Future Generali India Life Insurance Company Limited (FGILI), has recently launched ‘Flexi Online Term Insurance Plan, a pure term insurance plan that will be available online only. While most other term plans offer a fixed lump sum as life cover, this plan brings in more variety to death benefit. One, however, has to make a visit to a doctor to undergo medical tests which would be arranged by the insurer. The documents such as income proof and KYC documents will have to be uploaded.
The Flexi Online Term Insurance Plan has 4 different options to choose from.
Option 1- Basic Life Cover: On death within the term of the policy, a lump sum is paid to the nominees. The policy ends thereafter.
Option 2- Fixed Income Protection: Under this option on the death of the insured, instead of a lump sum, a monthly income gets paid to nominee till the time when the insured would have turned 60 or for 10 years whichever is higher. The amount will depend on age, term, sum assured and therefore one may use the calculator on insurer’s website to customize the requirement.