IndiaFirst Life Insurance is the youngest insurance company in India which was established in the year 2009. IndiaFirst Life Insurance is the collaboration of Bank of Baroda, Andhra Bank and Carmel Points Investments India Private Limited. 43.30% of company’s stake is held by Bank of Baroda, 29.53% stake is held by Andhra Bank and the remaining 27.17% of stake is held by Carmel Point Investments India Private Limited. The company serves a retail customer base of 10 lakhs with assets under management (AUM) as on 31st March 2019 of INR 15,000 crore. 

Important Facts about IndiaFirst Life Insurance

  • The company offers a diversified product portfolio that includes 35 need-based products suitable for various customer segments. Category of products includes protection plans, wealth plans, pension plans, assured savings plans, health plans and group plans
  • The company has received ‘’customer excellence in insurance sector’’ award
  • The company has received ‘’customer service provider of the year 2019’’ at Indian Insurance Summit
  • The company has received ‘’Best Social Media Brand in BFSI (Insurance) award 2019’’
  • The company has received ‘’The economic times best brands 2018’’ award for excellence in BFSI
  • The company has been awarded as ‘’Bancassurance leader of the year 2017’’ award at National awards for insurance excellence
  • The company has been awarded as ‘’Best life insurance company’’ at National awards for marketing excellence by Times network 
  • The company has received ‘’Best life insurance company’’ by World HRD Congress in the private sector category 
  • The company has received ‘’Social inclusion award’’ by Fintelekt for demonstrating excellence in terms of reach, business-volumes, focused product offerings and innovative business models

Benefits of IndiaFirst Life Insurance

Following are the benefits of IndiaFirst Life Insurance plans –

  1. Comprehensive protection: IndiaFirst Life Insurance Company offers a variety of insurance products to protect you and your family against the uncertainties of life by offering financial security
  2. Need-based, product customisation: The Company offers various insurance products with customisable features. There are term plans to provide adequate life protection, wealth and savings to offer a combination of wealth creation and life protection and retirement plans to secure golden years of life. Every product comes with flexible features which allows you to customise the plan based on your individual or family needs
  3. Helps to achieve long-term goals: Be it for securing retirement life, securing children’s future or to achieve any long-term goals such as for dream vacation etc, there are plans for each unique and long-term financial goals
  4. Convenience:IndiaFirst Life Insurance Company is known to offer absolute convenience in every process. Most of the plans are available online with a simple buying process. Digital presence has made it more convenient for its customers
  5. Quick claim settlement: As claims can be registered online with certain simple procedures along with with round the clock assistance from the customer support team, the entire process of claim settlement is quite quick with the IndiaFirst Life Insurance Company
  6. Excellent customer service: The company is known to offer best in class after-sale services with its 24/7 customer support over the call and also on the digital platform
  7. Tax benefits: Premium paid for IndiaFirst Life Insurance plans qualify for tax deduction under Section 80C of the Income Tax Act, 1961. Lump-sum proceedings from the insurance plans are also exempt from income tax under Section 10 (10D) of the Income Tax Act

Types of IndiaFirst Life Insurance Plans

IndiaFirst Life Insurance Company has a diversified product portfolio to offer. Following are the category of products offered by the company –

  • Term plans
  • Savings plans
  • Child plans
  • Investment plans (ULIPs)
  • Retirement plans
  • Common service centre plans (CSC)
  • Point of sale (POS) plans

Let’s learn more about various plans offered under each category.

IndiaFirst Term Insurance Plans

Term plans of IndiaFirst Life Insurance Company ensure the financial stability of your family is under control even when you are not around. The plans are tailor-made to suit the financial needs of every family with complete protection.

1. IndiaFirst Life e-Term Plan

IndiaFirst Life e-Term plan is a non-linked, non-participating term insurance plan that offers complete financial protection to insured’s family in an unfortunate event like death, accidental total permanent disability and critical illnesses. The plan comes with attractive and customisable features to suit various unique protection needs of people.

