Future Generali Life Insurance Reviews, Ratings, Best Plans and USPs
Future Generali Life Insurance
Future Generali India Life Insurance Company is one of the most prominent insurance companies in India. With over 1.2 crores lives covered since its inception and more than ₹4,347.5 crores worth of assets under management, it is inarguably one of the leading life insurance companies in India. It is a joint venture between the Future Group, Generali group, and Industrial Investment Trust Limited (IITL).
The Future Group is one of the highly established corporate groups with multiple customer-centric businesses leading in various industries like retail, consumer finance, capital, insurance, media, brands, and logistics. It owns and operates various popular retail formats like Pantaloons, Big Bazaar, Central, Food Bazaar, and Home Town.
The Generali Group is a globally leading player in the BFSI market. With its main focus on offering life insurance products, the Generali Group is known all over the world for its wide range of products spanning from savings and family protection insurance policies to unit-linked insurance policies.
Industrial Investment Trust Limited (IITL) is an investment firm registered as an NBFC institution with the Reserve Bank of India (RBI). IITL holds a 22.50% stake in the equity of Future Generali India Life Insurance Company Ltd.
Future Generali Life Insurance operates in 136 locations with a strong presence in all the major cities of India which allows it to target a large audience in the need of life insurance. The company is also known for its beneficent individual claims settlement ratio of a whopping 95.28% for the fiscal year 2019-2020. Future Generali Life Insurance offers easy-to-understand products with easily accessible customer service which offers an easy and friendly time to its clients when seeking assistance.
About Future Generali Life Insurance
Future Generali Life Insurance Company offers a wide range of benefits to its customers through customer-centric insurance products. Their insurance product focuses on a wide array of customer segments and caters to their distinct needs by bringing new and innovative insurance products to the market. It also ensures premium customer service by bridging support and help closer to its clients.
Here are some of the benefits of buying life insurance from Future Generali Life Insurance Company that consumers find most compelling:
Customer-Centric Approach
Future Generali has been able to establish itself as one of the most reliable and customer-oriented insurance companies in India because of its customer-centric approach. It has taken various measures to offer desirable insurance products and services to its customers. Their in-house claim team has developed a lightning-fast and easy claim settlement procedure which wastes no time to materialize customers’ legitimate claims.
Reliable Products
With around 95.28% of individual claims settled in the financial year 2019-2020, Future Generali offers its clients a promise of reliability and trust.
Extensive Product Portfolio
The product portfolio of Future Generali provides prospective and existing customers a wide range of plans to choose from. They have a wide product portfolio that targets almost every segment of Indian customers with varying needs and requirements.
Wide Presence
Future Generali operates at 136 locations with a dominant presence in major cities across India which allows it to form a close connection with clients. This brings them closer to their clients and offers higher accessibility. Every need and requirement of the customer can be addressed by visiting their nearest location.
Flexible Policies
One of the most compelling benefits of buying Future Generali Life Insurance Plans is the flexible and reasonable terms for their policies. The premium payment mode and frequency are flexible and convenient for the customer. Their assorted plans also provide clients with room for customizability and flexibility to be tailored to their needs and requirements.
Credibility and Authenticity
Being one of the most prominent insurance providers in India, customers find Future Generali Life Insurance plans safe, secure, and trustworthy. Customers have a sense of security for the funds they invest with the company.
Unmatchable Accessibility
Future Generali provides round-the-clock services and assistance which offer unmatchable accessibility to its customers. You can seek assistance by appearing at one of their locations in person or make a call and have your problem addressed. Their online portal is also known to be very effective in addressing customers’ issues and challenges.
With their customer-centric approach and high standards of asset security and management, Future Generali Life Insurance Company has provided satisfying customer journeys to over 1.2 crores customers since inceptions. Here are some of the customer reviews that show the level of service Future Generali provides at a ground level:
Outstanding Customer Service Ashish Ranjan
The customer personnel that I was connected to was very understanding and pleasant to talk to. He carefully listened to my issue and gave me the perfect solution for it. The whole experience didn’t feel like it was on a call. It was as if I visited one of their locations.
