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About Future Generali General Insurance Company Ltd.
Future Generali General Insurance Company is a Joint Venture between Future Group, a leading retail and financial services conglomerate in India, and Generali Group, a 190+ year old global insurance provider. Generali Group has a 74% stake in the Joint Venture. Future Generali was established in 2006 and headquartered in Mumbai, is one of the leading players in India’s General Insurance industry. Future Generali recorded a Gross Written Premium of Rs5002.8 Crores in FY24 vs Rs4626.8 Crores in FY23. Profit After Tax stood at Rs133.12 Crores in FY24 vs Rs106.3 Crores in FY23. Future Generali General Insurance Company issued 2.79 million Insurance Policies in FY24. The company offers a range of Insurance Policies such as Health Insurance, Motor Insurance, Fire Insurance, Project Insurance, Marine Insurance, Liability Insurance etc. The Company has a strong market presence with 166 branches across India and a strong network of Insurance Agents, Brokers and Bancassurance partnerships. Future Generali has firmly established its credentials as one of India’s top 10 private General Insurance Companies.
History of Future Generali General Insurance Company Ltd
Future Generali General Insurance Company was established in 2006 as a Joint venture between the Future Group and Generali Group with the goal of offering Retail, Commercial, and Rural Insurance Solutions to individuals and businesses.
Future Group is one of the most prominent players in the Indian Retail Industry. The Group has established popular retail chains like Central, Big Bazaar, FBB, Brand Factory, etc.
The Generali Group is a major global Insurance and Asset Management provider based in Italy, founded in 1831. It operates in over 50 countries, serving millions of customers with a wide range of insurance products and financial services.
Future Generali General Insurance Company Ltd: An Overview
Features | Value |
---|---|
Year Founded | 2006 |
Founder | Joint venture between Generali Group and Future Group |
Headquarters | Mumbai, India |
Offices in India | 166 branches |
Authorized Capital | Rs1400 Crores as of March 2024 |
Paid Up Capital | Rs1206.6 Crores as of March 2024 |
Awards Won (2023 - 2024) | Great Place to Work (October 2023-24) |
Gross Written Premium ? FY24 | Rs5,002 Crore |
Incurred Claim Ratio ? FY23 | 65.91% |
Network Hospitals | 6500 hospitals across India |
Network Garages | 9000 authorized garages across India |
Market Position in India | Among the top 10 Private General Insurance Companies |
Future Generali Business Insurance Plans
Future Generali General Insurance Company offers various Insurance Policies for Large Corporates, MSMEs and Startups including Marine Insurance Policy, Fire Insurance Policy, Commercial General Liability Insurance Policy, Group Health Insurance Policy, Workmen’s Compensation Insurance, Professional Indemnity Insurance Policy, Cyber Insurance Policy, etc.
This article explores different types of Business Insurances offered by Future Generali General Insurance Company.
Employee Benefit Insurance offered by Future Generali General Insurance Company Ltd
Future Generali Group Health Insurance Policy
Future Generali Group Health Insurance Policy reimburses the employees for the hospitalisation expenses incurred by the employees during the Policy Period. The Insurance Policy also provides coverage for Daycare Procedures, Pre and Post-Hospitalisation expenses.
Key Features of Future Generali Group Health Insurance Policy
- Comprehensive Coverage: Future Generali Group Health Insurance Policy provides comprehensive coverage for Hospitalization Expenses, Pre and Post-Hospitalization Expenses, Daycare Procedures, Ambulance Charges etc.
- Domiciliary Hospitalization: The Policy also covers Domiciliary Hospitalization, allowing employees to receive treatment at home if they are unable to go to the hospital.
- No Waiting Period for Pre-Existing Diseases: Another advantage of Future Generali Group Health Insurance Policy is that there is no Waiting Period for Pre-Existing diseases unlike Individual Policies which have a Waiting Period of 3-4 Years for Pre-Existing diseases
- Tax Benefits: The Premiums paid towards Group Health Insurance Policy are a tax-deductible expense for the employer, which makes the Policy effectively more affordable for the employers.
- Cashless Claims Settlement: Future Generali Group Health Insurance Policy provides cashless Claims Settlement at over 6500 Network Hospitals all over India.
Future Generali Group Personal Accident Insurance Policy
Future Generali Group Personal Accident Insurance Policy provides reimbursement to the Insured in case of Accidental Death or Disablement of the Policyholder.
Key Features of Future Generali Group Personal Accident Insurance Policy
- Accidental Death Benefit: If an employee dies due to an accident, Future Generali Group Personal Accident Policy pays a lumpsum amount to the Nominee of the Insured.
- Permanent (Total or Partial) Disability: If an employee suffers from an Accident that results in Permanent Total Disablement such as loss of two limbs or loss of sight in both eyes, Future Generali GPA Insurance Policy pays a lumpsum benefit to the employee.
- Temporary Total Disability: The Policy provides a weekly compensation for Temporary Total Disablement that prevents the Insured from working.
- Policy provides cover for hospitalisation expenses incurred because of an accident
- Add-Ons like Child Education Grant, Loss of Job, OPD Expenses etc. can be opted for to enhance coverage.
Future Generali Workmen’s Compensation Insurance Policy
Future Generali Employee Compensation Insurance Policy covers the legal liability of an employer to pay compensation to the employee or their family members in case of Accidental Death or Disablement of the employees in the course of their employment.
Key Features of Future Generali Workmen’s Compensation Insurance Policy
- Future Generali Workmen’s Compensation Insurance Policy provides coverage to employers against their legal liability to pay compensation to the employee in case they suffer from Accidental Death or Disablement in the course of employment.