Features of IndiaFirst Life e-Term Plan

  • Comprehensive protection at an affordable cost with multiple coverage options. There are 8 different coverage options to choose from – Life benefit, Income benefit, Income plus benefit, Income replacement benefit, Accident shield benefit, Disability shield benefit, Critical illness protector benefit, Comprehensive benefit
  • Flexibility to choose from multiple benefit payout options
  • Facility to enhance sum assured at various stages of life such as marriage, childbirth and availing home loan etc
  • Eligibility Criteria for IndiaFirst Life e-Term Plan

    Criteria 

    Minimum

    Maximum

    Entry age

    18 years

    55 years

    Maturity age (for each coverage option)

    Life Benefit Option

    NA

    80 years

    Income Benefit Option

    80 years

    Income Plus Benefit Option

    80 years

    Income Replacement Benefit Option

    60 years

    Accident Shield Benefit Option

    65 years

    Disability Shield Benefit Option

    65 years

    Critical Illness Protector Benefit Option

    65 years

    Comprehensive Benefit Option

    65 years

    Policy term

    10 years

    40 years

    Premium paying term

    Same as policy term

    Sum Assured

    Life Benefit Option

    INR 50 lakhs

    No limit

    Income Benefit Option

    INR 50 lakhs

    No limit

    Income Plus Benefit Option

    INR 50 lakhs

    No limit

    Income Replacement Benefit Option

    INR 2.2 lakhs p.a.

    No limit

    Accident Shield Benefit Option

    INR 50 lakhs

    No limit

    Disability Shield Benefit Option

    INR 50 lakhs

    INR 1 Cr

    Critical Illness Protector Benefit Option

    INR 50 lakhs

    INR 1 Cr

    Comprehensive Benefit Option

    INR 50 lakhs

    INR 1 Cr

    Premium

    Single Mode

    INR 15,000

    No Limit

    Yearly

    INR 3,000

    Half-yearly

    INR 1,536

    Quarterly

    INR 777

    Monthly

    INR 261

    Premium payment frequency

    Single/Yearly/Half-yearly/Quarterly/Monthly

2. IndiaFirst Life Plan

IndiaFirst Life Plan is a non-participating pure term insurance plan that helps you secure your family’s financial future against the uncertainties of life. The plan comes with many attractive features.

Features of IndiaFirst Life Plan

  • Higher coverage at reasonable price
  • Lump-sum benefit on death during the policy term
  • Eligibility Criteria for IndiaFirst Life Plan

    Criteria 

    Minimum

    Maximum

    Entry age

    18 years

    60 years

    Maturity age 

    70 years

    Policy term

    5 years

    40 years

    Premium paying term

    Same as the policy term

    Sum assured

    INR 1 lakh

    INR 50 Cr

    Premium

    Single Premium

    INR 5,000

    Depending on the sum assured

    Yearly Mode

    INR 1,000

    Half Yearly Mode

    INR 500

    Monthly Mode

    INR 100

    Premium payment frequency

    Single/Yearly/Half-yearly/Monthly

3. IndiaFirst Anytime Plan

IndiaFirst Anytime plan is a pure term insurance plan that offers complete financial security to your loved ones during uncertainties of life. This ensures your family’s financial position is stable even when you are not around.

Features of IndiaFirst Anytime Plan

  • Larger life cover for a longer period of time at an affordable cost
  • Lump-sum benefit on death
  • Flexibility to choose the premium payment type – regular premium or limited premium
  • Eligibility Criteria for IndiaFirst Anytime Plan

    Criteria 

    Minimum

    Maximum

    Entry age

    18 years

    60 years

    Maturity age 

     NA

    70 years

    Policy term for Regular/Single premium

    5 years

    40 years

    Premium paying term for Regular premium

    Same as policy term

    Premium Paying term for Single premium

    One-time payment

    Sum assured

    INR 10 lakhs

    INR 50 cr

    Premium

    Single Premium

    INR 10,000

    Depends on sum assured

    Yearly Mode

    INR 2,000

    Half Yearly Mode

    INR 1,024

    Monthly Mode

    INR 174

    Premium payment frequency

    Single/Yearly/half-yearly/monthly

IndiaFirst Traditional Savings Plans

IndiaFirst Life Insurance offers various traditional savings plans that inculcate regular savings habits in you to secure your future dreams. These plans are a combination of insurance and savings. 

1. IndiaFirst Life Cash Back Plan

IndiaFirst Life Cash Back Plan is a non-linked, non-participating, limited premium money-back insurance plan. The plan offers guaranteed payouts on maturity along with offering life protection.

