Future Generali Life Insurance

Future Generali Life Insurance is an amalgamation between the Future Group, the Generali Group and Industrial Investment Trust Limited (IITL).
Future Generali Life Insurance provides a complete range of products and services for the financial security of its customers and enterprises: savings, family protection, Unit Linked Insurance Policies, and group insurance solutions.
The company was incorporated in 2007; has a network of 98 branches across India, and has sourced over 11 lakh policies, since its inception. With the assets of more than Rs 2,600 crore and the capital of over Rs 1,400 crore, Future Generali Life Insurance has become one of the leading insurance providers in the country.

Eligibility for Bajaj Allianz Life Insurance

• Minimum age must be at least 18 years old.

• Maximum age should be less than 56 years old.

• Occupation eligibility includes salaried employees, professionals, and self-employed people.

Life Insurance Plan Details of Future Generali

• Future Generali Term Plans:

  Plan	Basic Amount Assured	Term
  A. Future Generali Flexi Online Term	Rs.50,00,000	10-(65-entry age)
  B. Future Generali Care Plus	Rs.10,00,000	5-30 yrs

  • Future Generali Care Plus Plan: It is a pure term plan, offers a high life cover at a low premium cost and provides coverage against the life’s uncertainties.

  • Future Generali Flexi Online Term Plan- It is an online term plan that provides life cover as well as the monthly income and the choice to mold the policy based on the requirements of the policyholder.

• Future Generali Guaranteed Plans
  • Future Generali Pearls Guarantee Plan: This plan offers multiple term options, the flexibility of paying for the limited time and regular returns compounded reversionary bonuses throughout the policy tenure. The family of the policyholder gets a lump sum amount, the vested and the terminal bonus (if applicable) at the end of the policy tenure.
  • Future Generali Saral Bima: The single-premium policy offering six different fund options among equity, debt and balanced, ability to switch funds forms the highlights of this policy. The fund provides withdrawal any time facility after five years without any additional charges.
  • Future Generali Assured Income Plan: It is a limited premium insurance plan where the policyholder pay premiums only for 11/15 years and gets the guaranteed payout for the equivalent number of years. Other advantages may include the payout of up to 4.5 times the annualized premium along with the death benefits to the nominee of the insured.
  • Future Generali Assured Money Back Plan: It is non-linked, non-participating money back plan that offers the choice of 4 policy terms and the guaranteed 10% of the assured amount as a cash back annually (for up to nine years) along with 110% of the amount assured at maturity.
  • Future Generali Assured Education Plan: It is a non-linked, non-participating plan that provides the saving mechanism for the education needs of the child until the child reaches 17 years of age along with the guaranteed pay-outs and optional riders.

ULIP Plans of Future Generali

• Future Generali Bima Gain: It is a ULIP plan where the single payment option helps in meeting the dual objectives: wealth creation and life protection. It also provides monthly/quarterly/half-yearly payment options, and an opportunity to switch between six funds. The policy also provides the option of partial withdrawals any time after five years as an additional benefit.
• Future Generali Pramukh Nivesh: It is a ULIP plan where all the premiums paid are invested in the funds selected by the policyholder without any allocation charges. It safeguards the returns on maturity through the systematic funds' transfer options from equity-oriented funds to debt-oriented funds during the last three years of maturity. It provides opportunities to switch between six funds, and withdrawals any time after five years.
• Future Generali Wealth Protect Plan: It offers the high cover (up to 30 times the annual premium), guaranteed loyalty addition, monthly/quarterly/ half-yearly payment frequencies, an option to switch between debt, equity and balanced funds. After five years, the partial withdrawals can be availed.
• Future Generali Bima Advantage Plus Plan: It offers the monthly/quarterly/half-yearly payment frequencies, and options to switch between the debt, equity and balanced funds. After five years, the policyholder can avail the partial withdrawals which makes it a good plan to cover medium to long-term goals.
• Future General Dhan Vriddhi: It offers the flexibility of paying the limited premiums and investing for the longer term, targeting higher returns to meet the medium and long-term financial goals.
• Future Generali Easy Invest Online Plan- It is the premium-linked ULIP that provides life cover as well as the partial withdrawal after the fifth policy year, along with loyalty additions throughout the policy period. Also, it allows for fund switching throughout the policy term.

