Additional Rider

• I.Future Generali Linked Accidental Death Benefit Rider
  In case of an unfortunate event of death of the Life Assured during the Rider Term, the Rider Sum Assured is paid along with the Death Benefit of the base Policy.
  • " An "Accident" is a sudden, unforeseen, and involuntary event caused by external, visible & violent means
  • The “Accidental Death” benefit is payable only under if the Life Assured sustains any bodily injury resulting solely and directly from an accident caused by outward, violent and visible means and such injury shall within a period of 180 days of the occurrence of the accident; solely, directly and independently of all other causes, result in the death of the Life Assured. In case the “event” which has caused death due to accident has occurred during the Policy Term and accidental death occurs after the Policy Term but within 180 days from the date of accident, the accidental Death Benefit shall be payable.
  • Additional Benefits:
    Under this Rider, the Life Assured can get double benefit, if the death due to accident occurs under any of the following circumstances:
    • While the Life Assured is riding as a fare paying passengers on commercially licensed public land transportation over an established route such as a bus, tram or train.
    • While the Life Assured is in an elevator car (elevators in mines, rigs and on construction sites excluded) duly certified to carry passengers; or
    • As a direct result of the burning of the following public buildings only: theatre, cinema, public auditorium, hotel, school and hospital.
    • When the Life Assured is on a commercial passenger airline on a regular scheduled passenger trip over its established passenger route.
  • Other Features:
    • Change in Sum Assured – The Policyholder may increase/decrease Rider Sum Assured within the range of minimum and maximum Sum Assured under the base Policy and further subject to IRDAI regulations, 2024, as amended from time to time. The Rider Sum Assured shall not exceed 3 times the Sum Assured of the base Policy. Any increase/decrease in Sum Assured can only be done on the Policy Anniversary of the base Policy.
    • Return of Premium (ROP) option – Under ROP option, the Policyholder will get Total Premiums Paid (excluding any extra premium and taxes, if collected explicitly) upon maturity, if there was no Rider claim made during the Rider Term.
  • Exclusions:
    Rider Sum Assured will not be paid if the Accident is caused under any of the following circumstances.
    • Intentional self-inflicted Injury, attempted suicide, while sane or insane;
    • Life Assured person being under the influence of drugs, alcohol, narcotics or psychotropic substances unless taken in accordance with the lawful directions and prescription of a doctor.
    • War, invasion, act of foreign enemy, hostilities (whether war be declared or not), armed or unarmed truce, civil war, mutiny, rebellion, revolution, insurrection, military or usurped power, riot or civil commotion, strikes.
    • Taking part in any naval, military or air force operation during peace time or during service in any police, paramilitary or any similar organization.
    • Participation by the Life Assured in any flying activity, except as a bona fide, fare-paying passenger of a recognized airline or Pilots and cabin crew of a commercial airline, on regular routes and on a Scheduled timetable.
    • Participation by the Life Assured in a criminal or unlawful act with illegal or criminal intent.
    • Engaging in or taking part in professional sport(s) or any hazardous pursuits, including but not limited to, diving or riding or any kind of race; underwater activities involving the use of breathing apparatus or not; martial arts; hunting; mountaineering; parachuting; bungee jumping.
    • Nuclear Contamination; the radio-active, explosive or hazardous nature of nuclear fuel materials or property contaminated by nuclear fuel materials or Accident arising from such nature.
    • Suicide Exclusion
      In case of death due to suicide within 12 months from the date of commencement of risk under the Rider or from the date of revival of the Rider, as applicable, the Nominee or beneficiary of the Policyholder shall be entitled to at least 80% of the Total Premiums Paid till the date of death or the Surrender Value available as on the date of death whichever is higher, provided the Policy is in force.
    • Any other exclusion that forms a part of Policy Document will also apply.
• II.Future Generali Linked Accidental Total & Permanent Disability Rider
