Kotak Mahindra Health Insurance

Kotak Mahindra Health Insurance provides several health insurance plans to the Indian customer with an eclectic choice. Family Floater cover, in addition to Top-up options, Kotak Mahindra Health Insurance has all in its portfolio to be a one-stop called Kotak Medical Insurance.

What is Kotak Mahindra Health Insurance?

It is a bouquet of health insurance plans, designed by Kotak Mahindra General Insurance, a wholly-owned subsidiary of Kotak Mahindra Bank, a leading private sector bank in the country.  When it comes to purchasing of Health Insurance Policy, credential of the insurer is an important factor for the choice. With Kotak Health Insurance, there is no such worry, due to the sound ethos of the sponsor driving its operations. Kotak Health Insurance has its headquarters in Mumbai and has so far established 13 branch offices pan India, apart from the wide presence of its Principal. The insurer also boasts of a partner network of 4000+ Network Hospitals, ever ready to provide a seamless experience to the insured through cashless hospitalization, both in case of planned and emergency medical contingencies. 

Why Choose Kotak Mahindra Health Insurance?

Kotak Mahindra Health Insurance aims to provide solutions to a wide cross-section of society with a customer-centric business model with the support of the state of the art technology and digital infrastructure. The wide array of health insurance plans in their portfolio is testimony to their commitment to quality and innovation to satisfy the preferences of a wide segment of customers not bound by geographical boundaries within the country.

Very similar to the adage, the proof of the pudding is in the eating, so is the case with Kotak Health Insurance when it comes to features of coverage, claim settlement and overall customer experience, they are second to none.  Thus, they have health insurance plans to meet every demand of Indian citizens be it Individual, Family Floater and Individual with family members included in the single policy. To top it, there are Kotak Health Insurance Plans for the discerning, dedicated for a specific illness, top-up and the standard as defined by IRDAI. All these, coupled with a robust Customer Care mechanism, make Kotak Health Insurance a worthy protection tool for self and family alike. 

Features of Kotak Mahindra Health Insurance

Kotak Mahindra Health Insurance has several plans in different flavours to suit individual preferences. Some of the innovative features that make it extremely attractive for purchase are:

• Comprehensive health insurance for the entire family and dependents.
• Wide range of sum insured to choose from
• Cashless in-patient hospitalization in 4000+ Network Hospitals.
• Pre and Post Hospitalization, Daycare medical expenses are covered.
• Maternity benefit with cover for the newborn and vaccinations
• Cover for Critical Illness and Personal Accident
• With a digital infrastructure in place, Kotak Health Insurance needs minimal documentation and paperwork
• Kotak Mahindra Health Insurance Renewal and purchase is instant and hassles free in the online mode
• Lifelong renewability of Health Insurance plans
• Choice of policy terms of 1, 2 and 3 years
• Smooth and seamless claims settlement procedure
• Covers coronavirus with 2 newly introduced plans namely Corona Kavach and Corona Rakshak
• Other benefits include:
• Restoration of sum Insured.
• Cumulative Bonus
• Annual Health Check-up
• Organ Donor Cover
• Alternative Treatment cover
• Hospital daily cash
• Convalescence
• Home Nursing
• Daily Cash Allowance for accompanying Insured child
• Air ambulance

Benefits of Kotak Mahindra Health Insurance:

With Kotak Health Insurance, one is not only assured plans with varied coverage features but also round the clock support for availing hassle-free services. All these and much more are availed hagainst affordable premiums and benefits that allow savings both in the premium, and tax liabilities.

• Savings on Policy Term: Depending on the choice of the policy term, 2.5% for a 2-year term and 5% for a 3-year term is an additional saving on premium.
• Savings on Member Insured: For 2 eligible members in a policy, the saving is 2.5%, whereas it is 5% for more than 2 members.
• Savings for Cross-Selling: If an insured has a live policy, the saving is 10%
• Saving on Tax: As per provisions of the Income Tax Act, 1961, the premium paid for Health Insurance Policies in a Financial Year is tax-deductible under Section 80D. The quantum of savings is Rs.25000 for those below 60 years of age and Rs.50000 for Senior Citizens.

**Tax benefit is subject to changes in tax laws.

**All savings offered by the insurer are as per the IRDAI approval. Standard T&C apply.

Types of Kotak Mahindra Health Insurance

Having learnt about the classification of health insurance plans, Kotak Mahindra dishes out the following in both the classes.

