Kotak Mahindra Bank will discontinue all insurance-related benefits on its debit cards from July 20, 2025. The bank has notified customers about this decision through an email.All insurance claims received on or before July 20, 2025, will be honoured as per existing terms. Claims filed after the deadline will not be accepted.Kotak Mahindra Bank to end insurance benefits on debit cards from July 20
What benefits are ending?Kotak Mahindra debit cards currently offer several insurance covers. These include:Personal accidental death cover: Covers accidental death (road or rail) up to ₹15 lakh, depending on the card type. Beneficiaries receive the sum insured if the cardholder dies in an accident. Eligibility conditions apply.Lost baggage cover: Offers up to ₹1 lakh coverage if baggage is lost during travel, provided the travel ticket was bought using the debit card.Purchase protection: Covers up to ₹1.5 lakh for goods purchased with the debit card, if damaged or stolen within 60 days of purchase.Other covers include:Air accident insurance: Up to ₹5 lakh.Lost card liability: Up to ₹6 lakh, depending on the card variant.Terms and conditions apply for each benefit. Customers are encouraged to review the details on Kotak’s official website.How to file a claim?If you’ve already filed a claim or plan to do so before the deadline, you can contact the bank for assistance.
