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Future Generali Express Term Life Plan

Life can be unpredictable. It can surprise everyone once in a while. The question then is how prepared are we for the uncertainties of life?

We may not be able to predict the future, but we can plan in time and secure the future of our loved ones. Protection Solution can now be tailored according to your preferences and choices. With Future Generali’s Express Term Life Plan you can secure your family’s lifestyle, today and tomorrow.

Three reasons why you should buy this plan:

  • Offers comprehensive long term protection at affordable rates
  • Customised plan to suit your individual requirements
  • Flexibility to choose your policy and premium terms

HERE IS WHAT YOU GET IN THE PLAN

Life Cover Option

Provides lump sum benefit on death or terminal illness, whichever happens earlier. In case of Accidental Total and Permanent Disability (ATPD), all future premiums under the policy are waived off.

Extra Life Cover Option

In addition to the benefits under Option 1: Life Cover, this option also provides an additional lump sum benefit in case of death due to accident.

Life plus Health Cover Option

In addition to the benefits under Option 1: Life Cover, this option also provides Critical Illness Benefit, if the Life Assured is diagnosed with or undergoes any one procedure out of the listed 34 Critical Illnesses.

All in One Cover Option

In addition to the benefits under Option 1: Life Cover, this option providesi) An additional lump sum benefit in case of death due to accidentii) Critical Illness Benefit, if the Life Assured is diagnosed with /undergoes any one procedure out of the listed 34 Critical Illnesses.

Tax Benefit

You may be eligible for availing tax benefits under Section 80 C, Section 80 D and proviso to Section 10 (10 D) of the Income Tax Act, 1961. These benefits are subject to change as per the prevailing tax laws

Policy Term and Premium Payment Term

The plan gives you the flexibility to choose the period of protection and the period of premium payment (minimum policy term and premium payment term of 5 years).

What are your benefits?

Life Cover

 

Extra Life Cover

(Life Cover with Accidental Death Benefit)

Life Plus Health Cover

(Life Cover with Accidental Death Benefit)

All in One Cover

(Life Cover with Accidental Death Benefit and Accelerated Critical Illness Benefit)

Life Cover
  • This is a pure term plan with an in-built Terminal Illness and Accidental Total and Permanent Disability benefit.
  • In this option, a death benefit equal to the Death Sum Assured shall be paid as a lump sum either on the:-
    • Death, or
    • Diagnosis of Terminal Illness
    whichever occurs earlier.
  • On the diagnosis of Accidental Total and Permanent Disability (ATPD), the future premiums under the policy for all benefits shall be waived off, subject to the policy being in force and the policy shall continue till the end of the policy term for other insured events.
  • The policy shall terminate on the death or on the occurrence of terminal illness to the Life Assured.
Extra Life Cover
  • This plan provides life cover as specified in Option 1 and also provides an additional amount equal to Accidental Death Sum Assured which shall be payable on death in case the death happens due to an accident i.e. an amount equal to the Death Sum Assured plus Accidental Death Sum Assured shall be payable.
  • The policy shall terminate on the death or on the diagnosis of terminal illness of the Life Assured, whichever is earlier.
Life Plus Health Cover
  • This is the same as option 1. Plus, in case the life assured is diagnosed with / undergoes any one procedure out of the listed 34 critical illness conditions, Critical Illness Sum Assured shall be payable and the policy shall continue till the end of the policy term subject to the policy being in force.
  • No benefit shall be payable on the diagnosis of any subsequent Critical Illness. However, in case of the Critical Illness procedure - Angioplasty, the Critical Illness claim payment shall be limited to an amount of ₹5 lakh (where Critical Illness Sum Assured is less than ₹50 lakh) or ₹10 lakh (where Critical Illness Sum Assured is greater than or equal to ₹50 lakh). The remaining Critical Illness benefit shall be payable on subsequent diagnosis/undergoes any one procedure out of the other specified Critical Illnesses.
  • The Policy shall continue on the payment of Critical Illness Benefit till the end of the policy term subject to payment of all due premiums. However, no premium on account of Critical Illness Benefit shall be payable once the Critical Illness Sum Assured has been paid.
  • Death Benefit payable on the death of the life assured shall be an amount equal to the Death Sum Assured less any critical illness benefit already paid.
  • The policy shall terminate on the death or on the diagnosis of terminal illness of the Life Assured, whichever is earlier.
All in One Cover
  • This is the same as option 3. Plus an additional amount equal to Accidental Death Sum Assured shall be payable on death in case the death happens due to an accident i.e. an amount equal to the Death Sum Assured plus Accidental Death Sum Assured less any Critical Illness Benefit already paid shall be payable.
  • The policy shall terminate on the death or on the diagnosis of terminal illness of the Life Assured, whichever is earlier.
Death Benefit
Maturity Benefit
Death Benifit

