Life Insurance FAQs: Frequently Asked Questions and Answers about the GenialLife Policy

GenialLife can insure only citizens residing or domiciled in Italy, who have an Italian tax code, and are between 18 and 70 years old.

Residency can be proven with a registry certification from the Municipality. Domicile can be proven with copies of contracts or utilities in the insured's name, such as a rental or employment contract, water, electricity, gas, or waste bills not older than three months.

GenialLife covers the risk of death for any cause without territorial limits, with the exception of the exclusion cases clearly stated in the Insurance Conditions, which should be read carefully. These are a few cases, normally excluded by all companies in Italy (e.g., fraud and suicide).

GenialLife insures anyone, regardless of their profession (e.g., military personnel, law enforcement, security guards, firefighters) and high-risk sports activities practiced (e.g., paragliding, underwater activities).

However, since the rate is standard, the risk of death is not covered during certain activities, indicated in Article 7 of the Insurance Conditions.

Specifically:

• practice of the following sports activities: mountaineering with climbs above the third grade of the UIAA scale, free climbing, martial arts in various forms, heavy athletics, base or bungee jumping, river canoeing, downhill, American football, hockey, hydrospeed, scuba diving, kayak, kitesurfing, wrestling in its various forms, parachuting, pilot or passenger of motor vehicles/watercraft in non-purely regular competitions and related tests, boxing, any sport practiced professionally, rafting, rugby, ski jumping or hydro-skiing, acrobatic or extreme skiing/snowboarding or mountaineering, skeleton, speedriding, speleology, aerial sports in general, canyoning, cliff diving, ocean sailing;
• professional practice of the following activities: working on scaffolding or bridges, underground or open sea work, underwater activities in general, activities involving contact with explosive, poisonous, chemical, or electrical materials; exposure to special risks such as fires, presence of wild animals, fights, acrobatics, and similar;
• events occurring during the exercise of professional activities, except for normal office work, for subjects belonging to Armed Forces, Law Enforcement, Firefighters, Civil Protection, security guards.

It is clear that the risk of death is covered even for those practicing these professions if the death occurs within their private life, leisure time, or normal office work.

In special cases, GenialLife may be available for an exception, with or without an additional premium depending on the situation. Proceed as follows:

• save a quote on the website;
• send an email to the address that will be communicated, describing your situation;
• if agreed, GenialLife will prepare and send an appendix that incorporates and regulates the granted exception. At that point, the contract can be correctly stipulated.

The choice of beneficiaries of your life insurance - that is, the people who will receive the capital in case of the insured's death - is an important topic.

If you want to explore this topic further, we invite you to read the page Choosing the beneficiary.

In addition to the death risk coverage, with GenialLife you can complete your protection by activating the additional guarantees:

• Accidental Death
• Gender specific cancer

GenialLife's insurance premium is not averaged over the long term and therefore, compared to fixed capital and premium solutions, costs much less from the first year.

Over time, insurance needs change, and most likely the capital to be insured decreases. The possibility to update the amount year by year allows you to always pay the right amount, even in the face of a natural premium, which adjusts according to age.

Additionally, it should be considered that the average life expectancy of Italians is increasing, as evidenced by ISTAT, the Italian National Institute of Statistics: between 2002 and 2014, it increased by a full 3 years (see graph presented at the World Economic Forum in Davos in January 2016, from Corriere della Sera on 21/1/16).

The trend remains positive in the following years, reaching 2019 with an average life expectancy of 85.3 years for women and 81 for men^[1]

These data directly reflect the cost of life insurance: with the increase in average life expectancy, the costs of policies decrease.

For this reason, insuring oneself today for a long period (5 years, 10 years, or even more) at a fixed premium is not convenient for the customer. Fixed premium rates calculate the average price over several years, and therefore at the beginning, you pay much more: for financial reasons - as well as the loss of the euro's value - paying the natural premium, which grows a little year by year, is more convenient for the customer.

GenialLife is the only insurance in Italy that has systematically adopted this criterion.

Trend in life insurance cost in Italy over time (indicative premiums)

The duration of the GenialLife life policy is flexible: you can renew it up to 20 times, up to 70 years of age, without any obligation. GenialLife is the only life insurance in Italy that does not have a predefined duration, and this is an undeniable advantage for the customer.

With GenialLife you can insure an amount up to €350,000. For more information, we invite you to visit the page The online life policy.

Find out how the renewal of the GenialLife insurance works by visiting the dedicated section.

You can find all the solutions for paying the insurance premium on the page Paying your policy.

Do you need to report a claim and request the settlement of the amount provided in your policy? Discover the procedure described on the page Report a claim.

