Future Generali Insurance plans

Future Generali Life Term Plan with Return of Premium

A term plan with return of premium is a term insurance policy which ensures maturity benefits to the insured by refunding all the premiums paid plus any bonus accrued, if he stays alive even after the policy’s expiry
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Future Generali Life insurance review

Future Generali Life Insurance plans
Distribution - Number of branches pan India (March 2019)
117
Entry Age Minimum/Maximum (Years) - Term Plans
18/55
Sum Assured Minimum / Maximum - Term Plans
3 lacs / Unlimited
Policy Term Minimum / Maximum (Years) - Terms Plans
10/65
Solvency Ratio (FY 2018-19) *
1.62
Number of Policies Sold (Ind+Group) *
65,325
Number of Lives Covered (Ind+Group) **
629,811
Claims Settlement Ratio (Ind+Group) ***
95.72%
* - As per IRDAI data 2018-19 - The solvency ratio of an insurance company is the size of its capital relative to all the risk it has taken, which is all liabilities subtracted from total assets. In other words, solvency is a measurement of how much the company has in assets versus how much it owes
** - as per L-25 Public Disclosure of Insurance Companies for 2019-20  |  *** - Claims Settlement Ratio = Claims Settled in the year / Claims Reported in the year - as per IRDAI data published

Future Generali Life Term Plan with Return of Premium Insurance Overview

  • Key Features
  • Eligibility

Key features of Future Generali Life Term Plan with Return of Premium Insurance

  • Death Benefit: If the insured unfortunately passes away during the policy period, the nominee shall be paid the entire sum assured as death benefit.
  • Maturity Benefit: If the insured outlives the term policy period, he shall be paid a maturity/survival benefit in the form of the return of all premiums paid along with any bonus accrued on them.
  • Riders: In addition to the main policy’s lump sum death benefit, the term plan with return of premium allows itself to be combined with several insurance riders such as critical illness rider, accidental death rider or a hospitalization cash rider.
  • Tax Benefits:The premiums paid can be claimed for tax exemption under section 80C and section 10(D) of the Indian Income Tax Act. Also, the entire maturity benefit received by the insured also remains tax free

Eligibility Criteria of Future Generali Life Term Plan with Return of Premium Insurance

Entry Age(as on last Birthday) 18 years - 55 years
Maturity Age 28 years - 75 years
Plan Options Option A: Lump sum Protection
Option B: Income Protection
Policy Term 10 year - 35 years
Payout Period (Applicable only for Option B) 10 / 15 / 20 years
Sum Assured Minimum - Option A: `2,00,000
Option B: `9,02,119(For a minimum Monthly Income of `10,000)
Maximum - No limit (subject to underwriting)

Brochure

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Policy wordings

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CIN: U66000KA2018PTC117713 | IRDAI Web aggregator License Code Number: IRDAI / INT / WBA /53/ 2018, Valid till 07/08/2025