IndiaFirst Term plans are designed to establish a strong financial net against inflation and potential capital-related exigencies. IndiaFirst Term Insurance offers a wide variety of insurance plans, including term plans, as part of its product offering. In the following sections, we will discuss the term insurance plans offered by IndiaFirst Life Insurance Company in detail.
Key Features of IndiaFirst Term Insurance
Below enlisted 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:
Annual Premium: Annual premium of the company allows the policyholder to get an insight into the company's growth and performance. As per the IRDAI Annual report 2020-21, the Annual Premium of IndiaFirst Life Insurance is 4,055.50 crore.
Solvency Ratio: Solvency ratio of the company allows you to get an insight into the company's ability to settle long-term debts. As per the IRDAI Annual Report 2020-21, the Solvency Ratio of IndiaFirst is 1.76%. (Mandated to be 1.5 % by the IRDAI).
Claim Settlement Ratio: A high claim settlement ratio ensures that your family receives the death benefits promised and is thus enabled to continue leading a life of their choice. As per the IRDAI Annual Report 2020-21, the CSR of IndiaFirst is 96.81%
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IndiaFirst Term Insurance offers various benefits to the policyholders through its term plans to the customers. Let's take a look at the below-mentioned features of IndiaFirst Term Plans. Take a look:
Policyholders can equip their families and themselves against the demise of the primary earning member, accidental total permanent disability and critical/terminal illnesses.
Most term plans offered by IndiaFirst Life provide flexible premium payment, viz. Single, Regular or Limited Pay.
With the online purchase option, buyers can opt for comprehensive and personalized plans in an instant.
The death benefit payable by the insurance company is either done as lump-sum payouts or as monthly income for the family, depending on the plan option chosen by the policyholder at the time of inception.
IndiaFirst Life Insurance Term Plans in India
IndiaFirst Term Insurance offers a variety of term plans to satisfy the customer's needs. Let's take a closer look at the various types of IndiaFirst term plans:
IndiaFirst Life Guaranteed Protection Plan
India First Life Guaranteed Protection Plan is a comprehensive term cover option that comes with several features and offers financial security to your family in the unfortunate event of your death.
Return of Premiums of maturity
Coverage till 100 years
Spouse coverage under the same plan
IndiaFirst Life Plan
IndiaFirst Life Plan is a standard term plan, that is ideal for people looking for less complicated and affordable policies.
Life cover up to 40 years
Avail Tax Benefits
IndiaFirst Life Online Term Plan
As the name suggests, the plan is available online which makes it easier for the consumer to purchase at their convenience. Buyers can invest in this plan at the click of a button and tailor it according to their needs.
Yes, two of its term plans, viz. IndiaFirst Life Guaranteed Protection Plan and IndiaFirst Life Saral Jeevan Bima cover death claims arising out of COVID-19.
2. What is IndiaFirst's eligibility criteria for term insurance?
The minimum age for applying is 18 years and the maximum age for applying is 60 years* The maximum age at the end of the plan is 99 years# Minimum Sum Assured: Rs. 1,00,000. Maximum Sum Assured: Rs. 5,00,00,000
3. What is the claim settlement ratio of IndiaFirst Life Insurance Company?
The company maintained a CSR of 96.81% in the year 2019-20.
4. What is the maturity benefit offered with term insurance from IndiaFirst?
No, the current IndiaFirst Term Plans does not offer any maturity benefit. However, IndiaFirst Life Guaranteed Protection Plan offers a 'Return of Premium' option on surviving the policy term.
5. How I can pay the premium of IndiaFirst life insurance term plan? What are the modes of payment available?
You can pay the premium of the IndiaFirst Term plan through an online or offline medium. It offers the following modes of payment for paying the premium:
Through online Mode
Through Offline Mode
You can walk into the nearest branch of IndiaFirst Life Insurance to pay your premium.
6. How I can check the policy status of IndiaFirst Life term insurance plans?
Log in to your IndiaFirst Account using the designated User ID and password to check the status of your policy.
7. What is the procedure for canceling an IndiaFirst Life term insurance policy?
You can cancel a policy by filling out a duly filled surrender form and submitting it to the nearest branch office along with the surrender charges specified in the policy.
8. Do I have to pay the extra premium for the riders offered by IndiaFirst Life Insurance?
Yes, IndiaFirst Life Insurance term insurance riders are optional. You must pay an extra premium to receive the benefit of it.
9. What role does the IndiaFirst Life Insurance term insurance plan play in case of a critical illness?
If you are diagnosed with a critical illness, IndiaFirst Term Insurance will pay you a lump payment.
Indiafirst Term Insurance Reviews
Read what our customers have to say about Indiafirst term insurance company
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.
May 26, 2022
India First offers several term plans that ensure to look after your family s financial needs.
Good plans with affordable rates.
May 26, 2022
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
Best company. Amazing products with amazing services. The products offered also is very good and affordable
September 29, 2021
Very good company. I choose to buy this company plan and that was a perfect decision. Super proud of my decision.
September 21, 2021
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.
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