First year premium is not refundable in this company (what ever you paid Rs 10000 or 50000 or 100000 monthly or yearly based. its not)3 years is locking period.
So after that only u can surrender the policy. They will deduct 4% of amount in our policy also. BE CAREFUL WITH THIS COMPANY. DONT INVEST IN THIS COMPANY
ALSO SEE BELOW LINK ALSO
https://mouthshut.com/product-reviews/Kotak-Mahindra-Life-Insurance-reviews-925053670
https://consumercourt.in/life-insurance/18074-complaint-against-kotak-life-insurance-policy-no-01368898-a.html