Future Generali Assured Education Plan

The Future Generali Assured Education Plan is a unique insurance-based savings plan designed to secure your child's education. This plan offers guaranteed payouts at crucial milestones in your child's academic journey, ensuring you have the financial resources to support their education.

Read more
Investing in your child's future:A wise decision & a loving choice
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

In-built life cover
Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr Tax Free*

+91
Secure
We don’t spam
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs
Get Updates on WhatsApp
We are rated~
rating
58.9 Million
Registered Consumer
51
Insurance Partners
26.4 Million
Policies Sold

What is a Future Generali Assured Education Plan?

Future Generali Assured Education Plan is an individual, non-linked, non-participating child education insurance plan offered by Future Generali India Life Insurance. It is designed to help you save money systematically for your child's education milestones, such as graduation or post-graduation college fees.

Features of Future Generali Assured Education Plan

  • Systematic Savings for Education: This plan allows you to save regularly until your child reaches the age of 17, providing financial security for their graduation or post-graduation college fees.

  • Flexible Payout Options: Choose from three different payout options based on your child's education milestones. This ensures that you receive the funds when you need them most.

  • Education Security in Case of Adversity: Even in the unfortunate event of your death, the plan ensures your child's education is covered, giving you peace of mind.

  • Additional Protection with Riders: Enhance your plan by adding optional riders. These cover you against accidental death or accidental total and permanent disability, providing extra security for your family.

  • Tax Benefits: Tax advantages on premium paid and maturity amount under Section 80C and Section 10(10D) of the Income Tax Act, 1961. This offers you an added incentive to invest in your child's future.

People also read: Future Generali Life Child Plan

Eligibility Criteria of Future Generali Assured Education Plan

Eligibility Criteria Details
Entry Age Child: 0 -10 years;
Parent: 21 – 50 years
Maturity Age 35 – 67 years
Policy Term (PT)  17 years – (minus) Child's Entry Age
Premium Payment Term (PPT) Same as PT
Premium Payment Mode Annually/ Monthly
Minimum Premium Amount
  • Rs. 20,000 per annum, OR
  • Rs. 2,000 per month
Payout Options Child's Age Option A Option B Option C
17 Years 40% of SA* 10% of SA 100% of SA
18 Years 30% of SA 10% of SA NIL
19 Years 20% of SA 10% of SA NIL
20 Years 10% of SA 70% of SA NIL

*SA: Sum Assured

Investment Investment
Secure Secure
Child Banner
Secure your child’s future with or without you
Start Investing
₹10,000/Month
& Get
₹1 Crore*
*Standard T & C Apply

Benefits of Future Generali Assured Education Plan

  • Guaranteed Payouts: Secure your child's higher education with assured payouts specifically designed for admission and tuition fees.

  • Flexible Maturity Payout Options: Choose from three payout plans (A, B, C) that align with your child's education milestones.

  • Education Protection: If you pass away, your child's education is still covered with these guaranteed benefits:

    • All future premiums are waived.

    • An immediate lump-sum payment to cover immediate family needs.

    • 5% of the Sum Assured, paid annually on the anniversary of your passing until your child turns 17, to cover school fees.

    • The full Maturity Benefit was paid as planned when the policy was purchased.

  • Payment Mode Changes: You can change your payment method for valid reasons, subject to company policy.

  • Loan Availability: Take out a loan once the policy has a Surrender Value up to 85% of the Surrender Value.

  • Potential Tax Relief: Premiums might qualify for tax benefits under Sections 80C, 80CCC(1), 80D, and 10.10D. 

  • Discount for Large Policies: Receive a discount if you choose a higher Sum Assured for your policy.

People also read: Child Education Plan

Rider Options in Future Generali Assured Education Plan

To ensure financial protection for you and your family in case of accidental disability or death, Future Generali Assured Education Plan offers additional insurance options called Riders. 

There are three Rider choices to boost your insurance coverage:

  • Accidental Death Rider: This rider pays an additional sum assured to your family in case of your accidental death.

  • Accidental Total and Permanent Disability Rider: This rider provides a financial payout in case you are diagnosed with accidental total and permanent disability.

  • Accidental Benefit Rider: Details about this specific rider are not available online. It is advisable to consult the product brochure or contact Future Generali directly for more information on its benefits.

NOTE:

  • The cost of health-related or critical illness Riders cannot be more than 100% of the basic policy's premium.

  • Premiums for all other types of life insurance Riders combined must not exceed 30% of the basic policy's premium.

  • The maximum payout from each rider should not be more than the sum assured in the basic policy.

