IndiaFirst Life Insurance Premium Calculator

The IndiaFirst Life Insurance Premium Calculator can be used to get a quote on the premium to be paid on the purchase of one of their policies.

The Process to use the Calculator

The India First Life Insurance Premium Calculator is simple to use, and all the steps are self-explanatory. By following the simple instructions provided, a customer can easily get a quote on the premium he will be expected to pay based on the plan of his choice. The calculator can be accessed from the company's official website online, and a customer can get results within a matter of minutes. The steps to be followed are as follows:

1. Step 1: Provide all the Details

   The basic information of the customer is required to get a quote on the premium amount. The customer, therefore, has to enter his name, date of birth, registered email id, mobile number, gender, and location. This information is essential for the calculator to estimate the premium. The customer's information is secure with the bank, and there are very minimal chances of it being leaked or misused.

2. Step 2: Generate OTP

   The customer must then click on the "Generate OTP" tab, and a four-digit code will be sent to the mobile number that the customer has entered. This must be entered into the calculator to proceed with a premium quote.

3. Step 3: Receive a Premium Quote and Analyse it

   The customer will then receive a quote on the premium amount that is expected of him. He must study this quote and decide if it falls within his financial constraints. If the customer finds it suitable, then he can proceed to purchase the policy online itself.

Why You Should Use IndiaFirst Life Insurance Calculator

Each customer has different financial constraints, and each of them requires a particular plan that will fit their needs. The calculator works to sort out these issues and provide customers with plans that will be most suitable for them. 

The India First Life Insurance Premium Calculator can be used to make comparisons between plans to choose the plan that provides him with maximum benefits. 

Below are the reasons that a customer should use India First Life Insurance Premium Calculator:

• It is a digital tool that provides an accurate figure for the customer to keep in mind before he invests in any policy.
• It can be used repeatedly to compare the premiums of various policies, any number of times, to clear any doubts the customer might have.
• There is no charge to use the calculator, and it is available on the company website for free.
• It is self-explanatory and simple to use. The customer only has to input certain information regarding him to get an accurate quote.
• With an in-depth study of the premium value and the policy, the customer can decide when he wants to invest his money and how much investment he wants to make.

Advantages of the Calculator

India First Life Insurance Premium Calculator is a digital tool that is a digital tool that the Company has set up for the ease of the customers. They can access it from the comfort of their homes and get an advance intimation regarding their premiums. Listed below are the advantages of using the India First Life Insurance Premium Calculator:

1. It can be accessed anytime from anywhere:

   This calculator is an online device that anyone can use to obtain information regarding their premium values at any time of the day. The customers do not need to conform to business timings or working days as is the case if they have to visit the branch offices.

2. It is free of cost:

   This tool is completely free, and the Company does not charge the customers anything for using it. Irrespective of whether or not a customer purchases an insurance policy from the Company, there is no charge levied on using the calculator.

3. It enables customers to plan their finances:

   If the customer is aware of the expenses he has to endure towards the policy, he will be in a better state to plan his finances. Moreover, he can delay or expedite certain events based on his financial situation when he has this information.

4. It is reliable:

   A premium calculator is a reliable tool that can provide error-free results in no time. The customer can therefore be assured that the amounts that are being quoted to him are correct.

Information Required While Using the Premium Calculator

The following information is mandatory while using India First Life Insurance Premium Calculator. This information is required for the identification of the customers and to make the premium calculations.

• Personal Information: This basic data collected by the calculator includes, name, age, date of birth, gender, etc., of the customer.
• Smoking Habits: The customer has to declare if he is a smoker or not. This is since most insurance companies offer special rates for non-smokers.
• Sum Assured: The customer is required to declare the amount that he is ready to invest in the insurance. This will depend on the plan that he has selected and the benefits offered within it.

Core Benefits of Purchasing India First Life Insurance

Life Insurance is a necessity if one wants their family to be secure even after they are not able to provide for them. Listed below are the advantages that one stands to gain if they invest in life insurance from India First:

1. Protection of Loved Ones

   The family and any other beneficiaries of the policyholder will gain from the investment that he makes in life insurance. If the policyholder might die, the entire corpus generated will be handed over to his family.

2. Safe form of Investment

   Investing in life insurance is considered a secure investment as the returns on it are guaranteed and not subject to recessions or booms in the market.

3. Flexible Mode of Premium Payment

   The premiums may be paid as per the convenience of the policyholder. He can choose between annual, semi-annual, quarterly, or monthly modes of payment.

4. Tax Refunds

   A customer is eligible to claim tax benefits on his investments in life insurance. Income tax deductions can be claimed while the customer is filing his returns at the end of a financial year. The Premium Paid Certificate must be produced while claiming tax returns if the premiums are paid online.

5. Helps to Generate a Large Corpus

   By investing in life insurance policies, the customers can generate large corpora for themselves that they can use in their senior years to meet unforeseen expenses or can be handed over to their families in the event of premature death of the customer.

India First Life Insurance Premium Rates

India First Life Insurance Company has a large and varied portfolio of products that provides different benefits. The customer can choose the policy that suits his needs. However, there are a few rules of thumb that determine an increase or decrease in premium rates. These are as follows:

• Age: The younger the customer, the lesser will be the premium amount.
• Sex: Women generally have the benefit of paying lower premiums than men.
• Sum Assured: Customers who invest a larger sum assured can enjoy lower premium rates.
• Tenure of the policy: Customers who choose a longer-term are awarded lower premium rates.
• Occupation of customers: Customers involved in high-risk occupations like fire fighting, mining, etc., are generally charged a higher premium rate.
• Term of Premium Payment: Policies that assure premiums to be collected over a longer duration of time have lower premium rates than those that have one-time investments or limited investments.

You may also like to read about Term Insurance

Note: Check all the best term insurance plan in India.

Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.

FAQs