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IndiaFirst Life Insurance offers 28 insurance plans to its individual and corporate clients, along with three exciting riders to cater to every requirement. The customer can choose from a range of options, depending on their requirements.
- Term Plans
- Investments Plans (ULIPs)
- Savings Plans
- Retirement Plans
- Child Plans
- Point of Sales Plans
- Micro-Insurance Plans
- CSC Plans
- Corporate Group Insurance Plans
IndiaFirst Life Insurance Term Insurance Plans
IndiaFirst Life Insurance offers three-term insurance plans to its customers, two of which are available online.
1. IndiaFirst Life Guaranteed Protection Plan: It is a comprehensive online term insurance plan at an affordable cost. This plan offers the maximum security for your family in case you are not around. Besides, it also offers a return of all the premiums paid by you if you survive the term. This plan comes with exciting rider options to cover critical illnesses and accidental death.
2. IndiaFirst Online Term Plan: This unique term insurance plan is available online. It is a simple term insurance policy that provides financial security to the family on the demise of the family breadwinner. It also comes with an accidental and total permanent disability rider.
3. IndiaFirst Life Plan: This term insurance plan provides life cover for a maximum period of 40 years and provides assured benefit to the family in the event of the unfortunate death of the insured person.
IndiaFirst Investment Plans – ULIPs
IndiaFirst Life Insurance has three ULIPs in its kitty that help people see their investment grow.
1. IndiaFirst Money Balance Plan: This ULIP gives you the best of both worlds, investment, and security. While ensuring to plan your money is transferred to safe funds, this ULIP provides life cover, thereby securing your family’s future.
2. IndiaFirst Smart Save Plan: This ULIP is different from the others because it offers you the option to redirect your premium from one fund to the other, thereby allowing you to maximise your income. Besides, you get life cover for the entire policy term.
3. IndiaFirst Life Wealth Maximiser Plan: This ULIP is unique because it offers a systematic partial withdrawal option after five years. It also allows unlimited switches to enable you to maximise your income. You can top up your premium to manage your increasing needs.
IndiaFirst Life Insurance Savings Plans
There are seven insurance plans on offer from IndiaFirst Life Insurance that help you save money while staying insured at the same time.
1. IndiaFirst Life Cash Back Plan: The advantage of this savings plan is that it offers long-term investment benefits by paying the premiums for a limited period. The security cover is more than ten times the annualised premium. Regular payouts help to meet your short-term and long-term goals.
2. IndiaFirst Maha Jeevan Plan: This savings plan allows you to accumulate your savings systematically through regular premium contributions. You can decide when to receive the payout between the 15th and 25th year. Guaranteed maturity amount, bonus additions, and terminal bonus enhance the overall payout. It comes with Opt-out rider and waiver of premium rider features.
3. IndiaFirst Simple Benefit Plan: This savings plan allows you to opt for small investments starting from Rs. 20,000. Insurance up to Rs. 2 lakhs is available over the counter. The plan offers a guaranteed maturity amount and bonus additions.
4. IndiaFirst Life Guaranteed Monthly Income Plan: This guaranteed monthly income plan enables you to receive between 105% to 125% of your annual premium payments as total payouts distributed every month. You get the option to start your payouts immediately after the payment years or wait for a couple of years more.
5. IndiaFirst Life Smart Pay Plan: This smart insurance plan allows you to pay for a shorter period and fulfil long-term goals. It also provides you with 103% of your annual premium as survival benefit. You get full insurance cover even if you miss one premium.
6. IndiaFirst Life-Long Guaranteed Income Plan: This unique savings plan offers the benefit of guaranteed income for life until you reach 99 years of age. You can add optional riders to receive enhanced benefits.
7. IndiaFirst Life Guaranteed Benefit Plan: This savings plan allows you to pay the premiums for a short term of 5, 6, or 7 years to help fulfil your long-term goals. You can choose from a variety of payouts like monthly income, annual income, and maturity benefit.
IndiaFirst Life Insurance Retirement Plans
IndiaFirst Life Insurance offers three retirement plans, of which two are available online. These plans allow you to save for your retirement years, thereby guaranteeing peace of mind.
1. IndiaFirst Guaranteed Retirement Plan: This online insurance plan enables you to invest at a regular pace to create a sizeable corpus that can give you peace of mind when you retire. The maximum policy term is 40 years. Hence, it is advisable to start investing early in life.
2. IndiaFirst Immediate Annuity Plan: This plan empowers you to choose your retirement age between 40 and 80 years. The Joint Life option to support your spouse in your absence is an excellent one. This plan allows you to choose from four different annuity options.
