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Future Generali Term vs Bajaj Term Insurance Plan

COMPANY DETAILS

Future Generali Term

Bajaj Term Insurance Plan

Rating	Rating 4.6	Rating 4.6
Number of term insurance plans and add-ons	No. of Plans 1	No. of Plans 10
Annual Premiums Collected (2024-25)	Annual Premiums Collected (2024-25) Rs 2510.85 crores	Annual Premiums Collected (2024-25) 160.06 cr
Payout Options	Payout Options Lump sum, monthly, or a combination of both	Payout Options Lump sum, monthly, Lump sum+monthly, Lump sum+increasing monthly payout
Claim ratio	Payout Options 99.78%%	Payout Options 99.33%%
Solvency Ratio	Solvency Ratio 1.70	Solvency Ratio 2.6
Pan India Presence	Pan India Presence 100+	Pan India Presence 598
Riders Available	Riders Available Accidental Death Benefit Rider, Accidental Total Permanent Disability Protection Rider, Critical Illness Benefit Rider, Accidental Death and Dismemberment Rider.	Riders Available Terminal Illness Rider, Waiver of Premium Benefit Rider, Critical Illness Rider, Accidental Permanent Total/Partial Disability Benefit Rider, Accidental Death Benefit Rider, Family Protect Rider
Policy Term	Policy Term 5 to 30 years	Policy Term 10 to 40 years
Inception year	Inception year 2006	Inception year 2001
Complaint ratio per ₹1 crore of premium collected	Complaint ratio per ₹1 crore of premium collected 0.183	Complaint ratio per ₹1 crore of premium collected 0.029
Average claim settlement time	Average claim settlement time 15 days	Average claim settlement time 24 hours
IRDAI registration number	IRDAI registration number 133	IRDAI registration number 116
Awards and recognitions	Awards and recognitions "Company of the Year" (Mid Segment) at Navabharat BFSI Awards 2022, Stevie Awards for customer service, and ASSOCHAM awards.	Awards and recognitions India’s Greatest Brand 2024/25, 1st Rank in PMFBY Performance Ranking by the Govt. of India, Best Fraud Risk Management Program Award
Recommended Videos	Secure Your Future with Future Generali Term Insurance Plans!

Overview

Future Generali Term Insurance: Overview

Future Generali Life Insurance is a joint venture between Future Group and Generali Group, offering term insurance plans designed to provide financial security and high life cover. With over 3 million policies sold and strong claim support, it is a well-established insurer in India.

The company was incorporated in September 2007 to provide retail, commercial, personal, and rural insurance solutions to individuals and corporations to help them manage and mitigate risks. Future Generali also offers health insurance for pets, in addition to covering family members.

Future Generali offers a variety of term insurance plans that protect your loved ones. The company has total assets under management of ₹5,300 crores, over 3 million policies sold across India, and over 2.6 lakh claims settled annually.

Future Generali offers 5 online term insurance plans: Care Plus, Saral Jeevan Bima, Express Term Life, Flexi Online Term, and Jan Suraksha. Each plan has unique benefits and features designed to serve different objectives.

Key Benefits:

Stay protected against 34 critical illnesses
Tax benefits under Section 80C or 10(10D)
Avail high sum assured discount
Get life cover at affordable premiums
Special premium rates for women
Increasing Income Protection
Monthly income benefit

Riders

Riders You Can Avail With Future Generali Term Insurance Plans

Here are the riders that you can avail with Future Generali term insurance plans:

Name of the rider	Benefits
Future Generali Accidental Death Benefit Rider	This optional rider provides an additional sum assured payout in case of accidental death.
Future Generali Accidental Total Permanent Disability Protection Rider	This rider offers benefits in case of permanent disability due to an accident.
Future Generali Critical Illness Benefit Rider	This rider offers an additional payout upon diagnosis of any of the critical illnesses listed in the Future Generali term insurance policy.

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Future Generali Term Insurance

Explore India’s best-selling Term insurance plans below

Future Generali India Life Insurance Company has a presence in over 1300 locations in India, offering insurance solutions for both individual and group segments.

Future Generali Care Plus

Future Generali Care Plus Plan is an affordable term plan offering high coverage, flexible terms, and tax benefits. The plan is extremely affordable a...

