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