Future Generali Term vs Lic Term

  • Multiple policy tenure to choose from
  • Premiums starting @Rs 15/day
  • 30-day grace period
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Future Generali Term vs Lic Term

COMPANY DETAILS Edit Future Generali Term Insurance Plans

Future Generali Term

 Edit LIC Term Insurance

Lic Term
Rating
Number of term insurance plans and add-ons
Annual Premiums Collected (2024-25)

Annual Premiums Collected (2024-25)

Rs 2510.85 crores

Annual Premiums Collected (2024-25)

848.92 crores
Payout Options

Payout Options

Lump sum, monthly, or a combination of both

Payout Options

Lump sum, monthly, or a combination of both
Claim ratio

Payout Options

99.78%%

Payout Options

98.15%%
Solvency Ratio

Solvency Ratio

1.70

Solvency Ratio

2.11
Pan India Presence

Pan India Presence

100+

Pan India Presence

2048
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

Accidental Death and Disability Benefit, Critical Illness, Premium Waiver Benefit
Policy Term

Policy Term

5 to 30 years

Policy Term

5 to 40 years
Inception year

Inception year

2006

Inception year

1956
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

0.005
Average claim settlement time

Average claim settlement time

15 days

Average claim settlement time

7-15 working days
IRDAI registration number

IRDAI registration number

133

IRDAI registration number

512
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

'Best Brand' at ET BFSI Awards, 'Most Trusted Insurance Brand' by Insurance Alerts, and recognitions for claim service and campaign excellence
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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

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)

Future Generali Care Plus
  • Discount on Higher Sum Assured
  • Accidental Death Rider
  • Customizable Plan

Future Generali Care Plus (Cons)

Future Generali Care Plus
  • No Maturity Benefit
  • No Surrender Benefit
  • No Policy Loan Allowed

Future Generali Care Plus (Other Benefits)

Future Generali Care Plus
  • Two Indicative Premium Rates
  • ₹1 Crore Sum Assured Plan
  • Suicide Cover After 1 Year

Future Generali Care Plus (Eligibility Criteria)

Future Generali Care Plus
  • 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)

LIC Term Insurance

Explore India’s best-selling Term insurance plans below

One of India's most trusted and legacy insurance brands, LIC began its journey six decades ago and serves over 250 million policyholders.

LIC Jeevan Amar

LIC Jeevan Amar

LIC Jeevan Amar plan is a non-linked, non-participating, without profit, offline pure protection term insurance plan. With several benefits, LIC Jeeva...

Unique Features

  • Rebate on High Sum Assured
  • Discounted Premium for Women
  • Add-on cover with Accident Benefit Rider

LIC Jeevan Amar (Pros)

LIC Jeevan Amar
  • Choose your policy term
  • Flexibility to choose from two benefit options
  • Special rates for women

LIC Jeevan Amar (Cons)

LIC Jeevan Amar
  • No maturity benefits
  • No survival benefits
  • No policy loan

LIC Jeevan Amar (Other Benefits)

LIC Jeevan Amar
  • High sum assured rebate
  • Choose the riders of your choice
  • Attractive premium rates for non-smokers

LIC Jeevan Amar (Eligibility Criteria)

LIC Jeevan Amar
  • Entry age - 18 years
  • Max entry age - 65 years
  • Min sum assured - 25 lakhs
  • Max maturity age - 80 years
  • PPT - RP/SP/LP

LIC Tech Term Plan

LIC Tech Term Plan

LIC's Tech Term plan is a non-linked, non-participating online, pure risk premium plan that provides financial protection to the insured's family in c...

Unique Features

  • Online Application
  • Rebate on High Sum Assured
  • Lower Premium for Women

LIC Tech Term Plan (Pros)

LIC Tech Term Plan
  • Choose from two benefit options
  • payment of benefit in installments
  • Special rates for women

LIC Tech Term Plan (Cons)

LIC Tech Term Plan
  • No maturity benefits
  • No survival benefits
  • No policy loan

LIC Tech Term Plan (Other Benefits)

LIC Tech Term Plan
  • High sum assured rebate
  • Choose your policy term
  • Enhance your protection with riders

LIC Tech Term Plan (Eligibility Criteria)

LIC Tech Term Plan
  • Entry age - 18 years
  • Max entry age - 65 years
  • Min sum assured - 50 lakhs
  • Max maturity age - 80 years
  • PPT - RP/SP/LP

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Naval Goel

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.

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