Indiafirst Life Insurance
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IndiaFirst Life Insurance

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.

Let us explore more about the company:

Key Features of IndiaFirst Life Insurance

Most of us are aware of the importance of having a life insurance policy however, very few know the importance of choosing the plan as per your needs and requirements. India First Life Insurance is one of the most trusted brands and works on the ethos of "Customer first philosophy". Some of the key features that make India First Life Insurance Policies a first choice are stated below:

  • India First encompasses a great legacy, being promoted by two large public-sector banks, Bank of Baroda (44.00% stake) and Union Bank of India (30.00% stake).
  • Technology is integrated across the pre-purchase, purchase, and post-purchase cycle, which in turn results in a seamless experience for all our stakeholders.
  • India First Life follows the ‘Customer First’ principle.
  • India First provides all consumers the type of products that are in sync with their individual needs and life goals.

At, we have enlisted some 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:

  1. IndiaFirst Life Insurance Claim Settlement Ratio

    Before investing in any life insurance plan, do not forget to check the company's claim settlement ratio. The ratio helps you to understand claim settling ability of the company.

    As per the IRDAI Annual Report 2020-21, the Claim Settlement Ratio of the company stands at 96.81%.

    Claim Settlement Ratio of India First Life Insurance

    Claim Settlement Ratio Of India First Life Insurance from 2018-2021

    **Data from IRDAI Annual Reports

  2. IndiaFirst Life Insurance Solvency Ratio

    Solvency ratio of a company helps you to analyse its ability to meet its debt obligations and other financial commitments. As per the Insurance Regulatory And Development Authority of India (IRDAI), it is mandatory for every life insurance company to maintain a solvency ratio of 1.5.

    At present, the solvency ratio of India First Life Insurance company is 1.76

    To help you understand better, we've created here a chart that illustrates the solvency ratio of India First Life Insurance Company.

    Solvency Ratio Of IndiaFirst Life Insurance

    Solvency Ratio Of IndiaFirst Life Insurance Company from 2018-2021

    **Data from IRDAI Annual Reports

  3. IndiaFirst Life Insurance Annual Premium

    By looking at the annual premium of the company, you can analyze the growth of the company

    Take a look at the below graph that showcases the change of annual premium in IndiaFirst Life Insurance in the last few years.

    Annual Premium of India First Life Insurance

    Annual Premium of IndiaFirst Life Insurance Company from 2018-2021

    **Data from IRDAI Annual Reports

Types Of Plans Offered By IndiaFirst Life Insurance

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.

Product Category Plans Available
Term Plans Online Term Plan
IndiaFirst Life Plan
IndiaFirst Life Guaranteed Protection Plan
Online Plans Online Term Plan
India First Life Guaranteed Annuity Plan
India First Life Guaranteed Protection Plan
India First Life Guaranteed Retirement Plan
Investment Plans IndiaFirst Life Wealth Maximizer Plan
IndiaFirst Money Balance Plan
IndiaFirst Smart Save Plan
Traditional Money Savings PlanIndiaFirst Maha Jeevan Plus Plan
IndiaFirst Life-Long Guaranteed Income Plan
India First Life Fortune Plus Plan
Child Plans IndiaFirst Life Little Champ Plan
Retirement Plans IndiaFirst Immediate Annuity Plan
India First Life Guaranteed Pension Plan
IndiaFirst Guaranteed Retirement Plan
Point of Sale Policy(POS) IndiaFirst Life POS CashBack Plan
Common Service Center Plan IndiaFirst CSC Shubhlabh Plan
Micro Life Insurance Plan IndiaFirst Micro Bachat Plan
IndiaFirst Life "INSURANCE KHATA" Plan (Micro Insurance Product)
SARAL Plans IndiaFirst Life Saral Jeevan Bima Plan
IndiaFirst Life Saral Pension Plan
Riders IndiaFirst Term Rider
IndiaFirst Life Waiver of Premium Rider

**Last Updated on August, 2021

How To File a Claim Under IndiaFirst Life Insurance Policy?