A Policy for Me Neha Sahu
I have always preferred building wealth through investments and having emergency funds rather than paying up endlessly for insurance premiums. With the Future Generali ULIP plans, I also got an insurance cover and my investments were also taken care of, exactly how I wanted them to be. They’ve got the perfect insurance policy for me.
Best Product Features Amrinder Singh
I really like the product features of Future Generali Insurance Plans. They have this all-inclusive approach with all their products. The best part is that provide cancer cover to smokers as well!
One of the primary reasons for the wide-reaching popularity of Future Generali Life Insurance Company is its all-inclusive approach towards customers’ needs. It offers a handful of policies each of which is perfect for a specific segment of the Indian consumer with distinct insurance needs. Furthermore, it also keeps introducing new plans while the old ones exist to expand its reach and including every segment of consumers.
The types of life insurance products offered by Future Generali Life Insurance Company include term plans, ULIP plans, retirement and pension plans, investment plans, and child plans.
Future Generali Term Plans
Future Generali Term insurance Plans are the most basic and affordable life insurance products that the company offers. They act as a wall of financial security for a family if the breadwinner of the family is unable to take care of them because of an unfortunate event like a disability or their demise. They secure the financial future of your family members in case of death, disability, or accidental death at a very affordable premium.
|
Insurance Plan |
Entry Age |
Maturity Age |
Sum Assured |
Policy Term |
Premium Mode |
|
Future Generali Care Plus Plan |
18 years to 65 years |
23 years to 85 years |
Minimum Sum Assured: Rs. 10 Lakh for Classic Option Rs. 25 Lakh for Premier Option Maximum Sum Assured: No Limit |
5 years to 67 years |
Yearly, Half-Yearly, Quarterly, and Monthly |
|
Future Generali Flexi Online Term Plan |
Basic Life Cover: 18 years to 55 years Income Protection: 25 years to 55 years |
Basic Life Cover: 28 years to 75 years Income Protection: 45 years to 65 years |
Basic Life Cover: Rs. 50 Lakh to any maximum Income Protection: Depends on age |
Basic Life Cover: 10 years to 75 years - Entry Age Income Protection: 10 years to 65 years- Entry Age |
Yearly and Monthly |
Future Generali ULIP Plans
Future Generali Life Insurance Company’s unit-linked insurance plans offer the added benefit of market-linked returns apart from providing a life cover. Their ULIP plans offer various fund options for different risk appetites and are designed to offer wealth-building solutions while also providing life cover. If your risk appetite is lower balanced funds that invest in debt besides equity or income funds that primarily invest in gilt or money market investments are more suitable for you. On the other hand, if your risk appetite is larger, you can go with the aggressive ones that are primarily focused on equity.
|
Insurance Plan |
Entry Age |
Maturity Age |
Sum Assured |
Policy Term |
Premium Mode |
|
Future Generali Pramukh Nivesh ULIP |
7 years to 70 years |
18 years to 75 years |
Depends on age and premium amount. |
5 years to 20 years |
Single Premium Only |
|
Future Generali Wealth Protect Plan |
7 years to 60 years |
22 years to 75 years |
Depends on age and premium amount. |
15 years to 40 years |
Yearly, Half-Yearly, Quarterly, and Monthly |
|
Future Generali Bima Advantage Plus |
7 years to 65 years |
18 years to 75 years |
Depends on age and premium amount. |
10 years to 30 years |
Yearly, Half-Yearly, Quarterly, and Monthly |
|
Future Generali Dhan Vridhi |
8 to 50 years for PPT of 5 years 8 to 60 years for other PPTs |
18 to 70 years |
Depends on age and premium amount. |
10/15 /20 years |
Yearly, Half-Yearly, Quarterly, and Monthly |
|
Future Generali Bima Gain |
8 years to 65 years |
18 years to 75 years |
Depends on age and premium amount. |
10 years |
Single Premium Plan |
Future Generali Savings Plans
Savings and Investment Plans from Future Generali are arguably one of the most comprehensive types of insurance policies in terms of benefits. These plans provide you savings along with a life cover with additional protection in the form of riders. These are perfect for customers who are looking for insurance plans that focus equally on savings and protection.
