Future Generali Express Term Life Plan is a non-linked non-participating term life insurance plan that secures the future of our loved ones in case of your absence. This term insurance offers comprehensive long term protection with a customized plan to suit every individual requirement. And there is the flexibility to choose policy and premium payment terms for the insured person. So if you want an affordable term insurance plan like Future Generali Express Term Life Plan, read this page and know more about its features and benefits.
Four Options of Future Generali Express Term Life Plan
When you’re buying the Future Generali Express Term Life Plan, you can choose from the following protection options –
- Option 1: Life Cover
- Option 2: Extra Life Cover
- Option 3: Life plus Health Cover
- Option 4: All in One Cover
Option 1: Life Cover
If you choose this option, you/your nominee will receive a lump sum in case of death or terminal illness, whichever is earlier. In the case of Accidental Total Permanent Disability (ATPD), the company would waive all future premiums under the policy.
Option 2: Extra Life Cover
With this option, a lump sum is payable when death or terminal illness arises during the policy term, whichever comes earlier. And all your future premiums will be waived in case of ATPD. Also if the death of the life assured is caused due to an accident, the nominee shall receive an additional lump sum amount.
Option 3: Life plus Health Cover
With this option, you not only get the lump sum in case of death or terminal illness but also get covered against the following 34 critical illnesses.
- Cancer of specified severity
- Open chest CABG
- Myocardial Infarction (First heart attack of specific severity)
- Kidney failure requiring regular dialysis
- Major organ/Bone marrow transplant
- Benign brain tumor
- Stroke resulting in permanent symptoms
- Coma of specified severity
- End-stage liver failure
- End-stage lung failure
- Open heart replacement or repair of heart valve
- Loss of limbs
- Third-degree burns
- Major head trauma
- Permanent paralysis of limbs
- Primary (Idiopathic) Pulmonary Hypertension
- Loss of Speech
- Motor Neuron Disease with Permanent Symptoms
- Multiple Sclerosis with Persisting Symptoms
- Major Surgery of Aorta
- Apallic Syndrome
- Brain Surgery
- Alzheimer’s Disease
- Muscular Dystrophy
- Parkinson’s Disease
- Loss of Independent Existence
- Medullary Cystic Disease
- Systemic Lupus Erythematosus
- Aplastic Anaemia
Option 4: All in One Cover
Under this option, you will get all the benefits of options 1, 2 and 3. However, this cover is available only under the regular pay premium term.
Future Generali Express Term Life Plan Death Benefit
If the life assured dies during the policy term, the death Sum assured from the highest of the following will be payable to your nominee, provided the policy is in force:-
- 10X the annualized premium (excluding taxes and extra underwriting premiums)
- 105% of total premiums paid (excluding taxes and extra underwriting premiums)
- An absolute amount that is assured to be paid on death, is equal to the sum assured
Future Generali Express Term Life Plan Accidental Death Benefit
In the case of accidental death, the injury that is sustained due to the accident shall be the sole and direct cause of death. Also, the accidental death benefit shall apply only within 180 days from the occurrence of the accident. Whereas if the accident has occurred during the policy term and accidental death occurs after the policy term but within 180 days from the date of the accident, the accidental death benefit is still payable.
Future Generali Express Term Life Plan Critical Illness Benefit
You shall receive a sum assured from INR 5 lakh to INR 50% of the sum assured of INR 1 Crore, whichever is less. The critical illness sum assured shall be payable under Future Generali Express Term Life Plan only if you undergo treatment for the diagnosed critical illness. However, in the case of procedures like – Angioplasty, the critical illness sum assured is limited to INR 5 lakh if your critical illness sum assured is < INR 50 lakh. It would be raised to INR 10 lakh where critical illness sum assured is >= INR 50 lakh.
Future Generali Express Term Life Plan Terminal Illness Benefit
If you are suffering from a condition; which in the opinion of your attending medical practitioner and the company appointed medical practitioner is likely to lead to death within 6 months, you will receive the terminal illness benefit under your Future Generali Express Term Life Plan.
Note – The terminal illness should be diagnosed and confirmed by the medical practitioners registered with the Indian Medical Association (IMA) and approved by the company. Here, the company reserves the right for an independent assessment of the life assured condition, and the cost for this shall be borne by the company.
Future Generali Express Term Life Plan ATPD Benefit
If you are diagnosed with ATPD due to an accident, provided the policy is in force, all future premiums of this policy will be waived. You are considered to be diagnosed with ATPD if you are unable to perform any of the three following activities:-
- Ability to walk (at least a distance of 200 meters) on a flat ground
- Ability to bend or kneel
- Ability to climb stairs both up and down
- Ability to pick up an object (weighing at least 2 kg)
- Ability to write using a pen/pencil, desktop/personal computer keyboard
- Loss of sight (where vision is measured at 3/60)
You can claim the ATPD benefits only if the following conditions apply in your case:-
- Disability for a minimum of 180 days
- ATPD deemed permanent by the company empaneled medical practitioner
- The accident that causes ATPD must be by violent, external and visible means
- If you sustain a bodily injury or injuries from the accident within 180 days of its occurrence and if that leads you to permanent disability after 180 days of the accident, the company shall not be liable to pay the ATPD benefit
- The policy must be in force at the time of the accident
Future Generali Express Term Life Plan Free Look Period
You will get a free look period of 15 or 30 days during which you can review the terms and conditions of the policy. This free look period shall start from the receipt of the policy document. In case you find the terms and conditions unacceptable, you can return the policy too! For cancellation, you need to state your objections, and when your cancellation is approved, Future Generali will refund the paid premium after a deduction of the proportionate risk premium for the period of cover, stamp duty charges and the medical examination fee, if any.
