Designed for groups that want to provide affordable life insurance coverage to their members
18 to 69 years
1 year (renewable)
For social groups with 5000 members or above – 5000/- per member.
For other groups – 5000/-.
The term insurance plan is ideal for employers or groups that wish to monetarily secure the families of their employees or members. Here are the steps to get the Future Generali Group Term Life Insurance plan:
Decide the benefit option or basic term cover from these:
The premium for the group insurance coverage is calculated by FGLI and can be paid in Yearly/ Half-Yearly/ Quarterly/ Monthly terms.
For employer who want to provide term life term insurance cover to their employees
|Member’s Age at Entry||Premium Per Group / Scheme||Minimum Sum Assured||Member’s Maximum Age at Maturity||Policy Term||Minimum Size of the Group|
|18 to 69 years||Minimum: 2,500/-
Maximum: No Limit
|Rural and Social Group
if Number of Members is 5,000 or more:
5,000/- (Per Member)
5,000/- (Per Member)
|70 years||One Year||25 Members Per Group|
Suicide Clause: In case an insured member commits suicide within 12 months from the risk commencement date of the member, his/her nominee will receive 80% of the premiums paid in respect of the insured member. This clause is not applicable for renewed policy and compulsory employer-employee groups.
Future Generali Group Term Life Insurance Plan (UIN: 133N003V03)
FREE LOOK CANCELLATION:
You have a period of 15 days (30 days if the policy is sold through Distance Marketing Mode) from the date of receipt of the group insurance Policy document to review the terms and conditions of the Policy. If you are not satisfied with or disagree with any of the terms and conditions, you have the option to Cancel/withdraw and return the term insurance Policy along with a letter (dated and signed) stating your intention to cancel the Policy and reasons for the objections/Cancellation, within this period. Cancellation of the term insurance Policy and refund of premium is allowed under this provision, whereby the amount payable on such cancellation will be equal to the total premium paid less a proportionate cost of insurance for the period of cover and expenses towards group insurance Policy stamp duty and medical examination, if any.
The fine print in a policy can come in the way of making an informed purchase. We’ve simplified the fine print into big print.
Read the terms and conditions carefully. Ensure that your current health, occupation or lifestyle habits do not exclude you from getting the policy benefits.
Do's and don’ts to protect your life insurance policy from unauthorised elements posing as company representatives.
Find out how prepared you are to meet your financial goals, with our FutureReady calculator.