• Future Generali Term Insurance

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Future Generali Term Insurance offers you the chance to protect your family from financial woes in your absence, providing them the ability to lead their lives, without worry about finance and making any compromises. With Future Generali Term Insurance, you have 2 different term plans available. One plan, that is available online, and the other is available through other channels.

    Types of Future Generali Term Insurance Plans:

    1. Future Generali Flexi Online Term Plan
    2. Future Generali Care Plus

    Future Generali Flexi Online Term Plan: With this plan, you can take care of your family even in your absence, and not let them make any compromises in their lifestyle. You can get the basic sum assured, income protection, and have the choice to create a plan best suited for you and your family. Filling out an application form is all it takes, and you can do this in the comfort of your home.

    Future Generali Care Plus: This is basic term plan, that will provide your nominee, in the event of your unfortunate death the sum assured. Since it’s a pure term plan there is no survival or maturity benefit. The plan can be purchased from agents, brokers, banks, etc.

    Particulars

    Flexi Online Term Plan

    Care Plus

    Entry age

    Basic cover - 18 years

    Income protection - 25 years

    18 years

    Maximum age

    56 years

    60 years

    Maturity age

    Minimum:

    Basic cover - 28 years

    Income protection - 45 years

    Maximum:

    65 years

    Non-smokers: 75 years

    65 years

    Policy term

    Minimum entry age

    10 years

    Basic cover and Income protection options

    Maximum entry age

    Basic cover:

    Smoker - 65 years Non-smoker - 75 years

    Income protection: 65 years

    Minimum: 5 years

    Maximum: 30 years

    Sum Assured

    Minimum: Rs.50 lakhs

    Maximum: No limit

    Minimum:

    Classic – Rs.10 lakhs

    Premier – Rs.25 lakhs

    Maximum

    Classic – Rs.24, 99, 999

    Premier – No limit

    Premium payment mode

    Annually

    Annually, semi-annually, or monthly

    Term of payment

    Same as policy term

    Same as policy term

    The key features and benefits of the Flexi Online Term Plan:

    1. This is a plan which can be bought online.

    2. The policy provides you, and your family with basic life cover, income protection wherein a monthly income will be paid to your nominee, for a maximum period of 10 years.

    3. With this policy, you have the option to choose and create your own customized plan, under the My Protection Plan option. You can choose between, the Fixed Income Protection + Basic Life Cover or Increasing Income Protection + Basic Life Cover

    4. Premium payments for this policy, will be will need to be made, throughout the term of the policy.

    5. The policy provides life cover up to the age of 75 years.

    6. Under this policy, policyholders will be given discounts for higher sum assured.

    7. Women will also enjoy lower premium rates when they apply for this plan.

    8. You have the option to cancel the policy within 30 days’ time, if you disagree with any of the terms and conditions.

    9. Enjoy the benefit of a 30 day grace period, when it comes to your premium payments for this policy.

    10. All premiums paid, will get a tax benefit under Section 80C of the Income Tax Act 1961.

    The key features and benefits of the Care Plus Plan:

    1. Under the Care Plus plan, you can choose from two types of plans, Classic and Premier. These types will be based on the level of sum assured chosen by you. The Classic option sum assured is to a maximum of Rs.24, 99, 999, while the Premier option can be Rs.25 lakhs and above.

    2. All premium payment for this policy, need to be paid for the entire duration of the policy.

    3. If you choose a sum assured of Rs.15 lakhs and above, you will enjoy discounted rates of premium.

    4. Any premiums payment towards this plan, will get tax benefits under Section 80C of the Income Tax Act 1961.

    5. You can also enhance your protection plan, by adding riders to it. The rider available for you to add, to this plan will be the Future Generali Non-Linked Accidental Death Rider.

    6. If during the tenure of the policy, the insured dies, the death benefit will be paid to his nominee. The sum payable will be the higher of either, 10 times the annual premium or the sum assured chosen, or 105% of all premiums paid until his/her unfortunate death.

    How do these plans work?

    Flexi Online Term Plan:

    Option: Basic Life Cover:

    Richard a healthy, non-smoker, 35 years of age has just purchased this plan. He has chosen a life cover of Rs.1 crore, for a policy term of 30 years. Richard will pay a premium of Rs.9, 263 (not including any taxes or cess) annually, on his death, his nominee will be paid the sum assured amount of Rs.1 crore, as a lump sum amount.

