Prices Increasing soon Prices Increasing Soon

IndiaFirst Group Term Plan

While being a vital part of the organization or group, your members are also an important part of their family. Thus, it becomes your responsibility to provides financial protection for them. IndiaFirst Group Term Plan is pure term insurance and a yearly renewable plan that is specifically designed for groups to provide their members with life coverage, thus securing and providing protection to their families at low premium rates.

Read more
Gets ₹1 Cr. Life Cover at just
COVID-19 Covered
The Policybazaar Advantage
Dedicated claim support for family FREE
Upto 10% discount for buying online
Only certified experts will call you on 100% recorded lines
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

By clicking on "View plans" you agree to our Privacy Policy and Terms of use

~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

Life is Unpredictable! Protect your family’s future
Get ₹1 Crore Life cover starting from ₹384/month+
+91
Secure
We don’t spam
Check Your Premium Now
Please wait. We Are Processing..
Get Updates on WhatsApp
The Policybazaar Advantage
Policybazaar Advantage Icon
Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
Policybazaar Advantage Icon
100% calls recorded to ensure no mis-selling
We will make sure you get what is promised by the advisors. We conduct regular monitoring of our calls to make sure you get the best experience.
Policybazaar Advantage Icon
Exclusive lifetime discount upto 5% for buying online
The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
Policybazaar Advantage Icon
Advisors available in your city
Our advisors are available in more than 55 cities across India and can help you at your doorstep in understanding the plans and in documentation.
Policybazaar Advantage Icon
Refund at the click of a button
In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.

It is a non-linked and non-participating renewable policy that protects an individual or groups such as credit card holders, account holders, Government bodies, parents of college or school students, employer-employee groups, affinity groups, etc. 

Key Features of IndiaFirst Group Term Plan 

  • It is a yearly renewable pure term insurance plan

  • The plan can be availed by groups like employer-employee, banks, and its customers, professional groups, affinity groups, etc. for covering its members

  • A Master Policy held by the group’s head is issued covering the members for a pre-determined amount.

  • The plan can be bought by the Master Policyholder and the members can be covered automatically or through voluntary participation

  • Premiums are paid by the Master policyholder or by the members under voluntary schemes

  • Premiums are calculated on a pro-rated basis for new entrants

  • Employees Deposit Linked Insurance Scheme can also be opted for with the plan with 20 employees

  • A policyholder can also add new members during the policy year and have an option to pay a premium as per your requirement. 

Risk Factors

  • No maturity benefit is available under the scheme 

  • The sum assured amount is paid to the legal heirs/nominee/appointee 

  • Tax laws are subject to change from time to time as per the prevailing tax laws

Benefits of IndiaFirst Group Term Plan

  • The nominee gets the Sum Assured on the death of the policyholder during the term of the plan

  • Income tax benefit on the premium paid by the members as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act. If premiums are paid by the group master policyholder, it is exempt under Section 37(1).

  • No survival or maturity benefit is payable under this plan. 

*Tax benefit is subject to changes in tax laws.

Product Specification:

 

Minimum

Maximum

Entry Age (Last Birthday)

14 years for non-employer-employee groups

&

18 years for employer-employee groups

70 years

Maturity Age (Last Birthday)

-

71 years

Size of the group

50 members

No limit

Premium Payment Frequency

Annual, half-yearly, quarterly, monthly

Sum Assured

1000

No limit

Cover Options Under the Plan 

Compulsory Cover

Voluntary Cover M

Master Policyholder 

Chooses to participate in the plan 

Chooses to participate in the plan

Member 

Compulsory participation in the scheme

Chooses to participate in the scheme and then paying premiums accordingly 

Life Cover 

Will be on the individual member life

Will be on the individual member life

**All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Policy Details

  • Grace Period: 30 days grace period is allowed for payment of premium.

  • Policy Termination or Surrender Benefit: the policy may be surrendered by the Master policyholder but the member may continue the cover till the end of the term but there is no Surrender Value payable

  • Free Look Period: If you would not be pleased with the coverage and terms and conditions of the policy, you have the option of cancelling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

  • Cancellation of plan – if you are not satisfied with the terms and conditions of a plan within 15 days i.e., free look period of the receipt of your policy documents. You have the option to return the policy while mentioning the reasons for the same. 

Exclusion

In case any member commits suicide within 12 months from inception, only 80% of the premium paid is returned.

Documents Required

The policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the details of every group member.

Premium By Age

Term insurance articles

  • Recent Article
  • Popular Articles
23 May 2024

Term Insurance for Individuals with a 35K Salary

Securing your financial future is essential, especially when

Read more
07 May 2024

Term Insurance for 45K Salary Individuals

In life, unpredictability looms large, and while you may

Read more
07 May 2024

Term Insurance for 30K Salary Individuals

Turning your dreams into reality, like owning your home and car

Read more
11 Apr 2024

Government Term Insurance Schemes 2024

The Government of India is committed to the welfare and

Read more
03 Apr 2024

How Policybazaar Helps With Dedicated Claim Assistance

Mr. Kumar has been working with a Public sector bank in Delhi.

Read more
20 Aug 2014

Term Insurance for Women in India

Term insurance for women is a type of life insurance specifically designed for fulfilling women’s needs and

Read more
03 Dec 2020

What Is Saral Jeevan Bima

Saral Jeevan Bima (SJB) is a simple term insurance plan that offers financial protection for policyholder’s

Read more
13 Apr 2021

2 Crore Term Insurance Plan

2 Crore term insurance provides cover amount of 2 Crore as death benefit to your family in the event of your

Read more
07 Mar 2023

TATA AIA Smart Sampoorna Raksha Param Rakshak Plus

TATA AIA Smart Sampoorna Raksha Param Rakshak Plus is a comprehensive life insurance policy for individuals

Read more
Need Help? Request Callback
top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL