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Future Generali Life Insurance Company one of the highly established insurance companies not only in India but also beyond. The company offers a handful of policies in regards to life insurance, hence the need to give it a trial.
Future Generali has sourced over 12 lakh policies since inception
The company operates in 75 locations across India which makes it able to reach out to a large audience in need of life insurance. All products presented by this company are easy to understand and offers clients easy and friendly time when seeking assistance.
Over the years, Future Generali Life Insurance Company has been very keen in ensuring that customers leap enough benefits and that their security is assured. The prime benefits of buying life insurance from this company include:
Simplified Claim Procedure- No doubt that most people worry about the duration it will take for their claim on insurance to materialize. Future Generali Life Insurance Company provides clients with the friendliest yet easy claim process. No time to waste.
Close Connection with Clients- With 75 points of operation in India, Future Generali ensures a strong connection with clients. This means that any need can be easily addressed from your nearest operation point of the company.
Variety of Plans and Offers- The company provides prospective and existing customers a wide range of plans to choose from. This is in regards to the varying needs and requirements of individuals.
Flexibility- The company provides flexible and friendly terms to customers. The manner in which premiums are paid is flexible enough. Additionally, assorted plans featured in the company offer ample room for customer flexibility.
Assured Security and Authenticity- The company is among the most trusted insurance companies in India. This grants clients the sense of security. You are assured maximum security for your funds.
Operation Round The Clock- The company provides its services round the clock. You can opt to appear in the company in person. You can also opt to make a call and have your problem addressed. Alternatively, you can get the services that you need in the Future Generali Life Insurance Company’s online portal. You are at liberty to choose the friendliest way of connecting with the company.
One of the strong points of Future Generali Life Insurance Company is the many plans it offers clients. The company has been introducing new plans often. The old ones still exist. The bottom line is that the wings of Future Generali Life Insurance Company keep spreading hence offering ample coverage to all. Among the plans that you might be interested in include:
This plan is meant to ensure that you have enough savings for your family and loved ones. This is to secure the future even after your demise. The key features of this plan include:
Friendly Payment Options- You can opt to pay on yearly, half-yearly, quarterly, or monthly basis. It all depends on the nature of income flow. You are at liberty to choose the payment option that fits your specifications squarely.
Attractive Maturity Benefits- The criterion under which benefits are given is build around the sum assured. Upon maturity, the company will grant the sum assured, alongside bonuses, and even a terminal bonus if any. The benefits, therefore, are good enough to meet the specifications of clients.
Friendly Minimum Premium Rate- The company understands the needs of individuals and that is why the minimum premium rate on individuals is friendly. The company seeks INR 12,000 per annum.
Diverse Customer Membership Bracket- To be among the customers of this company, you must be over 3 and below 55 years of age. Children can therefore be conveniently insured under this company.
Tax Benefits- Future Generali Life Insurance Company grants customers the privilege of enjoying friendly tax benefits. There is the chance of paying lesser tax on successful and processed claims.
This is a future investment plan whose aim is to give individuals a good foundation that will be of benefit in the future life and after death.
Limited Premium Payment Term- This plan only allows you to pay premiums for a given duration after which you are expected to wait for maturity. The mechanism under which this plan operates ensures that you start enjoying returns in a short time.
Annual Premium Payment- Flexibility in terms of premium payment is limited to yearly basis. This makes it ideal for individuals who can gather the amount and present it to the insurance company annually.
Friendly Policy Term- There are 3 policy terms that this plan operates under. It can take 10, 15, or 20 years to mature. The duration it will take depends on the amount insured and the preference of the insured.
Maturity Benefit- Upon maturity, the insured party is paid immediate fund value based on the amount insured and the bonuses acquired. The company takes the shortest duration to process.
Settlement Option- The Company provides you with the option of settlement. In case you decide to settle for that, the company will quickly make arrangements for you to get the respective settlement.
For those who are investment-oriented, this is the right plan for you.
Death Benefit- In an event of death, the insured is paid with the value of the amount insured. This provides a financial safety net to the loved ones of the insured.
Maturity Benefits- upon maturity, the beneficiaries are assured fund value. This means that the amount that the beneficiaries will get shall be guided by the amount insured.
Combination of Protection and Investment- The plan is meant to provide financial protection to your family after your demise. Additionally, the plan provides customers with the chance to venture into investment.. The company will provide coverage for the customer such that potential risks will be absorbed during investment.
Friendly Policy Term- Based on individual needs, requirements, and financial capacity, policy term varies. Future Generali Life Insurance Company provides a range of 10 to 30 years policy term. You can choose the duration in regards to the provided range.
Premium Payment Frequency- The plan is designed for those who can make their payment on annual basis. If you are able to have the required amount as per the plan by the end of each year, then this can work ideally.
Tax Benefits- The company assures you friendly tax benefits. In other words, a certain percentage of tax may be waived off hence offering you the chance to get a higher amount of your claim.
If your aim is to maximize investment, this could be the right plan for you. With this, you have the chance to maximize investment since all premiums paid are directly invested in your chosen funds. No allocation charges are involved.
Premium Payment- This is a different plan since it requires you to pay one-time lump sum premium. In this regard, if you feel that you can afford the amount at a go, the plan can work ideally for you.
Death Benefit- In an event of death, the company grants both the fund value plus the sum assured. The intention of offering returns in such a way is to ensure that the insured party gets enough to facilitate survival of the beneficiaries after the death of the policyholder.