Unique Features

Death Benefit
Two Plan Options
Accidental Rider

Future Generali Care Plus (Pros)

Discount on Higher Sum Assured
Accidental Death Rider
Customizable Plan

Future Generali Care Plus (Cons)

No Maturity Benefit
No Surrender Benefit
No Policy Loan Allowed

Future Generali Care Plus (Other Benefits)

Two Indicative Premium Rates
₹1 Crore Sum Assured Plan
Suicide Cover After 1 Year

Future Generali Care Plus (Eligibility Criteria)

Minimum Entry Age: 18 Years
Maximum Entry Age: 65 Years
Minimum Sum Assured: ₹25 Lakhs
Maximum Maturity Age: 85 Years
Premium Payment Term: 25 Years (Regular Pay)

Bajaj Term Insurance

Explore India’s best-selling Term insurance plans below

Bajaj Life Term Insurance commenced its operations in 2001 and expanded its presence across the country. It serves millions of customers with versatile term plans.

Bajaj Life e-Touch

Bajaj e-touch is a pure term insurance plan safeguarding you and your loved ones from unforeseen circumstances. The plan is equipped to manage various...

Unique Features

High SI Available
Accidental Death Benefit
Health Management Services

Bajaj Life e-Touch (Pros)

Shield
Shied Plus
Shield Supreme

Bajaj Life e-Touch (Cons)

No Loans Allowed
No Surrender Benefit
No Maturity Benefit

Bajaj Life e-Touch (Other Benefits)

Max Sum Assured 2 Cr
Sheild Super
High Sum Assured Rebate (HSAR)

Bajaj Life e-Touch (Eligibility Criteria)

Entry Age -18 Years
Max Entry Age- 65 Years
Minimum Sum Assured - 50 L
Maximum Maturity Age - 75 Yrs
Premium Payment Term - 10 to 40 Yrs

Bajaj iSecure plan

Bajaj iSecure plan is a non-linked, non-participating plan that offers an advanced level of term insurance coverage at a low cost. The plan offers rew...

Unique Features

105% Death Benefit
Rider Benefit
50 lakhs Max Sum Assured

Bajaj iSecure plan (Pros)

No Suicide Cover
Healthy Lifestyle Incentives
Customizable Options

Bajaj iSecure plan (Cons)

No Maturity Benefit
Limited Rider Options
Limited Availability for POS Channel

Bajaj iSecure plan (Other Benefits)

Tax Benefits
Premium Payment Options
High Sum Assured Rebate (HSAR)

Bajaj iSecure plan (Eligibility Criteria)

Entry Age -18 Years
Max Entry Age- 65 Years
Minimum Sum Assured - 2.5 L
Maximum Maturity Age - 85 Yrs
Premium Payment Term - 10 to 25 Yrs

Bajaj Life Secure

Bajaj Life Secure is an advanced term insurance plan that offers protection till your 100th birthday. This plan is a non-linked and non-participating ...

Unique Features

3 Plan Options
Critical Illness Benefit
Waiver Of Premium

Bajaj Life Secure (Pros)

Surrender Benefit
Suicide Cover
Choose your Sum Assured

Bajaj Life Secure (Cons)

No Survival Benefit
No Thyroid Cancer Cover
No Maturity Benefit

Bajaj Life Secure (Other Benefits)

Death Benefit
Accelerated Critical Illness
Waiver of premium Benefit

Bajaj Life Secure (Eligibility Criteria)

Entry Age -18 Years
Max Entry Age- 65 Years
Minimum Sum Assured - 20 L
Maximum Maturity Age - NA
Premium Payment Term - 5 7 10 and 15 years

Bajaj Saral Jeevan Bima

Bajaj Sararl Jeevan Bima is a non-linked, non-participating individual, pure-risk premium life insurance plan designed to provide financial security t...

Unique Features

Death Benefit
Tax Benefit
25 Lakh Max Sum Assured

Bajaj Saral Jeevan Bima (Pros)

Spouse Cover
Max Sum Assured 25 Lakh
Available for Online Buying

Bajaj Saral Jeevan Bima (Cons)

No Survival Benefit
No Surrender Benefit
No Maturity Benefit

Bajaj Saral Jeevan Bima (Other Benefits)

Avail Tax Benefits
Easy Claim Settlement Process
Flexible-Premium Payment term

Bajaj Saral Jeevan Bima (Eligibility Criteria)

Entry Age -18 Years
Max Entry Age- 65 Years
Minimum Sum Assured - 5L
Maximum Maturity Age - NA
Premium Payment Term - RP/SP/LP (5&10 Years)

Bajaj iSecure Loan

Bajaj iSecure Loan Term Plan is a protection-focused insurance plan designed to clear your outstanding loan in case of death. It ensures your family d...

