Future Generali Life Insurance - Check & Compare Policies Online in India
- Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
- Claim up to Rs. 1,50,000 deduction under section 80C**
- Choose between annual and monthly premium payment options
Future Generali is a popular insurance providers that offers a wide range of insurance products to Indian citizens. The company offers Unit Linked Insurance Plans, Term Life Insurance Plans and Whole Life Insurance Plans, Car Insurance, Travel Insurance, Group Insurance, and Health Insurance Plans. These plans offer flexibility and can be customised to suit requirements of individual customers.
The company is a joint-venture between Future Group, the Generali Group and Industrial Investment Trust Limited. Generali Group is one of the largest companies in the world and operates in the financial markets and insurance domain. Established in Trieste, Italy, Generali is among the top 50 largest companies in the world and has its operations in several of the world’s leading markets. The Future Group is a popular company that runs famous retail chains in India including Food Bazaar, Big Bazaar, eZone and Home Town.
The group company operates in the investment and financial products space and aspires to provide customers with comprehensive and customised investment solutions, and has risen to become one of the most popular players in the Indian market.
Future Generali Life Insurance Plans
| Future Generali Term Plans | Future Generali ULIP Plans | Future Generali Savings/Investment Plans | Future Generali Pension/Retirement Plans | Future Generali Group Plans | Future Generali Guaranteed Plans |
|---|---|---|---|---|---|
| The Future Generali Flexi Online Term Plan | Future Generali Easy Invest Online Plan | Future Generali Assured Plus Insurance Plan | Future Generali Immediate Annuity Plan | Future Generali Group Superannuation Plan | Future Generali Big Income Multiplier |
| Future Generali Care Plus Plan | Future Generali Dhan Vridhi Plan | Future Generali Triple Anand Plus Plan | Future Generali Pension Guarantee | Future Generali Group Leave Encashment Plan | Future Generali Pearls Guarantee |
| Future Generali Wealth Protection Plan | Future Generali New Saral Anand | Future Generali Group Gratuity Plan | Future Generali Assured Income Plan | ||
| Future Generali Bima Advantage Plus | Future Generali Group term Life Insurance Plan | Future Generali Saral Bima | |||
| Future Generali Bima Gain | Future Generali Loan Suraksha | Future Generali Assured Money Back Plan | |||
| Future Generali Pramukh Nivesh ULIP | Future Generali Assured Education Plan |
Highlights of Future Generali Life Insurance Updated on 30 Sep 2023
| Percentage of Grievances Solved | 95.15% |
| Claim Settlement Ratio | 95.15% |
| Group Death Claims | 99.40% |
| Solvency Ratio | 1.61 (for the quarter ended March 2018) |
Features of Future Generali Life Insurance Policies
Some significant features of Future Generali Life Insurance policies are mentioned below:
- Offers a large range of plans with different benefit structures, pay out options, etc., to cater to different needs of the customers
- Provides flexibility in choosing the policy term and premium payment options
- Allows customers to choose high sum assured amounts
- Some plans offered by Future Generali have an extended policy term
- Future Generali has a claim settlement ratio of 95.15%
Why You Should Go For Future Generali Life Insurance Plans?
There are many general insurance providers in India, each offering an array of insurance plans ranging from life insurance, health insurance, term insurance and more. Future Generali is known to offer customised plans to its customers, along with flexibility in premium payments and higher returns against premiums. Let us look at the common benefits under various plans offered by Future Generali:
- Future Generali offers plans under an array of instruments. From group plans to savings and retirement plans, you can find the perfect plan to suit your needs.
- Customers can apply for these plans in an easy and convenient manner – the entire process can be completed online in simple and easy steps.
- The Future Generali Term Insurance Plans in particular offer discounted premiums for women and higher returns against lower premiums.
- Future Generali has a highly active and efficient Customer Service Centre that is always open to answering any queries or concerns that customers have.
- Future Generali offers specific plans pertaining to education and retirement to enable customers to get much needed benefits after the maturity of the plan. The retirement plan in particular offers fixed income on a monthly basis after retirement.
- Insurance plans offered by Future Generali offer tax benefits – this depends on the premiums paid and the sum insured.