- The Policy pays a Lumpsum benefit to the employee’s nominee in case of employee’s demise due to workplace accident or occupational hazard.
- The Policy pays Compensation to the employee for permanent total or partial disablement suffered by the employee during the course of employment in the form of percentage of monthly wages.
Fire Insurance Policies offered by Future Generali General Insurance Company Ltd
Future Generali Standard Fire and Special Perils Insurance Policy
Future Generali Standard Fire and Special Perils Insurance Policy offers comprehensive coverage against loss or damage to Insured Assets caused by Fire and Allied Perils. This policy is suitable for Factories and Commercial Establishments to cover their Building, Plants & Machinery, Inventory Stocks etc. against losses due to Perils like Fire. This Insurance Policy is applicable only for businesses where the Total Value at Risk across all Insurable Asset Classes at one location does exceeds Rs50 crores at the Policy commencement date.
Key Features of Future Generali Standard Fire and Special Perils Insurance Policy
- The Insurance Policy covers damage to Property because of Fire and Allied Perils.
- The Policy coverage can be extended to add covers like Earthquake, Storm Typhoon, Hurricane, Tornado, Flood, and Inundation (STFI Cover), Terrorism etc.
- Claim Settlement can be on Reinstatement Value or Market Value Basis.
- Premium calculated based on Nature of Industry, Prior Claims Experience, Fire Safety Devices installed etc.
Future Generali Bharat Sookshma Udyam Suraksha Policy
Future Generali Bharat Sookshma Udyam Suraksha Policy provides coverage against Loss or Damage to assets due to Fire and allied Perils for enterprises where the Total Value at Risk across all insurable Asset Classes at one location does not exceed Rs5 crores.
Key Features of Future Generali Bharat Sookshma Udyam Suraksha Insurance Policy
- The Policy provides coverage against Perils like Fire, Explosion, Lightning, Earthquake, Flood, Storm etc. up to Rs5 crore at a single location.
- The Insurance Policy has in-built covers like Debris Removal, Architect Fees, etc.
- The Policy is suitable for small businesses like shops, restaurants, small factories.
Future Generali Bharat Laghu Udyam Suraksha Policy
Future Generali Bharat Laghu Udyam Suraksha Policy provides coverage loss or damage to assets because of fire and other perils where the Total Value at Risk across all Insurable Asset Classes at one location does exceeds Rs5 crores does not exceed Rs5 crores but does not exceed Rs50 Crore at the Policy commencement date.
Key Features of Future Generali Bharat Laghu Udyam Suraksha Insurance Policy
- Future Generali Bharat Laghu Udyam Suraksha Policy Provides Insurance against Fire, Explosion, Lightning, Earthquake, Flood, Storm and other Perils.
- The Insurance Policy provides cover on Reinstatement Value Basis for Building, Plant, Machinery and other Fixed Assets etc.
- Option to customize coverage with add-ons like Terrorism, Loss of Rent etc.
- Availability of Floater cover and Declaration Policy for greater flexibility.
- Future Generali Bharat Laghu Udyam Suraksha Insurance Policy provides Waiver of Underinsurance of upto 15%
Future Generali Bharat Griha Raksha Policy
Future Generali Bharat Griha Raksha Policy policy provides comprehensive coverage for the home building and its contents from any damage or loss by caused perils such as Fires, Thefts, Natural Disasters, riots, strikes, deliberate vandalism, act of terrorism and robbery.
Key Features of Future Generali Bharat Griha Raksha Insurance Policy
- The Building Cover under Future Generali Bharat Griha Raksha Insurance Policy covers loss or damage to the building structure due to Insured Perils. The Sum Insured for building is calculated based on area and current cost of construction.
- Home Content covers the Physical Loss, Damage, or Destruction of the general contents of your home caused by Insured Perils
- Policyholder can opt for multi-year policy with a duration of upto 10 years
- Underinsurance does not apply to the Future Generali Bharat Griha Raksha Policy.
- Option to customise coverage with various add-on Covers such as Removal of Debris, Arhitect’s and Engineer’s Fees
Liability Insurance Policies offered by Future Generali General Insurance Company Ltd
Future Generali Public Liability Insurance Policy
Future Generali Public Liability Insurance Policy provides coverage to the Insured against the legal liability arising due to Third Party Bodily Injury or Property Damage caused to third parties within the Insured’s Business Premises or resulting from the conduct of the Insured’s Business Operations. This Policy provides coverage for Defence Costs and Compensatory Damages.
Key Features of Future Generali Public Liability Insurance Policy
- The Policy covers Legal Liability arising from the Insured’s business operations that result in Third-Party Bodily Injury or Property Damage.
- Future Generali Public Liability Insurance Policy provides coverage to both, industrial and non-industrial businesses like shops, hotels, schools, offices, factories etc.
- The Policy offers add-on covers Act of Gods Peril Extension, Technical Collaborators’ Liability Extension and Food & Beverages extension to extend the Policy Coverage
- Claims due to Wars, Willful Misconduct, Fines & Penalties etc. are excluded.
Future Generali Commercial General Liability Insurance Policy
Future Generali Commercial General Liability Insurance Policy provides coverage against the Legal Liability of the Insured arising due to Third-Party Bodily Injury or Property Damage caused by the Insured’s Business Operations, Products or Injuries that occur within the Insured’s Business Premises. The Insurance Policy provides coverage for Defence Costs and Compensatory Damages.
