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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.

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Key features of IndiaFirst Life Group HospiCare Plan

Hospitalization Cover

Get hospitalization cash benefit for your members / employees / customers in an event of hospitalization due to illness or accident.

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Covid-19 Cover

Avail fixed cash benefit when diagnosed with COVID-19 or if quarantined in any of the government authorized hospitals or centers.

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Rising medical expense Cover

The plan is designed to cover the sudden rise in expenses of the group members due to medical exigencies. 

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Sum Insured

Choose cash benefit starting from ₹1,000 - ₹1,20,000 as per your requirement. 

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Eligibility Criteria

Age at Entry

Answer

Minimum: 18 Years

Maximum: 70 Years

Age at Maturity

Answer

Maximum: 71 Years

Group Size

Answer

Minimum: 7
 

Maximum: No Limit

Sum Insured

Answer

Minimum: ₹1,000
 

Maximum: ₹1,20,000 

Policy Term

Answer

12 Months

Premium Frequency

Answer

Regular Premium: Monthly/Quarterly/Half-yearly/Yearly 

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

What is IndiaFirst Life Group HospiCare (Microinsurance) Plan?

Answer

IndiaFirst Life Group HospiCare (Microinsurance) Plan is a non linked, non participating, group micro health insurance plan that offers fixed hospital cash benefit per hospitalization or fixed cash benefit on first diagnosis of COVID-19 for the financial protection against medical expenses. 

Who are the people involved in this Policy?

Answer

This Policy includes the ‘Master Policyholder’ and the ‘Member’.
 

Who is the Master Policyholder?
 

Master Policyholder is you, who offers this Policy to its members / customers / employees in order to secure themselves and their family against any uncertainties. The Master Policyholder holds and operates the Policy and may be any of the following: 
 

  1. Employees of any organization and/or micro Finance institution.
  2. Any Associations, where the members represent a particular profession/ trade/ domestic worker/ Anganwadi workers; 
  3. Any Government Agencies;
  4. Any Co-operative Societies; 
  5. Parents of School/College Students as members; 
  6. Any other groups as may be approved by the Authority from time to time.


Who is the Member?


The Member, at the time of applying for cover for the first time, could be an individual in the age group of 18 to 70 years and he is the member / customer / employee of the Master Policyholder. The benefits are payable on the member’s life. 


The age limits for a member are -

 

Minimum age at entryMaximum age at entryMaximum Cover Ceasing age
18 years as on last birthday70 years as on last birthday71 years as on last birthday 

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

Answer

 

Minimum Group SizeMaximum Group Size
7 members No limit 

What are the minimum and maximum annualized premium under this policy?

Answer

Premium will be based on Age, Gender, Group Type, Basic Sum Insured and Fixed Hospital Cash Benefit amount chosen by the Policyholder.

What is the mode/frequency of payment of premiums?

Answer

You can pay premiums on a monthly, quarterly, half yearly or yearly basis.

Is there a grace period for missed premiums in this policy?

Answer

Grace period means the specified period of time immediately following the premium due date during which a payment can be made to continue a policy. If a valid claim has occurred during grace period, then hospitalization benefit or fixed cash benefit due to diagnosis of COVID-19 will be paid after deducting due premium. 15 days of grace period will be allowed under monthly premium mode and 30 days for all other premium modes. In case of non-payment of premium within the grace period for non-annual premium payment mode, the policy lapses and cover ceases on expiry of the grace period. In case of renewal of the policy 15 days grace period is allowed by the Master policyholder/member in force without loss of continuity benefits such as waiting periods. If a claim has occurred during this grace period, then hospitalization benefit or fixed cash benefit due to diagnosis of COVID-19 will not be paid.

What is the surrender benefit payable under this Policy?

Answer

There is no surrender benefit under this policy. However, you, the Master Policyholder can surrender the Policy anytime. In case of surrender of the policy within the policy term, the member shall get an option to continue the policy as an individual policy till their coverage is terminated as per Certificate of Insurance.

What are the tax benefits under this Policy?

Answer

Tax benefits may be available on premiums paid and benefits receivable as per prevailing Income Tax Laws. These are subject to change from time to time as per the Government Tax laws. Please consult your tax consultant before investing. 

What is the Waiting Period under this Policy?

Answer

There is a waiting period of 30 days under Hospitalization Cash Benefit and of 14 days if diagnosed under COVID-19 (Other than hospitalization due to accident) from the member risk commencement date for eligibility of HCB, Sum Insured will be reinstated in full at the beginning of next policy commencement date irrespective of the member claiming or not claiming the hospital cash benefit in the previous policy period. Waiting Period is not applicable from second policy period onwards in case of continuous renewal of the policy. 

What are the exclusions under this Policy?

Answer

Below are the exclusions in the policy:

1 ) Less than 24 consecutive hours of Hospitalization is not eligible for hospitalization benefit except for diagnosis of COVID-19.

2) Hospitalization claim event cannot be within 15 days of a previous hospitalization date which resulted in claim event (proximity of claim) i.e from one hospitalization date to another hospitalization date there should be at least gap of 15 days.

3) Hospitalization primarily for diagnostic / Evaluative procedures where no active regular treatment is given by a doctor or hospitalization for such treatments or procedures customarily and usually performed by Medical Practitioners in the Out Patient Departments or clinics and casualty settings. For COVID-19 the diagnosis done at unauthorized testing centers or inconclusive medical report.

4) If you or the Nominee or anyone acting on your or their behalf advances any claim knowing the claim to be false, dishonest or fraudulent, then this Cover shall be void and any amounts paid or potentially payable under the Cover shall be forfeited.

Suicide Exclusion: This is not applicable under this policy.

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Why IndiaFirst life

1.6 Crore

Lives secured since Inception

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Available in 16,500+

BOB & UBI Branches

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27,073 Crore

AUM as of Feb'2024

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1 Day

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