Features of IndiaFirst Life Cash Back Plan

  • Allows you to reap the benefit for long-term with limited period payment
  • Guaranteed payouts at regular interval during the policy term
  • Boost of guaranteed additions that are paid into your policy after completion of every policy year
  • Eligibility Criteria for IndiaFirst Life Cash Back Plan

    Criteria 

    Minimum

    Maximum

    Entry age

    15 years

    55 years

    Maturity age 

     NA

    70 years

    Policy term

    9 years

    15 years

    Premium paying term

    5 years

    10 years

    Sum assured

    INR 50,000

    No limit

    Premium

    Single Premium

    INR 6,000

    Depends on sum assured

    Yearly Mode

    INR 3,071

    Half Yearly Mode

    INR 1,554

    Monthly Mode

    INR 552

    Premium payment frequency

    Yearly/half-yearly/Quarterly/monthly

2. IndiaFirst Maha Jeevan Plan

IndiaFirst Maha Jeevan plan is non-linked, participating endowment life insurance plan that offers the dual benefit of wealth creation for long-term with life protection. The plan comes with amazing features.

Features of IndiaFirst Maha Jeevan Plan

  • The death benefit on untimely demise which includes sum assured +simple reversionary bonuses
  • Guaranteed maturity amount that includes sum assured + simple reversionary bonuses + terminal bonuses, if any
  • Multiple rider options to enhance the coverage – IndiaFirst term rider, IndiaFirst waiver of premium rider
  • Eligibility Criteria for IndiaFirst Maha Jeevan Plan

    Criteria 

    Minimum

    Maximum

    Entry age

    5 years

    55 years

    Maturity age 

    20 years

    70 years

    Policy term

    15 years

    25 years

    Sum Assured

    INR 50,000

    INR 20 CR

    Premium Paying term

    Same as policy term

    Premium

    Yearly Mode

    INR 6,000

    Depending on sum 

    Half Yearly Mode

    INR 3,071

    Monthly Mode

    INR 522

    Premium payment frequency

    Yearly/half-yearly/monthly

3. IndiaFirst Simple Benefit Plan 

IndiaFirst Simple Benefit plan is a non-linked, participating endowment plan that offers the dual benefit of life protection and assured savings. 

Features of IndiaFirst Simple Benefit Plan

  • Helps you save regularly to build a corpus for future goals
  • The easy and instant buying process
  • The death benefit on the untimely demise of the policyholder during the policy term. Death benefit includes sum assured + simple reversionary bonuses accumulated till the date of death.
  • Guaranteed maturity benefit is payable on the survival of the term. This includes guaranteed sum assured + simple reversionary bonuses + terminal bonus if any
  • Loan facility up to 90% of the surrender value
  • Eligibility Criteria for IndiaFirst Simple Benefit Plan

    Criteria 

    Minimum

    Maximum

    Entry age

    18 years

    50 years

    Maturity age 

    70 years

    Policy term

    15 years

    25 years

    Premium paying term

    Same as the policy term

    Sum assured

    Depends on age, gender and plan term

    Premium

    Yearly Mode

    INR 2,000

    INR 32,340

    Half Yearly Mode

    INR 1,024

    INR 16,555

    Monthly Mode

    INR 174

    INR 2,814

    Premium payment frequency

    Yearly/half-yearly/monthly

4. IndiaFirst Life Guaranteed Monthly Income Plan

IndiaFirst Life Guaranteed Monthly Income Plan is a non-linked, participating, limited premium endowment life insurance plan that provides an additional source of income along with life protection. The plan gives guaranteed monetary support.

Features of IndiaFirst Life Guaranteed Monthly Income Plan

  • Guaranteed income every month along with assured lump sum payouts during the untimely demise of the life assured
  • Flexibility to choose the premium payment and policy term depending on the need
  • Annual bonuses, if any are added to the benefits
  • Eligibility Criteria IndiaFirst Life Guaranteed Monthly Income Plan

    Criteria 

    Minimum

    Maximum

    Entry age

    18 years

    50 years

    Maturity age 

    34 years

    75 years

    Policy term

    16 years

    27 years

    Premium paying term

    8 years

    11 years

    Premium

    Yearly Mode

    INR 24,000

    No Limit

    Half Yearly Mode

    INR 12,286

    Quarterly Mode

    INR 6,216

    Monthly Mode

    INR 2,088

    Sum assured

    10 times the annualised premium

    Premium payment frequency

    Yearly/half-yearly/Quarterly/monthly

5. IndiaFirst Life Smart Pay Plan

IndiaFirst Life Smart Pay plan is a non-linked, participating, limited pay money back life insurance plan offered by IndiaFirst Life Insurance Company. The plan helps you meet various life goals at various stages along with safeguarding your family financially against uncertainties of life.

