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Indiafirst Life Insurance
Indiafirst Life Insurance
IndiaFirst Life Insurance Company offers several products designed to cater to the diverse needs of individuals, ...Read More
What you get with Indiafirst Life Insurance
The headline features and policy mechanics, at a glance.
Annual Premium 7218.09 crores
Affordable premium options starting from entry-level to comprehensive whole-life protection.
98.04% claim settlement ratio
Industry-leading approval rate on eligible life insurance claims in the most recent fiscal year.
2x solvency ratio
Well above IRDAI's 1.5× floor — strong indicator of long-term claim-paying ability.
1+ optional riders
Extend a base policy with add-on covers — critical illness, accidental death, waiver of premium and more.
100+ pan-India presence
Branch offices and claim service centres across India for easy policy servicing.
IndiaFirst Life Insurance
IndiaFirst Life Insurance Company Limited is one of India's fastest-growing private life insurers, with a share capital of ₹754.37 crores. Since its establishment in 2009, IndiaFirst has been catering to customers' protection, savings, and retirement needs with its pocket-friendly and easy-to-understand products. IndiaFirst Life Insurance holds an impressive Claim Settlement Ratio of 97.04% as of March 31, FY 2022-23. The insurer's shareholders are the Bank of Baroda, Union Bank of India, and Carmel Point Investments India Private Limited. As of April 1, 2024, the insurer offered 29 life insurance products and 6 riders under the following categories: Participating, Non-Participating, Savings, Protection, ULIPs, Group Protection, and Corporate Funds plans. IndiaFirst has been rewarded with plenty of awards & accolades throughout its journey. For instance, in the Fest Leadership Awards 2023, they were awarded Best Customer-centric Company and the Economic Times's Best Brands in 2021.
IndiaFirst Life Insurance Company ensures to look after your insurance needs by offering:
Customer-centric plans
Pocket-friendly premiums
Tailor-made plans for every customer
Online available plans
Features of IndiaFirst Life Insurance
Solvency Ratio:
A company's solvency ratio indicates its ability to settle long-term debts. As per the IRDAI Annual Report 2022-23, IndiaFirst's Solvency Ratio is 2% (against the IRDAI mandate of 1.5%).
Claim Settlement Ratio:
A high claim settlement ratio ensures that your family receives the promised death benefits. IndiaFirst Life Insurance holds an impressive Claim Settlement Ratio of 97.04% as of March 31, FY 2022-23.
Assets Under Management:
A higher AUM indicates financial stability and reliability, meaning the insurer is better equipped to meet its future obligations to policyholders. As of March 31, 2023, IndiaFirst has an AUM of INR 21,683 crores.
Benefits of IndiaFirst Life Insurance Plans
IndiaFirst Life Insurance plans offer a plethora of advantages:
Death Benefit
Upon the unfortunate demise of the life insured during the policy term, IndiaFirst Life Insurance pays the death benefit, which is the highest of the following: 1.105% of the total premiums paid, or a guaranteed death benefit of 3.10 times the annual premiums.
Maturity Benefit
Some IndiaFirst Life Insurance plans offer maturity benefits for surviving the entire policy tenure.
Tax Benefits
All premiums paid for IndiaFirst Life Insurance can be claimed for tax benefits up to ₹1.5 Lakhs under Section 80C and up to ₹2.5 Lakhs under Section 10(10D) as per the Income Tax Act, 1961.
20% Instant Discount
IndiaFirst Life Insurance offers a 20% instant discount for purchasing their life insurance policies online.
No Restrictions on Travel/Occupation
IndiaFirst Life Insurance plans do not restrict travel anywhere in the world or future occupation changes; all eligible claims will be settled after submitting all the necessary documents.
Riders You Can Avail With Indiafirst Life Insurance Plans
Enhance your life plan with optional add-on riders for broader protection.
IndiaFirst Term Rider
This rider enhances your life cover with extra coverage at affordable prices. In case of the policyholder's demise during the policy tenure, additional benefits are paid to their nominee.
Documents required
For policy purchase and claim submission. Have these ready before you start.
Photo ID Proof Any one of the following
Passport, Aadhaar Card, PAN Card, Driving License.
Age Proof Any one of the following
Passport, Aadhaar Card, PAN Card, Driving License.
Address Proof Any one of the following
Utility Bill, Passport, Voter ID, Ration Card.
Medical Records Medical records of the policyholder, if requested.
