Future Generali Assured Income Plan

The Future Generali Assured Income Plan provides a regular assured income for a long period after the limited premium payment term gets over. With the flexibility to receive this income annually or monthly or even as a lump sum amount, policyholders find that they are spoilt for choice when it comes to managing their finances for their future needs.  The policyholders can rest easy with this plan knowing that not only are their savings are being multiplied and that they will receive a regular income in the future, they will receive an additional benefit of up to 4.5 times the annualized premium. The policy also ensures that the families of the policyholders are taken care of in the unfortunate event of the demise of the policyholder.

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Key Features

  • The policy offers guaranteed income, for premium payment term of 11 / 15 years, the policyholders receive income for the following 11 / 15 years.
  • The policyholder can receive up to 4.5 times the annualized premium as an additional benefit at the time of the last payout.
  • The policyholder ensures the financial security of his or her loved ones, even in the unfortunate event of their demise, as their nominees receive an amount ranging from 17.5 to 34.5 times the annualized premium, as the Death Benefit


  • When the policy matures the policyholder receives the Maturity Benefit as per the following details:
    • For the 11-year policy term, the Maturity Benefit is paid in 11 annual installments of 1.5 times the annualized premium from the end of the 12th year to the 22nd year. An additional benefit that is dependent on the age of the policyholder when the policy was purchased is paid at the end of the 22nd year.
    • For the 15-year policy term, the Maturity Benefit is paid in 15 annual installments of 2 times the annualized premium from the end of the 16th year to the 30th year. An additional benefit that is dependent on the age of the policyholder when the policy was purchased is paid at the end of the 30th year.
      • In the unfortunate event of the demise of the person insured, the nominee receives the Death Benefit. The Death Benefits payable is higher of the following:
      • Ten times the annualized premiums, or 
      • 105% of the total premiums paid, or
      • The Maturity Sum Assured.

For the 11-year policy term, the Death Benefit is received in 11 year annual instalments of 1.5 times the annualized premium. The first installment is paid to the nominee after the settlement of the claim and the remaining 10 installments are paid on the following death anniversaries of the Life Assured. For the 15-year policy term, it is received in 15 annual installments of 2 times your annualised premium. The first instalment is paid to the nominee after the settlement of claim and the remaining 14 instalments are paid on each the following death anniversaries of the Life Assured. Additional benefits are paid along with the last annual installment.

        • Tax benefits are available on the premium paid and Death and Maturity Benefits as per sections 80(C) and 10 (10D) of the Income Tax Act.

 Product Specification:




Entry Age of the Life Assured(Last Birthday)

5 years

50 years

Maturity Age (Last Birthday) of the Life Assured

18 years

65 years

Policy Term (PT) in years

11 years

15 years

Premium Paying Term (PPT) in years

11 years

15 years

Premium Paying Frequency


Annual Premium

For 11 year term: Rs. 35,000 for age 7 to 50 years.


For 15 year term: Rs. 35,000 for age 5 to 44 years,


Rs. 75,000 for age 45 to 50 years


Sum Assured

Multiple of Annualized Premium


Entry Age      11 yrs PT       15 yrs PT

5 to 6                NA                   34.5

7 to 17              21.0                 34.5

18 to 30            20.5                 34.0

31 to 35            20.0                 33.5

36 to 40            19.5                 33.0

41 to 45            19.0                 32.5

46 to 50            17.5                 31.0


Details About Premium


Policy Term

Premium Payment Term

Annual Premium

Sum Assured


11 years

11 years

Rs.35, 000

Rs. 7, 35,000


15 years

15 years

Rs.1,78, 000

Rs. 60, 52,000


11 years

12 years

Rs. 5,00, 000

Rs. 95,00,000


15 years

15 years

Rs.1,00, 00,000

Rs. 31,00,00,000


Policy Details

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 three policy 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 can opt to receive the Maturity Benefit in monthly installments, in which case he or she will receive 2.5% more than the annual installment. The Maturity Benefit can also be received as a lump sum amount at the Maturity Date.
        • After paying at least three full years of premiums if the policyholder is unable to pay any more premiums, he or she receives one full year of auto cover. If premiums remain unpaid during the Auto Cover period, the policy will be converted to a Paid-up policy.

Additional Features or Riders

        • A loan may be taken once the policy acquires surrender value, on the condition that the loan amount does not exceed 85% of the Surrender Value.
        • The revival of a lapsed policy is possible if the policyholder submits a written request for reinstatement within a timeframe of two years from the date of the first unpaid premium.


        • The term insurance cover is void if the person insured, whether sane or insane at the time, commits suicide within one year from the start of the policy cover or reinstatement. The company will refund only 80% of the premiums paid and Surrender Value, as Death Benefit.

Documents Required

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.

*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
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