IndiaFirst Life Elite Term Plan

Share your basic details to calculate the premium

Why Choose IndiaFirst Life Insurance Plans?

1.64 Crore

Lives secured since inception

Savings

Available in 16,500+

BOB & UBI Branches

Savings

30,968 Crore

AUM as of Mar'25

Savings

1 Day

Claim settlement assurance

Savings

How to buy the IndiaFirst Life Elite Term Insurance Plan online?

Basic Details

Add your basic and personal information accurately and completely

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Choose Cover

Select the amount that will best fulfil your insurance goals

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Review Quote

Review the premium and quote details provided in the journey

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Make Payment

Pay online through the provided modes to receive the policy

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View All
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Death Claims

  • Duly filled and signed Claim Intimation Form
  • Original Policy Document
  • Original or Attested* Death Certificate issued by local authority
  • Claimant’s Valid bank passbook/statement or Cancelled Cheque with pre-printed Name and pre-printed Bank account number
  • Copy of claimant's photo identification proof and current address proof
  • Copy of medico legal cause of death certificate/MCOD
  • Medical records (admission notes, discharge/ death summary, indoor case papers, test reports, etc.)
  • Prior medical records of insured/ Life assured
  • Medical attendant's/ hospital certificate issued by doctor
  • Certificate from employer (for salaried individuals)
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Accidental/Suicidal Death

  • Postmortem report and chemical viscera report.
  • FIR/Panchnama/Inquest Report along with the final investigation report
  • Copy of driving license if Life Assured was driving the vehicle at the time of accident (applicable if 'Accident and Disability Benefit Rider' is opted)
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Maturity Claims

  • A fully completed and signed claim intimation form.
  • Original policy documents.
  • Policyholder's PAN Card copy.
  • A cancelled cheque indicating the account number and policyholder's name, or a copy of the bank passbook.
  • NRI declaration (if applicable for NRIs)

Claim Settlement Process

IndiaFirst Life ensures a simple and transparent term insurance claim settlement process so that your family receives financial support without delays.

  • Pure Protection

    Term insurance plans provide "pure risk" coverage for a set period (e.g., 20 years). Unlike investment-linked policies, they lack a savings component, which keeps the purchase price low while allowing for a high value of financial coverage.

  • Underwriting

    To determine your risk profile and the value of the payments required, the insurer’s underwriting team evaluates several key variables, including your age, medical history, income, occupation, and lifestyle habits.

  • Legal Framework

    A term insurance plan is a binding contract where you provide honest health/lifestyle data in exchange for coverage. Any misrepresentation or failure of payment can void the agreement and lead to rejection of benefits.

  • Dynamic Coverage

    Plans can evolve with "Life Stage" upgrades (increasing cover after marriage/birth) or with riders that provide extra payouts for critical illness, accidental disability, or terminal conditions.

  • Payouts

    After you buy a term plan, a lump sum amount or a form of regular income is paid to a designated individual if the insured passes away during the term. Standard plans offer no payout upon survival. Return of Premium (ROP) plans refund premiums at the end of the term (for a higher cost at the beginning).
How to Buy the Best Term Insurance Plan in India?

How does the IndiaFirst Life Elite Term plan work?

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Age 40

Jayesh is a bank manager with a wife and 8-yr old daughter. He buys the IndiaFirst Life Elite Term Plan.

40 – 41 Years

Jayesh opts for a Sum Assured of Rs. 1 Crore and coverage till age 80 years, to secure his family’s future. As he receives a 10% discount on his 1st year premium, he pays an annual premium of Rs. 26,344 (Inclusive of GST) for the 1st year.

42 – 53 Years

He pays an annual premium of Rs. 29,272 (Inclusive of GST) regularly from the 2nd year onwards, at age 42 years.

Age 54

Jayesh unfortunately passes away from an illness. His wife, who is the nominee, takes the Sum Assured of Rs. 1 Crore as a lumpsum and the policy terminates.

How to buy IndiaFirst Life Elite Term Plan

1. Enter Details

Fill in your name, mobile number, gender and other required essentials, accurately and completely.

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2. Choose Cover

Select the amount that will best fulfil your family’s future financial needs.

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3. Review Quote

Review your quote & premium amount details thoroughly, as any misinformation can impact your eligibility.