Income Proof Any one of the following
Bank statement, last three months' salary slips (for salaried individuals).
How to Buy a Indiafirst Life Insurance Plan?
Step-by-step guides for the four key moments in your policy lifecycle. Click a tab to switch.
- Visit the PolicyX.com website or the Indiafirst Life Insurance official website to compare and choose a suitable life plan.
- Enter your personal details such as name, date of birth, gender, annual income, and smoking status to get a customised quote.
- Compare plan options — choose your sum assured, policy term, premium payment term, and any optional riders.
- Fill in the proposal form with your contact details, nominee information, and medical history accurately.
- Upload the required documents: identity proof, address proof, income proof, and recent photographs.
- Pay the first premium online via net banking, UPI, debit/credit card, or cheque.
- Complete the medical examination if required (depends on your age and sum assured).
- Receive your policy document via email and registered post after underwriting approval.
How to File IndiaFirst Life Insurance Claims?
Every claimant/nominee is assigned a dedicated Claims Relationship Officer who helps through the entire process. The life insurance claim settlement process at IndiaFirst Life Insurance involves the following three steps:
Online Process
1. Claim Intimation
Inform the company about the incident via various channels: either by writing an email to IndiaFirst Life at [email protected], calling the toll-free number (1800-209-8700), filling out the online claim form on its website, or visiting the nearest branch. A claim reference number/intimation number will be provided to you upon successful registration of the claim.
2. Document Submission
The policyholder needs to submit the documents requested by the insurer to process the claim. In case of natural death: death claim form, death certificate, original policy documents, claimant's identity & residence proof, medical records, and account details of the nominee. In case of an accidental death: the same documents with two additional ones: FIR and post-mortem report.
3. Claim Settlement
After receiving all the documents and claim forms, the insurer will verify the details as per their norms. If they require any additional details, they will contact you via call or email. On successful completion, the claim will be settled and the amount will be transferred to the nominee's bank account, and the same will be communicated to him/her over a call or an email.
Offline Process
IndiaFirst Life insurance claim settlement procedure can be reported by visiting the local IndiaFirst Life Branch Office. For details of IndiaFirst Life Insurance branches, you can visit their website and locate the nearest branch. You have to submit the essential documents at the branch so that your claim can be processed.
- Log in to the Indiafirst Life Insurance customer portal or the PolicyX.com dashboard before your policy renewal date.
- Review your existing policy details — coverage, premium amount, and nominee information.
- Choose to continue with the same plan or upgrade your sum assured if eligible.
- Pay the renewal premium online via net banking, UPI, debit/credit card, or cheque.
- Download the renewed policy document from your registered email or the insurer portal.
- Step 1: Visit the IndiaFirst official website and select a plan. Step 2: Share basic details like name, Date of Birth, contact number, gender, or email ID.
- Step 3: Share life cover, investment, or annuity details. Step 4: Generate a quote to estimate premiums and returns. Step 5: Pay through UPI or debit card online, or contact an IndiaFirst salesperson for more information.
- Once the payment is made, you will get a payment confirmation at your registered email address.
What's covered — and what's not
The standard inclusions and exclusions across Indiafirst Life Insurance plans. Specific plans may add benefits — always check the policy wording before purchase.
✗ Exclusions
- Death due to a pandemic such as COVID-19 or Ebola will not be covered by the company.
- Death due to indulging in adventure sports.
- Death due to consumption of drugs and alcohol.
- Death due to any pre-existing disease that was not declared at the start of the policy.
- If a policyholder commits suicide during the first 12 months after obtaining the insurance, the nominee receives no death benefit. They receive only the premiums paid up to the date of the incident or the policy's surrender value, whichever is greater.
Conclusion
IndiaFirst Life Insurance is among the prominent players in the life insurance sector. It offers a range of life insurance products designed to meet the diverse financial needs of individuals. With its customer-centric approach, it has established a reputation for providing affordable, flexible, and comprehensive insurance solutions. If you want to learn more about IndiaFirst life insurance plans, you can contact PolicyX.com at the toll-free number 1800-4200-269 or email us at [email protected].
Why Choose PolicyX.com?
Don't just take our word for it — check out what our happy customers say about us!
All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.
Ravindra SinghI highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.
Priti VarshneyI'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.
Nisha MaryI bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.
Ajay ShahPolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.
Vijay RathodI purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.
Uma MahajanFrequently asked questions
The 15 most-asked questions about Indiafirst Life Insurance, answered.
Customer satisfaction
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PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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