Future Generali Cancer Protect Plan

Getting diagnosed with Cancer is really heart breaking, and because of our lifestyle and surroundings, the risk of getting Cancer is on an all-time high. Cancer cases in India is skyrocketing and nobody is safe. The most demoralizing part about Cancer is that it not only affects your health but also puts a major burden on your financial status. However, the financial burden that you face can be eased with the help of a Cancer insurance. A cancer insurance policy by Future Generali will help you stay financially and psychologically secure in case you or a family member of yours is diagnosed with Cancer.

Coverage Options

Benefits offered under various Plan Options.

  Lump Sum Cover
(Option 1)
Lump Sum Cover with Income Benefit
(Option 2)
If Cancer is diagnosed in the Minor Stage Receive 25% of your cover amount (Sum Assured) instantly
+  

$ Your premiums are waived off for next three years or till the end of the policy term, whichever is earlier.
 
If Cancer is diagnosed in Major Stage #Receive your entire cover amount (Sum Assured) #Receive your entire cover amount (Sum Assured)
+
Income of 2% of the cover amount (Sum Assured) per month for a period of 60 months on diagnosis of Major Stage Cancer
 
If Cancer is diagnosed during Minor Stage and later a Major Stage Cancer is diagnosed* Receive 25% of your cover amount (Sum Assured) on diagnosis of Minor Stage Cancer
+
$ Your premiums are waived off for next three years or till the end of the policy term, whichever is earlier.
+
#75% of your cover amount (Sum Assured) on diagnosis of Major Stage Cancer
Receive 25% of your cover amount (Sum Assured) on diagnosis in Minor Stage Cancer
+
$ Your premiums are waived off for next three years or till the end of the policy term, whichever is earlier.
#75% of your cover amount (Sum Assured) on diagnosis of Major Stage cancer
+
Income benefit of 2% of the cover amount (Sum Assured) per month for a period of 60 months on diagnosis of Major Stage cancer
     

a) Minor Stage Cancer benefit shall be payable once during the entire life of the policy including its renewability for Cancer of a particular organ.

b) Maximum 4 times Minor Stage Cancer benefit is payable upto a maximum of sum assured, for separate organs, in the entire life of the policy including its renewability.

c) The policy will terminate once the Sum Assured is exhausted.

d) Sum Assured shall be highest of the following:

  • 10 times Annualised Premium, (excluding applicable taxes, extra underwriting premiums(if any), rider premiums (if any), loadings for modal premiums(if any)) or
  • 105% of total premiums paid (excluding applicable taxes, extra underwriting premiums(if any), rider premiums (if any)) as on date of claim event, or
  • Maturity Sum Assured which is NIL.
  • Absolute amount payable on death which is NIL.
  • Sum Assured

$ Not applicable for single premium plan.

#Lump Sum benefit on diagnosis of Major Stage Cancer is Sum Assured minus Lump Sum benefits paid during Minor Stage Cancer.

Benefits of Our Cancer Protect Plan

Free Look Period: In case you disagree with any of the terms and conditions of the policy, you can return the policy to the company within 15 days (30 days if policy is sold through direct marketing mode) of its receipt for cancellation, stating your objections. Future Generali will refund the policy premium after the deduction of stamp duty charges, medical expenses, if any and proportional risk premium for period of cover, if any.

If the Policy is opted through Insurance Repository (IR), the computation of the said Free Look Period will be as stated below:-

  • For existing e-Insurance Account: Computation of the said Free Look Period will commence from the date of delivery of the e mail confirming the credit of the Insurance Policy by the IR.
  • For New e-Insurance Account: If an application for e-Insurance Account accompanies the proposal for insurance, the date of receipt of the ‘welcome kit’ from the IR with the credentials to log on to the e-Insurance Account(e IA) or the delivery date of the email confirming the grant of access to the eIA or the delivery date of the email confirming the credit of the Insurance Policy by the IR to the eIA, whichever is later shall be reckoned for the purpose of computation of the Free Look Period.

Surrender Value: There is no surrender value applicable under regular pay option.

The policy acquires a Surrender Value immediately after payment of single premium. The policyholder may terminate the policy anytime by surrendering the policy for a surrender value.

For single premium option, surrender benefit is equal to single premium including extra premium for substandard lives, if any (exclusive of Goods & applicable Tax) multiplied by guaranteed surrender value (GSV) factor as given below:

Policy Year of Surrender Guaranteed Surrender Value Factor as a percentage of Premium
1 56%
2 42%
3 28%
4 14%
5 NIL

No Surrender Benefit shall be payable if policy is surrendered in the last policy year.

