Future Generali Complaints & Reviews

Respected Sir/Madam,
I got a marketing call from Future Generali regarding insurance. After that advisor Pawan Gautam and Ravi Choudhary visited my residence and explained to me regarding the policy called Saral Anand. I told them that I wanted the policy term to be only five years they said it would be ok and explained to me that if I deposit Rs. 30000 per year for five years I would be getting around Rs 307000/- after five years when I would surrender the policy. I got interested and policy no. 008950 was issued to me. Claims made were a totally false which I got to know when I called their customer care for more information regarding the policy. Other than that they also told me that I would be getting coupons worth 30% of the premium amount that is Rs. 9000 every year to shop from Big Bazzar absolutely free. These policies I think are mostly based on false claims and lies that is the reason why instead of giving my mobile number someone else’s number was given to be as mine that too I got to know from customer care. Using so much of fraudulent tricks to fool the customers for own benefits and knowingly hiding the right facts by misrepresentations isn’t it criminal to do so but no action is taken against such wrong doings which amount to criminal activity. I know I would not have been the first customer to be fooled and misled by tricks of such people but they continue to do so because no action is taken against such people from Insurer such as Future Generalli in my case, who are encouraging such people as they get business from them.
I have already presented my policy for cancellation in the C.P. office of the Future Generali which is in free look period of 15 days as I got the policy on 3rd NOV. 2011. There office did not give me any signed receiving for the policy surrendered.
Thanking You,
Vikram Singh Nagar,
184, Vill. Khichripur Date – 11/11/11
Delhi-91

Dear sir,

My name is Mehul Hindocha, I m ex-employee of Future Genrali india insurance co. Ltd.

I joined Future Generali on 30/10/2008 and Left on 7/5/2009

My PF was released before some 1 year but because of My Bank HDFC's Branch was shifted on some other place cheque are returned to PF office Bandra Branch

After that I m still waiting from 1 year but they cant released my cheque

please do the needful in this matter

Thanks
Mehul Hindocha
[protected]

Hello,

We bought a car on 17th October, 2010. The company "Cargo Motors" have a tie up with Future Generali so we were offered insurance by the same. We accepted the insurance without checking the credibility of the company and were provided with Insurance details.

Now, when we are due for a renewal, we were sent a reminder for renewal by Future Generali about the Insurance with a quote of Rs. 23398.

We checked with other insurance companies and one of them offered us almost half the insurance premium. We accepted their offer and asked them to go ahead and process the insurance with their company.

When this new company contacted "Future Generali" to confirm the insurance details with the car Chasis no. They were informed that there is NO matching customer with this name or Chasis number.

We would like your help in this matter as we have been provided with the policy details by "Future Generali" on one hand and on the other they are refusing other insurers by not providing them with the necessary details.

Have we been fooled by being issued fake policy certificates by the company? Could this be a company gimmick to retain their customers at higher premium?

Kindly investigate and help us resolve this matter as soon as possible.

Thanking you,

Shivani Bhargava

Dear Sir,
I have taken a policy from Future Generali on 26.07.2011.(Dream Guarantee Plan)
Policy No.00851358.Receipt No.11375688.
For this purpose their Financial Planning Associate Mr.Jitendra Kumar Tripathi & Mr.Prakash Jha met me and gave me the clarification about the plan and that time they assured me that a special offer is going on i.e. if I would invest Rs.16000.00 at a time the company will provide free gift scheme which includes
1.One Branded Shirt.
2.One Mobile Phone(With Latest Features)
3.One wireless optical Mouse.
But till date I have got only one shirt and afterwards whenever I try to call to Mr.Tripathy(No.[protected]) or Mr.Prakash Jha(No.[protected]) they never pick up the phone and try to avoiding me.
I called to their Delhi office & Mumbai office but nobody could help me in this matter even they denied to know the above said persons and advice me to write customer care.

Please resolve the matter at the earliest.

Thanks & regards,


Amit Jyoti Banerjee

Phone No.[protected].

Please find attached herewith the submission details for your PF withdrawal.



