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Claim Settlement of IndiaFirst Life Insurance
IndiaFirst Life Insurance has a simplified claim settlement procedure that allows the claimant/nominee to register and track their claims with ease. This simple 3-step process is amongst the most comfortable in the insurance sector. Besides, IndiaFirst Life Insurance takes pride in clearing all legitimate claims within one working day if all the documents are in order. The company has achieved a claim settlement ratio of 96.81% for individual claims in the financial year 2020-21.
How To Make Claim
IndiaFirst Life Insurance Online Claim Settlement Process
The three-step IndiaFirst Life Insurance claim settlement process is as simple as detailed below:
Step 1: Claim Registration: The nominee/claimant visits the IndiaFirst Life Insurance claim registration webpage to register the claim online. The procedure involves entering the policy number, the date of birth, the nature of the claim, and the date of demise to continue with the registration. This process is complete with the sending of the soft copies of the necessary documents by email.
Step 2: Claim Assessment: IndiaFirst Life Insurance assesses the documents to confirm the correctness of the submission. It can ask for further documents if necessary. The company shares an acknowledgement number that the claimant can use to track the claim online.
Step 3: Claim Settlement: The company processes and settles the claim within 15 days if the claim does not warrant any further investigation and all the documents are in order. IndiaFirst Life Insurance shares information through email, SMS, or regular correspondence.
IndiaFirst Life Insurance Offline Claim Settlement Process
The nominee/claimant can call IndiaFirst Life Insurance at the toll-free number 1800-209-8700 where the representative will guide them through the claim registration process. The nominee can also visit the nearest IndiaFirst Life Insurance branch or bank branch of Bank of Baroda or Union Bank of India along with all the soft and hard copies of the documents to register the claim. On receipt of the documents, the company scrutinizes them and decides on the claim within 15 days of its submission.
Here is the list of documents necessary for the processing of IndiaFirst Life Insurance claims.
Death Claim – natural death
- Claim form completed and signed
- Copy of death certificate
- Copy of ID and address proof of nominee/claimant
- Copy of bank passbook of nominee/claimant along with a cancelled cheque
Death Claim – In case of hospitalisation
All the documents mentioned above plus the following
- Discharge/Death Summary
- Investigation/Diagnostic reports
- Hospital Summary/Indoor Case sheets
Death Claim – Unnatural Cases
The essential documents for the claim plus,
- Copy of FIR
- Copy of Post-mortem report
- Copy of Panchanama report
Latest News on IndiaFirst Life Insurance
- A waiver of charge rider is a protection strategy condition that forgoes premium installments if the policyholder turns out to be basically sick, truly harmed, or debilitated. Different specifications might apply, for example, meeting explicit wellbeing a
- IndiaFirst is an organisation providing many financial services in India since its incorporation in the year 2009. The life insurance company is also in collaboration and being promoted by Andhra Bank, Bank of Baroda along with the United Kingdom’s leadin
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Life Insurance News
A waiver of charge rider is a protection strategy condition ...31 August 2021
IndiaFirst is an organisation providing many financial servi...16 July 2021
IndiaFirst Life Insurance User Reviews
Claim Process at IndiaFirst Life Insurance
Claim IntimationIn the event of the death of the life assured, the insurance company should be intimated as early as possible.
Submission of DocumentsFor easy claim settlement, claim form, original policy document, death certificate and others documents should be submitted on time.
Claim EvaluationAfter successful submission of documents, the insurance company will thoroughly evaluate the claim filed.
Claim SettlementIf claim request is approved, claim is settled within 30 days. In case of additional investigation, claim process may take 120 days.
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IndiaFirst Life Insurance Claim Settlement FAQs
Who can be a nominee in an IndiaFirst Life Insurance plan?
The policyholder can nominate any person as a nominee to receive the insurance claim amount. Generally, the nominee is the next of kin.
Can the nominee be a minor in the case of IndiaFirst Life Insurance plan?
Yes, the nominee can be a minor. Under such circumstances, the insured person names another person to receive the claim on behalf of the minor nominee.
How long does IndiaFirst Life Insurance take to decide on insurance claims?
IRDA guidelines stipulate a maximum period of 15 days for deciding on insurance claims. IndiaFirst Life Insurance honours many claims within one day, as well if the documents are in order.
How will the nominee receive the insurance money from IndiaFirst Life Insurance?
IndiaFirst Life Insurance credits the claim amount to the nominee/claimant’s bank account.
Can the policyholder lodge a claim with IndiaFirst Life Insurance?
Yes, in the case of health plans and other maturity plans, the policyholder can lodge the claims. The nominee can lodge the claim only on the death of the insured person.