Future Generali Life Insurance
Future Generali Life Insurance
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Future Generali Life Insurance

Future Generali India Insurance (FGII) Company Limited was established in the year 2007. The company is a joint venture between three leading groups; the Future Group, Assicurazioni Generali and Industrial Investment Trust Limited (IITL). It is also considered as a global insurance group that features among the top 50 largest companies in the world. With operations around the country, the company's motive is to become the most preferred choice by the consumers. Future Generali stands as a strong and trusted establishment with the provision of a broad series of solutions, which includes term, ULIPs, child insurance, health, savings, retirement and group insurance plans.

Highlights

Claim Settlement Ratio95.28%
No. of Locations in India136
No. of Lives Covered1.2 Crores+

**Last Updated on 05-11-2020

Future Generali Life Insurance Plans

1. Future Generali Term Plans

Term insurance plans offer complete protection and financial security to the dependents in case of any unforeseen circumstances with the policyholder. Let's discuss the different Future Generali term plans below:

i) Future Generali Flexi Online Term Plan

Future Generali Flexi Online Term Plan is a non-linked and non-participating pure risk premium life insurance plan, which provides life cover up to 75 years. The plan also allows the policyholder to choose the preferred coverage option (as per their needs and requirements).

Eligibility Criteria

Basic Life CoverIncome Protection
Entry Age (as on last birthday)18 - 55 years25 - 55 years
Maximum Maturity AgeSmoker: 65 years
Non – Smoker: 75 years
65 years
Premium Payment TermEqual to the Policy Term for all options
Premium Payment FrequencyAnnual and Monthly

**Last Updated on 05-11-2020

ii) Future Generali Care Plus

Future Generali Care Plus offers an excellent option to protect (financially) your family against the liabilities and loans taken by the policyholder. It provides high life coverage at very nominal prices.

Eligibility Criteria

Age at EntryMinimum: 18 years
Maximum: 65 years
Maximum Coverage Age85 years
Policy TermMinimum: 5 years to 85 years
Max Policy Term: (85 - min. age at entry) = 67 yrs.

**Last Updated on 05-11-2020

iii) Future Generali Jan Suraksha

Future Generali Jan Suraksha is a non-participating insurance plan that offers life insurance coverage in a single premium payment (at low costs). It helps the family of the life assured to deal with the liabilities in case of his/her unfortunate death.

Eligibility Criteria

Age at EntryMinimum: 18 years
Maximum: 50 years
Premium OptionsEntry age between:
i) 18 to 45 years - Rs. 500/Rs. 750
ii) 46 to 50 years - Rs. 750
Premium Payment Term (years)Single Pay
Policy Term8 years

**Last Updated on 05-11-2020

iv) Future Generali Express Term Insurance Plan

Future Generali Express Term Insurance Plan is a long-term protection plan that provides comprehensive care to you and your family. It waives off all the future premium payments in case of Accidental Total and Permanent Disability (ATPD). An additional lump sum payout is offered by the plan if the policyholder is diagnosed with any one of the listed 34 critical illnesses.

Eligibility Criteria

Age at EntryMinimum: 18 years
Maximum: 65 years
Maturity Age85 years
Minimum Sum AssuredRs. 25 lakhs
Premium Payment Term (years)Monthly/quarterly/half-yearly/annually
Critical Illness Sum AssuredMinimum: Rs. 5 Lakhs
Maximum: 50% of Sum Assured or Rs. 1 Crore, whichever is lower (Subject to Underwriting Policy of the Company)

**Last Updated on 05-11-2020

2. Future Generali ULIP Plans

Unit-linked Insurance Plans are a means of investment that helps in savings along with the protection of life insurance cover. Several investment opportunities such as fixed-income securities, equities and liquid investments are offered by ULIPs to earn market-linked returns.

Here's a variety of Future Generali ULIP Plans:

i) Future Generali Big Dreams Plan

Future Generali Big Dreams Plan helps in securing your family's future from uncertain eventualities of life. It also assists in boosting your returns from 1% to 7% on payment of every premium instalment. You can grow your wealth faster as the plan offers zero allocation and administration charges.