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4. Make Payment

Choose your preferred online mode of payment to complete the process and receive the policy.

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How Does The IndiaFirst Life Elite Term Plan Work?

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At age 40

Jayesh is a bank manager with a wife and 8-yr old daughter. He buys IndiaFirst Life Elite Term Plan.

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His Plan Options

Jayesh opts for a Sum Assured of Rs. 1 Crore and coverage till age 80 years, to secure his family’s future. As he receives a 10% discount on his 1st year premium, he pays an annual premium of Rs. 26,344 (Inclusive of GST) for the 1st year

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Premium Payment

He pays an annual premium of Rs. 29,272 (Inclusive of GST) regularly from the 2nd year onwards, at age 42 years.

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At age 54

Jayesh unfortunately passes away from an illness. His wife, who is the nominee, takes the Sum Assured of Rs. 1 Crore as a lumpsum and the policy terminates.

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Why Choose IndiaFirst Life Insurance Plans?

Know More

1.79 Crore

Lives secured since inception

list

Available in 16,500+

BOB & UBI Branches

list

34,403 Crore

AUM as of Mar’25

list

1 Day

Claim settlement assurance

list
View All

Claim Settlement Process

Step 1: Claim Registration

You can register your claim using any of the given modes: online in our website, through email or call, by visiting us at branches, by courier or by immediate registration. Click here to learn more in detail

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Step 2: Claim Assessment

Our team will thoroughly evaluate the claim details and notify you if any further information is needed. All the information will be shared with you on your registered contact details – SMS/Email/Letters.

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Step 3. Claim Settlement

After a comprehensive evaluation, we will render a fair and timely decision on the claim.

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Claim Documents

  • Plans

  • Investment strategies

Death Claims

  • Duly filled and signed Claim Intimation Form
  • Original Policy Document
  • Original or Attested* Death Certificate issued by local authority
  • Claimant’s Valid bank passbook/statement or Cancelled Cheque with pre-printed Name and pre-printed Bank account number
  • Copy of claimant's photo identification proof and current address proof -
  • Copy of medico legal cause of death certificate/MCOD
  • Medical records (admission notes, discharge/ death summary, indoor case papers, test reports, etc.)
  • Prior medical records of insured/ Life assured
  • Medical attendant's/ hospital certificate issued by doctor
  • Certificate from employer (for salaried individuals)
Read More Read Less

Accidental/Suicidal Death

  • Post mortem report and chemical viscera report.
  • FIR/Panchnama/Inquest Report along with the final investigation report
  • Copy of driving license if Life Assured was driving the vehicle at the time of accident (applicable if 'Accident and Disability Benefit Rider' is opted)
Read More Read Less

Maturity Claims

  • A fully completed and signed claim intimation form.
  • Original policy documents.
  • Policyholder's PAN Card copy.
  • A cancelled cheque indicating the account number and policyholder's name, or a copy of the bank passbook.
  • NRI declaration (if applicable for NRIs)
Read More Read Less

How can we help?

View All FAQ

What is IndiaFirst Life Elite Term Plan?

Answer

IndiaFirst Life Elite Term Plan is a pure protection plan which offers an insurance cover on your life till age 99. This policy secures your family and loved ones in case of your untimely demise. You can easily purchase the term insurance plan online.

What are the options to revive a lapsed policy?

Answer

You may revive the lapsed policy within 5 years from the due date of first unpaid regular premium but before the maturity date by:

  1. Submitting a written request to revive the lapsed Policy

  2. Paying all unpaid due premiums without any interest; and

  3. Providing a declaration of good health and undergoing a medical examination at your own cost, if needed.

 A lapsed policy will only be revived along with all its benefits in accordance with our board approved underwriting policy. The policy will terminate and you will not be entitled to receive any benefits, If the lapsed policy is not revived before the expiry of the revival period.

Can you surrender your policy?

Answer

No, there is no surrender value payable under this plan.

Can you cancel your policy?

Answer

Yes, you can cancel your policy if you disagree with any of the terms and conditions within 30 days (free look period) from receipt of your policy document, whether electronically or

otherwise. You can return the policy to us, while stating your specific objections. Request for cancellation of policy during free look period will be processed and premium will be refunded within 7 days of receipt of request.

