India First Life Guaranteed Protection Plan is a term insurance plan offered by the India First Life Insurance 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 provides the Rolling Limited Pay option, which allows you to choose the exact number of years over which you'd like to pay your premiums (as specified by the insurer). However, it doesn’t allow you to choose other important customizations such as increasing cover, critical illness rider. It also doesn’t give you many options to customize how your family will receive the claim amount. Further, it is expensive compared to other products in the market. And, while the insurer has received fewer policy purchase complaints, they have a poor track record of settling claims faster and received a higher number of claim settlement complaints compared to other insurers - as per our research.
India First is a Life Insurance company in India. Founded in 2009, it is a joint venture between Bank of Baroda, Union Bank of India and Carmel Point Investments India Private Limited. The company is headquartered in Mumbai. The MD & CEO of India First is R. M. Vishakha.
India First Life Guaranteed Protection Plan is a term insurance plan offered by the India First Life Insurance company.
This plan has a unique feature called Rolling Limited Pay that allows you to choose the exact number of years you want to pay premiums for, as determined by the insurer. However, it has some limitations as it doesn't offer options for increasing coverage or early exit. The plan also doesn't provide much flexibility in terms of how the claim amount will be received by your family. Moreover, it is relatively more expensive compared to other products in the market. Despite these limitations, our research shows that the insurer has a good track record of settling claims quickly, but has received a higher number of complaints during the claim settlement process.
Now, let’s look at some of the top benefits that the India First Life Guaranteed Protection Plan offers.
India First Life Guaranteed Protection Plan comes with some additional benefits called Riders, which you can choose at an additional cost. These additional benefits help you to boost your term insurance policy. The rider available with this policy is -
Like every insurance company, India First also includes some disadvantages. Such as-
As per the research carried out by our in-house research team, we gathered that the customer service is poor compared to other insurance companies. Despite having toll-free services and connecting over social media platforms like Twitter, the response over both is slow.
This suggests that your nominee may have trouble if they have queries related to the claim process or while trying to gain information about the claim status.
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.
Based on the 100+ parameters analysed by our in-house research team and considering its product benefits, customer service, and claims experience, India First Life Guaranteed Protection Plan gets a Beshak⭐Rating of 3.2/5.
Add 3 more plan to compare