Unique Features

Protection against loan
Joint life cover
Rider benefits

Bajaj iSecure Loan (Pros)

Suicide Cover
Tax benefits
Policy Revival within 5 Years

Bajaj iSecure Loan (Cons)

No Survival Benefit
No Surrender Benefit
No Discount Benefit

Bajaj iSecure Loan (Other Benefits)

Accidental Death Benefit Rider
Waiver of Premium Benefit Rider
Accidental Permanent Total/Partial Disability Rider

Bajaj iSecure Loan (Eligibility Criteria)

Entry Age -25 Years
Max Entry Age- 60 Years
Minimum Sum Assured - 3 L
Maximum Maturity Age - 65 Yrs
Premium Payment Term - 10/ 15/ 20/ 25 years

Bajaj Lifestyle Secure

Bajaj Lifestyle Secure is a dual benefit insurance plan that combines life cover with protection against critical and terminal illnesses in one policy...

Unique Features

Level Cover Term
Terminal Illness Cover
Flexible-Premium Payment Term

Bajaj Lifestyle Secure (Pros)

Family Cover
Choose your Policy Term (PT)
Inbuilt Accelerated Terminal Illness

Bajaj Lifestyle Secure (Cons)

No Loans Allowed
No Surrender Benefit
No Maturity Benefit

Bajaj Lifestyle Secure (Other Benefits)

Suicide Cover
Easy Claim Settlement
Policy revival Within 5 Years

Bajaj Lifestyle Secure (Eligibility Criteria)

Entry Age -18 Years
Max Entry Age- 50 Years
Minimum Sum Assured - 3L
Maximum Maturity Age - 60 Years
Premium Payment Term - 5/ 7/ 10/ 15/ 20 Yrs

Bajaj Life Smart Protect Goal

Bajaj Life Smart Goal Protect is a flexible term insurance plan built for modern financial needs. An economic plan with affordable premium rates, come...

Unique Features

Critical illnesses covered
Return of Premiums
4 Plan variants

Bajaj Life Smart Protect Goal (Pros)

Critical Illness Benefit
Accidental Death Benefit (ADB)
Accidental Total Permanent Disability Benefit

Bajaj Life Smart Protect Goal (Cons)

No Loans Allowed
180 Days WP For Critical Illness
No Rebate for SA above 3 cr

Bajaj Life Smart Protect Goal (Other Benefits)

Suicide Cover After 12 Months
Female Life Rebate
High Sum Assured Rebate (HSAR)

Bajaj Life Smart Protect Goal (Eligibility Criteria)

Entry Age -18 Years
Max Entry Age- 65 Years
Min Sum Assured - 5 L
Max Maturity Age - 75 Yrs(ROP)
Premium Payment Term - RP/SP/LP

Bajaj Life Diabetic Term Plan Sub 8 HbA1c

Bajaj Life Diabetic Term Plan Sub 8 HbA1c is a unique protection plan offering term insurance coverage to pre-diabetics and type 2 diabetic individual...

Unique Features

Keep Fit Benefit
Health Coaching
Second Medical Opinion

Bajaj Life Diabetic Term Plan Sub 8 HbA1c (Pros)

Premium Reduction on Renewal
Good Health Premium Discounts
Health Management Services.

Bajaj Life Diabetic Term Plan Sub 8 HbA1c (Cons)

No Maturity Benefit
No Surrender Value
Limited Coverage With Hba1c Level Above 8%

Bajaj Life Diabetic Term Plan Sub 8 HbA1c (Other Benefits)

Tax Benefits Available
Flexible Sum Assured Options
Multiple Premium Payment Frequencies

Bajaj Life Diabetic Term Plan Sub 8 HbA1c (Eligibility Criteria)

Entry Age -30 Years
Max Entry Age- 6 Years
Minimum Sum Assured - 25 L
Maximum Maturity Age - 75 Yrs
Premium Payment Term - LP

Bajaj iSecure More

Bajaj iSecure More by Bajaj Life Insurance is an increasing cover term assurance plan. It offers a financial safety net to your loved ones in case of ...

Unique Features

Flexible Policy Tenure
Option to Avail Joint Life Cover
High Sum Assured Rebate

Bajaj iSecure More (Pros)

7 Plan Options
Cover Continuance Benefit
Inbuilt Terminal Illness Cover

Bajaj iSecure More (Cons)

1 year WP for suicide
No policy loan
No whole life coverage

Bajaj iSecure More (Other Benefits)

Death Benefits
Increasing Sum Assured
Tax Rebates

Bajaj iSecure More (Eligibility Criteria)

Entry age - 18 years
Max entry age - 60 years
Min sum assured - Rs 2.5 lakhs
Max maturity age - 70 years
PPT - Same as policy term

Bajaj Life Superwoman Term Insurance Plan

‘A woman who takes care of everyone in the family deserves a comprehensive solution that provides her protection.’ Bajaj Life Superwoman T...