|
Insurance Plan |
Entry Age |
Maturity Age |
Sum Assured |
Policy Term |
Premium Mode |
|
Future Generali Assure Plus |
3 years to 55 years |
18 years to 70 years |
Minimum Sum Assured: Rs. 1 Lakh Maximum Sum Assured: Rs. 5 Crore |
15/20/25 years |
Yearly, Half-Yearly, Quarterly, and Monthly |
|
Future Generali Triple Anand Advantage |
7 years to 50 years |
27 years to 75 years |
Minimum Sum Assured: Rs. 2 Lakh Maximum Sum Assured: No Limit |
20 years or 25 years |
Yearly, Half-Yearly, and Monthly |
|
Future Generali New Saral Anand |
3 years to 50 years |
18 years to 70 years |
Minimum Sum Assured: Rs. 1 Lakh Maximum Sum Assured: No Limit |
15 years to 20 years |
Yearly |
|
Future Generali Pearls Guarantee |
7 years to 55 years |
23 years to 73 years |
Depends on age and policy term. |
16 years or 18 years |
Yearly, Half-Yearly, Quarterly, and Monthly |
|
Future Generali Assured Income Plan |
7 years to 50 years for 11 years policy term 5 years to 50 years for 15 years policy term |
18 years to 65 years |
Depends on age, premium amount, etc. |
11 years or 15 years |
Yearly and Monthly |
|
Future Generali Saral Bima |
7 years to 50 years |
18 years to 70 years |
Minimum Sum Assured: Rs. 1 Lakh Maximum Sum Assured: Rs. 5 Crores |
10 years to 20 years |
Yearly, Half-Yearly, Quarterly, and Monthly |
|
Future Generali Assured Money Back Plan |
18 years to 55 years |
- |
Minimum Sum Assured: Rs. 58,215 Maximum Sum Assured: No Upper Limit |
Option A: 15/17/20/22 years Option B: 10/12/15/17 years |
Yearly, Half-Yearly, Quarterly, and Monthly |
Future Generali Child Plans
There’s no alternative for a strong educational background when it comes to the growth of your child. Future Generali Life Insurance offers Child Plans which gives you financial back-up for your child’s education. These policies offer the best possible platform for your child to achieve their dreams and meet their financial needs even after you.
|
Insurance Plan |
Entry Age |
Maturity Age |
Sum Assured |
Policy Term |
Premium Mode |
|
Future Generali Assured Education Plan |
Age of the Parent: 21 years to 50 years Age of the Child: Up to 10 years |
35 years to 67 years |
Based on the age of the child and the premium amount. |
17 years minus age of the child at the time of purchase |
Yearly or Monthly |
Future Generali Retirement and Pension Plans
The Future Generali retirement and pension plans offer double-fold benefits to customers. It allows the insured to build a retirement fund for themselves while also getting an insurance cover. Future Generali’s reliable and secure pension plans will help you lead a relaxed, convenient, and financially secure retirement life.