Future Generali Traditional Plans

• Future Generali Assure Plus: It offers the flexibility of paying for the limited period, and regular returns compounded reversionary bonuses throughout the policy tenure. The family gets a lump sum amount as well as the vested bonuses and terminal bonus (if any) at the end of the policy term.
• Future Generali New Saral Anand- It is a non-linked, participating endowment plan that provides life cover along with a choice of benefits such as the extended life cover (of up to 100 years of age) as well as bonuses upon the maturity.
• Future Generali Triple Anand Advantage- It is a non-linked, participating endowment plan that offers the policyholders a fixed amount for five years after the premium payment tenure. It also provides the life cover of up to 80 years of age along with with 50% of the Sum Assured + interest on maturity.

Future Generali Rural Plans

• Jan Suraksha Plus: It is a non-linked, non-participating traditional insurance plan that provides life cover with the guaranteed maturity amount at affordable premium rates.
• Future Generali Jan Suraksha: It is the non-linked, non-participating life insurance plan that provides single premium payment life coverage.

• Plans	Basic Amount Assured	Term
  1.Future Generali Jan Suraksha Plus	Dependent on the premium amount	8 yrs
  2.Future Generali Jan Suraksha	Dependent on the premium payment	8 yrs

Retirement Plans of Future Generali

• Future Generali Pension Guarantee Plan: It is the retirement plan that aids in creating a savings corpus for the retirement of the policyholder. Upon maturity, the policy returns the minimum guaranteed 101% of all the premiums paid and along with that, bonuses, if declared, are added throughout the tenure.
• Future Generali Immediate Annuity Plan: It is a retirement plan that provides a fixed income for the rest of the life of the policyholder. The person has the flexibility to choose among a monthly or yearly payout mode or to opt between ‘Life Annuity’ and ‘Life Annuity with return of Purchase Price.’ It also provides an annuity card that ensures the convenience in withdrawing the annuity amount.

Future Generali Group Plans

• Future Generali Group Superannuation Plan: It provides a guaranteed return with a minimum floor rate of 1% per annum on the contributions made plus the subscribers get additional returns declared in the form of annual bonuses over and above the minimum floor rate. After five years the residual addition is also included in the fund.
• Future Generali Group Leave Encashment Plan: It is a group plan that provides guaranteed returns with the minimum floor rate of 1%/ annum, which is credited quarterly in advance. The policyholders also get an additional interest rate which is above the minimum floor rate, declared in advance for each quarter. It helps the companies in managing their leave encashment liabilities.
• Future Generali Group Gratuity Plan: It is a group plan tailored explicitly for the companies that provide gratuity benefit to their employees.
• Group Term Life Insurance Plan: It is a plan designed for the groups who want to provide affordable life insurance coverage to their members or customers.
• Future Generali Loan Suraksha: It is an insurance policy that has been designed specifically for the companies/groups that offer loans to their customers.

Claim Settlement Ratio

Year	2013-14	2014-15	2015-16	2016-17
Claim Settlement Ratio (%)	74.88	83.70	90.26	89.53
Total Premium (in crores)	643.16	604.25	592.5	739.85

Following are the documents required to buy a Future Generali Life Insurance policy:

• Passport size photo.
• Identity Proof:  Following are the documents needed to be submitted towards proof of identity:
  • Passport
  • PAN card
  • Voter’s identity card
  • Driving license
• Job card issued by the NREGA, signed by a State Government officer and Aadhaar card.
• Residence Proof:
  • Bank account or the post office account statement.
  • Property tax or the local tax receipt.
  • Utility bills (electricity, gas, telephone), not older than 2 months.
  • Letter of allotment or accommodation from the State or Central government, financial institutions or the listed companies.
  • Rent agreement

FAQs

Q1. What are premium payment modes available with Future Generali Life Insurance?
Ans. The premiums for the life insurance policy with this company can be paid using auto debit facilities, cash payments, cheques, net banking and payments via phone.

Q2. What are the documents required to register the death claim?
Ans. If the death claim has to be registered, the following are the documents:

•  Claim Forms:
  • Part 1: Application form for the death claim.
  • Part 2: Statement of the physician.
  • Part3: Death certificate issued by the competent authority.
  • Part 4: Cause of death certificate issued by the attending physician.
  • Part 5: Attested copy of the indoor case papers of the hospital.
    If necessary, the post-mortem (autopsy report) and the chemical viscera report.
  • Part 6: KYC documents of the claimant.
  • Part 7: A canceled cheque with the name of claimant, or the claimant’s passbook.
  • Part 8: Declaration on the letterhead by the primary policyholder.

Q3. What are the documents required to register the claim for death due to the accident?
Ans. In case of accidental death, the nominee will have to file an FIR. So in documents, the nominee requires the final investigation report from the police station and a proof of the accident such as newspaper cutting, if available. These records need to be submitted along with other documents, as mentioned above.