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Future Generali Claim Settlement Ratio
- CSR of the company
- Claim process
- Consistency of CSR
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Buying a health insurance policy and then the insurer not being able to settle your claims can be quite frustrating. Thus, to avoid such situations, it is important for you to always check the claim settlement ratio of your chosen company. The claim settlement ratio is one of the most useful parameters that showcases the number of claims settled by the company in a financial year. It is an important factor that helps you to evaluate how soon the company will settle the claims in the time of need. Before buying health insurance, one should always check the history of claims settled by that company.
Future Generali, a general insurance company is a joint venture between a leading Indian business conglomerate, the Future Group of Industries and the Generali group, one of the leading Italy based companies. The company started its operations in September 2007. Future Generali Claim Settlement Ratio plays an important part while choosing a health insurance company for coverage.
Claim Settlement Ratio of Future Generali Health Insurance Company
Insurance Regulatory and Development Authority of India (IRDAI) publishes the CSR of all the insurance companies in their annual reports through which one can easily check and compare the CSR of the preferred and all the other insurance companies.
As per IRDA Annual Report of 2021-22, the Future Generali claim settlement ratio is 96.01%. Which is considered more reliable and shows the ability of the company to settle claims for its customers.
Types of Claims offered by Future Generali Health Insurance Company
In this section we will discuss the types of claims and process of filing the claims. There are two types of health insurance claims you can choose from:
- Cashless Claims
- Reimbursem*nt Claims
What Are Cashless Claims?
Cashless claims in health insurance is a mode of claim settlement where the policy holder does not have to pay cash for treatment and the settlement of the bills is taken care of directly between the hospital and the insurance company. Future Generali cashless claim settlement helps in paying off the hospital bill instantly, upfront. Cashless claims are gaining popularity every day, and more and more people getting health insurance policies are availing this feature for the comfort it offers.
Health Insurance Claim Settlement Ratio
Here’s How You Can File Your Cashless Claims Online
Step 1: Find the network hospitals of Future Generali Health Insurance and get admitted to only those hospitals that fall into the network of your insurer
Step 2: Now, notify Future Generali Health Insurance Company about the hospitalization. In case of pre hospitalization inform the insurer about the hospitalization prior to getting admitted.
Step 3: The customer needs to fill the pre-authorization form and submit it to the hospital. The pre-authorization form is then sent for approval to Future Generali Health Insurance Company. Once the form is approved, the customer can avail the medical treatment.
Step 4: At the time of discharge fill in all the medical documents and pay for the services that are not covered under the policy.
Step 5: The hospital will send the hospital bills to Future Generali Health Insurance Company. After review the company will pay the bill directly to the hospital.
Future Generali has a simple, app-based claim process to make your experience hassle-free. You can contact the company for a claim, submit your documents, and check your claim status easily on their ‘FG Insure’ app.
Status of Future Generali Health Insurance Claim Settlement Ratio - 2021-22
| Financial Year 2021-22 | ||||||
| Age Analysis of Number of Claims Paid (%) | < 3 months | 3 months to 6 months | 6 months to <1 year | 1 year to <3 year | 3 years to <5 years | 5 years |
| Claims Settled | 96.01 | 2.05 | 0.89 | 0.59 | 0.22 | 0.24 |
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What Are Reimbursem*nt Claims?
In this type of claim, you can visit any hospital, not just those under your insurer’s cashless network. Here, you get your treatment done at the hospital, pay out of your pocket, and then apply for a reimbursem*nt for the expenses with your insurer. At the time of making the claim, the customer needs to submit all hospital bills, prescriptions, and medical documents. These will need to be approved by Future Generali Health Insurance Company before the claim is processed, meaning that it can take slightly more time to get through.
Here’s How You Can File Your Reimbursem*nt Claims online
Step 1: You need to call Future Generali Health Insurance within two days of your admission date. Post company’s call, they send you a link where you can upload the soft copies of all original documents (bills, reports, etc) and bank details of your desired bank account.