Features of IndiaFirst Life Smart Pay Plan

  • Helps to achieve long-term goals with shorter-term payments
  • On maturity, the sum assured + simple reversionary bonuses + terminal bonuses, if any are paid
  • Option to avail waiver of premium rider
  • Survival benefit payable is 103% of your one annual premium
  • Eligibility Criteria for IndiaFirst Life Smart Pay Plan

    Criteria 

    Minimum

    Maximum

    Entry age

    3 years

    50 years

    Maturity age 

     NA

    65 years

    Policy term

    10 years

    15 years

    Premium paying term

    5,6,7 and 8 years

    Sum assured

    INR 1,50,000

    No limit

    Premium

    Yearly Mode

    INR 18,000

    No Limit

    Half Yearly Mode

    INR 9,215

    Quarterly Mode

    INR 4,662

    Monthly Mode

    INR 1,566

    Premium payment frequency

    Yearly/half-yearly/Quarterly/monthly

IndiaFirst Child Insurance Plans

Child plans offered by IndiaFirst Life Insurance are the combination plans that offer the benefit of wealth creation for securing children’s future dreams along with life protection. There are various child plans offered by the company.

1. IndiaFirst Happy India Plan

IndiaFirst Happy India Plan is a unit-linked non-participating endowment insurance plan that is specifically designed for securing the future of your children. With wealth creation and protection benefits, it helps to achieve a child’s education and career dreams.

Features of IndiaFirst Happy India Plan

  • Lump-sum benefits at each key stages of events of a child’s life 
  • Lump-sum benefits during an unfortunate event like life assured’s death
  • Flexible options like switching and partial withdrawal
  • Waiver of premium after the death along with paying fund value on maturity
  • Four different fund options to choose from
  • Eligibility Criteria for IndiaFirst Happy India Plan

    Criteria 

    Minimum

    Maximum

    Entry age

    18 years

    50 years

    Maturity age 

    60 years

    Policy term

    10 years

    25 years

    Sum Assured for age under 45 years

    (10Xannualised premium) OR (0.5Xpolicy term X annualised premium) whichever is higher

    14Xannualised premium

    Sum Assured for age 45 years and above

    (7Xannualised premium) OR (0.25Xpolicy term X annualised premium) whichever is higher

    (7Xannualised premium) or (0.25Xpolicy term X annualised premium) whichever is higher

    Premium paying term

    Same as the policy term

    Premium payment frequency

    Yearly/Half-yearly/Monthly

2. IndiaFirst Life Little Champ Plan

IndiaFirst Life Little Champ plan is a non-linked, participating life insurance plan that helps you secure your child’s future. The plan helps you give the best possible education to your children and career. Regular guaranteed payouts ensure comprehensive financial protection.

Features of IndiaFirst Life Little Champ Plan

  • Life cover to provide financial protection to the family
  • Flexibility to choose the type of cover – death with accidental death or accidental total permanent disability or the combination of these two options
  • Waiver of premium in case of accidental total permanent disability benefit is chosen
  • Multiple payout options to receive death benefits
  • The last instalment payout at maturity will include simple bonuses accrued along with guaranteed payouts
  • Eligibility Criteria for IndiaFirst Life Little Champ Plan

    Criteria 

    Minimum

    Maximum

    Entry age

    21 years

    45 years

    Maturity age 

    70 years

    Policy term

    15 years

    25 years

    Premium paying term (PPT)

    7 years

    14 years

    Sum assured for PPT 7-9 years

    INR 1,50,000

    No Limit

    Sum assured for PPT 10-14 years

    INR 2,00,000

    No Limit

    Premium

    Yearly Mode

    INR 15,500

    No Limit

    Half Yearly Mode

    INR 7,934

    Quarterly Mode

    INR 4,015

    Monthly Mode

    INR 1,349

    Premium payment frequency

    Yearly/half-yearly/Quarterly/monthly

IndiaFirst Investment Plans (Unit Linked Insurance Plans)

IndiaFirst Investment Plans (ULIPs) are new-age plans that offer a combination of insurance and wealth accusation through return maximisation by investing in capital markets. These plans come with various fund options which can be chosen depending on individual needs, investing style and risk appetite.

