Terms & Conditions

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Terms & Conditions

Insurance on Kotak Debit is provided by Zurich Kotak General Insurance company limited for the period of July 24, 2024 to July 23, 2025.
The Debit Cardholder may be offered insurance benefits from time to time by Kotak Mahindra Bank.
Kotak Mahindra Bank reserves the right to change, at any time (at its sole discretion and without giving any notice thereof or assigning any reason thereof), suspend, withdraw, modify or cancel the insurance cover.
Liability for Lost Card Liability will start from the Date of Dispatch of the Card as confirmed by the Bank, whereas for all other sections, it will start from Date of Activation of the Card (means first POS transaction/cash withdrawal by the cardholder)
Insurance provided under the policy shall not be valid for procuring a visa
Coverage on Lost Card Liability and Purchase Protection Sections shall be payable only on PIN based transactions (except for international transactions where PIN is not mandatory)
Claim Submission to Bank to be within a period of 60 days from date of blocking of card
Customer to provide Intimation of Claim within 30 days from date of loss/blocking of card
For skimming/phishing/counterfeit card/internet banking extensions - report to the Bank within 60 days from the statement/billing cycle date. However, this above reporting period will not be applicable if the Bank can establish with documentary evidence that the information of misuse was known to the customer and he/she did not take appropriate steps to prudently block or report the card misuse within 24 hours of such knowledge.
Further, the policy shall cover losses due to skimming/phishing/counterfeit/internet banking frauds extensions subject to a maximum period of 30 days from date of first fraud.
Fraudulent transactions done by person known to the Cardholder are specifically excluded.
The decision of the Bank in all matters is final and shall be binding on all persons.
All disputes arising out of or in connection with this feature shall be subject to the exclusive jurisdiction of the courts in Mumbai.
Maximum Trip duration for Emergency Medical expenses is 30 days.
For personal accident death cover on Classic Cards a minimum of 2 transactions (POS/e-Commerce) of INR 500 each in last 30 days is mandatory for cover enhancement
For personal accident death cover on Gold / Platinum / Privy Platinum / Signature and Infinite Debit Card, a minimum of 6 transactions (POS/e-Commerce) of INR 500 each in last 60 days is mandatory for cover enhancement
For personal accident death cover plan is not applicable for ATM transactions.
Natural Death, Suicide, Drowning in water are not covered under the policy of Personal Accident Death. The policy is only applicable for deaths due to accidents on rail/road.
Air accident coverage, covers customers who have purchased the air tickets by using Kotak Debit Card. The policy is applicable for all the insured card variants except for Classic cards.
In the event of the death of the insured person due to accident (rail/ road), the policy is liable to pay in addition to the insured amount, the transportation of insured person’s dead body to the place of residence, a lump sum amount of 2% of capital Sum insured or INR25000 whichever is less.
All Claims intimated from 1/10/2014 will follow the NEFT route for payment.
Any type of Insurance on Debit Cards is not applicable for Virtual Debit Cards, Prepaid cards and Easy Pay Debit card.
Nominee of the customer's account from where the Debit Card was issued can only claim the insurance on the card.
Account nominee will be considered as the default nominee for Debit Card and linked Insurance Claims.
For personal accident death cover on Gold / Platinum / Privy Platinum / Signature and Infinite Debit Card, a minimum of 6 transactions (POS/e-Commerce) of INR 500 each in last 60 days is mandatory for cover enhancement
Claim should be raised with bank within 50 days as per the Insurance Policy

Know more about different Debit Cards provided by Kotak Mahindra Bank.

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Insurance On Debit Card

Terms & Conditions