Kotak Life e-Term vs Canara HSBC iSelect Smart360

Kotak Life Insurance Company has settled 100% of its claims within 30 days, and there have been fewer complaints regarding its claims compared to other insurers. The claim settlement ratio of Kotak Life Insurance Company is 98.25%, and their claim amount settlement ratio is 95.53%. Also, the insurer offers an online claims tracking system and a dedicated toll-free number for claims assistance. However, they do not provide home pick-up of claims or a personal relationship manager for claims. Their claim form is also quite lengthy.

Canara HSBC OBC Company has settled 100% of their claims in less than 30 days. It is estimated that Canara HSBC OBC Company’s claim settlement ratio is 99.01%, while their claim amount settlement ratio is 96.42%. Additionally, they have an online tracking system for claims, a personal relationship manager for claims, a dedicated toll-free claims service, and a short claim form. On the flip side, they don't offer home pick-up of claims. And, they also have a higher number of claim-related complaints compared to other insurers.

Kotak Life Insurance Company offers customer services via their toll-free number and Twitter. Our research found that the response times on Twitter and toll-free services were slow compared to other insurers. This means that you and your family may not receive timely assistance to resolve any issues.

Customers can reach Canara HSBC OBC Company via their toll-free telephone number and Twitter. Based on our research, we found that their Twitter response rate and toll-free service was average, compared to other insurers. This means you or your family are unlikely to get a quick response if you raise any questions or concerns on Twitter.

The Kotak Life e-Term offers a range of customization options giving you more control over the protection you receive. It offers a cover for up to 85 years with Limited Pay options such as 5, 10, and Pay till 60 years. You can pay premiums half-yearly or yearly. Also, the plan provides both one-time lump sum and one-time lump sum plus monthly installments claim payout options. However, it doesn’t provide an increasing cover option. Kotak Life e-Term also offers riders. Riders available with this plan include a Critical Illness Rider, an Accidental Death Benefit Rider, and a Waiver of Premium Rider for Critical Illness and Accidental Disability. These riders can provide extra financial support in the event of specific circumstances.

A variety of customization options are available with Canara HSBC iSelect Smart 360 Plan. It offers you an increasing cover option in which your coverage by 5% every year until your base policy cover doubles. It is important to note that coverage increases from the second year onwards. Canara HSBC iSelect Smart 360 Plan offers a life cover up to the age of 99 with several limited payment options for 5, 10, 15, 20, 25, pay till 60 years with premiums payable on a monthly, quarterly, half-yearly, or annual basis. Claim payout options include a one-time lump sum option, monthly instalment option, and a combination of both. Canara HSBC iSelect Smart 360 Plan offers a Critical Illness Rider, Waiver of Premium Rider for Critical Illness Rider, Waiver of Premium for Accidental Disability Rider, and an Accidental Death Benefit Rider.