    Option: Fixed Income Protection Cover:

    We’ll use the same example, Richard a healthy, non-smoker, aged 35, and buys the Flexi Online Term Plan for a period of 30 years. He has chosen the option of Fixed Income Protection Cover. Wherein, he has chosen a payout option for his nominee. Due to this option, the nominee will receive an amount of Rs.50,000 on a monthly basis, after his death, for a maximum of 120 months from the date of death. The nominee will also have the option, to take all instalments at one go. All the monthly payments will be discounted at a rate 6.5% per annum. If the monthly payments have already started with payouts, then the nominee will not be able to take all instalments as a lump sum.

    Option: Increasing Income Protection Cover:

    Say hi to Richard again, a non-smoker, aged 35, healthy male, who buys the Online Term Plan for a 30 year period. Choosing the option of Increasing Income Protection Cover. He has chosen an amount of Rs.50,000 to be paid to his nominee on a monthly basis, after his death. Say that Richard dies in the 7th year of the policy, after paying the 7th premium. His nominee will receive an amount of Rs.80,000. The monthly payout will increase by 10% on a simple interest basis, since Richard has chosen the Increasing Income Protection Cover. These payments will be made for a maximum of 120 months from the date of death of the insured or till Richard turned 60 years of age. The nominee has option to take all instalments as a lump sum payment as well. Monthly payments will be discounted at 6.5% per annum. But, if the payment of monthly payments has begun, then the nominee can’t take all instalments as a lump sum.

    Option: My Protection Plan:

    Let’s take Richard again, 35 years, a non-smoking, healthy male, who takes up the Online Term Plan for a 30 years. Choosing the option My Protection Plan. Richard dies during the 7th year of the policy, after he has paid the 7th premium. Now, his nominee will receive the basic sum assured of Rs.1 crore after his death and will receive an amount Rs.80,000 per month. Which will increase at a simple rate of 10% per annum. The monthly payments will be made, for a period of 120 months from the date of death or till Richard turned 60 years of age. The nominee will also have the option to take a lump sum payment of all instalments. These payments will get discounted at a compounded rate of 6.5% per annum. If the nominee has started to receive monthly payments, then he/she will not be able to take a lump sum payment.

    Care Plus Plan:

    This is the simplest form of life insurance. You will get protection under this at very affordable premiums. All you need to do is, choose the sum assured, and option associated with it, either Classic or Premier (this will be based on the sum assured chosen by you). After this, you need to choose the policy term and the mode with which you will make the premium payments. Once you have provided these details, you will receive a standard quote for premiums payable. Choose one that suit your requirements and finances, fill in the application and make the premium payment.

    Future Generali Term Plan FAQs:

    1. Q. Are non-smokers given any premium benefits under both plans?

    1. Yes, non-smokers will enjoy premium discounts under both these plans.

    2.Q. What if I don’t agree with the terms and conditions of the policy?

    1. Not a problem, the company will provide you with a free-look period of 15 days for the Care Plus Plan (30 days if the plan is purchased through distance marketing), and 30 days for the Flexi Online Term Plan under which you can terminate the policy if you don’t agree with any terms and conditions . The premiums paid, will be refunded after deductions of stamp duty charges, costs of medical examination, proportionate risk cover, etc.

    3. Q. What if I am unable to make my premium payments on time? What will happen to the policy?

    1. Both plans, Flexi Online Term Plan and Care Plus Plan have a grace period of 30 days within which you can make your premium payments. Even during these 30 days, you will be entitled to the benefits of the policy, if payment has not been made, within the 30 days grace period the policy will lapse.

