Term Insurance 340 views February 12, 2021

Considering the uncertainties of life, it is important to have a life insurance plan that can protect your family even in your absence. Future Generali Care Plus Plan can ensure the same. This non-linked non-participating pure risk premium life insurance plan from Future Generali can let you effectively deal with uncertainties.

Want to know more about the Future Generali Care Plus Plan? On this page, we will discuss some of its important aspects such as key features, sum assured options, premium amount, rebate, eligibility criteria, etc. Do read to know more!

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Why should you Choose Future Generali Care Plus Plan?

What explains our confidence behind the Future Generali Care Plus Plan? You must be having this question in your mind! Well, the plan comes with exciting features that you can see below. Have a look!

  1. One of the best features of the Future Generali Care Plus Plan is that individuals can choose from two options according to the sum insured they want. These two options are Classic and Premier. With the classic option, individuals can choose a sum insured up to INR 24,99,999, while with the premier option, an individual can choose a sum insured of INR 25,00,000 or above.
  2. This term insurance plan from Future Generali can be a perfect option for you if you want to protect your family’s finances, in case you are not around, by paying an affordable premium amount.
  3. Policyholders who are employees of Future Group, their spouses and their blood relatives can enjoy a staff discount of 8% on the annual premium if they take the policy directly without any interference. Do remember that blood relatives only include children, parents and siblings of employees.
  4. With this Future Generali plan, policyholders can also choose an additional rider with which they can protect themselves and their families from any accidental-related disabilities or demise. This rider option is Future Generali Non-linked Accidental Death Rider.
  5. Future Generali Care Plus Plan also provides a free look period of 15 days/ 30 days within which a policyholder can return the policy and get a refund if he or she is not happy with its terms and conditions.
  6. If you fail to pay the due premium until the due date, this policy also provides a grace period of 30 days or 15 days (for monthly premiums) from the premium due date. Within this period, you can pay your premiums without impacting the policy benefits.
  7. With the Future Generali Care Plus Plan, individuals can also enjoy tax benefits on the premium paid towards the policy under Section 80C of the Income Tax Act, 1961.

Future Generali Care Plus Plan Death Benefits

You should know that the Future Generali Care Plus Plan does not provide any maturity or surrender benefits. However, if you die during the policy term, the company will pay a death benefit to the nominee. It can be the highest of the following amounts. Have a look!

  1. Sum assured amount
  2. 10 times the annualized premium amount excluding taxes, rider premiums, etc.
  3. 105% of the total premiums paid until the date of death

Let’s Discuss Policy Term and Premium Payment Term

For the Future Generali Care Plus Plan, the minimum policy term can be 5 years for both classic and premier options. However, the maximum policy term can be 85 years minus the minimum age at entry (18 years) stands at 67 years. Do remember that you need to pay the premium amount throughout the chosen policy term. Individuals can choose the policy term according to their needs.

Minimum and Maximum Sum Assured

The minimum and maximum sum assured will depend on the option you choose under the Future Generali Care Plus Plan. If you choose the classic option, the sum assured can be as low as INR 1,50,000, with a maximum of INR 24,99,999. Whereas the minimum sum assured will be INR 25,00,000 if you choose the premier option with no maximum limit.

Large Sum Assured Rebate that You Can Enjoy

Future Generali Care Plus Plan also provides a huge discount or rebate if an individual chooses a large sum insured. This discount will depend on the sum assured chosen by you. To know more, you can check the below table.

For Classic Option

Sum AssuredPer INR 1,000 Sum Assured
INR 6 lakh or above - less than INR 8 lakhINR 3.80
INR 8 lakh or above - less than INR 10 lakhINR 4.10
INR 10 lakh or above - less than INR 15 lakhINR 4.30
INR 15 lakh or above - less than INR 20 lakhINR 4.50
INR 20 lakh or above - less than INR 25 lakhINR 4.60

For Premier Option

Sum AssuredPer INR 1,000 Sum Assured
INR 25 lakh - less than INR 50 lakhNil
INR 50 lakh - INR 1 croreINR 0.10
1 crore or aboveINR 0.20

What will be the Minimum Premium Amount for the Future Generali Care Plus Plan?

You will need to pay a premium amount towards your policy, and it will depend on the entry age, policy term and the sum insured chosen. The minimum premium amount stands at INR 887 per annum in the classic option, while it can be as low as INR 5,000 per annum for the premier option. Individuals can also choose to pay the premium from different modes of annual, half-yearly, and monthly (through ECS only).

Future Generali Care Plus Plan Eligibility Criteria

There are some conditions that an individual needs to keep in mind before choosing a Future Generali Care Plus Plan. We are showing them below. Do check!

  1. The minimum entry age stands at 18 years for both classic and premier options. However, the maximum age at maturity can be as high as 65 years.
  2. An individual can be as old as 85 years at the time of maturity of the policy.

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