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.

Read more
Best Investment Plans
  • Save Upto ₹46,800 in tax under Sec 80C

  • Inbuilt Life Cover

  • Tax Free Returns Unlike FD+

Buy Online & Get upto 4% extra#
Get Guaranteed returns along with life cover
invest in 100% Guaranteed Return Plans Tax benefits under sec 80C & No Tax on returns*
+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

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

Benefits.

  • 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:

 

Minimum

Maximum

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

Yearly

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

Age

Policy Term

Premium Payment Term

Annual Premium

Sum Assured

10

11 years

11 years

Rs.35, 000

Rs. 7, 35,000

25

15 years

15 years

Rs.1,78, 000

Rs. 60, 52,000

42

11 years

12 years

Rs. 5,00, 000

Rs. 95,00,000

50

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.

Inclusions

        • 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.

Exclusions

        • 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
^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

Investment Plan
Insurers Offering Guaranteed Return Plans

Aditya Birla Sun Life

Bajaj Allianz

Max Life

HDFC Life

ICICI Prudential

Bharti AXA Life

Edelweiss Life

Kotak Life

Future Generali

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.
Invest More Get More!
You Get
₹1 Crores*
You Invest
₹10K/month
You Get
₹80 Lakhs*
You Invest
₹8K/month
You Get
₹50 Lakhs*
You Invest
₹5K/month
Investment Plan 3

Investment plans articles

Recent Articles
Popular Articles
Money Management Tips

04 Jul 2024

Effective money management is important for achieving financial
Read more
ICICI Prudential Capital Guarantee Solution

27 Jun 2024

ICICI Prudential Capital Guarantee Solution is a specifically
Read more
Difference Between Savings and Investment Plans

17 Jun 2024

Savings and investment plans are important financial tools with
Read more
Best Long-Term Investment Plans in 2024

05 Jun 2024

In today's dynamic financial landscape, choosing the right
Read more
Lumpsum Investment

21 May 2024

Investments are broadly classified into two categories: the SIP
Read more
20 Best Investment Options in India in 2024
  • 04 Apr 2014
  • 1843431
Investing in the best investment options in India helps to maximize your returns and fulfill your immediate and
Read more
Best NRE Savings Accounts for NRIs in 2024
  • 28 Jan 2022
  • 27375
India is a growing economy and is getting a lot of global recognition these days. It has shown immense growth in
Read more
Post Office Senior Citizen Savings Scheme (SCSS) 2024
  • 13 Feb 2020
  • 73824
The Post Office Senior Citizen Savings Scheme (SCSS) is a government-backed scheme designed specifically for
Read more
Short Term Investments Options
  • 10 Feb 2014
  • 474044
Short-term investments are financial assets that can be easily converted to cash within a short period, ranging
Read more
How to Change Mobile Number in Post Office Account Online?
  • 20 Nov 2021
  • 17581
Indian Post Payment Bank (IPPB) is the banking division of the Department of Post (Ministry of Communications)
Read more

top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL