Kotak Mahindra Bank will no longer provide insurance on debit cards, know when it will be implemented

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Kotak Mahindra Bank : The benefits available on Kotak Mahindra Bank’s debit card are going to be less than before. The bank has sent an email to its customers informing them that the insurance related service available on their debit card is now being discontinued.

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The bank has informed that these facilities will not be available after July 20, 2025. However, all insurance claims made till this date will be accepted under the old rules.

What insurance facilities were available on Kotak Debit Card?

Kotak Mahindra Bank used to provide many types of insurance facilities to its debit card holders. These are the important ones among them.

1. Personal Accidental Death Cover

If the cardholder dies in a road or rail accident, then the nominee of his family or legal heir gets the insurance amount. This amount can be up to Rs 15 lakh. However, for this the cardholder has to fulfill some rules. The amount of insurance cover depends on the variant of the card.

2. Lost Baggage Insurance

If you have purchased a travel ticket using Kotak Mahindra debit card and your bag is lost during the journey, you can get an insurance cover of up to Rs 1 lakh.

3. Purchase Protection (Insurance of the purchased item)

The bank provides insurance cover of up to Rs 1.5 lakh if ​​the items purchased using Kotak debit card are lost or damaged within 60 days.

4. Air Accident Insurance

In case of death due to an accident during air travel, a cover of up to Rs 5 lakh is available.

5. Lost Card Liability Cover

If your debit card is stolen and misused, the bank covers losses up to Rs 6 lakh.

What will happen after July 20?

The bank has clarified that no insurance benefit will be available on the debit card after July 20, 2025. But claims made before July 20 will be valid and will be processed as per the old rules.

How to make an insurance claim?

If you have already made a claim for any insurance, you can contact the bank through email. All the information related to the claim is available on the website of Kotak Mahindra Bank to send an email. This announcement of Kotak Mahindra Bank is important for those customers who were availing insurance protection through debit card. Now customers should check their policy details thoroughly before any possible loss and make their claim before 20 July 2025.

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