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IndiaFirst Life Insurance

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IndiaFirst Life Insurance
Claim Settlement Ratio96.81%
Customer CareMon to Sat 9AM to 7PM
Death Benefit Paid For2,166 Policies
Presence28 Branches
Total Death Benefit PaidRs. 70.17 Crore

IndiaFirst Life Insurance, initially, which was a joint venture between Bank of Baroda, Andhra Bank and Legal & General, was formed in November 2009 as the 22nd private entrant into the Life Insurance industry. The last-named partner sold its stake to Carmel Point Investments India Private Limited in February 2019. Subsequently, Andhra Bank was amalgamated into Union Bank of India in April 2020. Thus, the present shareholding of the company is Bank of Baroda with 44%, Union Bank of India with 30%, and Carmel Point Investments India Private Limited with 26%.

The company offers 28 insurance products and three riders for a total of 31 plans through its 28 branches situated across India. Besides, the company uses the services of the bank branches of its member banks to market its products. IndiaFirst Life Insurance places its customers before everything else. It is evident from the excellent claim settlement ratio of 96.65%.

IndiaFirst Life Insurance has won awards in various categories, including "Great Place To Work-Certified" in 2019 and 2020, ACEF Grand Prix Award for its best social media campaign in 2019. Besides, IndiaFirst Life Insurance had also won the award for Customer Excellence in Insurance Sector in 2019.

Types Of IndiaFirst Life Insurance Plans

IndiaFirst Life Insurance offers 31 different insurance products, including group insurance plans and riders.

1. Term Plans: IndiaFirst Life Insurance offers three exciting term insurance plans that enable you to secure your family's financial condition in the event of your unfortunate demise. Besides offering the benefit of high coverage at a low premium, IndiaFirst Life Insurance offers the return of premiums paid if you survive the policy term. The term insurance plans offered by IndiaFirst Life include Guaranteed Protection Plan, Online Term Plan, and Life Plan.

2. Investment Plans: IndiaFirst Life Insurance has three ULIPs on offer that helps you to maximise your investment while providing life insurance cover at the same time. Thus, you stay covered while your investment keeps growing at the same time. The insurer offers 3 investment plans to the customers, namely Money Balance Plan, Smart Save Plan, and Wealth Maximiser Plan.

3. Savings Plans: IndiaFirst Life Insurance has seven traditional savings insurance plans that allow you to build up the maturity amount gradually while enjoying the insurance coverage benefits from the first day. The company also offers money-back policies to help you tide over financial difficulties during the policy term. The savings plans offered by the insurer are Cash Back Plan, Maha Jeevan Plan, Simple Benefit Plan, Guaranteed Monthly Income Plan, Smart Pay Plan, Guaranteed Benefit Plan, and Life-Long Guaranteed Income Plan.

4. Retirement Plans: Three retirement plans are available from IndiaFirst Life Insurance that helps you to build up a corpus to secure your financial position after you retire from service. These include Guaranteed retirement Plan, Immediate Annuity Plan, and Guaranteed Annuity Plan.

5. Child Plans: IndiaFirst Life Insurance offers financial security to your children by helping them to realise their career dreams even when you are not around to care for them. The insurer offers one child plan named Little Champ Plan.

6. POS Plans: IndiaFirst Life Insurance POS plans are unique as you get the benefit of protection and savings in a single plan. The insurer offers one plan under this category named POS Cash Back plan.

7. Common Service Centre Plans: IndiaFirst Life Insurance offers a CSC Shubh Labh plan, a low premium insurance plan that allows your investment to grow while providing you with life cover.

8. Micro Insurance Plans: IndiaFirst Life Insurance offers two micro insurance plans namely Micro Bachat Plan and Life Insurance Khata Plan, keeping in mind its customers residing in rural areas. It helps them to invest as well as to get adequate life cover to protect their families in the event of their demise.

9. Corporate Group Plans: IndiaFirst Life Insurance offers a range of group insurance plans to enable corporate and other employers to take care of the insurance requirements of their employees. It also helps the employees to secure their loan liabilities and enables the employers to meet the retirement obligations of their employees. These plans are Pradhan Mantri Jeevan Jyoti Bima Yojana, Group Life Plus Plan, Group Term Plan, Group Micro Insurance Plan, Group Loan Protect Plan, and Group HospiCare Micro-insurance Plan.

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Disclaimer :
1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification

User Reviews

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What users are saying
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  • Anytime Assistance

    The 24x7 helping policy of InsuranceDekho is awesome. I got the service to reach the support team at any time and buy life insurance plans easily in my comfort. Thanks to the insurance experts for suggesting the IndiaFirst Life Insurance plan to me. I am happy with my purchase.

    By Kanika Shukla
    On: Feb 13, 2024
  • Multiple Payment Modes

    While buying the IndiaFirst Life Insurance plan on InsuranceDekho, there are various payment options available. So, I easily picked a convenient payment option for me while buying the IndiaFirst Life Insurance plan from InsuranceDekho

    By Madhu Awasthi
    On: Dec 13, 2023
  • User-Centric Approach

    After buying the IndiaFirst Life Insurance Policy and feel that the InsuranceDekho's user-centric approach is evident in every aspect of their service. They truly prioritize the needs and well-being of their customers.

    By Preeti dayal
    On: Nov 15, 2023
  • Incredible Support

    The support team at InsuranceDekho is not only knowledgeable but also empathetic. They walked me through every step while I was buying the IndiaFirst Life Insurance Policy, making me feel valued as a customer.

    By Mamta Sharma
    On: Sep 27, 2023
  • A Trusted Partner for Life

    InsuranceDeko has become a trusted partner in securing my family's future. Their IndiaFirst Life Insurance Policy aligns perfectly with our financial goals.

    By Alia Bakshi
    On: Sep 18, 2023

Life Insurance News


  • What types of insurance plans does IndiaFirst Life Insurance offer?

    IndiaFirst Life Insurance offers an exciting range of insurance plans like term insurance, investment plans, savings plans, retirement plans, etc., to cater to every requirement of its customers. 

  • How does IndiaFirst Life Insurance reach out to its customers?

    IndiaFirst Life Insurance has 28 branches situated across India. Besides, it utilises the branch network of Union Bank of India and Bank of Baroda to reach out to its customers.

  • Does IndiaFirst Life Insurance offer the facility to pay premium online?

    Yes, IndiaFirst Life Insurance offers its customers the facility to pay the premiums and renew insurance policies online.

  • How is IndiaFirst Life Insurance’s claim procedure?

    IndiaFirst Life Insurance offers a customer-friendly claim procedure to ensure that the nominee/claimant gets the claim amount without any hassles.

  • Does IndiaFirst Life Insurance offer the facility of online insurance?

    Yes, IndiaFirst Life Insurance offers four online insurance plans.