Kotak Life Insurance Complaints & Reviews

Hi,
We have a Kotak Life Insurance policy and we always paid all the premiums on time.
This time on 29 June 2025, we missed a premium and on 15 July 2025, we directly received an email that our policy is been discontinued and they deducted 5000 rupees as well from the policy.
While we asked for the proof that they sent us a warning they are not responding to that, since I checked my spam, trash, and every single email...

Plz remove my pan card in IRDA PORTAL
and kotak life insurance company
code is[protected]
Pan card -DIZPK6730F

Dear sir/madam
I Ratna chanda Regin from my advisor post in kotak life insurance on 03/01/2023. But as per IRDAI my status is still inforce. please change my status in urgent basis

Thanks and regards
Ratna chanda
Pan card no. CNDPC9319J

This side Palak Anand from Yamunanagar. I had a ULIP policy going on with Kotak Life Insurance. I surrendered the policy on July 9th and before that I updated my new bank account with them. Their services are so poor that no operations manager was available whenever I was visiting there and after several visits I got updated my new bank account and even confirmed many times with them to know that I will get my claim amount into the new account and I even got Re 1 transaction in the same but when I received the claim amount i.e. INR 1, 04, 380/-, it got credited in my old bank account which I was not using and which I had no access to and also it got freeze after the payment and it was in negative balance as I was not maintaining any balance since 2 years as I was not continuing my work due to covid. So I flatly told the operations team of kotak life not to credit that amount in that old account which is with Axis bank. And after all that they told we'll reverse that amount and pay your amount to the new account and we'll do it within 2-3 days. I even have proofs for all this. They told me not to try to access that account and not to withdraw that amount anyhow. So I didn't try that according to their instructions and now the amount has been deducted even from my axis account and no action had been taken by the Kotak team. It was their fault that they did not work according to the customer's demand and due to their system error or something this all scenario happened so they should return my amount on their behalf but they are not doing so. And they are just saying that axis bank is not returning the amount and we won't give any amount now. I have all the proofs with me that their officers told to just wait for 2-3 days and confirmed me that I'll get my money in the preferred account. Please help me because I'm not able to even use my money which was stucked with kotak since 5 years. I have a recording too that they told not to withdraw or use that money and now I'm in a situation that I'm left with no money. My INR 1, 04380 have become 0. Please take a strict action as no one is helping from their team and they have done it with me and also can do it with more people. Kindly take an immediate action.

I am Subhodip Pandit and i want to deactivate my agent code from IRDA PORTAL. I have sent mails to IRDA however I did not get any response from there. My agent code is KLI60941112 and my Pan no is DBVPP8608C. I got a job in an insurance company but am not able to join there due above mentioned issues.
Kindly help me to cancel my agent code.
I'll be obliged to you.

Hello,
Nadiya here
Please Remove my pan number in irda site

Pan -CPQPP5953N

Pls, remove my pan urgent basis.I'm not working in the agency but my pan no. is at irda site kindly remove it quickly . Facing alot of problems.

Hopefully, you'll solve my problem as soon as possible.

Thanks
Nadiya Parveen

Dear team,
My name is shiva Verma, my agent code is 60892635, I submitted all my documents to the branch to get the code closed.I want NOC, because noc will submitted in new organisation, pls help me, it's important for my future, but kotak life insurance group doest not support me
Thanx and regards
Shiva verma...

The company has misselled a policy no 09414860, the Branch manager and other attendees of new friends colony sold this policy stating she would get a return in 10 years after paying every annually.

The return in this one takes place after 20 years. My mother would be retired in 1 years, how would she pay till 10 years and expect a maturity after 20years?

We have been following up with them since the LOCK UP PERIOD; sent various physical letters and emails about the same, but they dont help us.

They gave a demo and made us to join as advisor.They did not say that advisor will be terminated within 3 years.I did not get my commission for this year

I have been an employee of Kotak Life (AC Market, Shakespeare Sarani Road, Kolkata) for 1 year now.

These people call up desperate jobseekers under the false pretext of a job profile called Team Development Manager, which is actually chain marketing for their policy business.