- Future Generali Unit Linked Insurance Plans offer investment options along with insurance covers, enabling customers to make the most of their investment. Funds from Unit Linked Insurance Plans can be partially withdrawn after a period of 5 years to let customers address any urgent emergencies. These plans also let customers to move from one fund to another, letting them make the most of their investment component in a Unit Linked Plan.
- Future Generali Group Plans allow companies to extend benefits to their employees. Popular Group Insurance Plans offered by Future Generali include the Group Superannuation Plan, retirement pensionand the Group Term Life Insurance Plan.
- The settlement of claim is also easy and convenient. Future Generali has maintained an impressive track record in speedily responding to customer claims.
Different types of Policies Provided by Future Generali
Future Generali Savings Plans
Future Generali Assure Plus Plan: It is a traditional life insurance plan that offers death benefit and maturity benefit. The features of this plan are mentioned below:
| Entry age | 3 years to 55 years |
| Age at maturity | 18 years to 70 years |
| Policy term | 15 years, 20 years, or 25 years |
| Minimum sum assured | Rs.1 lakh |
| Maximum sum assured | Rs.5 crore |
Future Generali Triple Anand Advantage: This plan offers life cover till the age of 80 years along with triple benefits i.e. a fixed money back offer, maturity benefit, and a lump sum when the insured individual turns 80 years old. In case of the policyholder’s death, the death benefit will be paid to the nominee. Some of the notable features of this traditional plan are:
| Entry age | 7 years to 50 years |
| Maturity age | 27 years to 75 years |
| Policy term | 20 years or 25 years |
| Minimum sum insured | Rs.2 lakh |
Future Generali New Saral Anand: It is a traditional plan that provides an extended life coverage till the age of 100 years. Policyholders can avail a maturity benefit at the end of the policy term and a lump sum upon attaining the age of 100 years. The death benefit will be paid to the nominee if the policyholder dies during the policy term.
| Entry age | 3 years to 50 years |
| Maturity age | 18 years to 70 years |
| Policy term | 15 years to 20 years |
| Minimum sum insured | Rs.1 lakh |
Future Generali New Assure Plus: This traditional plan allows the policyholder to choose between 2 death benefit options. It also allows them to enhance the maturity benefits through bonuses. Some of the significant features of this plan are:
| Entry age | 3 years to 55 years |
| Maturity age | 18 years to 70 years |
| Policy term | 10 years to 30 years |
| Minimum sum insured | Rs.1 lakh |
| Maximum sum insured | No limit |
Future Generali ULIP Plans
Future Generali Big Dreams Plan: It is a unit linked, non-participating life insurance plan. This policy offers higher returns with 3 investment options along with a life cover. It also allows policyholders to avail systematic partial withdrawal according to their needs. The features of this plan are:
| Entry age | 18 years to 55 years |
| Policy term | 5 to 20 years |
| Minimum annual premium | Rs.18,000 |
| Sum insured | 10x annualized premium |
Future Generali Easy Invest Online Plan: It is unit-linked, endowment plan that offers life insurance coverage. This policy allows the insured individual to partially withdraw money from the plan after 5 years along with the flexibility to switch plans.
| Entry age | 0 years to 60 years |
| Maturity age | 18 years to 70 years |
| Policy term | 10 years to 20 years |
| Minimum annual premium | Rs.40,000 |
| Sum assured | 10x annualized premium |
Future Generali Dhan Vridhi: It is a limited premium, unit-linked insurance policy that offers 6 fund options for the policyholder to choose from. Some features of this policy are:
| Entry age | 8 years to 50 years |
| Maturity age | 18 years to 70 years |
| Policy term | 10 years, 15 years, or 20 years |
| Minimum annual premium | Rs.20,000 |
Future Generali Wealth Protect Plan: It is a unit-linked plan which offers a high life coverage along with investment options. This plan offers loyalty addition upon maturity and partial withdrawals after 5 years. Some its notable features are:
| Entry age | 7 years to 60 years |
| Maturity age | 22 years to 75 years |
| Policy term | 15 years to 40 years |
| Minimum annual premium | Rs.25,000 |
Future Generali Bima Advantage Plus: It is a unit linked, limited premium life insurance policy. This policy offers maturity benefit and death benefit. The Bima Advantage Plus plan also allows policyholders to switch between funds based on their risk appetite.