1. IndiaFirst Life Wealth Maximizer Plan 

IndiaFirst Life Wealth Maximizer plan is a unit-linked, non-participating plan that provides the benefit of wealth accumulation and life protection to secure your future for long-term.

Features of IndiaFirst Life Wealth Maximizer Plan

  • Maximise the return with an option to invest in seven different investment funds
  • Three different investment strategy to choose depending on the investing style – automatic trigger-based investment, fund transfer strategy and age-based investment strategy
  • Additional benefits like loyalty benefits and profit boosters
  • Death benefit during the untimely demise of the life assured
  • A flexible feature like switches and premium redirection to maximise the return
  • Partial withdrawal to meet the emergency liquidity requirement
  • Eligibility Criteria for IndiaFirst Life Wealth Maximizer Plan

    Criteria 

    Minimum

    Maximum

    Entry age

    5 years

    65 years

    Maturity age 

    18 years

    90 years

    Policy Tenure for Regular/Limited premium

    10 years

    85 years

    Policy Tenure for Single premium

    5 years

    30 years

    Premium Paying Term for Regular Premium 

    Same as Policy Tenure

    Premium Paying Term for Limited Premium 

    5, 10, 15 and 20 years

    Premium Paying Term for Single Premium 

    One time

    Premium

    Yearly Mode

    INR 2,50,000

    No Limit

    Half Yearly Mode

    INR 1,25,000

    Quarterly Mode

    INR 62,500

    Monthly Mode

    INR 20,833

    Single Mode

    INR 5,00,000

    Premium payment frequency

    Single/Yearly/half-yearly/Quarterly/monthly

    Minimum sum assured

    Age under 45 years

    Age 45 years and above

    Regular and limited premium

    (10Xannualised premium) or (0.5Xpolicy term X annualised premium) whichever is higher

    (7Xannualised premium) or (0.25Xpolicy term X annualised premium) whichever is higher

    Single premium

    125% of single premium

    110% of single premium

2. IndiaFirst Money Balance Plan

IndiaFirst Money Balance plan is a unit-linked insurance plan offered by IndiaFirst Life Insurance Company. The plan aims to maximise the return by investing in the capital market along with providing life protection. 

Features of IndiaFirst Money Balance Plan

  • Investment can be optimised with ‘automatic trigger-based’ investment strategy that secures your earnings on your investments through an automatic transfer in relatively safe funds to earn a consistent return.
  • Sum assured on the untimely demise of the policyholder
  • Flexible features like switching, premium redirection and partial withdrawals
  • Flexibility to choose the premium payment type – single premium, limited pay premium or regular premium
  • Eligibility Criteria for IndiaFirst Money Balance Plan

    Criteria 

    Minimum

    Maximum

    Entry age

    5 years

    65 years

    Maturity age 

    18 years

    75 years

    Premium payment frequency

    Single/Yearly/half-yearly/monthly

    Policy Tenure for Regular/Limited premium

    10, 15, 20 and 25 years

    Premium Paying Term for Regular Premium 

    10, 15, 20 and 25 years

    Premium Paying Term for Limited Premium 

    7 years

    Premium Paying Term for Single Premium 

    One time

    Sum Assured range:

    Minimum sum assured

    Age under 45 years

    Age 45 years and above

    Regular and limited premium

    (10X annualised premium) or (0.5X policy term X annualised premium) whichever is higher

    (7 X annualised premium) or (0.25X policy term X annualised premium) whichever is higher

    Single premium

    125% of single premium

    110% of single premium

3. IndiaFirst Smart Save Plan

IndiaFirst Smart Save Plan is a unit-linked endowment insurance plan offered by IndiaFirst Life Insurance Company that helps you achieve financial freedom. With market-linked returns on your investment, the plan helps to achieve your dreams along with securing your family’s financial future during uncertainties.