You can check your PF Withdrawal status on PF office’s web site (i.e. www.epfbandra.org) by mentioning the below mentioned details after 15 days from the date of submission:



1. Establishment Code: 48708

2. Extension (if any): Not Applicable

3. Employee number (PF account number): 1375



You can directly get in touch with the PF office on the below mentioned contact / email id.

Dear sir,

This is Arsh Deep Sharma from ur Ex-Employee of your company, Sir i have an issue regarding my pf.from last 3 Months i have submit all formalities to get pf at delhi office to(Employee Deepa Mam) and one person from Mumbai call me before 1 month, your pf is clear at our hand and you will get within 15 days in ur bank account but i cant get and he told me rest of half pf you will get from jammu pf department but they refuse it because they have not my pf account number for jammu. In my salary slip my pf account no. is MH/48708/4055 Employee Code 884006.and jammu pf department wants my jammu pf account no.and please resolve my problem as soon as possible.

I shall be thankfull to you.


Yours faithfully

Arsh Deep Sharma
Jammu
[protected],[protected]

My name is Kumar employed at Future Generali in Madurai during Oct 2008 to Oct 2009. My employee code is 885069 & my PF ACC Num is 5810 & the establishment code is MH/48708. I have furnished all the details & send it through Courier from Madurai FG office on 18th June 2011.But till now I haven't got my Pf credited into my Acc. num[protected] ICICI Bank, Kotchadai Branch, Madurai. Regarding this I need an explanation & status of my PF Account.

I take the car insurance from Future Generali through Mr Raj (Agent of Delhi – Saket branch, Religare Finvest Limited, D3, P3B, District Centre, Saket, New Delhi-110017). I had given the engine no. & chasis no. of my new car - Chevrolet beat to Mr raj & he did the insurance but after 1-2 days my car dealer (Apex Auto – Gurgaon) informed me that there was the dent on the car roof, so they changed the car. Accordingly Apex Auto gave us the new engine no. & chasis no.. Whole story was informed to Mr Raj & new Engine no. & Chasis no. was also provided to him on mail. He assured us that there is nothing to worry about as he will do the endorsement from his side. But now when I went to claim the insurance on 30th may, surveyor told us that engine no. & chasis no, is different on RC & insurance copy; contact the person who did the insurance. We went back to Raj on the same day 30th May & informed the whole story to him. He again said that there is no problem & he will do endorsement & our claim of Rs 7152 will settle in 2-3days. But now he stopped picking our calls from the last 3-4days. Now I got hopeless & exhausted in doing the numberless follow ups with Future Generali to settle this claim of very small amount & decided not to take any kind of insurance from Future Generali. But my question is: why the customer will suffer because of the mistake of any agent of Future Generali. If he did any mistake than may be he has to take the lead & solve all the problems instead of keeping mum & waiting for insurance to expire. May be there will be some procedure to track this to avoid any customer harassment & future generali has to take the action against such agents.

they are selling insurance products as investments product and carryin 15 to 20 percent returns wich the company has not given. total mis selling is happening. and the sales managers who are working havs their own family members as advisors and they themself earn the commission, which is an integrity issue as far as irda is concerned. this thane branch is spoiling sales managers career by removing them anytime they say without giving a proper notice period. in the last one year , almost 50 people have been told to resign on immediate basis.they use their natural market and throw them out of future generali. and all heads compliment each other in that.

I had resigned from my job from Future Generali India Life Insurance Co Ltd on 1st Oct 2010. I had submitted a request for PF Withdrawal. The company responded to me stating that the request has been registered with the PF org of India and submitted to RO Bandra on 19th Jan 2011. I had been given few details on how to track my account status online. I have never been able to track my status as the site always reverts with the message that my claim has not been submitted or it is paid. I have not got any help from the HR team of FGI inspite of repeated mails and communication to them. They tell me to track it online. I have registered my grievance on the PF site and written to the designated person again and again but to no avail. My grievance registration number is ROBND/E/2011/02477 .

