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Future Generali Cancer Protect Plan Future Generali Cancer Protect Plan

Cancer Protect Plan

As declared by June 2017 issue of Consumer Voice Magazine issued
by (VOICE) Voluntary Organisation in the interest of Consumer Education.



 

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 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.

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

d) Sum Assured shall be highest of the following:

  • 10 times Annualised Premium, or
  • 105% of total premiums paid 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

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
1 56%
2 42%
3 28%
4 14%
5 NIL

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 IT 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

  • Raj is a 30 year old salaried professional male. He is a non-smoker and leads a healthy life.
  • He purchased Future Generali Cancer Protect Plan online for a Sum Assured Rs20 lakhs for Policy Term of 20 years. He will have to pay annual regular premiums of Rs1,144 + taxes per annum.
  • He opted for Option 1 - Lump Sum option.
  • Unfortunately, he was diagnosed with an Minor Stage Cancer in the 10th policy year.

2Diagnosed with Major Stage Cancer

Diagnosed with Major Stage Cancer

  • Rohit has a small family with a wife and a son
  • He purchased Future Generali Cancer Protect Plan online for his 5 year old son with a Sum Assured of Rs10 lakhs for Policy Term of 13 years opting to pay annual regular premiums of Rs760 + taxes per annum
  • He opted for Option 2 - Lump Sum + Income Benefit option
  • Unfortunately, his son was diagnosed with an Major Stage Cancer in the 7th policy year

3Diagnosed with Minor and Major Stage Cancer

Diagnosed with Minor and Major Stage Cancer

  • Arvind is a 35 year old salaried professional male. He is a non-smoker and leads a healthy life.
  • He purchased Future Generali Cancer Protect Plan online for a Sum Assured Rs20 lakhs for Policy Term of 20 years opting to pay annual regular premiums of Rs3,552 + taxes per annum
  • He opted for Option 2 - Lump Sum option + Income Benefit Option
  • Unfortunately, he was diagnosed with an Early Stage Cancer and after few years with Major Stage Cancer, within the Policy term.

 

 

HOW TO APPLY

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 Major Cancer, Carcinoma-in-situ and Early 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, AIDS or HIV

ii. Any congenital conditions; or

iii. Any pre-existing condition (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).

Disclaimers

    Future Generali Cancer Protect Plan UIN: 133N063V01

    Tax benefits are subject to change in law from time to time. You are advised to consult your tax consultant

    BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRADULENT OFFERS.
    IRDAI clarifies to the public that:

    • IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.
    • IRDAI does not announce any bonus.
      Public receiving such phone calls are requested to lodge a police complaint along with details of phone calls , number.
    • Insurance is subject matter of solicitation. For more details on definitions, exclusions and other terms and conditions please read the sales brochure and/ or sample policy document on our website carefully before concluding the sale.

     

    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 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 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 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 Policy stamp duty and medical examination, if any.

    Adjudged as “best cancer insurance plan in India” by Voluntary Organization in the Interest of Consumer Education (VOICE).

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