Ensure a certain & secure future for your loved ones!

Life Insurance Policy

IndiaFirst Life Insurance offers various types of life insurance plans to meet different goals of your life and to ensure your loved ones' protection. A life insurance policy need not be difficult to understand. At IndiaFirst Life, we take pride in creating life insurance solutions that are simple, affordable, and
effective.

Secure your loved ones
Build wealth
Plan for second inning of your life
Invest for your kid’s education
Get guaranteed income
Enjoy dual benefits of insurance

Learn More

What is a Life Insurance Policy?

A life insurance plan is essentially an agreement between an insurance provider and a customer. The insurance company commits to pay a lump sum to one or more beneficiaries in the event of the insured person’s passing during the policy term. And the policyholder pays a fixed amount at regular intervals to keep the policy active. To put it simply, life insurance acts like a financial safety net for your loved ones.

Today, you will find different types of life insurance plans online. Some focus on financial returns, such as ULIPs that offer investment-linked growth and guaranteed returns plans offering a source of income. Others primarily offer financial security, such as term insurance plans and savings plans. Hence, it is imperative to gauge your needs before choosing a life insurance plan.

IndiaFirst Life Finds

According to a survey carried out by the collaboration between the Indian Council of Medical Research (ICMR) and the Public Health Foundation of India (PHFI), the IHME, and experts from across India, in 2016, the life expectancy of males was 66.9 years and that of females was 70.3 years.

Is Buying a Life Insurance Policy Important?

With a life insurance plan, you can better deal with the following aspects of your and your loved ones’ lives:

Financial Security

A death benefit can be used to meet financial obligations and outstanding debt, which helps take the burden off of your nominee/family member.

Coverage of Income Loss

A death benefit can be used to replace the loss of a source of income. You can opt for certain plans tailored to offer this kind of help.

Inheritance and property management

Dealing with inheritance processes and estate planning may need a steady cashflow in place. A well-planned life insurance purchase may help you set up the same.

End-of-Life Expenses

Payouts received from a life insurance plan can be used for end-of-life expenses and funeral costs, both of which can often come up without warning.

Stability in business

Business-related expenses such as the setting up of contracts, paying off of debts, and putting money into certain initiatives, can come up unannounced. Again, making a well-planned choice when you buy a life insurance policy could help in times of need.

Financial security after retirement

Staying stress-free during retirement cannot be possible without financial security. Pension/retirement plans can help you achieve the same.

Peace of Mind

An essential aspect of your and your family members’ lives, peace of mind can be achieved with a life insurance policy (even if it is a basic term insurance policy). The financial backup it provides can help keep worries at bay.

Who Should Buy a Life Insurance Policy in India?

Anyone who understands the implications of future risk and wishes to secure their loved ones should purchase a life insurance policy. For someone in their 20s, a life insurance policy can help cover expenses such as school debts. Someone who has just crossed the age of 30 can use a life insurance policy for maybe a monthly income or any other similar need.

It can be said that any stage of life that a person is in, a life insurance policy can help them with unforeseen and unwelcome situations. A person can also purchase a long-term insurance policy for life.

The suitability of a life insurance policy does not restrict itself only to age.

You can also purchase a policy if the insured individual –

Is not a permanent citizen of the country
Indulges in smoking
Is suffering from a medical condition
Is affected by a disability

For the above situations, the policy particulars, such as premium value and sum assured will vary on a case-to-case basis.

Tip: One can use an online life insurance calculator to understand the particulars of a policy. The tool takes in basic personal information of the life insured, along with the selected policy features, to provide estimates of the premium payments.

Build your future with IndiaFirst Life

With our range of plans offering various kinds of life insurance benefits, you can

Protect your loved ones
Build the family legacy
Plan your child’s future
Plan your retirement
Set up a second income
Buy a house

Basic Life Insurance Terminology

In order to understand life insurance policy details and buy life insurance, there are a few basic life insurance terms you should know.

Policy holder

When you buy life insurance and make periodic life insurance premium payments, you become a life insurance policy holder. While you own the policy, the life assured within the life insurance cover could be someone else.

Life assured

The insured person who has life cover as mentioned in the life insurance policy details.

Life insurance premium

The amount you pay to buy life insurance and keep the policy active.

Sum assured

The guaranteed sum of money that your nominees/beneficiaries will receive in case of the life insurance policy holder's demise.

Death benefit

This is the amount paid to the nominee if the policy holder dies during the policy term. The death benefit and the sum assured are not the same—the death benefit is likely to be higher than the sum assured as it includes rider benefits and bonuses (if any).

Survival/maturity benefit

A survival benefit is paid to the policy holder upon completing a pre-determined amount of life policy tenure. In contrast, a maturity benefit is paid when the insured outlasts the life insurance policy term. Pure protection or term life insurance plans do not offer either benefit.