Key Features of Future Generali General Liability Insurance Policy
- Future Generali CGL Policy offers Worldwide Territory and Jurisdiction Coverage for businesses with global operations
- Add-on covers like Care, Custody and Control of third party’s personal property, Vicarious Liability Extension, Terrorism Liability, Loss etc. to enhance Policy Coverage
- Option to add Additional Insured to the Policy
- Extended Reporting Period of 90 Days is provided under the Future Generali Commercial General Liability Insurance Policy
- Policy can be issued as a Claims Made Policy or Occurrence Based Policy
- Future Generali CGL Policy has a Duty to Defend Form
- Premiums vary based on business risk factors such as nature of operations, turnover, location, past claims history etc.
- The Policy is useful for business in industries such as manufacturing, processing, medical devices, pharmaceuticals, engineering etc.
Future Generali Errors and Omissions Insurance Policy
Future Generali Errors and Omissions Insurance Policy provides coverage for Wrongful Acts resulting in financial losses suffered by a Third Party resulting from failure of the Insured’s product to perform the function or to serve the purpose intended or failure to provide service in accordance with terms and conditions of a contract. Service Oriented Businesses like Networking and Information Technology Companies, Technology Consultants, and Media Companies ideally should purchase an Errors & Omissions Insurance Policy.
Key Features of Future Generali Errors and Omissions Insurance Policy
- Future Generali E&O Insurance Policy covers the legal liability of the Insured arising from errors, negligence or omissions.
- The Insurance Policy provides coverage for Defence Costs and Compensatory Damages
- Future Generali E&O Policy provides coverage for Claims resulting from all incidents that occur after the Retroactive Date
- Policy provides add-on covers for Mitigation Costs, Outstanding Fees, Delayed Delivery due to Professional Errors and Omissions and PR Expenses incurred by the Insured.
- Policy is issued as a Claims Made Policy
Future Generali Product Liability Insurance Policy
Future Generali Product Liability Insurance Policy reimburses the Insured for the Defence Costs and Compensatory Damages that the Insured becomes legally liable to pay because of Bodily Injury or Property Damage caused a Third Party because of using the Insured’s Products.
Key Features of Future Generali Product Liability Insurance Policy
- Future Generali Product Liability Insurance Policy is a must-have Insurance Policy for all Product manufacturers, sellers, distributors to secure themselves against lawsuits arising due to defects in products sold.
- The Product Liability Insurance Policy provides Worldwide Territory and Jurisdiction Coverage
- The Policy provides coverage for claims resulting from all incidents that occur after the Retroactive Date.
- Add-On Covers available to cover Legal Liability of named Technical Collaborators and Liability to Vendors
- Product Liability Insurance Policy is issued on a Duty to Defend Form
Marine Insurance Policies offered by Future Generali General Insurance Company
Future Generali Specific Voyage Marine Insurance Policy
Future Generali Specific Marine Insurance Policy provides comprehensive coverage for a specific voyage. The Policy covers Goods in Transit by Road, Rail, Air or Waterways within India and for exports and imports. It is suitable for businesses which do not ship goods frequently.
Key Features of Future Generali Specific Voyage Marine Insurance Policy
- Future Generali Specific Voyage Marine Insurance Policy provides coverage against loss or damage to the Insured Cargo against perils such as collision, sinking, fire, jettison etc.
- Loss or Damage to Cargo due to wear and tear, inherent vice of cargo, war, insolvency of ship owners is excluded under the Policy
- Premium charged depends on several factors like duration of the voyage, mode of transport, type and value of cargo etc.
Future Generali Marine Open Policy
Future Generali Marine Open Policy offers insurance coverage for all cargo shipments taking place within the Policy Period under a single Insurance Policy. A Single Policy insures a single leg of transit, i.e. Exports, Imports, Domestic Sales, Purchases etc. The Insured just needs to submit a monthly declaration of all the transits that took place in the previous month under a Marine Open Policy. The Insurance Policy eliminates the need to insure each transit separately. A Marine Open policy is ideal for businesses with frequent cargo shipments, providing protection against loss or damage during transit.
Key Features of Future Generali Marine Open Policy
- A Marine Open Policy provides annual coverage to all shipments throughout the year; There is no need to issue a separate Insurance Policy for each and every transit.
- The Insured has to make a monthly declaration of all transits taking place under the Insurance Policy
- The Policy provides coverage for Perils like Sinking, Collision, Fire, Lightning, Earthquake etc.
- Marine Certificates can be issued under the Marine Open Policy for Individual Transits
- The Sum Insured under the Marine Open Policy can be enhanced during the duration of the Policy
- Premium charged depends on cargo value, nature of cargo, transit routes, type of conveyance used.
Future Generali Marine Sales Turnover Policy
Future Generali Marine Sales Turnover Policy covers all the transits, such as Export Sales, Domestic Sales, Imports, Local Purchases, Inter-Factory Movements, Job Worker Movements, Capital Equipment and Container Movements under a Single Policy. The Insured does not need to make declarations of transit as it is done in a Marine Open Policy, rather he has to just declare the Sales Turnover Figures on a Periodic Basis under the STOP Policy.
Key Features of Future Generali Marine Sales Turnover Policy
- All Risk Coverage provided as per Institute Cargo Clauses
- Sum Insured under the Sales Turnover Policy is determined on the Insured’s estimated sales for the current year.
- Covers perils like Fire, Collision, Sinking, Earthquake, Theft during transit
- Add-On Cover available for Wars, Strikes etc.
- No need for individual declarations per shipment
Engineering Insurance Policies offered by Future Generali General Insurance Company
Future Generali Contractors All Risk Insurance Policy (CAR Insurance)
Future Generali Contractors All Risk Insurance Policy provides comprehensive coverage for damage caused by accidents to civil projects during the construction phase. The Policy provides coverage for Perils such as Fire, Lightning, Riots, Strikes, Theft, Burglary etc.
