India First Life Insurance: In today’s unpredictable world, securing your family’s future is not just smart—it’s essential. Life insurance isn’t about expecting the worst; it’s about preparing for life’s uncertainties with confidence. And among India’s leading providers making insurance approachable and affordable is India First Life Insurance.
But what makes this insurer stand out in a crowded market? Let’s take a deep dive—from real-life scenarios and plan features to expert insights and smart comparisons—so you can make an informed decision for yourself and your loved ones.
What is India First Life Insurance?
India First Life Insurance Company Ltd. is one of India’s youngest and fastest-growing life insurance companies. Established in 2009, it’s backed by two credible names—Bank of Baroda (India’s third-largest public sector bank) and Union Bank of India, both holding a combined 92.5% stake. The remaining 7.5% is held by Carmel Point Investments India Pvt Ltd.
This strategic ownership brings financial strength, distribution power, and deep trust—three pillars that matter most when choosing a life insurance partner.
What Makes India First Life Insurance Unique?
1. Customer-First Approach
As the name suggests, IndiaFirst puts people before policies. They’ve designed their plans to fit modern Indian families—whether you’re a salaried professional, small business owner, or homemaker.
💬 Real-life story: Kavita Sharma, a 34-year-old working mother from Pune, opted for the IndiaFirst Life e-Term Plan online. She said, “The application was smooth, the premium was surprisingly affordable, and I got exactly what I needed—peace of mind.”
2. Digital Simplicity
The company has been at the forefront of digital innovation, offering paperless onboarding, e-policy delivery, and seamless claims processing. With tools like WhatsApp servicing, AI chatbots, and online premium calculators, managing your policy has never been easier.
3. Diverse Product Range
From term plans and child education plans to retirement and savings solutions, IndiaFirst offers a 360° insurance portfolio.
Types of India First Life Insurance Plans
Let’s break down their offerings with real use cases so you can choose the right one based on your life stage and goals.
1. IndiaFirst Life e-Term Plan
Best for: Breadwinners seeking a pure protection plan
- High sum assured at low premiums
- Multiple payout options (lump sum, monthly income, or both)
- Option to cover spouse under the same plan
- Terminal illness and accidental death riders available
Ideal for young professionals or new parents who want high protection at affordable rates.
2. India First Life Little Champ Plan
Best for: Parents planning their child’s future
- Combines insurance protection with investment benefits
- Maturity benefit coincides with child’s higher education phase
- Waiver of premium in case of parent’s untimely demise
🎓 Amit and Sneha from Delhi invested in this to fund their son’s engineering dream. Their quote: “It feels like we’ve gifted our son security, even if we’re not around.”
3. India First Life Guaranteed Benefit Plan
Best for: Those looking for guaranteed returns with life cover
- Fixed monthly or lump sum payouts
- Premium payment flexibility (single or limited pay)
- Tax benefits under Section 80C and 10(10D)
Perfect for someone nearing retirement who needs stable returns without taking market risks.
4. India First Life Guaranteed Retirement Plan
Best for: Building a retirement corpus
- Regular income post-retirement
- Optional deferred annuity and immediate annuity
- Offers return of purchase price on death or survival
Think of this as your personal pension plan that begins working when you stop.
Key Benefits of Choosing India First Life
✅ Trusted Promoters
Backed by PSU giants (Bank of Baroda & Union Bank of India)
✅ High Claim Settlement Ratio
As per IRDAI Annual Report, the claim settlement ratio stands above 96%—a crucial factor when selecting an insurer.
✅ Affordable Premiums
Compared to peers, IndiaFirst offers high cover at lower premiums, especially for term plans.
✅ Tax Advantages
Get deductions under Section 80C (up to ₹1.5 lakh) and maturity benefits under Section 10(10D) of the Income Tax Act.
Expert Tips: How to Select the Right India First Plan
- Assess your goal: Term insurance for protection, ULIP for wealth creation, guaranteed plans for stability.
- Decide on tenure: Ideally, till your retirement age or till key responsibilities (like kids’ education) are fulfilled.
- Add riders smartly: Critical illness and accidental death riders can give enhanced protection at a small cost.
- Review yearly: Your needs evolve—so should your cover.
Real-World Comparison: India First vs Other Insurers
| Feature | IndiaFirst Life | LIC | HDFC Life | ICICI Prudential |
|---|---|---|---|---|
| Ownership | PSU-backed | Government-owned | Private | Private |
| Claim Settlement (2023) | ~96.9% | ~98.5% | ~99.4% | ~97.9% |
| Online Process | Excellent | Limited | Excellent | Excellent |
| Affordability | High | Moderate | Moderate | High |
| Product Innovation | High | Moderate | High | High |
🎯 If you value a trusted PSU partnership with modern digital features and affordability, IndiaFirst hits the sweet spot.
Commonly Asked Questions (FAQs)
Is India First Life Insurance safe?
Absolutely. It is regulated by IRDAI, backed by PSU banks, and has a high claim settlement ratio.
Can I buy India First insurance online?
Yes! You can easily buy, manage, and renew policies online. Even claims can be initiated digitally.
What happens if I miss a premium?
There’s usually a 30-day grace period. If missed beyond that, policies may lapse but can often be revived.
Are there any hidden charges?
Most plans are transparent. For investment-linked plans, charges like fund management or allocation fees are clearly disclosed.
Testimonials from Real Policyholders
“I lost my husband during COVID. IndiaFirst processed the claim within 12 days without harassing me for documents. That’s when I realized the real value of choosing the right insurer.”
— Neha R., Mumbai
“Their WhatsApp support solved all my doubts—even late at night. I’ve now taken policies for my entire family.”
— Kiran M., Bengaluru
Final Thoughts: Is India First Life Insurance Right for You?
If you’re someone who wants a balance of trust, technology, and tailored plans, IndiaFirst Life Insurance is worth considering. Whether you’re securing your family’s future, investing for retirement, or planning your child’s education, there’s a plan designed for you.
What truly sets IndiaFirst apart is its human-first mindset—insurance not as a product, but as a promise to protect dreams.