Features of IndiaFirst Smart Save Plan

  • Flexibility to invest in multiple investment funds (4 fund types) depending on the need and risk-taking ability
  • Life cover in case of an untimely demise of the life assured
  • Flexible features like switching, premium redirection and partial withdrawals
  • Flexibility to choose the premium payment type – single premium, limited pay premium or regular premium
  • Eligibility Criteria for IndiaFirst Smart Save Plan

    Criteria 

    Minimum

    Maximum

    Entry age

    5 years

    65 years

    Maturity age 

    18 years

    75 years

    Premium payment frequency

    Single/Yearly/half-yearly/monthly

    Policy Tenure for Regular/Limited Premium 

    10, 15, 20 and 25 years

    Policy Tenure for Single Premium 

    5, 10, 15 and 20 years

    Premium Paying Term for Regular Premium 

    10, 15, 20 and 25 years

    Premium Paying Term for Limited Premium 

    7 years

    Premium Paying Term for Single Premium 

    One time

    Minimum sum assured

    Age under 45 years

    Age 45 years and above

    Regular and limited premium

    (10Xannualised premium) or (0.5Xpolicy term X annualised premium) whichever is higher

    (7Xannualised premium) or (0.25Xpolicy term X annualised premium) whichever is higher

    Single premium

    125% of single premium

    110% of single premium

IndiaFirst Retirement Insurance Plans

IndiaFirst Life Insurance Company offers a variety of pension plans to secure your golden years of life post-retirement. The plans are specially crafted to take care of regular income needs that help in maintaining a similar lifestyle with financial stability.

1. IndiaFirst Guaranteed Retirement Plan

IndiaFirst Guaranteed Retirement plan is a non-linked, participating, endowment deferred pension plan that guarantees financial stability during your retirement life. With various flexible and attractive features, the plan ensures to secure your golden years financially.

Features of IndiaFirst Guaranteed Retirement Plan

  • Guaranteed return of 9% on the total investment made during first 2/4/6 plan years depending on the premium payment term chosen
  • Flexibility to choose the premium payment type – single premium, limited pay premium or regular premium
  • Helps to maintain a lifestyle and financial requirement at old age with guaranteed returns
  • Eligibility Criteria for IndiaFirst Guaranteed Retirement Plan

    Criteria 

    Minimum

    Maximum

    Entry Age for Regular Premium Plans

    25 years

    55 years

    Entry Age for Limited Premium Plans

    25 years

    70 years

    Entry Age for Single Premium Plans

    0 years

    75 years

    Maturity Age

    40 years

    80 years

    Policy Tenure for Regular/Limited Premium Plans

    10-35 years

    Policy Tenure for Single Premium Plans

    5-40 years

    Premium Paying Term for Regular Premium Plans

    Same as Policy Tenure

    Premium Paying Term for Limited Premium Plans

    5 and 10 years

    Premium Paying Term for Single Premium Plans

    One time

    Sum Assured for Regular/Limited Premium Plans

    INR 5 lakhs

    No Limit

    Sum Assured for Single Premium Plans

    INR 1 lakh

    No Limit

    Premium payment frequency

    Single/Yearly/half-yearly/Quarterly/monthly

2. IndiaFirst Immediate Annuity Plan

IndiaFirst Immediate Annuity plan is a non-linked non-participating pension plan offered by IndiaFirst Life Insurance Company. The plan offers financial security and peace of mind in your golden years by providing steady retirement income.

Features of IndiaFirst Immediate Annuity Plan

  • Allows you to choose the retirement year based on your need
  • Regular income throughout your retirement life depending on the payment frequency chosen 
  • Joint life cover for spouse
  • Return of purchase price option to protect your loved ones as nominee gets back the investment in case of policyholder’s demise
  • Multiple annuity options –Life annuity, life annuity with return of purchase price, joint life last survivor annuity for life and annuity certain for a period of 5/10/15 years
  • Eligibility Criteria for IndiaFirst Immediate Annuity Plan

    Criteria 

    Minimum

    Maximum

    Entry Age for First Annuitant

    40 years

    80 years (99 years for existing pension policyholders)

    Entry Age for Second Annuitant

    18 years

    Premium

    INR 1 lakh

    No limit

    Annuity payment frequency

    Yearly/half-yearly/Quarterly/monthly

3. IndiaFirst Life Guaranteed Annuity Plan

IndiaFirst Life Guaranteed Annuity Plan is a non-linked, non-participating individual annuity plan that helps to build a corpus over the years to get the regular income flow post-retirement for a lifetime.

