The Future Generali Assure Plus plan is a traditional endowment plan with limited premium payment terms. With its range of policy terms and premium payment terms, policyholders have a varied choice on how to manage their savings according to what suits their financial needs. Policyholders can plan their savings and provide for their loved ones even in their absence.
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Minimum |
Maximum |
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Entry Age of the Life Assured(Last Birthday) |
3years |
55 years |
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Maturity Age (Last Birthday) of the Life Assured |
18 years |
70 years |
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Policy Term (PT) in years |
15 years |
25 years |
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Premium Paying Term (PPT) in years |
For PT of 15 yrs = 7 / 10 / 12 yrs PPT For PT of 20 yrs = 10 / 12 / 15 / 17 yrs PPT For PT of 25 yrs = 12 / 15 / 17 / 20 yrs PPT |
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Premium Paying Frequency |
Yearly, Half-yearly, Quarterly, Monthly |
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Annual Premium |
Rs. 12000 |
Depends on Sum Assured |
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Sum Assured |
Rs. 1 lakh |
Rs. 5 crore |
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Age |
Policy Term |
Premium Payment Term |
Annual Premium |
Sum Assured |
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10 years |
20 years |
15 years |
Rs.25, 984 |
Rs. 200,000 |
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18 years |
25 years |
20 years |
Rs.15,042 |
Rs.300,000 |
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30 years |
15 years |
7 years |
Rs. 64,13,000 |
Rs. 5, 00,00,000 |
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50 years |
15 years |
15 years |
Rs. 3,99,280 |
Rs. 40,00,000 |
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55 years |
15 years |
12 years |
Rs 40,93,6500 |
Rs.4,50, 00,000 |
Grace Period: There is a limited timeframe of 30 days from the due date of the unpaid premium to pay all dues, without interest. For premium payments through monthly mode, the Grace Period is 15 days. If premiums remain unpaid at the end of the Grace Period, the policy lapses from the due date of the first unpaid premium.
Policy Termination or Surrender Benefit: Surrender Value of the policy is acquired when the policyholder pays all due premiums for the first two years for a premium payment term of less than ten years; and for the first three years for a premium payment term of over ten years. Termination of the policy occurs on payment of the Surrender Value or the Death Benefit or Maturity Benefit.
Free Look Period: Policyholders have a limited free look period of 15 days from the date of receiving policy documents to review the policy. This timeframe is extended to thirty days if the policy was sold via distance marketing. If the policyholder does not wish to continue with the policy, then he or she has to return the policy stating their objections. The customer will receive the policy premium minus a proportionate premium for the risk borne by the company, including as any extra expenses, such as towards a medical examination or stamp duty charges.
The policyholder has to fill up an ‘Application form’ with identity proof, bank account proof, address proof and a recent photograph. Select cases may require income proof and a medical examination.
