Future Generali Accelerated Critical Illness Rider

• Reduce taxable income by up to Rs. 1,50,000 deduction under section 80C**
• Convenient payment options - annual, half-yearly, quarterly or monthly premium payments
• Do more with plans that offer pure protection, retirement planning and investment options

 You can enhance your basic life insurance policy with the Future Generali Accelerated Critical Illness Rider. The Future Generali Accelerated Critical Illness Rider is a special rider under which the policyholder receives benefit when they become critically ill during the policy term. Once the sum assured is paid following a similar event, the benefit of this rider as well the as the premium that the policyholder pays for this ceases. This rider is a furtherance to the benefits of the basic policy that is paid on the unfortunate event of the death of policyholder during the policy term. Hence, when a policyholder claims for a settlement under the Future Generali Accelerated Critical Illness Rider, the sum assured of the basic policy will decrease by an amount that would be equal to the sum assured for the critical illness. The premium that the policyholder has to pay for the benefit of the basic policy will also decrease.

Eligibility - Who is the Future Generali Accelerated Critical Illness Rider for?

New or existing customers of Future Generali Life Insurance can add Future Genrali Accelerated Critical Illness Rider to the following base policies:

• Future Generali Assure Plus
• Future Generali Triple Anand Advantage
• Future Generali New Saral Anand
• Future Generali Bima Gain
• Future Generali Assured Income Plan
• Future Generali Saral Bima
• Future Generali Jan Suraksha Plus
• Future Generali Jan Suraksha Plus
• Future Generali Immediate Annuity Plan
• Future Generali Pension Guarantee

To purchase Future Generali Accelerated Critical Illness Rider, you have to meet the following eligibility criteria:

Sum Assured and Premium Range – What you get and how much it costs?

The premium payable and the sum assured under this rider depends on the base policy chosen by the policyholder. The rider premium rates are fixed for 5 years, after which they can be revised. If you want to discontinue rider benefit, you can stop paying the rider premium. Once the rider is discontinued, it can’t be reinstated.

The rider term is never more than the base policy term and the rider PPT is equal to the base PPT if the rider was added to the base policy at the time of inception or policy anniversary.

The premium payment mode is same as that of the chosen base policy, annual or monthly. If you choose the monthly payment mode, you will have to pay 3 months’ premiums in advance on the policy commencement date. These advance premiums are not refunded except in the case of free look cancellation.

Plan Coverage - What the Future Generali Accelerated Critical Illness Rider covers?

The benefits available under Future Generali Accelerated Critical Illness Rider are:

• Benefit payout: If the policyholder is diagnosed with any of the below listed critical illnesses, they will be paid a lump sum amount equal to the rider sum assured immediately after diagnosis, irrespective of the actual medical expenses incurred during treatment.
• Critical Illness Cover: Under Future Generali Accelerated Critical Illness Rider, the following critical conditions are covered:

• Cancer: A tumour that is malignant and has an uncontrolled growth and spreads destroying normal tissues. The diagnosis should be backed by documents that prove the malignancy of the tumour and should be confirmed by a pathologist or an oncologist.
• Stroke
• First heart attack of specified severity
• Kidney Failure
• Major organ transplant
• Heart Valve Surgery
• Aorta Surgery
• Major Burns
• Paralysis

Once the rider sum assured is paid, the critical illness benefits will cease under this rider and no more premiums need be paid.

Exclusions - What the Future Generali Accelerated Critical Illness Rider does not include?

Future Generali Accelerated Critical Illness Rider doesn't cover critical illnesses if caused directly or indirectly by the following:

• Any disease, illness, injury or medical condition that the life assured had contracted before the commencement or revival date of the rider policy.
• Any medical condition that was not disclosed in the base policy proposal form.
• Diagnosis or medical advice given by a health professional or symptoms of a condition that was ignored or delayed medical treatment.
• War, terrorist attacks and the like.
• Riot, civil unrest, rebellion, revolution and the like.
• Participation in peacekeeping activities or any sort of armed forces.
• Any unlawful or criminal act.
• Self-inflicted injury, suicide or attempted suicide.
• Drug abuse except under the direction of a registered medical practitioner.
• Disease caused due to an HIV infection or AIDS.
• Nuclear explosion, nuclear waste or radiation exposure.
• Participation in sporting activities like racing, scuba-diving, bungee-jumping, parachuting, hang-gliding, skydiving, etc. Any aerial flight activities other than as a crewmember or passenger on a commercial plane.