Do you get any loan benefits under your policy?

Answer

Loan facility is not available under this policy.

What happens in case of submission of information which is false or incorrect?

Answer

Fraud/ Misstatement will be dealt with in accordance with provisions of Section 45 of the Insurance Act 1938, as amended from time to time.

How much Premium do you need to pay?

Answer

Premium will depend on the life assured’s age, the policy term and the sum assured chosen.

The mode of premium payment and frequency will also impact the premium amount. The following premium frequency factors will apply on the yearly premium to avail of installment premium. 


Premium FrequencyFactor To Be Applied To Yearly Premium
Monthly0.0870
Half Yearly0.5119
Quarterly0.2590
Yearly1


A term insurance calculator is a simpler alternative to calculating your premium manually. Based on certain inputs, it can offer premium estimates for your plan.

What happens if you miss paying premiums? Is there a grace period for missed premiums?

Answer

We provide a grace period of 30 days for Yearly, Half-Yearly or Quarterly premium mode and 15 days for Monthly premium mode. This period starts from the due date of each premium payment. All your policy benefits continue during this grace period. In case of death during the grace period, we will pay the sum assured to the nominee/appointee/legal heir after deducting the due premium.

If you do not pay your premiums before the end of the grace period, your life cover ceases, and your policy will lapse.

How does the IndiaFirst Life Elite Term Plan work?

Answer

The Elite Term Plan provides life insurance coverage for a chosen policy term. In case of the life assured’s demise during the policy term, the nominee receives the sum assured as a lump sum or monthly instalments, as selected.

What premium payment options are available under this term insurance plan?

Answer

The policy offers flexible premium payment options, including monthly, quarterly, half-yearly, yearly, or one-time payment, depending on the chosen plan configuration.

What payout options are available on death under the Elite Term Plan?

Answer

The death benefit can be paid as a lump sum or as monthly instalments for five years, based on the option selected at policy inception.

What is the Sum Assured in this policy?

Answer

The Sum Assured under this policy will be higher of:

  • Sum Assured on Death

  • 10X the annualized premium

  • 105% of Total Premiums Paid (TPP) till date of death.

Customer to choose the Sum Assured on Death subject to minimum and maximum Sum Assured conditions as per Board approved underwriting policy. Premium will be calculated on the basis of Sum Assured chosen. Please refer to the eligibility criteria mentioned above for more details.

What is the benefit payable in case of the life assured’s demise? (Death Benefit)

Answer
Coverage OptionsDeath Benefit
Option: Life Benefit 

Sum Assured as a lumpsum amount is payable on the death of the life assured, during the term of the policy.

However, the nominee has an option to receive level monthly instalments over a period of 5 years.

The policy terminates once the full amount of benefit is paid out.

How do I register a claim under the IndiaFirst Life Elite Term Plan?

Answer

You can register a claim online through the IndiaFirst Life website, via email or call, by visiting a branch, through courier, or through immediate registration assistance.

What happens after I register a term insurance claim?

Answer

Once the claim is registered, the claim assessment team evaluates the claim details and may request additional information. Updates are shared via SMS, email, or letters.

How is the claim settled under the Elite Term Plan?

Answer

After comprehensive evaluation, IndiaFirst Life renders a fair and timely decision on the claim, ensuring financial support to the nominee.

What do you receive at the end of the policy term? (Maturity Benefit)

Answer

There is no maturity or survival benefit payable under this policy. This is a non-participating pure term insurance policy.

What happens in case the life assured commits suicide?

Answer

In case of death due to suicide within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as applicable, the nominee or beneficiary of the policyholder shall be entitled to 80% of the total premiums paid till the date of death or the surrender value available as on the date of death, whichever is higher, provided the policy is in force.

Product Related Documents

Answer

Download essential documents and forms here

STEP 1: CONTACT US

Answer

ONLINE:

  • Log in to the Customer Portal  here.
  • Go to the QRC (Queries, Requests and Complaints) section and raise the request/complaint.
     

EMAIL US:

For Life Insurance Policy:

Email ID: customer.first@indiafirstlife.com
 

CALL US:

  • On our Toll free number 1800-209-8700 from Monday to Saturday between 9am to 7pm.
  • Walk in to any of our IndiaFirst Life branch. Locate the nearest branch here.
     

