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IndiaFirst Life Insurance is an Indian insurance company backed by Bank of Baroda, Andhra Bank (now Union Bank of India), and Legal and General Middle East Limited. IndiaFirst Life Insurance offers a comprehensive range of life insurance plans that offer a protective shield for your loved ones, making sure that their future is financially secure and safeguarded against life's uncertainties. In this article, let’s learn more about IndiaFirst Life Insurance, its benefits and plans.
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IndiaFirst Life Insurance is one of the leading insurance companies in India. It offers various insurance products such as protection, savings, ULIP, retirement and child plans to help individuals and families protect their financial future in the event of life's uncertainties. You can easily check the premium rates of IndiaFirst Life Insurance plans online.
Term Plans
You should buy IndiaFirst Life Insurance plan because of the following reasons:
Financial Security for Your Loved Ones: IndiaFirst Life Insurance plans are specially designed to provide financial protection and peace of mind to your loved ones in case of an unfortunate event. The payout from the life insurance plans can help your family maintain their lifestyle, cover essential expenses, and even achieve long-term financial goals like education and retirement.
Comprehensive Coverage Options: IndiaFirst Life Insurance offers a wide range of insurance products tailored to suit various life stages and needs. Whether you're looking for pure protection with term insurance, wealth creation through investment-linked plans, or comprehensive coverage with a whole-life policy, IndiaFirst has you covered. Their diverse portfolio ensures you can find a plan that aligns perfectly with your financial goals and requirements.
Guaranteed Returns: IndiaFirst Life Insurance, notably Savings and retirement plans, ensures you receive guaranteed returns when your plan matures. As you pay your premiums over time, your savings grow. Upon maturity, you can choose to receive this accumulated amount either as a one-time lump sum or as a regular income.
Affordable Premiums: IndiaFirst Life Insurance offers comprehensive plans, like term life insurance plans, at very affordable premiums, so that you can financially secure your loved ones without any hassle.
Tax Benefits: Opting for IndiaFirst Life Insurance plans can also provide you with tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961. This means you can secure your financial future and enjoy tax advantages while doing so, making IndiaFirst a smart choice for your insurance needs.
The various life insurance policies in multiple segments offered by IndiaFirst Life Insurance are as follows:
Term Insurance Plans
Savings Plans
ULIP Plans
Retirement Plans
Child Plans
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Here is a list of all IndiaFirst Life Term Insurance Plans:
| Term Plan | Entry Age | Maturity Age | Sum Assured | |
| IndiaFirst Life Plan | 18 to 60 years | 80 years | Rs. 1 Lakh to Rs. 50 Crores | |
| IndiaFirst Life Guaranteed Protection Plus Plan | 18 to 65 years | 99 years | Rs. 1 Lakh to No Limit |
Here are the key features of this plan:
High coverage at affordable rates
Coverage available up to 80 years
Life cover options from 1 lac to 50 Crs
Lump sum death benefit for the family in case of policyholder’s untimely demise
Tax deductions on premiums and additional benefits as per applicable tax laws.
Here are the key features of this plan:
Affordable life cover for you and your family
Choose from 7 different coverage options to tailor the policy to your safety needs
Flexible payout options: lump sum or monthly income (based on selected coverage)
Whole life coverage until age 99 with premiums paid for a short duration
Financial protection against Accidental Death, Accidental Total Permanent Disability, or up to 40 Critical Illnesses with Incidence Coverage Option.
| Term Plan | Entry Age | Maturity Age | Sum Assured | |
| IndiaFirst Life Guaranteed Single Premium Plan | 90 days to 70 years | 85 years | Rs. 1 Lakh to No Limit | |
| IndiaFirst Life IndiaFirst Guarantee of Life Dreams Plan | 90 days to 60 years | 90 years | Rs. 4.8 Lakhs to No Limit | |
| IndiaFirst Life Fortune Plus Plan | 1 month to 60 years | 80 years | Rs. 1.68 Lakhs to No Limit | |
| Indiafirst Life Smart Pay Plan | 8 to 50 years | 65 years | Rs. 1.5 Lakhs to No Limit |
Here are the key features of this plan:
Guaranteed 7 times returns on a 30-year investment
1.25 times life insurance cover for your loved ones
Enhanced maturity benefits for higher premium bands
Additional benefits on maturity: 1% for premiums between 5 Lakh - 9.99 Lakh, and 2% for premiums of 10 lakh and above
Worry-free guaranteed maturity benefit for life's milestones
Convenient online purchase option available.
