IndiaFirst Life Insurance Claim Settlement
IndiaFirst Life Insurance has a simplified claim settlement procedure that allows the claimant/nominee to register and track their claims with ease. This simple 3-step process is amongst the most comfortable in the insurance sector. Besides, IndiaFirst Life Insurance takes pride in clearing all legitimate claims within one working day if all the documents are in order. The company has achieved a claim settlement ratio of 96.81% for individual claims in the financial year 2020-21.
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FAQs
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Can the nominee be a minor in the case of IndiaFirst Life Insurance plan?
Yes, the nominee can be a minor. Under such circumstances, the insured person names another person to receive the claim on behalf of the minor nominee.
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How long does IndiaFirst Life Insurance take to decide on insurance claims?
IRDA guidelines stipulate a maximum period of 15 days for deciding on insurance claims. IndiaFirst Life Insurance honours many claims within one day, as well if the documents are in order.
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How will the nominee receive the insurance money from IndiaFirst Life Insurance?
IndiaFirst Life Insurance credits the claim amount to the nominee/claimant’s bank account.
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Can the policyholder lodge a claim with IndiaFirst Life Insurance?
Yes, in the case of health plans and other maturity plans, the policyholder can lodge the claims. The nominee can lodge the claim only on the death of the insured person.