| Entry age | 7 years to 65 years |
| Maturity age | 18 years to 75 years |
| Policy term | 10 years to 30 years |
| Minimum annual premium | Rs.20,000 |
Future Generali Bima Gain ULIP Plan: This ULIP plan helps policyholders in wealth creation while offering a life cover as well. On reaching the maturity date, policyholders can avail the fund value as the benefit. The death benefit consists of the sum assured along with the fund value.
| Entry age | 8 years to 65 years |
| Maturity age | 18 years to 75 years |
| Policy term | 10 years |
| Minimum lump sum premium | Rs.20,000 |
| Minimum sum assured | 1.25x Premium paid |
Future Generali Pramukh Nivesh ULIP Plan: This is a single premium life insurance plan that invests your entire premium into the funds of your choice without any allocation charges. This plan offers death benefit as well as maturity benefit.
| Entry age | 7 years to 70 years |
| Maturity age | 18 years to 75 years |
| Policy term | 5 years to 20 years |
| Minimum lump sum premium | Rs.50,000 |
| Minimum sum assured | 1.25x Premium paid |
Future Generali Term Insurance Plans
Flexi Online Term Plan: It is a term plan that offers three pay out options for the death benefit I.e. lump sum, monthly income, and increasing monthly income.
| Entry age | 18 years to 55 years |
| Maturity age | 28 years to 75 years |
| Policy term | 10 years to 75 years |
| Minimum sum assured | Rs.50 lakh |
Express Term Life Plan: This term plan offers 4 benefit structures for the consumer to choose from i.e. life cover, extra life cover, life plus health cover, and extra health cover.
| Entry age | 18 years to 65 years |
| Maturity age | 23 years to 80 years |
| Minimum sum assured | Rs.25 lakh |
Future Generali Care Plus: It is a term plan that offers high coverage at affordable premium rates. Customers can choose between Care Plus Classic plan and Care Plus Premier plan based on their desired sum assured.
| Entry age | 18 years to 65 years |
| Maturity age | Up to 75 years |
| Policy term | 5 years to the age of 85 years |
| Minimum sum assured | Rs.10 lakh |
Term Plan with Return of Premium: It is a term insurance plan that allows customers to choose from different benefit structures. This plan provides 100% of the paid premiums as a maturity benefit to the policyholder.
| Entry age | 18 years to 55 years |
| Maturity age | 28 years to 75 years |
| Policy term | 10 years to 15 years |
| Minimum sum assured | Rs.2 lakh |
POS Term with Return of Premium: It is a term insurance plan that provides death benefit and maturity benefit. This plan also allows customers to choose their own policy term and premium payment term.
| Entry age | 18 years to 50 years |
| Maturity age | 28 years to 65 years |
| Policy term | 10 years to 35 years |
| Sum assured | Rs.2 lakh to Rs.10 lakh |
Future Generali Child Plans
Assured Education Plan: This plan allows parents to save money on a monthly or yearly basis for their child’s education. The parent is the life insured in this plan.
| Entry age | 0 years to 10 years |
| Maximum Policy term | 17 years |
| Annual premium | Rs.20,000 |
Future Generali Retirement Plans
Future Generali offers the following retirement plans to help customers plan their finances and have a steady source of income in their retirement period.
| Plan name | Entry age | Policy term | Minimum price/premium |
| Immediate Annuity Plan | 40 years to 80 years | Lifetime | Rs.30,000 |
| Pension Guaranteed | 20 years to 70 years | 10 years to 20 years | Rs.11,000 |
Future Generali Rural Plans
Future Generali offers the following rural insurance plans that provide life coverage at low premium rates.
| Plan name | Entry age | Policy term | Premium |
| Jan Suraksha Plus | 18 years to 50 years | 8 years | Rs.2,500 to Rs.5,000 |
| Jan Suraksha | 18 years to 50 years | 8 years | Rs.500 to Rs.750 |
Future Generali Group Plans
Sampoorn Loan Suraksha: This insurance caters to organisations which provide loans to their members. It offers financial protection to the borrowers. Some of the features of this plan are:
| Entry age | 14 years to 70 years |
| Policy term | 2 years to 30 years |
| Sum assured | Rs.20,000 and above |
| Premium payment term | Single premium |
Group Superannuation Plan: This insurance policy is aimed at companies that offer superannuation benefits to their employees or members.
