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Future Generali Loan Suraksha

Future Generali Loan Suraksha

  • Age at Entry

    18 to 65 years

  • Policy Term

    2 to 30 years

  • Premium Payment Term

    Single premium

  • Maturity Age

    Maximum: 70 years

  • Minimum Sum Assured

    Rs 20,000

  • Maximum Sum Assured

    No limit

  • Minimum Group Size

    50 members


  • The plan aims to provide a life cover to all borrowers which in turn secures the credit/loan.
  • You can provide coverage to your member’s for a wide range of loans - Housing Loans, Vehicle Loans, Personal Loans, Education Loans, Business Loans, Loan against Property, Merchandise Loan, Consumer Durable Loans, Credit Card Groups, Asset Backed Loans and Gold Loans.
  • The plan can be taken on a single life as well as on a joint life or as a co-borrower. On a joint life cover, a discount of 10% is applicable on each joint life premium.
  • The plan will be covered under the following variants: Reducing Cover and Level Cover.
  • Under this plan, your member gets tax benefits as per prevailing tax laws.

How it Works

Step1Decide your coverage

The plan coverage is equal to the sanctioned / outstanding loan amount as mentioned in the loan schedule.

Step2Calculate your premium amount

Your premium will depend upon:

  • Loan amount sanctioned
  • Loan duration and interest rate
  • The borrower’s age at the time of applying for the plan
Step3Pay your one time single premium to start your cover


Single Life: - Outstanding loan amount as per the Loan Schedule

Co-borrower / Joint Life Cases

  Covered for respective share of loan Covered for 100% of loan amount on first death basis
Amount payable on death of the member In case of death of any one of the co-borrowers, his/her respective loan share as per the loan schedule is payable, subject to terms and conditions of the master policy. In case of death of any one the joint borrowers, where both the borrowers are insured on the entire loan amount, the outstanding loan amount as per the loan schedule is payable, subject to terms and conditions of the master policy.
Life cover for surviving member The insurance cover on the life of the surviving member will continue for his/her respective loan share for the balance repayment term. Insurance cover will cease to exist on the life of the surviving borrower.
If Master Policyholder is a To whom the Death Benefit is payable
1.Reserve Bank of India (RBI) Regulated Scheduled Banks (including Cooperative Banks)
2. NBFCs having Certificate of Registration from RBI
3. National Housing Bank (NHB) Regulated Housing Finance Companies
Subject to terms and conditions of the master policy, the Death Benefit will be directly payable to the Master Policyholder to the extent of outstanding loan amount; Death Benefit amount in excess of outstanding loan amount (if any), will be paid to the nominee/ appointee / legal heir of the Insured Member.
Other Master Policyholders Subject to terms and conditions of the master policy, the Death benefit will be paid to the nominee/ appointee / legal heir or estate of the Insured Member

Maturity Benefit - There is no maturity benefit under this plan


Entry age 18 – 65 years
Maximum Maturity Age 70 years
Sum Assured Range Rs 20,000 to no maximum limit (subject to underwriting considerations)
Policy Term Range Corresponds to loan term between 2 to 30 years
Premium Payment Term Single Premium only
Minimum Group Size 50 members



In case the insured member commits suicide whether sane or insane, within 12 months from the policy inception date or from the date of inception of the member under the group insurance scheme, whichever is later, then higher of 80% of the premiums paid or surrender value in respect of concerned insured member is payable to the nominee/beneficiary.


Future Generali Loan Suraksha (UIN: 133N053V02)

  • Tax benefits are subject to change as per tax laws.
  • For more details on the risk factors and the 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.


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.

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.

Indiabulls Finance Centre, 6th Floor, Tower 3, Senapati Bapat Marg, Elphinstone West Mumbai, Maharashtra
400013 India IRDAI Registration No: 133. Upto 31st March 2018. CIN:U66010MH2006PLC165288