Future Generali vs Reliance Life
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Future Generali Life vs Reliance Life Insurance 2024

Future Generali and Reliance Life both are one of the top life insurance providers in India. Both the companies offer comprehensive life insurance plans offering life cover from 10 to 99 years of age. The product portfolio of both of them is vast and caters to unique needs of the customers. The claim settlement ratio of Future Generali is 96.15% whereas Reliance Life has 98.67% CSR for the FY 2022-23. The companies provide benefits such as high sum assured, flexible premiums, customizable coverage, rider benefits, options for premium payment terms, maturity benefits, online discounts, non-smoker discounts and various plan options to choose from.

PLAN DETAILS Edit Future Generali

Future Generali

Edit reliance-life

Reliance Life

Number of life insurance plans and add-ons
Entry Age (Min-Max) 18 - 60 years 18 - 60 years
Policy Term 10-75 years 5-40 years
maturity Age (Min-Max) 80 years 10-70 years
Claim settlement ratio (CSR) 96.15% 98.67%
Asset under managment (AUM) 6748 Crores 30000 Crores
Solvency ratio 1.7 2.3
Policy Type
  • Term insurance
  • Whole life policy
  • Endowment policy
  • ULIP
  • Money back policy
  • Retirement plans
  • Savings plans
  • Child plans
  • Group Insurance plan
  • Term insurance
  • Whole life policy
  • Endowment policy
  • ULIP
  • Money back policy
  • Retirement plans
  • Savings plans
  • Child plans
  • Group Insurance plan
Coverage Amount
  • Minimum- 50 Lakh
  • Maximum- No Limit
  • Minimum- 5 Lakh
  • Maximum- No Limit
Optional Additional Riders
  • Accidental death and disability rider
  • Accidental death and disability plus rider
  • Family income benefit rider
  • Accidental death benefit rider
  • Critical conditions rider
  • Accidental death and disability rider
  • Accidental death and disability plus rider
  • Family income benefit rider
  • Accidental death benefit rider
  • Critical conditions rider
Number of term plans 2 3
Exclusions Suicide or self inflicted Injury Suicide or self inflicted Injury
Death Benefit Yes Yes
Survival Benefit No Yes
Claims procedure Both (Online+offline) Both (Online+offline)
Type of the insurer Private Private
Online buying facility for life plans Yes Yes
Premium payment options Single/limited/Regular Single/limited/Regular
Online claim facility Yes Yes

Life Insurance Companies

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Future Generali Term Insurance Plans

Future Generali Care Plus

This term insurance plan offers two different options to choose from like life cover and life cover with an accidental death benefit.

Unique Features

  • Affordable premiums
  • 48 hours Claim Settlement
  • Discounts for women

Future Generali Care Plus (Pros)

  • Discount on Higher SA
  • Accidental Death Rider
  • Customizable Plan

Future Generali Care Plus (Cons)

  • No Maturity Benefit
  • No Surrender Benefit
  • No Policy Loan Allowed

Future Generali Care Plus (Other Benefits)

  • 2 Indicative Premium Rates
  • 1 Cr Sum Assured Plan
  • Suicide Cover After 1 Year

Future Generali Care Plus (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 85 Yrs
  • Premium Payment Term - 25 Yrs (RP)

Future Generali Saral Jeevan Bima

This policy will cover death due to accident only, during the waiting period of 45 days from the Date of Commencement of Risk.

Unique Features

  • Flexible premium payment terms
  • Death benefit
  • Tax Benefits

Saral Jeevan Bima (Pros)

  • Available For Online Buying
  • Max Sum Assured 25L
  • Choose To pay Premium Once

Saral Jeevan Bima (Cons)

  • No Survival Benefit
  • No Maturity Benefit
  • No Surrender Benefit

Saral Jeevan Bima (Other Benefits)

  • Suicide Cover
  • Spouse Cover
  • Policy Revival Within 5 Yrs

Saral Jeevan Bima (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 5 L
  • Maximum Maturity Age - 70 Yrs
  • Premium Payment Term - RP/SP/LP (5&10 Yrs)

Future Generali Express Term Life Plan

Comes with several variants like life cover option, extra life cover option, life plus health cover option, and all-in-one cover option.

Unique Features

  • 4 plan variants
  • Flexible premium payment
  • Death benefit

Express Term Life Plan (Pros)

  • 34 Critical Illnesses Covered
  • Terminal Illness Cover
  • Accidental Total and Permanent Disability

Express Term Life Plan (Cons)

  • No Rider Benefit
  • No Surrender Benefit
  • No Policy Loan Allowed

Express Term Life Plan (Other Benefits)

  • Discount For Women
  • Suicide Cover After 1 Year
  • Tax Benefits (Section 80C and 10(10D))

Express Term Life Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 85 Yrs
  • Premium Payment Term - 5 To 10 Yrs

Future Generali Flexi Online Term Plan

The plan offers life cover up to the age of 75 years and lower premium rates for women and non-smokers with 4 payout options.

