Pay your premium online
Other payment options
Human Life Value Calculator
Premium Calculator / Benefit Illustration
(Meeting a child plan specialist is purely voluntary and insurer does not offer any cashback for the same)
Login
The family is one of the most important aspects of life. All the effort and wealth we build over time is for the family to thrive and have a stable future. Term insurance helps you protect this responsibility financially at a nominal cost. Term plans are simple to understand and you can buy them online and offline. Check the different term insurance plans available below and get to know how much life insurance your family needs.
Future Generali Life offers you four types of term insurance plans to suite your specific needs.
You can select the correct term insurance plan based on your life stage and protection needs. Here’s the type of term plan best suited for your life stage:
Simple to understand products
Strong foundation
Trustworthy brand with long service experience
More than 100 branches across the country
Growing and strong customer base
Term insurance plans are the simplest form of life insurance plans which offer to protect the lifestyle and needs of your dependents if anything happens to you. Following are the key features of good term insurance plans in India:
Monthly Income Payout
Best term insurance plans will not only offer a lump sum benefit to your dependents but can also offer monthly income to look after their regular expenses. This is an option you can select while buying the plan. This feature takes the burden of investing the large sum of money from your already stressed family members and provides them financial support when they need it most.
Tax Benefits
You can claim the premium paid for term life insurance plan as a deduction from your gross- total income in the financial year under section 80C. The death benefit payable as a lump sum is also tax exempt under section 10(10D) for your dependents.
Flexibility of Plan
Term insurance plans nowadays are quite flexible, unlike plain vanilla ‘insurance cover for a small price’ plans of old. You can select from plans that will offer regular income benefit to your dependents, to the plans which will return all premiums paid for the cover if you survive the tenure of the cover.
Entry & Maturity Age
With an entry age as low as 18 years ,it is not a hinderance if you are one of those with huge responsibilities on your shoulders at an early age. Also, with the maximum maturity age of 75, it is possible for those looking at a late retirement to ensure life cover to their loved ones.
Add-On Benefits
It is not necessary to buy a standalone term insurance plan with death benefit as the only cover. You can include additional benefits covering conditions like accidental death and disability for a nominal premium to the base term life insurance. These added benefits are also called ‘insurance riders’.
Estimate - How Much Term Cover You need?
(Usually, 20-25 times of your annual income as sum assured is sufficient)Select the Type of Plan & Benefits You Want to Attach
(you can select a plan with regular income payout at maturity, and add riders to it)Use Online Calculator to Estimate Premium and adjust Sum Assured for different benefits.
Pay the premium online and complete the application form.
Note: Term Plan with Return of Premium is only available offline. Click here to receive a call back from our representatives.
Riders are add-on benefits that you can add to your term life insurance plan. These benefits help your life cover to become more robust and helpful in multiple emergencies, rather than the only demise.
You can include the following riders to your base term life cover:
Accidental benefit rider provides additional sum assured with the term insurance plan. This Rider provides two options to choose from
Future Generali Non Linked Accidental Death Rider:- This rider provides additional Sum Assured on Accidental Death along with the Term Insurance.
While there are many who will tell you to spend less time and money on buying something as important as life insurance, we urge you to understand your benefits before putting your hard cash into it. Here are few simple things you can do to ensure long term satisfaction with your decision:
How much life cover?
With term insurance, you can aspire to offer maximum protection to your family’s lifestyle and dreams. However, the protection is limited by your annual income. Usually, 20 to 25 times of your annual income is enough for a family to sustain their lifestyle and fulfil their important life goals.
How Long Should the Term Cover Last?
The tenure of the term insurance cover is another area many buyers get confused, opting for either less tenure or too high a tenure. It is true that lower tenure can reduce your annual premium.
But, for something as important and inexpensive as term life cover, money should not affect the decision. Instead, opt for a tenure which is at least 5 years over your expected retirement. E.g. if you are expecting to retire at 60 your term cover tenure should be 65.
Opting for a longer cover duration post-retirement can burden the pension because you will have to pay premium from your pension.
Which Riders to Select?
Riders offer improved financial protection to your family and you. Accidental Death and Disability Rider is one of the basic benefits you should add to your term life cover..
Claim Settlement
Claim settlement is the moment of truth for the families covered by term insurance. Thus, it is important for you to look at the simplicity of the claim settlement process of the insurer. Also, you can look at the channels that will be available to your family members for filing the claim. Count the branches, online channel and customer support in this area.
You can renew your term insurance policy by paying the renewal premium online through the website.
step-1
Click on ‘Pay Premium’ on the top of the page.
step-2
Fill in the policy number and date of birth of the policyholder and click ‘Submit’. This will pull up the amount of premium you need to pay for the renewal.
step-3
Use the given payment method to pay the due amount and renew your policy.
A confirmation e-mail and premium receipt will be sent to the registered e-mail ID of the policyholder.
Upon receipt of complete documents, we will make the final decision within 10 days and communicate the same to the claimant.
