Ask an Expert arrow

No results for

Check that your search query has been entered correctly or try another search.

Ask an Expert to Buy Life Insurance

We're happy to know that you're prioritizing your family's future. Our life insurance expert will assist you in finding the best insurance plan. To schedule a call, please share some of the below details.

male male


male male


male male


Key Features of IndiaFirst Life Employee Welfare Plan

Create valuable fund

Create a valuable fund for your future liabilities with the help of the employee welfare plan.


Guaranteed Returns

Enjoy the guaranteed minimum return of 1% per annum for the entire term of the policy.


Earn Interest

Get the interest on your earnings as declared by the company at the start of every financial quarter.


Life Cover

Safeguard your resources with the help of an additional life cover through our IndiaFirst Group Term Plan


Tax Benefits

Get tax benefits for yourself as well as your employees as per the existing tax laws.


Eligibility Criteria

Age at Entry

  • Minimum: 18 Years
  • Maximum: 75 Years

Age at Maturity

  • Maximum: 76 Years

Group Size

  • Minimum: 10
  • Maximum: No Limit

Initial Contribution

  • Minimum: Rs. 1,00,000
  • Maximum: No limit

Sum Assured


Rs. 5,000

How people have benefitted from IndiaFirst Life

Hassle-free Onboarding Process

From the onboarding process to the comprehensive medical tests, IndiaFirst Life ensured a hassle-free journey for me. The features of the plan I purchased are as per my expectations, providing me with peace of mind for future.

Mohit Agarwal

(Mumbai, 21st March 2024)

How people have benefitted from IndiaFirst Life

Pleasant Online Buying Experience

Buying IndiaFirst Life's life-insurance policy was a pleasant experience for me. The hassle-free nature of interaction with the company's representative was a boon and so was the inclusion of must-have features in their policy plans.

Satyam Nagwekar

(Mumbai, 22nd March 2024)

How people have benefitted from IndiaFirst Life

Trusted ally in my financial journey

IndiaFirst Life's Radiant Smart Invest Plan has completely won me over! It's like having a trusted ally in my financial journey. With its flexible fund switch options, I've been able to craft my investments just as I envisioned. In just a year, I've seen a remarkable 20% return on my investments! The support from the onboarding team has been absolutely fantastic, making me feel truly cared for and supported.

Paulomi Banerjee

(Kolkata, 21st March 2024)

How can we help?

View All FAQ

Who can be a part of this policy?


This policy can be availed by the ‘Master Policyholder for the benefits of its ‘Member’


Who is the Master Policyholder?

  • Master Policyholder is you, the organization which holds the policy and sets aside a fund to cover its employee liabilities such as Gratuity, Leave Encashment or pre or post- retirement Medical expenses, as per the scheme rules. 
  • The benefits payable under this policy are governed by the scheme rules. This specifies the amount and time of the benefit payment to your member(s). The amount and time of the benefit may vary. 
  • The Master Policyholder holds and operates the Master Policy.


Who is the Member? 

The Member is a member of your organization or a part of an organized group. The member is the life assured under this policy.


The age limits for a member are –


AgeAt EntryAt Exit
Minimum18 years as on last birthday-
Maximum75 years as on last birthday76 years as on last birthday


What is the group size to whom the cover can be offered?


Minimum Group SizeMaximum Group Size
10 membersNo limit

Who pays the contribution under this policy?


A. The premium contribution under the Defined Contribution scheme can be made by either, 

  • You, the Master Policyholder, or 
  • your Member, or 
  • both of you, the Master Policyholder and the Member


B. The premium contribution under the Defined Benefit scheme will be done by the Master Policyholder, as per the scheme rules

A premium of Rs.1 per 1000 Sum Assured per member per annum will be charged. There is a fixed life cover of INR 5000 under this plan. In case life cover premium is not received before completion of policy year the life cover will lapse. To revive or continue life cover, Master Policyholder or member will pay all due life cover premiums without any interest before the completion of policy year.


