Term Insurance 1338 views November 27, 2019

IndiaFirst Life Term Insurance

With a passion for serving customers, IndiaFirst believes the certainties far outweigh the uncertain and we all should be prepared for those moments. At IndiaFirst, the goal is to make insurance available to every Indian household. It is powered by Bank of Baroda and Andhra Bank. In 2019, IndiaFirst was awarded as “ACEF GRAND PRIX AWARD” for a best social media campaign. It provides various plans like term plans, investment plans, child plans, retirement plans, saving plans, etc. IndiaFirst life insurance company has insured 5.5+ million lives and is totally reliable with an 89.83% claim settlement ratio in the financial year 2017-2018.

Term Insurance

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Life Insurance is a vital aspect of financial planning and one has to choose it carefully. Hence, IndiaFirst offers many easy to comprehend insurance plans to fulfil the needs at different stages of one’s life.

Term Insurance is the most affordable form of Insurance, which provides the maximum sum assured at the lowest possible premium. It is the cheapest in the market with such a low amount of premium. A person can avail higher protection coverage.

Why Should You Choose IndiaFirst Life Term Insurance?

The following are the benefits of IndiaFirst Life Insurance Term:

  1. Enjoy life cover of 4 to 50 years.
  2. Assured lump sum benefit to the loved ones in case of any unfortunate event.
  3. You can pay monthly, half-yearly, or in a single premium.
  4. You can avail tax benefits under section 80C and 10(10D) of the Income Tax Act.

Types of IndiaFirst Life Term Insurance Plans

IndiaFirst has two attractive term insurance plans that can help your dependents financially in your absence. Check out their descriptions below.

IndiaFirst Anytime Plan

It is a pure term insurance plan that ensures your loved ones are taken care of, even in your absence. The key features of the plan are listed below.

  1. Enjoy a life cover for a period of up to 30 years at a reasonable price.
  2. It provides monthly income in instalments to counter the burden of living expenses for your family.
  3. It covers major critical illness as well as accidental death and disability.
  4. It pays the sum assured to the nominee in case of death of an insured person during the tenure of the plan, thereby ensuring that your family is secured even in your absence, with a policy term of up to 40 years.
  5. It also provides Tax benefits as premium paid for the insurance and claim received is exempted under Section 80C  and Section 10(10D) of Income Tax Act respectively. The exemption could be either full or upto a specified portion, so read the tax laws carefully.
  6. The premium may be paid in one lump sum at the time of inception or during the entire duration of the plan.

Interested to buy IndiaFirst Anytime plan? Check your Eligibility!

  1. The minimum age for applying is 18 years and the maximum age for applying is 60 years.
  2. The maximum age at the end of the plan is 70 years.
  3. Minimum Sum Assured: Rs10,00,000 and Maximum Sum Assured: 49,00,000.

IndiaFirst Life Plan

IndiaFirst Life Plan assures your family of a lump sum benefit in case of your untimely death. Benefits of term life insurance are listed below.

  1. Enjoy a life cover for a period of up to 40 years
  2. Assured benefit in case of the life assured’s death
  3. Under section 80C, you can enjoy tax benefit on the premium you invest
  4. No Tax on the claim received by your family as it is exempt under section 10(10D).

Check your eligibility first:

  1. The minimum age for applying is 18 years and the maximum age for applying is 60 years.
  2. The maximum age at the end of the plan is 70 years.
  3. Minimum Sum Assured: Rs1,00,000 and Maximum Sum Assured: 5,00,00,000.

Conclusion

Insurance policy can protect you and your family against unforeseen disasters. There are various types of term insurance plans. Before you make any decision, you must know the best term insurance plans in India by comparing them. You must also check the Online Term Insurance Policy Plan with their Claim Settlement Ratio.

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