I was coerced to complete my sales target in 1.5 months instead of the official "3-month training" time wherein, I also had to sell a Health...

Sir,
i have a kotak life insurance policy[protected] having premium of rs.6646/-, just now i have paid the premium through my bandhan bank debit card, but have not recived the premium recipt and niether it is showing in the kotak lic portal..
Kindly help

regards
gopal saha

Dear Sir / madam

my proposal number is[protected] vijay bhawani) please cancel my proposal policy ..

Reason - your bad service . i was paid policy premium om 7th of march ( 13 days before ) my medical not Done yet . now i cant trust on kotak insurance .

Kindly cancel & Refund my amount in urgent basis withount any Default ( in 3 days ) .becouse i buy to new policy from other company .i hope you understand .

Account Details

Name - vijay kumar bhawani

Bank - PAYTM BANK

Account number[protected]

IFSC CODE - PYTM0123456

Branch - NOIDA

Thanks & Regards

vijay bhawani

[protected]

Policy no. 03975321, Client id 68210386. Client Name - Mandar Sinnarkar

Hello,
I was supposed to get Rs. 15565/- on 5th March as yearly money back from this policy. But this now year till now I did not receive money till today. When checked with Local Pune office, I understood that payment was rejected due internal mistake at Kotak.
I am suffering because of your mistake & lost interest for 10 days till today on this amount.
When checked on telephone with local office, they do not have any idea on this.
If I do not get money credited in account by today end (16th March 2021), I will lodge the legal case against Kotak

Mandar Sinnarkar
[protected]

Client Id: 53661913
Kotak Second Innings plan
When took the policy was informed Policy Term is 18 years, however, was also informed that I need to pay only for 3 years compulsory. After 3 years, no need to pay. For Surrender was told that after 6th year, no surrender fee and full fund value will be redeemed.

As per policy conditions and clause, this was accurate so agreed.

But since the 4th year, I am every year asked to pay the premium and told if I dont pay, I will lose the entire funds. Its now the 11th year and again being asked to pay the premium even through policy terms and conditions say otherwise. When asking to redeem, I am infromed by the RM that I will lose all my funds. When I ask them to check the policy conditions - they do not reply and threaten to cancel and lose all money.

Resolution Required: Redeem policy and credit full fund value to my bank account as per policy conditions that were explained to me.

Respected Sir,

Jai Hind. This is bring to your kind notice the malpractices being followed by Kotak Insurance. Please be informed that we had initiated a policy with Kotak Insurance in 2015. We deposited Rs. 3.4 Lac for about three years. Thereafter we requested to cancel our policy & return back our entire amount since we were not in a position to invest. After following them for almost 2 years they returned back Rs. 1.96 Lacs to us just a few days back. It was a horrifying experience with company begging for our hard earned money. Since then we have been asking them to return the balance amount as well but they do not agree. A complaint to IRDA through pgportal (Complaint No. DEAID/E/2021/00386) could not find me an answer. In fact IRDAI official simply forwarded me the company's reply. I still do not understand how a case can be closed without my consent. It clearly shows IRDAI official favoring the company.

I had requested to Kotak for written evidence which they have failed. They did not even send my account statement. It is clearly a case of cheating/malpractice.

Really not sure about the role RBI. Complaints to RBI about that Bank have not been answered. Really pathetic company.

These Banks pose a big threat to the society & should be shutdown.

Please look into this matter & do the needful from your end. I request my balance money back.

An early action from your end would be highly appreciated.

Thanking you,

Atul Sharma
Email : atulsharma.[protected]@gmail.com
Cell No.[protected]

Policy No. 03215256

Respected Sir,

Jai Hind. This is bring to your kind notice the malpractices being followed by Kotak Insurance. Please be informed that we had initiated a policy with Kotak Insurance in 2015. We deposited Rs. 3.4 Lac for about three years. Thereafter we requested to cancel our policy & return back our entire amount since we were not in a position to invest. After following them for almost 2 years they returned back Rs. 1.96...