Eligibility Criteria

Age at EntryMinimum: 0 years
Maximum: 55 years
Maturity Age100 years
Minimum Annualized Premium AmountRs. 18,000
Premium Payment FrequencySingle Pay, yearly, half-yearly, quarterly and monthly
Policy Term (years)5 to 20

The values may change as per the chosen plan option

**Last Updated on 05-11-2020

ii) Future Generali Easy Invest Online Plan

Future Generali Easy Invest Online Plan promotes wealth creation together with the advantage of life insurance coverage. It offers flexibility to the life assured to fulfil unexpected expenses by allowing partial withdrawals. The plan is ideal for those who are looking for a tax saving systematic investment solution, which also helps them to get market linked returns along with benefits of insurance.

Eligibility Criteria

Entry Age (as on last birthday)Minimum: 0 years
Maximum: 60 years
Maturity AgeMinimum: 18 years
Maximum: 70 years
Premium to be paidMinimum: Annual Mode - 40,000, Monthly Mode - 4,000
Maximum: No Limit
Policy Term10 to 20 years
Sum AssuredSum Assured = 10 x Annual Premium

**Last Updated on 05-11-2020

iii) Future Generali Dhan Vridhi Plan

Future Generali Dhan Vridhi Plan is an individual non-participating limited premium payment life insurance plan. The plan offers the choice of 7 investment funds to manage risk tolerance. It allows the policyholder to maximize funds by providing the facility to switch between funds.

Eligibility Criteria

Minimum/ Maximum Age at EntryFor PPT of 5 years = 8 to 50 years (as on last birthday)
Other PPTs = 8 to 60 years (as on last birthday)(PPT is Premium Paying Term)
Minimum/ Maximum Age at Maturity18 to 70 years (as on last birthday)
Premium Payment FrequencyYearly, Half Yearly, Quarterly and Monthly
Sum AssuredAge < 45 years: 10 x Annualised Premium
Age >= 45 years: 7 x Annualised Premium

**Last Updated on 05-11-2020

iv) Future Generali Wealth Protect Plan

Future Generali Wealth Protect Plan offers comprehensive protection along with the freedom to choose the type of investment to create wealth as per your requirements. It offers guaranteed loyalty additions based on first-year paid premium. The plan also provides access to partial withdrawals and fund switches.

Eligibility Criteria

Age at EntryMinimum: 7 years
Maximum: 60 years
Maximum Age at Maturity75 years
Premium Payment ModesYearly, half-yearly, quarterly and monthly
Policy Term (years)15 to 40
Premium Paying TermEqual to the Policy Term

**Last Updated on 05-11-2020

v) Future Generali Bima Advantage Plus Plan

Future Generali Bima Advantage Plus Plan is a unique blend of investment and protection that helps to meet long-term financial goals. It allows the life assured to choose the sum assured and policy term in addition to features like redirection, switching, partial withdrawals, etc.

Eligibility Criteria

Age at EntryMinimum: 7 years
Maximum: 65 years
Maximum Age at Maturity75 years
Minimum Sum AssuredAge < 45 yrs: 10 x Annualised Premium
Age >= 45 yrs: 7 x Annualised Premium
Policy Term (years)10 to 30
Premium Payment Term (years)Same as Policy Term

**Last Updated on 05-11-2020

3. Future Generali Health Plans

Health insurance plans by Future Generali offer coverage against the most life-threatening ailments like cancer and heart diseases. It provides coverage to the costs of medical/treatment expenses (before and after hospitalisation). Let's look at the following health plans by Future Generali Life Insurance:

i) Future Generali Cancer Protect Plan

Future Generali Cancer Protect Plan safeguards you or any of your family members (financially) against the risk of cancer and its related complications. On diagnosis of cancer in the minor stage, 25% of the sum assured is paid as a lump sum, whereas the entire sum assured is paid at a major stage.

