Future Generali India Life Insurance launches Cancer Protect

Posted by: at 10/20/2016 02:32:00 am

·         A simple and affordable cancer protection plan for all stages.


Bangalore, 20 October 2016: Future Generali India Life Insurance Company Limited (FGILI), a joint venture between Future Group - the leading retailer of India and Assicurazioni Generali - a global insurance group and one of the world’s 50 largest companies, today announced the launch of Future Generali Cancer Protect, a comprehensive and easy to buy insurance plan that provides complete financial security for all stages of cancer (minor or major). This is an extremely affordable plan which covers the customer up to 80 years of age and covers minor lives too.

KEY FEATURES

Future Generali India Life Insurance launches Cancer Protect


CONVENIENT
  • Can be bought anytime, anywhere.
  • No medical examination required.
  • Simple product structure with minimum exclusions (no restriction based on annual income, occupation or smoking habits).
  • Only one simple online form to be filled with e-KYC integration.
WHO CAN BUY
  • Anyone in the family between the age group of 18-65 years can buy the policy including Smokers/Non-Smokers, homemakers and parents for their minor children (except individuals already suffering from cancer or those who have suffered from it in the past).  
FLEXIBILITY
  • Unique from other critical illness policies where you have the option of choosing your protection plan:
OPTION 1: Lump Sum Cover where you receive 100% of the sum assured on diagnosis for a major stage cancer, while for a minor stage, you receive 25% of the sum assured and your premiums are waived off for the next three years or till the end of the policy term whichever is earlier.

OPTION 2: Lump Sum Cover with Income Benefit where apart from the fixed payouts, you also receive 2% of your sum assured per month for a period of 60 months on diagnosis of a major stage cancer.
COVERS ALL STAGES
  • Minor Stage – Carcinoma in Situ (CiS) of all organs such as lung, stomach, breast, liver among others (except skin and prostate).
The customer can make multiple claims under unrelated minor stage cancer conditions.
·         Major Stage – Blood Cancer, Lymphatic Cancer, Bone Sarcoma among others.

OTHER DETAILS

Entry Age (as on last birthday)
For Minor lives: 1 year to 17 years
For Adults: 18 years to 65 years
Premium Payment Frequency & Policy Term
Regular Premium
Single Premium
·          For Minor lives ( 1 year to 17 years) : 18 minus age at entry or 10 years, whichever is higher
·         For Adults (18 years to 65 years) : 10 years, 15 years, 20 years or 80 years minus age at entry.
However, Maximum coverage age is 80 years
·         5 years
Sum Assured
Rs. 10 lakhs, Rs. 20 lakhs, Rs. 30 lakhs and Rs. 40 lakhs
Premium Payment Mode
Two options - Regular premium (Annual or Monthly modes) OR Single Premium
The plan is available for sale across all distribution channels and online through the web portal.

On the occassion of the launch, Mr. Munish Sharda, Managing Director & CEO, Future Generali Life Insurance said, “Cancer incidences are on a rise in India, and with over 200 different kinds of cancer, this disease can be debilitating for the family emotionally as well as financially. Medical advancements today have improved the survival rate tremendously; however, cost of medical expenses to fight Cancer continues to be a huge burden on the family’s finances. The Future Generali Cancer Protect Plan takes complexity out of buying the product and aims to help our customers secure themselves and their families financially through a simple process, with no medical examinations at a highly affordable cost. Thus ensuring that their personal savings and linked dreams don’t get impacted. This is in line with our efforts of providing straightforward and transparent products that deliver value to our customers.”

For more information, please visit https://life.futuregenerali.in/products

GENERALI GROUP

The Generali Group is one of the largest global insurance providers with 2014 total premium income exceeding €70 billion. With 78,000 employees worldwide serving 72 million insured persons in more than 60 countries, the Group occupies a leadership position on West European markets and an increasingly important place on markets in Central Eastern Europe and Asia. In Asia, the Group operates in 10 markets: China, Hong Kong, India, Indonesia, Japan, Malaysia, Philippines, Singapore, Thailand and Vietnam. Generali ranked among the world’s 50 smartest companies in 2015 according to the MIT Technology Review and is the only insurer to be part of this ranking.

Future Group

Future Group operates some of India’s most popular retail chains including Central, Big Bazaar, Food Bazaar, Home Town and eZone. Apart from its allied businesses in Life and General insurance, the Group is also present in the domain of logistics infrastructure and supply chain and brand development. The group operates over 17 million square feet of retail space in over 90 cities and towns and 60 rural locations across India. The group’s retail formats connect over 300 million customers to over 30,000 small, medium and large enterprises that supply products and services to its retail chains. Future Group believes in developing strong insights on Indian consumers and building businesses based on Indian ideas, as espoused in the group’s core value of ‘Indianness.’ The group’s corporate credo is, ‘Rewrite rules, Retain values’.


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