Please guide me

I was approached by Future Generali agent (Manjunath - Arun) for a product which runs for 5 years. After filling the form and all I recieved a bond which had 15 years period! I was completely shocked and the person is not taking the phone. My policy numbers are:00789275 & 00782884. WHen spoke with the call centre they redirected to office. I spoke with one guy he said they can change this. But why this kind of cheating of changing term as well as some details like phone number etc are of some ones. WHy this kind of business? I lost trust of this kind of business practice by these folks and would like to withdra the same as what i got is not what i wanted. Let me know how can I go ahead in handling this.

Dear Sir,

I have submitted PF through company on 27/11/2010 but FUTURE GENERALI INDIA SUBMITTED PF on 05/01/2011 PF NO:MH/48737/304 company given bandra link in that link unable to get the claim status & Grievence no is ROBND/E/2011/00585 Pl.help in getting the epf claim.


Regards,
Rafeeq,
[protected].

Dear Sir,
My PF number is MH/48737/57. I had originally submitted my papers to the PF office thru my previous employer on 16/04/2010, claim for which was processed on 17/05/2010 and 18/05/2010 as per the data on the website. The cheques were to be directly deposited in the account, details of which were given in the form as well as a cancelled cheque leaf attached alongwith the application. Incidentally the bank shifted the branch owing to which the cheques got misplaced in post and never reached either the bank or back to the PF office.
Consequently I have re-submitted the application for processing the claim on 23/08/2010 confirming that the money has not been deposited in my account alongwith a certified copy of the bank statement but the claim has not been processed till date. Request help in getting my money.

Regards,
Hemant Shrivastava

On EPF site also Form 19 & From 10 C rae showing under process from 19th May 2010. When I will receive my money ? I dont have any job now & I need my money on urgent basis.
Organization no. is 48708 & employee no. is 70.
I had registered my complaint on 9th Sep 2010 also with complaint registration number ROBND/E/2010/02919 but no reply/response after that. Pl look in to the matter & let me know.
Thanks.
Parag Shah
(C) [protected]

I had insured my car Grande Punto with Future Generali its been less than 2 months i got my brand new car and an unfortunate accident led to all the four alloy wheels getting damaged....now Future Generali Claims would not honor the insurance....pathetic service...even worse the cars been in the workshop awaiting an approval for over 3 weeks and now i'm being told that it will not be honored for the alloys....wat a joke....why do we have to pay the insurance...is it not for unforeseen incidents like this.....the surveyor's lack technical knowledge and even after Fiat corroborating the claim ...Future Generali is of no help.....utterly useless to get this company to insure your car or anything for that matter...and even after complaining the same to their customer service ...theres nothing done about it....refer to [protected]

Dear Sir,
We have submit the EPF claim form in month of 18 january 20010 in our organisation ( Future Generali India Life Insurance Co.) but till date we have not recieved the payment.
kindly help us,,
Emp.Name- VAJID HUSAIN
Emp.Code.- 887678
Mob.[protected]
E-Mail- [protected]@yahoo.co.in
OFFICE ADDRESS-
M-10 FUTURE GENERALI INDIA LIFE INS.CO.SOUTH-X NEW DELHI

Kind Attn. Mr. Bajpai- Chairman
Kind Attn. Dr. Kim chai ooi- Country Manager

This commmunication is meant to be seen at your level, as people in the team down the level have done cheat and fraud using your organization name. Inspite of various discussions with them, i don't see things are moving at all in system.

I am being harassed unnecessarily because of wrong commitments. Organization wrong practices are demonstrated by team members.

I am sure whether this mesaage will reach you therfore ensuring it is broadcasted from media to ensure more customers should not fall under this trap.



Thanks

Yogesh

[protected][protected][protected][protected]
From: Yogesh Arora <[protected]@yahoo.com>
To: Care <[protected]@futuregenerali.in>
Sent: Tue, 21 September, 2010 12:19:31 PM
Subject: Re: 'FutGen=022-241' Re: GUARENTEED BENEFIT


Dear Team,

Please cancel my policy at earliest and refund the total amount. I would like you to demonstrate speed in action rather than discussion.I am waiting for your formal reply before i formally proceed for next action.