Eligibility Criteria

Age at EntryFor Adults:
Minimum: 18 years
Maximum: 65 years
For Children:
Minimum: 1 year
Maximum: 17 years
Sum AssuredFor Adults - Rs.10 lakhs, Rs.20 lakhs, Rs.30 lakhs and Rs.40 lakh
For children - Rs.10 lakhs
Premium Payment ModeRegular Premium – Annual and Monthly
Single Premium – One-time payment

**Last Updated on 05-11-2020

ii) Future Heart and Health Plan

Future Heart and Health Plan provides comprehensive care against 59 listed critical illnesses and surgeries for heart and its related diseases. It also offers security against the medical expenses for treatment of cancer ailments at all stages. There is a provision of the inbuilt death benefit, i.e. the death benefit will be applicable from Day 1 of the initiation of the policy without any waiting period.

Eligibility Criteria

Product OptionsOption 1 - Heart Cover
Option 2 - Critical Illness Cover
Option 3 - Heart Cover with Return of Premium
Option 4 - Critical Illness Cover with Return of Premium
Age at Entry (last birthday)Minimum: 18 years
Maximum: 65 years
Age at Maturity75 years
Maximum Sum AssuredRs. 50 lakhs
Premium Payment ModesYearly, half-yearly, quarterly and monthly

**Last Updated on 05-11-2020

4. Future Generali Child Plan

Future Generali Child Plan has been launched to provide security to your child's future. It emerges with great features that ensure availability of funds even after the death of the parent. The maturity benefits can be either claimed as a lump sum payout or money back payout (depending on the requirements of the policyholder).

Let us look at the following child plan offered by Future Generali Life Insurance

i) Future Generali Assured Education Plan

Future Generali Assured Education Plan is designed to offer security for your child. It facilitates savings for graduation and higher studies in a disciplined manner until the child turns 17 years of age. The plan ensures guaranteed payouts as per your child's milestones to receive funds when needed. This plan also comes under the guaranteed income saving category of Future Generali Life Insurance Plans

Eligibility Criteria

Age at Entry (last birthday)For Parent: Minimum: 21 years, Maximum: 50 years
For Child: Minimum: 0 years, Maximum: 10 years
Age at MaturityMinimum: 35 years
Maximum: 67 years
Payable PremiumMinimum Premium: Rs. 20,000 Annually or Rs. 2,000 Monthly,
Maximum Premium: No Limit
Premium Payment FrequencyYearly and monthly
Premium Payment TermSame as the policy term

**Last Updated on 05-11-2020

5. Future Generali Retirement Plan

With the Future Generali Retirement Plan, the policyholder can enjoy financial independence post-retirement. It is liable to pay regular pension and guaranteed benefits in addition to life insurance coverage.

Future Generali offers the following retirement plan to its customers

i) Future Generali Immediate Annuity Plan

Future Generali Immediate Annuity Plan enables you to receive a fixed income for the entire life. The annuity amount is paid through a means of annuity card to the policyholder. It also provides flexibility to choose between two annuity options and annuity mode as per convenience.

Eligibility Criteria

Age at Entry (last birthday)Minimum: 40 years
Maximum: 80 years
Minimum Purchase PriceRs. 30,000
Annuity ModeYearly and monthly

**Last Updated on 05-11-2020

6. Future Generali Savings Plans

Future Generali savings plans consist of two sub-categories, viz., traditional plans and guaranteed plans. These plans offer more than one benefit in a single plan like fixed income return, safety, life insurance cover and tax benefits

The different Future Generali savings plans are mentioned below:

a. Traditional Plans : Traditional savings plans by Future Generali provide the policyholder with the sum assured in addition to vested bonus at the time of maturation of the policy. Under these plans, you can benefit from increasing your savings with the help of life coverage (provided with the plans). Let's take a look at the different traditional plans

i) Future Generali Triple Anand Advantage Plan

Future Generali Triple Anand Advantage Plan helps in accumulating savings to meet the financial needs in the future. It offers 3 benefits in a single plan, which are as follows:

  • Under the plan, 10% of the sum assured will be payable for 5 successive years after paying all the premiums.
  • On maturation of the policy, 50% of the sum assured is paid as a lump sum.
  • It provides life cover till the age of 80 years and pays 100% of the sum assured on death of the policyholder before turning 80.

