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Future Generali Life Child Plans
Future Generali Life Insurance Company offers one type of child insurance plan called the Future Generali Assured Education Plan. The plan promises multiple benefits and comes loaded with great features. Let us take a look at the plan in detail and its features and benefits.
Reason for buying a child plan
The reason of buying a child plan is not limited to only one. One can cite various reasons why a child insurance plan becomes a part and parcel of every individuals financial planning process. Creating a fund for retirement or for taking a long vacation or building a long-term asset may seem important but if you have a child then planning for the childs future is also important. Your child will need financial resources to achieve his dream, for pursuing higher education in a premier institute, for marriage, etc. With the current trend of inflation, a few lakhs of rupees which is sufficient for today will not be sufficient for your childs future. Lakhs of rupees will be required for securing admission in a premier college or for pursuing higher studies. Even marriage would require a good sum of money so that your daughter or your son can have the marriage of their dreams. As an average man, your savings of today would go a long way in building this substantial corpus. A child plan comes in the picture because of the benefit the plan promises. Apart from the usual death or maturity benefit which is available in other different plans of insurance, a child plan has something which the other plans fail to offer. The inbuilt premium waiver rider which shifts the burden of paying the premium on the companys head if the parent who is the policyholder and the life insured faces untimely death. By paying twice the benefit in case of death the child plan ensures that no financial repercussion affects the childs life anyhow even in the absence of the caring parent. Moreover, the rider which is inbuilt in the plan also ensures a steady growth of the corpus which was planned by the parent. So, whether the parent is alive or dead, the child plan runs its course, completes its goals and provides a substantial amount of money to the child which can be used as per his requirement.
What are Child Plans?
Child plans are uniquely designed plans meant for the future of the child by ensuring a considerable fund even after the death of the parent. The plans have certain distinct characteristics which are explained below: The plan can cover either the minor child or the parent with the parent being the insured in most of the cases If the child is covered, the company inserts a deferment clause in the policy which excludes coverage in the initial years because the infant is considered to be a more risky life. death during this deferred period will entail the return of premiums as the Sum Assured will not be active during this period The child will also gain ownership of the policy after attaining 18 years of age which was previously in the name of his parent The premium waiver rider is automatically inherent in the plan which waives future premiums after the death of the parent while at the same time protecting the funds which are paid as and when originally promised under the plan
Future Generali Life Child Plans- FAQs
1. How to pay premium? What are the modes of payment available? Future Generali India Insurance offers three ways to the clients for paying the premium Auto Debit Cash/cheque deposit at Branch Online payment Pay by Phone 2. How can I check policy status for Future Generali Life child plans? You can check the policy details from the website of the company with your valid username and password. 3. What is the policy renewal process for Future Generali Life child plans? You can renew the policy by login to e-Portal with policy details. Select the payment option (Debi/credit card or by Net Banking) to pay. Finally, print/save the e-receipt. 4. What is the companys process to settle claim for Future Generali Life child plans? The company settles the claims within 7 days, provided the documents and the claims form is correct. You will have to apply for the claim at the company through email. 5. What is the policy cancellation process for Future Generali Life child plans? Simply walk into the nearest branch office with your policy documents and duly filled surrender form. It would take 5 business days to process the cancellation request and deposit the refund premium. An intimation letter on cancelled policy will be posted your registered address. With Rs 60.29 cr in Revenues, Future Generali Net Worth increases by 50% in FY 15 New MD, CEO of Future Generali – Munish Sharda Future Generali Personal Accident
Have you used this product?
1. How to pay premium? What are the modes of payment available? Future Generali India Insurance offers three ways to the clients for paying the premium Auto Debit Cash/cheque deposit at Branch Online payment Pay by Phone 2. How can I check policy status for Future Generali Life child plans? You can check the policy details from the website of the company with your valid username and password. 3. What is the policy renewal process for Future Generali Life child plans? You can renew the policy by login to e-Portal with policy details. Select the payment option (Debi/credit card or by Net Banking) to pay. Finally, print/save the e-receipt. 4. What is the companys process to settle claim for Future Generali Life child plans? The company settles the claims within 7 days, provided the documents and the claims form is correct. You will have to apply for the claim at the company through email. 5. What is the policy cancellation process for Future Generali Life child plans? Simply walk into the nearest branch office with your policy documents and duly filled surrender form. It would take 5 business days to process the cancellation request and deposit the refund premium. An intimation letter on cancelled policy will be posted your registered address. With Rs 60.29 cr in Revenues, Future Generali Net Worth increases by 50% in FY 15 New MD, CEO of Future Generali – Munish Sharda Future Generali Personal Accident