What is the minimum and maximum contribution under this plan?


Minimum Initial Contribution

INR 1,00,000  


Is there any surrender benefit in the plan?


You can surrender the policy at any time during the year. There are no charges for surrender in this plan. Surrender value should be determined by applying market value reduction, if any, to the account value. Market Value Reduction will be applicable on Bulk Exit and complete surrender. If in any financial year the accumulated withdrawal amount is more than 25% of the fund at the beginning of that financial year then it will be considered as Bulk Exit. Market Value Reduction will be applicable on withdrawals over 25% of account value at the beginning of the policy year, except in case of withdrawals due to death and retirement. 


Market value reduction will apply when the sum of market value of the assets for all schemes under this product is less than the sum of book value of the assets for these schemes as appearing in the scheme accounts. Market value reduction will be expressed as a percentage of fund value and will be calculated by the formula 


Max {( 1- (Market value of assets for all scemes under this product)/(Book value of assets for all scemes under the product) )x100,0}


Book value means account value which is calculated as contribution less exits plus , non-zero positive interest credited. 


The extent of liability of the insurer is maximum up to the account value of the scheme under pre/post-retirement medical expense fund as per scheme rule

How is the sum assured calculated?


This plan will have a life cover of INR 5000 per member for the Gratuity and Leave Encashment schemes. 

What are the tax* benefits under this plan?


You, the master policyholder and your member may be eligible for tax benefits as per applicable tax laws which can be modified from time to time. However, you are advised to consult your tax consultant.

Can the Policy be cancelled?


You can return this Policy if you disagree with any of the terms and conditions of this Policy within the 15 days of receipt of your Policy document. You are required to send us the original Policy document and a written request stating the reasons for the same, post which we will refund your Premium after deducting the pro rata risk Premium, stamp duty and charges for medical examination, if any. 

Plans that may interest you!

IndiaFirst Life Pradhan Mantri Jeevan Jyoti Bima Yojana

Product Image


Product Name
IndiaFirst Life Pradhan Mantri Jeevan Jyoti Bima Yojana
Dropdown Field
Term Plan
Product Description

A yearly renewable life policy, Pradhan Mantri Jeevan Jyoti Bima Yojana is available to anyone with a savings bank account.

Product Benefits
  • Life Cover at affordable cost  
  • Hassle-free Over the counter issuance  
  • Tax benefits as per tax laws
Porduct Detail Page URL
Product Buy Now URL and CTA Text

Learn More

IndiaFirst Life Group Living Benefits Plan

Product Image


Product Name
IndiaFirst Life Group Living Benefits Plan
Dropdown Field
Group Insurance
Product Description

Tailored to meet diverse healthcare needs, this corporate health plan ensures financial security during hospitalisation, disabilities, critical illnesses, and more!

Product Benefits
  • Comprehensive Support for Group  
  • Affordable health insurance for corporate  
  • COVID-19 Protection for Group Life Insurance  
  • Tax Benefits
Porduct Detail Page URL
Product Buy Now URL and CTA Text

Learn More

IndiaFirst Life Group Term Plan

Product Image


Product Name
IndiaFirst Life Group Term Plan
Dropdown Field
Group Insurance
Product Description

IndiaFirst Group Term Plan provides comprehensive group protection with corporate term insurance, ensuring financial security. 

Product Benefits
  • Affordable Group Term Insurance 
  • Voluntary or Automatic Enrollment  
  • Hassle-free Nomination Process  
  • Enhanced Coverage with EDLI 
  • Mid-Year Member Additions
Porduct Detail Page URL
Product Buy Now URL and CTA Text

Learn More

Why IndiaFirst life

1.6 Crore

Lives secured since Inception


Available in 16,500+

BOB & UBI Branches


27,073 Crore

AUM as of Feb'2024


1 Day

Claim settlement assurance


Knowledge Center

Blogs Podcast Videos

View All


1800 209 8700

Customer Care Number



For online policy purchase


+91 22 6274 9898

Chat with us on WhatsApp