Future Generali Cancer Protect Plan

Future Generali Life Insurance is one of the pioneers in the insurance market in India. Its Cancer Protect Plan is especially customized to insure policyholders on being diagnosed with cancer. This cancer plan enables the policyholder to maintain his/her usual lifestyle while they are undergoing treatment. Future Generali Cancer Protect Plan assures them of financial security, while they focus on necessary treatment and recovery.

Features of Future Generali Cancer Protect Plan

• Covers minor as well as major stages of cancer

• Offers a lump sum benefit on being diagnosed with the disease, depending on its stage

• In case of minor stage cancer, lump sum benefit can be claimed 4 times up to the sum assured during the policy term for different organs.

• The pre-decided sum assured is paid in full in case of major stage of cancer

• Premium payment frequency can be annual or monthly, which can be paid once or throughout the entire duration of the Future Generali Cancer Protect Plan.

Benefits of Future Generali Cancer Protect Plan

• Minor Stage Cancer: A malignant tumour characterized by the uncontrolled growth and spread of malignant cells with invasion and destruction of normal tissues. This diagnosis must be supported by histological evidence of malignancy and confirmed by a pathologist. The term cancer includes leukaemia, lymphoma and sarcoma.

Minor Stage Cancer includes:

Carcinoma in Situ (CIS) of all organs (except skin and prostate), as de ned below and - Early Stage Cancer, as de ned below Carcinoma of Situ of all organs (except skin and prostate):

• Carcinoma in situ (CIS) means the focal autonomous new growth of carcinomatous cells con ned to the cells in which it originated and has not yet resulted in the invasion and/or destruction of surrounding tissues. 'Invasion' means an infiltration and/or active destruction of normal tissue beyond the basement membrane.

• The diagnosis of the Carcinoma in situ must always be supported by a histopathological report.

• Furthermore, the diagnosis of Carcinoma in situ must always be positively diagnosed upon the basis of a microscopic examination of the fixed tissue, supported by a biopsy result.

• In the case of the cervix uteri, Pap smear alone is not acceptable and should be accompanied with cone biopsy or colposcopy with the cervical biopsy report clearly indicating presence of CIS.

• Clinical diagnosis or Cervical Intraepithelial Neoplasia (CIN) classification which reports CIN I, CIN II and CIN III (where there is severe dysplasia without carcinoma in situ) does not meet the required definition and are specifically excluded.

• All CIS of the skin and prostate are specifically excluded. However, tumours of the prostate histologically classified as having a Gleason score greater than 6 or having progressed to at least clinical TNM classification T2N0M0 are covered under the Major Stage Cancer Bene t. All CIS of the skin and prostate are specifically excluded.

• This coverage is available only on the first occurrence of CIS for a particular organ.

• Early Stage Cancer shall mean the presence of one of the following malignant conditions:

  • (i) Tumour of the thyroid histologically classified as T1N0M0 according to the TNM classification
  • (ii) Prostate tumour should be histologically described as TNM Classification T1a or T1b or T1c are of another equivalent or lesser classification
  • (iii) Chronic lymphocytic leukaemia classified as RAI Stage I or II
  • (iv) Basal cell and squamous skin cancer that has spread to distant organs beyond the skin
  • (v) Hodgkin’s lymphoma Stage I by the Cotswolds classification staging system
  • (vi) All tumors of the urinary bladder histologically classified as T1N0M0

• The Diagnosis must be based on histopathological features and confirmed by a Pathologist.

• Pre-malignant lesions and conditions, unless listed above, are excluded.

Free Look Period

In case you disagree with any of the terms and conditions of the policy, you can return the policy to the company within 15 days (30 days if policy is sold through direct marketing mode) of its receipt for cancellation, stating your objections. Future Generali will refund the policy premium after the deduction of stamp duty charges, medical expenses, if any, and proportional risk premium for period of cover, if any.

Surrender Value

There is no surrender value applicable under regular pay option.

The policy acquires a Surrender Value immediately after payment of single premium. The policyholder may terminate the policy anytime by surrendering the policy for a surrender value.

For single premium option, surrender benefit is equal to single premium including extra premium for substandard lives, if any (exclusive of Goods & Services Tax) multiplied by surrender value factor as given below:

Grace Period

You get a grace period of 30 days for annual mode / 15 days for monthly mode from the premium due date to pay your missed premium. During this grace period, you will continue to be insured and be entitled to receive the benefits. If a valid claim arises under the policy during the Grace Period, but before the payment of due premium, the claim will be honoured. In such cases, the due premium will be deducted from the benefit payable.

Tax Benefits

The Premium(s) paid by you are eligible for tax benefit as may be available under the provisions of Section(s) 80D as applicable. For further details, consult your tax advisor. Tax benefits are subject to change from time to time.

Target Group

For the customers who want to financially protect themselves and their family from the medical and non-medical expenses that are incurred in case Cancer is diagnosed and also save taxes.

• Minor Stage Cancer benefit shall be payable once during the entire life of the policy for Cancer of a particular organ.
• Maximum 4 times Minor Stage Cancer benefit is payable up to a maximum of sum assured, for separate organs, in the entire life of the policy.
• The policy will terminate once the Sum Assured is exhausted.

• Sum Assured shall be highest of the following:

  • 10 times Annualised Premium, or
  • 105% of total premiums paid as on date of claim event, or
  • Maturity Sum Assured which is NIL
  • Absolute amount payable on death which is NIL
  • Sum Assured

Not applicable for a single premium plan.

Lump Sum benefit on diagnosis of Major Stage Cancer is Sum Assured minus Lump Sum benefits paid during Minor Stage Cancer.

Following is the claim procedure for Future Generali Cancer Protect Plan:

• Intimate Future Generali Life Insurance Company on being diagnosed of cancer
• Submit essential documents for thorough verification of their authenticity
• The insurance company notifies you of its decision and then processes the reimbursement accordingly

Documents Required to Claim Future Generali Cancer Protect Plan

The following documents are required to make a claim for Future Generali Cancer Protect Plan

• Claim Form, duly filled up with accurate details and signed by the policyholder
• Proofs of expenses incurred like medical bills, receipts, diagnostic test reports, etc.

Conclusion

The comprehensive coverage provided by Future Generali Cancer Protect Plan ensures that it financially benefits the insured diagnosed with cancer, irrespective of the stage of the illness. You can leave the financial responsibilities to your insurer, so that you can concentrate on physical and psychological wellness.

Reviews of Future Generali Cancer Protect Plan

“When I was diagnosed of early stage cancer, the lump sum benefit available with Future Generali Cancer Protect Plan made me eligible for making four claims during the policy term. I was greatly helpful in funding my chemotherapy sessions. Thank you for the assistance.” – Anil Nainani

“Great service and benefits from Future Generali when I was diagnosed of cancer in its advanced stages. The quick and hassle-free reimbursable of the sum assured was a pleasant surprise.” – Nikhil Malhotra