IndiaFirst Life Insurance Company started out as a joint venture between two public sector banks of India - Bank of Baroda and Andhra Bank (now Union Bank Of India), and one of the UK's financial and investment companies Legal & General. With its incorporation in November 2009, IndiaFirst Life established its headquarters in Mumbai.
India First Insurance Company offers several products that are designed to cater to the various needs of every individual and also provides various investment options. A diversified suite of over 42 need-based products (as of 31st March 2021) catering to varied customer segments, leveraging multiple distribution capabilities and augmenting various investment options. In all, propositions under the categories of Protection, Assured Savings, Wealth, Pension, Health, and Group Funds for Employee Liabilities. The company continues to be one of the fastest-growing private insurance players in the industry with a 5-year-CAGR of 32% (individual new business APE) which is approximately 2.8 times that of the overall life insurance industry in India.
India First Life Insurance is one of the most trusted brands and works on the ethos of a "Customer first philosophy". Some of the key features that make India First Life Insurance Policies a first choice are stated below:
Let us explore more about the company:
Below are some of the essential parameters like Claim Settlement Ratio, Solvency Ratio, Annual Premium, etc. to help make you an informed decision before investing in insurance plans. Read along to find out about those parameters:
The company offers multiple plans that take care of your family in your absence or look after your needs in the golden years of your life.
Take a look at the below table to explore all the plans offered by the company.
Perhaps the biggest worry a family provider has is their loved one's financial stability in his/her absence. Term Insurance plans are designed as a saviour for such situations, where the insured person will be covered for a certain duration, wherein if (s)he dies, the nominee will receive the death benefit along with other benefits as per the insurance plan.
|Plan||Entry Age||Maximum Maturity Age||Policy Tenure|
|e-Term Plus Plan||18-65 years||80 years||40 Years for all coverage options.|
|IndiaFirst Life Plan||18-60 years||70 years||5-40 years|
|IndiaFirst Life Guaranteed Protection Plan||18-65 years||NA||1 month to 81 years|
Know More About: IndiaFirst Term Insurance Plans
You can continue to live a carefree life even after your retirement with pension plans to back up your living expenses. This will not just help you maintain your living standards but will also allow you to fulfill all your desires by investing wisely and monitoring the investments on a timely basis. Let's find out more about them.
|Plan Name||Entry Age||Minimum Annuity||Maximum Annuity|
|Guaranteed Pension Plan||45-80 years||Rs. 1000||Rs. 12,000|
|Guaranteed Retirement Plan||25-70 years||NA||NA|
|Immediate Annuity Plan||0-80 years||Rs. 1000||Rs. 12,500|
|Guaranteed Annuity Plan||40-80 years||Rs. 1000||Rs. 12,500|
You can fulfill your child's dream with the help of child plans. These plans offer you regular guaranteed payouts that will help you secure your child's future even in your absence. This comprehensive financial protection will help them achieve the key milestones of their lives without any financial burden. Let's find out more about the plan.
|Plan Name||Entry Age||Maturity Age||Premium Payment Tenure|
|Guaranteed Pension Plan||21-45 years||65-70 years||7-14 years|
If you want a financial cover that gives insurance for life along with endless returns, then this is your saviour. With investment plans, you can invest in your choice of funds and get market-linked returns. Some of the plans under this policy are:
|Plan Name||Entry Age||Maturity Age||Policy Tenure|
|Life Wealth Maximizer Plan||5-65 years||18-75 years||10-70 years|
|Money Balance Plan||5-65 years||18-90 years||10/15/20 years|
|Smart Save Plan||0-65 years||18-99 years||10/15/20/25 & 30 years|
With IndiaFIRST Life Insurance, one has the option to register for a claim via any of the subsequent channels:
The claim process is as follows:
Documents required to process Individual Life Claims are:
For Claims: firstname.lastname@example.org
1800 209 8700 (toll-free)
Yes, you have the flexibility to surrender your IndiaFirst Life Plan. For policyholders paying a regular premium, there is no surrender value payable. However, for the policyholders who have paid a single premium, the surrender value is only applicable if you surrender after the second policy year and before the end of your policy tenure.
Yes, you can revive your plan within a specified period of 5 years. This can be done by simply paying the pending premium amount or by beginning to make regular payment of premiums.
Yes, the sum assured paid as death benefit will be reduced by the amount equal to the partial withdrawals (only if the partial withdrawals were made 24 months prior to the death of the life assured).
If the life assured has committed suicide within the first 12 months of the policy, the beneficiary will receive at least 80% of the premiums paid or the surrender value, whichever is higher.
IndiaFirst Life Insurance Company provides you with a grace period if you have missed the payment on the due date. The grace period is of 30 days for yearly, half-yearly, and quarterly frequencies of payment and 15 days for monthly frequency.
No, a loan facility is not provided under this life insurance policy.
Yes, you will receive a refund if you cancel your insurance policy. However, the amount refunded will deduct pro-rata risk premium for the time of the policy, any stamp duty paid, and expenses that were incurred on medical examination (if any).
Yes, you can opt for IndiaFirst Life Waiver of Premium Rider if your premium paying term is of 6 and 7 years.
In case of the death of the annuitant, the nominee will receive the purchase price amount under the Return of Purchase Price option.
Yes, you can increase your annuity amount with the help of the top-up option. However, the annuity rate will be based on the age of the life assured at the time of availing of the top-up option.
You can pay the premium of the India First Life Insurance plan online as well as offline.
India First Life Insurance company offers the following payment mode for paying the policy premium:
To check the status of the policy, follow the below-mentioned steps:
India First Life Insurance company offers a wide range of insurance plans such as term insurance plans, investment plans, savings plans, retirement plans to meet every requirement of the customers.
you can revive your India First Life Insurance policy by paying your pending premiums. The policy can be revived within 6 months of the last unpaid premium.
Compare and buy the most suitable Life Insurance Plan from the below-mentioned IRDAI-approved Life Insurance companies.
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May 1, 2023
I seek help from PolicyX when it comes to purchasing any kind of insurance because they provide me with the best quotes and options for insurance
December 14, 2022
PolicyX has a smooth service from booking policy to verification. Employees are very patient and have good knowledge and help you throughout the process. Had great experience dealing with them
December 9, 2022
I had many confusions regarding the term policies . But Policyx has handled it well, m happy that they are my wayfarer in this journey.
July 11, 2022
Good company. Presents nice term insurance plans and flexible plans also. My husband has brought one for the family.
July 11, 2022
IndiaFirst Term Insurance company ensures that your family s needs are looked after. One of the best companies offers a term plan per your needs.
July 6, 2022
I recently received the claim amount of the policy that my husband had brought for us. I am glad that the company understands the needs of its customers and their families. Well done Canara HSB...
July 6, 2022
I bought a term plan with Canara HSBC for the protection of my family and have been satisfied with the benefits received. It is simple and easy to buy their plans.
July 6, 2022
I am very happy with the term plans offered by the Canara HSBC Life Insurance company. The plans offer comprehensive coverage and I am sure will support my family after my demise.