Riders

Riders are additional features that can be added to life insurance plans for a fee to expand the scope of the basic life cover policy. Typical life insurance rider options include accidental death benefit rider, accidental total and permanent disability benefit, critical illness cover, and waiver of life insurance premium rider.

IndiaFirst Life Empowers

IndiaFirst Life has an informative guide for individuals new to life insurance, called Insurance Ki Kitaab. With this initiative, IndiaFirst Life looks to empower people with the right knowledge about life insurance and a good understanding of its significance in their lives.

Different Types of Life Insurance Policies

Participating (par)

These policies usually have a minimum guaranteed amount that is payable upon death or maturity in addition to the bonuses declared from time to time. The bonuses once declared, accrue to the policy, and are guaranteed.

Non-participating (non-par)

These products are also known as term plans. They’re pure protection plans spanning 99 to 100 years and providing life coverage in exchange for a premium to be paid every year.

Non-participating Savings

These are the products that offer benefits that are guaranteed in absolute terms at the beginning of the policy, thereby transferring the risk of guarantees and returns to the insurance company.

Unit Linked Insurance Plans (ULIPs)

It offers a combination of investment and protection where customers have the flexibility to decide the asset classes in which their contributions are invested, depending on their risk appetite.

Based on the above categorisation, a life insurance company usually offers the following products –

Term Insurance Plans

The simplest type of life insurance providing a death benefit upon the untimely demise of the policyholder.

Endowment Plans

Low-risk savings options offering a death benefit along with pay-outs.

Retirement Plans

Designed to be purchased during the working years of an individual and to create a corpus for the individual to rely on during their retirement years.

Savings Plans

Encourages disciplined savings by disbursing invested money at steady intervals. They may also offer a death benefit and may include critical illness coverage.

Group Insurance Plans

Meant to cater to many individuals (group) by providing life insurance coverage to the nominees of all members of the group.

Child Insurance Plans

Designed to provide a death benefit along with pay-outs at different stages of the child’s education.

Wealth Creation Plans

ULIP-based products providing the benefits of market growth along with life insurance coverage.

Money-Back Plans

Offers financial life insurance coverage along with payouts based on the money invested.

Explore Our Life Insurance Plans

Products

IndiaFirst Life Elite Term Plan

Product Name: IndiaFirst Life Elite Term Plan
Product Description: With IndiaFirst Life Elite Term Plan, you not only fulfil your commitment, but also ensure that money is the last thing your family have to worry about. IndiaFirst Life Elite Term Plan is a pure protection plan that ticks everything off your checklist.
Product Benefits: High cover at affordable cost
Lifetime protection till age 99 years
10% discount on 1^st Premium on online buy
Tax benefits as per applicable tax laws
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Tax Saving

Products

IndiaFirst Life Radiance Smart Invest Plan

Product Name: IndiaFirst Life Radiance Smart Invest Plan
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
Product Benefits: Zero allocation charges
Give you a life cover
Covers death caused by accidents
Helps in investment optimization
Reduce risks
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Investment

Products

IndiaFirst Money Balance Plan

Product Name: IndiaFirst Money Balance Plan
Product Description: Balanced growth, secured future: A unique unit-linked insurance plan balancing market investments and security.
Product Benefits: Automatic fund management for risk balance
Life cover with investment growth
Systematic switching between equity and debt
Tax-efficient ULIP investment
Liquidity through partial withdrawals
ULIP policy with a safety net
Ideal for conservative investors
Easy online policy management
Assured ULIP life insurance benefits
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Investment

Products

IndiaFirst Life Plan

Product Name: IndiaFirst Life Plan
Product Description: Protect your family's future with IndiaFirst Life Plan – a plan that caters to your family's protection requirements and offers great benefits to keep your loved ones secure.
Product Benefits: Flexible Policy Term Options
Guaranteed Death Benefits
Choice to Customise Life Coverage
Tax Benefits
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Tax Saving

Products

IndiaFirst Life Guaranteed Pension Plan

Product Name: IndiaFirst Life Guaranteed Pension Plan
Product Description: Make your golden years truly golden! Invest in the Guaranteed Pension Plan that is designed for retirement planning & offers guaranteed 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
Product Buy Now URL and CTA Text: Know More
Dropdown Field: Retirement

Products

IndiaFirst Life Guaranteed Protection Plus Plan

Product Name: IndiaFirst Life Guaranteed Protection Plus Plan
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: Return of Premium Option
Affordable ₹1 Crore Cover
Flexible Payout Options
Lifetime Coverage Till 99 Years
Joint Life Benefit
Policy remains effective in your absence (WOP)
Critical Illness Cover
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Tax Saving

