Online Premium Payment 183 views June 30, 2021

IndiaFirst Life Insurance Premium Payment

When you choose a life insurance policy, you need to pay a fixed premium amount. If you don’t make the IndiaFirst Life Insurance Premium Payment on time, your family will not get the payout should you die during the policy period. So, we will discuss several premium payment methods on this page. You can also read about the premium receipt and the process to revive the policy in case it lapses due to non-payment of premiums. Let’s start without any further delay.

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IndiaFirst Life Insurance Premium Payment Methods

We’ve mentioned different IndiaFirst Life Insurance Premium Payment methods so that you can understand these better. Let’s start.

Premium Payments Through the Website of IndiaFirst Life

You can make IndiaFirst Life Insurance Premium Payment on the company’s official website. Here, you will see the option of ‘Pay Premium Online’. Once you click on this option, you will need to enter your policy number, date of birth, mobile number or email ID to log in to your account. Once you are logged in, select the policy number, payment mode and pay within minutes using net banking, credit or debit card.

Net Banking

IndiaFirst Life Insurance Company offers the option to pay the renewal premium using the Bank of Baroda (BOB) Net Banking facility. To do this, you will only need to register your insurance policy on BOB Net Banking. In case you are not a BOB user, you can pay from another bank account. For this, you will only need to add IndiaFirst Life as a beneficiary to your bank account. By doing this, you can make regular payments through net banking.

You will need the following details to add IndiaFirst Life as a beneficiary.

Beneficiary Account Number – INDFIS (Followed by Policy Number/ App Number without any space

Beneficiary Name – INDIAFIRST LIFE INSURANCE CO LTD

Beneficiary IFSC Code – HDFC0000240

Beneficiary Bank Name – HDFC Bank

Branch Name – Sandoz Branch, Mumbai

Wallet or Cash Cards

IndiaFirst Life understands that many people like to use wallet or cash cards for their premium payments. Considering this, IndiaFirst allows policyholders to pay the premium amount using prepaid instruments like online wallets or cash cards.

Auto Debit Facility

You can also pay the premium towards your policy via ECS. To do this, you will need to submit the mandate form (download it from the official website) along with a cancelled cheque at one of the nearest IndiaFirst Life branches.

You can also send it to the address mentioned below via courier or post.

CFR Department

IndiaFirst Life Insurance Company Ltd

12th and 13th Floor, North [C] wing, Tower 4,

Nesco IT Park, Nesco Center,

Western Express Highway,

Goregaon (East), Mumbai – 400063

Credit Card Standing Instructions

If you want to use your credit card to pay the premium regularly, you will need to set standing instructions online via MasterCard or Visa on the official website of IndiaFirst. You will need to enter your policy number, date of birth and mobile number/email ID to set standing instructions in a hassle-free manner.

Cash or Cheque

If you don’t want to pay online, you can make the premium payment via cash or cheque at any of the following.

  1. The nearest branch of IndiaFirst Life.
  2. The nearest branch of Bank of Baroda, Union Bank of India or Axis Bank.
  3. Common Service Centre (CSC) (Cash payments up to INR 49,999 are allowed only)

Account Transfer

You can also transfer the renewal premium online using NEFT or RTGS from your bank account to the beneficiary account. The details are as mentioned below.

Beneficiary Account Number – INDFIS (Followed by Policy or Application Number without any space)

Beneficiary Name – INDIAFIRST LIFE INSURANCE CO LTD

Beneficiary IFSC Code – HDFC0000240

Beneficiary Bank Name – HDFC Bank

Branch Name – Sandoz Branch, Mumbai

Note: If you are a Bank of Baroda account holder, you can also visit one of the nearest ATMs to make the renewal premium amount.

IVR (Interactive Voice Response)

Policyholders who have a credit card can use the IVR facility to pay their renewal premium amount. To do this, you will need to call your toll-free number. The representatives will instruct you to make the payment through your credit card. Do remember that a credit card should be issued in the name of the proposer or policyholder to make the payment.

How to Download Premium Receipts?

You can download the premium receipt without logging in to your account. You only need to enter a few details – Policy number, date of birth and registered mobile number/ email ID.

How to Revive Your Lapsed IndiaFirst Life Insurance Policy?

On not paying the premium amount within the grace period (a period of 15 or 30 days allotted to policyholders to pay the premium in case they fail to do so on the due date), your policy will get lapsed. If your policy lapses within the revival period, IndiaFirst Life allows you to revive the same.

For this, you will need to pay the outstanding premium with the interest or reinstatement fees (if applicable). You can pay the same at one of the nearest branches of IndiaFirst Life, Andhra Bank or Bank of Baroda.

However, if your policy has lapsed for more than 180 days from the due date, you will need to submit a declaration of the good health form duly signed and authorized by you via any of the following ways –

  1. Email
  2. Courier to the Head Office addressed to Customer Service
  3. Visit the nearest branch of IndiaFirst Life

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