Eligibility Criteria

Age at Entry (last birthday)Minimum: 7 years
Maximum: 50 years
Age at Maturity27 years - 75 years
Minimum PremiumRs. 15,000
Minimum Sum AssuredRs. 2 lakhs
Premium Payment Term15 or 20 years

**Last Updated on 05-11-2020

ii) Future Generali New Assure Plus Plan

Future Generali New Assure Plus Plan provides financial security by building a corpus for uncertainties of life. You can enhance your maturity benefit by additional bonuses offered by the plan. Also, there is a provision of flexibility to choose the policy term and premium payment term as per your financial purposes.

Eligibility Criteria

Age at Entry (last birthday)Minimum: 3 years
aximum: 55 years
Age at Maturity18 years - 70 years
Minimum Annualized PremiumRs. 10,000
[subject to Minimum Sum Assured of Rs. 1 lakh]
Minimum Sum AssuredRs. 1 lakh
Policy Term10 to 30 years

**Last Updated on 05-11-2020

b. Guaranteed Plans : Future Generali Guaranteed Plans are ideal for individuals falling under the age group of 18-60 years. These plans provide guaranteed returns along with life insurance cover. All the benefits will be paid on the maturity date of the policy. Let's take a look at these plans.

i) Future Generali Assured Wealth Plan

Future Generali Assured Wealth Plan, a savings plan that offers 2 product options and guaranteed additional bonuses during the entire policy tenure. The plan also offers an increasing death benefit, i.e., the death benefit increases every year on the addition of guaranteed bonus. Under the policy, the premium rates are lower for women.

Eligibility Criteria

Age (As on last Birthday)Option 1Option 2
Minimum0 Years18 Years
Maximum60 Years55 Years
Maturity AgeMinimum18 Years28 Years
Maximum75 Years70 Years
Policy Terma. Option 1: 10 to 25 years
b. Option 2: 10 to 25 years the difference between Policy Term and Premium Paying Term should be at least 5 years

**Last Updated on 05-11-2020

ii) Future Generali Big Income Multiplier Plan

Future Generali Big Income Multiplier Plan is an affordable savings life insurance product that provides maturity benefit for over a limited premium payment period of 12 years. The plan offers guaranteed income after the policy tenure, with the flexibility to choose between annual or monthly income options.

Eligibility Criteria

Age at Entry (last birthday)Minimum: 4 years
Maximum: 50 years
Age at Maturity18 years - 64 years
Minimum Annualized PremiumRs. 18,000
Minimum Monthly PremiumRs. 1500
Policy TermFixed Policy Term of 14 years

**Last Updated on 05-11-2020

iii) Future Generali Assured Income Plan

Future Generali Assured Income Plan guarantees an assured income through the return of premiums along with life insurance cover. Under the plan, an additional benefit can be received by guaranteed bonuses ranging from 1 to 4.5 times of annualized premium together with the last payout.

Eligibility Criteria

Age at Entry (last birthday)7 to 50 years for 11 year policy term
5 to 50 years for 15 year policy term
Age at Maturity18 years - 65 years
Minimum PremiumAnnual Premium Payment Mode:-
For an 11 year term: Rs 35,000 for age 7 to 50 years.
For a 15 year term: Rs 35,000 for age 5 to 44 years & Rs 75,000 for age 45 to 50 years
Policy Term11 and 15 years

**Last Updated on 05-11-2020

iv) Future Generali Assured Money Back Plan

Future Generali Assured Money Back Plan is a guaranteed income cum savings plan that pays 10% of the sum assured every year for a term of 9 years and 110% of the sum assured on the maturation of the policy.

Eligibility Criteria

Age at Entry (last birthday)Minimum: 18 years
Maximum: 55 years
Age at Maturity28 years - 77 years
Minimum Annualized PremiumRs. 18,000
Premium Payment FrequencyMonthly, quarterly, half-yearly and annual

**Last Updated on 05-11-2020

7. Future Generali Group Plans

Future Generali Group Plans enables businesses to administer facilities and management. The plans are designed for employers, groups and institutions so they can provide adequate coverage to their employees or group members. One can easily handle different amenities of an organisation like superannuation, gratuity, loans, leave encashment and life insurance with the help of these plans.