Unique Features

Critical Illness Cover
Free Health Management Services
Child Care Benefit

Bajaj Life Superwoman Term Insurance Plan (Pros)

Critical Illness Cover
Free Health Management Services
Child Care Benefit

Bajaj Life Superwoman Term Insurance Plan (Cons)

1 year waiting period for suicide
No policy loan
No pre-existing illness cover

Bajaj Life Superwoman Term Insurance Plan (Other Benefits)

Death Benefits
Terminal Illness
Benefit Waiver of Premium

Bajaj Life Superwoman Term Insurance Plan (Eligibility Criteria)

Entry age - 18 years
Max entry age - 60 years
Min sum assured - Rs 50 lakhs
Max maturity age - 99 years
PPT - RP/SP/LP

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Reviewed By: Naval Goel

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.

Name of the rider	Benefits
Bajaj Waiver of Premium Benefit Rider	Future premiums are waived in case of the policyholder’s demise due to accidental death, disability, or any of the 11 critical illnesses mentioned.
Bajaj Family Income Benefit Rider	1% of the sum assured is offered for a rider term or 10 years as family income in case of accidental death, disability, or diagnosis of any of 11 critical illnesses.
Bajaj Accidental Death Benefit Rider	In case of the policyholder’s demise due to an accident, an additional payout is given to the nominee along with the base sum assured.
Bajaj Accidental Permanent Total/Partial Disability Benefit Rider	Additional payout is offered in case of total or partial disability of the policyholder due to an accident.
Bajaj Critical Illness Rider	Benefits are offered to the nominee in case of the policyholder’s demise due to any of 11 listed critical illnesses.

Future Generali Term vs Bajaj Term Insurance Plan

Compare

Future Generali Term vs Bajaj Term Insurance Plan

Overview

Future Generali Term Insurance: Overview

Key Benefits:

Bajaj Term Insurance: Overview

Riders

Riders You Can Avail With Future Generali Term Insurance Plans

Riders You Can Avail With Bajaj Term Insurance Plans

But how does it work?

Other Term Insurance Companies

Future Generali Term Insurance

Future Generali Care Plus (Pros)

Future Generali Care Plus (Cons)

Future Generali Care Plus (Other Benefits)

Future Generali Care Plus (Eligibility Criteria)

Bajaj Term Insurance

Bajaj Life e-Touch (Pros)

Bajaj Life e-Touch (Cons)

Bajaj Life e-Touch (Other Benefits)

Bajaj Life e-Touch (Eligibility Criteria)

Bajaj iSecure plan (Pros)

Bajaj iSecure plan (Cons)

Bajaj iSecure plan (Other Benefits)

Bajaj iSecure plan (Eligibility Criteria)

Bajaj Life Secure (Pros)

Bajaj Life Secure (Cons)

Bajaj Life Secure (Other Benefits)

Bajaj Life Secure (Eligibility Criteria)

Bajaj Saral Jeevan Bima (Pros)

Bajaj Saral Jeevan Bima (Cons)

Bajaj Saral Jeevan Bima (Other Benefits)

Bajaj Saral Jeevan Bima (Eligibility Criteria)

Bajaj iSecure Loan (Pros)

Bajaj iSecure Loan (Cons)

Bajaj iSecure Loan (Other Benefits)

Bajaj iSecure Loan (Eligibility Criteria)

Bajaj Lifestyle Secure (Pros)

Bajaj Lifestyle Secure (Cons)

Bajaj Lifestyle Secure (Other Benefits)

Bajaj Lifestyle Secure (Eligibility Criteria)

Bajaj Life Smart Protect Goal (Pros)

Bajaj Life Smart Protect Goal (Cons)

Bajaj Life Smart Protect Goal (Other Benefits)

Bajaj Life Smart Protect Goal (Eligibility Criteria)

Bajaj Life Diabetic Term Plan Sub 8 HbA1c (Pros)

Bajaj Life Diabetic Term Plan Sub 8 HbA1c (Cons)

Bajaj Life Diabetic Term Plan Sub 8 HbA1c (Other Benefits)

Bajaj Life Diabetic Term Plan Sub 8 HbA1c (Eligibility Criteria)

Bajaj iSecure More (Pros)

Bajaj iSecure More (Cons)

Bajaj iSecure More (Other Benefits)

Bajaj iSecure More (Eligibility Criteria)

Bajaj Life Superwoman Term Insurance Plan (Pros)

Bajaj Life Superwoman Term Insurance Plan (Cons)

Bajaj Life Superwoman Term Insurance Plan (Other Benefits)

Bajaj Life Superwoman Term Insurance Plan (Eligibility Criteria)

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Reviewed By: Naval Goel

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