FGII Introduces An Exclusive Coronavirus Group Insurance Product in Indian Market

Future Generali India Insurance Company Limited (FGII), the general insurance arm of the joint venture between retail giant Future Group and global insurer Generali, announced the launch of an exclusive Coronavirus group insurance product.The policy will provide a lump sum benefit in case the insured is diagnosed or quarantined for a suspected sign and symptoms/or infection of COVID-19. Amid the contagious pandemic, the product offers cover for everyone from an infant who is 1 day old to a senior citizen upto 75 years of age.

It is afiled group health insurance product as defined by IRDAI guidelines.

Dr.Shreeraj Deshpande, Chief Operating Officer, Future Generali India Insurance said, “It is very important for all of us to come together and protect the citizens against this virus infection. We have designed our corona virus group insurance product in such a way that it will offer maximum help to the affected. If the policyholder is diagnosed with COVID-19 infection and is confirmed by a medical practitioner along with government/ a WHO-approved lab then a lump sum benefit of 100% of Sum Insured would be paid. To provide maximum benefit to our customers, no past medical history or travel record is required while purchasing our product.”

A lump sum benefit of 50% of sum insured will be paid, if the policyholder is required to be quarantined at a Government/Government approved hospital for at least 14 days for a suspected COVID-19 infection. An additional benefit of 10% of the sum insured will be paid to quarantined persons towards incidental expenses.

About Future Generali India Insurance Company Limited

Future Generali India Insurance Company Limited is a joint venture between Future Group – the game changers in Retail Trade in India and Generali – a 189 years old global insurance group featuring among the world’s 60 largest companies*. The Company was incorporated in September 2007 with the objective of providing retail, commercial, personal and rural insurance solutions to individuals and corporates to help them manage and mitigate risks.

Future Generali India has been aptly benefitting from the global Insurance expertise in diverse classes of products of Generali Group and the Indian retail game-changer Future Group. Having firmly established its credentials in this segment and effectively leveraging on the skill set of both its JV partners, Future Generali India has evolved to become a Total Insurance Solutions Company.

*As per Fortune Global 500 Ranking (2017)

*Future Generali India Insurance is certified ‘Great Place to Work’ (December 2019-November 2020)

About Generali Group

Generali is an independent, Italian insurance Group, with a strong international presence. Established in 1831, it is one of the largest global insurance providers present in over 60 countries with total premium income exceeding €68 billion in 2017. With nearly 71,000 employees in the world and 57 million customers, the Group has a leading position in Western Europe and an increasingly significant presence in Central and Eastern Europe as wellas in Asia.