Thanks

Yogesh


[protected][protected][protected][protected]
From: Yogesh Arora <[protected]@yahoo.com>
To: Care <[protected]@futuregenerali.in>
Sent: Mon, 20 September, 2010 10:40:48 AM
Subject: Re: 'FutGen=022-241' Re: GUARENTEED BENEFIT


Dear Customer Service Manager,

I am waiting for your response. As you have chosen not to respond, please be ready to pay for causing mental agony for cheat/fraud done withme for the same. I shall put forward the matter for legal proceedings and you will bear all the cost.

Thanks

Yogesh

[protected][protected][protected][protected]
From: Yogesh Arora <[protected]@yahoo.com>
To: Care <[protected]@futuregenerali.in>
Sent: Thu, 16 September, 2010 12:32:03 PM
Subject: Re: 'FutGen=022-241' Re: GUARENTEED BENEFIT


Dear Team,

Thanks for your email acknowledgment. Note that i will wait till Friday 16th Sept'2010 although i was expecting that professional organization like yours will have some systems in place to check/verify records on priority not waiting for last moment.

Thanks & Regards

Yogesh Arora




[protected][protected][protected][protected]
From: Care <[protected]@futuregenerali.in>
To: Yogesh Arora <[protected]@yahoo.com>
Sent: Wed, 15 September, 2010 7:40:04 PM
Subject: RE:'FutGen=022-241' Re: GUARENTEED BENEFIT


Dear Mr. Arora,


We thank you for choosing us as your preferred life insurance provider and hope that you are enjoying the benefit of security that our policy offers you.

This is with reference to your policy number 00587949 and your mail dated 14/09/2010.


We have noted your concern your concern and have forwarded for investigation, kindly be assured that our company representative will get in touch with you at the earliest.

The service request number of this interaction is [protected].

For further assistance feel free to write to us or contact our toll free numbers[protected]MTNL and BSNL) and[protected]Airtel) between Monday to Saturday 8:00 am to 8:00 pm.

Assuring you of the best of services.


Request: Please do not change the subject line for future communications and to ensure prompt services.


Yours Sincerely,
Customer Care Team.


-----Original Message-----
From: Yogesh Arora ([protected]@yahoo.com)
Date: Tuesday, September 14, 2010 10:22 PM
To: FUTURE GENERALI ([protected]@gmail.com); [protected]@futuregenerali.in ([protected]@futuregenerali.in)
Subject: Re: GUARENTEED BENEFIT

Dear Sanjay Agarwal,


(Manager L&D | Mallassurance | Delhi NCR & Punjab

Future Generali India Life Insurance Co. Ltd.

Deepsons Building, 1st Floor, M – 10,

NDSE Part -2, New Delhi 110049

( +[protected] |)



Thanks for your confirming commitments on email. I have recd. the policy papers. Unfortunately all commitments made by you are not appearing in policy papers.

Assured Return of 10% on 6th year - 247256/-
215% Assured Guarenteed Banifit on 5th year - 64500/-
Shoping Voucher of Validity one year -10000/-
Policy Validity i had asked the tenure to be for 5 years, however it is mentioning 20 years.
I am surprised if commitments made to me from you/team are genuine. Please note that in case of any fake commitment, i prefer to surrender the said policy back and look for refund.



You are advised to confirm on commitments on Company Letterhead latest by Friday failing which i will approach to Ombudsman and cancel said policy with full refund.



Thanks & Regards



Yogesh









[protected][protected][protected][protected]
From: FUTURE GENERALI <[protected]@gmail.com>
To: [protected]@yahoo.com
Sent: Sun, 29 August, 2010 9:43:51 AM
Subject: GUARENTEED BENEFIT



Respected Mr. yogesh arora



Future Generali Guarantee Advantage Plan


· Key features

· How does it Work?

· Benefits

· Assured Loyalty Additions

· Investment returns

· Policy account value (PAV)

· Flexibility

· Fees / Penalty under your policy

· Eligibility criteria

· other features

· Exclusions & Other Restrictions

· Variability of the fees



(UIN No: 133N027V01)



Life inspires us to look ahead, for a better future, for better investments.



