Future Generali Life Insurance

Future Generali Life Insurance Plan Details

Future Generali Term Plans:

• Future Generali Care Plus Plan: This is a pure term plan that offers a high life cover at low premium and provides coverage against life’s uncertainties.
• Future Generali Flexi Online Term Plan- this is an online term plan that offers life cover as well as a monthly income and the choice to mould the plan based on the policyholder’s requirements.

Future Generali Guaranteed Plans:

• Future Generali Pearls Guarantee Plan: The plan offers multiple term options, flexibility of paying for a limited period and regular returns compounded reversionary bonuses throughout the Policy Term. Your family gets a lump sum amount as well as the vested and terminal bonus (if any) at the end of policy tenure.
• Future Generali Saral Bima: A single premium policy offering six different fund options between equity, debt and balanced, ability to switch funds forms the highlights of this policy. The fund offers withdrawal any time after 5 years without any charges.
• Future Generali Assured Income Plan: This is a limited premium insurance plan where you pay premiums only for 11/15 years and get guaranteed payout for an equivalent number of years. Additional Benefits may include up to 4.5 times your annualized premium along with the last payout along with death benefits to the nominee of the insured.
• Future Generali Assured Money Back Plan- this is a non-linked, non-participating money back plan that offers a choice of 4 policy terms and a guaranteed 10% of the Sum Assured as cash back annually (for 9 years) as well as 110% of the Sum Assured at maturity.
• Future Generali Assured Education Plan- this is a non-linked, non-participating plan that provides for a child’s education needs through a saving mechanism until the child reaches 17 years of age along with guaranteed pay-outs and optional riders.

Future Generali ULIP Plans:

• Future Generali Bima Gain: This is a ULIP plan where a single payment helps you meet dual objectives of wealth creation and life protection. It also offers monthly/quarterly/half-yearly payment options, and an option to switch between six funds. The policy also offers partial withdrawals any time after 5 years as one of its other features.
• Future Generali Pramukh Nivesh: This is a ULIP where all the premiums you pay are invested in the funds of your choice without any Allocation Charges. It safeguards your returns at maturity through systematic funds transfer options from equity-oriented funds to a debt oriented funds during the last 3 years. Options to switch between six funds, and withdrawals any time after 5 years are its other features.
• Future Generali Wealth Protect Plan: This plan offers you high cover (up to 30 times the annual premium), guaranteed loyalty addition, monthly/quarterly/ half-yearly payment frequencies, and option to switch between debt, equity and balanced funds. After 5 years, you can avail partial withdrawals.
• Future Generali Bima Advantage Plus Plan: The plan offers you monthly/quarterly/half-yearly payment frequencies, and options to switch between debt, equity and balanced funds. After 5 years, you can avail partial withdrawals which makes it a good plan to cover medium to long term gains.
• Future General Dhan Vriddhi: The plan offers the flexibility of paying limited premiums and staying invested for a longer tenures, targeting higher returns to meet your medium and long-term financial goals. Monthly/quarterly/ half-yearly payment frequencies, and option to switch between six funds, and partial withdrawals after 5 years are its other features.

• Future Generali Easy Invest Online Plan- this is a premium-linked ULIP that offers life cover as well as partial withdrawal after the 5th policy year, in addition to loyalty additions throughout the policy period. Also allows for fund switching throughout the policy term.

Future Generali Traditional Plans:

• Future Generali Assure Plus: This plan offers flexibility of paying for a limited period and regular returns compounded reversionary bonuses throughout the Policy Term. Your family gets a lump sum amount as well as the vested bonuses and terminal bonus (if any) at the end of policy.
• Future Generali New Saral Anand- this is a non-linked, participating endowment plan that offers life cover along with a choice of benefits such as extended life cover (up to 100 years of age) as well as bonuses upon maturity.
• Future Generali Triple Anand Advantage- this is a non-linked, participating endowment plan that offers policyholders a fixed amount for 5 years after the premium payment term as well as life cover up to 80 years of age in addition to 50% of the Sum Assured + interest on maturity.

Future Generali Rural Plans:

• Future Generali Jan Suraksha Plus: this is a non-linked, non-participating traditional insurance plan that offers life coverage with guaranteed maturity amount at affordable rates.
• Future Generali Jan Suraksha: this is a non-linked, non-participating life insurance plan that offers single premium payment life coverage.

