Future Generali Express Term Life Plan
Future Generali India Life Insurance
Our Verdict
Future Generali Express Term Life Plan is ideal for those seeking customizable term insurance with health and accident benefits. It offers extensive coverage options but may have higher premiums for added features.
About the Plan
Future Generali Express Term Life Plan is a non-linked, non-participating term insurance policy offering four coverage options: Life Cover, Extra Life Cover (includes accidental death benefit), Life Plus Health Cover (adds critical illness benefit for 34 illnesses), and All-In-One Cover (combining all benefits). It provides flexible policy terms, coverage up to age 85, and includes inbuilt benefits for terminal illness and accidental total permanent disability. This plan ensures comprehensive financial security for the policyholder’s family with customizable protection options.
About the Plan
Eligibility
• Minimum Sum Assured :
₹25 lakhs
• Maximum Sum Assured :
No limit (subject to underwriting)
• Accidental Death Sum Assured :
₹5 lakh to the lesser of the total sum assured or ₹2 crore
• Critical Illness Sum Assured :
₹5 lakh to the lesser of 50% of the sum assured or ₹1 crore
• Entry Age :
Varies based on plan option, typically 18 to 65 years
• Maximum Maturity Age :
Option 1 & 2: Up to 85 years
Option 3 & 4: Up to 80 years
Eligibility
Features of the Product
Terminal Illness
Covered under Option 1 (Life Cover).
If diagnosed, the sum assured is paid, and the policy terminates.
Total Permanent Disability Payout
If the policyholder suffers Accidental Total Permanent Disability (ATPD), all future premiums are waived.
Premium Payment Customizations
Available in Regular Pay and Limited Pay options.
Policy term up to 85 years (depending on the chosen option).
Exclusions
If the insured dies due to suicide within 12 months, only 80% of premiums paid or surrender value (whichever is higher) is refunded.
No payout for critical illness if it is linked to a pre-existing condition (diagnosed within 48 months before policy commencement or reinstatement) unless disclosed and accepted by the insurer.
Exclusions
Accidental Death - Available under Option 2 (Extra Life Cover) and Option 4 (All-in-One Cover).
Provides an additional lump sum payout in case of death due to an accident
Critical Illness - Covered under Option 3 (Life Plus Health Cover) and Option 4 (All-in-One Cover).
Covers 34 listed critical illnesses, providing a lump sum payout upon diagnosis.
Add-ons
If you smoke
Premiums are higher for smokers.
Note :
Suicide Clause : If the policyholder commits suicide within 12 months from the policy commencement date or from policy revival:
Regular/Limited Pay Policies: 80% of the total premiums paid or the surrender value (whichever is higher) is refunded.
No benefit is payable under critical illness or accidental death riders in this case.
Free look up period: 15 days from policy receipt (or 30 days if purchased through Distance Marketing).
If the policyholder disagrees with the terms, they can cancel the policy and receive a refund after deductions for:
Proportional risk premium for the covered period
Stamp duty charges
Medical examination costs (if any)
Grace Period: 30 days for annual/half-yearly premium payments.
15 days for monthly premium payments.
If the policyholder dies within the grace period, the claim is paid after deducting the due premium.
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About the Company
Future generali India life insurance company Ltd. was established in 2006, It is a joint venture between Generali group and future group. Presently, Generali is the largest shareholder in the company with a stake of 73.99% in the company.
The Generali group, founded in 1831, is a prominent international asset management and insurance firm with offices in more than 60 nations.
Future Generali India provides a wide range of insurance products, such as life, house, auto, and health insurance, in addition to customised options for rural communities and enterprises. Offering value-added services like wellness programs and telecounseling together with full coverage is its main goal.
To provide families and businesses with financial security, the organisation blends innovation with customer-focused services. With a dedication to clear and easily accessible insurance solutions, its products are centered on long-term security and cover topics including wealth-building, retirement, savings, and child education.