Products

IndiaFirst Life Guaranteed Single Premium Plan

Product Name: IndiaFirst Life Guaranteed Single Premium Plan
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
Dropdown Field: Guaranteed Returns

Products

IndiaFirst Life Guarantee of Life Dreams Plan

Product Name: IndiaFirst Life Guarantee of Life Dreams Plan
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.
Tax benefits
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Guaranteed Returns

Products

IndiaFirst Life Fortune Plus Plan

Product Name: IndiaFirst Life Fortune Plus Plan
Product Description: Start a personalized journey with this guaranteed savings life insurance plan that provides flexible premiums, guaranteed survival benefits, and cash bonuses (if declared) along with life insurance cover during the entire policy term of 15 or 20 years.
Product Benefits: Shorter pay commitment of 6,7,8,9 or 10 years.
Get Guaranteed survival benefit.
Accumulate benefits with interest.
Sum Assured, bonuses*, and interests at maturity.
Policy remains effective in your absence (WOP).
Flexible premium payments options.
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Savings

Products

IndiaFirst Smart Save Plan

Product Name: IndiaFirst Smart Save Plan
Product Description: Smart saving, smarter investing: Tailor your investments and insurance with this versatile ULIP insurance plan.
Product Benefits: Customisable investment strategies
Life cover with market-linked returns
Multiple fund options for diverse portfolios
Flexibility in premium payments
Top-up facility for additional investment
Tax benefits on premiums and returns
Easy switch between funds
Secure online policy management
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Investment

Products

IndiaFirst Life Mahajeevan Plus Plan

Product Name: IndiaFirst Life Mahajeevan Plus Plan
Product Description: Imagine security, savings and cash flow all bundled up to fit your unique financial needs.
Product Benefits: Life cover of up to 15 or 20 years
Periodic Cash backs
Flexible payment options
Uninterrupted Life Cover
Potential Bonus Earnings
Money Back Discounts with Early Premium Payments
Tax Benefits*
Added Protection with Riders
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Savings

Products

IndiaFirst Maha Jeevan Plan

Product Name: IndiaFirst Maha Jeevan Plan
Product Description: Enjoy a guaranteed maturity amount, annual bonuses^, flexible life insurance coverage options and potential terminal bonuses. Tailor your coverage to meet your family's financial needs.
Product Benefits: Flexible Payouts of 15-25 Years
Get guaranteed maturity benefit + bonuses (if declared)
Policy remains effective in your absence (WOP).
Flexible Premium Payment Options
Tax Benefits*
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Savings

Products

IndiaFirst Life Long Guaranteed Income Plan

Product Name: IndiaFirst Life Long Guaranteed Income Plan
Product Description: An endowment life insurance plan which guarantees regular income, making it an excellent guaranteed savings plan.
Product Benefits: Short-Term Payments, Long-Term Gains
Guaranteed Income to fulfill Financial Goals
Lifetime Income Till 99 years of age
Premium Payback Assurance
Continuous Life Cover without any interruption
Enhance with Optional Riders
Tax Benefits*
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Guaranteed Returns

Products

IndiaFirst Life Cash Back Plan

Product Name: IndiaFirst Life Cash Back Plan
Product Description: A plan that offers guaranteed payouts at regular intervals to meet your specific financial needs.
Product Benefits: Pay for shorter period, enjoy long term benefit
Get Periodic Payouts
You can stay invested for 9, 12, or 15 years
Guaranteed Payouts at regular intervals
Receive Guaranteed Additions# after completion of every policy year!
Comprehensive Risk Cover
Tax Benefits*
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Savings

Products

IndiaFirst Simple Benefit Plan

Product Name: IndiaFirst Simple Benefit Plan
Product Description: Introducing a non-linked endowment life insurance plan offering life cover, assured savings, and bonuses on specific events.
Product Benefits: Flexible Policy Term
Instant Policy Issuance
Comprehensive Death Benefit
Guaranteed Maturity Payout
Tax Benefits*
Receive reversionary & terminal bonus (if declared)
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Savings

Products

IndiaFirst Life Guaranteed Monthly Income Plan

Product Name: IndiaFirst Life Guaranteed Monthly Income Plan
Product Description: A non-linked, participating, limited premium, life insurance plan which offers guaranteed monthly income and life cover – an ideal blend for your family's security and prosperity.
Product Benefits: Guaranteed Monthly income
Choose Policy term between 16 to 27 years.
Flexible Premium Payment Options
Stand to Receive from 105% to 125% of your premiums Annually
Comprehensive Death Benefit
Tax Benefits*
Receive Simple Reversionary Bonus & Terminal Bonus (if declared)
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Guaranteed Returns