Invest More Get More
Invest ₹10K/Month YOU GET ₹1 Crores* For Your Child View Plans
Invest ₹8K/Month YOU GET ₹80 Lakhs* For Your Child View Plans
Invest ₹5K/Month YOU GET ₹50 Lakhs* For Your Child View Plans
Standard T&C Apply *

People also read: Child Investment Plans

Policy Details of Future Generali Assured Education Plan

  • Free-Look Period: Return the policy within 15 days (30 days for distance marketing) if you are not satisfied. Refunds will be given minus certain costs.

  • Grace Period: You have 30 days (annual) or 15 days (monthly) to pay a missed premium, during which coverage continues.

  • Lapsed Policy (First 2 Years): If you miss a premium and do not pay within the grace period, the policy lapses, and coverage ends. You can revive the policy within 2 years by paying the missed premiums with interest.

  • Paid-Up Policy (After 2 Years): If you miss premiums after the first 2 years, the policy becomes "paid-up" with reduced benefits.

    • Death Benefit includes a reduced sum assured for the nominee, plus 5% of the paid-up sum on each death anniversary.

    • You can revive the policy or surrender it for a cash value.

  • Surrender Value: After paying premiums for at least the first 2 years, you can surrender the policy for a cash value.

  • Nomination and Assignment: You can name a nominee or assign the policy to someone else, following the Insurance Act 1938.

People also read: Government Schemes for Girl Child

How Does the Future Generali Assured Education Plan Work?

Step 1: Start by estimating the amount of money you will need for your child's college education, whether for graduation or post-graduation.

Step 2: Select any additional insurance coverage (riders) that you think will be beneficial.

Step 3: Meet with the Policybazaar advisors to calculate the premium you will need to pay based on your selections.

Step 4: Once enrolled, you can rest assured that you will have guaranteed payouts to cover your child's education costs.

Suicide Exclusion Criteria in Future Generali Assured Education Plan

The Future Generali Assured Education Plan has a suicide exclusion clause that applies to the first twelve months from the policy's start date or revival. This means that if the life assured (the person insured) dies by suicide within this period, the nominee (beneficiary) will receive a limited payout instead of the full death benefit.

Following is the breakdown of the payout under the suicide exclusion:

  • 80% of the total premiums paid till the date of death or

  • The surrender value is available on the date of death, whichever is higher.

In simpler terms, the beneficiary will get either a portion of the paid premiums or the policy's cash value at the time of death, whichever is greater. They will not receive the full death benefit amount as they would in case of death from natural causes or accident.

FAQs

  • What is the Future Generali Assured Education Plan?

    Future Generali Assured Education Plan helps you save systematically for your child's education until they turn 17. It guarantees payouts at different milestones for graduation or post-graduation fees.
  • What are the benefits of a Future Generali Assured Education Plan?

    The key benefits of investing in the Future Generali Assured Education Plan are listed below:
    • Guaranteed payouts: Choose from three payout options to receive money when it is needed for education expenses.

    • Maturity benefit: Receive a lump sum amount on policy maturity.

    • Death benefit: Protects your child's education even if you pass away. The plan pays a guaranteed sum assured to your nominee.

    • Optional riders: Add riders for accidental death and disability benefits for additional coverage.

  • What is the policy term of the Future Generali Assured Education Plan?

    The policy term of the Future Generali Assured Education Plan is a minimum of 7 years (if the child's age is 10 years) and a maximum of 17 years (for a newborn child).
  • How much can I be insured for?

    You can choose the sum assured amount according to your budget while purchasing the Future Generali Assured Education Plan.
  • How often do I need to pay premiums?

    Premiums for purchasing the Future Generali Assured Education Plan can be paid annually or monthly.
  • Are there any restrictions on premium payment?

    Yes, there are limitations on the premium amount for riders. The total premium for health-related riders cannot exceed 100% of the base plan premium, and all other riders combined cannot exceed 30% of the base plan premium.
  • What happens if I stop paying premiums?

    The policy may lapse if premiums are not paid. Future Generali offers options like a reduced paid-up plan or surrender value depending on the policy conditions at the time.
  • Can I surrender the policy?

    Yes, you can surrender the policy after it acquires a surrender value. You will receive a higher special surrender value or guaranteed surrender value.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.

