Menu
close
Ask an Expert arrow
search
mic
close-search

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.

right-icon-placeholder
right-icon-placeholder
male male

Male

male male

Female

male male

Other

Key Features

Life Cover Continuity

Ensure uninterrupted coverage throughout the policy term.

cover-life

Boost Savings

Get opportunities for increased savings and investment growth within the policy.

wealth-creation

Maturity Benefits

Upon end of term, you get the sum assured on maturity, inclusive of accrued bonuses, if any.

secure-future

Accidental Death Protection

Provides additional coverage specifically for accidental death.

many-strategies

Premium Waiver

Future premium payments are waived in case of certain events, like disability or a critical illness.

many-strategies

Death Benefit Options

Allows you to choose how your death benefit is paid out to the beneficiaries, such as lump sum or regular income stream.

many-strategies

Steps to Buy IndiaFirst Life Micro Bachat Plan

Enter the basic details

Enter your name, age, and contact details in the provided form.

choose-plan

Choose the sum assured

Pick a sum assured from ₹10,000 to ₹2 lakhs. Also, decide on a policy term of 10 or 15 years.

premium-amount

Review your quote

Receive detailed quote. Check coverage, premiums, and policy terms.

select-stategy

Talk to our experts

Discuss with our team and get personalised advice. 

make-payments

Visualize Your Plan

alt

40 years

Mr Kumar purchases the plan with a sum assured of ₹1,50,000 for 15 years 

alt

40 - 45 years

Mr Kumar pays an annual premium ₹24,963 for 5 years

alt

52 years

Mr Kumar passes away in an accident

alt

Mr. Kumar’s Spouse

Receives an Accidental Death Benefit of ₹4,99,260 (at 4% interest) and ₹5,33,460 (at 8% interest) 

alt

Survival Benefit

 In the scenario where Mr. Kumar survives, at the end of the plan term, he receives a maturity benefit of ₹1,50,000 at 4% or ₹2,50,125 at 8% interest rate. 

alt

Eligibility Criteria

Maturity Age

Answer

PT 10 years: 55 years

PT 15 years: 65 years

Maximum Entry Age

Answer

PT 10 years: 45 years

PT 15 years: 50 years

*PT – Policy Term 

Minimum Entry Age

Answer

18 years

Policy Term (PT)

Answer

10/ 15 years

Premium Payment Term (PPT)

Answer

5 years

Premium Amount (annually)

Answer

₹1000

Sum Assured

Answer

₹10,000 to ₹2 lakhs*

 

*As per Board Approved Underwriting Policy

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

Can I get a loan in this policy?

Answer

Yes, you may benefit from a loan facility under this plan. 

 

The amount of the loan that you may avail at any point of time will depend on the surrender value. You may avail of a loan amount up to 90% of the available surrender value. The minimum loan amount should be Rs.1,000. We will charge interest at a rate of 9% per annum which may be revised by us from time to time subject to IRDAI approval. When the loan with accrued interest exceeds the surrender value, the policy will foreclose and outstanding loan along with accrued interest will be recovered from surrender proceeds. Loan outstanding along with interest, if any will be recovered from death/maturity proceeds in case if it is not repaid before the event of death or maturity.

Is there a grace period for missed premiums?

Answer

We provide you with a grace period which is the time provided for payment of premium from the premium due date during which the policy is considered to be in-force with the risk cover. This policy has a grace period of 30 days for yearly, half-yearly and quarterly frequencies and 15 days for monthly frequency from the premium due date. In case of death of the life assured during this period, death benefit after deducting due premiums before date of occurrence of death, will be paid to the nominee(s)/appointee/legal heir.

What are the tax benefits in 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 IndiaFirst Life Micro Bachat Plan?

Answer

This a limited premium paying, participating plan which not only provides a shorter pay commitment of 5 years but also gives you savings and protection in a single policy. Not just this, our policy will also ensure, continuation of your life cover benefit even in case you miss to pay one premium, thus protecting your family with a life cover even in absence of premium payment. This policy will also take care of your liquidity needs through its Loan facility. Buying this policy as per your convenience is also a possibility as it can be bought online as well. 

What is the Life cover continuance benefit in this plan?

Answer

Your policy will have life cover continuance benefit if the policy has acquired paid up value.

 

Under this benefit; if you miss to pay premium for one policy year after your policy acquires paid up value; the death benefits under the policy will continue as per the in-force policy for one year from the date of “First Unpaid Premium”. During this period no simple reversionary bonus will be paid for the year in which annual premium due for that year has not been paid.



Customer will have an option to further extend the benefit of “Life Cover Continuance Benefit” if he/she pays premium with applicable interest within one year from date of “First Unpaid Premium.” On such payment, Life cover continuance benefit will be applicable, for one year from the revised “Unpaid Premium” date. You will also receive reversionary bonus, if any for the year for which you paid the due premium. If you do not pay premium within 12 months from the date of “First Unpaid Premium” then the death benefit will be reduced as per the reduced paid up policy.

Are there any Riders available in this policy?

Answer

Yes, you have an option to opt for IndiaFirst Life Wa i ve r of Premium (WOP) Ride r (UIN: 143B017V01). This rider when opted, supports you, by waiving off the future premiums of your base policy in case the policyholder/ life assured suffers from death, accidental total permanent disability or critical illnesses as defined under the rider basis the rider option as chosen. The options for policyholder/ life assured are as mentioned below. 
 

