- 1 Why Future Generali Individual Health Insurance Plans?
- 2 Overview of Future Generali Individual Health Insurance
- 3 Advantages of availing Future Generali Individual health insurance plans
- 4 Exclusions or incidents that Future Generali Individual Health Insurance Plans do not cover
- 5 How to Apply For Future Generali Individual Health Insurance Plans?
- 6 Scope of Coverage
- 7 Eligibility for Future Health Suraksha Individual Plan
- 8 Future Generali Individual Health Insurance Premium Calculation
- 9 Conclusion
- 10 Future Generali Individual Health Insurance FAQs
- 10.1 What is a floater policy?
- 10.2 What is the meaning of a Third Party Administrator or TPA?
- 10.3 What is the difference between Inpatient hospitalization and Day Care treatment?
- 10.4 What are network hospitals?
- 10.5 How is Domiciliary Hospitalisation described?
- 10.6 What is the meaning of Cashless access?
- 10.7 What is the procedure for obtaining Cashless access?
- 10.8 What is the procedure for obtaining Cashless access?
Future Generali is a general insurance firm that is a joint venture between the Future Group of Industries, a significant Indian corporate conglomerate, and the Generali Group, a leading Italian-based company that is a market leader in financial protection and wealth management.
Why Future Generali Individual Health Insurance Plans?
Because of the escalating cost of medical expenses and treatment costs for various conditions, Future Generali Individual health insurance plans have become highly significant in the modern era. Furthermore, people’s present lifestyles have rendered them more susceptible to diseases and ailments they want medical attention too. Medical prices are rising, while there is no comparable growth in the average person’s income, resulting in a financial crisis when faced with a medical emergency. As a result, it is important to protect oneself against any medical emergencies that may develop so that the financial element of the crisis is handled at least by the insurance company and medical bills do not become a burden on the average middle-class man.
Overview of Future Generali Individual Health Insurance
The merger of India’s Future Group with Italy’s Generali Group led to the development of a new insurance provider in India, Future Generali India Insurance Co. Ltd., which provides general assurance solutions. (Future Generali India Life Insurance Co. Ltd. offers life insurance)
Future Generali India Insurance Co. Ltd., based in Mumbai, started operations in 2006. This private insurance firm intends to serve its customers by combining Generali Group’s worldwide leadership skills and Future Group’s local market knowledge. Together, these two corporate titans bring the best techniques from India and worldwide to the general insurance industry.
The Future Group of India is a force to be reckoned with in the Indian retail business. It is best recognized for its major supermarket chains, Food Bazaar and Big Bazaar, as well as other retail stores that deal in fashion and electronics, such as Central, Home Town, and E-Zone, to mention a few. The Future Group is able to recognize market gaps and possibilities and successfully and innovatively address them while adhering to its core tenet of ‘keeping things Indian.’
Its business is not confined to fashion and lifestyle items. It also addresses logistics, the supply chain, and infrastructure. Furthermore, it creates and promotes brands that continually influence Indian consumers. They have a large market presence, serving over 300 million clients in 90 cities and 60 rural areas.
Since its humble beginnings in 1831, Generali Group has become a leading insurance provider recognized worldwide for its exceptional managerial qualities. It attracts customers from over 60 countries and has a customer base of over 65 million. Their impressive capital and financial position positions them to handle the challenges of a rising market such as India. They intend to expand its footprint in new markets to capitalize on its key strength of successfully balancing risks and profitability.
Future Generali provides a wide range of general protection solutions for all business sectors, including house, auto, and health insurance. Through items like engineering and maritime insurance, it also develops sophisticated solutions to fulfill large-scale requirements.
Advantages of availing Future Generali Individual health insurance plans
Future Generali’s organization prioritizes quality, client relationships, and the streamlining of the claims process. Today, the organization is among the most trusted names in the country’s insurance market. The following are the benefits of purchasing health insurance policies from Future Generali:
- Cashless hospitalization is available nationwide through a network of over 4200 facilities.
- The costs of pre- and post-hospitalization are covered.
- There is lifelong rejuvenation.
- Section 80D provides a tax break of up to Rs. 25000.
- Certain insurance includes daycare operations.
- There is a 15-day free look-in period.
- Portability is permitted.
- After four claim-free policy years, authorized centers provide free health exams.
Exclusions or incidents that Future Generali Individual Health Insurance Plans do not cover
Future Generali Individual Health Insurance Plans do not cover the following conditions:
- Hospitalization expenses incurred due to diseases or injuries suffered within the first 30 days of the policy’s inception. This clause does not apply if the policy is renewed later.
- The Future Generali Health Insurance plans do not cover the following medical problems for the first two years from the date of policy inception:-
- Pre-existing conditions for which the insured obtained consultation or treatment before the start of the policy will not be covered until four policy years have passed.
- Illnesses that occur within the first thirty days of policy start are not covered.
- There is no coverage for non-allopathic operations.
- AIDS and AIDS-related illnesses are not covered.
- Congenital diseases are not covered.
- Illnesses or injuries caused by the use of drugs or alcohol are not covered.
How to Apply For Future Generali Individual Health Insurance Plans?
The company’s health insurance products are available through a variety of outlets, including:
- Individuals interested in acquiring health insurance plans from Future Generali can visit the company website and receive advice on which health insurance plans are best for them.
- Individuals interested in purchasing a plan can contact the company’s Sales helpline and chat with a customer service representative.
- Interested clients may contact the company directly at email@example.com.
- They can talk online with a customer support agent about health insurance plans from 9 a.m. to 6 p.m., Monday through Friday.
- They can also request a phone call by leaving their name, phone number, and email address on the company’s website.