| Entry age | 18 years to 79 years |
| Minimum group size | 10 members |
| Maturity age | 19 years to 80 years |
| Minimum contribution at inception | Rs.2 lakh |
Group Leave Encashment Plan: This policy is designed for companies that offer leave encashment benefit to their members.
| Entry age | 18 years to 69 years |
| Maturity age | Up to 70 years |
| Minimum contribution at inception | Rs.5 lakh |
Group Gratuity Plan: This policy caters to companies and organisations which provide gratuity benefits to their members.
| Entry age | 18 years to 69 years |
| Maturity age | Up to 70 years |
| Minimum contribution at inception | Rs.5 lakh |
Group Term Life Insurance Plan: This plan is specifically designed for organisations that offer life insurance cover to their members.
| Entry age | 18 years to 69 years |
| Maturity age | Up to 70 years |
| Minimum permium per group | Rs.2,500 |
Comprehensive Employee Benefits Plan: This policy provides a comprehensive solution for all employee benefits like leave encashment, gratuity, etc.
| Entry age | 18 years to 79 years |
| Maturity age | Up to 80 years |
| Sum assured | Rs.5,000 per member |
Loan Suraksha: This plan offers a life cover to loan borrowers to secure the credit. Some of the features of this plan are:
| Entry age | 18 years to 65 years |
| Maturity age | Up to 70 years |
| Policy term | 2 years to 30 years |
| Minimum Sum assured | Rs.20,000 |
How to Make a Claim With Future Generali
When it comes to making a claim, there are multiple ways in which claims can be initiated. This is that process that can be followed to make a claim against a Future Generali policy:
- Make a claim online: To make a claim online, a visit to the company’s website will be required. There, find the option that says Make A Claim. Fill up the form that is provided with details of the policy like the policy number, your details and the details of the Life Assured including a description of the event. Once the you are sure that all the relevant details have been provided, submit the form.
- Over the phone: To start the process of making a claim, you can call the customer care helpline on 18001022355.
- Over email: You can also send a mail to the company informing them that you wish to initiate a claim. The email can be sent to: care@futuregenerali.in.
- In person: You can also go to any of the Future Generali offices and ask to start a claim.
Once you have informed the company, you will be requested to fill out the form to make that claim and informed about the documents that will be required to process the claim.
Claim Settlement Ratio of Future Generali Life Insurance
Claim settlement process in Future Generali is simple, and it can be initiated simply by calling the company’s customer service department. Its claim settlement ratio for the fiscal year 2017-18 is as follows:
| No. of claims received | No. of claims approved | Claim settlement ratio |
| 1,366 | 1,223 | 95.15% |
Claim settlement ratio trend over the years:
| Year | 2011-12 | 2012-13 | 2013-14 | 2014-15 | 2015-16 | 2016-17 | 2017-18 |
| Settlement Ratio | 68% | 71% | 75% | 84% | 90% | 90% | 95% |
Documents Required for Buying Future Generali Life Insurance Policy
In order to purchase a life insurance policy from this company, you will have to provide certain documents. You will also have to comply with the KYC requirements of the company. While the documents needed for each individual policy can differ, a general list of documents that could be needed would include:
- Proof of age: documents like Aadhaar cards, voter ID cards, driving licenses and other identity cards issued by the government can work for this purpose.
- Proof of address: document such as utility bills and government ID cards like drivers licenses can serve this purpose.
- Proof of identity: any identity document issued by the government would work. Such documents could include Aadhaar cards, drivers licenses and voter ID cards.
How to Check Policy Status?
You can check the policy status online or offline. These checks will require you to either log into the company website or call the customer care.
Online: To check the status of the policy online, you can log into your E-Insurance Account. There you will be able to see everything related to your chosen policy. You will also be able to use this facility to purchase a new policy, if you wish to.
Over the phone: To check the policy status over the phone you will have to contact the company’s customer care department. You can do that using a toll free number 18001022355.
In person: If you are unable to use the online and telephonic facilities, you can alway approach the closest Future Generali office and ask them to help you check the status of your policy.
Future Generali Online Payment
In order to make payments easier and more convenient, Future Generali allow for payments to be made online. To that end it offers two online payment options:
Auto Pay System: This is an auto debit facility that can be used to authorise the company to automatically debit your account for the sum of the premium. It can also be linked to a credit card that will then be charged when it's time to pay the premium.