Child Plan

Investment

Child Plan

Secure

Secure your Child’s
Career Goal
Start Investing ₹10,000/Month
& Get ₹1 Crore*
*Standard T & C Apply
Insurers Offering Child Plans

Tata AIA

Aditya Birla Sun Life

Bajaj Allianz

Max Life

HDFC Life

ICICI Prudential

Bharti AXA Life

Edelweiss Life

Kotak Life

PNB MetLife

SBI Life

Aviva

Bandhan Life

Canara HSBC

IDBI Federal

IndiaFirst

Pramerica Life

Reliance Life

Sahara Life

Shriram Life

Star Union

View more insurers
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Child Plan 2
Average Rating
(Based on 26 Reviews)

Child plans articles

Recent Articles
Popular Articles
Vahli Dikri Yojana

18 Jul 2024

The Vahli Dikri Yojana, launched in Gujarat, India, aims to
Read more
Janani Suraksha Yojana

17 Jun 2024

The Janani Suraksha Yojana (JSY), launched in 2005, is a program
Read more
Sukanya Samriddhi Yojana Online Payment

10 Jun 2024

The Sukanya Samriddhi Yojana (SSY) is a government-backed
Read more
Sukanya Samriddhi Yojana Passbook Online

07 Jun 2024

The Sukanya Samriddhi Yojana (SSY) is a government scheme in
Read more
Pradhan Mantri Matru Vandana Yojana

06 Jun 2024

The Pradhan Mantri Matru Vandana Yojana (PMMVY), launched in
Read more
Top 12 Government Schemes for Girl Child
  • 29 Apr 2022
  • 20781
Top 12 Government Schemes for Girl Child Government schemes for the girl child are a vital aspect of social welfare
Read more
Prime Minister Schemes For Boy Child
  • 05 Apr 2022
  • 17040
The Prime Minister Schemes for Boy Child stand as an important initiative aimed at nurturing the boy child and
Read more
How to Check Post Office Sukanya Samriddhi Yojana Account Balance
  • 09 Jul 2021
  • 20300
The Sukanya Samriddhi Yojana is a savings scheme launched in the year 2015 by Prime Minister Narendra Modi under
Read more
Chief Minister Ladli Behna Yojana
  • 25 Sep 2023
  • 4381
The Ladli Behna Yojana is a Madhya Pradesh government initiative aimed at empowering women through financial
Read more
Best Child Investment Plans to Invest in 2024
  • 19 Feb 2016
  • 320458
Planning for the child’s secured future is not an easy task. Most of the people try to create a strong financial
Read more

Future Generali Child Plans Reviews & Ratings

4 / 5 (Based on 26 Reviews)
(Showing Newest 10 reviews)
Anumeha
Mundrajore, March 10, 2021
Tax benefits
I have got the tax benefits when I bought the future generali child insurance plan. It is really great. I am thankful to team.
Vishesh
Atmakur, March 09, 2021
Beneficial plan
It is good to know about different plans for different needs. I get to know about the child plan into the website of the policybazaar. It was the future generali child plan which I got 1 month back. It is one of the beneficial plan. Thanks team.
Hans
Ludhiana, August 22, 2016
Totally Safe Policy
Fully satisfaction i get from your service and policy benefits. Premium are not high which i can i afford and it payed quarterly. Claims are high and coverage is very good. The procedure of sanctioning the claims is very simple because of quick service facilitated by you. Thank you for this nice child insurance policy.
Purshotam
Chaksu, July 19, 2016
Easy Returns
Future generali life insurance is the best insurer, i have child insurance plan. The policy have maximum benefits and it covers maximum expenditures for the policy owner. Service is perfect and the website of the company is very simple to access.
Manan
Kashipur, July 08, 2016
Child Plan
The child insurance which i purchase for my child is very nice with low premiums. The investment is less and the returns are high. Policy coverage is high and claims are easily sanctioned due to fast service facilitate by the company staff.
Devesh
Ahmedabad, June 28, 2016
Good
My child insurance policy plan for my child is the best insurance in less premiums. Service is good and the payback amount is fantastic which sanctioned after policy get mature. Policy coverage is good, claims are high. Internet service is nice which make's hassle free documentations. Good future investment.
Chirag
Bangalore, June 07, 2016
Fantastic Policy
I have child policy for my children from future generali India life insurance. The plan has low premiums and high returns. The policy coverage is high ~90% and the claim is high. Service is also nice with good and on time availability. Nice future investment and it saves taxes too. Daily updates about policy plan is mailed to my email address regularly. Good policy, I like the insurance plan.
Vishal
Nilgiris, June 07, 2016
Great Deal
Recently I bought a child insurance for my child from future generali India life insurance. The policy having great benefits with low premiums. The policy coverage is really good and the service is fast and on time. The claims are the best among all. Good future investment and it save taxes too.
Bhavya
Pilani, June 07, 2016
Fully Updated Plan
I buy future generali life child plan which has very good policy coverage ~ 91%. The service is also good, fast and on time. The claims are high and claiming process is easy because the executive and staff members providing good, responsive and quick services. Updates are send to me daily.
Naveen
Dholpur, June 07, 2016
Very Good Policy
Superb child plan which provided by future generali India life insurance. The policy coverage is 84% and the claims are high. The investment is low and payed quarterly per year till policy end. Service is great and fast too which facilitate by the executives and staff members. I like the policy plan.
top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL