Future Generali life Insurance
Started its operation in 2007, Future Generali India Life Insurance (FGII) Company Limited is a joint venture between three leading groups; the Future Group, Assicurazioni Generali, and Industrial Investment Trust Limited (IITL). It is a global insurance group that is recognized among the top 50 largest companies in the world. The company aims to become the most preferred choice of customers.
Future Generali offers a series of solutions such as term, ULIPs, Child, health, saving, retirement, and group insurance plans. The company has 1100 self and partnered branches across India, that ensures all your policy related queries are resolved on time.
Recently the company was rewared with Golden Peacock National Training Award 2020. Future Generali Life Insurance ensures to look after every single need of an individual and allows them to make their present & future secure. Continue reading to explore more about Future Generali Life Insurance company.
Future Generali life Insurance Awards and Recognitions
- Golden Peacock National Training Award 2020
- Chief Strategy Officer Summit & Awards 2020
- Best Use of Video Content Award in 2018
- Global Business CIO Awards, 2018
- Global Enterprise Architecture Excellence 2018
- IT Innovation and Excellence Award 2018
What are the Key Features of Future Generali Life Insurance Company?
With the availability of several insurance plans in the market, selecting the right plan that suits your needs is a quite difficult task. One should always be aware of the key features of a chosen insurance company before buying a life insurance plan for your family.
In the below section we have evaluated Future Generali India Life Insurance Company Limited. on the factors such as Annual Premium, Claim Settlement Ratio, Solvency Ratio, etc. These factors will assist you to make an informed decision and will help you to choose a Future Generali Life Insurance company.
Take a look at the key features of Future Generali Insurance Company:
1 Future Generali life Insurance Annual premium
Future Generali has witnessed significant growth in its annual premium over the last financial years. As per IRDAI Annual Reports for FY 2020-21, the annual premium of Future generali India Life Insurance Company Limited stood at INR 1,322.19Cr.
2 Future Generali life Insurance Solvency Ratio
The solvency ratio measures the ability of a company to meet its long-term debt obligations and provides information about the financial background of the company and other monetary commitments. IRDAI has mandated to have a healthy solvency ratio of 1.5 for every insurer. As per IRDAI Annual Report 2020-21, the solvency ratio of Future Generali is 1.72
Here is a quick look at the graph below for a better understanding.
Solvency Ratio of Future Generali Life Insurance Company for FY 2020-21
*Data from IRDAI Annual Reports
3 Future Generali life Insurance Claim Settlement Ratio
Claim Settlement Ratio is a measure that is used to rate compare life insurance companies in the form of a percentage. It represents the number of settled claims against the total number of insurance claims registered in a year. The higher the CSR, the greater the chances of hassle-free claim settlement on your claims.
As per the IRDAI Annual Reports, 2020-21, the claim settlement ratio of Future Generali Life Insurance is 98.48%.
Claim Settlement Ratio Of Future Generali Life Insurance
*Data from IRDAI Annual Reports
4 Future Generali life Insurance Operating Network
With Operations and services spread across 1100 branches, Future Generali aims to become the first choice of buyers. The company delivers relevant and attractive insurance products at affordable premium rates.
What Are The Different Plans Offered By Future Generali Life Insurance?
To cater to your every single insurance need, Future Generali Life Insurance offers a wide range of Insurance products. In the table mentioned below, we have mentioned all the plans offered by Future Generali India Life Insurance Company:
|Product Categories||Names of Plans|
|Term Insurance Plans||Future Generali Flexi Online Term Plan |
Future Generali Care Plan
Future Generali Jan Suraksha
Future Generali Express Term Life Plan
Future Generali Saral Jeevan Bima
|ULIP Plans||Future Generali Big Dream Plan |
Future Generali Dhan Vridhi Plan
Future Generali Bima Advantage Plan
Future Generali Easy Invest Online Plan
Future Generali Wealth Protect Plan
|Child Plan||Future Generali Assured Education Plan|
|Retirement Plan||Future Generali Immediate Annuity Plan|
|Combo Plans||Future Generali Assured Advantage Solution |
Future Generali Guaranteed Income Solution
|i) Traditional Plans||Future Generali Triple Anand Advantage |
Future Generali New Assure Plus
Future Generali Lifetime Partner Plan
|ii) Guaranteed Plans||Future Generali Money-Back Super plan (Non-POS variant) |
Future Generali New Assured Wealth Plan
Future Generali Jan Suraksha Plus
Future Generali Assured Income Plan
Future Generali Assured Education Plan
Future Generali Money-Back Super Plan (POS Variant)
Future Generali Future Generali Term with Return of Premium
Future Generali Big Income Multiplier
Future Generali Assured Money Back Plan
Future Generali Assured Health Plan
|Group Plans||Future Generali Sampoorn Loan Suraksha |
Future Generali Group Superannuation Plan
Future Generali Group Leave Encashment Plan
Future Generali Group Gratuity Plan
Future Generali Group Term Life Insurance Plan
Future Generali Loan Suraksha
Future Generali Comprehensive Employee Benefits Plan
Why Should you choose Future Generali India life insurance?
- Savings & Wealth Creation: Future Generali ULIP plans allow you to earn additional income through successful investments and help to create wealth in a disciplined manner. All products are referred to as the great saving tool along with the benefit of life cover for the entire family.
- Income Tax Benefits: Under Section 80C of the Income Tax Act, you will be liable to avail income tax benefits for Future Generali life insurance plans. One can avail up to Rs. 1,50,000 deductions on premium payments for these plans. Also, death and maturity benefits of the savings plan are exempted from tax under Section 10D.
Claim Process of Future Generali Life Insurance
The nominee or claimant is required to Inform the company about the incident.
The claim officer will proceed with the claim settlement process. The evaluation will take place from the insurer's end and they might contact the nominee/claimant for further verification. This will be intimated via SMS or letter.
On receipt of all the necessary documents and verification results, they will make the final decision of acceptance/rejection of the claim. The same will be communicated to the nominee/claimant. If the claim gets accepted, the claim amount will be transferred to the registered bank account within 10 working days.
Documents Required To File A Claim
The following documents along with the claim form needs to be submitted by the nominee/claimant:
Death certificate of the policyholder
Original policy documents
Photocopy of passbook, bank statement, or cancelled cheque
Birth certificate of the policyholder
Photo ID of the policyholder and claimant like Aadhar card, PAN card, Voter ID, Passport, etc
Proof of the relationship between the claimant and the policyholder