Features of IndiaFirst Life Guaranteed Annuity Plan

  • Assurance of lifetime income
  • 12 different annuity options to choose from depending on the need
  • Options like Joint life cover or family income are available
  • Eligibility Criteria for IndiaFirst Life Guaranteed Annuity Plan

    Criteria 

    Minimum

    Maximum

    Entry age

    40 years

    80 years

    Annuity Per Month

    INR 1,000

    No Limit

    Annuity Per Annum

    INR 12,500

    No LImit

    Purchase price

    INR 1 lakh

    No limit

    Premium payment frequency

    Yearly/half-yearly/Quarterly/monthly

IndiaFirst Common Service Centre Plans (CSC)

1. IndiaFirst CSC Shubhlabh Plan

IndiaFirst CSC Shubhlabh plan is a non-linked, non-participating variable insurance plan that helps to build the corpus with low premium at your convenience. 

Features of IndiaFirst CSC Shubhlabh Plan

  • Hassle-free buying with name and Aadhaar number
  • Death benefit during the untimely demise of the policyholder
  • Guaranteed additional interest of 4% p.a. for the first 5 plan years and 0.5% p.a. for the subsequent years
  • Lump-sum account value payable on maturity
  • Partial withdrawal facility after 5 years to meet liquidity requirements
  • Top-up facility to boost the investment amount
  • Eligibility Criteria for IndiaFirst CSC Shubhlabh Plan

    Criteria 

    Minimum

    Maximum

    Entry age

    18 years

    55 years

    Maturity age 

    65 years

    Policy term

    10 years

    15 years

    Premium paying term

    Same as the policy term

    Sum assured for below 45 years

    10 X annualised premium

    Sum assured for 45 years and above

    7 X annualised premium

    Premium

    Yearly Mode

    INR 1,500

    INR 20,000

    Half-Yearly Mode

    INR 750

    INR 10,000

    Monthly Mode

    INR 125

    INR 1,667

    Premium payment frequency

    Yearly/half-yearly/monthly

IndiaFirst Point of Sale (POS) Plans

1. IndiaFirst Life POS Insurance Khata Plan

IndiaFirst Life POS Insurance Khata plan is a non-linked, non-participating, term assurance with the return of premium plan that offers the benefit of financial security to your family during uncertainties along with protecting your money.

Features of IndiaFirst Life POS Insurance Khata Plan

  • Death benefits during the untimely demise of life assured. On survival till the end of the policy term, the total premium paid will be returned.
  • Easy and convenient to purchase
  • Single premium payment to get cover for 5/7/10 years
  • Eligibility Criteria for IndiaFirst Life POS Insurance Khata Plan

    Criteria 

    Minimum

    Maximum

    Entry age

    25 years

    50 years

    Maturity age 

    NA 

    60 years

    Policy term

    5,7 and 10 years

    Premium paying term

    one-time payment

    Sum assured

    INR 2,500

    INR 1,50,000

    Premium

    INR 500

    INR 15,000

    Guaranteed assured benefit on maturity

    Total premium paid (excluding applicable taxes)

    Premium payment frequency

    Single

2. IndiaFirst Life POS CashBack Plan

IndiaFirst Life POS Cash Back plan is a non-linked, non-participating, limited premium, money back insurance plan that helps you pay for the special moments in life along with protecting your family’s financial future against uncertainties of life.

Features of IndiaFirst Life POS CashBack Plan

  • The policy offers periodic payback every 3rd, 4th or 5th policy year as per the policy term was chosen with the premium payment for a limited period
  • Boost of guaranteed additions paid into the policy after completion of every policy year
  • The policy offers risk cover equal to higher of 10 times the annualised premium or sum assured on maturity along with accumulated guaranteed additions
  • Eligibility Criteria for IndiaFirst Life POS CashBack Plan

    Criteria 

    Minimum

    Maximum

    Entry age

    15 years

    50 years

    Maturity age 

     NA

    65 years

    Policy term

    9, 12 and 15 years

    Premium paying term

    5,7 and 10 years

    Sum assured

    INR 50,000

    INR 10,00,000

    Premium

    Yearly Mode

    INR 6,000

    Depends on the sum assured chosen

    Half-Yearly Mode

    INR 3,071

    Quarterly Mode

    INR 1,554

    Monthly Mode

    INR 552

    Premium payment frequency

    Yearly/Half-yearly/Quarterly/Monthly

How to Buy IndiaFirst Life Insurance Plans?