VISIT US:

Walk in to any of our IndiaFirst Life branch and submit your grievances.

Click here to contact our grievance redressal officers in your city.
 

MAIL/COURIER:

Write to us at the address mentioned below:

Customer Care
IndiaFirst Life Insurance Company Ltd
12th and 13th Floor, North [C] wing, Tower 4,
Nesco IT Park, Nesco Center, Western Express Highway,
Goregaon (East), Mumbai – 400063

A written communication giving reasons of either redressing or rejecting the grievance will be sent to you within 14 (Fourteen) days from the date of receipt of the grievance

You can view our Grievance Redressal Policy here.

STEP 2: TAKE YOUR GRIEVANCE FURTHER

Answer

If you are not satisfied with our resolution provided or have not received any response within 14 (Fourteen) days, then, you may approach our Grievance Officer at any of our branches Click here  

 

Or you may write to our Grievance Redressal Officer through email - grievance.redressal@indiafirstlife.com.  

Alternatively, you can also write to the Grievance Redressal Officer at the address mentioned below:

Rajnish Kumar
Grievance Redressal Officer
IndiaFirst Life Insurance Company Ltd
12th and 13th Floor, North [C] wing, Tower 4,
Nesco IT Park, Nesco Center, Western Express Highway,
Goregaon (East), Mumbai – 400063

Please quote your Complaint/Service Request ID. This would have been provided to you on registration of your complaint in Step 1


If no reply is received from the customer within fifty-six days from the date of registration, then the complaint/grievance shall be disposed as per the disposal guidelines laid down by the Authority.

 

STEP 3: APPROACH IRDAI GRIEVANCE CELL

Answer

If you are not satisfied with the response or do not receive a response from us within 14 days, you may approach the Grievance Cell of the Insurance Regulatory and Development Authority of India (IRDAI) on the following contact details:

IRDAI Grievance Call Centre (IGCC) TOLL FREE NO: 155255 or 18004254732 Email ID: complaints@irda.gov.in

You can also register your complaint online at:  https://bimabharosa.irdai.gov.in/

 

Alternatively, you can also follow the below steps:

MAIL/COURIER:

Write to us by communicating your complaints at the address mentioned below:

Consumer Affairs Department
Insurance Regulatory and Development Authority of India,
Sy. No. 115/1, Financial District, Nanakramguda
Gachibowli, Hyderabad- 500032, Telangana
 

FAX:

Number: 91- 40 – 6678 9768

 

STEP 4: REACH OUT TO INSURANCE OMBUDSMAN

Answer

In case you are dissatisfied with the resolution or your problem remains unsolved you may then directly approach the Insurance Ombudsman. Click here to find the address

The complaint should be made in writing duly signed by the customer/complainant or by his legal heirs with full details of the complaint and the contact information of customer/complainant.

As per provision 13(3) of the Redressal of Public Grievances Rules 1998, the complaint to the Ombudsman can be made

  • Only if the grievance has been rejected by the Grievance Redressal Machinery of the Insurer
  • Within a period of one year from the date of rejection by the insurer
  • If it is not simultaneously under any litigation

Disclaimer

*Monthly premium for 1 Cr sum assured bought offline for 20-year-old healthy male for cover up to age 75 would be Rs. 608 (Rs. 20.27 per day) Regular monthly premium from year 2 for the same parameters would be Rs. 676 (22.53/day).

 

Tax exemptions are as per applicable tax laws from time to time.

 

IndiaFirst Life Insurance Company Limited, IRDAI Regn No.:143, CIN: U66010MH2008PLC183679, Address: 12th & 13th floor, North [C] Wing, Tower 4, Nesco IT Park, Nesco Center, Western Express Highway, Goregaon (East), Mumbai – 400 063. Toll-free No – 18002098700. Email Id: customer.first@indiafirstlife.com, Website: www.indiafirstlife.com, Fax No. +91226570600. Trade logo displayed above belongs to our promoter M/s Bank of Baroda and is used by IndiaFirst Life Insurance Co. Ltd.

BEWARE OF SPURIOUS/FRAUD PHONE CALLS

IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.