Key Features of Future Generali Contractors All Risk Insurance Policy
- The Insurance Policy is suitable for a wide range of construction projects like buildings, roads, bridges, power plants etc
- Material Damage Section: The Material Damage Section of the CAR Insurance Policy covers Physical Damage to the Property under construction, protecting against Perils such as Fire, Lightning, Theft, and Burglary.
- Third-Party Liability Section: The Third-Party Liability Section of the Future Generali Contractors All Risk Insurance Policy provides coverage for the Legal Liability of the contractor for Bodily Injury or Property Damage caused to third parties because of work conducted on the site.
- The Policy commences from the arrival of the first consignment at site and ends on successful commissioning of the project or expiry of the policy period, whichever is earlier
- The Policy can be extended to include the interest of Principal, Contractors and Subcontractors.
- Add-On Covers available to provide coverage for Act of God Perils (AOG Perils) such as Earthquake, Storms, Tempest, Floods, Inundation, etc.
- Future Generali Contractors All Risk Insurance Policy helps contractors and project owners manage the financial risks associated with construction projects.
Future Generali Erection All Risk Insurance Policy (EAR Insurance Policy)
Future Generali Erection All Risk Insurance Policy provides Insurance against risks associated with the during the erection, commissioning and testing stage of plants, machinery, and structures.
Key Features of Future Generali Erection All Risk Insurance Policy
- The EAR Insurance Policy covers sudden and unforeseen physical loss or damage to machinery and equipment while being erected, assembled, tested and commissioned at the project site.
- The coverage is on an ‘All Risks’ basis including perils like fire, flood, theft, machinery breakdown, accidents during erection work etc.
- The Material Damage Section of the Policy offers coverage on an ‘All Risks’ basis and provides cover for loss or damage to project materials against various perils such as Fire, Lightning, Theft and Burglary, Insulation Failures, Short Circuit, Explosions Storm, Floods, Earthquakes etc.
- The Third-Party Liability Section offers coverage for Bodily Injury or Property Damage caused to Third Parties by the erection work.
- The Policy Period starts from arrival of first consignment at the project site and terminates on completion of erection/testing/commissioning or the plant is taken over, whichever occurs first and the maintenance period thereafter.
- Add-on covers available like Surrounding Property, Debris Removal, Third Party Liability, Escalation Costs, Air Freight, Extended Maintenance etc.
- Major exclusions are war, nuclear risks, normal wear and tear, design faults, willful negligence etc.
- The Policy is suitable for erection of industrial projects, power plants, refineries, factories, infrastructure construction etc.
Health Insurance Products offered by Future Generali General Insurance Company
Future Generali Health Total Insurance Policy – Premiere Plan
Future Generali Health Total is a comprehensive Health Insurance Policy that provides coverage for Hospitalization Expenses due to illness or injury. The Policy also provides coverage for Daycare Procedures, Pre and Post-Hospitalization Expenses.
Key Features of Future Generali Health Total Insurance Policy – Premiere Plan
- Future Generali Health Total Insurance Policy – Premiere Plan offers Sum Insured Options of Rs50 Lakhs to Rs1 Crore
- A Family can opt for Family Floater Policy to cover Spouse and Dependent Children
- No Room Rent Capping in the Policy
- Co-Payment of 20% for Entry Age of 60-64 years, 25% for Entry Age of 65-69 Years, 30% for Entry Age of 70-74 Years and 40% for Entry Age of 75-79 Years
- Maternity Coverage of Rs50,000 for Normal Delivery and Rs1 Lakh for Caesarian Delivery
- Cumulative Bonus of 50% Base Sum Insured up to a maximum of 100% of the Base Sum Insured for each Claim-Free Year under the Policy. If a Claim is made under the Health Insurance Policy during any Policy Year, the Cumulative Bonus will be reduced by 50% of the Sum Insured.
- Restoration Benefit of upto 100% of the Base Sum Insured provided for Unrelated Illnesses during the Policy Year. The Restore Sum Insured is enforceable only after Sum Insured and the Cumulative Bonus have been completely exhausted in that Policy Year.
- Pre and Post-Hospitalisation Expenses coverage for 60 days - 180 days respectively
- Future Generali Health Total Insurance Policy provides coverage for Global Treatment for 8 listed Illnesses provided that a written notice is given 15 days in advance to the Insurance Company.
- Future Generali Health Total – Premiere Plan provides OPD Coverage of Rs10,000 and Rs20000 for Individual and Family Floater Policy respectively, for consultation, diagnostic tests and medications prescribed by the Medical Practitioner.
- Waiting Period of 24 and 36 Months for Specific Diseases
- Waiting Period of 24 months for Pre-Existing Diseases. From the 3rd year onwards, the Insurance Company’s liability will be upto 50% of the Sum Insured for Pre-Existing Diseases and 100% of the Sum Insured from the 4th Year Onwards.
- Waiting Period of 36 Months for Global Cover
- Waiting Period of 36 Months for Self and 48 Months for Spouse for Maternity Coverage
- The Premiums paid for the Policy are eligible for Section 80D Deduction under the Income Tax Act, 1961
- Lifetime Renewal
Future Generali Health Vital Insurance Policy
Future Generali Health Vital Insurance Policy is an affordable Health Insurance Plan for individuals and families, ensuring financial protection against unexpected medical expenses. The Health Policy provides comprehensive coverage against Hospitalisation expenses, including Pre and Post-Hospitalisation Expenses, Daycare Procedures etc.