Policy no 02721964
I had Paid Rs 50000 in the said life insurance of Kotak only 29/03/2013 vide receipt no [protected]
I have not received the policy nor the amount invested till date

I have reigned from KLI on 2008. Since then i have applied so many times for my EPF. Still i have not received my PF as on date. emp id ..OM11779

I received a call from person called amlan jyoti chakravarty +[protected]. From kotak mahindra, sunny towers, ballygunge, kolkata. Same story: don't have to sell anything, you are part of administration department, need to visit office only on saturday for conducting interviews. If you recruit an investor, 5% of the investment is the commission. A monthly fixed amount of rs. 40, 000 is guaranteed. Have to take a training of irda. Today he is organising a zoom meeting.
When tue 14 jul 2020 17:30 - 18:30
Where
https://us04web.zoom.us/j/[protected]?pwd=RVFKcWJISjR5Z2VN0E0czN2bXcvQT09
Who [protected]@gmail.com organiser
Meeting id :[protected]
Password: 6yqcmn

My self antony joseph l, i took policy years an ago and i received a call from branch of kotak life insurances - pla. Plaza, 3rd flr, above maruti showroom, municipal office road, trichy, tamil nadu, 620001. Mobile number [protected]. She's said said we will not refund your money 100% we are financially lock down and now we don't have a money to pay a renewal amount. Kindly take an action against on kotak life insurances trichy. We are earn a hard money, they are sitting in ac hall to threatening a customer. They wont accept a customer concern. Who will guarantee for the money.
Humble request you to take action and put fir on that money laundry company.

Hello

Today i have personally dropped message to biplob goshami kotak life insurance manager on his mobile number few minutes back, he informed me he need two days time to find out as he is busy in month end closing great answer i do accept he is busy with month end but if it would have new policy he would have answered to all my queries.

Now i want you to know the actual story on february month i got many calls from kotak life insurance saying my two policies which 9829491 & 9829319 are due for payment in mar 10 2019 immediate i have informed mr. Dey my financial advisor to stop my ecs deduction he informed me he has submitted the ecs stop form to (Pankaj kr das asia code :[protected] on 28 feb but ecs may hit to my account which will dishonour if i dont maintain the amount so i said ok. Again i received msg on 31 mar for both this policies thank you for payment on 31.03.2019 suprise and shocked who paid this money thinking my dad may have paid and today again bigger shock the same ecs hit to my account again without my knowledge.

My question ia once ecs is dishonour how is it possible ecs redebit to my account without my instructions and why it happend. Now one policy payment deducted from my account today for rs. 100183/- for pol no. 9829319 this amount was maintaining for my son education and the other policy ecs hit to my account unfortunately amount was not there.

Now i am in urgent need of money pls return the amont debited from my account. Who will pay me back the dishonour charges. Pls share proper investigation which help to understand the case. None of the documents i have not signed any forms also for rediting nor any request sumitted.

Hope you will understand the situation and support to get this amount refund back as soon as possible.

Mail have been send to ms. Kavita gupta branch manager seerampore, west bengal, hooghly, mr. Ankit srivastava, rupesh sharma and biplob gosami and none of them responded on the mail.

—
Regards,
Soma

Kotak has once again done a fraudulent taking money
Policy confirmation number [protected]

I was told the claim would not happen because of not completing 2 years

That means if issue happens within 2 years we will not get the claim

During the time of sale there was false information given by their own kotak insurance team saying everything can be claimed after 90 days

This is pure way of cheating customers

I request someone to kindly take a necessary actions against kotak to stop doing fraudulent during sale with innocent customers

Hello team,

My policy # 09744340

My health is currently not fine i am down with migraine issues which in turn leads me to other health hazards due to the tensions i am taking at my work place and hence decided rapping up all my financial policies and accounts as i am in need of cash am going to quite my job. I would be very grateful if you guys can do something to have my premium which is paid out so far given...

