X
Trending search
TRENDING products
- Home
- Insurance Plans
- Group Insurance Plans
- Group Term Life Insurance Plan
Future Generali Group Term Life Insurance Plan
- About
Designed for groups that want to provide affordable life insurance coverage to their members
- Death Benefits
Sum Assured
- Member’s Age at Entry
18 to 79 years
- Policy Term
1 year (renewable)
- Minimum Sum Assured Per Member
For social groups with 5000 members or above –
10,000/- per member.
For other groups – 10,000/-. - Riders
Yes
- Minimum Group Size
10
- Tax Benefit
Yes
WHY BUY GROUP TERM PLAN?
- You can provide life insurance cover to all your members under a single plan.
- Sum Assured is paid on the death of a member covered under the plan.
- You can add and delete members on a monthly basis.
- It is a tool for providing employee incentive and improving employee retention.
HOW DOES GROUP TERM PLAN WORKS?
The term insurance plan is ideal for employers or groups that wish to monetarily secure the families of their employees or members. Here are the steps to get the Future Generali Group Term Life Insurance plan:
Step1Decide the amount of cover
- Choose the amount of term insurance cover you want for each of your members.
Step2Choose the benefit option (basic term cover)
Decide the benefit option or basic term cover from these:
- Flat Coverage (outstanding loan, size of bank deposit, etc.)
- Graded Coverage (based on employee grades in corporate/ company)
- Salary Multiple (based on multiple of salary)
- Others - (outstanding loan/ liability amount/ size of bank deposit, etc.)
Step3Get a premium quote
The premium for the group insurance coverage is calculated by GCLI and can be paid in Yearly/ Half-Yearly/ Quarterly/ Monthly terms.
Step4Pay the premium
- You can pay the premium and start the cover.
;
Key Benefits of GROUP TERM PLAN
- Death Benefit In the event of an employee’s or a member’s death during the group insurance Policy Term, the Sum Assured under the policy is payable to the designated beneficiary.
- Maturity Benefit There are no Maturity Benefit under this group insurance plan.
- Surrender Benefit There are no Surrender Benefit under this group insurance plan.
Target Group
For employer who want to provide term life term insurance cover to their employees
Eligibility
| Member’s Age at Entry | Premium Per Group / Scheme | Minimum Sum Assured | Member’s Minimum Age at Maturity | Member’s Maximum Age at Maturity | Policy Term | Minimum Size of the Group |
| 18 to 79 years | Minimum: 2,500/- Maximum: No Limit |
Rural and Social Group if Number of Members is 5,000 or more: 10,000/- (Per Member) Other Groups 10,000/- (Per Member) |
19 years | 80 years | One Year | 10 Members Per Group |
Â
EXCLUSIONS
Suicide Exclusion: In case of death due to suicide within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as applicable, the nominee or beneficiary of the Insured member shall be entitled to at least 80% of the total premiums paid till the date of death, provided the policy is in force. This clause will not be applicable during renewal of cover.
Free Look Cancellation
For Master Policyholder:
In case you disagree with any of the terms and conditions of the policy/coverage, you can return the policy/Certificate of Insurance to the Company within 30 days of its receipt (whether received electronically or otherwise), for cancellation, stating your objections. We will refund the policy premium after the deduction of proportionate risk premium for the period of cover, stamp duty charges, cost of medical examination, if any.
For Insured Member:
On receipt of the Certificate of Insurance, the Insured Member may review the Terms and Conditions stated herein. In case the Insured Member is not satisfied with Terms and Conditions, he / she has an option to return the Certificate of Insurance to the Company within 30 days of its receipt (whether received electronically or otherwise), with a request for cancellation, stating reasons for the same. On such cancellation of the Certificate of Insurance, We will refund the premium after deducting a proportionate cost of insurance for the period covered , expenses incurred towards medical examinations, if any, and stamp duty.
Grievance Redressal Processes
In case you have any grievances on the solicitation process or on the Product sold or any of the Policy servicing matters, you may approach the Company in one of the following ways:
- (a) Calling the Customer helpline number 1800-102-2355 for assistance and guidance.
- (b) Email at care@generalicentral.com
- (c) You may also visit us at the nearest Branch Office. Branch locator - https://www.generalicentrallife.com/branch-locator/
- (d) Senior citizens may write to us at the following id: senior.citizens@generalicentral.com for priority assistance
- (e) You may write to us at: Customer Services Department Generali Central Insurance Company Limited, Unit 801 and 802, 8th floor, Tower C, Embassy 247 Park, L.B.S Marg, Vikhroli ( W ) Mumbai – 400083
We will provide a resolution at the earliest. For further details please access the link: https://www.generalicentrallife.com/customer-service/grievance-redressal-procedure
DISCLAIMERS
Future Generali Group Term Life Insurance Plan (UIN: 133N003V05)
Tax benefits are subject to change as per tax laws.
For detailed information on this plan including risk factors, exclusions, terms and conditions etc., please refer to the product brochure and consult your advisor, or, visit our website before concluding a sale. Tax benefits are as per the Income Tax Act 1961 and are subject to any amendment made there to from time to time.
Generali Group’s and Central Bank of India’s liability is restricted to the extent of their shareholding in Generali Central Life Insurance Company Limited. Generali Central Life Insurance Company Limited (Formerly known as ‘Future Generali India Life Insurance Company Limited’) (IRDAI Regn. No.: 133) (CIN: U66010MH2006PLC165288). Regd. Office & Corporate Office address: Unit 801 and 802, 8th floor, Tower C, Embassy 247 Park, L.B.S. Marg, Vikhroli (W), Mumbai - 400083 | Email: care@generalicentral.com | Call us at 1800 102 2355 | Website: https://www.generalicentrallife.com For further details please access the link: https://www.generalicentrallife.com/customer-service/grievance-redressal-procedure
This Product is not available for online sales.
Life Insurance Made Simple
-
Decoding Your Policy’s Fine Print
The fine print in a policy can come in the way of making an informed purchase. We’ve simplified the fine print into big print.
-
Ensure Your Claims Are Always Settled
Read the terms and conditions carefully. Ensure that your current health, occupation or lifestyle habits do not exclude you from getting the policy benefits.
-
Protecting Your Policy – Do’s & Don’ts
Do's and don’ts to protect your life insurance policy from unauthorised elements posing as company representatives.
-
Are You Financially Prepared For Your Future?
Find out how prepared you are to meet your financial goals, with our FutureReady calculator.
-
12 Questions to Ask Before You Buy
Buying a life insurance policy without asking your advisor the right questions is as good as crossing a road blindfolded.