Future Generali Flexi Online Term Plan

 Our lifestyle is a reflection of ourselves and we strive to ensure we maintain it at all times. Given the unpredictability of life, this accustomed lifestyle can become hard to maintain, which is where Future Generali’s Flexi Online Term Plan comes into play. This plan offers adequate support to the family of an insured individual, helping them continue with their life even in the absence of a policyholder.

Eligibility Criteria for Future Generali Flexi Online Term Plan

Individuals who wish to secure the lifestyle of their loved ones through Future Generali Term Plan need to satisfy the following basic criteria.

  • Minimum entry age – The minimum entry age for the basic life cover is 18 years while it is 25 years for the income protection option.
  • Minimum maturity age – The minimum maturity age for the basic life cover and income protection plan is 28 years and 45 years respectively.
  • Maximum maturity age – The maximum maturity age depends on the lifestyle of an applicant, with it being 65 years for smokers and 75 years for non-smokers for the basic life cover and 65 years for the .
  • Minimum policy term – The minimum policy term is 10 years.
  • Minimum monthly premium – The minimum monthly premium depends on the age of a policyholder, with it starting at Rs 25,000.

Features of Future Generali Flexi Online Term Plan

  • Simple – This plan is simple to understand and purchase, with an online purchase option making it quick and convenient.
  • Affordable premiums – Individuals can get high cover at affordable premium amounts.
  • Multiple payment options – Policyholders can choose from three pay-out plans, with an option for either lump sum, monthly or a combination of lump sum and monthly payment.
  • Customisation – A policyholder has the freedom to customise his/her plan, choosing a payment option which best suits the need of his/her family. One can choose between the basic life cover and income protection plan.
  • Special premium rates – Women and non-smokers are eligible for lower premium rates, with an additional incentive for a healthy lifestyle.
  • Discounts – Individuals who opt for a high sum assured are offered discounts on their premiums.
  • Free look period – A 30 day free look period is provided within which an individual can choose to return the policy.
  • Grace period – A 30 day grace period is provided in order to complete any premium payments.
  • Extended protection – upto the age of 75 years.

Benefits of Future Generali Flexi Online Term Plan

  • Death benefit – A death benefit will be paid to the nominee of a policyholder in the event of his/her unfortunate demise. This death benefit will be the higher of either 105% of total premiums paid, 10 times the annualised premium or the sum assured. A policyholder can choose how his/her nominee receives this benefit.
  • Tax benefits – The premiums paid and the amount received are eligible for tax benefits under suitable sections of the Income Tax Act of the country.

Example Scenario

Miss Priya, aged 40 years decides to purchase a basic life cover plan with a cover of Rs 1 crore and a 30 year term. She pays around Rs 10,000 per year as the premium towards this scheme. After 15 years, she is diagnosed with cancer and passes away within the next few months. In this case, her nominee, her son who is currently 25 years old will receive a lump sum payment of Rs 1 crore and the policy will cease to exist.


  1. Is there a maturity benefit under this plan?

    There is no provision for a maturity benefit under this scheme.

  2. What is the premium payment frequency under this plan?

    An annual premium payment frequency is provided under this plan.

  3. Are there any exclusions mentioned under this plan?

    Yes, there is a suicide exclusion clause which states that if a policyholder commits suicide while the policy is in force, the death benefit will be only 80% of the premiums paid and the policy will cease to exist.

  4. Will one get a surrender value on surrendering the policy?

    No surrender value will be paid.  

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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