Unique Features

  • Online Available Plan
  • Accidental Benefit Rider
  • 105 % Death Benefit

Flexi Online Term Plan (Pros)

  • Flexible Coverage Option
  • High Sum Assured Rebate
  • Maturity Benefit

Flexi Online Term Plan (Cons)

  • No Paid Up Value
  • No Surrender Benefit
  • No Policy Loan Allowed

Flexi Online Term Plan (Other Benefits)

  • Discount For Women
  • Suicide Cover After 1 Year
  • Tax Benefits (Section 80C and 10(10D))

Flexi Online Term Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 55 Years
  • Minimum Sum Assured - 50 L
  • Maximum Maturity Age - 75 Yrs
  • Premium Payment Term - Equal to Policy Term

Future Generali Jan Suraksha

Coverage in a single premium payment (at low costs). It helps the family of the life assured to deal with the liabilities in case of his/her unfortunate death.

Unique Features

  • Safeguards against loans
  • One-time premium
  • Tax Benefit

Jan Suraksha (Pros)

  • Death Benefit: 5 times the SP
  • Surrender Benefit
  • Affordable Premium

Jan Suraksha (Cons)

  • No Policy Discount
  • No Rider Benefit
  • No Policy Loan Allowed

Jan Suraksha (Other Benefits)

  • Plan For Lower Income Group
  • Easy Claim Settlement
  • Suicide Cover After 1 Year

Jan Suraksha (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 50 Years
  • Minimum Sum Assured - NA
  • Maximum Maturity Age - 8 Yrs
  • Premium Payment Term - SP

Reliance Term Insurance Plans

Reliance Nippon Life Protection Plus

The plan provides a lump sum benefit payout upon death with a 5% annual increment and a maximum cap of 100% of the chosen Base Sum Assured.

Unique Features

  • Level Cover Plan Option
  • Top-up Benefit Option
  • Option to Reduce Base SA

Protection Plus (Pros)

  • Customizable Protection
  • Enhanced Coverage Benefit
  • Cheaper Premiums for Healthier Lifestyles

Protection Plus (Cons)

  • No Maturity Benefit
  • No Policy Loan
  • Surrender Value Only Applicable For Whole Life Cover

Protection Plus (Other Benefits)

  • Level Cover Plus Income Option
  • Whole of Life Cover Plan Option
  • 4 Plan Options

Protection Plus (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 60 years
  • Minimum Sum Assured - 25 L
  • Premium Payment Term - RP
  • Maximum Maturity Age - Adaptable

Reliance Nippon Life Saral Jeevan Bima

Reliance Life Saral Jeevan Bima is a standard term plan that looks after your family's financial needs by paying a lump sum after your demise.

Unique Features

  • Future Proofing Benefit
  • 100 % Death Benefit
  • Max Sum Assured 25 Lakh

Saral Jeevan Bima (Pros)

  • Available For Online Buying
  • Spouse Cover
  • Max Sum Assured 25 Lakh

Saral Jeevan Bima (Cons)

  • No Survival Benefit
  • No Maturity Benefit
  • No Surrender Benefit

Saral Jeevan Bima (Other Benefits)

  • Easy Claim Settlement Processn
  • Avail Tax Benefits
  • Flexible-Premium Payment term

Saral Jeevan Bima (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 65 years
  • Minimum Sum Assured-5 L
  • Maximum Maturity Age- NA
  • Premium Payment Term-RP/SP/LP(5&10 Years)

Reliance Nippon Life Surakha

The plan offers a return of 105% of the Total Premiums Paid and includes optional riders for added protection.

Unique Features

  • 5 Plan Variants
  • Monthly Income Payout
  • Accidental Death Benefit

Reliance Nippon Life Surakha (Pros)

  • Early Return of Premium
  • 4 Rider Options
  • Life & Health Variant Available

Reliance Nippon Life Surakha (Cons)

  • 12 Months WP for Suicide
  • No Policy Loan
  • No Surrender Value For Life & Health Variant

Reliance Nippon Life Surakha (Other Benefits)

  • Special Surrender Value
  • Critical Illness Benefit
  • Life Accidental Death and Disability Plus Rider

Reliance Nippon Life Surakha (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 75 years
  • Premium Payment Term - RP, LP (10/15 Years)

Life Insurance Articles

Life Insurance FAQs

Life Insurance FAQsSeptember, 2021

Naval Goel

Reviewed By: Naval Goel

Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.