Here are the key features of this plan:
Choice of 3 Income Options: Immediate, Intermediate, and Deferred
Start receiving income as early as the end of the 1st policy month or defer based on your needs
Guaranteed long-term income for 30 or 40 years, depending on your chosen income option
Life insurance cover throughout the policy term for family security
Loyalty benefits for timely premium payments
Protection against missing a premium with Life Cover Continuance Benefit at no extra cost
'Save the Date' feature for receiving annual income on a special date
Enhanced benefit for females with higher income benefits
Tax benefits available on premiums paid and benefits received as per prevailing tax laws.
Here are the key features of this plan:
Provide long-term financial protection for your loved ones with life insurance cover for up to 15 or 20 years
Pay for a limited period while ensuring financial security through life insurance cover for the entire policy term
Offer your loved ones the choice of a lump sum or income over 5 years in the event of the life assured's death
Receive regular guaranteed survival benefits and cash bonuses, if declared, to meet ongoing financial needs after the premium paying term ends
Secure a lump sum benefit on maturity for your long-term goals
Choose to defer guaranteed survival benefits and cash bonuses, earning additional interest
Enjoy a discount for early renewal premium payments
Add the Waiver of Premium Rider option to relieve your loved ones from the burden of future premium payments
Here are the key features of this plan:
Pay for a shorter period with flexible options tailored to your time horizon to achieve long-term goals
Continue to enjoy life cover benefits even if you miss a premium payment (applicable after two full years of premiums)
Experience the potential upside of earnings with an annual bonus, if declared
Receive 103% of one annual premium back as a survival benefit
At the end of the term, receive Sum Assured at Maturity plus accrued bonuses (if declared)
Add the Waiver of Premium Rider option to relieve your loved ones from the burden of future premium payments
Conveniently purchase this policy online at your convenience
Potential tax benefits on premiums paid and benefits received as per prevailing tax laws.
| Term Plan | Entry Age | Maturity Age | Sum Assured | |
| IndiaFirst Life Radiance Smart Invest Plan | 91 days to 65 years | 99 years | Min: 7 X Annualized Premium Max: 10 X Annualized Premium |
|
| IndiaFirst Money Balance Plan | 5 to 65 years | 75 years | Min: Not less than 105% of the total premiums paid | |
| IndiaFirst Smart Save Plan | 5 to 65 years | 75 years | Min: 125% of the single premium |
Here are the key features of this plan:
Safety net for yourself and your loved ones with life insurance cover
The Death Benefit ensures that your loved ones' dreams are safeguarded in your absence
Choose from three plan options to meet your life insurance coverage needs: Life Option, Extra Shield Option, Family Care Option
Life Option provides a safety net of life insurance cover against death
Extra Shield Option offers additional insurance cover against both death and accidental death
Family Care Option ensures continuity of policy benefits through premium waivers
Tailor the policy to suit your insurance needs with flexible term and premium paying options
Participate in market-linked fund options to grow your money
Select from ten different fund options for flexibility according to your requirements.
Here are the key features of this plan:
Optimize your savings with the 'automatic trigger-based' investment strategy, systematically building savings with secure earnings through automatic transfers into consistent-return, relatively safe funds.
Choose to pay premiums regularly, for a limited period, or through a single payment.
The policy provides life cover in the event of the life assured's untimely demise.
Access your money for financial emergencies through partial withdrawals after the completion of the lock-in period.
Conveniently purchase this policy online.
Enjoy tax benefits as per applicable tax laws.
Here are the key features of this plan:
Systematically build savings through investments in various funds.
Get life cover in the event of the life assured's untimely death.
