IndiaFirst Life Insurance Company Limited
IndiaFirst Life Insurance Company is among India’s youngest life insurance companies, with a paid-up share capital of Rs 663 crore. Headquartered in Mumbai, the company works passionately to serve customers while preparing them to face uncertain times. What makes it stand out among the competitors is its fairly-priced, easy-to-understand, and straightforward products and efficient service.
Established in November 2009, the founding partners of IndiaFirst Life Insurance Company include Bank of Baroda, Andhra Bank (now, Union Bank of India), and Legal & General. However, in February 2019, Legal & General sold its stake to Carmel Point Investments India Private Limited. As of today, the company’s shareholding pattern stands at Bank of Baroda – 44%, Union Bank of India – 30%, and Carmel Point Investments India Private Limited – 26%.
The company has spread its wings in more than 1000 cities in India with 4800 branches and has over 1600 employees. It offers a wide range of need-based products catering to different needs of customers in different segments. The products offered include savings and investment plans, protection plans, retirement plans, and health plans.
Facts about IndiFirst Life Insurance Company
- Till 31st March 2020, IndiaFirst Life Insurance offers 31 need-based products for various customer segments.
- IndiaFirst Life Insurance had been recognized as one of the top 25 Great Place to work in the BFSI segment.
- It is the youngest life insurance company in India which has insured over 5 million lives since 2010.
Why opt for IndiaFirst Life Insurance Company
- Cost-effective plans: IndiaFirst Life insurance offers a variety of reasonably-priced plans.
- Claim settlement ratio: IndiaFirst Life Insurance Company has a claim settlement ratio of 96.65%, making it a reliable insurer partner in the market.
- Flexibility: IndiaFirst Life Insurance offers flexible options to make premium payments along with a grace period to pay the premiums in case one lapses the due date.
- Tax benefits: The premium paid towards IndiaFirst Life Insurance are eligible for tax benefits under Section 80C and 10(10D) of the Income Tax Act.
Types of Insurance products offered by IndiaFirst Life Insurance Company
- Term Plans: Term Insurance Plans by IndiaFirst Life Insurance offer flexible options to select plans and different premium paying options such that the customer can choose as per their requirements.
- Investment Plans: IndiaFirst Life Insurance investment plans provide the solution for a customer’s insurance and investment needs.
- Savings Plans: The savings plans by IndiaFirst Life Insurance offer multiple ways to invest, save and grow money at zero risks. These plans also provide periodic payments while securing the financial future of the insured with assured income.
- Retirement Plans: IndiaFirst Life Insurance retirement plans come with various attractive features to comfortable later years of life. Such as assured returns on the total premium paid in the initial years, regular income option, additional cover, to name a few.
Term Plans offered by IndiaFirst Life Insurance
- Online Term Plan: IndiaFirst Life’s Online Term Plan can be directly purchased online. It is aimed at ensuring financial security to people at an affordable price during an unforeseen event.
- IndiaFirst Life Plan: This term plan is a pure protection plan, offering comprehensive financial security to the insured’s family cost-effectively.
To know more about IndiaFirst Life Insurance products, visit iiflinsurance.com now and pick the right one for your family.