|
Insurance Plan |
Entry Age |
Maturity Age |
Sum Assured |
Policy Term |
Premium Mode |
|
Future Generali Immediate Annuity Plan |
40 years to 80 years |
- |
As per age, term premium, etc. |
Till the Policyholder/Annuitant is Alive |
Regular, Limited, and Single |
|
Future Generali Pension Guarantee |
20 years to 70 years |
- |
As per age, term premium, etc. |
10 to 20 years |
Yearly, Half-Yearly, and Monthly |
Best Policies By Future Generali Life Insurance
We have listed some of the best insurance policies by Future Generali Life Insurance Company. Take a look at their features to get an idea about the outstanding product features and customer experience Future Generali Life Insurance offers:
|
Insurance Plan |
Overview |
USPs |
Minimum Premium |
Benefits |
|
Future Generali Flexi Online Term Plan |
With customization at its core values, the Flexi Online Term Plan allows individuals to create their own plan. They can either get a Fixed Income Protection + Basic Life Cover plan from Future Generali Life Insurance or an Increasing Income Protection + Basic Life Cover policy. |
In the case of fixed income protection, the nominees receive a fixed income per month until the time when the insured would have been 60 years old. The increasing income protection provides an added layer of financial security to the nominees. Under the increasing income protection, the nominees also receive an increased sum of money over a period which protects them from any rise in costs. |
Rs 12000 Yearly |
Income Protection, Tax Benefits, Free-look Period, Longer Protection (75 years), and Revival Period. |
|
Future Generali Assure Plus |
The Future Generali Assure Plus is a multiple-term option savings-cum-insurance plan which offers multiple terms of 15, 20, and 25 years. |
It gives customers the flexibility to choose any combination of Policy Term and Premium Payment Term based on their financial goals. Customers can also enhance their Maturity Payout through bonuses. They can also choose between 2 Death Benefit Payout Options. |
Rs 12000 Yearly |
Death Benefit, Tax Benefits, and Maturity Benefit. |
|
Future Generali Dhan Vridhi |
The Future Generali Dhan Vridhi ULIP offers a limited premium payment term insurance cover with a policy term of 10, 15, and 20 years. The premium payment period spans from 5 years to 17 years depending on the tenure. |
For people, less than 45 years of age, whichever amount is higher between ten times the annual premium and half of the policy term multiplied by annual premium is the maximum sum insured. For people above 45 years, whichever amount is higher between seven times the annual premium and quarter of policy term multiplied by annual premium is the maximum sum insured. |
Rs. 20000 Yearly |
Death Benefit, Maturity Benefit, Surrender Benefit, and Tax Benefit. |
|
Future Generali Assured Education Plan |
The Future Generali Assured Education plan allows parents to plan their child’s education. They can create the much-needed financial backup by ensuring guaranteed payouts according to their child's education milestones. |
The USP of this plan is that it is tailor-made for parents who are looking for tax saving and a good child education plan that enables them to save systematically until their child turns 17. It also takes care of the child’s education and financial needs in case of the parent’s demise. |
Rs. 20,000 Yearly or Rs. 2,000 Monthly |
Maturity Benefit (Guaranteed Payouts), Death Benefit, and Tax Benefit. |
Future Generali Life Insurance Company Review & Ratings
Future Generali Life Insurance Company offers some of the best insurance plans for every type of customer out there with distinct insurance needs. Their vast product portfolio and excellent customer service is the reason for their unshakeable market share. The company is also aiming to grow with a rate of 15-20%over the next three years after witnessing a growth of 13%.
The lightning-fast and easy claim settlement procedure show their customer-centric approach towards their products and services. Rather than sticking to traditional insurance products and catering to a limited section of customers, Future Generali believes in fulfilling the varying needs and requirements of different segments of customers by coming up with new solutions. Future Generali is also very particular about its investment philosophy. With the focus on safety, liquidity, and sustainable returns, Future Generali is managing over ₹4,347.5 crores worth of assets.
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Future Generali FAQs
1. What is the free-look policy for a Future Generali Life Insurance Policy?
Many Future Generali Insurance Plans offer you a free-look period which is in essence a trial period. It allows you to cancel your purchase of an insurance policy in case you aren’t satisfied with the terms and conditions of the policy period.
2. What is the difference between ULIP plans and Savings plans?
Future Generali savings plans are focused on meeting your needs related to savings as well as protection. On the other hand, ULIP plans give you the advantage of market-linked returns apart from savings and protection and help you meet your medium and long-term financial goals.
3. How do Future Generali Child Plans help secure the future of your child?
The Future Generali Child Education Plans help you save systematically until your child turns 17 years so that you don’t get burdened with the sudden pressure of their college/graduation fees. With systematic guaranteed payouts, you receive the money depending on your child's education milestones, exactly when it is needed. They also make sure that your child's education is secured even in case of an unfortunate event in your life.