Allocation Charges- Future Generali Life Insurance Company does not impose any allocation charges on the insured. This comes as a benefit, especially to those whose intention is to invest.
Funds Access After 5 Years- Upon hitting the 5th year, the company can process your money for short-term needs. However, it must be noted that long-term needs may not be addressed in the 5th year of the policy. Additionally, the said benefits cannot be enjoyed when the policy has not attained 5 years.
Switching- To ensure that individuals are able to manage their funds and investment, Future Generali Life Insurance Company offers the option to switch. This means that one can move from one fund option to another for the purpose of keeping investment in alignment. .
This plan is meant for people who would like to be insured as a group. It is a life insurance policy that targets groups.
Payment frequency- You can opt to pay on yearly, half-yearly, quarterly, or monthly basis. It all depends on the nature of income flow. You are at liberty to choose the payment option that fits your specifications squarely.
Death Benefits- The beneficiary gets the value of the sum assured upon demise and upon maturity.
Minimum Premium Rate- The company understands the needs of individuals and that is why the minimum premium rate on individuals is friendly. The company seeks IR 5,000 per member in groups of 500 people and above. IR 1,000 per member for ordinary groups.
Diverse Customer Membership Bracket- To be among the members of this company, you must be over 18 and below 69 years of age. Young adults and grownups can therefore be conveniently insured under this company.
Minimum Group Size- It is a requirement that the group of the interested parties should not fall below 25 people.
This is a Term Life Insurance plan which helps the nominees in tight financial situations in an unfortunate death of the policyholder.
Death Benefit- The beneficiary gets the value of the sum assured upon death.
Entry Age- The entry age for this plan is between 18 to 60 years..
Maturity Age- The amount of time it will take for your policies to mature is dictated by the amount of money insured. However, it should be noted that maturity under this plan ranges between 18 and 60 years.
Premium Payment Frequency- The frequency of payment should be yearly, half-yearly, and monthly.
Minimum Premium Rate- Based on the preference of an individual, this company gives you the liberty to either make payments on monthly or annual basis.
The education of your loved ones matters a lot even after your demise. To secure the education of your children and loved ones, you can go for the Future Generali Assured Education Plan. It comes with the following features:
Entry Age- It is a requirement that the parent of the child involved should be between the age of 21 and 50 years. It is also a requirement that the child being insured should be between the age of 0 and 10 years. An additional benefit is that the parent of the child will be life assured under this plan.
Policy Term- The age of the child in question is the key determinant on the term that a policy will be active for. In this case, the company gives 17 years minus the age of the child at the age of policy purchase. This reflects to 7 years if the child in question is under the age of 10 years. The company offers you a maximum of 17 years in case the child in question is a newborn.
Frequency of Premium Payment- The parent can decide to take the annual premium payment plan. This requires that the cumulative value of premiums should be paid on yearly basis. Alternatively, the parent can opt for a monthly plan. This is where payment is made on monthly basis.
Premium Payment Term- The company requires you to pay premiums for a duration equivalent to that of the policy. If the policy is for 10 years, then premiums should be paid for 10 years.
Minimum Premium Rates- Individuals are required to pay a sum of IR 20,000 on annual basis. Alternatively, a sum of IR 2,000 can be paid on monthly basis. It all depends on individual preference.
Maturity- The minimum maturation duration of this plan is 35 years while the maximum is 67 years. Upon maturation, the insured is granted the benefits that come with the this plan. The age of the child and the amount insured dictate the duration it takes for maturity.
The company shall nullify the validity of the insurance cover in instances of:
Intentional Death- Death as a result suicide is not considered natural hence not valid for compensation within the first policy year.
Breach of Contract - In case the terms and conditions of the company are violated, the contract may not be considered valid.
Future Generali Life Insurance Company does not prompt a long process of placing a claim. In just 3 steps, you will be able to process your claim:
This is where you are required to fill a claim form and attach all the required documents including death certificate(in case of death of the insured), medical certificate, and account details. The form should be submitted to the closest branch for the purpose of launching the claim formally.
Upon submission of the required documents, the claim process begins immediately. There may be communication between the claimant and the company during the process for the sake of clarification.
This is the final stage where the company takes the mandate of deciding if the claim is valid or not. Direct credit to the claimants account is made upon confirmation that the claim is valid.
For further assistance here are the contact details of the company:
Contact number: 1800 220 233 1860 500 3333 022 67837800
The claim settlement ratio of Future Generali Life Insurance Company stands at approximately 89.47% for the year 2016-17. The parent company under has managed to pull over IR 1,507 Crore. The investment team under the company has the privilege of managing assets worth Rs 2,800 Crore. This is an indicator that the company is strong enough to facilitate the needs of individuals, as far as insurance is concerned.
Who Should Enjoy Claim Benefit?
The beneficiary or the nominee as stated in the company’s contract is the only person entitled to claim benefits. Beneficiaries vary from proposer to assignee, to life assured.
How Can I Get More Benefits From Future Generali Life Insurance Company?
It is simple. The higher the value of sum insured, the higher the prospective benefits.
How Can I Ensure That My beneficiaries Get The Claim?
It begins with making regular premium payments. Aside from that, you must ensure that personal details are updated and that they are correct.
What Are The Modes of Investment Recommended By The Company?
Among the recommended modes of investment include; mutual funds, ULIP funds, direct trading, and portfolio management schemes.
How Long Does It Take For a Policy To Mature?
It depends on the policy chosen. Each policy at Future Generali Life Insurance Company has its own specifications in terms of maturation duration.