Now, let us check out the range of group plans offered by Future Generali life insurance:

i) Future Generali Sampoorn Loan Suraksha

Future Generali Sampoorn Loan Suraksha provides financial security to assets against the loan taken by the borrowers. It can be taken based on individual, joint life or co-borrower. It offers coverage for uncertain events of life like death, disability, accidents, critical illness and terminal illness.

Eligibility Criteria

Age at Entry (last birthday)Minimum: 14 years (in case of education loan)
18 years (in case of other loans)
Maximum: 70 years
Age at Maturity75 years
Sum AssuredMinimum: Rs 10,000
Maximum: No Limit (Will be based on the loan amount and is subject to Underwriting Policy)
At no point in time, the reduced cover shall be less than the minimum Sum Assured of Rs. 10,000
Premium Payment TermSingle Premium only
Minimum Group Size20 members

**Last Updated on 05-11-2020

ii) Future Generali Group Superannuation Plan

Future Generali Group Superannuation Plan is a non-linked participating group insurance product to offer fund management to the employers of an organisation. The earnings of this policy will be shared through bonuses after completion of every financial year. It offers two schemes, viz., Defined benefit Scheme and Defined Contribution Scheme.

Eligibility Criteria

Age at Entry (last birthday)Minimum: 18 years
Maximum: 79 years
Age at Maturity19 to 80 years
Minimum Contribution at InceptionRs. 2 lakhs
Minimum Group Size10 members

**Last Updated on 05-11-2020

iii) Future Generali Group Leave Encashment Plan

Future Generali Group Leave Encashment Plan, a group insurance product that assists the employers' liability in managing the funds. The plan also provides life cover to all the members in the group. The plan offers interest income that gets credited to the policy at the end of the financial year, and once the interest amount is credited, the policy account will become guaranteed.

Eligibility Criteria

Age at Entry (last birthday)Minimum: 18 years
Maximum: 69 years
Age at Maturity70 years
Sum AssuredRs. 5,000/- (Per Member) Fixed
Minimum Contribution at Scheme LevelRs. 5 lakhs
Minimum Group Size10 members

**Last Updated on 05-11-2020

iv) Future Generali Group Gratuity Plan

Future Generali Group Gratuity Plan is a non-participating and non-linked group gratuity policy that offers fund management of the group members. The interest income earned by the policy also gets added after every financial year. The plan provides investment returns, which helps to build the gratuity fund in a systematic way along at affordable prices.

Eligibility Criteria

Age at Entry (last birthday)Minimum: 18 years
Maximum: 69 years
Age at Maturity70 years
Sum AssuredRs. 5,000/- (Per Member) Fixed
Minimum Contribution at Scheme LevelRs. 5 lakhs
Minimum Group Size10 members

**Last Updated on 05-11-2020

v) Future Generali Group Term Life Insurance Plan

Future Generali Group Term Life Insurance Plan is a way to provide life coverage to all the members of a group (under a single plan). The process of addition and deletion of members (every month) can be done in this policy. It acts as a tool to provide incentives to the employees and strengthen employee retention programs.

Eligibility Criteria

Age at Entry (last birthday)Minimum: 18 years
Maximum: 69 years
Age at Maturity70 years
Premium Per Group/SchemeMinimum: Rs 2,500
Maximum: No Limit
Minimum Sum AssuredRural and Social Group
if the Number of Members is 5,000 or more:
Rs. 5,000/- (Per Member)
Other Groups: Rs. 5,000/- (Per Member)
Minimum Group Size25 members per group

**Last Updated on 05-11-2020

vi) Future Generali Comprehensive Employee Benefits Plan

Future Generali Comprehensive Employee Benefits Plan is a complete solution to manage employee benefits like leave encashment, superannuation and gratuity. The plan is liable to add loyalty units to boost funds every year. Under the plan, employers can enjoy the advantage of a systematic transfer of funds.