    Other Products from Future Generali

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

    Future Generali Term Insurance Reviews

  • Page 1 of 1
    • Future Generali Life Life Insurance
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I've bought two policies from Future Generali. I pay a premium of 12000 year. This was also suggested by one of my colleague. I never had any issues with their services. Overall it has been a good experience.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 07, 2018
    • Future Generali Life Life Insurance
      "The Service needs Improvements"
      0.5 4.0/5 "Great!"
      I've a life insurance policy from the Future Genrali Insurance compay. Their Customer support needs to be improved. The way they respond to the quries of the customers should also be improved. They need to provide their customers with quality customer support.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 05, 2018
    • Future Generali Life Life Insurance
      "Average Policy"
      0.5 3.0/5 "Satisfactory"
      I have a life insurance with Future Generali from last 1 year and it is a long term policy. I am happy with the coverage and returns of this insurance policy. I pay my premium once in a year through net banking. The tenure of this insurance policy is 12 years.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Apr 24, 2018
    • Future Generali Life Life Insurance
      "Good policy to hold"
      0.5 4.0/5 "Great!"
      I took accidental cover from Future Generali, they are providing all the benefits and the product is good. For normal accident also I can claim from them. Yearly I make the premium around Rs. 2900 for the tenure of one year. Total sum assured value of Rs. 15 lakhs. For disability they provides good coverage.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 21, 2018
    • Future Generali Life Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      For more than 6years I got the Life insurance policy with future general life insurance company.This policy has the tenure of 10years. I pay the premium of Rs,24000 every year. The plan benefits and the coverage is good with this policy and I am satisfied with it.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 30, 2017
    • Future Generali Life Life Insurance
      "Good insurance company"
      0.5 3.5/5 "Pretty good"
      I do have life insurance policy with the Future generali life insurance company. Coverage value is good one like its around 50 lakh Rupees and the premium is not at all the comparable one. Claim ratio is the way to choose the policy rather than he premium like Future generali do have a good claims ratio.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 22, 2017
    • Future Generali Life Life Insurance
      "Flexi Online Term Plan - most competitive term plan"
      0.5 5.0/5 "Blown Away!"
      It's just the perfect solution for my need &&the flexibility of tailor making the solution/ payout options at the most competitive pricing. The entire application process didn't take more than 5 minutes and my policy got issued within 5 days
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 28, 2016
    • Future Generali Life Life Insurance
      "Cheapest term insurance with fantastic income option"
      0.5 5.0/5 "Blown Away!"
      I think the monthly income protection option is very good. It works just like salary protection, if something were to happen to me , my family would get a income till my retirement age or 10 years whichever is higher. Ensuring that my family is always protected.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 27, 2016
    • Future Generali Life Life Insurance
      "Best one"
      0.5 4.5/5 "Excellent!"
      "Future Generali life insurance is good this would best suitable for monthly income. anyone who is looking out for a cheaper plan can go ahead with this. Its less than rs15 per day . Actually I was looking out for a term plan I was looking out for a 50laksh I found this policy very attractive. They took medical test and they took my id proof and others to process my request. "
      Was this review helpful? 2
      , dehradun
      Reviewed on Apr 15, 2016
    • Future Generali Life Life Insurance
      "Good"
      0.5 5.0/5 "Blown Away!"
      My life insurance is taken from future generali for the tenure of 15 year. The only for 10 years. After completing the maturity period will get the amount. Policy coverage offered is four lakhs . Accidental and natural death coverage is for five lakhs. Payment is done through online.
      Was this review helpful? 1
      , bangalore
      Reviewed on Apr 15, 2016
    • Future Generali Life Life Insurance
      "Very good "
      0.5 4.0/5 "Great!"
      They are collecting the annual premium for the Insurance.They have explained the plan benefits as well.I have taken a 15years plan with future generali.Its basically a life coverage plan and the options given for the payment is good with Future generali.
      Was this review helpful? 0
      , pune
      Reviewed on Apr 13, 2016
    • Future Generali Life Life Insurance
      "Beware of fradulants "
      0.5 1.0/5 "Really Bad"
      The service provided was not good with future generali related to the life Insurance.They have sell the product to the customer with the false commitment in the Insurance provided by them.It will be good if they stop providing false commitments
      Was this review helpful? 1
      , new delhi
      Reviewed on Apr 02, 2016
    • Future Generali Life Life Insurance
      "No reply for emails "
      0.5 0.5/5 "Unacceptable"
      I requested to convert my existing policy to Paid up policy as i would not be able to pay the premium due to money issue. I have paid the premium till 5 years and do not want this money to be lapsed ,hence requested to convert it to permanent paid up . As advised by your customer care executive sunny sharma i have send email as i cannot visit the branch manually . i have send many email but even after 6 days there was no response i have escalated to gro also still there was no response . Policy number :-00791301 'FutGen=475-486' .
      Was this review helpful? 0
      , mumbai
      Reviewed on Mar 21, 2016
    • Future Generali Life Life Insurance
      "Good Services"
      0.5 5.0/5 "Blown Away!"
      Future Generali is good in their services. I get email alerts for the payments. I have taken a cash back policy from them. The premium is of 10K. I can make my payments online or through cash. They have good benefits and a policy coverage. Overall I have not faced any hassles till date.
      Was this review helpful? 1
      , faridabad
      Reviewed on Mar 19, 2016
    • Future Generali Life Life Insurance
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have taken my life insurance with Future Generali. The services are good from them. They send me updates. The plan benefits are good. The policy coverage is good too. The tenure is for 30 years. It is a term policy. The premium is of 50K.
      Was this review helpful? 1
      , faridabad
      Reviewed on Mar 19, 2016
    • Future Generali Life Life Insurance
      "Not good.."
      0.5 2.0/5 "Expected more"
      No good experience as I registered for mobile and address change but nothing happened til now from the Future Generali life insurance company. No online options as for each and everything we have to go to the branch. They don't have good customer support as all the times they make customer to wait.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Mar 12, 2016
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