Grace Period:

You get a grace period of 30 days for annual mode / 15 days for monthly mode from the premium due date to pay your missed premium. During this grace period, you will continue to be insured and be entitled to receive the benefits. If a valid claim arises under the policy during the Grace Period, but before the payment of due premium, the claim will be honoured. In such cases, the due premium will be deducted from the benefit payable.

Tax Benefits:

The Premium(s) paid by you are eligible for tax benefit as may be available under the provisions of Section(s) 80D as applicable. For further details, consult your tax advisor. Tax benefits are subject to change from time to time.

Target Group
For the customers who want to financially protect themselves and their family from the medical and non medical expenses that are incurred in case Cancer is diagnosed and also save taxes

How This Cancer Policy Works

  • 1 Diagnosed with Minor Stage Cancer
  • 2 Diagnosed with Major Stage Cancer
  • 3 Diagnosed with Minor and Major Stage Cancer

1Diagnosed with Minor Stage Cancer

Diagnosed with Minor Stage Cancer

2Diagnosed with Major Stage Cancer

Diagnosed with Major Stage Cancer

3Diagnosed with Minor and Major Stage Cancer

Diagnosed with Minor and Major Stage Cancer

 

 

How can you buy Future Generali Cancer Protect Plan?

Applying for Future Generali Cancer Protect Plan is extremely easy. Simply go online and get yourself a Cancer insurance plan cover just with the help of few simple steps. The process is extremely hassle-free and quick.

How to Apply

Buy Now /

ELIGIBILITY

Entry Age (as on last birthday) For Major lives : 18 years to 65 years
For Minor lives# :1 year to 17 years
Premium Payment frequency & Policy Term Regular premium Single premium
For Major lives - 10 years, 15 years, 20 years or 80 years minus age at entry.
For Minor lives - 18 minus age at entry or 10 years, whichever is higher
Maximum coverage Age is 80 years
5 years
Sum Assured For Major lives : Rs.10 lakhs, Rs.20 lakhs, Rs.30 lakhs and Rs.40 lakh
For Minor lives: Rs. 10 lakhs
Premium payment mode Regular Premium – Annual and Monthly
Single Premium – One time payment
#Policy on Minor Life can be taken only when either one of the parent or legal guardian has also taken cover under Future Generali Cancer Protect Plan

Exclusions

No benefit is payable under the Plan for any Minor stage Cancer, and Major stage Cancer, resulting directly or indirectly from or caused or contributed by (in whole or in part) any of the following:

i. Sexually Transmitted Disease

ii. Any congenital conditions; or

iii. Any pre-existing diseases (as defined above)

iv. Intoxication by alcohol or narcotics or drugs not prescribed by a Registered Medical Practitioner.

v. Nuclear, biological or chemical contamination (NBC).

 

The following are excluded under Major Stage Cancer:

I. Tumours showing the malignant changes of carcinoma in situ & tumours which are histologically described as premalignant or non-invasive, including but not limited to: Carcinoma in situ of breasts, Cervical dysplasia CIN-1, CIN -2 & CIN-3.

II. Any skin cancer other than invasive malignant melanoma

III. All tumours of the prostate unless histologically classified as having a Gleason score greater than 6 or having progressed to at least clinical TNM classification T2N0M0.

IV. Papillary micro - carcinoma of the thyroid less than 1 cm in diameter

V. Chronic lymphocyctic leukaemia less than RAI stage 3

VI. Microcarcinoma of the Bladder

 

Pre-existing diseases
Pre-existing Disease means any condition, ailment, injury or disease:

  • That is/are diagnosed by a physician within 48 months prior to the effective date of the policy issued or its reinstatement by the insurer or
  • For which medical advice or treatment was recommended by, or received from, a physician within 48 months prior to effective date of the policy or its reinstatement.
  • A condition for which any symptoms and or signs if presented and have resulted within three months of the issuance of the policy or its reinstatement in a diagnostic illness or medical condition

Reinstatement means the revival of policy post expiry of grace period

Disclaimers

    Future Generali Cancer Protect Plan (UIN: 133N063V02)

    Future Group’s, Generali Group’s and IITL’s liability is restricted to the extent of their shareholding in Future Generali India Life Insurance Company Limited.

    Tax benefits are as per Income Tax Act 1961 and are subject to any amendment made thereto from time to time You are advised to consult your tax consultant

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