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.
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 & Services Tax) multiplied by surrender value factor as given below:
|Policy Year of Surrender
||Guaranteed Surrender Value Factor as a percentage of Premium
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.
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.
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