• Kotak Health Care
• Kotak Health Premier
• Kotak Arogya Sanjeevani Policy
• Kotak Accident Care
• Kotak Health Super Top Up
• Kotak Secure Shield

Comparison of Kotak Mahindra Health Insurance

On learning the different types of Kotak Health Insurance Plans on offer, it is not out of place to compare plans in different genres to help the customer have a picture of the features at a glance. It not only will help in shortlisting the desired health insurance plan of choice, but also match with an individual health profile.

The purpose of the below grid is to display the salient features and covers available in each of the listed Kotak Health Insurance Plans at a glance comprehension. The customer will have to compulsorily build up on it by going through the detailed description to follow in due course.  

• 
  Initial: Every Health Insurance Plan comes with an initial waiting period of 30 days from the date of commencement of risk, during which no claim is admissible for hospitalization, other than that arising out of an accident. In the case of Critical Illness, the initial waiting period, whether for add-on or specific, is 90 days.
• Specific Diseases: There are a few commonly occurring diseases like Hernia, Hydrocele, Cataract, etc., which are not fatal but need surgical intervention in hospital. These have to wait for 24 months from the date of commencement of health risk to be admitted for hospital or daycare treatment as valid claims. The customer must check the list of diseases in either the policy schedule or the policy document.
• Pre-existing Diseases: Any insured may be suffering from diseases while purchasing a suitable health insurance plan. Utmost transparency is needed as these have to be declared in the proposal form to enjoy cover after a waiting period of 48 months. If they are not declared as such at inception, not only claim repudiation is a distinct possibility, even renewal may be denied under the clause of non-disclosure.

Permanent Exclusions:  There are a host of conditions that are permanently excluded from cover either in the base policy or the add-on options. They are:

• Treatment of self-inflicted injury or attempted suicide
• Treatment of congenital defects
• Cosmetic or plastic surgery other than those medically necessary for survival
• Any STD or treatment ailments like HIV, AIDS etc.
• Treatment of mental disorders
• Injuries caused by indulgence in extreme or adventure sports
• The outcome of substance or drug abuse, intoxicants or alcoholism
• Participation in illegal or criminal activities
• War or warlike perils, including terrorism
• Nuclear, Radioactive, Biological, Chemical contamination or similar perils

*The list is not exhaustive and is recommended that the customer consult the prospectus or the policy document for further information

Kotak Health Care

This plan caters to a wide range of customers who are keen to protect themselves with financial cover without compromising on the quality of treatment. Keeping in view the broad spectrum of targeted customers, the plan offers two variants to choose from.

• Plan Variants:
• Excel: Sum insured ranges from Rs 2 lakh to Rs 4 lakh.

Optional Covers:

• Daily Hospital Cash + donor expenses _ Convalescence Benefit
• Critical illness + Double SI for Hospitalization due to Accident
• Cap on Room Rent 

Policy Option: Individual and Family Floater 

• Premium: Sum insured ranges from Rs 5 lakh to Rs 25

Optional Covers:

• Daily Hospital Cash + Donor Expenses + Convalescence Benefit
• Critical illness + Double SI for Hospitalization due to Accident

Policy Option: Individual and Family Floater

• Prime: Sum insured ranges from Rs 10 lakh to Rs 1 cr.

Optional Covers:

• Daily Hospital Cash
• Donor Expenses
• Convalescence Benefit
• Critical illness
• Double SI for Hospitalization due to Accident
• Domiciliary Hospitalization
• Alternative Treatment
• Maternity Benefit
• New Born Baby cover
• Compassionate Visit
• Restoration of Sum Insured

Policy Option: Individual and Family Floater 

Features:

• In-patient Treatment in Hospital with a cashless facility in 4000+ Network Hospitals
• Daycare treatment in 150 listed procedures
• Pre Hospitalization cover for 30 days
• Post Hospitalization Cover for 60 days.
• Ambulance charges up to Rs1500 per hospitalization.
• Free health check-up for each insured over 18 years of age
• Cumulative Bonus for 10% at renewal for a maximum of 50% of SI. 

Kotak Health Premier

As the name suggests, it is a comprehensive health insurance plan that provides reward and value-added benefits for staying fit along with the customary protection to counter medical contingencies. 