The Death Sum Assured shall be the highest of the following:

  • 10 times Annualised Premium (excluding taxes and extra underwriting premiums if any, or
  • ‘105% of total premiums paid (excluding taxes and extra underwriting premiums if any) as on the date of death, or’
  • Absolute amount payable on death which is equal to Sum Assured
Maturity Benefit

There are no maturity benefits under this plan.

EASY STEPS TO KEEP YOURSELF COVERED

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2
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Choose a protection option that works for you

Option 1 Life Cover

Provides lump sum benefit on death or terminal illness, whichever happens earlier. In case of Accidental Total and Permanent Disability (ATPD), all future premiums under the policy are waived off.

Option 2 Extra Life Cover

In addition to the benefits under Option 1: Life Cover, this option also provides an additional lump sum benefit in case of death due to accident.

 

Option 3 Life plus Health Cover

In addition to the benefits under Option 1: Life Cover, this option also provides Critical Illness Benefit, if the Life Assured is diagnosed with or undergoes any one procedure out of the listed 34 Critical Illnesses.

Option 4 All-In-One Cover

In addition to the benefits under Option 1: Life Cover, this option provides

  • An additional lump sum benefit in case of death due to accident
  • Critical Illness Benefit, if the Life Assured is diagnosed with /undergoes any one procedure out of the listed 34 Critical Illnesses.

Choose the amount of insurance cover (Sum Assured) you desire under this policy

Choose the duration of cover (Policy Term) and the Premium Payment Term as per your convenience

Get your premium calculated, fill the application form and get a customised quote. Our advisor will help you with the calculations

Start paying your premiums regularly and stay financially protected

Eligibility

Eligibility Criteria
Cover Amount (In INR)
Premium Payment Mode
Eligibility Criteria
Entry Age and Maturity Age (as on last birthday)
Plan Option Option 1 Option 2 Option 3 Option 4
Min Entry Age (as on last birthday) 18 years 18 years 18 years 18 years
Max Entry Age (as on last birthday) 65 years 65 years 65 years 65 years
Min Maturity Age 23 years 23 years 23 years 23 years
Max Maturity Age 85 years 85 years 80 years 80 years
Cover Amount Options (In INR)
Sum Assured

Minimum - 25 Lacs

Maximum – No Limit (Subject to Underwriting by the Company)

Accidental Death Sum Assured

Minimum - 5 Lacs

Maximum– Sum Assured (Subject to Underwriting by the Company)

Critical Illness Sum Assured

Minimum - 5 Lacs

Maximum– 50% of Sum Assured or Rs. 1 Crore, whichever is lower (Subject to Underwriting Policy of the Company)

Premium Payment Mode
Monthly Quarterly
Half Yearly Annualy

Little privileges just for you

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 the policy is sold through the Distance Marketing Mode) of the receipt of the policy document for cancellation, stating your objections. Future Generali will refund the premium paid after the deduction of proportionate risk premium for the period of cover, stamp duty charges and the cost of medical examination, if any.

