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
Get ₹1 Cr. Life Cover at just ₹449/month+
No medical
checkup required
Tax Benefit
Upto Rs. 46800
Life Cover Till Age
99 Years
8 Lakh+
Happy Customers

+Tax benefit is subject to changes in tax laws.

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

Get ₹1 Cr. Life Cover at just ₹449/month+
No medical checkup required
Covers COVID-19
View plans
Please wait. We Are Processing..
Get Updates on WhatsApp
By clicking on "View plans" you agree to our Privacy Policy and Terms of use

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:




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


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


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. 


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

why buy term insurance

FREE Term Life Insurance Quotes in minutes

  • The Best Price
  • Get Upto 10% Online Discount
  • Dedicated Claim Assistance Program

+Standard T&C Apply

Term insurance articles

Recent Articles
Popular Articles
Term Insurance for Organ Transplants

29 Sep 2022

Organs plays an important role in the daily body’s...
Read more
Zero Cost Term Insurance: What makes this plan so attractive?

23 Sep 2022

Zero Cost Term Insurance is a new variant of term insurance that...
Read more
Zero Cost Term Insurance Plan

07 Sep 2022

Term insurance is the most common type of life insurance product...
Read more
What Will Happen to My Term Insurance If I’m in Coma?

05 Sep 2022

A coma is a long unconsciousness because of insufficient...
Read more
What Happens to the Term Insurance Plan if Its Nominee Dies?

29 Aug 2022

Nomination is an important part of financial planning. It is the...
Read more
Term Plan with Return of Premium - TROP 2022 | Policybazaar
Term Insurance is a simple life insurance plan that provides financial coverage in the form of a life cover for a...
Read more
Zero Cost Term Insurance Plan
Term insurance is the most common type of life insurance product that provides financial protection to the family...
Read more
Term Life Insurance for NRI in India
Every bread-earner wishes to provide financial security and stability to his/her family in some way. Whether you...
Read more
LIC Term Insurance 1 Crore
If you have a LIC term insurance 1 Crore handy, you can cherish all your happy moments as you have made a fine...
Read more
Types of Deaths Covered and Not Covered by Term Insurance
Types of Deaths Covered and Not Covered by Term Insurance When it comes to securing the future of your loved ones or...
Read more

View Plans
Download the Policybazaar app
to manage all your insurance needs.