Future Generali Personal Accident

Future Generali Personal Accident

Future Generali is a general insurance Company that is a joint venture between a leading Indian business conglomerate, the Future Group of industries and the Generali group, which is a leading Italian based company, which is a prime leader in financial protection and wealth management.

Read More

The Generali group is the largest insurance company in Italy and is also among the most reputed and largest insurance providers in Europe. The company started its operations September 2007. The company offers a range of insurance products for its customers across all segments that includes all major insurance that a person may need.

Why Personal Accident Insurance?

A personal accident insurance plan protects the individual and his or her family members in the event of the unfortunate demise of the insured or if there is a serious accident or injury. Accidents are unpredictable and an accident can create a significantly huge financial burden on the customer and his or her family. Accidents may not be prevented, but an individual can take concrete steps towards protecting him or herself and his or her loved ones by securing their future and providing financial stability. While many people have taken out life insurance policies, a standalone personal accident policy is highly recommended as it will cover the insured person at a nominal premium rate, especially when compared to life insurance policy and also provides the advantage of covering minor injuries and the loss of income.

Personal Accident Insurance plans offered by Future Generali

The company offers a personal accident insurance plan called Accident Surakhsa. Let us take a closer look at the personal accident insurance plans as offered by Future Generali.

Future Generali Personal Accident Insurance Plan – Accident Suraksha

The Future Generali Personal Accident Insurance plans cover the insured persons and their family members against various circumstances related to accidents. These circumstances may be minor hurts and injuries or major disablements and even death. These plans aim to provide financial security and stability for the insured individuals and their families in the unfortunate event of an accident.

The Scope of Coverage of the Future Generali Personal Accident Insurance Plan – Accident Suraksha:

• Permanent Total Disablement [PTD] Benefit - A lump sum payment would be made, as per the scale provided in the policy, in the event of Permanent Total Disability of the person insured due to an accident.
• Permanent Partial Disablement [PPD] Benefit - A lump sum payment would be made, as per the scale provided in the policy, in the event of Permanent Partial Disability of the person insured due to an accident.
• Accidental Death [AD] Benefit - A lump sum payment would be made in the event of the Death of the person insured, due to an accident.
• Temporary Total Disablement Benefit - A weekly allowance would be paid to the insured to compensate for the loss of income because of Temporary Total Disability caused by an accident.
• Repatriation Benefit and Funeral Expenses - The plan covers repatriation of mortal remains and the cremation or burial expenses will be covered. This is an inbuilt cover.

Additional Covers under the Future Generali Personal Accident Insurance Plan – Accident Suraksha

On paying an extra premium on the Personal Accident Insurance Plan, an individual can avail of the following covers:

• Child Education Support
• Family Transportation Allowance - If a claim under Accidental Death or Permanent Total Disablement is accepted, Future Generali will reimburse the expenses incurred in transporting one immediate family member to the hospital, provided that such Hospital is located at least 100 km from the insured person’s residence. The actual transportation expenses will be reimbursed up to 10% of the Principal Sum Insured subject to a maximum amount of Rs. 50,000.
• Loan Protector - A lump sum amount is paid by Future Generali in the event of accidental death or Permanent Total Disablement. Benefit also payable upon each completed month of Accidental Hospitalization up to the maximum number of months mentioned on the schedule.
• Adaptation Allowance - If Future Generali has paid the claim towards Permanent Total Disablement and you are required to modify your vehicle or make some changes in your house as necessitated by a Permanent Total Disablement which resulted from an Accident covered under this Policy then Future Generali shall reimburse such expenses up to a limit of 10% of the Principal Sum Insured subject to a maximum of Rs.50,000.
• Accident hospitalization (inpatient) - Hospital expenses that are incurred for the inpatient treatment of the insured person who has met with an accident will be covered.
• Accidental Medical Expenses - Medical expenses that are incurred for the inpatient treatment of the insured person who has met with an accident will be covered.
• Terrorism - If there is an Accidental Death or Permanent Total Disablement or Permanent Partial Disablement or Temporary Total Disablement due to the insured person being a victim of terrorism, Future Generali will cover the case.
• Hospital Cash Allowance - If the insured person meets with an accident and is hospitalized, he or she may apply for a hospital cash allowance.
• Life Support Benefit -  In the event of Future Generali making payment for a claim for Permanent Total Disablement, Future Generali will also make payment towards your life support the sum insured mentioned against this benefit per month for the number of months mentioned in the Schedule.