IndiaFirst Life Insurance plans can be purchased both via an offline and online platform. You can visit the branch offices or contact insurance advisors for purchasing IndiaFirst Life Insurance plans offline. You will have to fill in physical forms and submit the required documents along with payment cheque for the offline process. However, buying online is more convenient which can be done in a few steps through the company website of IndiaFirst Life Insurance Company.

However, if you wish to buy any other life Insurance plans online would be buying them through Turtlemint as plans can be compared with similar other plans available in the market. 

Following are the simple steps to follow for buying online through Turtlemint –

  • Visit www.turtlemint.com
  • Click on the ‘life insurance’ category
  • Choose the subcategory of your choice and the list of various plans available under the category are displayed
  • Provide your profile details such as gender, marital status, date of birth, name, income details, contact details and the coverage requirements etc.
  • Once you complete your profile, all the suitable plans available in the market are displayed
  • Compare and choose the best-suited plan
  • After choosing the plan, fill in the online application and proceed for premium payment
  • Once the payment is done, you would be able to buy the plan easily

Documents Required for Buying IndiaFirst Life Insurance Plans

Following are the documents required for buying IndiaFirst Life Insurance plans –

  • Identity Proof – PAN Card /Aadhaar Card/ Driving license / Voter’s ID/Passport
  • Income Proof – ITR for last 3 years/Salary slip/ Latest form 16
  • Address Proof – Passport/Voter’s ID /Driving License/ Aadhaar Card/ Bank Statement / Ration card/Utility Bill
  • Passport size photographs
  • Medical reports, if necessary

Claim Process for IndiaFirst Life Insurance Plans

The claim process for IndiaFirst Life Insurance plans is simple, quick and convenient. Following is the process to follow –

  • Register the claim with the insurance company immediately. A claim can be registered online or through email or by calling on the toll-free number. For registering the claim online you need to provide simple details like policy number, date of birth of life assured and death date. Alternatively, claim intimation requests can be placed at the branch office.
  • Submit signed and filled claim form along with other required documents
  • Claim team will carefully review all the documents submitted and communicate in case of any pending documents.
  • Once all the documents are received and verified, claim decision (acceptance or rejection) will be taken.

Turtlemint can help you with claim settlements, you can contact Turtlemint by calling on 1800-266-0101 or by writing to them on claims@turtlemint.com. Their executive will get in touch with you.

Documents Required for IndiaFirst Life Insurance Claims

Following are the documents required for IndiaFirst Life Insurance claims:

  • Duly signed and filled claim form
  • Claimant’s statement along with ID proof and relationship proof
  • Original policy document/Indemnity bond
  • Copy of Death certificate
  • Medical attendant certificate
  • Police FIR and post mortem report in case of unnatural death
  • Employer’s certificate, if applicable

The requirement of documents may slightly vary depending on the type of claim.

Riders Offered under IndiaFirst Life Insurance Plans

IndiaFirst Life Insurance plans come with multiple optional rider options that can enhance the coverage. Following are the riders offered by IndiaFirst Life Insurance –

  • IndiaFirst Life Waiver of Premium Rider – This rider provides additional support to loved ones during an unforeseen event by waiving off the future premiums of the base policy in case the life assured suffers from death, accidental total permanent disability or critical illness. 
  • IndiaFirst Term Rider Plan – This is a pure term insurance rider that ensures your loved ones are taken care of even when you are not around by providing additional protection against death.

Exclusions in IndiaFirst Life Insurance Plans

Suicide exclusions: If the life assured commits suicide within 12 months from the date of inception of the policy or revival of the policy, the insurance company will pay 80% of the premiums paid till the date of death (excluding applicable taxes) to the nominee.

For any queries, IndiaFirst Life Insurance Company can be contacted easily.

Company Address and Contact Information of IndiaFirst Life Insurance Company 

Contact Address – IndiaFirst Life Insurance Company Limited, 12th and 13th Floor, North (c) wing, Tower 4, Nesco IT Park, Nesco Centre, Western Express Highway, Goregaon (East), Mumbai – 400 063

Email – claims.support@indiafirstlife.com

Toll-free number – 1800 -209 – 8700

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