Mahindra Old Mutual Life Insurance Ltd. ('Company) under arrangement with the BillDesk Statement Presentment and Payment Service of IndiaIdeas.com Limited ('the Service') and are subject to the following terms and conditions:

1. These terms and conditions form an unconditional agreement between the Policyholder and the Company and/or the Service. By exercising the option to avail the facilities, the Policyholder acknowledges having understood and accepted these terms and conditions.
   
   
2. By opting for the elected facility/facilities, the Policyholder elects to make the payment of renewal premiums to the Company from the Policyholders' Bank Account through the Service or any other payment utility site that the Company may tie up with from time to time.
   
   
3. On the Policyholder electing the option/mode to pay the renewal premiums, the same, unless revoked and/or modified by him/her subsequently by a 30 days prior written notice to the Company , shall be valid and binding on the Policyholder. The Policyholder agrees that he/she shall remain liable for all the instructions and transactions that have been submitted by him/her or processed under his/her account prior to the date of Policyholder obtaining Company's acknowledgment to the said Notice.
   
   
4. The Company would be entitled, at its sole discretion, to seek offline written or other confirmation from the Policyholder on renewal premium payments as it may in its discretion deem fit.
   
   
5. The records of the Company and/or the Service, on the renewal premium payments, maintained through computer systems or otherwise, shall be accepted as conclusive and binding for all purposes and shall be conclusive proof of the genuineness and accuracy of the same and binding for all purposes and can be used as evidence in any proceedings.
   
   
6. The Policyholder acknowledges that he/she is eligible to avail the facilities and agrees to provide true, accurate, correct and complete information as required by the Company and to keep the same updated and current at all times.
   
   
7. The Policyholder agrees that the facilities will be available to him/her, subject to and upon receipt of confirmation by the Company and/or the Service from the Policyholders' bank of the details furnished by him/her in this application.
   
   
8. The Policyholder agrees that it shall solely be his/her responsibility to schedule his/her renewal premium payments in a manner that the Company receives the renewal premiums within the due dates as specified in the relevant Policy Contract(s) and that in the event of a late payment he/she shall be liable for the late payment charges and other consequences as may be enforced by the Company.
   
   
9. The Policyholder expressly understands and agrees that if two (2) successive payments/instructions in case of quarterly premium payment mode or any one (1) payment/instruction in case of half yearly /yearly premium payment mode, are not received/honored, the Company reserves the right to automatically cancel/withdraw the facilities forthwith without notice.
   
   
10. The Policyholder further agrees that the Company and/or the Service will not be responsible or liable if it is unable to effect any of his/her payment instructions owing to (a) incomplete, inaccurate, invalid or delayed submission of details by Policyholder (b) insufficient funds to cover Policyholder's transactions (c) encumbrance or charge on Policyholder's account or (d) events beyond the control of the Company and/or the Service
    
    
11. The Policyholder expressly understands and agrees that the Company and/or the Service disclaims all warranties of any kind whether express or implied including without limitation any representation or warranty regarding the use of the result of the facilities in terms of its correctness, accuracy, reliability usefulness, completeness, continuity uninterrupted access, timeliness or otherwise. Policyholder expressly understands and agrees that he/she assumes total responsibility and risk for his/her access and use of the facilities.
    
    
12. The Policyholder expressly understands and unconditionally agrees that he/she will not hold the Company and/or the Service liable for any direct, indirect, punitive, incidental, special or consequential damages whatsoever, including but not limited to damages or losses resulting from (a) the use or performance or inability to use or non-performance of the facilities (b) the provision of failure to provide the facilities (c) the unauthorised access to or alteration of the transmission or data (d) such transactions that are carried out on the Policyholder's instructions in good faith (e) any loss or damage incurred or suffered by the Policyholder due to any defect, error, failure or interruption in the provision of the facilities or (f) any other matter related to the facilities.
    
    
13. The Policyholder agrees that the Company and/or the Service may from time to time make alterations, additions or deletions to these terms and conditions and that these shall be binding upon Policyholder and take effect from such date as may be intimated by the Company and/or the service. The Policyholder further agrees that he/she shall be deemed to have agreed, accepted and be bound by such altered terms and conditions.
    
    
14. The Policyholder agrees that in event he/she is dissatisfied with any portion of the facilities or with any of the terms and conditions or alterations thereto, his/her sole and exclusive remedy is to discontinue the use of the facilities.
    
    
15. The Policyholder agrees that the laws of India shall govern this Agreement and in case of a dispute the matter will be settled as per the provisions of The Arbitration and Conciliation Act, 1996 and within the exclusive jurisdiction of the courts of Mumbai.
    
    
16. The Policyholder agrees that he/she shall not use the facilities for any purpose that is unlawful or prohibited by these terms and conditions.
    
    
17. Notwithstanding what is mentioned herein above, it is understood that the Company is extending such facilities to make it convenient for and facilitate the Policyholder to pay the renewal premiums and it is further acknowledged that the onus and liability to make such payments within the due dates specified in the relevant Policy Contract(s) vests solely and absolutely with the Policyholder.