Step 2: Before uploading, you need to sign all the documents yourself.
Step 3: Upload the documents maximum within 30 days from the date of discharge or when you receive the link.
Step 4:You will receive the payment within 30 days from the receipt of the last necessary claim document.
Future Generali Health Insurance provides a 15-day grace period for reimbursem*nt claims. If the documents have not reached the company post this grace period due to an inadvertent delay, you can contact the company with the explanation for the same and resend/re-upload the documents.
Future Generali Health Insurance Network Hospital List
With the benefit of cashless facility, you do not need to spend money on your treatment, as all expenses will be paid by the insurer itself. Future Generali has tie-up with more than 6300+ hospitals, which are known as You can go to a network hospital, get your treatment done and the insurer will settle the bill directly at the hospital.
Why Is the Claim Settlement Ratio so Consistent ?
To simply put, regardless of whether an individual buys a term insurance plan or a life insurance plan, etc. claim settlement ratio of the insurance company is important. Besides, the consistency of the claim settlement ratio holds utmost significant importance. While selecting the insurance company, it is advisable to look for the claim settlement ratio of the companies in the recent five years.No wonder the rule is simple: smaller is the range of the CSR, reliable and better is the insurance company. For instance, the insurance company with a ratio in the range of 90% to 96% is more reliable compared to a company with the CSR in the range of 75% to 93%.
Future Generali Health Insurance Plans
Future Generali Health Insurance offers various health products to cater to the healthcare needs of every individual. At present, Future Generali has come up with 13 health insurance plans. Have a look at the table below to get an insight into the types of plans offered.
Future Generali Advantage Top-Up
The plan acts as a top-up to your existing health insurance cover & supplements your existing health insurance when your basic health insurance cover is exhausted.
Unique Benefits
- 2 variants to choose from
- Cancer and heart issues covered
- Daycare treatments covered
Advantage Top-Up (Pros)
- Family Discount
- Loyalty Discount
- Floater Benefit
- Easy Portability
- Long Term Discount
Advantage Top-Up (Cons)
- No War Injury Cover
- No Cosmetic Surgeries
- No Self-inflicted Injury
- No Fertility-related Illnesses
- No Obesity Treatment Cover
Advantage Top-Up (Other Benefits)
- ICU Expenses
- Specialist Fees
- No Loading
- Consultancy Cover
- Operation Charges
Advantage Top-Up (Eligibility Criteria)
- Entry Age - 1 Day
- Max Entry Age - Lifelong
- SI - 50 K to 1 Cr
- Waiting Period - 30 Days
Future Generali Aarogya Bima
An extensive strategy that includes gay and bisexual individuals.This plan covers hospitalisation for both the live-in partner and the spouse.
Unique Features
- Lifelong renewals
- SI on Family Basis
- Daycare treatments covered
Aarogya Bima (Pros)
- 5% Long Term Discount
- Hospitalization Benefit
- Death Cover
- Loss Of Speech Cover
- Deafness Cover
Aarogya Bima (Cons)
- 10 % Copay
- No Hazardous Sports Cover
- No War Injury
- No Non-Allopathic Cover
- Cosmetic Surgery unavailable
Aarogya Bima (Other Benefits)
- 5% Family Discount
- Kidney Failure Cover
- Open Heart Surgery Cover
- Brain Tumor Cover
- Cancer Cover
Aarogya Bima (Eligibility Criteria)
- Entry Age - 18 Years
- Max Entry Age - 65 Years
- SI - 2 L to 5 L
- Waiting Period - 30 Days
Future Generali Arogya Sanjeevani
A health insurance plan that offers standard benefits as directed by the IRDAI. The plan offers coverage up to INR 10 Lakhs.
