How do I look for the best insurance plan?

IndiaFirst Life
• 07 Jun, 2022

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As children, our parents always cushioned us from most of the adversities of life - but no one spoke about preparing for the certainties. As a result, we grew up not giving it much of a thought and hence didn't prepare ourselves ahead of time. However, as we entered adulthood and began shouldering more and more responsibilities, we realized that life demanded that we prepared ourselves – be it marriage, a child’s education or even retirement. Predominantly, if you have people who depend on you, you must look out for ways that will safeguard their future and provide them with financial security even when you're not around.

But what is this back-up plan, you might ask? In this context, it is as simple as buying a life insurance policy. However, with a myriad of companies offering insurance policies online and offline, it might seem like a confusing ordeal. And unlike many other financial products, a life insurance policy affects our entire life. Therefore, there are a few things we need to be mindful about before buying a suitable plan.

What To Look For When You’re Purchasing A Life Insurance Policy?

1. Consider the number of loved ones you will be covering for

Financial responsibilities of a single person may differ from the one who is married and with kids. Hence, make sure you consider each and every person who is dependent on you and calculate the cover amount accordingly.

2. Don’t let your family compromise on their lifestyle

Evaluate the funds your family would require maintaining your current lifestyle while taking inflation into consideration and plan your life cover. Also, the cover amount should be determined based on family’s needs & not just your income

3. Count your liabilities

If you have any existing liabilities such as short-term loans, personal loans, home loan, and car loan, include the repayable amount in the life cover that you have availed.

4. Add an additional umbrella of protection

While purchasing a life insurance policy, take riders like accidental death benefit, critical illness care, return of premium etc. These riders can cost a little, but the benefits provided by them are definitely worth the extra cost.

5. Get the right advice

Choose an advisor who possesses the right knowledge and is capable of answering all your questions. A good advisor will help you not only with the perfect policy but also with the points mentioned above. You'll typically get what is called a free look period. If for some reason you don't feel the policy is right for you, this is the time when you can change your mind with no financial obligation.

The best life insurance policies should cushion your risks proficiently. So, make sure you don’t harbor any doubts and make the right choice while purchasing a Life Insurance Policy.

by IndiaFirst Life
Headquartered in Mumbai, IndiaFirst Life Insurance Company Limited (IndiaFirst Life), with a paid-up share capital of INR 754.37 crore, is one of the fastest growing private life insurers in India in terms of New Business IRP in Fiscal 2023. Our key differentiators are our simple, easy-to-understand products that are optimally priced. As of Sept 30, 2023, we offered 30 retail products, 13 group products along with six riders (across retail and group portfolios), along with policies under the PMJJBY scheme, catering to protection, savings, health and retirement needs of our customers, leveraging multiple distribution capabilities and augmenting various investment options. In all propositions under the categories of Participating Plans, Non-Participating Savings Plans, Non-Participating Protection Plans, Unit Linked Insurance Plans, Group Protection Plans, Corporate Funds Plans, Riders & PMJJBY form a complete suite of offerings that help our customers prepare for the certainties of life. Our products are easy to understand and optimally priced with a developed comprehensive risk management framework/policy.

Product Category Term Plan

IndiaFirst Life Guaranteed Protection Plus Plan

Product Image
Product Name: IndiaFirst Life Guaranteed Protection Plus Plan
Dropdown Field: Tax Saving
Product Description: Need a protection plan that is tailored especially for your needs? Look no further! This plan aims to give you and your family financial security in an easy and convenient way.
Product Benefits: Option to Get Your Money Back (ROP)
Tailormade plans
Flexibility to pay premiums at your convenience.
Insure your spouse in the same policy
Cover till 99 years of age
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More

IndiaFirst Life Plan

Product Image
Product Name: IndiaFirst Life Plan
Dropdown Field: Tax Saving
Product Description: A protection plan for your family that helps them stand independently! IndiaFirst Life Plan gives your family a financial cushion to fall back on in your absence.
Product Benefits: Flexibility to choose the duration
Family will receive the payout
Flexibility to choose the assured amount
Long term protection
Tax* benefits
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More

IndiaFirst Life Radiance Smart Invest Plan

Product Image
Product Name: IndiaFirst Life Radiance Smart Invest Plan
Dropdown Field: Investment
Product Description: Have you heard of a plan that not only gives you a life cover but also helps in wealth creation? Enjoy 2 benefits in 1 plan with IndiaFirst Life Radiance Smart Invest Plan.
Product Benefits: Zero Fund allocation charges
10 different funds to choose from
3 plan options to achieve your investment goals
100% money invested for higher returns
Life cover charges returned at the end of policy year
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More

IndiaFirst Life Guarantee of Life Dreams Plan

Product Image
Product Name: IndiaFirst Life Guarantee of Life Dreams Plan
Dropdown Field: Savings
Product Description: Wouldn't it be wonderful if we had a second source of income to support our dreams? Here is a way to make your dreams come true where you can start earning an income from the end of the 1st month itself.
Product Benefits: Choice of 3 income Options
Guaranteed Long-Term Income
Life Insurance Cover
Benefits of long-term Savings.
Protection even if you miss one premium.
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More

Indiafirst Life Guaranteed Single Premium Plan

Product Image
Product Name: Indiafirst Life Guaranteed Single Premium Plan
Dropdown Field: Guaranteed Returns
Product Description: Wondering if there is a way to get 7x return on your investments? Your search ends here! With this single payment plan, you can achieve your financial goals.
Product Benefits: Guaranteed 7x returns on investment
One-time payment (Single Pay)
Tax saving benefits
Life Cover that is 1.25 times higher
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More

IndiaFirst Life Guaranteed Pension Plan

Product Image
Product Name: IndiaFirst Life Guaranteed Pension Plan
Dropdown Field: Retirement
Product Description: Make your golden years truly golden! Invest in the Guaranteed Pension Plan that is designed to guarantee an income for as long as you live.
Product Benefits: Receive income during retirement years.
Choose among 5 different annuities.
Option to extend pension benefits to loved ones.
Return of purchase price
Increasing annuity(pension) option
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More

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