Future Generali Life Term Insurance Plans

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.

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Future Generali Term Plan Insurance

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.

Future Generali Flexi Online Term Insurance Plan

An online term insurance plan which provide flexible benefits. The features and benefits of the plan are as follows:

  • The plan can be bought thereby reducing unnecessary hassles
  • Premiums under Future Generali term insurance plan are required to be paid for the entire duration of the plan
  • The death benefit can be chosen from among the multiple benefit options available with the company.
  • The policyholder may choose the Basic Life Cover option in which case a lump sum payout will be paid on death of the insured during the tenure
  • Under the Income Protection Option, the policyholder may further choose either Fixed Income Protection option or Increasing Income Protection Option. Under this option, in case of death, a fixed monthly amount is paid to the family till the policyholder would have attained 60 years of age. This amount is fixed under the Fixed Income Option or increases by 10% annually in the Increasing Income Protection Option.
  • The policyholder may also choose to create his customized plan under the My Protection Plan Option. There are two death benefit options under this variant namely Fixed Income Protection + Basic Life Cover and Income Protection Option + Basic Life Cover. Under these options, a lump sum benefit will be paid on death and monthly incomes will start either at a fixed rate or at an increasing rate as chosen.
  • Preferential premium rates for non-smokers and lower rates for female lives
  • Discount in premiums for choosing higher Sum Assured levels
  • Tax exemption is available on the amount of claim and amount of premium

Eligibility Details

  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
Why buy Term Insurance early?

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

See how age affects Term Insurance Premiums
See how age affects Term Insurance Premiums
Premium 479/month
Age 25
Age 50
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Future Generali Term Insurance - Care Plus

A term insurance plan at cheap rates of premiums. The features and benefits of the plan are as follows:

  • Premiums under the plan are required to be paid for the entire duration of the plan
  • The plan has two variants of Classic and Premier depending on the level of Sum Assured. The Classic Option is for Sum Assured ranges up to Rs.24, 99, 999 and the Premier Option is for ranges of Rs.25 lakhs and above
  • In case of death of the insured during the tenure of the plan the death benefit is payable which is higher of 10 times the annual premium or the Sum Assured or 105% of all premiums paid till the date of death.
  • Discount in premiums for choosing higher Sum Assured levels of Rs.15 lakhs and above
  • Future Generali Non-Linked Accidental Death Rider is available to enhance the protection under the plan
  • Policyholder can enjoy tax exemptions on the premium outgo and also on the claim

Eligibility Details

  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

How much Decreasing Term Life Insurance coverage do you need?

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.

Applying for a Term Plan from the company:

  • Online

    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

  • Intermediaries

    Plans which are not available online can be purchased from agents, brokers, banks, etc. where the intermediaries help with the application process.

Types of Term Plans


Applying For Term Insurance through PolicyBazaar

  • On the PolicyBazaar homepage, click on Term Insurance under the Personal tab.
  • Click New Quotes to compare term plan
  • Fill your date of birth (DOB), whether you are a smoker/non-smoker, and the payout amount. On the basis of your payout amount, you will get an estimate of your premium. Next click Continue.
  • Fill in your name, email address, city, country code, and mobile number. Click Continue.
  • You will be taken to the Life Insurance quotes page where you will see life insurance quotes of more than 10 insurers. Next, choose the plan as per payment schedule – One Time Payout and Monthly Payout Plans.
  • After reviewing and comparing each life insurance quote, click the premium amount to buy the desired plan.
  • You will see a pop-up on the screen which will give you an overview of the chosen plan like premium, plan features, exclusions, additional riders, etc. Click Proceed.
  • This will take you to the insurer’s website. You will have to fill in the necessary details to buy the plan.

To know more about other life insurance plans check at Future Generali Life Insurance

Why buy from Policybazaar?
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In case you aren’t happy with your purchase, you can cancel your policy from MyAccount hassle-free at the click of a button.

Future Generali Term Insurance Plans - FAQs

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Future Generali Life Term Insurance Plans Reviews & Ratings

4.1 / 5 (Based on 27 Reviews)
(Showing Newest 10 reviews)
Akosh
Atroliya, February 16, 2021
Discounts available
I have availed a huge discount when I bought the future generali term insurance policy. It is easy to get and I bought it online from the website of the policybazaar. Thanks team.
Raahul
Baragarh, February 16, 2021
One plan and best plan
I recently bought a term insurance plan from the policybazaar and it is a one plan with so many safety features. I am satisfied and happy that after me atleast this term plan would be there to support my family. Thanks.
Fardin
Baramullah, February 16, 2021
Online payment process
I recently bought a future generali term insurance plan from the policybazaar. It was easy and quick and I always make the payment online basis. Much easy to secure your life.
Divya
Gadag, August 22, 2016
Fine Insurance
This is very good insurance policy i purchased from future generali insurance. Service you provided is fantastic and on time too. Claims are good and policy coverage is approx. 89%. Updates are mailed regularly and online renewals option is very beneficial which can be done through online portal.
Rahul
Gurdaspur, July 19, 2016
Manageable Policy
Future generali life insurance is one of the best insurance company. The term plan of it is very convenient and very beneficial too. Services you provide is fabulous and it always on time. Policy coverage is high as claims are which is easy to sanctioned.
Lokesh
Jhumri_tillaiya, July 08, 2016
Term plan
The term insurance plan of mine is great with low premiums and claims are the best which easily sanctioned due to fast service facilitate by the executives and the staff members go the company. The updates and renewal of the policy can be done by online portal service.
Prabhjot
Ajmer, June 28, 2016
Good Deal
I have term insurance plan which I purchase in very low premium. The service is good and claims are high. Online portal service is nice with easy interface, anyone can access it easily. Policy coverage is high and claims are sanctioned easily due to fast service provided by you guys.
Bhavya
Ratnagiri, June 06, 2016
Awesome
My future generali life term insurance plan is awesome. The policy coverage is high ~92% and the claims are high after policy get mature. Claims are easily sanctioned because of fast services provided by the executives. Fantastic policy which provides good terms and conditions. Daily updates mailed to me timely. I like the plan.
Nitin
Ooty, June 06, 2016
High Returns
Great term insurance policy I got from future generali India life insurance. They has good speed and responsive for any query and for any help. Policy coverage is 86% and the claims are good with easy claiming process. The investment is good and it saves taxes also. Good investment.
Manish
Nagpur, June 06, 2016
Manageable
Policy coverage is less ~67% and the premiums are high paid quarterly. Service is bit slow provided by staff members of the company. The claims are cleared due to good response from the executives. Please improve your policy coverage for better performance. My future life term insurance plan is satisfactory for me. I like the policy.
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