Unique Features
- Cataract Treatments covered
- Coverage for Modern Treatments
- Avail up to 50% increase in SI
Arogya Sanjeevani (Pros)
- Day Care Procedures
- Inpatient Care
- Plastic Surgery Due to Injury
- Dental Cover
- AYUSH Cover
Arogya Sanjeevani (Cons)
- 4-Year WP For Joint Replacement
- No Diabetics 2 Cover
- No War Injury
- 2 Year WP For Cataract
- Cosmetic Surgery unavailable
Arogya Sanjeevani (Other Benefits)
- Cataract Cover
- Post Hospitalization
- Pre Hospitalization
- Oral chemotherapy Cover
- Stem cell therapy Cover
Arogya Sanjeevani (Eligibility Criteria)
- Entry Age - 18 Years
- Max Entry Age - 65 Years
- SI -NA
- Waiting Period - 30 Days
Future Generali Critical Illness
A specialized cover designed to offer protection against 12 listed critical illnesses such as cancer, kidney failure, severe heart attack, total blindness and many more.
Unique Features
- Lump sum payout on diagnosis
- Floater Benefit available
- Coverage up to 50L
Critical Illness (Pros)
- Kidney Failure Cover
- Liver Failure Cover
- First Heart Attack Cover
- Total Blindness Cover
- Spouse Cover
Critical Illness (Cons)
- No Birth Control Cover
- No Hormone Replacement Cover
- No War Injury
- No Gender Change Cover
- Cosmetic Surgery unavailable
Critical Illness (Other Benefits)
- Family Floater Discount
- Coma Cover
- Open Chest Cover
- Cancer Cover
- Ambulance Cover
Critical Illness (Eligibility Criteria)
- Entry Age - 18 Years
- Max Entry Age - 65 Years
- SI - 1 L to 50 L
- Waiting Period - 30 Days
Health Super Saver comes with 2 plan options offering a 80% discount under the Super Saver Discount option**.
Unique Features
- Home Health Care Services
- Organ Donor Expenses
- Daycare treatments
Health Super Saver (Pros)
- Impatient Treatment Cover
- Daycare Treatment Cover
- Alternative Treatment Expenses
- Maternity Benefits
- Organ Donor Benefit
Health Super Saver (Cons)
- Domiciliary Treatment
- Alcoholism Unavailable
- Hazardous Activity not covered
- Vaccination not covered
- Cosmetic Surgery unavailable
Health Super Saver (Other Benefits)
- Floater Benefit
- Easy Portability
- 10% Discount for Family Members
- 80% No Claim Bonus
- 100% Medical Reimbursem*nt
Health Super Saver (Eligibility Criteria)
- Entry Age - 18 Years
- Max Entry Age - 70 Years
- SI - 3 L to 50 L
- Waiting Period - 30 Days
Future Generali Health Suraksha Insurance
From simple daycare treatment to major operations, the plan comes out with various benefits to deal with the multiple needs of the policyholder.
Unique Features
- Cumulative Bonus up to 50%
- Flexible 4 plan variants
- Compassionate benefit
Health Suraksha Insurance (Pros)
- Hospitalization Expenses
- Free Medical Checkup
- Organ Donor Expenses
- Loyalty Discount
- Recharge of SI
Health Suraksha Insurance (Cons)
- No Organ Transplantation Cover
- Infertility Cover Unavailable
- No STD covered
- No Maternity Cover
- Cosmetic Surgery unavailable
Health Suraksha Insurance (Other Benefits)
- Renewal Benefits
- Cataract Treatment Cover
- Ambulance Cover
- Inpatient Treatment Cover
- Free Medical Checkup
Health Suraksha Insurance (Eligibility Criteria)
- Entry Age -90 Days
- Max Entry Age - 70 Years
- SI - 50 Thousand To 10 L
- Waiting Period - 30 Days
Future Generali Vector Care
Provides a lump sum benefit in the case the policyholder is diagnosed with Malaria, Dengue, Lymphatic Filariasis, Kala-azar etc.
Unique Features
- 100% restoration of SI
- No medical check-up
- Discounts available
A comprehensive health insurance plan that provides coverage against medical expenses. Moreover, the plan also looks after your overall well-being.