Key Features of Future Generali Health Vital Insurance Policy
- Future Generali Health Vital Insurance offers various Sum Insured Options from Rs5 Lakhs to Rs15 Lakhs
- A Family can opt for Family Floater Policy to cover Spouse and Dependent Children
- Room Rent Limit of Rs10,000 per day for Normal Room and Rs15,000 per day for ICU Rooms for Sum Insured of Rs10 Lakhs and Rs15 Lakhs
- Pre and Post-Hospitalisation Expenses coverage for 30 days.
- Cumulative Bonus of 10% Base Sum Insured up to a maximum of 100% of the Base Sum Insured under the current Policy Year. If a Claim is made under the Health Insurance Policy during any Policy Year, the cumulative bonus benefit will reduce by 10%.
- Policy has Disease Wise Sublimits for various diseases.
- Maternity Coverage of Rs50,000 for Normal Delivery and Rs60,000 Lakh for Caesarian Delivery for a Sum Insured of Rs15 Lakhs
- The Insurance Policy has a Sublimit of 50% of the Policy Sum Insured for Modern Treatment Methods
- Waiting Period of 24/36 months for Specific Diseases
- Waiting Period of 36 months for Pre-Existing Diseases
- Waiting Period of 36 months for Maternity Coverage
- The Premiums are applicable for Section 80D Deduction under the Income Tax Act, 1961
- Lifetime Renewal
Future Generali Health Elite Insurance Policy
Future Generali Health Elite is a premium Health Insurance Plan tailored for high-net-worth individuals. It offers comprehensive coverage and exclusive benefits beyond standard Health Insurance Plans.
Key Features of Future Generali Health Elite Insurance Policy
- Future Generali Health Elite Policy offers various Sum Insured Options from Rs75 Lakhs to Rs6 Crores
- Pre and Post-Hospitalisation Expenses coverage for 60 days - 180 days respectively
- The Insurance Policy provides coverage for Medical treatment availed outside India for 20 listed Critical Illnesses upto the Sum Insured provided that the diagnosis was made in India and is certified by a Medical Practitioner. The claim under this section is subject to a Co-Payment of 20%. There is also an option to Waive the Co-payment by paying additional premium. The Claim Settlement can be done either on a Cashless Basis or Reimbursement basis.
- Future Generali Health Elite Policy also provides coverage for Emergency Medical Treatments taken abroad provided that the Insured is already outside India at the time of the illness/injury and the Emergency/Life Threatening medical condition requires immediate care to stabilize the Insured`s medical condition before any further travel is possible. The same has to be certified by a Medical Practitioner. The claim under this section is subject to a Co-Payment of 20%. There is also an option to Waive the Co-payment by paying additional premium. The Claim Settlement can be done either on a Cashless Basis or Reimbursement basis.
- Future Generali Health Elite Plan provides OPD Coverage of Rs50,000 per Policy for consultation, diagnostic tests and medications prescribed by the Medical Practitioner upto 80% of the admissible bill amount. In addition, the Policy also covers Medical Expenses incurred by the Insured for Dental Treatment upto 70% of admissible bill amounts and expenses incurred on Physiotherapists upto 80% of the admissible bill amount.
- Maternity Coverage of Rs1 Lakh for Normal Delivery and Rs2 Lakh for Caesarian Delivery. The Policy also provides coverage for Pre and Post-Natal Expenses under Maternity Cover.
- Restoration Benefit of upto 100% of the Base Sum Insured provided for Unrelated Illnesses during the Policy Year. The Restore Sum Insured is enforceable only after Sum Insured and the Cumulative Bonus have been completely exhausted in that Policy Year.
- Cumulative Bonus of 10% Base Sum Insured for each Claim Free Year up to a maximum of 100% of the Base Sum Insured under the Policy. If a Claim is made under the Health Insurance Policy during any Policy Year, the cumulative bonus benefit will be reduced at the same rate at which it has accrued.
- Waiting Period of 24 months for Specific Diseases
- Waiting Period of 24/36 months for Pre-Existing Diseases
- Waiting Period of 24 Months if both Self and Spouse are covered under the Policy and 36 Months if only you are covered under the Policy for Maternity Benefits.
- The Premiums are applicable for Section 80D Deduction under the Income Tax Act, 1961
- Lifetime Renewal
Future Generali Arogya Sanjeevani Policy
Future Generali Arogya Sanjeevani Policy provides comprehensive coverage for medical expenses arising from Hospitalization, Pre and Post-Hospitalisation Expenses, Daycare Procedures etc. The Policy is a standard Health Insurance Plan with very affordable premiums.
Key Features of Future Generali Arogya Sanjeevani Insurance Policy
- Sum insured options ranging from Rs. 50,000 to Rs. 10,00,000.
- The Policy has a minimum entry age of 18 years and maximum entry age of 65 years.
- Pre and Post-Hospitalisation Expenses Coverage for 30 days and 60 Days
- Room Rent Limit of 2% of Sum Insured subject to a maximum of Rs5000 per day for Normal Rooms and 5% of Sum Insured subject to a maximum of Rs10,000 per day for ICU Rooms
- Cumulative Bonus of 5% per year for every claim-free year, provided that the Insurance Policy is renewed without a break every year, subject to a maximum of 50% of Sum Insured. In case of a Claim, the Cumulative Bonus is reduced at the same rate.
- Cataract Sub-Limit of upto Rs. 40,000 per eye or 25% of Sum Insured whichever is lower
- Co-Payment of 5% on each and every Claim
- Waiting Period of 36 months for Pre-Existing Diseases
- Waiting Period of 24 and 36 months for Specific Diseases
- The Premiums paid for the Health Insurance Policy are eligible for Section 80D Deductions under the Income Tax Act, 1961
- Lifelong Renewal
Future Generali Health Powher Policy – Supreme Plan
The Future Generali Health PowHer Policy is a specialized Health Insurance Plan designed to address the unique health needs of women across all ages. It provides comprehensive coverage for various women-specific health issues and offers several exclusive benefits.
