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Future Generali Life Insurance

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Future Generali Life Insurance

Overview
Future Generali India Life Insurance Company Limited is a joint venture entity established between three of the top groups across India and the globe, namely the Future Group, IITL (Industrial Investment Trust Limited) and Generali Group which is amongst the top 50 biggest global organizations. The company has 75 branches in India and offers a diverse bouquet of insurance products for customers including term, ULIP, child and retirement plans.

Future Generali Life Insurance Company Limited has sold more than 12 lakh policies since it commenced operations and prides itself on its claim settlement ratio of 89.47% as of FY2016-17. As of February, 2016, the company manages Rs. 2, 800 crore worth of assets under management (AUM).

Future Generali Life Insurance at a glance
  • Received the TOP 100 CISO Award in May 2015
  • 50 largest companies in the world (Fortune Global 500)
  • Claims settlement ratio is 89.47% for FY 2016-17
  • ISO 9001:2008 certified investment team
  • Over 12 Lakh policies sourced since inception
Future Generali India Life Insurance Company Term Plans
There are Assured Income Plans with policy terms between 11-15 years. There are guaranteed payouts for customers along with death benefits and loan facilities. Premiums are payable for 11/15 years and payouts are ensured for 11/15 years thereafter. There are added benefits and death benefits on offer for customers as well.

Documentation needed to apply for Edelweiss Tokio Life Insurance
  • Age proof - (Any One)
    Driving License, Passport, Voter ID Card, Birth Certificate, etc
  • Identity proof – (Any One)
    Driving License, Passport, Voter ID card, PAN Card, Aadhar Card, or any document which proves citizenship
  • Income proof
  • Address proof – (Any One)
    Driving License, Passport and Utility Bill should clearly mention the permanent address
  • Income proof – (Any One)
    Salary Slip, Form 16, ITR
  • Recent passport size photograph

Future Generali Term Insurance Plans
  • Future Generali Flexi Online Term Plan: The plan comes with an income protection offering allowing for a monthly income on death till such time the policyholder would have turned 60 or for 10 years whichever is higher.
  • Future Generali Care Plus: A term plan offering high life cover at low premium. In the unfortunate event of the Life Assured passing away, his/ her nominee receives a lump sum amount as Sum Assured. The plan offers tax benefits and rebates for non smokers.

1: Future Generali Flexi Online Term Plan: The plan offers a lump sum payout on death and option for a monthly income till the policyholder would have turned 60 or for 10 years whichever is higher.

Advantages and Benefits
  • Provides life cover up to the age of 75 years.
  • Lower premium rates for women.
  • Discount in premium rate in case you opt for a Higher Sum Assured.
Features Description (Basic Life Cover) Description (Income Protection)
Entry Age (as on last birthday) 18 - 55 years 25 - 55 years
Maturity Age Minimum: 28 years
Maximum: Smoker: 65 years
Non – Smoker: 75 years
Minimum: 45 years
Maximum: 65 years
Policy Term Minimum: 10 years
Maximum: Smoker: 65 years minus Entry Age
Non-smoker: 75 years minus Entry Age
Minimum: 10 years (subject to minimum maturity age of 45 years)
Maximum: 65 years minus Entry Age
Policy Term (in Years) For benefit option 1: Minimum 10 - Maximum 62
For benefit options 2 & 3 : Minimum 10 - Maximum 40
 
Premium Payment Term Equal to the Policy Term for all options Equal to the Policy Term for all options
Premium Payment Frequency Monthly/Annual Monthly/Annual
Sum Assured Minimum Lump Sum Payout : Rs. 50,00,000
Maximum Lump Sum Payout: No Limit
Fixed Income Protection
Entry Age-25-43: Minimum Monthly Amount-Rs. 25,000
Entry Age-44-48: Minimum Monthly Amount-Rs. 35,000
Entry Age-49-55: Minimum Monthly Amount-Rs. 42,000

Increasing Income Protection
Entry Age-25-48: Minimum Monthly Amount-Rs. 25,000
Entry Age-49-55: Minimum Monthly Amount-Rs. 30,000
Riders Available Future Generali Accidental Benefit Rider (UIN: 133B027V01) Future Generali Accidental Benefit Rider (UIN: 133B027V01)

2: Future Generali Care Plus: Future Generali Care Plus is a term plan offering high life cover at low premium.

Advantages and Benefits
  • Financial security to family at extremely affordable rates
  • Discount of premium for higher Sum Assured
Features Description- Future Generali Care Plus (Classic Option) Description- Future Generali Care Plus (Premier Option)
Minimum - Maximum Age at Entry 18 to 60 years 18 to 60 years
Minimum - Maximum Policy Term 5 to 30 years 5 to 30 years
Maximum Coverage Age 65 years 65 years
Minimum Premium Rs. 2,500/- per annum Rs. 5,000/- per annum
Minimum Sum Assured Rs. 10,00,000/- Rs. 25,00,000/-
Maximum Sum Assured Rs. 24,99,999/- No Limit
Premium Modes Yearly/ Half-Yearly/ Monthly (ECS only) Yearly/ Half-Yearly/ Monthly (ECS only)