Unique Features
- Coverage for Mental Illness
- E-opinion for illness or injury
- Maternity Expenses covered
Health Total Policy (Pros)
- Consultation Cover
- Newborn Baby Cover
- Organ Donor Cover
- Cumulative Bonus
- 15 Family Member Cover
Health Total Policy (Cons)
- Congenital diseases
- Illness Due To Alcohol
- Sex Change Treatment
- Hormone Replacement Therapy
- No Obesity Treatment Cover
Health Total Policy (Other Benefits)
- Dental Consultations
- Out-Patientt Treatment
- Wellness Care
- Medication Cover
- OPD Cover
Health Total Policy (Eligibility Criteria)
- Entry Age - 18 Years
- Max Entry Age - 65 Years
- SI - NA
- Waiting Period - 30 Days
Future Generali Hospital Cash
The plan provides a daily hospital cash covering incidental expenses to both the insured and their family members.
Unique Features
- Avail ICU outside your city
- Additional convalescence benefit
- No previous Mediclaim required
Hospital Cash (Pros)
- ICU Benefit In Your City
- Recovery Benefit
- 10 Days ICU Benefit
- Convalescence Benefit
- Lifelong Renewal
Hospital Cash (Cons)
- No Non-allopathic Treatment
- No Cosmetic Surgeries
- No Self-inflicted Injury
- No Fertility-related Illnesses
- No Obesity Treatment Cover
Hospital Cash (Other Benefits)
- Daily Hospital Cash
- Tax Benefit
- No Loading
- Easy Portability
- Spouse Cover
Hospital Cash (Eligibility Criteria)
- Entry Age - 6 Months
- Max Entry Age - 65 Years
- SI - NA
- Waiting Period - 30 Days
Future Generali Personal Accident
The plan comes with 13 add-on covers and provides coverage against accidents.
Unique Features
- Child Education support
- No pre-medical test required
- Repatriation & Funeral Benefits
Personal Accident (Pros)
- Permanent Total Disability
- 10% Family Discount
- Easy portability
- 14 Days Claim Settlement
- Accident Death Cover
Personal Accident (Cons)
- Domiciliary Treatment
- Alcoholism Unavailable
- Hazardous Activity not covered
- Vaccination not covered
- Cosmetic Surgery unavailable
Personal Accident (Other Benefits)
- Permanent Partial Disability
- Temporary Total Disability
- Accidental Hospitalization Cover
- Adaptation Allowance
- Adventure Sports Benefit
Personal Accident (Eligibility Criteria)
- Entry Age - 18 Years
- Max Entry Age - 70 Years
- SI - 3 L to 50 L
- Waiting Period - 30 Days
Future Generali Suraksh*t Loan Bima
Designed for loan borrowers & offers protection against the difficulties one may face during loan repayment due to accident, or in case of critical illness.
Unique Features
- Coverage against 18 critical illness
- 5 plan options to choose from
- No Survival Period required
Suraksh*t Loan Bima (Pros)
- Loss Of Job Cover
- Total Disablement Cover
- Death Cover
- Loss Of Speech Cover
- Deafness Cover
Suraksh*t Loan Bima (Cons)
- No Pregnancy Cover
- No Hazardous Sports Cover
- No War Injury
- No Non-Allopathic Cover
- Cosmetic Surgery unavailable
Suraksh*t Loan Bima (Other Benefits)
- Medical Test Above 50
- Kidney Failure Cover
- Open Heart Surgery Cover
- Brain Tumor Cover
- Cancer Cover
Suraksh*t Loan Bima (Eligibility Criteria)
- Entry Age - 18 Years
- Max Entry Age - 65 Years
- SI - 10 Thousand to 3 Cr
- Waiting Period - 30 Days
Future Generali Varishta Bima
Specially designed for senior citizens and is available on an individual and family floater basis which includes the insured and their spouse. SI goes up to 10 lacs.
