Compare Future Generali Term Insurance Plans

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Future Generali Life Insurance Company

Incepted in the year 2007, Future Generali Life Insurance Company (Future Generali) is a joint venture between three business conglomerates: Future Group – a renowned retailer of India, Generali Group - a global insurance company revered as one of the top 50 largest companies in the world, and the Industrial Investment Trust Limited (IITL) – an eminent investment house. With over 80 offices in the country, this company is known for its simple yet best-in-class products & solutions that help Indian consumers to plan their financial goals and simultaneously protect them from the unforeseen exigencies of life.

Future Generali Term Plans

Future Generali Term Plans enable you to safeguard your loved ones against life’s uncertainties & critical scenarios. They act as a safety net and protect your family against liabilities, in case you are not around them. With high life coverage available at affordable premiums, these plans ensure that you leave behind sufficient funds for your dependants so that they can lead a comfortable lifestyle, even in your absence.

Term Plans:
Are you on the lookout of a simple way of ensuring financial security of your family? Term Plans offer the perfect solutions to this desire of yours. These plans provide protection against unfavourable eventualities and enable your loved ones to sustain the same lifestyle, even in your absence. When you are alive, you are the sole protector of your family, but when you are gone these plans provide all the financial support, and ensure that compromises do not come into the way of fulfilment of their dreams.

 
  • Common Features of Future Generali Term Plans:
  • Special options & rebates for non-smokers
  • Availability of Riders to enhance your protection
  • No Maturity or Surrender Benefits, just pure life coverage
  • Income Tax benefits

List of Different Term Plans Offered By Future Generali Life Insurance Company, With Features, Benefits And Eligibility

Future Generali Flexi Online Term Plan

Features:

  • A simple online Term Plan
  • 3 Pay-out Options to choose from –
    1. Basic Life Cover: A lump sum amount is granted to the nominee on the death of the insured
    2. Fixed Income Protection: If the insured passes away during the policy term, the nominee gets entitled to receive a fixed amount every month for a period of time, which is the higher of : the next 10 years or till the time the insured would have attained the age of 60 years had he been alive
    3. Increasing Income Protection: In the event of the demise of the insured before the policy matures, the nominee starts receiving a fixed income every month, which increases at a simple rate of 10% every subsequent year, for a period of time, which is the higher of : the next 10 years or till the time the insured would have attained the age of 60 years had he been alive
  • On selecting the Fixed Income Protection or the Increasing Income Protection plans, the nominee also has an option to claim the entire amount in one go as a lump sum, which is discounted at 6.5% p.a. on compounded basis     
  • Avail life cover till you reach the age of 75 years
  • Higher upper ceiling of policy term & maturity age for non-smokers
  • Pay a marginal premium and avail extra benefits under Accidental Benefit Rider
  • Simple application procedure
  • Easy to buy
  • Lower premiums if the insured is a woman
  • Enjoy the perks of getting discounts on premium, when you select a higher sum assured
  • Avail income tax benefits on premium payments & proceeds

Benefits:

Death Benefit: The Death Benefit payable to the nominee on the death of the insured is calculated as the higher of:

  1. 10 times Annualised Premium (excluding taxes and extra premiums, if any),
  2. 105% of total premiums paid (excluding taxes and extra premiums, if any) as on date of death,
  3. Here, the amount of the Sum Assured will be dependent on the payout option chosen.

Eligibility:

Minimum Entry Age (last birthday) For Basic Life Cover: 18 years | For Income Protection: 25 years
Maximum Entry Age (last birthday) 55 years for all the pay-out options
Minimum Maturity Age For Basic Life Cover: 28 years | For Income Protection: 45 years
Maximum Maturity Age For Basic Life Cover: Smoker - 65 years/ Non-Smoker – 75 years | For Income Protection: 65 years
Minimum Policy Term For Basic Life Cover: 10 years | For Income Protection: 10 years subject to minimum maturity age of 45 years
Maximum Policy Term For Basic Life Cover: Smoker - 65 years minus entry age/ Non-Smoker – 75 years minus entry age| For Income Protection: 65 years minus entry age
Premium Payment Term Same as Policy Term
Premium Payment Frequency Annual / Monthly
Sum Assured:
Plan: Basic Life Cover
Minimum Lump Sum Rs. 50,00,000
Maximum Lump Sum No Limit
Plan: Fixed Income Protection
Entry Age Minimum Monthly Amount Maximum Monthly Amount
25-43 Rs. 25,000 No Limit
44-48 Rs. 35,000 No Limit
49-55 Rs. 42,000 No Limit
Plan: Increasing Income Protection
Entry Age Minimum Monthly Amount Maximum Monthly Amount
25-48 Rs. 25,000 No Limit
49-55 Rs. 30,000 No Limit

Riders:

Future Generali Accidental Benefit Rider (UIN: 133B027V01): On paying an extra premium, you can choose to avail the Accidental Benefit Rider, which entitles your nominee to receive an additional benefit in the event of your untimely death due to an accident. There are two options available under this rider -  
Option 1: Accidental Death Protection Option, and  
Option 2: Accidental Death and Accidental Total and Permanent Disability Protection
While in the case of accidental death, your beneficiary receives the additional benefit equivalent to the Rider Sum Assured, in the case of total & permanent disability, you are entitled to receive the first installment of the benefit on the date of settlement of the rider claim, followed by 9 subsequent annual installments receivable each year from the date when the disability was first diagnosed.

Future Generali Care Plus

Features:

  • A simple Term Plan
  • Avail high life cover at affordable premiums
  • Make a choice between two plans – i) Classic for choosing a coverage upto Rs. 24,99,999 & ii) Premier for opting for a coverage of more than Rs. 25,00,000
  • Choose your Sum Assured, Policy Term, & Premium Payment Modes as per your requirements
  • Special rebates for non-smokers
  • Enjoy income tax benefits on premium payments & proceeds

Benefits:

  • Death Benefit: In the unfortunate event of the demise of the Life Assured, the company grants a lump sum amount as the Death Benefit to the nominee.

Eligibility:

Minimum Entry Age (As on last birthday) 18 years
Maximum Entry Age (As on last birthday) 60 years
Maturity Age Maximum – 65 years (as on last birthday)
Policy Term Minimum: 5 years | Maximum: 30 years
Minimum Sum Assured For Classic Option: Rs. 10,00,000 | For Premier Option: Rs. 25,00,000
Maximum Sum Assured For Classic Option: Rs. 24,99,999 | For Premier Option: No Limit
Minimum Premium Amount For Classic Option: Rs. 2,500 | For Premier Option: Rs. 5,000
Premium Payment Modes Annual/ Half-yearly/ Monthly

Riders:
Future Generali Non Linked Accidental Death Rider (UIN: 133B023V01) : This entitles your family to receive the coverage amount of the Rider, in case of your death occurring as a result of an accident.

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