Change is the rule of life. Times change and with each passing phase, needs keep getting bigger, the list of desires keep getting longer.



We understand the demands of changing times. So we ensure that you get most out of your hard earned money. Unpredictable market conditions should not decide the returns from your investments. That’s why we strive hard, so that you have assurance of accelerated guaranteed returns while you enjoy the moments of life.



We offer you "Future Generali Guarantee Advantage Plan" which offers host of flexibilities to change your insurance plan with your ever changing needs.



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1. Key features



· This is a non linked, non participating plan.

· Provides Assured Loyalty Additions ranging 215% of the first year annual premium

· On death other than accidental, sum assured + Policy Account Value + Assured Loyalty Additions (if eligible) is payable to the nominee.

· On death due to accident provided life assured is above age 18, 3 times sum assured + Policy Account Value + Assured Loyalty Additions (if eligible) is payable to the nominee.

· On maturity, Policy Account Value + Assured Loyalty Additions (if eligible) is payable to the life assured.

· Separate account namely Policy Account will be maintained at policyholder level.

· Investment Return will be declared in advance by the company every quarter.

· Partial withdrawal can be made after 3rd policy year. No partial withdrawals will be allowed in the last 5 years of the policy.




Annual Premium for 5 year - 30,000/-
Assured Return of 10% on 6th year - 247256/-
215% Assured Guarenteed Banifit on 5th year - 64500/-
Shoping Voucher of Validity one year -10000/-


2. How does it Work?



Step 1: Decide your premium amount

You have to first decide the amount you want to invest as premiums under the policy. The minimum amount of annual premium is Rs 6,000.



Step 2: Decide your Sum Assured

Your Sum Assured depends on the amount of premium that you decide to pay. The minimum Sum Assured is 5 * annualized premium.



Step 3: Decide your policy term

You have to decide the policy term of 5 yrs, 10 yrs, 15 yrs, 20 yrs, 25 yrs or 30 yrs for which you would like to avail the benefits of the policy. You have to pay the premium through out the policy term. Depending upon your financial planning, you can decide the policy term.



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3. Benefits



3.1 Maturity Benefit:

On the maturity of the policy the Policy Account Value as on the date of Maturity plus the Assured Loyalty Additions are payable to the life assured



3.2 Death Benefit

Prior to Risk Commencement

In an unfortunate demise of the life assured either natural or due to accident, prior to the commencement of risk under the policy, we will pay the Policy Account Value plus Assured Loyalty Additions (if eligible) to the nominee.



After Risk Commencement

Death other than accidental

In an unfortunate demise of the life assured after the commencement of risk,

· the Sum Assured plus the Policy Account Value plus Assured Loyalty Additions (if eligible) are payable to the nominee

Death due to accident

In an unfortunate demise of the life assured due to an accident after attaining age 18 years,

· 3 times Sum Assured plus the Policy Account Value plus Assured Loyalty Additions (if eligible) are payable to the nominee.



With in first three policy years, after the risk commencement, if the premiums are discontinued and the life assured dies during the revival period, we will pay the fund value as on date of death



Note:

No additional accidental death benefit is payable under the policy if the life assured is a minor at the time of death
If the proposer predeceases the life assured during the minority of the life assured, no benefit will be payable. A new Proposer may be appointed.
The Date of Commencement of Risk would be the date of issue of first premium receipt. If life assured is below age 10 at the time of policy issuance, risk under the policy will commence from the later of
The policy anniversary falling after life assured attains 10 years of age1
2 policy years after commencement of the policy


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4. Assured Loyalty Additions

On maturity of the policy, the life assured receives the Assured Loyalty Additions as a percentage of first year premium depending upon the policy term. Assured Loyalty Addition is available at maturity if the policy is in force. After the 8th policy anniversary, if death occurs anytime before the maturity date and the policy is in force at time of death, assured loyalty addition is available. The Assured Loyalty Additions are as under




Policy Term
Assured Loyalty Additions(as % of First year Premium)

5 years
215%

15 years
215%

20 years
265%

25 years
265%

30 years
325%




Eligibility Condition; The Assured Loyalty Additions are payable on in-force policy at maturity or at earlier death after 8 years from policy commencement



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5. Investment return

Interest rate will be declared for each quarter in advance for the next 3 months i.e. January to March, April to June, July to September and October to December. The interest applying the declared rate will be accrued to the Policy Account every month.

