Future Generali Life Insurance Company Limited is a joint venture between Future Group, a leading Indian Retailer with retail outlets like Pantaloons, Big Bazar etc., and Generali Group which is a global insurance group boasting of being counted among the top 50 companies of the world and Industrial Investment Trust Limited (IITL) which is an investment company.
Save Upto ₹46,800 in tax under Sec 80C
Inbuilt Life Cover
Tax Free Returns Unlike FD
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
The company was incorporated on September 2007 and as on September 2015 the company has total assets under management of the value of Rs.2600 crores. The range of products offered by Future Generali include Protection plans in the form of term plans, Child Plans, Savings and Investment Plans which are available in both conventional or ULIPs form and pension plans. With a wide range of products, the company strives to meet every individual’s insurance related requirement at a single source.
Traditional plans, also called Conventional Insurance Plans are plans where money is invested as per the guidelines laid down in the Insurance Act. The whereabouts of the invested premium is not known to the policyholder. The policyholder is simply promised certain benefits payable on death, maturity or as money back. Traditional Investment Plans have some of the basic features which are mentioned below:
Future Generali Life Insurance Company offers a range of traditional / Investment plans to its customers to meet all their savings and protection related needs. Let us take a look at the different types of traditional / investment plans offered by Future Generali Life and the features and benefits of each of them in details.
A traditional Endowment Assurance plan which has the following features and benefits:
Eligibility Details
|
Minimum |
Maximum |
Entry Age |
3 years |
55 years |
Maturity Age |
18 years |
70 years |
Policy Term |
15-20 years or 25 years |
|
Premium amount |
Rs.12, 000 |
No limit |
Sum Assured |
Rs.1 lakh |
No limit |
Premium Payment Term |
7, 10, 12, 15, 17 or 20 years |
|
Premium Paying Frequency |
Yearly, half-yearly, quarterly or monthly |
A traditional plan which promises triple benefits under a single plan. The features and benefits of the plan are as follows:
Eligibility Details
|
Minimum |
Maximum |
Entry Age |
7 years |
50 years |
Maturity Age |
25 years |
75 years |
Policy Term |
Premium Payment Term + 5 years |
|
Premium amount |
Rs.15, 000 |
No limit |
Sum Assured |
Rs.2 lakhs |
No limit |
Premium Payment Term |
15 or 20 years |
|
Premium Paying Frequency |
Yearly, half-yearly or monthly |
A traditional savings plan which promises annual cash backs after the completion of the Premium Paying Tenure. The features and benefits of the plan are as follows:
Eligibility Details
|
Minimum |
Maximum |
Entry Age |
7 years |
55 years |
Maturity Age |
23 years |
73 years |
Policy Term |
16 and 18 years |
|
Premium amount |
Rs.10, 000 |
No limit |
Sum Assured |
Depending on entry age and tenure |
|
Premium Payment Term |
Policy Term – 16 years – 10 years Policy Term – 18 years – 12 years |
|
Premium Paying Frequency |
Yearly, half-yearly, quarterly or monthly |
An Endowment Assurance plan which has the following features and benefits:
Eligibility Details
|
Minimum |
Maximum |
Entry Age |
7 years |
55 years |
Maturity Age |
18 years |
70 years |
Policy Term |
10 years |
20 years |
Premium amount |
Rs.9, 000 |
No limit |
Sum Assured |
Depending on entry age and tenure |
Rs.5 crores |
Premium Payment Term |
Equal to plan term |
|
Premium Paying Frequency |
Yearly, half-yearly, quarterly or monthly |
A traditional Endowment Assurance plan which provides annual payouts post the plan term. The features and benefits of the plan are as follows:
Eligibility Details
|
Minimum |
Maximum |
Entry Age |
11 year Term - 7 years 15 year Term – 5 years |
50 years |
Maturity Age |
18 years |
65 years |
Policy Term |
11 or 15 years |
|
Premium amount |
Rs.35, 000 |
No limit |
Sum Assured |
17.5 times the annual premium |
No limit |
Premium Payment Term |
Equal to plan term |
|
Premium Paying Frequency |
Yearly |
A traditional money-back plan which promises guaranteed money backs at regular intervals. The features and benefits of the plan are as follows:
Eligibility Details
|
Minimum |
Maximum |
Entry Age |
18 years |
50 years |
Policy Term |
15, 17, 20 or 22 years |
|
Premium amount |
15/17 year term - Rs.18, 000 20/22 year term – Rs.24, 000 |
No limit |
Sum Assured |
Rs.58, 215 |
No limit |
Premium Payment Term |
Policy term – 10 years |
|
Premium Paying Frequency |
Yearly, half-yearly, quarterly or monthly |
A traditional Child Insurance Plan for the financial security of the child’s future. There are three options to receive the maturity benefits under the plan which can be chosen either as money-back payouts under Options A and B or a lump sum payout under Option C. In case of death of the insured during the tenure of the plan, the Death Sum Assured is paid immediately to the nominee which is higher of 10 times the annual premiums or 105% of all premiums paid till the date of death or the chosen Sum Assured. Moreover, 5% of the Sum Assured is paid every year post death and all future premiums are waived off. On maturity, the maturity benefit will be paid as per the Maturity Option chosen by the policyholder
Online
The company offers specific plans which are available online only. The customer only needs to log into the company’s website, choose the required plan, choose the coverage and provide the details. The premium will be determined using the filled details. The customer then needs to pay the premium online through credit card, debit card or net banking facilities and the policy will be issued
Intermediaries
Plans which are not available online can be purchased from agents, brokers, banks, etc. where the intermediaries help with the application process.
This will take you to the insurer’s website. Fill in the necessary details to buy the plan.
To know more about other life insurance plans check at Future Generali Life Insurance
Alternatively, you can check the policy status with an SMS: PS <Policy Number> to 5607003
You can call toll free: 1800-102-2355.
You can deposit the cash before the due date to renew it automatically.
Alternatively, call toll-free to inquire: 1800-102-2355