Key Features of Future Generali Health Powher Insurance Policy – Supreme Plan
- Future Generali Health Powher Policy – Supreme Plan offers various Sum Insured Options from Rs25 Lakhs to Rs1 Crore
- Minimum Entry age of 18 Years and Maximum Entry Age of 65 years
- No Room Rent Limit
- Pre and Post-Hospitalisation Expenses coverage for 60 days - 90 days respectively
- Restoration Benefit upto 100% of the Policy Sum Insured provided for Related and Unrelated Illnesses provided during the Policy Year even if the Sum Insured is partially or totally exhausted.
- Cumulative Bonus of 10% Base Sum Insured up to a maximum of 50% of the Base Sum Insured under the current Policy Year. If a Claim is made under the Health Insurance Policy during any Policy Year, the cumulative bonus benefit will be reduced at the same rate at which it has accrued.
- The Policy covers Modern Treatment Methods upto the Sum Insured
- The Supreme Plan provides Maternity Coverage of upto Rs1.25 lakhs for Normal Delivery and Rs2 lakhs for Cesarean Delivery. Pre and Post-Natal Expenses are also covered 45 days before admission and discharge from the hospital
- Future Generali PowHer Policy also covers the New-Born Baby from Day 1 within the Policy Sum Insured while New-Born Defects are covered upto a Sum Insured of Rs1 lakh.
- Future Generali PowHer Policy also provides Infertility Treatment Cover upto Rs3 lakhs. This cover is applicable only once during the lifetime of the Policy.
- The Future Generali PowHer Insurance Policy – Supreme Plan also provides a Cancer Cover where the Policy Sum Insured is increased by upto 200% for Female Cancers and 100% for Other Cancers. This cover is applicable only once during the lifetime of the Policy.
- Future Generali PowHer Policy – Supreme Plan provides OPD Coverage of Rs5,000 and Rs15,000 for Puberty and Menopause Disorders for each Policy Year.
- Waiting Period of 24 months for Specific Diseases
- Waiting Period of 24 months for Pre-Existing Diseases
- Waiting Period of 24 months for Infertility Treatment Expenses
- Waiting Period of 24 months for Maternity Coverage
- Waiting Period of 12 months for Cancer Cover
- The Premiums are applicable for Section 80D Deduction under the Income Tax Act, 1961
- Lifetime Renewal
Future Generali Advantage Super Top-Up Health Insurance Policy
Future Generali Advantage Super Top-Up Health Insurance Policy is a Super Top-Up Health Insurance Plan which provides Health Insurance Coverage over and above an existing base Health Insurance Plan at affordable premiums.
Key Features of Future Generali Advantage Top-Up Health Insurance Policy
- Sum Insured options range from Rs50,000 to Rs1 Crore with Deductible options ranging from Rs50,000 to Rs40 lakhs.
- Pre and Post-Hospitalisation Expenses coverage for 60 days - 90 days respectively
- Cumulative Bonus of 10% Base Sum Insured up to a maximum of 50% of the Base Sum Insured under the current Policy Year. If a Claim is made under the Health Insurance Policy during any Policy Year, the Cumulative Bonus benefit will be reduced at the same rate at which it has accrued
- Waiting Period of 24 months for Specific Diseases
- Waiting Period of 24 months for Pre-Existing Diseases
- Premiums paid for the policy are eligible for tax deduction under Section 80D of the Income Tax Act.
- Lifelong Renewal
Future Generali Varishta Bima Health Insurance Policy
Future Generali Varishta Bima Health Insurance Policy is a Senior Citizen Health Insurance Policy with an entry age of 60 years. The Policy provides cover for Hospitalization Expenses, Day Care Procedures, Pre and Post-Hospitalization Expenses, Ambulance Charges etc.
Key Features of Future Generali Varishta Bima Health Insurance Policy
- Future Generali Varishta Bima Health Insurance Policy provides coverage for Hospitalisation Expenses, Pre and Post-Hospitalisation Expenses above the Deductible Amount
- Sum Insured Options of Rs2 Lakhs to Rs10 Lakhs
- Pre and Post-Hospitalisation Expenses coverage for 60 days - 90 days respectively with Sub-Limits.
- Waiting Period of 12 months for Pre-Existing Diseases
- Waiting Period of 24 months for Specific Diseases
- Co-Payment of 50% on each and every claim related to Pre-Existing Diseases and 25% Co-Payment on every other Claim.
- Sub-Limits applicable on listed procedures. Modern Treatment Methods have a Sub-Limit of 50% of the Policy Sum Insured
- Premiums paid for the Policy are eligible for tax deduction under Section 80D of the Income Tax Act.
- Lifelong Renewal
Future Generali Criti Care Health Insurance Policy
Future Generali Criti Care Policy is a Critical Illness Insurance Policy which provides comprehensive coverage against various critical illnesses and related expenses. The Policy pays a lumpsum amount on diagnosis of covered critical illness during policy period.
Key Features of Future Generali Criticare Health Insurance Policy
- Future Criticare Policy pays a Lumpsum Amount on the diagnosis of any of the listed critical illnesses after 90 days of Policy Commencement and Survival Period of 28 Days
- Survival Period of 28 days.
- Sum Insured options available from 1 Lakh to 50 Lakhs
- Policy can be issued on an Individual or a Family Floater Basis
- Premiums paid are eligible for tax deductions under Section 80D of Income Tax Act
- Lifelong Renewal
What is the Health Insurance Claim Settlement Process with the Future Generali General Insurance Company?