Features

• Comprehensive in-patient cover for medical expenses
• Pre and post hospitalization expenses
• Daycare treatment for 405 procedures
• Domiciliary Hospitalization
• Ambulance expenses cover
• Organ Donor cover
• Alternative Ayush treatment.
• Restoration of 100% sum insured once in a policy year in case Cumulative bonus is inadequate
• Cumulative bonus for 50% or 100% as the case may be
• Annual health check-up for policyholders above 18 years of age.
• Second, E-opinion multiple times during the policy period.
• Hospital Daily Cash if stay exceeds 3 days
• Convalescence if the stay exceeds 10 consecutive days
• Home Nursing Benefit after discharge from hospital
• Compassionate Visit for close relative
• Maternity Cover with benefits clubbed with Maternity + Newborn Baby + Vaccination expenses for 2 years
• Air Ambulance Cover for life-threatening situations
• Co-payment based on treatment in classified Zones:
• Zone 1: 10% for a resident of Zone 2
• Zone 1: 20% for a resident of Zone 3
• Zone 2: 10% for a resident of Zone 3
• Reward points for preventive and Fitness Programs

Kotak Arogya Sanjeevani

It is a standard health insurance template introduced by IRDAI for rolling out by all the insurers operating in India with effect from April 1, 2020.

Features:

• Sum insured ranges from Rs1 lakh to Rs 5 lakh.
• Premium payment in instalments Half-yearly, Quarterly or Monthly basis.
• The Policy term is 1 year with lifelong renewability.
• Self, Spouse, Dependent children between 3 months to 25 years, Parents, Parents-in-Law can be covered in the Family Floater option,
• Up to 8 insurable persons are covered in a single policy in the individual policy option.
• Room rent entitlement is 2% of sum insured subject to a maximum Rs 5000 per day, while ICU charges are 5% of sum insured subject to a maximum of Rs 10000 per day.
• Inpatient Hospital and Daycare treatment expenses are covered.
• Pre and Post Hospitalization for 30 and 60 days covered up to the value of sum insured.
• Dental and Plastic surgery due to the outcome of disease or injury.
• Pre policy medical test is required if the insured is 61 years and above.
• Cumulative bonus of 5% for every claim-free year limited to 50% of the sum insured.
• Mandatory co-payment of 5% for all medical expenses.
• Modern treatment methods and use of advanced technology induce loss-sharing up to 50% of the sum insured.
• Sub Limits:
• Ambulance expenses to a maximum of Rs 2000 per hospitalization
• Ayush treatment cover-up to limit of sum insured.
• Cataract treatment up to 25% of sum insured, maximum Rs 40000

Kotak Accident Care

The policy is designed to cushion the outcome of accidents leading to permanent disability, thus robbing the insured of gainful income jeopardizing the life of the family.

Features:

• Accident Cover:
• It pays a lump sum amount in the case of the following
  • Death
  • Permanent Total Disability
  • Permanent Partial Disability
  • Temporary Total Disability for Weekly Benefit
• Other Covers:
  • Accidental Hospitalization Reimbursement
  • Accidental Hospital Daily Cash
  • Convalescence Benefit of a fixed sum of Rs10000 for a minimum hospital stay of 10 consecutive days.
• Optional Covers:
  • Permanent Total Disablement Improvement Benefit carried out in residence to support the daily life of the insured.
  • Children's Education Grant to ensure uninterrupted education of the child until 25 years of age.
  • Ambulance Charges
  • Carriage of Dead Body
  • Funeral Expenses 

Kotak Health Super Top-up

It is designed to substantially augment the sum insured cover of the base health insurance policy at a fraction of the original cost. With the provision of deductible, the plan can be taken even without a base policy. In other words, the sum insured in the Super Top-up comes into play only when the sum insured in the base plan is exhausted, or the deductible amount has been expended by the insured .

Features: 

• Comprehensive in-patient cover for medical expenses
• Pre and post hospitalization expenses for 30 days and 60 days covering all medical expenses.
• Daycare treatment for 405 procedures is covered.
• Ambulance expenses cover of Rs 2000 is offered.
• Organ Donor expenses in case of organ transplant are covered.
• Alternative AYUSH treatment costs up to Rs 50000 are covered.
• Restoration of 100% sum insured Cumulative bonus for a maximum of 50%.
• 10% increase of sum insured for every claim-free year up to a maximum bonus of 50%.

6. Kotak Secure Shield 

The plan covers expenses related to Critical Illness, which practically needs both short term as well as long term health management, resulting in a perpetual financial drain on the suffering patient. In the event of the first diagnosis of any of the listed critical illnesses, the sum insured is paid in a lump sum to enable meeting medical expenses and other liabilities in tune with emergent requirements.  

Features:

• Comprehensive Critical Illness Cover: The plan covers for 18 listed Critical Illnesses. Upon diagnosis and medical emergencies arising out of such disease, the sum assured is disbursed in a single transaction in a lump sum to cater to the needs of the insured, regardless of the expenses incurred.
• Personal Accident Benefit: The sum insured is disbursed in case of death or permanent disability to help stabilize the financial needs of the family.
• Child Education Benefit: In case of demise or permanent total disability, the education of the child is ensured through this cover.
• Loss of Job Benefit: It happens many a time when critical illness may result in loss of a job as the insured may not be in a position to continue with gainful employment. This policy takes care of such an eventuality.