- Finally, clients may visit the company’s branches or purchase the necessary plans or contact an agent.
Scope of Coverage
- Cashless hospitalization at any of the company’s 4200+ hospital network.
- Hospitalization medical charges are paid
- According to the supplied benefit, this plan is divided into three categories: Basic, Silver, and Platinum.
- Medical examinations are waived up to 45, subject to a clean proposal form. Medical tests are required for people above 45, and the client is compensated for half of the costs.
- The maximum sum assured for entrance age up to 55 years is Rs. 10 lakhs; the maximum sum assured for entry age over 55 years is Rs. 5 lakhs.
- Re and post-hospitalization fees are covered for 60 to 90 days.
- Pre-existing conditions are covered after four consecutive insurance renewals.
- Only the Platinum plan allows for hospital cash benefits.
- Ambulance expenses are reimbursed up to Rs. 15000.
- One hundred thirty daycare procedures are covered.
- The expenses of an accompanying individual are paid up to Rs. 500 per day.
- Patient care expenses are reimbursed for persons over 60, up to Rs. 350 per day.
- A cumulative incentive ranging from 10% to 50% is granted for each claim-free year.
- The cost of a health check-up after four years of no claims is covered at authorized locations.
- The customer may acquire additional protection for accidental hospitalization, which increases the sum Assured limit by 25% up to a maximum of Rs. 1 lakh.
- After two insurance years, there is coverage for cataracts, tumors, hernias, and other comparable conditions.
- Gallstones, kidney stones, and similar illnesses are covered after one year.
- After three insurance years, there is coverage for Joint Replacement Surgery that is needed for reasons other than an accident.
Eligibility for Future Health Suraksha Individual Plan
Any Indian resident between 18 and 70 is eligible for lifetime renewal.
Children aged three months to twenty-five years are covered as long as their parents are insured.
Future Generali Individual Health Insurance Premium Calculation
The amount you pay to the insurance provider to receive benefits under your health insurance policy is referred to as the health insurance premium. You must pay a health insurance premium after the policy term but before the coverage expires. For example, if you purchase one-year health insurance coverage, you must pay the premium annually.
Calculating health insurance premiums is crucial because it approximates the premium you will be required to pay for the shortlisted health insurance plan. The following are the elements that influence your health insurance premium:
- Age: Purchasing health insurance coverage at a young age allows you to save money on health insurance rates. Because you have a strong immune system when you are young, you are less prone to sickness and illness. As a result, the earlier you buy health insurance coverage, the lower the premium you will have to pay for your Future Generali Health Insurance plan.
- Sum Insured: The larger the sum insured amount you select, the more coverage you will receive under your Future General Health Insurance policies. Thus, the higher the premium you must pay. However, it would be best if you did not reduce the sum insured because of the higher premium. A health insurance policy with a lower sum insured amount may not be adequate for you in a significant medical emergency. In such instances, you can also choose a top-up health insurance plan to lower your financial obligations without sacrificing coverage.
- Pre-Existing Diseases: Pre-existing diseases are medical conditions that the policyholder already has when they purchase a Future General Health Insurance policy. If you have a pre-existing sickness, you will be obliged to pay a higher premium because you are more likely to be hospitalized and make claims than others.
- Policy Type: The Future Generali Health Insurance policy you select affects your health insurance premium. You can save money on premiums compared to covering each member individually. For example, choose a family floater plan in which two or more people are covered under the same policy.
- Smoking Habits: Smoking has a negative impact on your health. Smoking may cause significant illness(es) or disease(s) that necessitate hospitalization, increasing the insurer’s obligation. As a result, if you are a smoker, you will have to pay a higher premium for Future General Health Insurance policies.
Future Generali Individual Health Insurance is a perfect fit for you if you are looking for a effective health insurance. In today’s world, diseases are evolving irrespective of the individuals’ age and that is why health insurance is a must!
Future Generali Individual Health Insurance FAQs
What is a floater policy?
Clients who choose the “Group Mediclaim Policy” can add a floater policy. A float sum is split amongst family members or employees’ families under the Group Mediclaim Policy under the floater policy.
What is the meaning of a Third Party Administrator or TPA?
TPA, or Third Party Administrator, is a corporation that has obtained an IRDA license allowing them to work as a third party administrator and is thus chosen by the insurance company to handle their health insurance policyholders.
What is the difference between Inpatient hospitalization and Day Care treatment?
The distinction between Day Care Treatment and Inpatient Hospitalisation is that a patient who stays in the hospital for less than 24 hours is regarded to have had Day Care Treatment. In contrast, a patient treated for at least 24 hours or longer is considered an Inpatient.
What are network hospitals?
Under agreements with the TPA of Future Generali Health Insurance, certain hospitals provide cashless treatment to policyholders. These hospitals comprise the ‘Network Hospitals.’ These network hospitals are listed in the TPA user guide and will be available on the TPA’s website. The cashless facility can only be availed at network hospitals.
How is Domiciliary Hospitalisation described?
Domiciliary hospitalization refers to medical treatment provided to patients while confined to their homes.
What is the meaning of Cashless access?
The insurance company’s third-party administrator enables specific hospitals to treat the insured without paying any money. The reimbursement for the therapy thus delivered by the hospital will be made directly to the hospital by the third-party administrator (TPA). The policy terms and exclusions govern the amount authorized for the TPA to pay and the conditions outlined in the contract between the insurance company and the insured.
What is the procedure for obtaining Cashless access?
Each person covered by Future Generali health insurance coverage receives an identity card or a health card.
What is the procedure for obtaining Cashless access?
If hospitalization is required, the identity/health card must be shown together with an authorization letter.