  In case of an unfortunate event of accident, in which the Life Assured suffers from Total or Permanent Disability to such an extent that the Life Assured cannot perform 3 out of 6 daily life activities without continuous assistance from another person during the Rider term, the Rider Sum Assured is paid.
  • An Accident is a sudden, unforeseen, and involuntary event caused by external, visible & violent measures.
  • “Injury” means accidental physical bodily harm excluding any Illness or disease, solely and directly caused by an external, violent, visible and evident means which is verified and certified by a Medical Practitioner.
  • Total and Permanent Disability:
    A life shall be regarded as being totally and permanently disabled under a "3 ADL Failure" definition of disability, only if that life, due to accident, has been rendered disabled to such an extent that there are at least 3 of the 6 activities of daily living which that life is unable to perform without the continuous assistance of another person.
  • The activities of daily living are:
    • Washing; the ability to wash in the bath or shower (including getting into and out of the bath or shower) or wash satisfactorily by other means,
    • Dressing: the ability to put on, take off, secure, and unfasten all garments and, as appropriate, any braces, artificial limbs, or other surgical appliances,
    • Transferring: the ability to move from a bed to an upright chair or wheelchair and vice versa,
    • Mobility: the ability to move indoors from room to room on level surfaces,
    • Continence: the ability to control bowel and bladder function so as to maintain a satisfactory level of personal hygiene,
    • Feeding: the ability to feed oneself once food has been prepared and made available.
  • Other Features:
    • Change in Sum Assured - The Policyholder may increase/decrease Rider Sum Assured within the range of minimum and maximum Sum Assured under the base Policy and further subject to the IRDAI Regulations 2024, as amended from time to time, The Rider Sum Assured shall not exceed the Sum Assured of base Policy. Any increase/decrease in Sum Assured can only be done on the Policy Anniversary of the base Policy.
    • Return of Premium (ROP) option – Under ROP option, the Policyholder will get Total Premiums Paid (excluding any extra premium and taxes, if collected explicitly) upon maturity, if there was no Rider claim made during the Rider Term.
  • Exclusions:
    Rider Sum Assured will not be paid if the Accident is caused under any of the following circumstances.
    • Intentional self-inflicted Injury, attempted suicide, while sane or insane.
    • Life Assured person being under the influence of drugs, alcohol, narcotics or psychotropic substances unless taken in accordance with the lawful directions and prescription of a doctor.
    • War, invasion, act of foreign enemy, hostilities (whether war be declared or not), armed or unarmed truce, civil war, mutiny, rebellion, revolution, insurrection, military or usurped power, riot or civil commotion, strikes.
    • Taking part in any naval, military or air force operation during peace time or during service in any police, paramilitary or any similar organization.
    • Participation by the Life Assured in any flying activity, except as a bona fide, fare-paying passenger of a recognized airline or Pilots and cabin crew of a commercial airline, on regular routes and on a Scheduled timetable.
    • Participation by the Life Assured in a criminal or unlawful act with illegal or criminal intent.
    • Engaging in or taking part in professional sport(s) or any hazardous pursuits, including but not limited to, diving or riding or any kind of race; underwater activities involving the use of breathing apparatus or not; martial arts; hunting; mountaineering; parachuting; bungee jumping.
    • Nuclear Contamination; the radio-active, explosive or hazardous nature of nuclear fuel materials or property contaminated by nuclear fuel materials or Accident arising from such nature.
    • Any other exclusion that forms a part of Policy Document will also apply.
• III.Flexibility to receive benefits
  Linked Accidental Death Benefit Rider and Linked Accidental Total & Permanent Disability Rider, both offer flexibility to receive Rider Sum Assured as either:
  • Lump sum Benefit- Rider Sum Assured will be payable as lumpsum.
  • Income for the income period chosen (from 2 to 10 years) - The income will be paid starting from the date of occurrence of insured event at a frequency (Yearly / Half Yearly / Quarterly / Monthly) and for the income period chosen. The payment frequency can’t be changed once the regular income commences.
  • Combination of lump sum and income for the income period chosen (from 2 to 10 years).