Eligibility

• Individuals between the ages of 18 years to 70 years are covered under these plans.
• Children who between the ages of 5 years to 25 years are covered under the plan, so long as at least one parent is insured.
• The plans cover a period of one year.

Additional Features of the Future Generali Accident Surakhsa – Personal Accident Insurance Plans

• The average turn-around-time for the claim settlement of Future Generali insurance plans is within a period of 14 working days. This is on the condition that all the documentation and information has been provided.
• Future Generali Personal Accident Insurance provides 24/7 worldwide cover for its customers.
• The plan has no maximum cover ceasing age. Therefore, the plan has lifelong renewability.
• A Grace Period of 30 days is provided for renewing the policy from the date of expiry.
• There is no medical examination required for availing of the Future Generali personal accident plans.
• The plan is very flexible as the insured person can cover his or her spouse and children as well.
• In case more than one person is covered under the Future Generali Personal Accident Plan, then a Family Discount of 10% is provided.
• An existing Personal Accident Policy may be ported to Future Generali at no extra cost.
• There is a Free Look Period of 15 days from the date of receiving the policy documents. If the person is not satisfied with the coverage or the terms and conditions of the policy, then he or she may opt to return the same, provided that no claim has been made. Future Generali will refund the premium paid as per the terms and conditions.

Exclusions

There are certain factors that are excluded from the scope of coverage of personal accident insurance. The exclusions are as follows:

• Suicide, attempted suicide or willfully self-inflicted injury or illness, mental disorder, anxiety/stress/depression/nervousness, venereal disease, alcoholism, drunkenness or drug abuse
• Manual work or hazardous occupation, self-exposure to needless peril (except in an attempt to save human life), engaging in any criminal or illegal act.
• Pregnancy, resulting in childbirth, miscarriage, abortion, or complication arising out of any of the foregoing.
• War or any act of war, invasion, act of foreign enemy, war like operations, civil war, public defense, rebellion revolution, insurrection, military or usurped acts, riot, chemical, radioactive or nuclear contamination.
• Participation or involvement in naval, military or air force operations, racing, diving, aviation, scuba diving, parachuting, hang-gliding, rock or mountain climbing.
• Any breach of law with criminal intent.
• Abuse of intoxicants or hallucinogens including drugs & alcohol.

Percentage of Sum Insured

The following table makes it clear how much percentage of the Sum Insured will be reimbursed in case of different accidental events:

Premium Calculator

Future Generali provides the facility of premium calculation to prospective individuals seeking to buy personal accident insurance plans from the company. Following are some of the instances where the premium has been calculated using the company’s calculator:

• A wants to apply for a very basic Personal Accident Insurance plan for himself for a value of Rs.5 lakhs. His annual premium works out to be Rs. 355 only.
• B wants to buy a plan for himself and his newly married wife. He approaches Future Generali with a proposal to cover himself and his spouse on a basic personal accident insurance plan for a total of Rs. 10 lakhs. The premium for their Personal Accident Premium Insurance plans comes to Rs.713.
• C needs a basic personal accident premium insurance plan for his family comprising of himself, his wife and his two children. The coverage sought is Rs.25 lakhs for which the premium charged is Rs. 1642.

The table tabulates the above data for an instant reference

Applying for Personal Accident Insurance Plans from Future Generali

The Personal Accident Insurance plans offered by FutureGenerali can be applied to through multiple channels. A person who wishes to avail of a Personal Accident Insurance Plan from Future Generali may opt for any of the following ways to do so:

• Individuals who are interested in purchasing personal accident insurance plans from Future Generali can log on to the company website and get a recommendation about which health insurance plans are suitable to them.
• Individuals desirous of availing any of the personal accident insurance plans can simply call the Sales helpline of the company and speak to the customer service representative.
• They can chat online with a customer service representative regarding the health insurance plans from Monday to Friday from 9 AM to 6 PM.
• They can also request a call back from company by leaving their name, mobile number and email ID on the company website.
• Lastly, customers may also visit the company’s branches or get in touch with an agent to buy the plans required.

Future Generali Personal Accident - FAQs