IndiaFirst Life Insurance Online Payment

Life Insurance policies are everywhere. Customers find it difficult to choose the right policy among various available policies. IndiaFirst Life Insurance provides its customers with a set of creatively structured plans. All these plans are designed with the sole motto of helping its customers with as many benefits as they could provide. Paying a premium is one of the tiring processes when it comes to a policy.

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Many individuals think twice before taking a policy and most of the time, customers are worried about the premium payment process. Under such circumstances, IndiaFirst Life Insurance Online Payment method saves trouble for their customers.

Steps to Pay IndiaFirst Life Insurance Policy Payment Online

IndiaFirst Life Insurance premium payments can be paid through two methods when it comes to online mode – Pay through UPI or Net-Banking, Pay through Debit Cards. Each of the steps is discussed briefly below.

  1. Pay through UPI/Net-Banking

    Policyholders can pay the premium for their policies online through UPI/Net-Banking by visiting the official website of the Insurer. Steps to be followed for paying premium through this method are listed below:

    • Step 1: Policyholders should click on the “Pay Renewal Premium” option that is available in the drop-down menu under the title “Customer Service”.
    • Step 2: A web page consisting of details that are required for further processing will open right after that. 
    • Step 3: Policyholders have to fill in details that are requested like – Policy Number, Date of Birth, Mobile Number/E-mail ID and then click on the “Continue” button.
    • Step 4: The following webpage consists of modes of payment for the customer to choose from. 
    • Step 5: Customers can choose the online payment mode (UPI/Net-Banking) and then complete their payment by following the usual online payment procedures. 
  2. Pay through Debit Cards

    Paying premiums through debit cards is also considered as one of the online payment modes by IndiaFirst Life Insurance. Steps to be followed for paying premium through this method are listed below:

    • Step 1: Policyholders should click on the “Pay Renewal Premium” option that is available in the drop-down menu under the title “Customer Service”.
    • Step 2: A web page consisting of details that are required for further processing will open right after that. 
    • Step 3: Policyholders have to fill in details that are requested like – Policy Number, Date of Birth, Mobile Number/E-mail ID and then click on the “Continue” button. (Entering UPI Pin and OTP).
    • Step 4: The following webpage consists of modes of payment for the customer to choose from. 
    • Step 5: Customers can choose the “Debit Card Payment” and then complete their payment by following the usual payment procedures. (Entering CVV and OTP).
  3. Wallets and Cash Cards

    Customers can also choose to pay their insurance premiums using digital wallets and cash cards.

  4. Account Transfer

    IndiaFirst gives its customers the facility to make payments instantly through NEFT or RTGS online. Users can register IndiaFirst insurance as a payee and make the payments through their banking accounts. 

Benefits of Online Payment Process

As said in the introduction, repaying premium is a tiring process for customers. No one can spare time in today’s modern lifestyle. So, repaying premium at the Insurance office or waiting in line costs a lot of time to the customer. The online payment process saves the extra cost, time and effort of the customer while paying back a premium. 

The main objective of Life Insurance is to help the customer to get a stress-free life. But, if paying the premium itself is trouble then, there is no point in the Insurer’s service. There are a lot of benefits when it comes to the online payment process.

A few benefits of using IndiaFirst Life Insurance Online Payment are listed below.

  • User Friendly: The online payment process provided by IndiaFirst Life Insurance is a user-friendly option to use while paying policy premiums. By entering a few details, the customer can pay the respective premium for their policies. 
  • Online Policy Purchase: IndiaFirst Life Insurance policies can be taken online. They provide various plans with creative coverage options that will help the customer in each stage of their life. Policies provided by IndiaFirst helps the customer to dream about their future without worrying about their financial needs.
  • Time and Cost-Effective: Offline payments cost a lot of time including the time taken and money spent on travelling to the respective Insurance offices. But with the IndiaFirst Life Insurance Online Payment process, the customer can save extra time and cost spend for travelling and waiting in line at the Insurance office.
  • Paper-free: Printing and getting the bill after payment is also a tiring process that requires the customer to stay in line again and get their printed proofs of the due amount paid. IndiaFirst Life Insurance Online Payment process saves the paper that is used for printing bills. Online bills are easy to store for a long time. Thus, this process saves paperwork and is eco-friendly.
  • Mobility: Another benefit of using the IndiaFirst Life Insurance Online Payment process is its mobility. All processes that are involved in paying a premium starting from paying a premium to getting the bill for paid premium can be done from anywhere and at any time.