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.

If the Policy is opted through an 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 the 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 eInsurance 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.

Grace period

You get a grace period of 30 days for Yearly, Half yearly and Quarterly Premium Payment Frequency and 15 days for Monthly Premium Payment Frequency from the due date, to pay your missed premium. During these days, you will continue to be covered and be entitled to receive all the benefits subject to the deduction of due premiums.

Flexibility to make changes

 

  • Premium payment mode can be changed among Annual/ Half-yearly/ Quarterly/Monthly modes.
  • The alteration of premium mode will be applicable from next policy anniversary and will be allowed subject to minimum instalment premium conditions.

Tax Benefits

The premium(s) paid by you may be eligible for tax benefit as may be available under the provisions of Section(s) 80C, 80D of the Income Tax Act, 1961 (Act) and the benefit proceeds are eligible for exemption under proviso to Section 10 (10D) of Act , subject to fulfilment of prescribed conditions under the aforesaid section of the Act.

For further details, consult your tax advisor. Tax benefits are subject to change from time to time.

Exclusions

Exclusion under Death Benefit

Suicide Exclusion

If the Life Assured’s death arises directly or indirectly through or in consequence of suicide within 12 months:

  • from the date of inception of the policy, the nominee or the beneficiary shall be entitled to 80% of the premiums paid, provided the policy is in force,
    or
  • From the date of the revival of the policy, the nominee or the beneficiary shall be entitled to an amount which is higher of 80% of the premiums paid till the date of death or the surrender value, if any, as available on the date of death.

Exclusion under Accidental Total and permanent Disability (ATPD)

ATPD due to accident should not be caused by the following:

  • Attempted suicide or self-inflicted injuries while sane or insane, or whilst the Life Assured is under the influence of any narcotic substance or drug or intoxicating liquor except under the direction of a medical practitioner; or
  • Engaging in aerial flights (including parachuting and skydiving) other than as a fare paying passenger and crew on a licensed passenger-carrying commercial aircraft operating on a regular scheduled route; or
  • The Life Assured with criminal intent, committing any breach of law; or
  • Due to war, whether declared or not or civil commotion; or
  • Engaging in hazardous sports or pastimes, e.g. taking part in (or practicing for) boxing, caving, climbing, horse racing, jet skiing, martial arts, mountaineering, off piste skiing, pot holing, power boat racing, underwater diving, yacht racing or any race, trial or timed motor sport.

Exclusion under Accidental Death Benefit

No benefit will be payable with respect to any condition arising directly or indirectly from, through or in consequence of the following exclusions:

  • Arising out of self-inflicted injury, suicide, war/invasion, injury during criminal activity with criminal intent or death whilst under the influence of drug unless prescribed by the doctor, alcohol, or narcotic substances;
  • Arising out of riots, civil commotion, rebellion, war (whether war be declared or not), invasion, hunting, mountaineering, steeple chasing or racing of any kind, bungee jumping, river rafting, scuba diving, paragliding or any such adventurous sports or hobbies; racing of any kind, bungee jumping, river rafting, scuba diving, paragliding or any such adventurous sports or hobbies;
  • As a result of the Life Assured committing any breach of law with criminal intent;
  • As a result of accident while the Life Assured is engaged in aviation or aeronautics in any capacity other than that of a fare-paying, part-paying or non-paying passenger, in any aircraft which is authorized by the relevant regulations to carry such passengers and flying between established aerodromes.
  • Nuclear reaction, radiation or nuclear or chemical contamination;

Exclusion under Critical Illness Benefit

No critical illness benefit will be payable with respect to any listed critical illness condition arising directly or indirectly from, though, in consequence of or aggravated by any of the following:

  • Pre-Existing Disease: Pre-Existing means any condition, ailment or injury or related condition(s) for which the Life Assured had signs or symptoms, and/or were diagnosed, and/or for which medical advice/treatment was received within 48 months prior to the first policy issued by the Company and renewed continuously thereafter. Any investigation or treatment for any Illness, disorder, complication or ailment arising out of or connected with the pre-existing Illness shall be considered part of that preexisting illness.

