Home > Life Insurance > Pension Plan > India First Life Insurance
india-first-logo

India First Life Insurance

  • We help in maximising your retirement corpus
  • Simple and uncomplicated comparisons of all plans
  • Clear features, benefits, and costs for each plan
  • Tax free corpus, maximum returns & right vesting age

IndiaFirst Life Insurance

Overview
One of the youngest and fastest growing insurance companies in India, IndiaFirst Life Insurance Co. Limited has come a long way since being launched by President Pranab Mukherjee back in the year 2010. The company is a joint venture between the Andhra Bank and Bank of Baroda in tandem with the Legal & General Group from the UK which specializes in risk, wealth and investment verticals.

The company offers wealth, savings, retirement, health and protection plans to its customers. It accesses more than 8, 000 branches in India with a presence across 1000 cities. There is a huge network of 50 million customers that can be tapped by the company as well.

IndiaFirst Life Insurance at a glance
  • One of the fastest growing insurance providers in the country
  • Presence across 1000 cities.
  • Network of more than 50 million customers and 8, 000 branches in India.
  • Claim-settlement ratio for the year 2015-2016 was 71.87%
  • Grievances settlement ratio in 2015-16 was 98.82%
  • Awarded the ISO 9001:2008 certification in the first year of

IndiaFirst Life Insurance Co. Limited Retirement Plans
There are several IndiaFirst Life Insurance Co. Limited retirement plans on offer that offer good returns on total premiums along with helping you build a corpus for future security. There is payment flexibility along with regular income options as well. You can select the desired age of retirement and there are added annuity options available as well.

Documentation needed to apply for IndiaFirst Life Insurance
  • Age proof - (Any One)
    Driving License, Passport, Voter ID Card, Birth Certificate, etc
  • Identity proof – (Any One)
    Driving License, Passport, Voter ID card, PAN Card, Aadhar Card, or any document which proves citizenship
  • Income proof
  • Address proof – (Any One)
    Driving License, Passport and Utility Bill should clearly mention the permanent address
  • Income proof – (Any One)
    Salary Slip, Form 16, ITR
  • Recent passport size photograph

IndiaFirst Pension Plans
  • IndiaFirst Guaranteed Retirement Plan: A non-linked, participating, endowment deferred pension plan providing guaranteed financial protection for your retirement years.
  • IndiaFirst Immediate Annuity Plan: Providing guaranteed financial protection for your retirement years with annual premium as low as Rs.2000

1: IndiaFirst Guaranteed Retirement Plan: It is a non-linked, participating, endowment deferred pension plan providing guaranteed financial protection for your retirement years.

Features Description
Age at Entry (Last birthday) Regular Premium
Minimum: 25 years
Maximum: 55 years
Limited Premium
Minimum: 0 years
Maximum: 70 years
Single Premium
Maximum: 75 years
Policy Term Minimum: 5 years
Maximum: 40 years
(Depending on the premium payment term and the premium payment frequency)
Age at Policy Expiry Minimum: 40 years
Maximum: 80 years
Sum Assured Regular/Limited Premium
Minimum: Rs 5,00,000
Maximum: No limit, subject to underwriting
Single Premium
Minimum: Rs. 1,00,000
Maximum: No limit, subject to underwriting
Minimum Premium Regular Premium
Annual: Rs 24,000
Half-yearly: Rs 12,286
Quarterly: Rs 6,216
Monthly: Rs 2,088
Limited Premium
Annual: Rs 36,000
Half-yearly: Rs 18,428
Quarterly: Rs 9,324
Monthly: Rs 3,132
Single Pay: Rs 75,000 ( Subject to conditions)
Premium Payment Term Single Pay, Limited Premium (5/10 years), Regular Premium (15 to 35 years)
Premium Payment Frequency Annual, Half-yearly, Quarterly, Monthly

Advantages and Benefits
  • Multiple options to invest according to your own requirements
  • Guaranteed return of 9% on your total premiums paid during first 2/4/6 plan years as per premium payment term.
  • Option to choose single, limited or regular premiums

2: IndiaFirst Immediate Annuity Plan: Providing guaranteed financial protection for your retirement years with annual premium as low as Rs.2000

Features Description
Age at Entry (Last birthday) Minimum: 18 years
Maximum: 60 years
Policy Term Minimum: 5 years
Maximum: 40 years
Maximum Age at Policy Expiry 70 years
Sum Assured Minimum: Rs 10,00,000
Maximum: Rs 5,00,00,000
Minimum Premium Annual: Rs 2000
Half-yearly: Rs 1024
Monthly: Rs 174
Single Pay: Rs 10,000
Premium Payment Term Regular Pay, Single Pay
Premium Payment Frequency Regular Pay: Annual, Half-yearly, Monthly Single Premium: One-time payment