The default option to receive Rider Sum Assured is lump-sum benefit. The Policyholder can change it to any of the options during the Rider Term but before the occurrence of insured event.
The regular income instalments for frequencies other than annual shall be as specified below, where the Yearly Income below refers to the regular income payable in respect of annual frequency:

This benefit applies if it is in force on the date of accident resulting in death or disability of the Life Assured. The non-forfeiture provisions do not apply to this benefit.

The premium pertaining to health or critical illness riders shall not exceed 100% of the premium under the basic plan. The premiums under all other life insurance riders put together shall not exceed 30% of the premiums under the basic plan and any benefit arising under each of the above-mentioned riders shall not exceed the sum assured under the basic plan.

For further information, please refer the rider brochure

Free Look Period
Policyholder has the right option to cancel the policy within 30 days of receipt of the Policy Document (whether received electronically or otherwise) if the policyholder disagrees with any of the policy terms and conditions, or otherwise and has not made any claim, by giving a written request for cancellation of the policy to the company, stating the reasons for such objections.

On cancelation of the policy after such request, the Fund Value as on the date of cancellation of the Policy plus non-allocated premium, if any plus charges levied by cancellation of units minus (Stamp duty + medical expenses, if any, + proportionate risk premium for the period on cover) minus extra allocation, if any added to the Policy will be payable to the Policyholder.

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
Grace period means the time granted by the insurer from the due date of payment of premium, without any penalty or late fee, during which time the policy is considered to be in-force with the risk cover without any interruption, as per the terms & conditions of the policy. The grace period for payment of the premium for all types of life insurance policies shall be fifteen days, where the policyholder pays the premium on a monthly basis and 30 days in all other cases.
The policy will remain in force during the grace period.

Lock-in Period
It is a period of five consecutive completed years from the date of commencement of the policy, during which period the proceeds of the policies cannot be paid by the insurer to the policyholder or to the insured as the case may be, except in the case of death or upon the happening of any other contingency covered under the policy.

Revival Period
Means the period of three consecutive complete years from the Date of first unpaid premium .

VARIABILITY OF THE CHARGES

• The Premium Allocation Charge & Mortality Charge under the base plan are guaranteed throughout the policy term.
• The policy administration charge can be increased by not more than 5% per annum subject to appropriate approval and will not exceed Rs. 500 per month.
• The switching charges are subject to increase up to Rs.250500 per switch, subject to appropriate approval
• The Discontinuance charges are guaranteed.
• The company may change the Fund Management charges from time to time subject to appropriate approval. As per prevailing Regulations, the fund management charges will not exceed 1.35% p.a.
• The partial withdrawal charges may increase up to Rs 500 per withdrawal with prior appropriate approval.
• Charges deducted are subject to applicable tax as per prevailing tax laws.

A month’s notice will be given to the policyholder in case of an increase of charges whenever charges can be increased. The increase, if any, will apply from the policy anniversary coinciding with or following the increase. Any change in amount or rate of charges as stated above will be subject to appropriate approval.

RISK OF INVESTMENT IN THE UNITS OF THE PLAN

• Unit Linked Life Insurance products are different from the traditional insurance products and are subject to risk factors, as in the former, the investment risks in the investment portfolio is borne by the policyholder.
• ‘Future Generali India Life Insurance Company’ is only the name of the life insurance company and ‘Future Generali Bima Advantage Plus’ is only the name of the unit linked life insurance contract and does not in anyway indicate the quality of the contract, or its future prospects of return.
• Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document of the insurer.
• The various funds offered under this contract are the names of the funds and do not in any way reflect their quality, their future prospects and returns.
• The premium paid in unit linked life insurance policies are subject to investment risks associated with the capital markets and the NAV’s of the units may go up and down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions.
• Past performance of the funds is no indication of future performance which may be different. The investments in the Units are subject to market and other risks and there can be no assurance that the objectivities of any of the funds will be achieved. The funds do not offer guaranteed or assured return.
• Tax benefits are subject to change in law from time to time. You are advised to consult your tax consultant.
• The linked insurance plans do not offer any liquidity during the first five years of the contract.

The policyholder will not be able to surrender/withdraw the monies invested in linked insurance plans completely or partially till the end of the fifth year.

Grievance Redressal Processes
In case you have any grievances on the solicitation process or on the Product sold or any of the Policy servicing matters, you may approach the Company in one of the following ways:

• Calling the Customer helpline number 1800-102-2355 for assistance and guidance
• Emailing @ care@futuregenerali.in
• You may also visit us at the nearest Branch Office. Branch locator - https://life.futuregenerali.in/branch-locator/
• Senior citizens may write to us at the following id: senior.citizens@futuregenerali.in for priority assistance
• You may write to us at: Customer Services Department Future Generali India Insurance Co. Ltd, Unit 801 and 802, 8th floor, Tower C, Embassy 247 Park, L.B.S Marg, Vikhroli ( W ) Mumbai – 400083

We will provide a resolution at the earliest. For further details please access the link: https://life.futuregenerali.in/customer-service/grievance-redressal-procedure