Products

IndiaFirst Life Micro Bachat Plan

Product Name: IndiaFirst Life Micro Bachat Plan
Product Description: Save smartly for your future goals with just 5 years of premiums. Get covered for up to 10 or 15 years, ensuring peace of mind for your loved ones.
Product Benefits: 5-year premiums for long-term goals
Life cover for an entire year even if one premium is missed
Annual bonuses for boosting savings
Accidental Death Benefit option
Payouts in a lump sum or instalments over 5 years for death benefit
Tax benefits on premiums and maturity amount as per prevailing tax laws
Waiver of Premium Rider option
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Micro Insurance

Products

IndiaFirst Life Saral Bachat Bima Plan

Product Name: IndiaFirst Life Saral Bachat Bima Plan
Product Description: A comprehensive savings plan for your family's financial security with guaranteed benefits, shorter payment terms & life cover.
Product Benefits: Long-Term Protection
Shorter Pay Commitment of 5 or 7 years.
Yearly Guaranteed Additions
Flexible Death Benefits
Receive Additional Sum Assured on Accidental Death
Policy Remains Effective in Your Absence (WOP)
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Group Insurance

Products

IndiaFirst Life Guaranteed Benefit Plan

Product Name: IndiaFirst Life Guaranteed Benefit Plan
Product Description: A non-linked, limited premium endowment policy with 5/ 6/ 7-year commitment, providing savings, protection, and flexible options to suit your needs.
Product Benefits: Choose Income or Lumpsum Benefit
Customize your plan
Limited Premium Payment Period
Continuous Life Cover
Waiver of Premium Rider
Tax Benefits*
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Guaranteed Returns

Products

IndiaFirst Life Smart Pay Plan

Product Name: IndiaFirst Life Smart Pay Plan
Product Description: A smart solution designed to offer money-back plan with shorter pay commitments, liquidity, and life cover.
Product Benefits: Shorter Premium Payment Period
Uninterrupted Life Cover
Get 103% of one annual premium as Survival Benefit
Get Sum Assured at Maturity + bonuses (if declared)
Policy remains effective in your absence (WOP)
Tax Benefits*
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Savings

Products

IndiaFirst Life Micro Insurance Khata Plan

Product Name: IndiaFirst Life Micro Insurance Khata Plan
Product Description: A simple, secure, micro-life insurance and endowment plan. This savings plan protects your family's needs in case of emergencies, while also ensuring returns on your investment.
Product Benefits: Simple and easy to purchase policy
Family financial protection
Guaranteed benefit on maturity
Flexible coverage options
Increase coverage with additional premiums
Assured benefit clarity right at the inception
Tax benefits on premium and maturity amount
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Micro Insurance

Products

IndiaFirst Life POS Cashback Plan

Product Name: IndiaFirst Life POS Cashback Plan
Product Description: Plan offers you the best of both worlds: Regular Cashback to enjoy your present and a Guaranteed Maturity Payout to plan your future.
Product Benefits: Family security
Regular payouts
Limited premium
Tax benefits
Flexible term options
High risk cover
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Savings

Products

IndiaFirst CSC Shubhlabh Plan

Product Name: IndiaFirst CSC Shubhlabh Plan
Product Description: Enjoy the convenience of smaller savings with IndiaFirst CSC Shubhlabh Plan, a low premium insurance plan that protects your family from life’s uncertainties while growing your investment year on year.
Product Benefits: Hassle-free enrollment
Guaranteed extra returns @ 4% p.a. for first 5 years
Easy access to funds after 5 years
Build wealth & get life cover.
Flexible premium payments options.
Tax benefits*
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Savings

How Does a Life Insurance Policy Work?

When you buy a life insurance policy, the insuring company becomes obliged to provide a certain pre-decided amount (life insurance payout). This payout is directed to the pre-selected individual/s (nominee/s), upon the insured individual’s demise. For a life insurance policy to be active, certain payments (premiums) need to be paid to the insurance company by the policyholder.

To put it simply, a policy-buyer pays a certain sum of money in the present for the nominee to receive a more significant sum of money in the future. Since there are different types of policies, the value and manner of premium payment will vary accordingly.

For example, if it’s a term policy, the premiums will be charged mainly for the pre-selected amount (death benefit) to the nominee upon the insured individual’s demise. If it’s an endowment policy or a guaranteed return plan, the insured individual may receive a payout at the end of the policy, upon survival. Each type of policy comes with certain inclusions and exclusions, which determine what benefits the nominee can avail.

Benefits of Life Insurance Policy in India

After understanding what life insurance is and looking through its types, let’s get familiar with the benefits of its plan offerings.

Coverage against Risk

The life insurance death benefit payout is the most important aspect of a policy. It is a direct solution for the ever-present risk of the insured individual passing away without any warning.

