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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.
IndiaFirst Life Insurance Term Plans
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:
Comprehensive Plan
A pure term plan insurance that offers flexible premium payment options, and innovative coverage features and return of premium option.
Unique Features
Protection Plan
A pure-term insurance plan offering comprehensive coverage at affordable rates, with options for premium payment throughout the policy term.
Unique Features
Protection Plan
Online plan with 4 plan options offering coverage for the 1st & 2nd child's birth or adoption and home loan.
Unique Features
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:
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:
One should choose IndiaFirst Term Insurance to deal with life's uncertainties because the plan offers financial security for the policyholder's family and will help them with long-term needs after his passing. Here are some justifications for purchasing their term insurance.
Term insurance is an essential investment for the people, who have people dependent on them financially. Here is the list of people who should consider getting a term cover:
To offer you an estimate on the premiums payable against a sum assured of Rs. 1 Crore, we have presented sample premium illustrations of term insurance plans offered by, IndiaFirst Life Insurance.
For this instance, we considered a 30-year-old, non-smoker male who has opted to assure a sum of Rs. 1 Crore for a policy period of 30 years. We have indicated the monthly premiums that this person will have to pay against each plan mentioned in the table below.
Sum Assured (in Rs.) | 50 Lakhs | 75 Lakhs | 1 Crore |
Premium Payable (in Rs.) | 9,617 | 14,426 | 19,042 |
**Premiums calculated for a 30-year-old, non-smoker male, who opted for an India First Life Guaranteed Protection for a policy period of 50 years.
Sum Assured (in Rs.) | 50 Lakhs | 75 Lakhs | 1 Crore |
Premium Payable (in Rs.) | 5,550 | 4,961 | 10,762 |
**Premiums calculated for a 30-year-old, non-smoker male, who opted for an India First Life Online Term plan for a policy period of 40 years.
Let's take a look at your options to invest in a best term insurance plan offered by IndiaFirst.
With IndiaFirst Term Insurance, one can easily get their claim settled in 3 easy steps. The claim process is as follows:
1. Claim Registration
You can register your claim online by visiting the official website or you can avail of offline ways such as visiting the nearest branch and copies of all the required documents.
2. Claim Assessment
All your details will be scrutinised and you will receive an acknowledgement letter with a unique claim number to track the status.
3. Claim Settlement Within 15 Calendar Days
Once all the documents are submitted, the company will settle your claim within 15 days. Documents required to process Individual Life Claims are:
For Service: customer.first@indiafirstlife.com
For Claim: claims.support@indiafirstlife.com
Toll-Free Number: 1800 209 8700
(Monday to Saturday- 9 am to 7 pm.)
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.
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
The company maintained a CSR of 96.92% in the year 2021-22.
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.
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.
Log in to your IndiaFirst Account using the designated User ID and password to check the status of your 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.
Yes, IndiaFirst Life Insurance term insurance riders are optional. You must pay an extra premium to receive the benefit of it.
If you are diagnosed with a critical illness, IndiaFirst Term Insurance will pay you a lump payment.
These term plans stand out due to their unique features and benefits. The plan offers competitive premium rates, customizable coverage options, flexible payout choices, and additional riders such as accidental death benefits, critical illness cover, and disability benefits.
The plans offered by the company are:
The company is backed by two nationalized banks they are:
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