Future Generali Big Dream

Future Generali Big Dream is a comprehensive Unit Linked Insurance Plan (ULIP) designed to help you build wealth while simultaneously providing life insurance coverage.

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What is Future Generali Big Dream?

Future Generali Big Dream is a Unit Linked Insurance Plan (ULIP) offered by Future Generali India Life Insurance Company Limited. It combines the benefits of life insurance with the potential for wealth creation through investments in unit-linked funds. This means you get:

Life Insurance: A guaranteed payout to your loved ones in case of your unfortunate demise, providing them with financial security.

Investment:

  • The opportunity to invest your premiums in a variety of funds (equity, debt, or balanced) with the potential for growth over time.

  • Flexibility to choose your investment options based on your risk appetite and financial goals.

There are three plan options available under Future Generali Big Dream

  • Wealth Creation: Focuses on building wealth for long-term goals.

  • Retire Smart: Designed for retirement planning with a guaranteed life cover throughout the policy term.

  • Dream Protect: Provides income and financial security for your loved ones even after your demise.

What is the Eligibility Criteria for Future Generali Big Dream Plan?

Criteria  Wealth Creation Retire Smart Dream Protect
Entry Age  Minimum: 0 years
Maximum: 55 years
Minimum: 18 years
Maximum: 55 years
Minimum: 18 years
Maximum: 50 years
Maturity Age  Minimum: 18 years
Maximum: 75 years
Minimum: 100 years
Maximum: 100 years
Minimum: 23 years
Maximum: 60 years
Policy Term  5 to 20 years
Regular Pay: Equal To Policy Term
Limited Pay: 5 to 19 years
Single Pay: One Time Premium Payment
100 – Age at entry( 45 to 82 years)
Regular Pay; NA
Limited Pay: 10 years to 30 years
Single Pay: NA
5 to 20 years
Regular Pay: Equal to Policy Term
Limited Pay: NA
Single Pay: NA
Premium Paying Frequency Single Pay, Yearly, Half Yearly, Quarterly, Monthly Yearly, Half Yearly, Quarterly, Monthly Yearly, Half Yearly, Quarterly, Monthly
Basic Sum Assured Regular Pay: 10X Annualized Premium
Limited Pay: 10X Annualized Premium
Single Pay: 1.25 X Single Premium
Regular Pay: NA
Limited Pay: 10 X Annualized Premium
Single Pay: NA
Regular Pay: 10 X Annualized Premium
Limited Pay: NA
Single Pay: NA

People also read: What is ULIP

What are the Benefits of Future Generali Big Dream Plan?

Here are the benefits of Future Generali Big Dream Plan:

  • Boost your returns: Earn extra allocation of 1% to 7% on your premiums paid within the grace period.

  • Lower charges: Benefit from zero allocation and zero admin charges, allowing your wealth to grow faster.

  • Systematic partial withdrawal: Access your funds through monthly withdrawals for specific financial needs (available in Wealth Creation and Retire Smart options).

  • Control asset allocation: Choose how your money is invested across various funds based on your risk tolerance and goals.

  • Life cover: Secure your family's future with a guaranteed payout in case of your unfortunate demise.

  • Additional protection: Enhance coverage with optional riders for accidental death and disability.

  • 3 investment options: Choose from Wealth Creation, Retire Smart, or Dream Protect options to align with your specific life goals.

  • Tax benefits: Reduce your tax liability under applicable sections of the Income Tax Act.

Invest more and Get more with ULIP Plan Invest more and Get more with ULIP Plan

People also read: Future Generali Life ULIP Plans

How Does Future Generali Big Dream Plan Work?

Here’s how the plan works:

Step 1: Choose from the three plan options available:

  • Option 1: Wealth Creation

    Ideal for saving towards specific milestones like buying a house, starting a business, or pursuing further education.

    After completing your premium payment term, utilize the accumulated corpus to receive monthly income through systematic partial withdrawal.

  • Option 2: Retire Smart

    Address your retirement concerns by building a retirement corpus.

    Obtain monthly income post-premium payment term through systematic partial withdrawal, enjoying tax benefits as per prevailing laws.

  • Option 3: Dream Protect

    Secure your loved ones' dreams even in your absence.

    Build a corpus for your child's education or your family's financial security.

    In the event of your demise, your nominee(s) receive:

    • Lumpsum death benefit payout.

    • Future premiums waived, with the company covering premiums.

    • Monthly income till the policy term's end.

    • Fund Value as Maturity Benefit.

Step 2: After selecting your option, consider:

  • Investment amount.

  • Duration of investment/protection.

  • Premium payment frequency.

  • Fund allocation strategy:

    • Self-invest rule: Personalized fund allocation.

    • Auto-invest rule: Pre-defined automated allocation.

Step 3: Complete the process

Complete the application, pay premiums, and submit the necessary documents to commence your plan.

