India First Life Insurance Premium Calculator Plan – India is one of the fastest-growing economies in the world, and this growth is sure to have an impact on the life insurance industry in the country. Premiums for life insurance policies are likely to go up as a result, so it’s important to be aware of what options are available to you and what compromises you may need to make. In this article, we’ll provide you with a IndiaFirst Life Insurance Premium Calculator Plan, which will allow you to calculate the premium that’s right for you. Thanks for reading!
India First Life Insurance offers term insurance plans with high protection for low premiums and a wide range of plans designed to fully protect policyholders. When we suddenly need to be hospitalized, it may even bring us to the point where, if we are not secured, it may cause us mental stress. It is ideal to select one of the insurance plans that meets our fundamental needs and requirements in order to emerge from or avoid this agony. This is the best way to protect our loved ones’ lives and interests.
IndiaFirst Life Insurance Premium Calculator Plan
Are you looking for a life insurance plan that fits your budget? IndiaFirst Life Insurance has got you covered! Our premium calculator plan provides a detailed estimate of what you would pay for a life insurance policy that meets your specific needs. Simply enter your information and our calculator will take care of the rest. In just a few minutes, you’ll know exactly how much life insurance you need and how much it will cost you! Ready to get started? Let’s get started!
It offers a lot of coverage for a small price. It is an easy purchase that can be made from the company’s website, aiming for a low price.Under this plan, there are two ways to pay off the premium: Regular Pay and Single Pay. Under the first plan option, regular payments can be made for the duration of the policy. Or else, under Single Pay, a one-time payment is made when the policy starts. In addition, the nominee receives the entire assured sum in the event of the insured’s death during the policy’s term.
IndiaFirst Life Insurance Premium Calculator Plan India 2022 Details
| Name Of Article | IndiaFirst Life Insurance Premium Calculator Plan in India 2022 |
| IndiaFirst Life Insurance Premium Calculator Plan | Click Here |
| Category | Insurance |
| Official Website | Click Also |
What is the IndiaFirst Life Insurance Company?
The Mumbai-based IndiaFirst Life insurance company was founded in November 2009. IndiaFirst Life Insurance Company Limited is one of the newest and fastest-growing life insurance companies in India. The three public sector banks Bank of Baroda, Union Bank of India (Andhra Bank), and Legal General, the UK’s financial and investment company, formed the Life IndiaFirst Insurance Company. Log into our portal to find the best IndiaFirst life insurance, or call our customer service number at 1400-123-4003.
Features of IndiaFirst Life Term Insurance
- The objective of a non-participating pure term insurance policy is to provide financial protection in the event of unanticipated events.
- The death benefit, which is paid to the nominee upon the policyholder’s death, ensures that the family will have financial security regardless of the odds.
- Coverage spans from 5 to 40 years.a maximum of Rs. 1 lakh50 crore Lower premium eligibility for non-smokers compared to smokers Convenience of online purchase Surrender value applicable for policies offering a single premium payment tenure
- Flexible premium payment frequencies – monthly, quarterly, half-yearly, and yearly, which policyholders can select from, according to their preference Monthly premiums can be paid through ECS or Direct Debit
- Tax benefits applicable on premiums of up to Rs.According to Section 80C of the Income Tax Act of 1961, 1.5 lakh annually
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Benefits of IndiaFirst Life Term Insurance
- Cost: Plans for IndiaFirst Term Insurance are quite affordable. They are one of the most popular term insurance companies because they offer affordable rates for every product in the category.
- Term: You get a lot of security from this policy, which covers you for 30 years. Flexibility:enables you to make the premium payments in a variety of ways and also provides a grace period in the event that you forget to do so.
- Plans online: The term plans presented by this organization are effectively accessible. Therefore, there is no need for intermediaries. You can purchase the strategies online whenever it might suit you with the snap of the mouse.
- Variety: Customer Service: This company provides a variety of offline and online plans. This business has a great team of customer service representatives who provide efficient pre- and post-sale services.
- Tax advantages: Benefits from the Income Tax Act’s Sections 80C and 10(10D) apply to regular premium payments.
Types of IndiaFirst Life Term Insurance Plans
1. IndiaFirst Any time Plan
The only way to purchase this plan is through the website. The following are some of this plan’s features:
- The plan has a minimum entry age of 18 years, a maximum entry age of 60 years, and a maturity age of 70 years.
- The minimum sum assured is 10 lakhs, and the maximum sum assured is 50 crores.
- This plan has a higher sum assured at a lower premium. The minimum policy term is 5 years, and the maximum policy term is 40 years.
- It offers differential premium rates for choosing a healthy lifestyle.
- It also offers the flexibility to make the premium payments on a monthly, quarterly, or yearly basisWith the single pay option, you can start the policy with a one-time payment.
- Because this is an online term insurance plan, you can save a lot of money on premiums if you choose the regular pay option.
- You can pay the premium for the entire duration of the plan.
- Also provides the convenience of purchasing the plan with a single mouse click; in the event of the insured’s death, the company pays the nominee the assured sum; regular pay policies do not provide a surrender value.
- If you have consistently paid premiums for three policy years, the single pay option offers 40% of the premium paid as surrender value.
- Benefits from the Income Tax Act’s Sections 80C and 10(10D) apply to regular premium payments.
Eligibility Criteria
| PARAMETERS | MINIMUM | MAXIMUM |
|---|---|---|
| Sum Assured | Rs. 10 lakh | Rs. 50 lakh |
| Premium | Rs. 2,400 | No Upper Limit |
| Entry Age | 18 years | 60 years |
| Maturity Age | – | 70 years |
| Policy Tenure | 5 years | 30 years |
| Premium Payment Frequency | Regular payment – Annual, Half-yearly or Monthly, and Single Premium Payment | |
2.IndiaFirst Life Plan
The following are some of this plan’s features:
- This plan has a minimum entry age of 18 years, a maximum entry age of 60 years, and a maturity age of 70 years.