Future Generali Retirement Plans:

• Future Generali Pension Guarantee Plan: This is a retirement plan that helps you create a savings corpus for your retirement. At maturity, the policy returns a minimum guaranteed 101% of all premiums paid and additionally, bonuses, if declared, are added throughout the term.
• Future Generali Immediate Annuity Plan: This is a retirement plan that offers a fixed income for the rest of the life of the insured. They have the flexibility to choose a monthly or yearly payout mode or to choose between ‘Life Annuity’ and ‘Life Annuity with return of Purchase Price.’ It also offers an annuity card that ensures convenience in withdrawing the annuity amount.

Future Generali Group Plans:

• Future Generali Group Superannuation Plan: This plan offers a guaranteed return with a minimum floor rate of 1% p.a. on the contributions made plus subscribers get additional returns declared in the form of annual bonuses over and above the minimum floor rate. After 5 years a residual addition is also added to the fund.
• Future Generali Group Leave Encashment Plan: This is a group plan that offers guaranteed returns with a minimum floor rate of 1% per annum which is credited quarterly in advance. The subscribers also get an additional interest rate which is over and above the minimum floor rate which is declared in advance for each quarter. This helps companies manage their leave encashment liabilities.
• Future Generali Group Gratuity Plan: This is a group plan specifically designed for companies that offer gratuity benefit to their employees.
• Future Generali Group Term Life Insurance Plan: This is a plan designed for groups that want to provide affordable life insurance coverage to their members.
• Future Generali Loan Suraksha: As the name suggests, this is an insurance policy that has been designed specifically for companies/groups that offer loans to their members

Future Generali Life Insurance Claims Process:

Policyholders who wish to file a claim can do so in a few quick and easy steps through a number of avenues. Policyholders can file a claim either online or offline, depending on their convenience.

The claims process is also transparent and quick, ensuring the claim is resolved in the quickest possible time and with minimum inconvenience to the claimant.

The claims process is outlined below:

• Claimants wishing to file a claim are required to notify the company at the outset. Claimants can register a claim online, or they can send an email to the customer care. Claimants can also submit a written intimation at any Future Generali branch office.
• The claim is to be filed with a Claim Form (available online or at any branch) as well as the documents (depending on the type of claim being filed).
• Once the documents and claim form reach the office, the claims assessors will verify the documents. Any additional documents, if required, will be requested at this stage.
• On completion of the verification, a decision on the claim status will be taken and the claimant will be notified of the same.
• In case of successful claims, the settlement amount will be calculated after computing any additions, deductions etc.
• The settlement amount will be transferred to the claimant through NEFT only.

Future Generali Claim Settlement Ratio:

A claim settlement ratio is the percentage of claims that the company has paid out in a given financial year. The claim settlement ratio for Future Generali is given below:

Documents Required for Future Generali Life Insurance:

When applying for a life insurance policy, there are a list of documents that have to be provided for identification purposes along with the application form. The documents to be submitted when applying for a Future Generali Life Insurance policy are given below:

• Recent passport-sized photograph.
• Proof of identity: Any one of the below mentioned documents are to be submitted towards proof of identity.
  • Voter’s identity card.
  • Driving licence.
  • Passport.
  • PAN card.
  • Job card issued by NREGA, signed by a State Government officer.
  • Aadhaar card.
• Proof of residence: Any one of the below mentioned documents are to be submitted towards proof of residence.

• Bank account or post office account statement.
• Property tax or municipal tax receipt.
• Utility bills (electricity, gas, telephone) not more than 2 months old.
• Letter of allotment or accommodation from State or Central government, financial institutions or listed companies.
• Rent agreement.

Checking Future Generali Policy Status:

Policyholders can check the status of their life insurance policies without needing to visit a branch office thanks to the online policy status check facility.

Policyholders can also check the status of their policies offline through a variety of ways if they desire.

Checking Future Generali Policy Status Online:

Policyholders who wish to check their policy status online can do so wherever they are, whenever they wish to by visiting the Future Generali Life Insurance website. The detailed procedure is given below:

• Go to the Future Generali Life Insurance website and log in or follow the steps on screen to set up an account.
• Once signed in, view the status of existing policies by selecting the relevant option from the drop down menus.

Checking Future Generali Policy Status Offline:

Policyholders who wish to check their policy status offline can do so through a variety of ways, such as by calling the customer care helpline. Policyholders will have to provide certain details for identification purposes like their date of birth and policy number.

Policyholders can also visit a Future Generali Life Insurance branch to get details regarding the status of their life insurance policy.

