Indiafirst Life Micronsurance Plans

• Reduce taxable income by up to Rs. 1,50,000 deduction under section 80C**
• Convenient payment options - annual, half-yearly, quarterly or monthly premium payments
• Do more with plans that offer pure protection, retirement planning and investment options

One of the youngest insurance companies in the country, IndiaFirst Life was started in the year 2010 and has since gone on to become one of the most sought after insurance companies in the country.

Microinsurance plans are perfect for the unbanked rural population as well as other families that have low income. These plans ensure that individuals get the benefit of an insurance plan at a low cost, thus reducing the burden on these families. IndiaFirst Life Insurance Company provides two different microinsurance plans that provide lump-sum payouts at the end of the tenure of the plan as well as financial inclusion. Customers who procure these plans can enjoy greater security and fulfill their dreams faster. Additionally, tax benefits can also be enjoyed on the premium. The two plans that are available are -

• IndiaFirst CSC Shubhlabh Plan
• IndiaFirst Life ‘Insurance Khata’ Plan

Benefits of IndiaFirst Life MicroInsurance Plans

IndiaFirst Life MicroInsurance Plans come with a number of advantages as given below:

• Life MicroInsurance products are ideal for individuals who are from low income households but wish to enjoy the benefits of a life insurance plan that it provides without having to pay a huge sum for the same.
• MicroInsurance plans provide financial support as well as protection in case of unfortunate events at a reasonable premium rate.
• All MicroInsurance plans are affordable and easy to procure.
• Individuals can procuring Income Tax Benefits based on existing tax laws.
• IndiaFirst Life Insurance Company provides the benefit of hassle-free customer service and the services of an advisor.

List of IndiaFirst Life MicroInsurance Plans

IndiaFirst CSC Shubhlabh Plan

Policyholders can avail the benefit of small savings with this plan which requires a low premium amount but provides a number of advantageous benefits. Through this plan, individuals can avail an investment that increases every year.

Benefits and Features of IndiaFirst CSC Shubhlabh Plan

• Customers will only have to provide their Aadhaar number along with their name to avail hassle-free documentation and enrollment process.
• For the first five years of the policy, customers can enjoy a guaranteed additional interest of 4% per annum and 0.5% per annum for the years after that.
• Policyholders can pay their premiums in the following modes - annually/semi-annually/quarterly and monthly.
• A minimum 1.0% floor rate is guaranteed per year on the value of the account during the plan tenure.
• Customers can procure quick access to their funds via partial withdrawals after a period of five years.
• A top-up facility is available wherein policyholders can make additional payments.
• Tax benefits are also available on this plan.

IndiaFirst Life ‘Insurance Khata’ Plan

This term assurance, micro insurance plan provides return of premium plan. Death benefit is also provided to the nominee in case of the policyholder’s untimely demise as well as maturity benefit if the policyholder survives until maturity.

Benefits and Features of IndiaFirst Life ‘Insurance Khata’ Plan

• This micro insurance plan provides financial protection to the family of the policyholder.
• In case of the policyholder’s untimely demise, the nominee will receive a substantial death benefit.
• If the policyholder survives until policy maturity, he/she will receive a maturity benefit.
• Customers can pay a single premium and avail coverage for a period varying between 5 and 10 years.
• Hassle-free procurement and simple documentation is also ad added advantage of this plan.
• Policyholders have the option to pay the premium in one go or multiple times in order to further increase their capacity.

Why do you need IndiaFirst Life MicroInsurance Plans?

A joint venture between Andhra Bank, Bank of Baroda and Legal & General Group, this company has more than 8000 network branches in the country. IndiaFirst Life draws on its team’s experience in wealth management and banking to provide some of the best products which addresses a number of concerns such as savings, retirement, health and protection. All products are economic to procure and also hassle-free. IndiaFirst Life boasts of a high claim-settlement ratio as well as robust customer care service.

IndiaFirst Life Insurance Company follows the principle of ‘customer first’ in all of its activities and is also technology driven so that customers can avail all their policies easily without the need to go to a branch to procure a plan. This company has also won a number of awards and recognitions such as ‘Best Customer Centric Employee Engagement Award’ in 2017, ‘Marketing Capability Award’ in 2016 and ‘Best PR Case Study’ in 2016.