The company said that I should pay 10000 pr year till 10 year after that year in the 11th year my money would greater than the fixed deposit.
Now in this 11th year the company said that because of market issue the value of the money hasn't increased and are me the same amount as paid by me in these 10 years without any additional amount. Even my total amount is 1 lac but the company is giving me only 90700 by decreasing the amount. How would I be knowing about the shares and if they wanted they should inform me within the maturation period but they told me this thing after the maturation. So this company is fraud to believe and even they don't provide any good services about the policy .All the form was even filled by them only my signature was taken from me on the form.

I have taken kotak assured savings plan in year 2018 by paying annual premium of 1, 20, 000. I was told i will get 10% on yearly basis & after 15 years i will get good amount so i though 10% is a good return. But after 03 months i shown it to 01 of my c. A friend he told premium has to paid for 10 years & how come insurance will pay you 10% till 15 years. Than i confirmed with sales executive than he told me 10% will be given after 10 years & for 05 years when you are not paying premium you will get very less yearly benefit may 2 to 4%. I was very much angry on him than he told "ab kuch nahi ho sakta". Than i though of cancelling policy. Now 01 month back i got mail from kli to pay premium & i told them i cannot pay premium & cancel my policy & i am not worried about 1, 20, 000. Than kli customer care is continuously harassing me for making a payment & they are saying i need to make payment for 03 years. Than i told them boss i have not taken any loan from you for which i liable to pay. But they are not cancelling my policy & continuously harassing me to make payment.

Dear Ms. Shradha chavan / Ms. Kalparupa Datta / Mr. MuraliKrishna,

Greetings of the day!

As per the telephonic conversation with your telephone executive Mr. Sanjay, we realised that there's an huge dispute and fraud happening in our policies done with kotak life insurance.

Above are my policy details which I have taken from kotak way back, wherein the conversation I had with you agent was very...

I am Subodh Bhandari
I have took kotak policy on dated 31/5/2017.
My policy No is 09638149.
Kotak assured saving plan
After 4 month i have realise that policy term and constions are not fullfield to me.i took this policy for my daughter Saavi (3yr old).but the life was insured of Subodh n nominee was saavi...it was just reversed.life insured should be done of saavi..i complaint to manager but no solution came.

I regret taking a policy in may, 2008 for 10 yrs from kotak as there systems are so downgraded/not up to the current standard i do not want anyone to purchase any of their products.

1. I was not able to login to their portal for 7 yrs. To make a payment.
Have to visit their branch every quarter to make payments for 7 yrs. Hours
& hours of money/time wasted on calls. Also picked a guy from the
Indranagar branch in bengaluru, he ran away and washed his hands
Stating he has left that branch. They did not even allow me to surrender.

2. At maturity, they credited an amount and then mentioned, their systems have calculated incorrectly and had an over payment.
If their systems cannot do anything, why are they in the market. Work on
Your systems and then start your business.

Actions i am taking:
In my office, i am able to tell these stories to my colleagues regarding kotak's pathetic system and able to succeed in diverting them from kotak. We do have a kotak paymint card for food coupons, we all have discussed that we will withdraw in the month of dec, 2018 (Few) and mostly in march, 2019.

I am Anil Kumar Choudhary.
I have took kotak policy on dated 18/5/2015.
My policy No is 03232573.
After 1 years i have realise that policy term and constions are not fullfield to me, as commited by the manager, he forced me to tok policy.he is not explain that time properly.after i contact him he is trasfered to another bank.
I called to kotak bank insurance customer care.
They said you have to complete 3 years lock in period.
Now 3 years completed but bank is saying that you will get only 50000/-
and i have paid of Rs.162000/-
My questions is bank making fool to me as per policy term.
I have to pay 54000 p a till 10 years .
after 16th year i will get 48000 p a.
But if I put money in FD i will get more that 48000 in 16th year.
Plan is very bad and i want my money back in my account. otherwise i will file a case on kotak insurance bank.
My contact No:- [protected]

I have been forced to pay for a plan that i did not authorised. Your agent promised me different plan and kept me in impression that i am paying for the plan i have authorized. Next day, i called for receipt and then got the information of this payment i made. Its completely a different plan which the agent did not inform. It was done from west bengal branch and currently im located in delhi. I want an immediate re-imbursement of my payment...