    No Critical Illness benefits shall be payable for any condition(s) which is a direct or indirect result of any pre-existing conditions unless Life Insured has disclosed the same at the time of proposal or date of reinstatement whichever is later and the Company has accepted the same.

  • Unreasonable failure to seek or follow medical advice or treatment or the Life Insured has delayed medical treatment in order to circumvent the waiting period or other conditions and restriction applying to this policy.
  • Self-inflicted Injuries, suicide, insanity, and immorality, and deliberate participation of the life insured in an illegal or criminal act.
  • Use of intoxicating drugs / alcohol / solvent, taking of drugs except under the direction of a qualified medical practitioner.
  • Radioactive contamination due to nuclear accident.
  • War – whether declared or not, civil commotion, breach of law with criminal intent, invasion, hostilities (whether war is declared or not), rebellion, revolution, military or usurped power or wilful participation in acts of violence.
  • Illness or Injury caused by engaging in hazardous sports / pastimes, i.e. taking part in (or practicing for) boxing, caving, climbing, horse racing, jet skiing, martial arts, mountaineering, off pastel, skiing, pot holing, power boat racing, underwater diving, yacht racing or any race, trial or timed motor sport, bungee jumping, hand gliding etc. or Any injury, sickness or disease received as a result of aviation (including parachuting or skydiving), gliding or any form of aerial flight other than as a farepaying passenger on regular routes and on a scheduled timetable unless agreed by special endorsement.
  • Existence of any Sexually Transmitted Disease (STD) and its related complications or Acquired Immune Deficiency Syndrome (AIDS) or the presence of any Human Immuno-deficiency Virus (HIV)
  • Various other exclusions mentioned under the Critical Illness definitions

Waiting Period for Critical Illness Benefit

 

  • Waiting Period is 90 days from the date of Risk Commencement of the Policy or reinstatement date (whichever is later)
  • No Critical Illness Benefit shall be payable under this Policy for the listed critical illness conditions, diagnosed or manifested within 90 days following the date of Risk Commencement of the Policy or reinstatement date (whichever is later) and the Critical Illness Benefit under the Policy will terminate.
  • In such a case, Company will refund the premiums from date of Risk Commencement of the Policy or from the date of revival, whichever is later, as applicable which is paid towards Critical Illness. The Critical Illness benefit under the Policy shall terminate.
  • The Company shall offer the Policyholder the Policy with no Critical Illness Benefit and Sum Assured reduced by Critical Illness Sum Assured and accordingly the Premiums shall be charged. This shall be subject to Board approved Underwriting Policy. If the Policyholder does not agree to the revised terms and conditions, the Company shall refund the total Premium received on the Policy from the Risk Commencement Date or date of revival, whichever is later. This will be subject to Section 45 of the Insurance Act, 1938, as amended from time to time.
  • Waiting period in case of reinstatement shall not be applicable if Policy is revived within 90 days of last premium due date and a continuous waiting period of 90 days has been served.
  • Waiting Period is not applicable for Death Benefit, Terminal Illness Benefit, Accidental Death Benefit and Accidental Total and Permanent Disability

TARGET GROUP

For the customers who want to buy a tax saving, term insurance plan which provides high level of protection at affordable rates

DISCLAIMERS

UIN : 133L082V01

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

Why Future Generali Life Insurance

104

locations with presence in major cities across India

93.11%

individual death claims settled for FY 2017-18

12.9 lakh

policies sold since inception

₹3,246 crore

worth of Assets Under Management

Figures as on 31st March 2018

Reach us

Customer care number

1800 102 2355

Email us at

care@futuregenerali.in

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