Health Insurance 184 views June 30, 2021

Future Generali Heart and Health Insurance Plan

Future Generali Heart and Health Insurance Plan protects you and your family against unforeseen medical conditions. It provides a fixed benefit amount that helps cover hefty medical treatment costs (in critical illness), second opinion and post-treatment expenses. This plan from Future Generali offers financial protection if you or your family member is diagnosed with a heart-related ailment or any other critical illness.

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Before understanding the plan further, let’s check its highlights mentioned below.

  1. Flexible sum assured options
  2. Comprehensive Critical Illness Cover
  3. Flexibility to choose from four protection plan options
  4. Lump sum payout on diagnosis
  5. The inbuilt death benefit from Day 1 of the policy
  6. Multiple Claim Benefit (Claim up to two times under the minor and moderate stage claim category)
  7. Waiver of premium benefit once during the policy term
  8. Multiple premium payment modes – Annual, Quarterly, Half-yearly and Monthly
  9. Online discounts of 5% on the premium amount
  10. A 15 or 30-day free look period
  11. Option to change premium payment frequency
  12. A 15 or 30-day grace period
  13. Tax Benefits under Income Tax Act, 1961

On this page, we will be talking about these features extensively so that you can make a better decision. Let’s start!

Features and Benefits of Future Generali Heart and Health Insurance Plan in Detail

Future Generali Heart and Health Insurance Plan is a non-linked non-participating (without-profits) health insurance plan that helps you become financially prepared against any medical emergency.

We are discussing its features and benefits below that you can check.

Flexible Sum Assured Options

With the Heart and Health Insurance Plan from Future Generali, you can choose from multiple sum assured options – INR 5 lakh, INR 10 lakh, INR  20 lakh, INR 30 lakh, INR 40 lakh and INR 50 lakh.

Option to Choose Protection Plan

You can choose from four flexible protection plan options as per your health needs. Each plan protects you and your family differently. To know more, check the below table.

Protection PlanDetails
Option 1: Heart CoverCovers Minor, Moderate and Major Stage Heart-related Conditions as well as 18 Critical Illnesses
Option 2: Critical Illness CoverCovers Minor, Moderate and Major Stage Heart-related, Cancer-related and 59 Critical Illness Conditions
Option 3: Heart Cover with Return of PremiumCovers Minor, Moderate and Major Stage Heart-related Conditions

Return of paid premiums at maturity.

Covers 18 Critical Illnesses
Option 4: Critical Illness Cover with Return of PremiumCovers Minor, Moderate and Major Stage Heart Related, Cancer Related and other Critical Illness Conditions

Return of paid premiums at Maturity

Covers 59 Critical Illnesses

Policy and Premium Payment Term of the Future Generali Heart and Health Insurance Plan

The premium payment term will be the same as the policy term chosen by the policyholder at the inception of the policy. However, the policy term depends on the protection plan and the policyholder’s age. To know more, check the below table.

Protection PlanPolicy Term (In Years)
Option 1 and 210, 15, 20, 25, 30 and (75 minus the age at entry)
Option 3 and 4Up to 50 years - 10, 15, 20, 25, 30 and (75 minus the age at entry)

For 51 to 65 years - 10

Critical Illness Benefit

Future Generali Heart and Health Insurance Plan offers critical illness benefits on all four protection plan options. You can know more about them in the table below.

Extent of Critical IllnessCritical Illness Benefit
Minor25% of the Critical Illness Sum Assured, up to a maximum claim benefit of two minor conditions + Waiver of premium for 5 years or till the end of the Policy Term, whichever is earlier (only for the first minor condition claim)
Moderate50% of the Critical Illness Sum Assured (up to a maximum claim benefit of two moderate conditions) + Waiver of premium for 5 years or till the end of the Policy Term, whichever is earlier (only for the first moderate condition claim)
Major100% of the Critical Illness Sum Assured

Here, the critical illness sum assured will be the higher of the following amounts.

  1. Sum assured
  2. 105% of the total paid premium

Note: Overall critical illness benefit amount payable cannot be more than 100% of the sum assured fixed for the same.

Maturity Benefits

Policyholders will get maturity benefit upon surviving till the maturity date and if all installment premiums have been paid. The guaranteed sum assured on maturity will be equal to the sum of all installment premiums paid minus any critical illness benefit paid.

Note: Maturity benefit will be available only with Heart Cover with Return of Premium Option and Critical Illness Cover with Return of Premium Option.

Death Benefit

If a policyholder dies during the policy term, the concerned nominee or beneficiary will get a death benefit, which will be the highest of the following amounts.

  1. 5% of the Sum Assured
  2. 10 times the Annualized Premium
  3. 105% of all the premiums paid till the date of death
  4. Guaranteed Maturity Benefit, if any

Lump Sum Payout on Diagnosis

This health insurance plan from Future Generali pays a lump sum amount to the policyholder on the diagnosis of any of the listed conditions. This amount helps cover the expenses incurred on the medical treatment, second opinion & treatment, rehabilitation, nursing at home and post-treatment counseling. You can also manage the loss of income during the treatment and recovery period with this lump sum amount.

Future Generali Heart and Health Insurance Plan Eligibility Criteria

Do check the important conditions related to the plan mentioned below.

  1. The minimum age at entry stands at 18 years, while it can go up to 65 years.
  2. The maximum age of the policyholder allowed till maturity remains 75 years.

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