IndiaFirst Life Term Insurance Calculator

IndiaFirst Life Term Insurance Calculator

IndiaFirst Life Insurance is a joint venture between Union Bank of India, Bank of Baroda, and Carmel Point India Investments India Private Limited. Headquartered in Mumbai, IndiaFirst Life Insurance Company Limited (IndiaFirst Life) is the 22nd entrant into the private life insurance sector and is counted among the youngest insurance providers in the country.

IndiaFirst Life offers an array of insurance plans, including term plans and another form of life insurance. Its term insurance plans provide comprehensive financial security to the policyholder’s family in his or her absence.

IndiaFirst term Insurance premium calculator helps the policyholder to calculate the premium payable amount accurately. The process is very simple and further assists you in making an informed insurance buying decision.

Benefits of IndiaFirst Life Insurance Term Plan Premium Calculator

  • Accurate calculation of the premium amount: IndiaFirst term insurance calculator gives accurate premium amount based on the insurance policy terms and the details you enter.
  • Free Of Cost: IndiaFirst Life Insurance calculator offers a free quote for all its customers.
  • Informed Decision: As you get to know the actual premium payable using the IndiaFirst Life Insurance calculator, you can decide on the term insurance plan you wish to buy.

IndiaFirst Life Insurance Term Plans

  • IndiaFirst Life Guaranteed Protection Plan 
  • IndiaFirst Life Plan

IndiaFirst Life Guaranteed Protection Plan

This term plan by IndiaFirst Life Insurance offers comprehensive protection at an affordable cost. It covers uncertainties like policyholder’s death, critical illness, and accidental total permanent disability. This plan also provides coverage for 40 critical illnesses along with a return of premium option as a maturity benefit.

IndiaFirst Life Plan

This is a unique term insurance plan by IndiaFirst Life Insurance that provides coverage up to a maximum of Rs 5 crores. It also offers a life cover for up to 40 years. Although this term plan does not provide any maturity benefit, it provides complete assurance of the insured family’s financial security in case of its untimely demise.

Benefits of IndiaFirst Life Insurance Term Plans

IndiaFirst Life Insurance boasts of a strong reputation in the market, offering a wide range of products that helps policyholders to secure their loved ones in a cost-effective manner.

  • High Coverage at Low Premiums: IndiaFirst Life Insurance offers high insurance coverage at considerably lower premiums based on the policy term and age. The term plan secures the family’s financial future in case of the insured’s untimely demise.
  • Multiple Premium Payment Options: Policyholders get the flexibility to choose from various premium payment options like single payment, monthly and annual installments, etc., as per their convenience.
  • Availability of attractive rider benefits: IndiaFirst Life Insurance offers 3 different types of additional riders like critical illness rider, ATPD, and accidental death cover.
  • Return of Premium: Along with a complete death benefit option, the IndiaFirst Life Insurance term plan also offers maturity benefit in the form of refunding all premiums paid in case the policyholder survives the policy term.

 

FAQs:

What are the benefits of choosing IndiaFirst Life Term Insurance?

IndiaFirst Life Insurance term plans are affordable and provide complete coverage. In addition, the premiums are pocket-friendly, which does not put a burden on the insured’s pocket. Along with comprehensive coverage, it also offers rider benefits, tax benefits, and several other great features.

Can an NRI buy an IndiaFirst Life term plan online?

Yes, an NRI can buy an IndiaFirst Life term plan online; however, medical tests will be organized in India, if applicable.

Is it possible to change the premium amount during the policy tenure?

No! Unfortunately, it is not possible to change the premium amount during the policy tenure.

What is the claim settlement ratio of IndiaFirst Life Insurance?

IndiaFirst Life Insurance has a healthy claim settlement ratio of 96.65% FY 19-20.

What is the procedure IndiaFirst Life Insurance follows to pay the claim amount to the nominee?

IndiaFirst Life Insurance credits the claim amount to the bank account of the beneficiary or the nominee.

What is the maximum policy term offered by IndiaFirst Life Insurance?

IndiaFirst Life Insurance offers a maximum policy term of 40 years under their IndiaFirst Life Plan.

What does the accidental death coverage rider in IndiaFirst Life Insurance term insurance offer?

The accidental death coverage rider in IndiaFirst Life Insurance term insurance provides an additional payout in case of unnatural death by accident during the policy term.

Is GST applicable on the Insurance Policy premiums?

Yes, GST is applicable on the premiums of insurance policies except insurance plans such as the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) wherein the indirect tax exemption is expected to be continued.

What is IndiaFirst Life Insurance’s claim process?

IndiaFirst Life Insurance follows a 3-Step Claim Process:
Step 1- Claim Registration
Register and submit the required set of documents.
Step 2-Claim Assessment
After receiving the documents, Claim assessors then review the documents and guide the claimant through the process.
Step 3-Claim Settlement
If the claim is verified and no investigation is required and all the mandatory documents are correctly

What are the different charges deducted when a policy is cancelled during the freelook period?

For Unit Linked policies:
Stamp Duty charges
NAV fluctuation charges
Pro-rated mortality charges
Expenses incurred on medical examination, if any
For Endowment & Term policies:
Stamp Duty charges
Pro-rated mortality charges
Expenses incurred on medical examination, if any
For Health/Mediclaim Policies:
Stamp Duty charges
Pro-rated mortality charges
Expenses incurred on medical examination, if any

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