The steps to file an Health Insurance Claim with Future Generali General Insurance Company Limited are listed below:
Intimate Claim
You need to intimate Future Generali about the claim by either:
- Go to the Future Generali General Insurance Website, Click on Claims, select the relevant Insurance Policy and register a claim by providing details like Insured Information, date of incident etc.
- The Insurance Company will provide a Claim Intimation number upon successful registration of the Claim
Future Generali Health Insurance Claim Settlement Process – Cashless Claim Settlement
To avail Cashless Claim Settlement under the Future Generali General Health Insurance Policy, the Policyholder must follow the steps listed below:
- Locate the nearest network hospital covered by the Future Generali Health Insurance Policy to avail treatment
- Inform the Insurance Company about the hospitalization before 3-4 days in case of a planned hospitalization and within 4-5 hours in case of an emergency
- Show the Health Card issued by the Insurance Company to the Insurance desk at the hospital
- Fill the Pre-Authorization Claim Form provided by the hospital
- The Hospital sends the Pre-Authorization Claim Form to Future Generali General Insurance Company for Claim Settlement
- The Insurance Company will inspect the details and inform the Insured about the approval or rejection of the Claim
- Once the Claim gets approved, the hospital sends the expenses and receipts to the Insurer and the hospital gets reimbursed for the treatment expenses directly by Future Generali General Insurance Company.
The advantage of cashless claim settlement is that the Policyholder does not need pay any amount from his own pocket.
Future Generali Health Insurance Claim Settlement Process – Reimbursement Claim Settlement
If the Policyholder chooses a non-network hospital, he will have to opt for Reimbursement Claim Settlement. The Reimbursement Claim Settlement is listed below:
- Inform Future Generali General Insurance Company within 24 hours of admission to the hospital. The Company will provide the Policyholder with a Claim Intimation Number after the claim is raised so that the Claim Status can be tracked.
- Make the payment to the hospital for the medical expenses incurred and keep original copies of all the Invoices.
- Submit the required documents to Future Generali General Insurance Company
- The Insurance Company will verify the Claim Details, ask for additional documents if required and will approve or reject the Claim.
- The approved Claim Amount gets credited directly to the Bank Account of the Insured
What are the documents Required for a Reimbursement Claim under a Health Insurance Policy?
The Insured needs to submit the following documents to Future Generali General Insurance Company to avail Reimbursement Claim Settlement under the Policy:
- ID Proof, Policy Health Card and Address Proof
- Duly Filled and Signed Claim Form
- Pathology Reports
- Medicine Prescriptions and Pharmacy Bills
- Pre and Post-Hospitalisation Bills
- Hospital Bills
- Discharge Summary
Motor Insurance Products offered by Future Generali General Insurance Company
Future Generali Motor Insurance Policy
Future Generali Motor Insurance Policy provides coverage to vehicle owners against loss or damage to vehicles because of Accidents, Theft, Fire, etc. in addition to the mandatory Third-Party Liability. The Car Insurance Policy offers comprehensive coverage against Own Damage as well as Third Party Liability
Key Features of Future Generali Motor Insurance Policy
- The Own Damage Cover protects the Insured Vehicle against Loss or Damage due to Accidents, Theft, Natural Calamity etc
- The Third-Party Liability Extension covers legal liability of the vehicle owner for third party Bodily Injury or Property Damage.
- Various Add-On Covers are available like Zero Depreciation, Engine Protector, Return to Invoice, Roadside Assistance, Consumable Expenses Cover etc.
- Cashless Claim Settlement across an extensive network of 6,500+ garages across India
- No Claim Bonus of upto 50%
Future Generali Two-Wheeler Insurance Policy
Future Generali Two-Wheeler Insurance Policy provides Insurance Coverage for loss or Damage to the Insured Two Wheelers like Motorcycles and Scooters because of Accidents, Natural Calamities etc. as well as Third-Party Liabilities for Bodily Injury or Property Damage.
Key Features of Future Generali Two-Wheeler Insurance Policy
- Add-ons like Zero Depreciation, Roadside Assistance etc. available
- Cashless repairs at 6500+ network garages pan-India
- No Claim Bonus of upto 50%
What is the Claim Settlement Process under the Future Generali Motor Insurance Policy?
A Policyholder can avail a Claim Settlement under the Future Generali Motor Insurance Policy in 2 ways:
- Cashless Claim Settlement
- Reimbursement Claim Settlement
Future Generali General Motor Insurance Claim Process – Cashless Claim Settlement
In order to avail Cashless Claim Settlement under the Future Generali Motor Insurance Policy, the Policyholder must follow the steps listed below:
- Locate the nearest network garage covered by the Future Generali Motor Insurance Policy on https://general.futuregenerali.in/ and bring the damaged car/bike to the same for repairs
- Inform Future Generali General Insurance Company about the accident and damage to the vehicle by providing the necessary details such as Policy Number, Date, Time and Description of Accident
- The Insurance Company will send a surveyor to the Garage to inspect the extent of damage post which the approval to begin repairs is given.
- Once the approval is received, the Garage can commence repairs.
- The Insured needs to fill the claim form and provide the related documents as mentioned in the form.