Note – The free look period will be of 30 days only if the policy is purchased via distance marketing mode like telephone calls, SMS, e-mail, internet, interactive television, direct mail, newspaper and magazine inserts or any other means of communication other than in person.
Exclusions from Future Generali Express Term Life Plan
The company won’t be liable for any of the following under this term insurance plan –
Under Death Benefit
If you commit suicide within 12 months from the date of inception or revival of the policy, the nominee/beneficiary shall receive an amount which is 80% of the premiums paid or the surrender value, whichever is higher.
Under Accidental Total and Permanent Disability (ATPD)
- Attempted suicide or self-inflicted injuries
- Any narcotic substance, drug or intoxicating liquor abuse
- Engagement in aerial flights such as parachuting and skydiving; or traveling other than as a fare-paying passenger and crew on a licensed passenger-carrying commercial aircraft
- Committing any breach of law
- Engaging in hazardous sports or pastimes like boxing, caving, climbing, horse racing, jet skiing, martial arts, mountaineering, off-piste skiing, potholing, powerboat racing, underwater diving, yacht racing, or any other race, trial, or timed motorsport.
Under Accidental Death Benefit
- Self-inflicted injury or suicide
- criminal activity with criminal intent
- Under the influence of drug, alcohol, or other narcotic substances
- Engaging in hunting, mountaineering, steeplechasing, racing, bungee jumping, river rafting, scuba diving, paragliding or such other adventurous sports or hobbies
- breach of law with criminal intent
- Aviation or aeronautics other than fare-paying, part-paying or non-paying passenger, in any aircraft
- Nuclear reaction, radiation or nuclear or chemical contamination
Under Critical Illness Benefit
- Pre-existing disease, ailment or injury up to 48 months from the date of the first policy issuance
- Any investigation or treatment for any illness, disorder, complication or ailment related to the pre-existing illness
- Consequences of pre-existing conditions
- Failure to seek or follow medical advice or treatment
- Self-inflicted injuries or suicide
- Participation in an illegal or criminal activity
- Abuse of intoxicating drugs, alcohol or any such solvent (unless prescribed by the doctor)
- Radioactive contamination due to nuclear accident
- War, civil commotion, breach of law with criminal intent, invasion, hostilities, rebellion, revolution, military/usurped power or wilful participation in acts of violence.
- Engaging in hazardous sports like boxing, caving, climbing, horse racing, jet skiing, martial arts, mountaineering, off pastel, skiing, potholing, powerboat racing, underwater diving, yacht racing or any race, trial or timed motorsport, bungee jumping, hand gliding, etc.
- Aviation including parachuting, skydiving, gliding or any form of aerial flight other than as a fare-paying passenger
- Sexually Transmitted Disease (STD) and its related complications
- Acquired Immune Deficiency Syndrome (AIDS)
- Any Human Immuno-deficiency Virus (HIV)
- Isolated or benign kidney cysts
- Drug-induced or toxic causes of Parkinson’s disease
- Non-organic disease – neurosis and psychiatric illnesses
- Alcohol-related brain damage
- Any other type of irreversible organic disorder/dementia
- Diagnostic angiography or investigation procedures without angioplasty/stent insertion
- Cardiomyopathy if related to alcohol or drug abuse
- Spinal cord injury
- Liver failure secondary due to drug or alcohol abuse
- Coma resulting from alcohol or drug abuse
- Malformations in the arteries or veins of the brain
- Pituitary tumors
- Tumors of skull bones and
- Tumors of the spinal cord
- Transient ischemic attacks (TIA)
- Traumatic injury of the brain
- The vascular disease affects only the eye, optic nerve or vestibular functions.
- Other stem-cell transplants where only islets of Langerhans are transplanted
- Other acute Coronary Syndromes
- Any type of angina pectoris
- Rise in cardiac biomarkers or Troponin T or I if overt ischemic heart disease or any intra-arterial cardiac procedure is not present
- Any intra-arterial procedures
- All tumors if histologically described as carcinoma in situ, benign, pre-malignant, borderline malignant, low malignant potential, neoplasm of unknown behavior, noninvasive, carcinoma in situ of breasts, cervical dysplasia CIN1, CIN – 2 and CIN-3.
- Non-melanoma skin carcinoma (unless there is evidence of metastases to lymph nodes or beyond)
- Malignant melanoma that doesn’t cause invasion beyond the epidermis
- All tumors of the prostate (unless histologically classified as having a Gleason score > 6 or having progressed to at least clinical TNM classification T2N0M0
- All Thyroid cancers histologically classified as T1N0M0 or below
- Chronic lymphocytic leukemia < RAI stage 3
- Non-invasive papillary cancer of the bladder histologically described as TaN0M0 or od a lesser classification
- All Gastro-Intestinal Stromal Tumors histologically classified as T1N0M0 (TNM Classification) or below and with mitotic count of <= 5/50 HPFs
- All tumors in the presence of HIV infection