Term Insurance February 13, 2021

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.

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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 –

  1. Option 1: Life Cover
  2. Option 2: Extra Life Cover
  3. Option 3: Life plus Health Cover
  4. 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.

  1. Cancer of specified severity
  2. Open chest CABG
  3. Myocardial Infarction (First heart attack of specific severity)
  4. Kidney failure requiring regular dialysis
  5. Major organ/Bone marrow transplant
  6. Benign brain tumor
  7. Stroke resulting in permanent symptoms
  8. Coma of specified severity
  9. End-stage liver failure
  10. End-stage lung failure
  11. Open heart replacement or repair of heart valve
  12. Loss of limbs
  13. Blindness
  14. Third-degree burns
  15. Major head trauma
  16. Permanent paralysis of limbs
  17. Primary (Idiopathic) Pulmonary Hypertension
  18. Loss of Speech
  19. Motor Neuron Disease with Permanent Symptoms
  20. Multiple Sclerosis with Persisting Symptoms
  21. Deafness
  22. Major Surgery of Aorta
  23. Cardiomyopathy
  24. Angioplasty
  25. Apallic Syndrome
  26. Brain Surgery
  27. Alzheimer’s Disease
  28. Muscular Dystrophy
  29. Parkinson’s Disease
  30. Poliomyelitis
  31. Loss of Independent Existence
  32. Medullary Cystic Disease
  33. Systemic Lupus Erythematosus
  34. 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:-

  1. 10X the annualized premium (excluding taxes and extra underwriting premiums)
  2. 105% of total premiums paid (excluding taxes and extra underwriting premiums)
  3. 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:-

  1. Ability to walk (at least a distance of 200 meters) on a flat ground
  2. Ability to bend or kneel
  3. Ability to climb stairs both up and down
  4. Ability to pick up an object (weighing at least 2 kg)
  5. Ability to write using a pen/pencil, desktop/personal computer keyboard
  6. 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:-

  1. Disability for a minimum of 180 days
  2. ATPD deemed permanent by the company empaneled medical practitioner
  3. The accident that causes ATPD must be by violent, external and visible means
  4. 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
  5. 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)

  1. Attempted suicide or self-inflicted injuries
  2. Any narcotic substance, drug or intoxicating liquor abuse
  3. 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
  4. Committing any breach of law
  5. War
  6. 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

  1. Self-inflicted injury or suicide
  2. War/invasion
  3. criminal activity with criminal intent
  4. Under the influence of drug, alcohol, or other narcotic substances
  5. Engaging in hunting, mountaineering, steeplechasing, racing, bungee jumping, river rafting, scuba diving, paragliding or such other adventurous sports or hobbies
  6. breach of law with criminal intent
  7. Aviation or aeronautics other than fare-paying, part-paying or non-paying passenger, in any aircraft
  8. Nuclear reaction, radiation or nuclear or chemical contamination

Under Critical Illness Benefit

  1. Pre-existing disease, ailment or injury up to 48 months from the date of the first policy issuance
  2. Any investigation or treatment for any illness, disorder, complication or ailment related to the pre-existing illness
  3. Consequences of pre-existing conditions
  4. Failure to seek or follow medical advice or treatment
  5. Self-inflicted injuries or suicide
  6. Insanity
  7. Immorality
  8. Participation in an illegal or criminal activity
  9. Abuse of intoxicating drugs, alcohol or any such solvent (unless prescribed by the doctor)
  10. Radioactive contamination due to nuclear accident
  11. War, civil commotion, breach of law with criminal intent, invasion, hostilities, rebellion, revolution, military/usurped power or wilful participation in acts of violence.
  12. 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.
  13. Aviation including parachuting, skydiving, gliding or any form of aerial flight other than as a fare-paying passenger
  14. Sexually Transmitted Disease (STD) and its related complications
  15. Acquired Immune Deficiency Syndrome (AIDS)
  16. Any Human Immuno-deficiency Virus (HIV)
  17. Isolated or benign kidney cysts
  18. Drug-induced or toxic causes of Parkinson’s disease
  19. Non-organic disease – neurosis and psychiatric illnesses
  20. Alcohol-related brain damage
  21. Any other type of irreversible organic disorder/dementia
  22. Diagnostic angiography or investigation procedures without angioplasty/stent insertion
  23. Cardiomyopathy if related to alcohol or drug abuse
  24. Spinal cord injury
  25. Liver failure secondary due to drug or alcohol abuse
  26. Coma resulting from alcohol or drug abuse
  27. Cysts
  28. Granulomas
  29. Malformations in the arteries or veins of the brain
  30. Hematomas
  31. Abscesses
  32. Pituitary tumors
  33. Tumors of skull bones and
  34. Tumors of the spinal cord
  35. Transient ischemic attacks (TIA)
  36. Traumatic injury of the brain
  37. The vascular disease affects only the eye, optic nerve or vestibular functions.
  38. Other stem-cell transplants where only islets of Langerhans are transplanted
  39. Other acute Coronary Syndromes
  40. Any type of angina pectoris
  41. Rise in cardiac biomarkers or Troponin T or I if overt ischemic heart disease or any intra-arterial cardiac procedure is not present
  42. Angioplasty
  43. Any intra-arterial procedures
  44. 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.
  45. Non-melanoma skin carcinoma (unless there is evidence of metastases to lymph nodes or beyond)
  46. Malignant melanoma that doesn’t cause invasion beyond the epidermis
  47. All tumors of the prostate (unless histologically classified as having a Gleason score > 6 or having progressed to at least clinical TNM classification T2N0M0
  48. All Thyroid cancers histologically classified as T1N0M0 or below
  49. Chronic lymphocytic leukemia < RAI stage 3
  50. Non-invasive papillary cancer of the bladder histologically described as TaN0M0 or od a lesser classification
  51. All Gastro-Intestinal Stromal Tumors histologically classified as T1N0M0 (TNM Classification) or below and with mitotic count of <= 5/50 HPFs
  52. All tumors in the presence of HIV infection

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