The interest rate is guaranteed for the quarter for which it is declared, for existing Policy Account Value. However for new premiums, (Whether from existing policies or new policies), it is not guaranteed and can change in case of extreme fluctuations in interest rate. In that case the company will declare a new rate applicable to the new premiums for the rest of the quarter.



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6. Policy account value(PAV)

From the premium paid, the allocation fee gets deducted and the balance Premium is invested in Policy Account Value. All applicable fees will be deducted from the PAV at every monthly anniversary of the policy.



For the Quarter ended June 2010, the Interest rate is 7%.p.a.



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7. Flexibility

Surrender: Surrender can be made any time during the policy term. If policy is surrendered before the end of 3 policy years, the surrender value equal to Policy Account Value less applicable surrender penalty and Market Value Reduction (MVR) if applicable will be kept frozen on date of surrender & no subsequent fees will be deducted & that surrender value will be paid at completion of 3 years. Assured Loyalty Additions are not payable on surrender.
Partial Withdrawal: The policy holder can make partial withdrawals only after completion of 3 full policy years. One partial withdrawal is allowed per policy year. The minimum amount that can be withdrawn is Rs..2,000/- (in multiple of ‘000). The maximum amount that can be withdrawn per year is 10% of the Policy Account Value. Partial withdrawals are not allowed in the last 5 years of the policy.
Partial withdrawal can be made if the attained age of the life assured at the time of withdrawal is 18 years or above, or by the proposer during his/her lifetime if the life assured is a minor.The PAV after a partial withdrawal should be at least equal to one year’s annualized premium.

Partial withdrawal is subject to surrender penalty & Market Value Reduction (MVR), if applicable.

Decrease in Sum Assured: A decrease in sum assured is allowed subject to minimum conditions under the plan. However, the premium will not be reduced and remain same.


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8. Fees / Penalty under your policy

Partial Withdrawal Fees: One partial withdrawal is allowed per policy year. And is subject to surrender penalty and MVR as applicable at the time of withdrawal.
Surrender Penalty: On Surrender of the Policy Account Value, the Surrender value shall be obtained after applying the surrender Penalty as under

No of Completed Policy Years
Surrender Penalty as a % of Policy Account Value

Year 1 or less
100%

More than 1 but less than or equal to 2 yrs
50%

More than 2 but less than or equal to 3 yrs
35%

More than 3 but less than or equal to 4 yrs
20%

More than 4 but less than or equal to 5 yrs
10%

More than 5 years
Nil


The surrender value is subject to Market Value Reduction factor.
Fluctuations in market interest rate bring in volatility in value of assets in the portfolio of this plan. Surrender of policies after erosion in portfolio value affects the interests of continuing policyholders. To avoid this, Market Value Reduction (MVR) will be applied on surrender, if required.
The Market Value Factor (MVR) factor is given by the formula as under,
MVR = 1 – Market value / Book Value
9. Eligibility criteria:




Minimum – Maximum Entry Age
Minimum: 0 years (as on last birthday)
Maximum: 60 years (as on last birthday)

Minimum - Maximum Age at Maturity
18 years to 70 Years

Premium Paying Frequency
Yearly & Half-Yearly

Policy Term
5Yrs, 10 yrs, 15 yrs, 20 yrs, 25yrs & 30yrs. The policy term shall be such that the life assured is a major at the time of maturity of the policy

Premium Paying Term
Equal to Policy Term

Minimum Sum Assured
5 times Annual Premium

Maximum Sum Assured
M*First Year Annual Premium, where M is a factor which depends upon the age at entry (of the life assured)

