IndiaFirst Life Insurance Company is an Indian private insurer offering financial products to fit the diverse needs of people from all walks of life. The company has been in the insurance sector since 2009 and had a CSR of 96.92% in the financial year 2021-22. It is one of the fastest-growing insurance companies and is a reliable insurer to buy insurance plans from. Let us see the benefits and different types of life insurance plans offered by IndiaFirst Life Insurance Company.Read more
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Let us take a look at how buying an India first life insurance can benefit you:
Financial Security: Various Indiafirst plans like IndiaFirst Term plans, investment plans, and ULIP plans can help you secure your and your family’s life. They provide your family with a death benefit in case of an eventuality which can help them pay the child’s fees, medical emergencies, or rent.
Wealth Creation: A lot of the Indiafirst plans give customers a chance to grow their wealth. Plans like traditional saving plans and ULIP plans invest a part of your premiums in the market funds. You can create a corpus to beat inflation or fulfill any goals by investing in any of these plans.
Wide range of products: Indiafirst plans provide a vast range of products for their customers to choose the plan most suitable for their needs. They offer term insurance plans, investment plans, ULIP plans, child plans, and many more.
Online Policy Purchase: You can purchase an IndiaFirst life insurance plan online from the comfort of your home in just a few clicks. The process is not only convenient but also paperless.
High Claim Settlement Ratio: India First life insurance has a CSR of 96.92% in the financial year of 2021-22. This means the company settled most of the claims received in the year and thus can be a good option to purchase life insurance from.
Low Premiums: The Indifirst life insurance premium rates are comparatively lower than other life insurance companies in India. You should always compare and buy life insurance plans online on the basis of premium rates and life cover offered.
Dedicated Customer Support: The company offers dedicated customer support that you can get in touch with, online or offline depending on your preference. You can contact the company via call, email, whatsapp, or send a mail to the company’s official branch.
IndiaFirst life insurance company offers several types of life insurance plans for customers to choose from, depending on their requirements. The types of plans offered by the India First life insurance company are:
IndiaFirst Term insurance plans offer customers a large life cover throughout the policy term at affordable life insurance premium rates. In case the policyholder suffers an unfortunate death during the policy term, the nominee will be paid the death benefit to take care of their financial obligations.
The plan provides 3 coverage options: Life Option, Return of Premium Option, and Smart Life Option
You can pay the premiums as per your convenience, on a monthly, quarterly, half-yearly, or yearly basis
Choose to receive the benefit payout in either lump sum or lump sum + level income
You can increase or decrease your life cover depending on your life stage requirements
Get your spouse insured within the same policy with the life option
Choose from 7 cover options to find the one that suits you best
Pay the premiums on a yearly, half-yearly, quarterly, or monthly basis
The plan offers the return of premium option through which you can receive all the premiums paid
You can avail of a maximum of 3 premium breaks throughout the policy term
You can increase your life cover with the changes in the life stages like marriage and childbirth
The plan is available for anyone within 18 to 60 years of age
You can pay your premiums on a yearly, half-yearly, or monthly mode
You can avail tax benefits as per the prevailing tax laws
The maximum policy term is of 40 years and the maximum maturity age is 70 years
The minimum and maximum sum assured offered under the plan are Rs. 1 Lac and Rs. 5 Crores respectively
Note: You should always use the IndiaFirst Life Insurance Premium Calculator to determine the premium amount for your desired life insurance plan.
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India First ULIP plans invest a portion of your premiums in the market funds and a part of it is used in the insurance portion. You can select the type of fund you want to invest in, depending on your risk appetite.
|Plan Name||Entry Age||Maturity Age||Policy Term|
|IndiaFirst Life Radiance Smart Invest Plan||0 years - 65 years||99 years||10 years - till 99 years of age|
|IndiaFirst Life Wealth Maximiser Plan||5 years - 55 years||90 years||5 years - 85 years|
|IndiaFirst Money Balance Plan||5 years - 65 years||75 years||5 years - 70 years|
|IndiaFirst Smart Save Plan||5 years - 65 years||75 years||5 years - 70 years|
You can choose from 3 plan options: Life Option, Extra Shield Option, and Family Care Option
The plan offers 10 fund options for you to choose from
Select any of the 6 investment strategy options to meet your financial needs
The plan offers zero allocation charges which means that your entire premium amount is getting invested in funds
The extra shield option of the plan provides cover against accidental death
You will be eligible for add-on benefits like profit booster, loyalty benefit, and loyalty advantage
Choose from 3 investment strategies to make the most of your investments
Flexibility to select from 7 different fund options as per your risk appetite
You can switch between funds unlimited times throughout the policy term
You can pay top-up premiums to take care of your future needs
The plan offers single, limited, and regular premium payment options
You can get liquidity with partial withdrawals as per your needs
The minimum and maximum entry age for the plan are 5 and 65 years respectively
The plan’s ‘automatic trigger based’ investment strategy can help you optimize your investments
The plan offers 2 fund options with different market risks and returns
You can secure your savings by transferring your investments in a liquid fund to over the last 3 years of the plan
You can ‘redirect’ or ‘switch’ your premiums from one fund to another
The maximum age allowed at the end of the policy term is 75 years
You have the flexibility to choose your policy term from 5 to 20 years in single premium payment option and 10 to 70 years in regular premium payment option
The premiums can be paid on a monthly, half-yearly, or annual basis
IndiaFirst Child plans provide financial security to your child in case of your unfortunate death during the policy term. The payout received from the plan can help realize your child’s dreams or get higher education.