Eligibility Criteria

Age at Entry (last birthday)Minimum: 18 years
Maximum: 79 years
Age at Maturity80 years
Minimum Sum Assured per memberRs. 5,000 per member for gratuity and leave Encashment and NIL for superannuation
Minimum Group Size10 members
Policy TermYearly renewable

**Last Updated on 05-11-2020

vii) Future Generali Loan Suraksha

Future Generali Loan Suraksha is a type of group insurance plan, which provides financial security to its loan borrowers along with life cover. It offers coverage against a broad range of loans such as vehicle loans, home loans, education loans, personal loans, business loans, etc.

Eligibility Criteria

Age at Entry (last birthday)Minimum: 18 years
Maximum: 65 years
Age at Maturity70 years
Minimum Sum AssuredRs. 20,000
Minimum Group Size50 members

**Last Updated on 05-11-2020

Why Purchase Future Generali Life Insurance Plans?

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.

Future Generali Life Insurance: Claim Settlement Process

Claim Intimation:

The nominee/claimant of the life insurance policy is required to intimate the company about the incident

Documents Required:

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

Claim Processing:

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.

Claim Decision:

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.

Future Generali Life Insurance: Contact Details

Contact Address : Future Generali India Life Insurance Co. Ltd, Indiabulls Finance Centre, 6th Floor, Tower 3, Senapati Bapat Marg, Elphinstone West Mumbai, Maharashtra - 400013, India.

Customer Support : Phone: 1800 220 233, 1860 500 3333, 022 67837800

Chat Online : Visit the official website of Future Generali. You will see an option of 'Live Chat' or 'Reach Out to REVA' present at the extreme below right-hand side corner of the page.

[Customer executives are available from 8:00 am - 8:00 pm, Monday to Friday]

Send Message: SMS 'keyword' to 9222211100

Type of RequestShortcode/Keyword
For service requestsSERVE
For product queriesPRODUCT
For renewal related queriesREN

**Last Updated on 05-11-2020

Company representative shall call you back within a maximum of 2 hours [8 am - 8 pm all days of the week]

E-mail: fgcare[at]futuregenerali[dot]in, Fax: 022-41514555, 022- 40976785.

Future Generali Life Insurance : FAQs

1. May I know whether Future Generali Flexi Online Term Plan provides coverage to my children?

No, Future Generali Flexi Online Term Plan does not provide coverage to children. The mandatory age at entry for the policy is 18 years.

2. How to check the policy status of Future Generali Life Insurance policy?

You need to visit the official website of Future Generali Life and login with your user ID and password. After logging in, you can see the 'Policy Details' tab. Click on it and you will be able to check your policy status.

OR

You can call at the toll-free number 1800-102-2355 or write an email at claims.support[at]futuregenerali[dot]in

3. Is there any mobile application available for Future Generali Life Insurance policies?

Yes, the company has a mobile application named- FG Life - Customer App.

4. Does the Future Generali Bima Advantage Plus Plan offer loyalty additions?

No, Future Generali Bima Advantage Plus Plan does not offer loyalty additions.

5. Can I get term insurance cover if I am a smoker or tobacco user?

Yes, you can. You just need to pay a higher premium as compared to a non-smoker.

6. Is there 'Waiver of Premium (WoP)' benefit applicable for my Future Generali Cancer Protect Plan?

Yes, it's there. However, this benefit does not apply to the Single Premium payment option.

7. Can I make partial withdrawals under the 'Dream Protect' investment option for my Future Generali Big Dreams Plan?

No, partial withdrawals are not available under the 'Dream Protect' investment option for Future Generali Big Dreams Plan. It is applicable for 'Wealth Creation' and 'Retire Smart' investment options only.

8. What are the different variants available under Future Generali Sampoorn Loan Suraksha policy?

Future Generali Sampoorn Loan Suraksha policy offers two different variants as follows:

  • Reducing Cover
  • Level Cover

Last updated on 05-11-2020