Headquartered in Mumbai, IndiaFirst is a life insurance company promoted by two large public sector banks - Bank of Baroda and Andhra Bank along with Legal & General, UK's leading risk, wealth and investment company. Bank of Baroda holds 44% stake in the company, while Andhra Bank and Legal & General have 30% and 26% stakes respectively.
Currently, IndiaFirst is serving in over 1000 cities and towns across the nation through more than 6000 partner bank branches. So far it has insured more than 2.7 million lives. Headed by Ms. R.M Vishakha, IndiaFirst Life Insurance Company works on the principal of Bancassurance (bank insurance model) and thus, it is using existing base of promoter banks.
Incorporated in November 2009, the product range of IndiaFirst Life Insurance covers typical needs of health, term insurance, savings and wealth. It is also offering a wide gamut of group insurance products ranging from credit life, term to employee liability (gratuity and leave enment) plans.
Life insurance is a vital aspect of financial planning that needs to carefully chosen. Hence, IndiaFirst offers easy to comprehend life insurance plans which can be customized to fulfill needs at different life stages.
IndiaFirst Life insurance product range covers the typical needs of protection (term insurance), savings, education, retirement and health.
India First plans are reasonably priced and these term plans ensure that your loved ones are taken care of in your absence.
These are ulip plans which give you the advantage of customizing your investment solution as per your risk appetite.
IndiaFirst policies will not allow anything to come between your child’s education needs.
Pension plans help you to invest your proceeds towards a steady retirement income.
These are low risk investment plans which help you build savings systematically, through regular premium contributions based on your income and needs.
Compare all IndiaFirst life insurance plans to get the insurance plan that suits you most.
IndiaFirst has a strong distribution network with 3028 branches of Bank of Baroda and over 3000 branches of Andhra Bank selling insurance plans from IndiaFirst Life Insurance. IndiaFirst products are also available online through their website and insurance aggregators.
For ECS you must register beforehand by duly signing and submitting the ECS form. This facility is available in select cities only.
Alternatively, you can drop in or cheque at your nearest branch in the city.
You can also select the ECS or the Auto debit option for paying the premium had you initially signed up for the policy, else you can request the same by contacting customer helpdesk.
You can approach the nearest branch office and fill in the required forms, attaching the mandatory documents to get the policy renewed.
A set of documents as listed in the website needs to be submitted to the company. Upon receipt of the same, the claim is settled within15 days’ time period.
For new users, a period of about 15 days is allotted wherein one has the option to surrender the policy in case deemed necessary.