To ensure a speedy payout, we transfer the claim proceeds through direct credit to the claimant's account.
Term insurance is a type of life insurance that covers the policyholder up to the age specified in the policy. Should the life assured die before the term is over, the beneficiary will receive a death benefit as per the policy selected. The objective of having this insurance is to provide financial coverage to the life assured and his/her family, in the event of unfortunate situations like permanent disability or death.
Know MoreTerminal insurance is very similar to term insurance cover but instead of death benefit it provides tax-free lump sum when diagnosed with terminal illness. Terminal illness benefit is defined as benefit paid when the estimated survival period of life assured is less than 12 months. This is certified by a medical doctor. Purchasing this insurance gives you the security that a guaranteed amount will be paid if the unforeseen happens and you are diagnosed with a terminal illness.
Know MoreTerm insurance guarantees a pre-determined amount of money to the insured person’s nominees if the person passes away within the policy period. Term insurance for life should be a necessity if you have family members who are financially dependent on you and you are the sole breadwinner. It can likewise prove to be handy if you have liabilities like an auto loan, a home loan, or other obligations.
Know MoreIt is a type of term insurance where the policyholder pays a constant premium, but the coverage amount or the sum assured, decreases every year by a fixed percentage, either on a monthly, quarterly, or yearly basis. Decreasing term insurance, also known as mortgage term insurance, is usually bought by homeowners to pay off debts and loans to ensure their mortgage is settled after their death.
Know MoreLevel term insurance is one of the most popular types of life insurance that offers you protection in the event of your demise within the term of the policy. The amount paid as premium as well as the sum assured does not change over the course of the policy term, unlike decreasing term insurance.
Know MoreIt is possible to get term insurance or long-term care insurance if you have diabetes. Term protection is likely available to you, particularly if your diabetes is under control; you can get moderate rates if you react well to treatment and lead a healthy life.
Know MoreMaturity benefits indicate the sum received by a policyholder or his/her beneficiaries when a policy matures. Typically, a traditional term insurance plan does not offer any maturity benefit. It only offers term insurance death benefit when a policyholder passes away within the policy term.
Know MoreTerm insurance financially covers the risk of death, by paying a lump sum amount to the life assured’s nominee. But, certain kinds of deaths are not covered by the term plan in India. Hence, to avoid any unpleasant surprises to your family members or dependents upon your demise, it is essential to be aware of the terms and conditions of term insurance plans.
Know MoreTerm insurance coverage allows your nominees to receive the guaranteed death benefit in the event of your untimely demise. However, in the case of a pension plan, once the policy matures, you or your nominees are entitled to receive the corpus that you have built over time.
Know MoreYes, there are circumstances where buying term life insurance over 60 years of age is worthwhile. Let’s plunge in such scenarios a bit deeper and see which broad life situations make purchasing a term plan in your senior years beneficial:
Know MoreThe duration of your term policy should rely upon how long you need to provide financial security to your family if there should arise an occurrence of unfortunate eventualities. However, while buying a term policy, you should always opt for a ‘term’ depending on your retirement age. So, if your current age is 30 and you are planning to retire at the age of 60, then you should opt for a 30 years policy term.
Know MoreLife insurance companies require certain documents from you when you purchase a term insurance plan. You can either directly upload these documents onto the insurer’s website while applying, email to their customer service id, or courier the documents to the closest branch.
Know MoreNo, you cannot avail loans on term insurance plans because such term plans do not contain cash value and expire at the end of their policy period without earning any returns. Therefore, banks cannot consider term life insurance as collateral against loans.
Know MorePremium paying term for ‘Term Life Insurance’ is the duration for which the policyholder must pay the term insurance premium.
Know MoreIn general, term life insurance policy covers death due to natural disasters such as severe weather conditions, earthquakes and lightning.
Know MoreCopyright © 2020. Future Generali India Life Insurance Company Ltd. All Rights Reserved.
Follow Us
Tax benefits are as per Income Tax Act 1961 and are subject to any amendments made thereto from time to time. You are advised to consult your tax consultant.
Future Group's, Generali Group's and IITL liability is restricted to the extent of their shareholding in Future Generali India Life Insurance Company Limited. Future Generali India Life Insurance Company Limited (IRDAI Registration no. 133) (CIN No.: U66010MH2006PLC165288). Registered & Corporate Office Address: Indiabulls Finance Centre, Tower 3, 6th Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400 013. Fax us at: 022 40976600. | Email: care@futuregenerali.in | Call us at 1800 102 2355 | Website: life.futuregenerali.in
REGISTERED & CORPORATE OFFICE
Future Generali India Life Insurance Co. Ltd, Indiabulls Finance Centre, 6th Floor, Tower 3, Senapati Bapat Marg, Elphinstone West Mumbai, Maharashtra
400013 India IRDAI Registration No: 133. Category ‘Life’ Validity of certificate of registration : Upto 31st March, 2020. CIN:U66010MH2006PLC165288
