3 min read
Updated on Jul 13, 2022
About the Company
India First Life Insurance Company was established in 2009 with its headquarters at Mumbai. India First insurance offers various kinds of products to customers including pension plans, insurance solutions like term plans and more. The India First insurance company is a joint venture between two leading public sector banks in the country, namely the Andhra Bank and the Bank of Baroda. Another partner is Legal & General, an investment entity that is based in the United Kingdom (UK). India First offers several investment options along with other types of policies catering to diverse customer requirements. It has close to 4,800 branches throughout 1,000 Indian cities.
|AUM||Rs. 17,109 crore (as of FY21)|
|Total Premiums Collected||Rs. 4,056 crore|
|Number of Products||42+|
The company has attained the following accolades (only a few listed here out of several):
India First Life Insurance comes with the following benefits:
Choosing the right India First policy is essential. You should make sure that you check all available India First Life Insurance policy details carefully before comparing plans and deciding on the final one. Here are some of the plans available:
You can purchase your life insurance policy by submitting some documents which you have to furnish with the form to the nearest branch office or courier the same. They include the following:
You can readily renew your premium by paying swiftly online. You can choose the policy and the mode of payment before completing it. You can securely make your payment online via the India First Life portal, net banking and wallet/cash cards.
This is the claim procedure to be followed:
|Financial Year||Claim Settlement Ratio|
India First Life Insurance offers various benefits including being majorly owned by two of India’s biggest and most reputed public sector banks and also its transparent and hassle-free processes for filing claims.
The benefits include a high ratio of claim settlement, tax deductions as applicable, customer-friendly claim processes, easy renewals and high coverage amounts.
No IRDAI regulations currently allow portability of health insurance plans.
You have to make a list of all the documents and compile them after immediately intimating the insurer at the branch or via the customer care centre or even your sales advisor. Thereafter, you can submit the documents and claim form at the branch or send them to the company head office.
There are life insurance plans on offer including term plans and also pension plans.
You can easily pay online for renewing the policy via methods like net banking, wallets or cash cards.
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