There are two main forms of life insurance:

• death insurance: the company pays a capital to the beneficiaries in case of the insured's death within the validity period of the contract;
• life insurance (survival): the company pays the insured a capital, sometimes converted into an annuity, at the expiry of the contract.

Additionally, on the market, you can find mixed insurance, which combines the two guarantees in a single policy, but these are less efficient and convenient solutions for the customer compared to purchasing two separate insurances.

GenialLife is a temporary death insurance: for more information on this coverage, visit our page Temporary death and additional guarantees.

GenialLife is exclusively a risk insurance and does not constitute a capital or annuity at maturity. To know if it is a suitable tool for your needs, visit the page Protection for your family and your mortgage.

Anyone can activate multiple policies against the risk of death, even with different companies, each of which will pay its capital in case of death. There is no defined or maximum value for a human life: it is different from the case of insuring a car or a house where there is a maximum value for the asset.

GenialLife does not ask - and for privacy reasons does not want to know - if there are contracts with other companies, so nothing needs to be declared in this regard.

The same insured can stipulate one or more different contracts with GenialLife, for example with different beneficiaries, but the total insured sum cannot exceed the limit of €350,000.

'Fraud' means an attempt to defraud, to commit a crime.

Some typical examples of fraud in life insurance:

• the beneficiary kills the insured to collect the insured sum;
• the insured fakes death by falsifying documents and moves elsewhere, while the beneficiaries in agreement with them collect the insured sum;
• the insured dies in a shootout while committing a robbery or a criminal act.

If fraud by the policyholder/insured or the beneficiary is proven, GenialLife insurance does not pay the capital (see the General Insurance Conditions).

However, if the death occurs during a criminal act, such as a robbery, in which the insured is involved without their responsibility, the insurance will regularly pay the beneficiaries.

The site does not allow calculating the quote if:

• the age is not between 18 and 70 years (rounded to the nearest whole number);
• a fictitious email address is used, or even a real email address from which too many quotes have been requested (try in these cases with a valid different email address);
• the body mass index is too high or too low.

The personalized proposals GenialLife received by email are protected by a password to safeguard the policyholder's personal data. To open the documents, you must enter the policyholder's Tax Code as the password, entered on the site, written entirely in uppercase letters.

Upon completing the data collection of a GenialLife proposal on the website, a Personal Area is created that usually has the Username as the email address. If preferred (or if it already exists) it is possible to change the Username, but only at the time of creating the Personal Area, afterwards it is no longer possible.

If you receive a notice that you need to choose a different Username, it means that that Username is already associated with a different tax code and therefore you need to choose any different name. The Username is often an email address, but it can also be any other sequence of characters, such as a surname or a name.

To log back into your Personal Area, you need to enter the Username and Password. In case of password loss, it is possible to request to regenerate it from the site: as usual, this new password will be sent to the email address associated with the Username.

For regulatory reasons, the Personal Area is individual and cannot contain data of different people, not even if they are related (e.g., husband/wife). However, it is possible for two different Personal Areas, with different Usernames, to refer to the same email address.

If a new proposal is requested, perhaps after a long time, at the time of providing your tax code the existence of a Personal Area will be automatically recognized. To proceed, you can provide the password (or request to regenerate it if forgotten), or create a new Personal Area, but with a new Username that has not already been used.

From the Personal Area, you can perform all necessary operations:

• request new quotes or save new proposals;
• change payment methods on saved proposals;
• pay the insurance premium by credit card;
• upload and download documents;
• send emails to the company.

GenialLife is a product of Allianz Global Life dac, which in turn is part of the Allianz SE group, the leading insurance group in Europe and one of the largest in the world, present in more than 70 countries with over 60 million customers. Allianz Global Life dac operates in Italy under the freedom of establishment regime from the Trieste office of Allianz Spa, reachable by phone at the Allianz SpA toll-free number in Italy 800 686868.

GenialLife operates from the headquarters of Allianz SpA, which was the historical headquarters of Lloyd Adriatico, in Largo Ugo Irneri 1, 34123 Trieste TS.

The name GenialLife was chosen to recall Genialloyd, the leading direct insurance company in Italy authorized in the non-life branches, which changed its brand in 2021 to Allianz Direct, also part of the Allianz Group.

To get in touch with GenialLife:

• journalists in the exercise of their work can write to support@geniallife.is;
• representatives of purchasing groups, communities and/or insurance intermediaries interested in promoting the GenialLife product to their clients or members can write to support@geniallife.is;
• those considering becoming a client or needing individual advice must complete a proposal on our website. Subsequently, they will receive an email with the proposal and the email address to write to for any questions.