India First Life Guaranteed Protection Plan is a term insurance plan offered by the India First Company. Using a term insurance plan, you can get a large cover, for a very nominal premium (almost 1000X). This makes it one of the easiest, most cost-effective, and simple ways to protect the financial interests of your loved ones, should your death happen during the term of the policy. With this term insurance plan from India First Life Insurance Company, your family will be paid a sum of money as a death benefit, in case your death happens during the term of the policy.
A key feature of this plan is that you can choose the exact number of years you want to pay your premiums for (after the first 5 years, until maturity). However, this plan doesn’t allow you to choose some important customizations such as increasing covers nor does it give you many options to customise how your family will receive the claim amount. This product is also considerably expensive compared to other products in the market. Coming to the customer's experience, this insurer was found to offer a good experience during the policy purchase phase, but has a poor track record with respect to claims service experience.
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
India First Life Guaranteed Protection Plus Plan is a term insurance plan offered by the India First company.
If you are looking for a plan that comes with various benefits and customisation options, then India First Life Guaranteed Plan might be your ideal plan. It offers several customization options such as a rolling limited pay and increasing cover.
On the flip side, however, this plan does not offer many claim payout options and the critical illness rider sold with this plan is an accelerated one, ie., it is a part of the base cover itself, and not an additional amount. Further, the insurer also holds a comparatively poor track record in terms of its purchase and claim settlement process. So, there are chances your family is likely to face some hurdles during the claims process.
Here are some of the top benefits which come with the India First Life Guaranteed Protection Plus Plan.
India First Life Guaranteed Protection Plus Plan comes with some additional benefits called Riders, that you can choose with an additional cost. These additional benefits help you to boost your term insurance policy. The rider options available with this policy are -
However, you don’t require all the riders. Ensure you choose a rider as per your family’s financial needs.
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 carrying out toll-free services and connecting over social media platforms like Twitter, the response over both the services is slow.
This suggests that your family or nominee is going to have trouble if they have some 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 analyzed by our in-house research team and considering its product benefits, customer service, and claims experience, India First Life Guaranteed Protection Plus Plan gets a Beshak⭐Rating of 3.3/5.