Prices Increasing Soon
India First Life Insurance is one of the youngest financial service providers in India undertaken jointly by Bank of Baroda, Andhra Bank, and UK-based Legal & General. The company is present in over 1000 Indian cities and towns and has marked a profit of INR 30 crores in the financial year 2020-21. The company offers a host of insurance products including health, savings, security, and a variety of group insurance plans.
#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply
By clicking on "View plans" you agree to our Privacy Policy and Terms of use
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
Term Insurance Plans, also called Term Plans in short, offer basic protection coverage to individuals. Term plans are the essence of life insurance plans that provides financial support to the family of the individual in case of premature death of the individual. In technical terms, term plans can be defined as a contract between the insurance company and the person insured wherein the company promises to pay a lump sum amount, called the Sum Assured if the insured dies during the term of the policy. The term of the policy is the time, in years, for which the plan has been bought by the insured. In exchange for the promise made by the insurer, the insured needs to pay premiums to the company against the chosen coverage for the term of the policy.
Term Insurance, being the basic insurance plan, is the cheapest plan in the market whereby paying a minimal amount of premium one can avail a high coverage for protection purposes. Life is uncertain and everybody faces the risk of untimely death. On the death of a family member, the family suffers a both emotional and financial loss. While emotional loss cannot be compensated, the financial loss suffered can be compensated considerably through insurance. Term insurance, at the same time, offers high coverage at lower costs thus making it affordable to have high coverage. A high coverage ensures that the family is properly taken care of in the absence of the breadwinner without any financial hiccups.
Note: Now that you know that what is term life insurance plan you can easily buy a term plan for your loved ones.
IndiaFirst Life Insurance Company offers different types of Term Plans to its customers to meet their protection requirements. Let us take a look at the different types of Term Insurance Plans offered by the company and their features and benefits in detail.
It is a non-linked and comprehensive term insurance plan at low premium rates, that ensures the protection of a policyholder’s family in case of unfortunate demise or permanent disability. The features and benefits of the plan are as follows:
The plan provides financial protection to you and your family at pocket-friendly rates
Get coverage for your whole life i.e., till the age of 99 by paying premiums only for a short time. With multiple options, you can customize your plan to suit safety requirements as you get a choice of seven different options of coverage to choose from.
Option to offer coverage to your partner as well under the same plan
Flexibility to get the death benefit as a lump sum or as a monthly income with this plan
Provides coverage against an unfortunate death because of COVID-19
Option to enhance your sum assured at different life stages such as marriage, taking a home loan, the birth of a child.
| Criteria | Minimum | Maximum |
| Entry Age | 18 years | 65 years |
| Policy Term | 1 month | 81 years |
| Sum Assured | Rs.1 Lacs (for COVID Cover option) Rs. 25 Lacs (for incidence coverage) Rs. 50 lacs (for other options) | No Limit |
| Premium Payment Term | Single Premium/Limited Premium | |
| Frequency of Premium Payment | Yearly, half-yearly/quarterly or monthly | |
It is a non-linked, non-participating pure risk life insurance plan that protects your family and provides the support that they require in case of death or any life’s exigencies such as accidental total permanent disability or critical illness. Below are the features of the plan:
Get financial security for yourself and your loved ones at low premium rates
Tailor your plan with multiple options to suit your safety requirements as you get a choice of 7 different options of coverage to select from
Receive death benefit as a lump sum or as a monthly income as per the chosen coverage by the life assured at policy inception
Option to get back total paid premium, after a specific time in the policy term under 2nd option of coverage i.e., Life Benefit with Voluntary Exit Advantage
Enjoy the benefit of your life cover even if you miss paying up to three premiums during the plan tenure with the option of premium break.
| Criteria | Minimum | Maximum |
| Entry Age | 18 years | 45 years for Life Benefit with voluntary Exit Advantage 60 years for Life stage, accident shield, disability shield, and Critical illness 65 years for Life Benefit, Decreasing cover, and income. |
| Maturity Age | - | 80 years |
| Sum Assured | 50 lacs | No Limit 1 Crore for disability shield and Critical illness |
| Policy Term | 5 years | 40 years |
| Premium Frequency | Half-yearly/quarterly/Monthly | |
A pure term insurance plan provides considerable coverage options at affordable rates. The features and benefits of the plan are as follows:
Premiums under the plan can be either paid for the entire duration of the plan under the Regular Pay option of premium payment or in one lump sum at the inception of the policy under the Single Pay option of premium payment.