OPTIONBENEFIT
Waiver of Premium on Death This option provides benefit of waving all future premiums due and payable under the base policy on Death of the Policyholder (only when life assured and Policy Holder are different individuals under base policy), subject to rider and base policy being in force.
Waiver ofPremium on Accidental Total Permanent Disability or (diagnosis of) Critical IllnessThis option provides the benefit of waving all future premiums due and payable under the base policy on either or simultaneous happening of the following events; Accidental Total Permanent Disability of the rider life assured or on the confirmed diagnosis of the rider life assured suffering from any one of the critical illnesses covered under the rider, subject to rider and base policy being in force.
Waiver ofPremium on Death or Accidental Total Permanent Disability or Critical Illness 

This option provides the benefit of waving all future premiums due and payable underthe base policy on earlier happening of either of the following events - Death of the rider life assured or Accidental Total Permanent Disability of rider life assured or on the confirmed diagnosis of the rider life assured suffering from any one of the Critical Illnesses covered under the rider, subject to rider and base policy being in force.

To opt for this option, life assured and Policy Holder should be different individuals under base policy

 

What is the sum assured on Maturity in this policy?

Answer

The sum assured on maturity in the policy is as chosen by you at the inception of the policy and which is the minimum benefit payable at maturity. At maturity you also receive sum assured on maturity plus accrued Reversionary bonus and Terminal bonus if any. 
 

Minimum Basic Sum AssuredMaximum Basic Sum Assured
Rs. 10,000Rs 2,00,000 as per board approved underwriting policy


You can also opt for Waiver of Premium Rider for an enhanced benefit. Please refer to IndiaFirst Life Waiver of Premium Rider brochure for more details on the said rider. 

What are the bonuses declared under this policy?

Answer

Your policy shall be eligible for Simple Reversionary Bonus and Terminal Bonus, if any, as applicable as per approved Bonus policy. 

  • Simple Reversionary Bonus (SRB): The Simple Reversionary Bonus, if declared by us will be calculated on the Guaranteed Sum Assured at Maturity. The Simple Reversionary Bonus rates are not fixed or guaranteed and may change from time to time. However, once declared, they are then guaranteed. If the Policy is under Paid-Up Mode, no future simple reversionary bonus will be added

  • Terminal Bonus (TB): Terminal Bonus, if any, will be declared based on our investment experience and is at the discretion of the company. Terminal Bonus, if any will be paid either on death or on maturity or on surrender as per terms and conditions of the policy. No Terminal Bonus is payable if the Policy is under Paid-Up Mode.

What are the risk cover options available in this policy?

Answer
Cover Option Risk CoverageBenefit Details
Life OptionDeath 

Guaranteed Sum Assured on Death (10 times of Annual premium) + Accrued bonuses (if any) and terminal bonus, if any will be paid.

Minimum death benefit shall be atleast 105% of Total Premiums paid as on date of death.

Extra Life OptionDeath and Accidental DeathDeath Benefit as mentioned above + An additional death benefit on Accidental Death which is equal to Guaranteed Sum Assured on death will be paid. 

What do you get at the end of the policy term (maturity benefit)?

Answer

You stand to receive the following as Maturity Benefit:

  • Guaranteed Sum Assured at Maturity; plus 
  • Accrued Simple Reversionary Bonuses, if any; plus 
  • Terminal Bonus, if any


On payment of the maturity benefit, the policy will terminate, and no more benefits will be payable. 

Guaranteed Sum Assured on Maturity.is the basic Sum Assured as chosen by the policyholder at inception of the policy

What happens in case of life assured’s demise in this policy (death benefit)?

Answer

In the unfortunate event of life assured’s demise during the term of the policy, Death Benefit is paid out to nominee either as lumpsum or as a monthly income over next 5 years.
 

EventsHow and when benefits are payableSize of such benefits
Death Payable on Death during the policy term given the policy is in force.Guaranteed Sum Assured on death + Accrued Simple Reversionary Bonus (if any) and Terminal Bonus (if any). However, the minimum death benefit shall be atleast 105% of all premiums paid till date of death.
Accidental DeathPayable on Accidental Death during the policy term given the policyis inforce and given Accidental Death Benefit is opted.Guaranteed Sum Assured on Death as additional benefit over and above death benefit.


Guaranteed Sum Assured on Death is 10 times of Annualized Premium

In case of death benefit payout in instalments; the monthly instalment amount will be calculated by multiplying the death benefit by annuity factor, where annuity factor will be arrived on the basis of prevailing SBI savings bank interest rate as on date of death. Once the instalment payment starts, this payment remains level throughout the instalment period. The prevailing SBI savings bank interest rate is subject to review atthe end of every financial year. The prevailing interest rate will be decided on 31st March every year.

Definitions

“Accident” shall mean an event or contiguous series of events, which are violent, unforeseen, involuntary, external and visible in nature, which causes Bodily Injury.

“Bodily Injury” means Injury must be evidenced by external signs such as contusion, bruise and wound except in cases of drowning and internal injury.

“Accidental Death” shall mean death:

  1. which is caused by Bodily Injury resulting from an Accident and
  2. which occurs due to the said Bodily Injury solely, directly and independently of any other causes and
  3. which occurs within 180 days of the occurrence of such Accident irrespective of the expiry of policy term provided date of accident is within the policy term

 

Plans that may interest you!

IndiaFirst Life Guarantee of Life Dreams Plan

Product Image

 

Product Name
IndiaFirst Life Guarantee of Life Dreams Plan
Dropdown Field
Guaranteed Returns
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.
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

Why IndiaFirst life

1.6 Crores

Lives secured since Inception

list

Available in 16,500+

BOB & UBI Branches

list

26,796 Crore

AUM as of Feb'2024

list

1 Day

Claim settlement assurance

list

Knowledge Center

Blogs Podcasts Videos

View All

left-arrow

1800 209 8700

Customer Care Number

whatsapp

8828840199

For online policy purchase

call

+91 22 6274 9898

Chat with us on WhatsApp

mail