Age at Entry (last birthday)
Multiple Factor

0 to 40 years
25

41 to 45 years
15

46 to 50 years
10

51 to 60 years
5




The maximum sum assured that can be opted for under this plan is Rs 25 lakhs

Minimum / Maximum Premium
Minimum
Yearly - Rs 6,000/-
Half yearly – Rs 3,000/-

Maximum Annual Premium – Rs5 lakhs




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10. other features:

Free Look period: If you are not satisfied with the terms and conditions under your policy, you may cancel the policy within the free look period of 15 days from the date of receipt of the policy document. We will refund the premium paid subject to the deduction of the proportionate risk premium for the period of cover, the expenses incurred by us towards medical examination, if any, and stamp duties.
Grace period: : A grace period of 30 days from the premium due date will be allowed for payment of yearly, half yearly premiums. The policy will remain in force during the grace period. If any premium remains unpaid at the end of the grace period, the policy shall lapse. The policy benefit thereafter would have no further value except as provided under the non- forfeiture provisions.
Premium Discontinuance: If premiums are not paid in the days of grace, a policy lapses. The following will apply based on the number of years’ premiums paid before lapse.
Discontinuance of due premiums before completion of 3 policy years:
If all the due premiums have not been paid within the days of grace, the insurance cover & inbuilt accidental death benefit shall cease immediately. The policy will continue to accrue interest as and when due and all fees other than insurance fees will continue to be deducted.

A policy may be revived within the revival period of 2 years from the due date of first unpaid premium.

In case the policy is not revived during this period, the policy shall be terminated and the surrender value, if any, shall be paid at the end of the period allowed for revival. If a policyholder surrenders a policy before the end of 3 years from the date of commencement, the surrender value will be calculated as on the date of surrender and the amount will be kept frozen with the insurer and the same will be payable on completion of three policy years. The policy will take no further part in the investment performance. No subsequent fees will be deducted for such a policy.

Treatment of such policies in valuation of liabilities:
During the revival period, a provision will be made for liabilities arising out of likely future revivals of these policies.

Discontinuance of due premiums after payment of at least 3 years premiums:
If all the due premiums have been paid for at least three consecutive years and subsequent premiums are unpaid, a policy may be revived within the revival period of 2 years from the due date of first unpaid premium.

During this limited period for revival, the insurance cover under the base plan shall be continued by levying appropriate fees. The cover under the inbuilt accidental death benefit will also continue. The policy will continue to accrue interest as and when due. All applicable fees will continue to be deducted

At the end of the allowed period for revival, if the policy is not revived, the policy shall be terminated by paying the surrender value. However, the life insurance cover and in built accidental death cover under the plan may continue, if so opted to by the policyholder, by levying appropriate fees until the surrender value does not fall below an amount equivalent to one full year’s premium. The policy will continue to accrue interest as and when due.

When the PAV reaches an amount equivalent to one full year’s premium, the policy shall be terminated by paying the PAV.

Assured loyalty Additions are not payable in any payment made to a policy in which premium is discontinued.

Revival: If premiums are not duly paid within the period of grace and the policy is not surrendered, the policy may be revived for full benefits within a period of two years from the due date of first unpaid premium and before the date of maturity while the life assured is still alive. The revival will be considered on receipt of
A written application from the policyholder along with the proof of continued insurability of the life assured as specified by the Company from time to time and
On payment of all due premiums.


The revival will be effected at company’s discretion and subject to such terms and conditions as the company in its discretion may decide. On revival all the due premiums shall be payable subject to any underwriting requirement.

A lapsed policy shall continue to participate in the Quarterly Investment Return for the existing amount in the PAV.

Nomination & Assignment: Provided the policyholder is the life assured, he / she may, at any time before the policy matures for payment, nominate a person or persons as per Sec 39 of the Insurance Act 1938, to receive the policy benefits in the event of his / her death
The Policyholder can also assign the Policy to a party by filing in a written notice to us. The assignment should either be endorsed upon the Policy itself or documented by a separate instrument signed in either case by the Assignor stating specifically the fact of assignment.. Only the entire policy can be assigned and not individual benefits or any part thereof. Any assignment shall automatically cancel a nomination except any assignment in favour of the Company.