3. IndiaFirst Life Guaranteed Annuity Plan: This annuity plan is different as you can choose from 12 different annuity options. It offers benefits like ‘Return of Purchase Price,’ ‘Joint Life Last Survivor Annuity,’ ‘Deferred Life Annuity,’ and ‘Escalating Life Annuity’ to protect your family.
IndiaFirst Life Insurance Child Plans
IndiaFirst Life Insurance offers a unique child plan to secure your child’s future in case you are not there to do so as it grows up in life.
1. IndiaFirst Life Little Champ Plan: This plan secures your child’s future from unforeseen instances whereby it realises its life’s goals even when you are not available to offer financial support. This plan comes with an in-built waiver of premium in the case of your demise during the policy term.
IndiaFirst Life Point Of Sales Plans
IndiaFirst Life Insurance offers one POS plan named POS Cash Back plan. Here are its features:
1. IndiaFirst Life POS Cash Back Plan: This plan ensures that your family is financially secured and helps them meet short and medium term financial goals through regular assured payouts. The plan helps you boost your investment through guaranteed additions. You can also avail tax benefits on the premium paid for this plan.
IndiaFirst Life Insurance Micro Insurance Plans
IndiaFirst Life Insurance has two micro-insurance plans to cater to the growing insurance needs of the rural clientele.
1. IndiaFirst Life Micro Bachat Plan: Here is a simple savings plan that ensures financial protection to your family in your absence. There is an option to receive the sum assured at maturity with accrued bonuses. Your family has the option to receive the death benefit in one lump sum of five annual instalments.
2. IndiaFirst Life Insurance Khata Plan: This insurance plan is a simple endowment insurance policy where you have the option to pay a single premium and get coverage for five to ten years. You can also enhance the cover by paying multiple premiums.
IndiaFirst Life Insurance Common Service Centre Plans
IndiaFirst Life Insurance offers a low premium insurance plan to protect your family from life’s uncertainties.
1. IndiaFirst CSC Shubh Labh Plan: Enrolling into this plan is easy through your Aadhar number. You get a guaranteed minimum floor rate of 1% per annum on the account value during the policy term. Besides, you get additional interest @ 4% for the first five years and 0.5% for the subsequent years. Meanwhile, your life is insured throughout.
IndiaFirst Life Insurance Corporate Group Plans
Besides the individual plans discussed above, IndiaFirst Life Insurance offers the following group insurance plans for the benefit of its clients.
1. Pradhan Mantri Jeevan Jyoti Bima Yojana: This micro-insurance scheme designed by the Central Government provides financial security up to Rs. 200,000 in the case of unforeseen events. There is no maturity benefit in this plan.
2. IndiaFirst Life Group Life Plus Plan: This group insurance product offers four different cover options to choose from a) Life cover, b) Life cover plus Accidental Total Permanent Disability, c) Life Cover plus Accidental Death, and d) Life Cover plus Accidental Death plus Accidental Total Permanent Disability. Various premium options are available.
3. IndiaFirst Group Term Plan: This plan is voluntary with a minimum group size of 50. You have the liberty to add new members during the plan year. There is no maturity or survival benefit as it is a pure term insurance plan.
4. IndiaFirst Life Group Micro Insurance Plan: This micro-insurance group plan offers the choice between four covers, including life cover, accidental total permanent disability, and critical illness. You can also cover loan liabilities up to Rs. 2 lakhs. Besides, this plan offers a flexible cover from one month to ten years.
5. IndiaFirst Life Group Loan Protect Plan: Besides offering five cover options, this insurance plan covers up to 120% of your initial loan amount. There is an option to cover up to four lives under one policy.
6. IndiaFirst Life Group HospiCare Micro-insurance Plan: This group health plan provides financial support to the members on the diagnosis of COVID-19. Thus, it protects you financially from rising hospital costs.
7. IndiaFirst Group Retirement and Fund-Based Plans: There are six plans in this category to help employers to meet retirement solutions like gratuity, superannuation, and leave encashment. Besides, it also offers the additional benefit of life cover. The various plans include a) Group Superannuation Plan, b) New Corporate Benefit Plan, c) Employee Benefit Plan, d) Employee Welfare Plan, e) Guaranteed Annuity Plan, and f) Employee Pension Plan.
IndiaFirst Life Insurance Riders
IndiaFirst Life Insurance offers individual and group riders that customers can avail along with individual plans. The group riders include a) group critical illness rider, b) group additional benefit rider, c) group disability rider, and d) group protection rider. Besides, individual policyholders get the benefit of term riders and waiver of premium riders.
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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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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FAQ About IndiaFirst Life Insurance
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.