Unique Features
- Avail Road Ambulance
- Free medical check-up available
- Advance Treatments covered
Varishta Bima (Pros)
- Affordable Premium
- Daycare Treatment Cover
- Cataract Surgery
- Tax Benefit
- Knee Replacement Cover
Varishta Bima (Cons)
- 50% CoPayment On PED
- Alcoholism Unavailable
- No Dental Cover
- 10% Copay On Hospitalization
- Cosmetic Surgery unavailable
Varishta Bima (Other Benefits)
- Ambulance Charge
- Free Annual Medical Checkup
- 10% Long Term Discount
- 10% Family Discount
- Spouse Cover
Varishta Bima (Eligibility Criteria)
- Entry Age - 60 Years
- Max Entry Age - LifeLong
- SI - 2 L to 10 L
- Waiting Period - 30 Days
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Future Generali Claim Settlement Ratio: FAQs
1. How to Avoid Rejection of Claims?
To enjoy the benefits of the insurance policy and not face a claim rejection, the policyholder should take some important steps. The following are the steps that should be followed to avoid claim rejection:
- To begin with, the policyholder should disclose all the information to the insurance company. Specifically, smoking habits and medical conditions do not give any false information; however, assessing the risk will vary from insurer to insurer. In case an individual is an avid smoker or has a critical ailment that was not disclosed earlier and the insurance company gets to know about it at the time of claim chances are that it could get rejected.
- When purchasing the insurance plan, it is highly recommended that the policyholder should fill the form themselves. Do not let an agent fill the form as chances are that the agent might miss out on some important information.
- During the free-look period, the policyholder should check the policy wordings and carefully examine the terms and conditions. In case, the policyholder is not satisfied with any clause, then the policy can be returned to the insurance company for a refund.
- As soon as the policyholder buys the policy, the first person to be informed is the nominee. In case there is a need that the nominee needs to raise the claim the person needs to be aware of it. The timely claim filing is important as that would ease the claim settlement process.
2. Why should you consider a claim settlement ratio when buying a term plan?
The loss of the breadwinner of the family causes severe emotional and financial turmoil. However, a Future Generali Insurance Plan can reduce your worries and burden. While there are so many things to consider when buying a life insurance policy, the claim settlement ratio of the insurance company should be one of the key factors amongst them.
Future Generali Health Insurance Reviews
Read what our customers have to say about Future Generali health insurance company
Bhavika Arora
Allahabad
March 18, 2024
I was looking for a term insurance plan online, then I landed on the PolicyX website, where I chose Future Generali Life Insurance plan. Their customer service team has supported me well.
Karan Lamba
Mumbai
March 15, 2024
I am a fitness freak, so my health insurance needed to come with loads of fitness-related benefits. The Future Generali Health Absolute was the best fit. Thanks PolicyX for this great recommend...
Vishwa Rao
Hyderabad
May 31, 2022
One of the best health insurance companies available in India. In March 2021, my wife was diagnosed with Covid-19, and the company settled all my claims. Thank you Future Generali for helping a...
nimrat sondhi
Ludhiana
March 14, 2022
my father is a single parent. The way he has taken care of me during my childhood, I wanted to support him after my marriage so that he is never alone, especially during medical emergencies. I ...
Somyak Handa
Pune
October 12, 2021
It has been an honour being with Furture generali for almost 10 years now...never goes back on their words. You can trust them to settle claims when in need
mangni Ram
Ahmedabad
October 12, 2021
Very amazing plans and helpful customer care service offered by Future Generali Insurance. I am impressed by the way this company works.
Sriparna Das
Dehradun
August 31, 2021
got recommended this company by a friend. Very pleased to have associated with them. Got my bills settled quickly after my husband was hospitalzed recently! Thanks a bunch
Happy Singh
Gurgaon
August 11, 2021
Best company with best services. Also, the team of policyx helped me very much. I will definitily tell my friends to buy this company policy
Reviewed By : Naval Goel
Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.
