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.

The company offers several products that are designed to cater to the various needs of every individual and also provides various investment options.

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. But very few know the importance of choosing the plan as per your needs and requirements.

At, we have enlisted some essential parameters like Claim Settlement Ratio, Solvency Ratio, Annual Premium etc. Read along to find about those parameters

  1. 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 2019- 2020, Claim Settlement Ratio of the company stands at 96.65%.

    Claim Settlement Ratio of IndiaFirst Life Insurance from 2016-2020

    Claim Settlement Ratio Of India First Life Insurance from 2016-2020

    **Data from IRDAI Annual Reports

  2. 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 IndiaFirst Life Insurance company is 1.78.

    To help you understand better, we've created here a chart that illustrates the solvency ratio of IndiaFirst Life from the past four years.

    Solvency Ratio Of IndiaFirst Life Insurance Company from 2016-2020

    Solvency Ratio Of IndiaFirst Life Insurance Company from 2016-2020

    **Data from IRDAI Annual Reports

  3. 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 IndiaFirst Life Insurance Company from 2016-2020

    Annual Premium of IndiaFirst Life Insurance Company from 2016-2020

    **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
IndiaFirst Life Saral Jeevan Bima Plan
Investment Plans IndiaFirst Life Wealth Maximizer Plan
IndiaFirst Money Balance Plan
IndiaFirst Smart Save Plan
Traditional Money Savings Plan IndiaFirst Life Cash Back Plan
IndiaFirst Maha Jeevan Plan
IndiaFirst Maha Jeevan Plus Plan
IndiaFirst Simple Benefit Plan
IndiaFirst Life Guaranteed Monthly Income Plan
IndiaFirst Life Smart Pay Plan
IndiaFirst Life-Long Guaranteed Income Plan
IndiaFirst Life Guaranteed Benefit Plan
Child Plans IndiaFirst Life Little Champ Plan
Retirement Plans IndiaFirst Immediate Annuity Plan
IndiaFirst Life Guaranteed Annuity 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


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.

Find Out What Customers Are Saying

(Showing latest 5 reviews only)

- 4.9/5 (23 Total Rating)

September 29, 2021

Sameera qureshi


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

September 29, 2021

Akshay Dewan


Very good company. I choose to buy this company plan and that was a perfect decision. Super proud of my decision.

September 21, 2021

Nitish Kumar


I bought term insurance from IndiaFirst. The premiums are very affordable, and the company is very nice.

September 20, 2021



Its a good company. They have a good customer support team. Happy with my decision of buying this policy.

September 16, 2021

Rashmi Sharma


I am very impressed with the features of the plans, and the customer support team, they helped me alot.

Last updated on August, 2021

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