|Plan Name||Entry Age||Maturity Age||Sum Assured|
|IndiaFirst Life Little Champ Plan||21 years - 45 years||65/70 years||Rs. 1.5 Lacs - No Limit|
The plan has an inbuilt waiver of premium rider
You can choose from a range of 8 benefit payout options
The plan’s bonus accumulation allows a secure growth of your investments
The minimum and maximum entry age are 21 and 45 years respectively
Get tax benefits as per the prevailing tax laws under section 80C and 10(10D) of the Income Tax Act of 1961
India First Pension plans can help you secure your post-retirement life by offering regular payouts even after the end of your monthly income. The payout received from these plans can help you fulfill any life-long goals and provide you with life cover.
|Plan Name||Entry Age||Policy Term||Premium Payment Term|
|IndiaFirst Guaranteed Pension Plan||45 years - 80 years||Whole Life||5/6/7/8/910 years|
|IndiaFirst Guaranteed Annuity Plan||40 years - 80 years||Whole Life||Single premium|
|IndiaFirst Guaranteed Retirement Plan||0 years - 75 years||5 years - 40 years||5 years - 35 years|
|IndiaFirst Life Immediate Annuity Plan||40 years - 80 years||Whole Life||Single premium|
With a limited premium payment period you can receive annuities for your lifetime
You can choose from 5 different annuity options as per your needs
The plan offers protection against 20 critical illnesses
You can choose to receive annuity benefit for yourself with the single life option or extend it to your loved ones with the joint-life option
With the escalating life annuity option you can receive annuities at a constantly growing rate
You can choose from 12 different annuity options as per your requirements
With Escalating life annuity option the annuities paid will rise at a fixed rate
Receive regular income on a monthly, quarterly, semi-annually, or annually.
You can secure your loved ones through the joint life or family income options
The minimum and maximum entry age in the plan are 40 and 80 years respectively
You can pay your premiums in regular, single, or limited premium installments
Build retirement corpus with bonuses added in the later years of the plan
Avail of Tax benefits under sections 80C and 10(10D) of the IT Act.
The minimum and maximum entry age for the regular premium plan is 25 and 55 years respectively
The minimum sum assured for the regular and limited premium plans is Rs. 5 Lacs
You get the choice of selecting your retirement age from 40 to 80 years
Receive regular payout on a monthly, quarterly, semi-annual, or annual basis
With the return of purchase price, the amount invested will be returned to your family after your death
Choose from 4 annuity options as per your suitability
The minimum and maximum monthly annuity installments will be Rs. 1,000 and Rs. 12,500 respectively
India First savings plans are the traditional money savings life insurance plans that offer guaranteed maturity on the survival of the policy term. These plans not only offer financial security but also give a chance to grow wealth in the long run.
|Plan Name||Entry Age||Maturity Age||Sum Assured|
|IndiaFirst Life Fortune Plus Plan||1 month - 60 years||70/80 years||Rs. 1.68 Lacs - No Limit|
|IndiaFirst Life Long Guaranteed Income Plan||8/30 years - 50/60 years||60/70 years||Rs. 4.8 Lacs - No Limit|
|IndiaFirst Life Mahajeevan Plus Plan||1 month - 55 years||75 years||Rs. 1.2 Lacs - No Limit|
|IndiaFirst Life Cash Back Plan||15 years - 55 years||70 years||Rs. 50, 000 - No Limit|
|IndiaFirst Maha Jeevan Plan||5 years - 55 years||70 years||Rs. 50, 000 - Rs. 20 Crores|
|IndiaFirst Simple Benefit Plan||18 years - 50 years||70 years||Rs. 20, 000 - Rs. 5 Lacs|
|IndiaFirst Life Guaranteed Monthly Income Plan||18 years - 50 years||75 years||Rs. 75, 000 - No Limit|
|IndiaFirst Smart Pay Plan||3 years - 50 years||65 years||Rs. 1.5 Lacs - No Limit|
|IndiaFirst Life Guaranteed Benefit Plan||4 years - 60 years||76 years||Rs. 5 Lacs - No Limit|
|IndiaFirst Life Saral Bachat Bima Plan||3 years - 50 years||65 years||Rs. 84, 000 - Rs. 5 Lacs|
The plan offers long-term financial protection for 15 to 20 years
Limited premium payment period provides life cover for the entire policy term
Select to receive the benefit in your absence in a lump sum or regular income for 5 years
You will be eligible to receive guaranteed survival benefits and cash bonuses after the end of the premium payment period till the end of the policy term
You can add waiver of premium rider to the base plan to enhance the plans’ coverage
With the definite income option you can receive guaranteed income for 20 years
The whole life income option provides life cover till 99 years of age
You can add IndiaFirst term rider and IndiaFirst Life Waiver of Premium Rider to enhance the policy’s coverage
After the payment for 2 policy years, you can skip premium payment for one premium
You get the flexibility to select benefit payout in lump sum, or 5/10/15 years
Secure your loved ones for over 15 to 20 years
The maturity benefit will will include simple reversionary bonuses and terminal bonuses declared at the end of the policy term
The premium payment term is fixed for 12 years
On the early payment of renewal premiums, you will be eligible for a discount
You can add IndiaFirst Waiver of Premium Rider and IndiaFirst Life Term Rider to enhance the policy’s coverage