- Once the vehicle is ready, the Insured needs to pay his share of the Claim consisting of Deductible, Depreciation etc. to the garage and drive off. The balance would be settled by Future Generali General Insurance Company directly with the network garage
Future Generali Motor Insurance Claim Process – Reimbursement Claim Settlement
If the Policyholder chooses a non-network Garage, he will have to opt for Reimbursement Claim Settlement. The Reimbursement Claim Settlement for Motor Insurance is listed below:
- Inform Future Generali General Insurance Company of the Accident on the Mobile App or Website
- The Company will send a surveyor to assess the extent of damage
- The Insured needs to submit the Duly Filled and Signed Claim Form along with the necessary documents as mentioned in the form
- The Insurance Claim is processed on receipt of documents and the Claim Amount will be credited to the bank account of the Policyholder
Travel Insurance Products offered by Future Generali General Insurance Company
Future Generali International Travel Insurance Policy – Platinum Plan
Future Generali’s International Travel Insurance Policy, known as Future Travel Suraksha, provides comprehensive coverage for Medical Expenses, Trip Cancellation due to specified reasons, Lost or Delayed Baggage, Passport Loss, Personal Liability, Hijack Cover et
Key Features of Future Generali International Travel Insurance Policy – Platinum Plan
- Comprehensive medical coverage: Future Generali Travel Insurance Policy covers medical expenses incurred due to an accident, injury or sickness whilst on a trip. This includes inpatient hospital charges, ambulance services and prescription drugs.
- Medical Evacuation: The Insurance Policy provides cover for emergency medical evacuation and repatriation of mortal remains back to India.
- Repatriation of Remains: The Policy also provides coverage for Repatriation of Mortal Remains to India in case of the death of the Insured Person with a Sublimit of USD10,000.
- Trip Cancellation: Future Generali Travel Insurance Policy pays compensation if the Trip is cancelled due to Death or Diagnosis of Critical Illness of the Insured or Insured’s Immediate Family Member. The Policy also pays for Trip Cancellation if the booked common carrier outside India is delayed for at least 24 hours due to Strike, Industrial Action, Riot, Civil Commotion, Severe Weather Condition, Natural Disaster, hijack or mechanical breakdown of public common carrier.
- Trip Curtailment: The Policy also pays for any loss of travel or accommodation expenses paid in advance or forfeited by the Insured after the commencement of the trip if the Trip is curtailed due to Death or Diagnosis of Critical Illness of the Insured or Insured’s Immediate Family Member or if the booked common carrier outside India is delayed for at least 24 hours due to Strike, Industrial Action, Riot, Civil Commotion, Severe Weather Condition, Natural Disaster, hijack or mechanical breakdown of public common carrier. The Policy also pays for the non-refundable unused portion of travel or accommodation expenses.
- Delayed Flights: Future Generali Travel Insurance Policy compensates the Insured upto the Sublimit if the flight is delayed by more than 12 hours due to Bad Weather or Strike by employees of the Common Carrier.
- Missed Connection: Future Generali Travel Insurance Policy also compensates the Insured upto the Sublimit if the departure flight is cancelled or delayed because of inclement weather beyond 12 hours than the original scheduled arrival time resulting in the Insured missing his connecting flight.
- Lost Passport & documents: The Policy also pays reasonable expenses to get a duplicate passoprt if the Insured’s Passport is misplaced or stolen.
- Baggage Loss: The Travel Policy compensates the Insured upto the Limit of Indemnity for lost belongings if the checked-in baggage gets permanently lost or destroyed by the common carrier.
- Baggage Delay: The Travel Insurance Policy compensates the Insured upto the Limit of Indemnity for emergency purchase of toiletries, medication and clothing to replace items contained in Checked Baggage, if the Checked in Baggage is delayed or misdirected by a common carrier by more than 12 hours beyond the time of the Insured’s arrival at the intended destination outside India.
How to Purchase Future Generali General Insurance Policy?
Here are the steps to purchase a Future Generali General Insurance Policy:
Online Process to purchase Future Generali Insurance Policy
- Go to Future Generali General Insurance Website, select the relevant Insurance Policy such as Motor Insurance, Health Insurance etc.
- Click on the “Get a Quote” button to start the Online Purchase Process.
- Fill in the online form providing your basic details, nominee information, preferences for add-on covers etc.
- The Insurance Premium will be calculated and displayed. Review the premium and coverage details.
- Make the premium payment online using Net Banking, UPI, Debit/Credit Card, Wallet etc.
- The Policy Document will be emailed to your registered email id immediately.
Offline Process to purchase Future Generali Insurance Policy
If you prefer to purchase a Policy offline, go to the nearest company branch or the Insurance Broker, where their experts will guide you through the entire process. An Insurance Broker will assist you with quote comparisons, negotiations and claims as well.
How to Renew Future Generali General Insurance Policy?
Here are the steps to renew a Future Generali General Insurance Policy:
Online Process to Renew Future Generali Insurance Policy
- Go to Future Generali General Insurance Website, Click on Renew, select the relevant Insurance Policy such as Motor Insurance, Health Insurance etc.
- Enter the Expiring Insurance Policy Number to start the Renewal Process.
- Enter the relevant details. The Insurance Premium will be calculated and displayed. Review the premium and coverage details.
- Make the premium payment online using Net Banking, UPI, Debit/Credit Card, Wallet etc.
- The Policy Document will be emailed to your registered email id immediately.
Offline Process to Renew Future Generali Insurance Policy
If you prefer to Renew a Policy offline, go to the nearest company branch or the Insurance Broker, where their experts will guide you through the entire Renewal process.
Purchase Future Generali General Insurance Company Policies with Qian!
Qian is a licensed Insurance Broker with Future Generali General Insurance Company. We can assist you with all Insurance Policies as well as Claim Settlement Process with Future Generali General Insurance Company. Get a Quote for Future Generali General Insurance Company’s Insurance Policy with Qian at insurance@qian.co.in or call us on 022-35134695. We would be glad to assist you.
Testimonials
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Hemik of Qian is knowledgable, prompt and very professional - highly recommended. I had to claim for a critical illness under my health insurance policy and Qian’s assistance with the claims process and advice on how to deal with the insurer was invaluable.