Growth of Funds

ULIP-based plans let you invest in market-linked options to allow your wealth to grow over a certain period.

Coverage for Increasing Expenses

A life insurance policy in India can offer different benefits, such as riders or coverage boosts and premium waivers. These can help you better deal with future emergencies or increasing expenses.

Guaranteed Returns

Certain plans let you save your money and then receive fixed benefits in the future.

Loan Facility

A loan can be taken out on your life insurance policy, to meet additional expenses.

Tax-savings

Premiums paid toward a life insurance policy can be eligible for tax deductions. The same benefit could be availed on benefits paid out by policies, depending on prevalent and applicable tax laws and regulations.

IndiaFirst Life Finds

According to a renowned professor from the All India Institute of Medical Sciences, every 4 minutes, a person in India passes away due to a stroke.

Tax Benefits of Life Insurance

Life insurance plans are tax-efficient instruments.

Tax Benefits On Life Insurance Premium Amounts

Under provisions of the IT Act – Section 80C, you can claim a tax deduction of up to Rs. 1.5 lakhs on premiums paid for life insurance of India. Pension life insurance cover premiums are eligible for deductions under Section 80CCC. A maximum deduction of Rs. 25,000 is allowed under Section 80D for health insurance plans.

Tax Benefits On Life Insurance Cover Claims

One of the best benefits of life insurance plans is that the claims received are tax-free under Section 10(10D).

Commuted Pension Tax Benefits

Under Section 10(10A) of the IT Act, 1/3rd of the sum withdrawn as cash from deferred annuity life insurance policy plans is called commuted pension and is tax-free.

Choose the Right Life Insurance Policy

It’s of utmost importance that future policyholders in India choose the best life insurance policy for their and their nominees’ financial security.

To do so, the following tips should be kept in mind:

Always keep in perspective 3 things – current financial conditions, future expected expenses, long-term wealth goals
Keep track of your assets and liabilities
Take into account the current and future needs of the people dependent on you
Browse different types of policies, product offerings, and compare life insurance policy quotes
When choosing a life insurance company, look at important after-purchase factors such as customer service and claim settlement ratio
Consider factors such as emergencies and rate of inflation when choosing policy particulars such as sum assured and premium amount
To avoid any lapse or delay in your payments, ensure to consider current and future affordability before purchasing a policy

“IndiaFirst Life’s Radiant Smart Invest Plan has completely won me over! It’s like having a trusted ally in my financial journey.”

- Paulomi Banerjee (an IndiaFirst Life customer)

Why do You need a Life Insurance Plan?

One of the fundamental reasons to buy life insurance is to ensure that your family members have financial support in case of your demise.
Irrespective of their age, your children will always be your responsibility. Life insurance investment & savings plans help you save for your child’s future.
With the right types of life insurance plans, you can ensure that a second stream of income is created to replace your professional income after retirement.
Different types of life insurance plans are connected to different investment instruments that help you achieve your investment and insurance goals.
Life insurance plans provide death benefits or life cover to take care of the debt or liabilities in case something happens to you.
Plans that offer life insurance with cashback provide periodic payments which can be used to meet financial contingencies.
You get to enjoy the tax benefits on the premium paid and on the sum assured under Section 80C and 10(10) D of the Income Tax Act, 1961

What Are The Types of Riders Available in a Life Insurance Policy?

With the help of life insurance riders, policyholders can add extra provisions to their policy and therefore avail coverage and benefits more suited to their needs.

Let’s look at some of the types of rider types one may come across while browsing through plans:

Critical Illness Rider

To avail coverage for any critical illness affecting the insured individual
Accidental Death Benefit

To cover death due to accidents
Long-Term Care Rider

To cover expenses arising out of the long-term medical care of the insured individual
Accelerated Death Benefit Rider

To avail a portion of the life cover when the insured individual is alive
Waiver of Premium Rider

To let the policy be active without a certain number of future premium payments
Child Term Rider

To avail financial coverage upon the unfortunate passing away of a child

How Much Life Insurance Coverage Do You Need?

Analyse your financial situation—income, liabilities, and future responsibilities before you buy life insurance. Calculate the life insurance cover you need based on your current income, potential growth prospects in terms of salary, current living standards and expenses, projected future living costs, inflation, financial liabilities such as loans, and responsibilities such as children's education and marriage.

When browsing through plans, an online life insurance calculator can be an invaluable tool. It can help you understand how your needs and preferences determine the policy benefits and pricing.

Things To Consider Before Finalizing a Life Insurance Policy

Future goals

How your finances should look in the future will determine what kind of policy you should opt for. Goals will range from simple wealth creation to specific milestone expenses for your family members, such as education funds and marriage.

