IndiaFirst Life Insurance Company

The company offers comprehensive life insurance plans of different categories like term plans, investment plans, micro life insurance plans, savings plans, retirement plans and many more catering to the needs of its customers.

With Pazcare employers can provide their employees with a group term life insurance policy from IndiaFirstLife Insurance company. Get the best quotes for the IndiaFirstgroup term insurance policy and manage the policy using Pazcare’s tech-enabled dashboard. 

How to buy IndiaFirst group term life insurance from Pazcare?

These simple steps allow you to purchase the IndiaFirst group term life insurance policy online from Pazcare.

Step 1: Visit https://www.pazcare.com/ and click on the products drop down and choose group term life insurance.

Step 2: You will see a form that asks for details like your name, phone number, work email address and the number of employees you wish to purchase IndiaFirst group term life insurance.

Step 3: Once you submit this form, our insurance consultants will get back to you to understand what policy you want to offer your employees. We will also ask for the active employee data like the employee ID, the CTC, the designation, etc. to give you quotes.

Step 4: Once the data is submitted, we will get back to you with the best quotes for the group term life insurance policy from IndiaFirst Life Insurance company.

Step 5: You can accept the terms and conditions of the policy and pay the premium quoted for that particular year. The policy gets activated immediately after the purchase.

Step 6: Our team will help you with the whole process and also take you through the Pazcare dashboard where you can manage the IndiaFirst group term life insurance policy.

For further information, write to us at support@getpaz.com or call our customer care at +91 78291 11300. Alternatively, connect with us on Whatsapp using the number +91 81973 79596.

IndiaFirst group term life insurance plan

IndiaFirst group term insurance for employees is a fully customisable term life insurance plan. The premiums paid are much lower than those of other retail term insurance plans. The plan comes with optional rider benefits like

• Critical illness rider
• Accidental death rider
• Total and permanent disability rider

These are some of the rider options available for your IndiaFirst group term insurance policy. The riders can be claimed according to the terms and conditions of the policy.

IndiaFirst group term insurance renewal

The IndiaFirst group term insurance can be renewed easily with Pazcare at end of the policy term. Here is how you can renew your group term life insurance policy.

Step 1: Get in touch with Pazcare. Submit the form containing details like your name, name of the company, number of employees you wish to insure, work email address and phone number.

Step 2: Once the form is submitted, our life insurance consultants will get in touch with you and request you to submit the following documents.

• Active data of the employees - name, age, gender, designation, CTC, Covid status and vaccination report, etc
• Claim history of the last 3 years along with the reason for the death of the employees (if any)
• Policy copy

Step 3: After submitting these details you can choose any additional riders to the policy at your convenience. These riders are critical illness riders, accidental death benefit riders, accidental death, etc. Once you decide, we will get back to you with the best quotes for your IndiaFirst group term insurance policy.

Step 4: The next step is to agree to the terms and conditions of the policy and pay the premium for your IndiaFirst group term life insurance policy. 

Step 5: The policy gets activated immediately after paying the premium. Our team will guide you through the whole process and help you with the onboarding process too. 

We make sure that your IndiaFirst-term insurance experience will be seamless using our Pazcare dashboard. Your employees can access their policy using Pazcare’s employee app which is available on both the app store and the play store.

IndiaFirst Life Insurance claim settlement ratio

The claim settlement ratio is the percentage of the claims settled by the IndiaFirst Life insurance company during a particular financial year. Hence, the higher the claim settlement ratio, the better chances of the claims getting settled. 

In the financial year, 2019-20, the claim settlement ratio of IndiaFirstLife Insurance is 96.81%.

IndiaFirst group term insurance premium

The IndiaFirst group term insurance premium depends on various factors like

Covid status

The Covid-19 pandemic has caused a lot of deaths in recent years. Hence, the covid status and the vaccination status of the employee impact the premium of the IndiaFirst group term life insurance plan.

Sum assured

Premium will also be based on how much sum assured the employer wants to offer. A higher sum assured means the employers have to pay higher premiums.

Risk category

The nature of the job and the risks involved for the employees also determine the group premium. Employees who travel frequently or work in risky environments may have higher premiums.

Claim history

In the case of renewals, the claims history for the last 3 years, the reason for the death of the employee also determine the premium of IndiaFirst group term life insurance policy.