IndiaFirst Life e-Term Plus Plan
Introduction to IndiaFirst Life e-Term Plus Plan
India First Life e-Term Plus Plan is a term insurance plan offered by the India First Company. A term insurance plan is one of the most cost-effective ways to ensure your family will have a secure financial future. With this plan, your family will be paid a sum of money as a death benefit, in case you pass away during the policy period. This money can help them meet their financial needs, without compromising on their current lifestyle - as well as pay off any pending loans or liabilities you might leave back.
This product is one of the cheapest plans in the market and allows customizations such as increasing cover and early exit option. On the flip side, however, it doesn't allow many claim payout options to customize how your family receives the claim amount. Important customizations such as limited pay and comprehensive critical illness coverage are also not available with this product. Further, as per our research, the insurer received fewer policy purchase complaints, and has a good track record of settling claims faster - but they received a higher number of complaints during claim settlement.
Pros & Cons: IndiaFirst Life e-Term Plus Plan
Much cheaper than other products in the market- Offers the option to automatically increase your claim amount, with time
- Offers early exit option, returns your premiums if you opt out of the plan while it is active
- Good track record of settling claims faster than other insurers
- Received fewer complaints during policy purchase compared to other insurers
Not many options to customize claim payouts- No Limited Pay options available, to speed up payments
- Critical illness rider is not an additional cover, it pays out from the life cover amount
- Received higher number of complaints on claim settlement compared to other insurers
- Our study observed their responses on Twitter to be relatively slower than other insurers
About IndiaFirst Life Insurance Co. Ltd.
India First is a Life Insurance company in India. It offers Term Life Insurance, Traditional Savings and Unit Linked Insurance Plans. Founded in 2009, it is a joint venture between Bank of Baroda, Union Bank of India and Legal & General. The company is headquartered in Mumbai. The MD & CEO of India First is Mr. Ms.R.M.Vishakha
Detailed Product Specs & Rating: IndiaFirst Life e-Term Plus Plan
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