Financial obligations

A well-chosen life insurance policy may cover debt and liabilities with its benefits. It is important to consider all the financial burdens to ascertain the right policy to buy.

Age

The coverage and premium value of a policy depends on the age of the insured individual. The younger the individual, the likelier it is that premium value will be lesser.

Timeframe

Consult an expert to understand how long it will take for your goals to materialise and accordingly how long should your purchased policy last. If needed, you can also purchase an insurance policy for life. After all, it is towards the end of your life that you may experience maximum uncertainty.

Insurer's reliability

The insurer you choose will ultimately determine –

what kind of policy you can purchase
what are the benefits you can avail
what kind of experience you will have as a customer/policyholder after purchasing the plan.

Consider an insurance company’s claim settlement processes, solvency ratio, customer experience, and other significant factors, before finalisation.

IndiaFirst Life Cares

As of September 30, 2023, we are offering 30 retail products, 13 group products and 6 riders (across retail and group portfolios). All of them are designed to protect your financial situation by meeting the savings and retirement needs of customers.

Documents Required to Buy a Life Insurance Plan in India

To buy a life insurance policy, the following documents will be needed from a potential policyholder:

PAN card
Proof of Address
Any previous relevant medical records
Birth Certificate
Income Tax Return receipts

How to buy a Life Insurance Plan from IndiaFirst Life?

The process of buying an online life insurance policy is very straightforward -

Step 1

Basic details

Share your basic details like name, D-O-B, mobile number, gender, person for whom you want to buy the policy, email id, etc.

Step 2

Additional Details

Share life cover, investment, or annuity details as per your goal.

Step 3

Get Quote

Quickly generate a quote to calculate your premium or returns.

Step 4

Payment details

You can choose from our online life insurance plans and make the payment on the website, or our sales expert will reach out to you to explain the details further.

Step 5

Pay Premium to Activate Cover

Finalize your plan, complete details, pay online, and submit documents for instant activation.

What are Some Aspects That Affect Life Insurance Premiums?

The life insurance premium you pay depends on several factors, such as:

Age

The earlier you buy life insurance the lower the life insurance premium will be.

Gender

Women tend to live longer than men and are typically offered lower life insurance premium rates.

Medical history

Even with no medical life insurance policies, you are required to disclose past medical history and family history of illnesses as they impact your life insurance premium.

Smoking habit

Smokers have a higher mortality rate and tend to contract more illnesses than non-smokers. Life insurance premium amounts reflect risk, so smokers tend to pay a higher life insurance premium.

Insurer

Choose a transparent and reliable company offering the best life insurance plans in India to ensure that you get the most competitive rates.

Why Choose IndiaFirst Life Insurance Plans?

Our online buying processes, easy payment methods, comprehensive product information, and sales team that helps you choose the best life insurance plans make us your best choice.

Trusted by 1.6 Crore+ Customers for their life insurance policy

Promoted by Bank of Baroda

High Claim Settlement Ratio of 98.04%

Seamless Online and Offline Experience

100% Genuine Claims are Settled in 1 day.

File a Life Insurance Claim with Ease

To file a claim on a purchased life insurance policy, you simply have to visit the website of the insurer and visit the claims section. You will be asked to verify policy details and submit all the required details of the life assured and nominee for the insurance company to initiate the claim.
You can apply for a claim via a non-digital way. Just pick up your phone, dial the customer service desk of the insurance company, and inform them of the situation and the required details needed to file the claim.
For a more traditional approach, visit a branch of the insurance company with all the mandatory documents and fill up the necessary forms to submit the claim details.

Tips for Avoiding Life Insurance Claim Rejection

A seamless approval of a claim is a much-needed convenience in times of emergencies and stressful situations.

To ensure a claim does not get rejected, keep in mind the following tips:

Understand your policy document and the mentioned benefits and services completely in order to prevent any misunderstanding during the claims process
When filling out a life insurance policy, be honest in submitting information about your health and other private details
Pay all your premiums on time
Ensure your representative/nominees/family members connected to the life insurance policy are familiar with the policy details and the claims process
Disclose all relevant changes or updates to your health, lifestyle, and situation, to the policyholder

Eligibility Criteria

Age
Education
Income

The minimum age at entry is 18 years for self and spouse.

Question: Age
Answer: The minimum age at entry is 18 years for self and spouse.
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Minimum age at entry for a child is 0-90 days.

Question

Age

Answer

Minimum age at entry for a child is 0-90 days.

The maximum age depends on the specific policy. It may differ between 60 to 80 years.

Question

Age

Answer

The maximum age depends on the specific policy. It may differ between 60 to 80 years.

The minimum education qualification is graduation for term plan.

Question

Education

Answer

The minimum education qualification is graduation for term plan.

The minimum yearly income is 2 Lakh, this may differ basis policy types.

