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Future Generali Group Term Life Insurance Plan

Future Generali Group Term Life Insurance Plan

  • About

    Designed for groups that want to provide affordable life insurance coverage to their members

  • Death Benefits

    Sum Assured

  • Member’s Age at Entry

    18 to 69 years

  • Policy Term

    1 year (renewable)

  • Minimum Sum Assured Per Member

    For social groups with 5000 members or above – Rs 1000/- per member.
    For other groups – Rs 5000/-.

  • Riders


  • Minimum Group Size


  • Tax Benefit



  • You can provide life insurance cover to all your members under a single plan.
  • Sum Assured is paid on the death of a member covered under the plan.
  • You can add and delete members on a monthly basis.
  • It is a tool for providing employee incentive and improving employee retention.

How it Works

The plan is ideal for employers or groups that wish to monetarily secure the families of their employees or members. Here are the steps to get the Future Generali Group Term Life Insurance plan:

Step1Decide the amount of cover
  • Choose the amount of cover you want for each of your members.
Step2Choose the benefit option (basic term cover)

Decide the benefit option or basic term cover from these:

  • Flat Coverage (outstanding loan, size of bank deposit, etc.)
  • Graded Coverage (based on employee grades in corporate/ company)
  • Salary Multiple (based on multiple of salary)
  • Others - (outstanding loan/ liability amount/ size of bank deposit, etc.)
Step3Get a premium quote

The premium for the coverage is calculated by FGLI and can be paid in Yearly/ Half-Yearly/ Quarterly/ Monthly terms.

Step4Pay the premium
  • You can pay the premium and start the cover.


  • Death Benefit In the event of an employee’s or a member’s death during the Policy Term, the Sum Assured under the policy is payable to the designated beneficiary.
  • Maturity Benefit There are no Maturity Benefit under this plan.
  • Surrender Benefit There are no Surrender Benefit under this plan.


Member’s Age at Entry Premium Per Group / Scheme Minimum Sum Assured Member’s Maximum Age at Maturity Policy Term Minimum Size of the Group
18 to 69 years Minimum: 2,500/-

Maximum: No Limit
Rural and Social Group
if Number of Members is 5,000 or more:
1,000/- (Per Member)

Other Groups
5,000/- (Per Member)
70 years One Year 25 Members Per Group



Suicide Clause: In case an insured member commits suicide within 12 months from the risk commencement date of the member, his/her nominee will receive 80% of the premiums paid in respect of the insured member. This clause is not applicable for renewed policy and compulsory employer-employee groups.


Future Generali Group Term Life Insurance Plan (UIN: 133N003V02)

  • Tax benefits are subject to change as per tax laws.
  • For more details on risk factors, terms and conditions please read the sales brochure and/ or sample policy document on our website carefully and/ or consult your advisor before concluding the sale.
  • Insurance is the subject matter of solicitation.
Copyright © 2016. Future Generali India Life Insurance Company Ltd. All Rights Reserved.

Tax benefits are as per Income Tax Act, 1961, and are subject to modifications made thereto from time to time. Insurance is the subject matter of the solicitation. BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS IRDAI clarifies to public that IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.


Future Generali India Life Insurance Co. Ltd, Indiabulls Finance Centre, Tower 3,6th Floor, Senapati Bapat Marg, Elphinstone(W), Mumbai-400013. IRDAI Registration No: 133. CIN:U66010MH2006PLC165288