Designed for groups that want to provide affordable life insurance coverage to their members
Sum Assured
18 to 69 years
1 year (renewable)
For social groups with 5000 members or above – 5000/- per member.
For other groups – 5000/-.
Yes
25
Yes
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.
Target Group
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) Other Groups 5,000/- (Per Member) |
70 years | One Year | 25 Members Per Group |
Suicide Exclusion: In case of death due to suicide within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as applicable, the nominee or beneficiary of the Insured member shall be entitled to at least 80% of the total premiums paid till the date of death, provided the policy is in force. This clause will not be applicable during renewal of cover.
For Master Policyholder:
In case you disagree with any of the terms and conditions of the policy/coverage, you can return the policy/Certificate of Insurance to the Company within 15 days (30 days if the policy is sold through the Distance Marketing Mode) of its receipt, for cancellation, stating your objections. Future Generali will refund the policy premium after the deduction of proportionate risk premium for the period of cover, stamp duty charges, cost of medical examination, if any.
For Insured Member:
On receipt of the Certificate of Insurance, the Insured Member may review the Terms and Conditions stated herein. In case the Insured Member is not satisfied with Terms and Conditions, he / she has an option to return the Certificate of Insurance to the Company within 15 days of its receipt (30 days if the Policy is purchased through Distance marketing mode), with a request for cancellation, stating reasons for the same. On such cancellation of the Certificate of Insurance, the Company will refund the premium after deducting a proportionate cost of insurance for the period covered; expenses incurred towards medical examinations, if any, and stamp duty.
Note: Distance Marketing means insurance solicitation / lead generation by way of telephone calling / Short Messaging Service (SMS) / other electronic modes like e-mail, internet & interactive television (DTH) / direct mail / newspaper and magazine inserts or any other means of communication other than that in person.
Future Generali Group Term Life Insurance Plan (UIN: 133N003V04)
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.
Buying a life insurance policy without asking your advisor the right questions is as good as crossing a road blindfolded.