Question: Income
Answer: The minimum yearly income is 2 Lakh, this may differ basis policy types.
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Frequently Asked Life Insurance Questions

Why are life insurance riders important for me?

Answer: Life insurance riders can enhance the effectiveness of your basic life insurance plan. Via riders, you can avail better protection and enhanced coverage. Some examples are the waiver of premiums and coverage for terminal illnesses. What kind of rider is important for you will directly depend on your situation. Do take the help of a life insurance calculator to understand how adding riders defines your policy’s purchase value.

What does a life insurance plan not cover?

Answer

The things not covered by a life insurance policy, called as exclusions, depend on the type of policy and the insurer you opt for. Many exclusions may revolve around the cause and the conditions surrounding the demise of the insured individual.

For example, a life insurance policy may not cover the following kinds of situations–

Demise due to driving under the influence of intoxicating substances
Demise due to engagement in any illegal activity
Demise due to HIV/AIDS
Demise due to homicide
Demise due to natural disasters
Demise due to participation in any adventure sport
Demise due to participation in any dangerous competitive sport or activity
Demise due to pregnancy or childbirth complications
Demise due to self-inflicted injury
Demise due to undisclosed pre-existing health conditions

At what age should one buy a life insurance policy?

Answer: Ideally, a person should buy a life insurance policy the moment they begin to have people financially dependent on them, such as a parent, spouse, or child. The earlier the purchase made in life, the lower the premiums for the policy will be. At times, the insurance company would need the insured individual to undergo certain medical check-ups to better ascertain their health. Again, the younger the individual undergoing the tests, the lesser the probability of getting any concerning test results and subsequently higher premium values.

Can a disabled person be covered by life insurance?

Answer: Yes. In most cases, a disabled person can be covered by life insurance. However, the policy’s terms and conditions may differ from the more standard inclusions and exclusions. One should consult an expert to explain their situation and then understand what policy would best suit the needs of a disabled person.

Can a life insurance policy cover an individual who smokes?

Answer: Yes. However, for insuring individuals who smoke, the life insurance policy quotes will be higher, since smoking is considered a health hazard. Compare the premium estimates for different plans before zeroing in on one.

Can a person be covered by life Insurance if they’re suffering from a terminal illness?

Answer: Yes, in most cases. A person suffering from a terminal illness will have a higher probability of passing away and facing additional end-of-life medical expenses. Therefore, insurers need all relevant information of the individual beforehand to set the correct terms and conditions for a policy to be purchased and come into effect. As long as all the requirements set by the insurer are met, a person suffering from a terminal illness can avail of life insurance coverage.

Can a person with a pre-existing illness be covered under a life insurance policy?

Answer: Yes, a person with a pre-existing illness can be covered under a life insurance policy. The aspiring policyholder should ensure that all information pertaining to any relevant pre-existing illness is provided to the insurance company. Failure to do so may impact the claim process and the active status of the policy in the future.

Is buying more than one life insurance policy a wise decision?

Answer: It depends on your needs. There is no rule against purchasing more than one policy. One should only ensure that the premium payments involved do not strain their finances. Consider the post-purchase journey as well, where one has to manage different premium payment frequencies and amounts.

For individuals new to life insurance, a single comprehensive policy covering all situations and providing all essential benefits will be much easier to purchase and manage.

What are the benefits of buying a life insurance plan online?

Answer: Buying online life insurance offers many advantages. If you buy life insurance online, you are purchasing directly without paying commission to intermediaries. You can make an informed choice by checking online life insurance policy reviews, comparing types of life insurance policy options, and understanding the benefits of life insurance policies. You get access to online services and 24x7 customer support when you buy online life insurance policy plans. As compared to offline purchasing, you can buy life insurance online quickly, easily, and in a paperless manner.

What are the different life insurance plan options offered by IndiaFirst Life?

Answer

IndiaFirst Life Insurance provides different types of life insurance policy options, including whole life assurance policy, permanent life insurance plans, pure protection life cover, and life insurance investment plans.

The primary categories or types of life insurance plans offered by IndiaFirst Life include:

ULIP - IndiaFirst Life Wealth Maximizer Plan, IndiaFirst Money Balance Plan, IndiaFirst Life Radiance Smart Invest Plan
Non-participating savings - IndiaFirst Life Guaranteed Benefit Plan, IndiaFirst Life Cash Back Plan, IndiaFirst Life Long Guaranteed Income Plan, IndiaFirst Life Saral Bachat Bima Plan, IndiaFirst Life e-Term Plus Plan, IndiaFirst Life Guaranteed Pension Plan, IndiaFirst Life ‘Insurance Khata’ Plan, IndiaFirst Life Guaranteed Annuity Plan
Participating - IndiaFirst Life Mahajeevan Plus Plan, IndiaFirst Life Micro Bachat Plan, IndiaFirst Life Little Champ Plan, IndiaFirst Life Guaranteed Monthly Income Plan
Non-participating protection - IndiaFirst Life Guaranteed Protection Plan
Riders - IndiaFirst Life Waiver of Premium Rider, IndiaFirst Term Rider

What are the different options available for life insurance premium payments?