Other Key Features of Future Generali Accelerated Critical Illness Rider:

Listed below are few other important features of Future Generali Accelerated critical Illness Rider:

• Claim waiting and Survival Period: The rider benefit can be claimed only if the illness is diagnosed after a waiting period of 90 days which starts from the date of Rider Risk Commencement or policy reinstatement, whichever is later. In addition, the life assured has to survive the illness for a period of 30 days starting from the date of diagnosis. Claim has to be given in writing to the company within 60 days of the claim arising.
• Grace Period: You are given a grace period of 30 days for paying the rider premium if your chosen premium payment mode is annual or half-yearly. For monthly payment mode, you are given 15 days (starting from the premium payment due date) to pay your rider premium. Grace period for Future Generali Accelerated Critical Illness Rider follows the same rules as the chosen base policy. If the payments are not made within the grace period and the base policy hasn’t achieved Surrender Value, then the base policy will lapse and the benefits under this rider will cease.
• Free look Period: After buying the policy, you are given 15 days from the date of receipt of the rider document to review the terms and conditions of the rider. If you find the terms and conditions objectionable then you can return the rider policy and claim premium refund. The rider premium will be refunded after the risk premium for the appropriate time covered and stamp duty charges are deducted. If you have purchased the rider through distance marketing, you will be given 30 days to review the terms and conditions of the rider. Once the rider policy is cancelled, all benefits under the policy will cease.
• Revival of rider benefits:  If the rider is discontinued or terminated, then it can’t be revived. Reinstating the Future Generali Accelerated Critical Illness Rider benefits follows the same rules as the chosen base policy. You can restore the rider benefits to its original state by reviving the rider during the policy term within 2 years from the time you stopped paying premium.
• Termination: The rider will be terminated automatically if the rider premium is not paid within the grace period, the base policy is surrendered or terminated, and 100% of Sum Assured is paid under the rider.

Tax Benefits - How you can save with the Future Generali Accelerated Critical Illness Rider?

With Future Generali Accelerated Critical Illness Rider, you can get tax benefits on rider premiums paid under section 80D and on lump sum payouts under section 10(10D) of the Income Tax Act, 1961.

Other Benefits - How you can save with the Future Generali Accelerated Critical Illness Rider?

Listed below are reasons why buying life insurance plans and rider policies from Future Generali Insurance Company Limited is easy and convenient:

• Policy notification: You can get policy related information via SMS on your registered mobile number with Future Generali Life Insurance. The company will send SMS or email notifications regarding the confirmation of policy renewal payment, change of nominee, and change in contact details, etc.
• Easy premium payments: Online payment methods include e-wallet, net banking, credit card or debit card. Other premium payment modes include:
  • Auto-Debit Arrangement
  • NEFT or RTGS
  • Cheque, DD or cash deposit at Future Generali Life Insurance
• Life Cover and Premium calculator: You can determine how much life cover you need and premium you have to pay using online life cover and premium calculators that are available on the Future Generali Life Insurance website.

Why should you buy Accelerated Critical Illness Rider from Future Generali Life Insurance Company Limited?

The Future Group has been the leaders in the story of growth and development of India's retail industry for more than 25 years. Generali is an Italian Group with a strong presence across the world. It was established in the year 1831 and is one of the world's leading insurance companies. Total premium paid to the group by its customers exceeds 70 billion pounds (as recorded last year).

The Future Generali Group covers more than 450 renowned corporate companies such as NABARD, Jet Airways, United India Insurance, Adidas, among others. The investment team of the group manages assets worth more than Rs.2,600 Crore. Their products offered by the group are simplified and have the option to customize according to the policyholder's financial needs.