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Future Generali Life Insurance Company Limited was incorporated on September 2007 as a joint venture between Future Group, a leading Indian Retailer with retail outlets like Pantaloons, Big Bazar etc., and Generali Group which is a global insurance group counted among the top 50 companies of the world and Industrial Investment Trust Limited (IITL) which is an investment company. As on September 2015 the company has total assets under management of the value of Rs.2600 crores. The company offers various types of plans to suit the requirement of every individual.
#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply
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Future Generali Life Insurance offers two types of term insurance plans to its customers. While one plan is available online, the other can be bought through other channels. Let us take a look at the term plans available with the company.
An online term insurance plan which provide flexible benefits. The features and benefits of the plan are as follows:
| Minimum | Maximum | |
| Entry Age | Basic Life Cover - 18 years Income protection – 25 years | 55 years |
| Maturity Age | Basic Life Cover - 28 years Income protection – 45 years | 65 years Non-smokers – 75 years |
| Policy Term | 10 years | 65 – age at entry Non-smokers – 75-age at entry |
| Sum Assured | Rs.50 lakhs | No limit |
| Premium Payment Term | Equal to policy term | |
| Premium Payment Frequency | Yearly | |
Your premium is decided on age at which you buy the policy and remains same, throughout your life
Premiums can increase between 4-8% each year after your Birthday
Your policy application could be rejected or premiums increase by 50-100%, if you develop a lifestyle disease
A term insurance plan at cheap rates of premiums. The features and benefits of the plan are as follows:
| Minimum | Maximum | |
| Entry Age | 18 years | 60 years |
| Maturity Age | - | 65 years |
| Policy Term | 5 years | 30 years |
| Sum Assured | Classic Option – Rs.10 lakhs Premier option – Rs.25 lakhs | Classic Option – Rs.24, 99, 999 Premier Option – No limit |
| Premium Amount | Classic Option – Rs.2500 Premier option – Rs.5000 | |
| Premium Payment Term | Equal to policy term | |
| Premium Payment Frequency | Yearly, half-yearly or monthly | |
Note: Check all the best term insurance plan in India.
Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.
Decreasing term life insurance, also known as mortgage life insurance, is a kind of insurance that you buy to cover your loans and mortgages. As a result, the value of your decreasing plan should be equal to the loan amount and the term of the policy should be similar to the loan repayment term. Since a decreasing term plan doesn’t have a return component and the sum assured keeps decreasing throughout the policy period, it makes no sense to buy such a plan if you do not have a loan or a mortgage. These kinds of life insurance policies are also considerably cheaper and so it becomes easy for people from all walks of life to buy decreasing term life insurance plans.
Future Generali offers specific plans which are available online only. The customer only needs to log into the company’s website, choose the required plan, choose the coverage and provide the details. The premium will be determined using the filled details. The customer then needs to pay the premium online through credit card, debit card or net banking facilities and the policy will be issued
Plans which are not available online can be purchased from agents, brokers, banks, etc. where the intermediaries help with the application process.
To know more about other life insurance plans check at Future Generali Life Insurance
You can deposit the cash before the due date to renew it automatically.
˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
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