Benefits of IndiaFirst Life Term Insurance Plans

IndiaFirst Life Term Insurance Plans offer a range of benefits that help safeguard your family’s financial well-being, even in your absence. These plans are designed to provide affordable protection, flexible coverage, and peace of mind.

• Comprehensive financial protection: Your loved ones receive a lump-sum or regular income to meet essential expenses, repay loans, and sustain their lifestyle.

• Flexible payout options: Choose how your family receives the benefit — as a one-time payment, monthly income, or a combination of both.

• Affordable premiums: Enjoy high life cover at cost-effective rates, ensuring long-term protection without financial strain.

• Tax savings: Premiums paid and benefits received are eligible for tax benefits under prevailing laws, helping you save while staying protected.

• Optional riders: Enhance your plan with additional covers such as critical illness, accidental death, or waiver of premium for wider protection.

Features of IndiaFirst Life Term Insurance Plans

IndiaFirst Life Term Plans come with several customer-focused features that make them suitable for different financial needs and life stages. These features ensure that policyholders get maximum value from their coverage.

• Flexible policy term: Choose a plan duration that matches your financial responsibilities, from short-term protection to coverage extending up to 99 years.

• Multiple premium payment options: Pay premiums monthly, quarterly, half-yearly, or annually based on your convenience.

• Life stage flexibility: Increase or customize your cover at key milestones like marriage, home purchase, or the birth of a child.

• Ease of purchase: Buy your policy online in a few simple steps with minimal documentation and instant premium estimates.

• Claim settlement assurance: Benefit from a reliable claim settlement process backed by IndiaFirst Life’s strong record of timely payouts.

IndiaFirst Term Insurance Plans

IndiaFirst Life Insurance Company offers the following term insurance plans:

IndiaFirst Life Elite Term Plan

IndiaFirst Elite term plan allows you to financially secure your family at affordable rates and get lifelong cover till 99 years of age.

• Large cover at affordable premiums

• Whole life cover till 99 years of age

• Buy online to get 10% discount on 1st premium 

• Tax benefits as per the prevailing tax laws

Entry Age: 18 years

Maturity Age: 99 years

IndiaFirst Life Plan

Get covered till the age of 80 years with this term insurance and receive large sum assured, long term cover, and flexible premium pay options.

• Guaranteed Death Benefits

• Flexible Policy Terms

• Life Cover Customisations

• Claim Tax Benefits

Entry Age: 18 years

Maturity Age: 80 years

IndiaFirst Life Super Protection Plan

This term plan offers two plan options, a return of premium option, and waiver of premium in case of critical illness or disability. You can get joint life cover along with inbuilt terminal illness benefit.

• Option to receive the premium paid (ROP)

• Pay premiums at your convenience

• Lifetime cover till 99 years

• Death benefit paid as lump sum or monthly installments

Entry Age: 18 years

Maturity Age: 99 years

IndiaFirst Life Saral Jeevan Bima Plan

Ensure financial security for your loved ones with this saral jeevan bima plan that offers large life cover up to 50 Lakhs at affordable premiums payable at convenient premium pay modes.

• Cover up to 50 Lakhs

• Flexible premium pay options

• Get covered for up to 40 years

• Claim tax benefits per the IT Act, 1961

Entry Age: 18 years

Maturity Age: 70 years

How to Select the Right IndiaFirst Term Insurance Plan?

Choosing the ideal term insurance policy is a crucial component of sound financial planning, as it ensures your family’s financial stability in your absence. IndiaFirst Life offers various options, and selecting the most suitable plan requires careful consideration of your personal and financial needs.

Determine the Optimal Life Cover Amount (Sum Assured)

The first step is to accurately calculate the coverage amount your dependents would need to maintain their lifestyle and meet future financial goals. You should utilize an online Human Life Value (HLV) or Term Insurance Calculator to estimate the Sum Assured that effectively covers your income replacement needs and outstanding liabilities, ensuring the chosen amount is sufficient to secure major future goals, such as children's education and marriage, while also accounting for long-term expenses and managing inflation.

Choose the Appropriate Policy Term

It is essential to select a policy duration that aligns with your key earning years and financial obligations to ensure your dependents are protected throughout their period of reliance on your income. You must select a policy term that extends until your planned retirement age or until all major financial obligations, like long-term loans and child-related goals, are successfully met, and you may consider plans offering Whole Life Protection if coverage is needed well into your advanced years.

Evaluate the Payout Options

IndiaFirst Life plans typically offer different ways for the claim amount to be disbursed, and you must select the method best suited for your nominee’s financial management capabilities and specific needs. You should decide between a Lump Sum payment, which is ideal for immediate debt clearance and large capital expenses, or a Monthly Income payout option, which provides a steady, disciplined income stream to cover recurring family expenses.

Opt for Value-Added Riders

Term plans are flexible and allow you to enhance your basic coverage with optional riders for comprehensive protection against specific and common risks beyond standard mortality, such as accidental death or critical illness. It is advisable to include necessary riders, like the Critical Illness Rider or the Waiver of Premium Rider, to ensure financial protection upon the diagnosis of a serious illness or loss of income due to permanent disability.

Review the Insurer’s Claim Settlement Record

The ultimate value of a term plan lies in its promise to pay the claim quickly and smoothly, which necessitates checking the company's historical performance and reliability. You must prioritize the insurer's latest Claim Settlement Ratio (CSR), as published by the IRDAI, because this serves as the most important indicator of the company’s commitment to honouring its financial promise to the policyholders' family.

Note: Now that you know that what is term life insurance plan you can easily buy a term plan for your loved ones.

Who Should Buy IndiaFirst Term Insurance Plans?

The following individuals should buy IndiaFirst Term Life Insurance Plans:

• Young Professionals 

• Business Owners and Self-employed customers

• Married Couples

• Parents with Kids.

• Home Loan Borrowers

How to Buy IndiaFirst Term Life Insurance Plans?

Here is how you can buy IndiaFirst Term Life Insurance Plan:

Step 1: Visit the term insurance page of Policybazaar

Step 2: Enter the required details like name, contact information, and gender

Step 3: Select the right smoking habit, annual income, educational qualification, and occupation type

Step 4: Choose the best term insurance plan for yourself and proceed to pay

Documents Required to Buy IndiaFirst Term Insurance

• Identity proof: Aadhaar Card, Passport, Voter ID Card, Driving License, PAN Card

• Address proof: Aadhaar Card, Utility Bills (Electricity, Water, Gas), Bank Statement (Recent), Passport, Voter ID Card

• Proof of Age: Birth Certificate, Passport, Aadhaar Card, School/College Leaving Certificate, PAN Card

• Income Proof: Salary Slips (Last 3-6 months), Income Tax Returns (ITR), Bank Statements (Last 6 months), Form 16

• Medical Reports: Medical Examination Reports, Health Check-ups

IndiaFirst Life Term Insurance Plans - FAQs