There is a unique benefit provided by the company that of Inter Consultation Services for medical review by medical experts.
The company adopts differential premium pricing for smokers and non-smokers for choosing coverage ranges of Rs.50 lakhs and above
In case of death of the insured during the tenure of the plan, the Sum Assured is paid to the nominee subject to a minimum of 105% of all premiums paid till the date of death.
The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received is exempt under Section 10(10D) of the Income Tax Act.
| Criteria | Minimum | Maximum |
| Entry Age | 18 years | 60 years |
| Maturity Age | - | 70 years |
| Policy Term | 5 years | 40 years |
| Sum Assured | Rs.1 lakhs | Rs.50 crores |
| Annual Premium Amount | Regular Pay- Rs.1000 Single Pay – Rs.5000 | No limit |
| Premium Payment Term | Equal to policy term or Single Pay | |
| Premium Payment Frequency | Yearly, half-yearly, or monthly | |
It is an online term insurance plan which promises higher coverage at lower premium rates. The features and benefits of the plan are as follows:
The plan can be bought online through the website of the company thus lowering premium and unnecessary hassles
Premiums under the plan can be either paid for the entire duration of the plan under the Regular Pay option of premium payment or in one lump sum at the inception of the policy under the Single Pay option of premium payment.
In case of death of the insured during the tenure of the plan, the Sum Assured is paid to the nominee
The premiums paid are exempt from taxation under Section 80C of the Income Tax Act and the claim received is exempt under Section 10(10D) of the Income Tax Act.
| Criteria | Minimum | Maximum |
| Entry Age | 18 years | 60 years |
| Maturity Age | - | 70 years |
| Policy Term | 5 years | 40 years |
| Sum Assured | Rs.10 lakhs | Rs.50 crores |
| Annual Premium Amount | Regular Pay- Rs.2000 Single Pay – Rs.10, 000 | No limit |
| Premium Payment Term | Equal to policy term or Single Pay | |
| Premium Payment Frequency | Yearly, half-yearly, or monthly | |
Your premium is decided on age at which you buy the policy and remains same, throughout your life
Premiums can increase between 4-8% each year after your Birthday
Your policy application could be rejected or premiums increase by 50-100%, if you develop a lifestyle disease
The company offers specific plans which are available online only. The customer only needs to log into the company’s website, choose the required plan, choose the coverage and provide the details. The premium will be determined using the filled details. The customer then needs to pay the premium online through credit card, debit card, or net banking facilities and the policy will be issued
Plans which are not available online can be purchased from agents, brokers, banks, etc. where the intermediaries help with the application process.
On the PolicyBazaar homepage, click on Term Insurance under the Personal tab.
Click New Quotes to compare
Fill in your date of birth (DOB), whether you are a smoker/non-smoker, and the payout amount. On the basis of your payout amount, you will get an estimate of your premium. Next click Continue.
Fill in your name, email address, city, country code, and mobile number. Click Continue.
You will be taken to the Life Insurance quotes page where you will see life insurance quotes of more than 10 insurers. Next, choose the plan as per payment schedule – One Time Payout and Monthly Payout Plans.
After reviewing and comparing each life insurance quote, click the premium amount to buy the desired plan.
You will see a pop-up on the screen which will give you an overview of the chosen plan like premium, plan features, exclusions, additional riders, etc. Click Proceed.
This will take you to the insurer’s website. You will have to fill in the necessary details to buy the plan.
Note: Check out the best term life insurance in India and choose one that suits your requirements.
˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.
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
+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
© Copyright 2008-2025 policybazaar.com. All Rights Reserved
+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
Insurance
Calculators
Payment Methods
Secured With
Follow us on