The policy allows you to pay for a limited term and receive regular pay during the policy tenure
Get guaranteed payout at regular intervals throughout the policy term
Get guaranteed additions at the end of each policy year added in your policy
Avail of the tax benefits as per the prevailing tax laws
The policy term available is of 9/12/15 years
You will be eligible to receive terminal bonus on the at the end of the policy term
The plan pays guaranteed maturity benefit along with the accrued bonuses at the end of the policy term
You can include IndiaFirst Life Waiver of Premium Rider and IndiaFirst Term Rider in the base plan to increase its coverage
Tax benefits available as per the prevailing tax laws
You can save systematically by paying regular premiums based on your income and needs
The plan offers loan facility of up to 90% of the sum assured for liquidity during emergencies
In case of the unfortunate death of the policyholder the death benefit will be paid along with simple reversionary bonuses
The guaranteed maturity sum will be paid along with the simple revisionary bonus and terminal bonuses
The policy term available under the plan is 15 to 25 years
Tax benefits will also be available under sections 80C and 10(10D) of the IT Act, 1961
The plan pays guaranteed monthly income to help you take care of your financial needs
Select from a variety of policy terms, premium payment terms, and premium payment modes
Get timely assured payouts to fulfil your lifelong goals
You can select to receive guaranteed monthly income immediately after the end of the premium payment period or a few year after, as per your convenience
You will also be eligible for any annual bonuses declared by the company
You can get a premium break for 1 premium after the end of two policy years
You will be eligible to receive annual bonuses declared by the company
At the end fo the policy term you will receive maturity benefit along with any accrued bonuses
The plan offers the option of including waiver of premium rider to enhance your base plan
The policy can be purchased online at your convenience
You can choose from an income benefit or lump sum as per your need
Get maturity benefit, annual income, and monthly income with the Income Benefit option
Avail of premium break for a year after the end of two policy years
Select if you want the death benefit to be paid in lump sum or regular installments over 5, 10, or 15 years
Avail tax benefits on the premiums paid and the benefits received under the plan
Get long-term protection with a policy term of 12 to 15 years
The plan offers additional sum assured on death in case of death due to accident
A funeral cover will be paid on the intimation of the death of the policyholder
Add waiver of premium rider in the base plan for enhanced coverage
Receive guaranteed additions at the end of each policy year
IndiaFirst Micro Insurance Plans help you secure savings for illnesses and other injuries that may arise in the future.
|Plan Name||Entry Age||Maturity Age||Sum Assured|
|IndiaFirst Life Micro Bachat Plan||18 years - 50 years||60 years||Rs. 10,000 - Rs. 2 Lacs|
|IndiaFirst Life “INSURANCE KHATA” Plan||18 years - 45 years||50 years||Rs. 1,000 - Rs. 2 Lacs|
You will be eligible to receive the sum assured at maturity including the accrued bonuses at the end of the policy term
The premium payment term is only for 5 years
The plan offers annual bonuses as declared by the company
You can choose to receive the death benefit in a lump sum amount or in installments paid over 5 years
You can avail of 1 premium break after the end of at least one policy year
Receive guaranteed assured benefit on the maturity of the plan
Get coverage for 5, 7, or 10 years for a single premium payment term
The maximum age at the time of policy maturity is 50 years
The minimum and maximum sum assured are Rs. 1,000 and Rs. 2 Lacs
The plan provides financial protection to your family in the event of an eventuality
Compare all IndiaFirst life insurance plans to get the insurance plan that suits you most.
The claim settlement process for IndiaFirst life insurance company is as follows:
As soon as possible you need to register the claims request with all the mandatory documents attached. You can submit the claims form online, through call, courier, email, or offline by visiting the nearest branch.
The company will assess if the claim is valid or not and contact you on the registered contact details via SMS, email, or letters.
If all the formalities are dutifully completed, the claim will be settled within 15 calendar days.
Here is a list of all the documents required to submit the India First Life insurance claims form:
Original policy document(s).
Completely filled & signed claim intimation form.
Original death certificate/ attested copy of death certificate.
Copy of ID & address proof of nominee and life assured.
Copies of First Information Report, Post Mortem Report, duly attested by police officials, in case of unnatural deaths including accidents, murder, suicide, etc.
Copy of hospitalization documents (discharge summary, all investigation/diagnosis reports) in case the member was treated for any illness related to the cause of death.
NRI declaration (for NRI).
Cancelled cheque bearing account no. & policy holder's name or copy of bank passbook.
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