Quick Pay: This is the quicker method that can be used to pay the premiums. This method will allow you to pay the premiums using your debit or credit cards. You can even use net banking to pay premiums through this facility.
Future Generali Premium Calculator
Future Generali provides two calculators; the Human Life Value Calculator and the Premium Calculator or the Benefit Illustration.
Human Life Value Calculator: This is a tool that allows you to calculate how much money you need to put aside for the future. It can be used to calculate how much you would need for situations like retirement or the education of your children. It uses your current income and expenses to tell you how much more you will need by the time the planned events arrive.
Premium Calculator: Also known as the Benefil Illustration, this calculator allows you to calculate the premium that you will have to pay for the ULIP and traditional plans offered by the company.
Future Generali Life Insurance FAQs
Q. I want to open an E-Insurance Account. Do I need to buy an insurance policy first?
A. No you will not have to buy a policy to get an E-Insurance Account.
Q. What do I do if I have lost my Policy document?
A. If you have lost your policy document and would like another copy, you will have to provide an indemnity document on a non judicial stamp paper following the format prescribed by the company.
Q. How does the claim process actually work?
A. Once you have informed the company about the claim and submitted the documents needed, it will take about 10 days for the company to come to a decision about your claim. If all goes well the payout should be completed at the earliest possible.
Q. How will I receive the payment?
A. Once a claim has been approved, the payment can be made directly to your bank account or you can opt for a cheque for the benefit amount.
Q. What if I am not happy with the decision the company has take regarding my claim?
A. If you are not happy then you can approach the Claims Review Committee, which is an independent body that will review the claim.
Q. I got my policy documents but I don’t want it anymore? Can I surrender the policy?
A. If you are not going to keep the policy, you will have 15 days from the date on which you received the document to surrender it. If you got the policy through distance marketing, then you will have 30 days to surrender it.
Q. What happens if I miss my premium payments?
A. If you miss your premium payments, depending on the policy in question, you will have up to 2 years to make the payment, from the date of the last missed payment. You cannot reinstate a policy if you don’t pay the premium within this term.
Q. What if I can’t afford the annual premiums?
A. If you feel that you won’t be able to pay the annual premium as a lump sum, you can opt to pay it on a monthly basis too. However, this option is not available for all policies so you might want to check before you buy the policy.
News About Future Generali India Life Insurance
-
Future Generali India Life insurance rolls out a new Unit linked Insurance Plan
Extending their life insurance portfolio, Future Generali India Life Insurance has recently rolled out a new Unit Linked Insurance Plan. Called Big Dreams Insurance Plan by the life insurer, the plan comes with the benefit of having a life cover as well as being treated as an investment for the policyholder. Based on the details of the plan as announced by Future Generali India Life Insurance, for every premium payment made by the policyholder, he/she gets an additional asset allocation, a way of getting the policyholder to stay invested in the plan for a long period by Future Generali India Life Insurance. Along with the premium payment for the Big Dreams Insurance plan rolled out by Future Generali India Life Insurance, the policyholder will have to pay for the fund management fees and mortality charges. Other than the two aforementioned charges and the premium payment, the Big Dreams Insurance Plan by Future Generali India Life Insurance does not have any other charges.
5 December 2018
-
Future Generali Life Insurance launches its diwali campaign
Future Generali Life Insurance has launched its digital initiative #YehDiwaliLessSugarWali which urges father in India to give importance to their health and cut down on their intake of sweets during Diwali.
This is a strategic move by the insurance company to focus on fathers health. The initiative tries to drive home the point that fathers in their bid to provide for their family do not give that much importance to their health.
The insurer through its previous campaigns on Father’s Day and Rakshabandhan has been targeting fathers and asking them to give primary importance to their health as they work hard to provide for their family. The previous campaign #AapkiHealthMereLiye was a huge success as it garnered a reach of 50 million and 15 million views.
8 November 2018
The content on this website is meant only for general information purpose and does not and shall not be construed as any solicitation, procurement, display, aggregation, marketing or advertisement of insurance products. BankBazaarInsurance is not an insurance intermediary and hence does not endorse or solicit any such products. The information on this website is derived from publicly available sources and BankBazaarInsurance cannot verify or confirm the genuineness, truth, veracity or authenticity of this information.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.
