Buying a health insurance policy and then the insurer not being able to settle your claims can be quite frustrating. Thus, to avoid such situations, it is important for you to always check the claim settlement ratio of your chosen company. The claim settlement ratio is one of the most useful parameters that showcases the number of claims settled by the company in a financial year. It is an important factor that helps you to evaluate how soon the company will settle the claims in the time of need. Before buying health insurance, one should always check the history of claims settled by that company.
Future Generali, a general insurance company is a joint venture between a leading Indian business conglomerate, the Future Group of Industries and the Generali group, one of the leading Italy based companies. The company started its operations in September 2007. Future Generali Claim Settlement Ratio plays an important part while choosing a health insurance company for coverage.
Insurance Regulatory and Development Authority of India (IRDAI) publishes the CSR of all the insurance companies in their annual reports through which one can easily check and compare the CSR of the preferred and all the other insurance companies.
As per IRDA Annual Report of 2021-22, the Future Generali claim settlement ratio is 96.01%. Which is considered more reliable and shows the ability of the company to settle claims for its customers.
In this section we will discuss the types of claims and process of filing the claims. There are two types of health insurance claims you can choose from:
Cashless claims in health insurance is a mode of claim settlement where the policy holder does not have to pay cash for treatment and the settlement of the bills is taken care of directly between the hospital and the insurance company. Future Generali cashless claim settlement helps in paying off the hospital bill instantly, upfront. Cashless claims are gaining popularity every day, and more and more people getting health insurance policies are availing this feature for the comfort it offers.
Step 1: Find the network hospitals of Future Generali Health Insurance and get admitted to only those hospitals that fall into the network of your insurer
Step 2: Now, notify Future Generali Health Insurance Company about the hospitalization. In case of pre hospitalization inform the insurer about the hospitalization prior to getting admitted.
Step 3: The customer needs to fill the pre-authorization form and submit it to the hospital. The pre-authorization form is then sent for approval to Future Generali Health Insurance Company. Once the form is approved, the customer can avail the medical treatment.
Step 4: At the time of discharge fill in all the medical documents and pay for the services that are not covered under the policy.
Step 5: The hospital will send the hospital bills to Future Generali Health Insurance Company. After review the company will pay the bill directly to the hospital.
Future Generali has a simple, app-based claim process to make your experience hassle-free. You can contact the company for a claim, submit your documents, and check your claim status easily on their ‘FG Insure’ app.
|Financial Year 2021-22|
|Age Analysis of Number of Claims Paid (%)||< 3 months||3 months to 6 months||6 months to <1 year||1 year to <3 year||3 years to <5 years||5 years|
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In this type of claim, you can visit any hospital, not just those under your insurer’s cashless network. Here, you get your treatment done at the hospital, pay out of your pocket, and then apply for a reimbursement for the expenses with your insurer. At the time of making the claim, the customer needs to submit all hospital bills, prescriptions, and medical documents. These will need to be approved by Future Generali Health Insurance Company before the claim is processed, meaning that it can take slightly more time to get through.
Step 1: You need to call Future Generali Health Insurance within two days of your admission date. Post company’s call, they send you a link where you can upload the soft copies of all original documents (bills, reports, etc) and bank details of your desired bank account.
Step 2: Before uploading, you need to sign all the documents yourself.
Step 3: Upload the documents maximum within 30 days from the date of discharge or when you receive the link.
Step 4:You will receive the payment within 30 days from the receipt of the last necessary claim document.
Future Generali Health Insurance provides a 15-day grace period for reimbursement claims. If the documents have not reached the company post this grace period due to an inadvertent delay, you can contact the company with the explanation for the same and resend/re-upload the documents.
With the benefit of cashless facility, you do not need to spend money on your treatment, as all expenses will be paid by the insurer itself. Future Generali has tie-up with more than 6300+ hospitals, which are known as You can go to a network hospital, get your treatment done and the insurer will settle the bill directly at the hospital.
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To simply put, regardless of whether an individual buys a term insurance plan or a life insurance plan, etc. claim settlement ratio of the insurance company is important. Besides, the consistency of the claim settlement ratio holds utmost significant importance. While selecting the insurance company, it is advisable to look for the claim settlement ratio of the companies in the recent five years.No wonder the rule is simple: smaller is the range of the CSR, reliable and better is the insurance company. For instance, the insurance company with a ratio in the range of 90% to 96% is more reliable compared to a company with the CSR in the range of 75% to 93%.
Future Generali Health Insurance offers various health products to cater to the healthcare needs of every individual. At present, Future Generali has come up with 13 health insurance plans. Have a look at the table below to get an insight into the types of plans offered.
The plan acts as a top-up to your existing health insurance cover & supplements your existing health insurance when your basic health insurance cover is exhausted.
An affordable health plan that covers individual and their families.
A health insurance plan that offers standard benefits as directed by the IRDAI. The plan offers coverage up to INR 10 Lakhs.
A specialized cover designed to offer protection against 12 listed critical illnesses such as cancer, kidney failure, severe heart attack, total blindness and many more.
Health Super Saver comes with 2 plan options offering a 80% discount under the Super Saver Discount option**.
From simple daycare treatment to major operations, the plan comes out with various benefits to deal with the multiple needs of the policyholder.
Provides a lump sum benefit in the case the policyholder is diagnosed with Malaria, Dengue, Lymphatic Filariasis, Kala-azar etc.
A comprehensive health insurance plan that provides coverage against medical expenses. Moreover, the plan also looks after your overall well-being.
A health insurance plan which provides for medical bills during hospitalization.
The plan comes with 13 add-on covers and provides coverage against accidents.
Designed for loan borrowers & offers protection against the difficulties one may face during loan repayment due to accident, or in case of critical illness.
Specially designed for senior citizens and is available on an individual and family floater basis which includes the insured and their spouse. SI goes up to 10 lacs.
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To enjoy the benefits of the insurance policy and not face a claim rejection, the policyholder should take some important steps. The following are the steps that should be followed to avoid claim rejection:
The loss of the breadwinner of the family causes severe emotional and financial turmoil. However, a Future Generali Insurance Plan can reduce your worries and burden. While there are so many things to consider when buying a life insurance policy, the claim settlement ratio of the insurance company should be one of the key factors amongst them.
Read what our customers have to say about Future Generali health insurance company
May 31, 2022
One of the best health insurance companies available in India. In March 2021, my wife was diagnosed with Covid-19, and the company settled all my claims. Thank you Future Generali for helping a...
March 14, 2022
my father is a single parent. The way he has taken care of me during my childhood, I wanted to support him after my marriage so that he is never alone, especially during medical emergencies. I ...
October 12, 2021
It has been an honour being with Furture generali for almost 10 years now...never goes back on their words. You can trust them to settle claims when in need
October 12, 2021
Very amazing plans and helpful customer care service offered by Future Generali Insurance. I am impressed by the way this company works.
August 31, 2021
got recommended this company by a friend. Very pleased to have associated with them. Got my bills settled quickly after my husband was hospitalzed recently! Thanks a bunch
August 11, 2021
Best company with best services. Also, the team of policyx helped me very much. I will definitily tell my friends to buy this company policy
August 11, 2021
One of the best health insurance company, that truly looks after its customer s needs. I am glad that I decided to buy this company s health insurance.
May 20, 2021
Very Good and trustworthy company. Got my claims settled in no time. Thankyou for looking after mine and my family s healthcare needs.
Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.