Difference between Online and Offline Payment Process

IndiaFirst Life Insurance Payment provides online and offline payment processes for their customers for paying the premium. Customers can choose any one of the two processes based on their convenience. Online mode is widely preferred in today’s modern world because of the time-saving ability of the process.

  1. Online Payment Process

    While paying online, the customer needs only their mobile with a good internet connection or laptop with a Wi-Fi connection. Customers can visit the official website of the Insurer and enter the required credentials on the webpage. 

    After that, they have to choose among various online payment modes that are provided by the Insurer. Finally, they can complete the payment by following usual online payment procedures (UPI/Net-Banking with OTP or Debit Card Details with CVV and OTP). This process is time and cost-effective. It can be done within a few minutes. 

  2. Offline Payment Process

    Some policyholders find it difficult to understand how online payment works and some policyholders are only comfortable with offline modes of payment. For such customers, IndiaFirst Life Insurance provides an offline option for paying their premium. 

    The policyholder can visit the branch office that is nearby their location and pay their premium. But, this cost a lot of time and money compared to online methods.

Information Required for Online Premium Payment 

IndiaFirst Life Insurance premium can be paid online by entering just a few details. Information that is required for using the online payment process is listed below:

  • Existing customers can log in directly into their online accounts by using their mobile number or E-mail ID along with the date of birth and Captcha. 
  • Once logging in, the customer can proceed with the payment. 
  • New customers have to register their E-mail ID or mobile number and then log in using their details. 
  • After logging in, they can proceed with the payment with the usual online payment procedure.
  • Customers can choose any mode of online payment that is provided by IndiaFirst Life Insurance. 
  • After choosing their respective modes, customers can complete the payment process by following the usual online payment procedure.

Customers can choose online or offline mode depending upon their convenience. But, online mode is way more effective than offline mode and saves a lot of trouble for the policyholder.

FAQ's

  • Q1. Can I calculate the premium online?

    A1. Yes. The premium can be calculated online by using the IndiaFirst online calculator that is available on the official website of the Insurer. The policyholder has to enter the sum assured amount and the policy maturity year to know their premium amount. 
  • Q2. Are bills available for online premium payment?

    A2. Yes. IndiaFirst Life Insurance provides soft copies of bills for online payments to the customer’s mail ID. These bills can be stored and recovered more easily than offline bills. It also saves paperwork and is an eco-friendly option to use.
  • Q3. Can a policyholder cancel their policy?

    A3. Yes. Policyholders can cancel their policy even after paying several premium amounts. After cancellation, the entire premium collected from the customer will be returned to them and no more premiums will be collected from the customer. The customer can’t enjoy premium benefits after cancellation. 
  • Q4. What is the highest coverage amount for a death benefit?

    A4. The highest life coverage amount provided as a death benefit is 1Crore. The amount will be provided to the nominee of the policy as monthly installments or as a single lump-sum payment.
  • Q5. How can I know the premium amount for a policy?

    A5. Premium amount depends on the policy term and sum assured amount chosen by the customer. To know the premium amount for a policy, the customer can use an online calculator that is available on the official website of the insurer or by visiting the branch office of the Insurer nearby their location.
  • Q6. Mention terms for paying the premium.

    A6. Terms for paying premium are – Monthly, Half-Yearly, Quarterly or Yearly. The customer can choose one among the available terms depending upon their convenience and affordability.
  • Q7. What to do if I miss a premium payment?

    A7. IndiaFirst Life Insurance provides 15 days grace period for the monthly premium term and 30 days grace period for other premium terms. If the customer fails to pay their premium within this grace period, then, the policy will lapse.
Written By: PolicyBazaar
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