With IndiaFIRST Life Insurance, one has the option to register for a claim via any of the subsequent channels:

  • Register your claim online through the official website.
  • Or you can avail for offline ways such as visiting the nearest branch along with copies of all the required documents.

The claim process is as follows:

  • Claim Registration
  • Claim assessment, where all your details will be scrutinised and you will receive an acknowledgement letter with a unique claim number to track the status.
  • Claim Settlement within 15 calendar days

Documents required to process Individual Life Claims are:

  • The policy document(s)
  • Claim form
  • The original death certificate or the attested copy of the death certificate
  • Copy of the ID and address proof
  • Copy of bank passbook plus cancelled cheque
  • Copies of age and identity proof of the life assured
  • Copies of FIR, Post mortem report, Panchnama attested by police in case of unnatural death of the life assured
  • Copy of the hospitalization documents in case of death due to critical illness

How To Contact IndiaFirst Life Insurance Company

For Customer Service, call the experts at 1800 209 8700 (toll-free)

Monday to Saturday- 9 am to 7 pm.

WhatsApp Number: 022-62749898

Email Address:

For Service Requests

For Claims

IndiaFirst Life Insurance: FAQ's

1. Can I surrender my IndiaFirst Life Plan? If yes, is there any surrender value applicable?

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.

2. I have not been able to pay my premiums regularly. Can I revive my IndiaFirst Life Plan?

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.

3. Will partial withdrawals made under the IndiaFirst Money Balance Plan impact death benefit?

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).

4. What happens if the life assured under IndiaFirst Term Rider commits suicide?

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.

5. What if I miss the premium payment date of IndiaFirst Life Cash Back Plan insurance policy?

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.

6. Can I avail loan under IndiaFirst Life Cash Back Plan?

No, a loan facility is not provided under this life insurance policy.

7. Will I get any refund if I cancel my IndiaFirst Maha Jeevan plan?

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).

8. Can I opt for any Riders with IndiaFirst Life Guaranteed Benefit plan?

Yes, you can opt for IndiaFirst Life Waiver of Premium Rider if your premium paying term is of 6 and 7 years.

9. Is there any death benefit under the IndiaFirst Immediate Annuity Plan?

In case of the death of the annuitant, the nominee will receive the purchase price amount under the Return of Purchase Price option.

10. Can I increase my annuity payments under the IndiaFirst Life Guaranteed Annuity Plan?

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.

11. How I can pay the premium of the India First Life Insurance plan?

You can pay the premium of the India First Life Insurance plan online as well as offline.

12. What are the payment modes offered by India First Insurance?

India First Life Insurance company offers the following payment mode for paying the policy premium:

Online Mode

  • Netbanking
  • Debit Card
  • Credit Card
  • Electronic Clearing System (ECS)

Offline Mode

  • Cash/Cheque at the nearest branch of the company

13. How I can check the status of my India First Insurance plan?

To check the status of the policy, follow the below-mentioned steps:

  • Login to the IndiaFirst account with your user ID and password.
  • Enter the policy number and other required information.
  • The next tab will show you all the relevant details related to your policy.

14. What types of insurance plans are offered by India First Life Insurance company?

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.

15. How do I revive a lapsed policy by India First Insurance company?

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.

Find Out What Customers Are Saying

(Showing latest 5 reviews only)

- 4.9/5 (32 Total Rating)

July 11, 2022

Prerna Kumari


Good company. Presents nice term insurance plans and flexible plans also. My husband has brought one for the family.

July 11, 2022

Priya Sangwan


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.

May 26, 2022

Priya Jaiswal


India First offers several term plans that ensure to look after your family s financial needs. Good plans with affordable rates.

May 26, 2022

Simran Kapoor


Very nice company. IndiaFirst offers several life insurance products that allow you to secure the financial needs of your family. Really satisfies with the plans offered,

September 29, 2021

Sameera qureshi


Best company. Amazing products with amazing services. The products offered also is very good and affordable

Last updated on August, 2021

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