Tax Benefits: Tax benefits are available as per prevailing tax laws. Please consult your tax advisor for the same.


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11. EXCLUSIONS & OTHER RESTRICTIONS

No benefit will be payable in respect of any condition arising directly or indirectly through or in consequence of the following exclusions and restrictions -

Suicide Exclusion
If the life assured commits suicide within one year from the risk commencement date or revival date, if revived, whether sane or insane at that time, the Policy shall be void and the Company will not pay any claim by virtue of this Policy.

For benefit under Accidental Death
No benefit will be payable in respect of any condition leading to accidental death arising directly or indirectly from, through or in consequence of the following exclusions:

Arising out of self inflicted injury, suicide, or death whilst under the influence of intoxicating alcohol, or narcotic substances;
Arising out of riots, civil commotion, rebellion, war (whether war be declared or not), invasion, hunting, mountaineering, steeple chasing or racing of any kind, bungee jumping, river rafting, scuba diving, paragliding or any such adventurous sports or hobbies;
As a result of the life assured committing any breach of law;
Arising from employment of the life assured in the armed forces or military service of any country at war (whether war be declared or not) or from being engaged in duties of any para-military, security, naval or police organization; and
As a result of accident while the life assured is engaged in aviation or aeronautics in any capacity other than that of a fare-paying, part-paying or non-paying passenger, in any aircraft which is authorized by the relevant regulations to carry such passengers and flying between established aerodromes.


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12. Variability of the fees

The allocation fees are guaranteed.
The policy administration fee can be increased by not more than 5% per annum since inception.
The company may change the investment management fees from time to time.
Insurance fees are guaranteed.
The surrender penalties are guaranteed.
The 10% cap on partial withdrawal is subject to change, subject to IRDA approval.
A month’s notice will be given to the policyholder in case of an increase of fees whenever fees can be increased. The increase, if any, will apply from the policy anniversary coinciding with or following the increase.

Any change in amount or rate of fees as stated above will be subject to IRDA approval.







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Thanks & Regards,

Sanjay Aggrawal ?

Manager L&D | Mallassurance | Delhi NCR & Punjab

Future Generali India Life Insurance Co. Ltd.

Deepsons Building, 1st Floor, M – 10,

NDSE Part -2, New Delhi 110049

( +[protected] |

Mail: sanjay.[protected]@futuregenerali.in Visit: www.futuregenerali.in




< TD>

dear sir,
maine future generali se ek ULIP policy purchage kiya policy no hai 00411157. company ke represantitive ne mujhe single premium policy bata kar mere se paisa liya aur mujhe regular premiul policy issued kar diya maine imidiate complain kiya but company mere complain ko deniy kar de raha hai.
sir please do the needfull as soon as possible.

Thanks & Regards,
Nishikant Singh
Email singh.[protected]@gmail.com
[protected].

Dear Concern,
As i am waiting for my PF from[protected] but no body from company end and from pf deptt end is ready to take any serious action,i had forward many mails to the deptt now no one is ready to take further action .Now i am talking to the pf deptt but they are just wasting my time.Kindly do the needfull.My Pf No Is MH/48708/2982.

Thanks & Regards
Darpan Walia
[protected]

Dear Partha,

Sub: Pending clam for settlement of Regent Station (Howrah) for more than 7 months after submitting all the documents.

As our telephonic conversation with you we were assured that the claim will be settled down within 7 days, and now even after one and half month of discussion, we still don't have any solution.

Before 40 days Mr. Sumitra Mukerjee Visited our office and we have submitted all supporting documents to the surveyor and also your company to process the claim procedure but our claim settlement is still pending.
Kindly note that the incident took place on 3nd January 2010 and today is 4th August 2010 already 7 months passed and we don’t know how much time you will take.
I never expected this kind of delay from Future Generali Insurance and i wonder if there are so many hassles and so much running around for a claim of Burglary. God forbid if there is a major misfortune, then what the company would do??? I am having a real Nightmare dealing with Future Generali insurance.
So we request you kindly take the necessary action and settle this claim as soon as possible as already 7 months passed.

Rgds

Ashok