Future Generali India Life Insurance launches its first Flexi Online Term Insurance Plan
One of the most affordable term plans with an option of an increasing income protection
Future Generali India Life Insurance Company Limited (FGILI), a joint venture between Future Group - the leading retailer of India, Assicurazioni Generali - a global insurance group and one of the world’s 50 largest companies* - a leading NBFC, today announced the launch of its first Flexi Online Term Insurance Plan, which is a pure term insurance plan available at a premium as low as Rs. 4000 for a Rs. 1 crore cover. The plan is available exclusively online and is specially targeted at individuals seeking simple and guaranteed insurance solutions. This plan provides a steady return over the medium term while minimising risk, and is the only tool in the market that covers the liabilities and provides money for a longer term to take care of the family’s monthly expenses.
The Future Generali Flexi Online Term Plan offers an option of a ‘Monthly Income Protection’ which provides a fixed sum of money until the retirement age (60 years) and acts as a substitute for the salary received every month. With the rising price of goods and services, the same income after 10 years may not suffice to maintain the same lifestyle for the family, hence there is another option with inflation protection called ‘Increasing Monthly Income Protection’ where the cover grows at the rate of 10% per annum even after the death of the life assured.
Plan at a glance
| Parameters | Basic Life Cover | Income Protection |
| Entry Age (as on last birthday) | 18 - 55 years | 25 - 55 years |
| Maturity Age | Minimum: 28 years Maximum: Smoker : 65 years Non–Smoker: 75 years |
Minimum: 45 years Maximum: 65 years |
| Policy Term | Minimum: 10 years Maximum: Smoker: 65 years minus Entry Age Non-smoker: 75 years minus Entry Age |
Minimum - 10 years (subject to minimum maturity age of 45 years) Maximum - 65 years minus Entry Age |
On the occassion of the launch, Mr. Munish Sharda, Managing Director & CEO, Future Generali Life Insurance said, “Our product philosophy has always been based on simplicity and we have kept our valued customers at the heart of our product development process. The online medium is fast gaining popularity and given the convenience, cost effectiveness and transparency of this medium, we launched our first Flexi Online Term Insurance Plan. This plan offers the customer a simple product that will address their protection needs at an extremely affordable price. This is the first online product that will get added to our existing suite and the two options will enable the customer to match the growing financial needs of the family and in a ‘true’ way help them sustain their lifestyle.”
ABOUT GENERALI
The Generali Group is one of the largest global insurance providers with 2013 total premium income of €66 billion. With 77,000 employees worldwide serving 65 million clients in more than 60 countries, the Group occupies a leadership position on West European markets and an increasingly important place on markets in Central Eastern Europe and Asia.
About Future Group
Future Group operates some of India’s most popular retail chains including Central, Big Bazaar, Food Bazaar, Home Town and eZone. Apart from its allied businesses in Life and General insurance, the Group is also present in the domain of logistics infrastructure and supply chain and brand development. The group operates over 17 million square feet of retail space in over 90 cities and towns and 60 rural locations across India. The group’s retail formats connect over 300 million customers to over 30,000 small, medium and large enterprises that supply products and services to its retail chains. Future Group believes in developing strong insights on Indian consumers and building businesses based on Indian ideas, as espoused in the group’s core value of ‘Indianness.’ The group’s corporate credo is, ‘Rewrite rules, Retain values’.