- It has a minimum assured amount of one lakh and a maximum assured amount of fifty crore.
- It has extensive coverage options at a lower cost.
- The minimum policy term is five years, and the maximum policy term is forty years.
- It gives you the option to pay the premiums annually, semiannually, or monthly.
- With the single pay option, you can start the policy with a one-time payment.
- You can pay the premium over the course of the plan with the regular pay option.
- Regular pay policies do not have a surrender value. If you have consistently paid premiums for three policy years, the single pay option offers 40% of the premium paid as surrender value.
- The company pays the nominee the sum assured to the nominee in case of the insured’s death Section 80C and 10(10D) of the Income Tax Act, which provides tax benefits for premiums paid regularly, offers Inter Consultation Services for reviewing the medicals of their customers by medical experts.
- The company also offers differential premium pricing for smokers and non-smokers in the event that they choose to opt for a sum assured of 50 lakhs or more.
Eligibility Criteria
| PARAMETERS | MINIMUM | MAXIMUM |
|---|---|---|
| Sum Assured | Rs. 5 lakh | Rs. 20 lakh |
| Premium | Minimum monthly premium Rs. 500, Rs. 1,000 for half-yearly and Rs. 2,000 for yearly Minimum amount for single payment premium is Rs. 5,000 | |
| Entry Age | 18 years | 60 years |
| Maturity Age | – | 70 years |
| Policy Tenure | 5 years | 30 years |
| Premium Payment Frequency | Regular payment – Annual, Half-yearly or Monthly, and Single Premium Payment | |
3. IndiaFirst Simple Life Plan
The following are some of this plan’s features:
- This plan offers higher sum assured at lower premiums, differential premium rates for choosing a healthy lifestyle, life cover for 5 or 10 years, flexibility in choosing the sum assured, and the company pays the nominee the sum assured in the event of the insured’s death.
- You can also surrender your policy if you have paid the premiums on time for three policy years.
- The minimum entry age is 18 years, the maximum age is 60 years, and the maturity age is 60 years.
- The minimum sum assured is Rs.5,000
- The Income Tax Act’s Sections 80C and 10(10D) provide tax benefits for regularly paid premiums, and the surrender value is forty percent of the premiums.
Eligibility Criteria
| PARAMETERS | MINIMUM | MAXIMUM |
|---|---|---|
| Sum Assured | Rs. 5,000 | Rs. 50,000 |
| Entry Age | 18 years | 60 years |
| Maturity Age | – | 60 years |
| Policy Tenure | 5 years | 10 years |
| Premium Payment Frequency | Regular payment – Annual, Half-yearly or Monthly, and Single Premium Payment | |
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How does IndiaFirst Life Term Insurance work?
In the event of the policyholder’s sudden death, nominees can receive Death Benefit from IndiaFirst Life Term insurance. This advantage can be paid by the safety net provider in two ways, as selected by the policyholder at the hour of buying the strategy – singular amount payable after the policyholder’s passing or as portions paid all through the leftover approach residency.
Claim Process of IndiaFirst Life Term Insurance
The claim can be filed in a simple and hassle-free process. Mentioned are the steps for claim process:
1. Claim Registration
The candidate of the protected requirements to suggest the case to the insurance agency by filling a case structure totally. The claim form needs to be attached with the necessary documents. The nominee is responsible for ensuring that the appropriate claim type is filled out on the form and delivered to the IndiaFirst Term Insurance office with the other documents. The claim can be registered online. You can send an email to [email protected] or send hard copies via courier to the head office by contacting 1800-209-8700.In order to continue processing the term claim, the insurance company registers the claim and sends the claimant an acknowledgement along with a set of additional claims documents.
2. Documents submission
To make a claim for term insurance, the nominee can go to the IndiaFirst Term Insurance headquarters or any of the company’s branches.
- In the event of an unnatural death, such as a suicide, murder, or accident, the following documents would be required:
- an indication form, a copy of the death certificate or an attested copy of the death certificate,
- the nominee’s KYC, bank information, and a cancelled check. Copies of the life insured’s identity and age proof.
- Original Policy bond and copies of hospitalization documents like the discharge letter
3. Claim scrutiny and decision
The additional requirement is communicated to the claimant by the insurance company. The claimants are assisted by a dedicated claims team. This team also knows whether the claims are genuine, looks over the claims, and decides whether to pay them.
4. Fund value payment
The plan pays the policy’s nominee the fund value after reviewing the claim. This procedure only takes place during a death claim.
5. Settlement payout
Once received, the insurance company would check the documents. After receiving any additional documentation, the verification process would be concluded. Additionally, any riders or clauses would be examined. The funds would be distributed in the nominee’s favor if all of the documents meet the requirements. The nominee receives the payment through NEFT (National Electronic Fund Transfer).In order to cut down on potential scams and discrepancies in finances, the insurance company guarantees complete transparency.
Also Read-HDFC Group Term Insurance Plan
Review of IndiaFirst Life Term Insurance
IndiaFirst Term insurance provides extensive term coverage that provides peace of mind by planning for a financially secure life for your loved ones and takes care of overhead costs associated with liabilities. With this company’s wide range of plans, your insurance premiums would only go up very slightly. It is one of the insurance companies growing the fastest. Since 2010, they have approximately 5 million dependable policyholders. The well-known IndiaFirst Term Insurance claims to be user-friendly and unwavering in its support for customers. This business unquestionably has the potential to be ranked as one of the best insurance companies in India because it offers a variety of coverage plans that are suitable for every customer. With a touch of customer delight, this company’s sales force is highly committed.
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