Corona Kavash Policy

Corona Kavash is an indemnity based standard health insurance policy introduced by IRDAI to cover the treatment expenses related to coronavirus. The policy features are unique and specially designed to cover coronavirus. 

Features:

• The policy covers hospitalisation expenses incurred due to coronavirus treatment.
• The policy sum insured can be chosen as individual or floater basis.
• The policy can be availed for tenures such as three and a half months, six and a half months, nine and a half months.
• There is no capping imposed for room rent while hospitalized.
• The sum insured options range from Rs 50,000 to 5,00,000.
• A hospital cash benefit up to 0.5% of the sum insured is offered per day.

Corona Rakshak Policy 

Corona Rakshak is defined-benefit based policy that covers corona test-related expenses.  The policy comes in handy in covering the expenses while someone is corona positive and requires to be hospitalized.

Features:

• The policy sum insured ranges from Rs 50,000 to 2,50,000.
• A lump sum amount is paid upon corona positive testing or hospitalisation.
• The policy is available for any person between the age 18 years to 65 years.
• The sum insured can only be availed as individual basis.

Eligibility Criteria to Buy Kotak Mahindra Health Insurance

As the first step towards an informed decision, it is worthwhile to check for eligibility norms. The below grid defines the minimum and maximum entry ages in the different listed pans. The exit age is important, and it signifies how long the insured will remain covered. It is heartening to note that Kotak Health Insurance offers Lifelong renewability in all its plans.

How to Buy Kotak Mahindra Health Insurance? 

Being a fully owned subsidiary of Kotak Mahindra Bank, the entire network of the bank, as well as the branch offices of the insurer, are geared for the purchase of suitable Kotak Mahindra Health Insurance Plan. There are primarily three options for the purchase of the policy- through Agent, visiting the insurer or Bank Office and by far the most popular, online at the official portal of Paisawiki.com.  Thus, the purchase mechanism can be broadly classified as offline and online.  

Offline: The Agent or an authorised expert from the insurance company will explain the features and benefits of the plan for the customer to select. The premium can be paid through cheque or other means after comapleting all other formalities like completion of the proposal form and pre-policy health check-up if any. Once the proposal is accepted, the policy document is released.

Online: It needs meticulous analysis to compare plans and arrive at an informed choice. Having done so, the next steps are simple in the following sequence.

• Visit Paisawiki.com and click on the "Get a Quote" button.
• Select from the various options available for the nature of Health Insurance Plan - Individual, Family Floater or a group of family members in separate policies.
• The next step is to select family members to be insured.
• Input the date of birth of each member selected.
• Choose the amount of sum insured. It may be of help if the Premium Calculator is used to ascertain the financials of the chosen Health Insurance Plan.
• In the next step, the contact details like cell number, Email address and State of residence have to be input.
• On submission, the Paisawiki calculator will suggest some quotes.
• Pay the amount as the initial premium to complete the purchase of the chosen plan.

Documents Required for Kotak Medical Insurance

The emphasis on digital infrastructure and paperless environment helps Kotak Mahindra Health Insurance to deliver quick and accurate services aimed at customer comfort. Thus, whether it is for purchase or claim, documentation is sparse.

• Documents required for purchase are:
  • Valid Photo ID proof
  • Age proof
  • Address proof
  • Income Proof
• Documents required for Claim are:
  • Duly filled and signed Claim Form
  • Copy of photo ID Card of the insured patient
  • Copy of the Policy Document
  • Hospital Discharge Certificate
  • Doctor’s notes and requisition
  • Original Investigation and Diagnostic Reports, Plates, films etc.
  • Pharmacy Bills
  • Hospitals Bills with Breakup duly authenticated. 

Additional Documents, if required

• Death Certificate
• Police FIR
• Police Investigation Report
• Any other deemed necessary for claim settlement.

Kotak Mahindra Health Insurance Renewal

Payment of renewal premium in due time keeps the policy live so that the insured can avail of Kotak Health Insurance assistance in medical emergencies. The most popular mode of the renewal process is online at Paisawiki.com in a few simple steps.

• Navigate to the home page and select "Renewal."
• Select the Kotak Mahindra Health Insurance Policy, when a few dropdown windows open.
• Input Policy Number, Mobile Number and Date of Birth in YYYY MM DD format and click on "Submit."
• A new page opens for payment of premium through a secure gateway and available payment options.
• Download the Acknowledgement Receipt and preserve for future use.

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