Optimize investments through the flexibility of 'switching' or 'redirecting your premium' from one fund to another.
Safeguard your savings by transferring investments into a liquid fund during the last 3 years of the plan.
Explore potential tax benefits on premiums paid and benefits received in accordance with prevailing tax laws.
| Term Plan | Entry Age | Maturity Age | Sum Assured | |
| IndiaFirst Life Guaranteed Pension Plan | 45 to 80 years | — | — | |
| IndiaFirst Life Guaranteed Annuity Plan | 40 to 80 years | — | Minimum Annuity Amount: INR 1,000 per month Rs. 12,500/annum Maximum Annuity Amount: No limit |
|
| IndiaFirst Guaranteed Retirement Plan | 25 to 75 years | — | Rs. 5 Lakhs to No Limit |
Here are the key features of this plan:
Select from 5 different annuity options to ensure a lifetime of income security.
Safeguard your family with the Return of Purchase Price facility, ensuring your nominee(s) receive the premium amount in case of an unfortunate event.
Pay for a limited period while enjoying lifelong annuity benefits.
Opt for the Single Life option for individual annuity benefits or the Joint Life option to extend them to your loved ones.
Consider the Escalating Life Annuity option for a constant rate of growth in your annuity amount.
Here are the key features of this plan:
Ensure a lifetime income for your members with our annuity options.
Provide the freedom to choose from 3 different annuity options.
Support the loved ones of your members with options like Joint Life Last Survivor Annuity for Life.
Members can protect their family with the Return of Purchase Price facility under Life Annuity, receiving back the investment amount with the 100% Return of Purchase Price option.
Enjoy a regular monthly/quarterly/half-yearly/yearly income throughout your retirement years.
Here are the key features of this plan:
Enjoy peace of mind with guaranteed additions of 9% on total premiums paid during the first 2/4/6 policy years based on the premium payment term.
Consistently grow your retirement corpus with bonuses (if declared) by paying premiums.
Maximize your retirement savings with a policy term of up to 40 years.
Start planning your retirement at any age with this flexible policy.
Choose between single, limited, or regular premiums to align with your cash flow.
Conveniently purchase this policy online at your convenience.
Explore potential tax benefits on premiums paid and benefits received in accordance with prevailing tax laws.
| Term Plan | Entry Age | Maturity Age | Sum Assured | |
| IndiaFirst Life Little Champ Plan | 21 to 45 years | 70 years | Rs. 1.5 Lakhs to No Limit |
Here are the key features of this plan:
Safeguard the dreams of your loved ones with the built-in Waiver of Premiums (WOP) for added protection.
Enjoy flexibility in choosing the Death Benefit as either a lump sum payout or regular income.
Tailor the policy to your needs with options for policy terms, premium payment terms, and payment modes.
Select from 8 payout options providing guaranteed payouts ranging from 101% to 125% of the Sum Assured during the policy term, based on your specific needs.
Here are the steps to buy IndiaFirst Life Insurance from Policybazaar:
Step 1: Visit the official Policybazaar website and go to the Term Insurance section.
Step 2: Provide your name, contact details, gender, and date of birth.
Step 3: Enter the information regarding your job type, yearly income, educational qualifications, and smoking/tobacco consumption habits.
Step 4: Choose IndiaFirst term plan from the list of term insurance plans that appears.
Step 5: Pay using your preferred mode to complete the process.
Here are the riders in the IndiaFirst Life Insurance:
IndiaFirst Term Rider: You can avail an additional life cover on your base death benefit for a period of 5 to 30 years with this rider. However, the minimum sum assured should be Rs. 1 Lakh and maximum sum assured must be Rs. 20 Crores.
IndiaFirst Life Waiver of Premium Rider: With this rider, your premiums will be waived off in case you suffer from death, accidental total permanent disability or critical illness. The minimum premium to avail this rider must be Rs. 500/year.
Here are the exclusions in the IndiaFirst Life Insurance:
Suicide: If the policyholder commits suicide within 12 months of buying the policy, his/her nominees will not be able to claim the death benefit.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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