Future Generali Life Insurance Online Payment:

Policyholders need not worry about missing a premium payment or having to go through the hassle of depositing a cheque to pay their premiums anymore, as they can make premium payments online.

Policyholders can simply log in to their account and make their premium payments any time before the due date from wherever they are. With the payments being online, the payment is instant, which would reduce the processing time in case of last-minute payments.

The process to pay premiums online is given below:

• Go to the Future Generali Life Insurance website and click on the ‘Pay Your Premium’ tab towards the right of the screen.
• Choose from the options provided by clicking on the ‘Quick Pay’ option.
• Enter the policy number whereupon the premium amount due will be displayed onscreen.
• After verifying the amount, choose a payment method from the ones listed- net banking, credit card or debit card.
• Authorise the payment and save a copy of the acknowledgement for future reference.

Future Generali Life Insurance Premium Calculator:

Individuals who are looking at buying a Future Generali Life Insurance can check the amount they would have to pay towards premium payments for a particular policy through the online premium calculator. The premium calculator, available on the company’s website, will compute the premium amount for any of the company’s existing plans based on certain information the individual provides such as age, gender, policy tenure, occupation, cover type etc.

This makes choosing a policy easier as individuals need not visit a branch and speak to an agent to ascertain the total premium amount they would have to pay over the policy term. Since life insurance policies are generally high premium ones, the amount would be a significant sum, and individuals will be able to budget and choose the policy accordingly.

The premium calculator can be found in the ‘Calculators’ tab on the Future Generali home page. Individuals can choose to compute either the ‘Human Life Value’ or the ‘Premium’ calculator.

They will have to choose a policy from the drop down menu and input details like their age, gender, occupation, marital status, policy tenure etc. after which the premium amount will be displayed onscreen.

Future Generali Life Insurance FAQ’s:

1. What are the modes of premium payment available with Future Generali Life Insurance?

A. Premiums for your life insurance policy with this company can be paid using auto debit facilities, cash payments, cheques, net banking and payments via phone.

2. What are the documents required to register a death claim?

A. If a death claim has to be registered, you will require the following documents:

Claim Forms:

Part 1: Application form for death claim.

Part 2: Physician’s statement.

Death certificate issued by a competent authority.

Cause of death certificate issued by the attending physician.

Attested copy of indoor case papers of the hospital.

If necessary, a post mortem (autopsy report) and chemical viscera report.

KYC documents of the claimant.

A cancelled cheque with the claimant’s name, or the claimant’s passbook.

Declaration from master policyholder on the letterhead of the master policyholder.

3. What are the documents required to register a claim for death due to accident?

A. In case of the death being the result of an accident, you will have to file an FIR and final investigation report from the police station and a proof of the accident, newspaper cutting, etc., if available. These documents will be submitted in addition to all other documents mentioned above.

4. When does a Future Generali Life Insurance policy lapse?

A. If premiums are not paid on time, the policy can lapse. The premiums under quarterly, half-yearly, and yearly payment modes must be paid within the extra 30-days grace period that’s given from the date the premiums are due. In the case of monthly premium paying modes, the grace period is 15 days, and the payment of outstanding premiums must be made within this time.

5. What is the process to set up the ECS facility?

A. In order to activate this facility, an ECS Mandate form must be duly filled up, signed, and submitted to Future Generali Life Insurance Co. along with a cancelled cheque.

6. What is the process of availing a loan against the policy?

A. Once your policy acquires surrender value, a loan can be taken against it. Different policies have different loan clauses, so it’s advisable to thoroughly go through your policy document and check what the case is for your individual policy.

7. Can the premium paying frequency be changed?

A. The premium paying frequency can be changed at any time by downloading, filling out, and submitting a Payment Frequency Change Form at the nearest branch office.

8. What is the claim settlement process?

A. To apply for a claim, the first step is to inform the company at 1800-102-2355. Once you submit the necessary documents, the company will settle the claim within 7 working days.

9. What is the process to renew a policy?

A. The policy can be renewed by making the payment of the premium via a cheque or online through the company’s website.

10. What are the documents required when filing a critical illness claim?

A. The following documents are to be submitted when filing a critical illness claim:

• Claim form.
• Original policy document.
• KYC details of the claimant (proof of address and identity).
• Hospital discharge certificate.
• Physician’s statement.
• Medical reports and documents confirming the infirmity/illness.

11. What is the free-look period for a Future Generali Life Insurance policy?

A. The free-look period for a Future Generali policy is an average of 15 days from the commencement of the policy.