Answer: The options to make life insurance premium payments are many. Some common ones are -

Paying every month

Paying every quarter

Paying twice in a year

Paying once in a year

What happens if the insured individual outlives the life insurance policy?

Answer: It depends on the policy that has been purchased. A typical life insurance policy does not offer any benefit if the insured person outlives the policy tenure. However, certain plans are designed to provide benefits upon survival. Consult with an expert to know more about such plans.

What is the meaning of paid-up value in life insurance?

Answer: After a certain period (say 3 to 5 years), upon failure to make the premium payments, a reduced sum assured amount is paid out instead of the actual pre-decided amount at the time of purchase. This reduced amount is said to be a ‘paid-up value’. Upon the passing away of the life insured, for no premium payments made beyond a certain year, the paid-up value is offered to the nominee and not the original sum assured value.

What will happen if a life insurance nominee dies before the insured individual?

Answer: A nominee who passes away will by default be ineligible to claim any entitled benefits from the policy. In such a situation, the policyholder can change the nominee. The details of this process and the subsequent changes and impact on the policy benefits can be discussed with the insurance company and/or an insurance policy expert.

Will I have to pay tax on a life insurance policys maturity benefit?

Answer: No. The maturity benefit is tax-free, courtesy of Section 10(10D) of the Income Tax Act of 1961. Do note that tax laws are subject to change with time, and you will have to keep updating yourself with the latest information in order to make the best use of your policy.

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Life Insurance Policy

What is a Life Insurance Policy?

IndiaFirst Life Finds

Is Buying a Life Insurance Policy Important?

Financial Security

Coverage of Income Loss

Inheritance and property management

End-of-Life Expenses

Stability in business

Financial security after retirement

Peace of Mind

Who Should Buy a Life Insurance Policy in India?

Build your future with IndiaFirst Life

Basic Life Insurance Terminology

Policy holder

Life assured

Life insurance premium

Sum assured

Death benefit

Survival/maturity benefit

Riders

IndiaFirst Life Empowers

Different Types of Life Insurance Policies

Participating (par)

Non-participating (non-par)

Non-participating Savings

Unit Linked Insurance Plans (ULIPs)

Term Insurance Plans

Endowment Plans

Retirement Plans

Savings Plans

Group Insurance Plans

Child Insurance Plans

Wealth Creation Plans

Money-Back Plans

IndiaFirst Life Elite Term Plan

IndiaFirst Life Radiance Smart Invest Plan

IndiaFirst Money Balance Plan

IndiaFirst Life Plan

IndiaFirst Life Guaranteed Pension Plan

IndiaFirst Life Guaranteed Protection Plus Plan

IndiaFirst Life Guaranteed Single Premium Plan

IndiaFirst Life Guarantee of Life Dreams Plan

IndiaFirst Life Fortune Plus Plan

IndiaFirst Smart Save Plan

IndiaFirst Life Mahajeevan Plus Plan

IndiaFirst Maha Jeevan Plan

IndiaFirst Life Long Guaranteed Income Plan

IndiaFirst Life Cash Back Plan

IndiaFirst Simple Benefit Plan

IndiaFirst Life Guaranteed Monthly Income Plan

IndiaFirst Life Micro Bachat Plan

IndiaFirst Life Saral Bachat Bima Plan

IndiaFirst Life Guaranteed Benefit Plan

IndiaFirst Life Smart Pay Plan

IndiaFirst Life Micro Insurance Khata Plan

IndiaFirst Life POS Cashback Plan

IndiaFirst CSC Shubhlabh Plan

How Does a Life Insurance Policy Work?

Benefits of Life Insurance Policy in India

Coverage against Risk

Growth of Funds

Coverage for Increasing Expenses

Guaranteed Returns

Loan Facility

Tax-savings

IndiaFirst Life Finds

Tax Benefits of Life Insurance

Tax Benefits On Life Insurance Premium Amounts

Tax Benefits On Life Insurance Cover Claims

Commuted Pension Tax Benefits

Choose the Right Life Insurance Policy

Why do You need a Life Insurance Plan?

What Are The Types of Riders Available in a Life Insurance Policy?

Critical Illness Rider

Accidental Death Benefit

Long-Term Care Rider

Accelerated Death Benefit Rider

Waiver of Premium Rider

Child Term Rider