People also read: ULIP Calculator

Riders Under the Future Generali Big Dream Plan

Enhance your financial security with Riders, providing additional protection for you and your family against accidental disability or demise. Choose from two rider options available under this plan:

  • Future Generali Linked Accidental Death Rider (UIN: 133A025V01)

  • Future Generali Linked Accidental Total & Permanent Disability Rider (UIN: 133A026V01)

Exclusions Under Future Generali Big Dream Plan

In the unfortunate event of death by suicide within 12 months from the policy commencement or revival date, the nominee or beneficiary shall receive the fund value/policy account value as of the date of death notification.

Moreover, any charges except Fund Management Charges (FMC) incurred after the date of death will be added back to the fund value as of the death notification date.

Additional Details of Future Generali Big Dream Plan

  1. Switching:

    Policyholders can request in writing to transfer units from one unit-linked fund to another, except to and from the Discontinuance Fund. The switch is executed by cancelling units in the old fund(s) and allocating units to the new fund(s) at the applicable unit price. The minimum switch amount is Rs. 5,000, following IRDAI guidelines. Unlimited free switches are allowed, except when the Auto Invest Rule is active or for Option 3: Dream Protect after the death of the Life Assured.

  2. Premium Redirection:

    After one year, policyholders can redirect future premiums among unit funds. Two redirections are allowed per policy year, except for Option 3: Dream Protect after the death of the Life Assured. No charges apply for premium redirection, but it's not applicable for single-pay policies.

  3. Partial Withdrawal:

    After a 5-year lock-in period, policyholders can partially withdraw funds, with a minimum withdrawal of Rs. 5,000, ensuring the minimum fund value is maintained. No partial withdrawals leading to policy termination are allowed for Option 3: Dream Protect. Partial withdrawal is restricted after the Life Assured's death if the insured is under 18.

    Invest in high growth ULIP Plans Invest in high growth ULIP Plans
  4. Systematic Transfer Option (STO):

    STO facilitates the automatic switching of units between segregated funds. Policyholders can initiate STO requests anytime during the policy term, with 48 weekly switches between specified funds over 12 months. STO stops if the Selected Fund value is zero or upon policyholder request. No charges apply for STO, except for cases where the Auto Invest Rule is active or for Option 3: Dream Protect after the Life Assured's death.

  5. Systematic Partial Withdrawal:

    Available for Options 1 and 2, policyholders can withdraw a monthly amount post-lock-in period, subject to specified conditions, without charges. Withdrawals cease upon policyholder request, falling below minimum fund value, or policy termination.

  6. Free Look:

    Policyholders can cancel within 15-30 days of receipt, receiving the Fund Value minus specified charges, based on the received date or e-Insurance Account setup.

  7. Grace Period:

    A grace period of 15-30 days applies to premium payments. Not applicable for single-pay policies.

  8. Changes in Policy:

    Premium payment mode and term changes are allowed with no charges, subject to policy conditions. Premium decrease up to 50% is permitted after 5 years, affecting Sum Assured and extra allocation rate.

  9. Tax Benefits:

    Policyholders may be eligible for tax benefits under sections 80C and 10(10D) of the Income Tax Act, subject to conditions and consultation with a tax advisor.

FAQs

  • Is it possible for the policyholder to alter the chosen option throughout the policy term?

    No, the selected plan option must be determined at the beginning of the policy. Once selected, the policyholder will not have the option to change it during the policy duration.
  • Who is eligible for coverage under the Future Generali Big Dreams Plan?

    Coverage under the Future Generali Big Dreams Plan is available to individuals, including residents, non-resident Indians, PIOs, and foreigners (subject to underwriting).
  • Can I surrender my policy at any time during the policy term?

    Yes, you can surrender your policy at any time during the policy term.
  • What happens if I surrender my policy before completing 5 policy years?

    If you surrender before completing 5 policy years:
    • After deducting the Discontinuance Charge, the Surrender Value will be held in a Discontinued Policy Fund.

    • No subsequent charges, except a Fund management charge of 0.50% p.a., will be deducted.

    • The Discontinued Policy Fund earns a minimum guaranteed interest rate prescribed by IRDAI, currently at 4% p.a.

    • The accumulated amount will be paid after the lock-in period of 5 years.

    • In case of the death of the life assured during this period, the proceeds of the Discontinuance Policy Fund will be payable to the nominee(s)/legal heir(s).

  • What if I surrender my policy after completing 5 policy years?

    If you surrender after completing the lock-in period, the Surrender Value is the Fund Value at the prevailing NAV and becomes payable immediately.
  • Are there any restrictions on surrender for Option 3: Dream Protect?

    Yes, surrender of the policy under Option 3: Dream Protect is not allowed after the death of the Life Assured.

*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

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Future Generali Big Dream Reviews & Ratings

3.9 / 5 (Based on 25 Reviews)
(Showing Newest 10 reviews)
Ajeet
Ahmedabad, March 19, 2019
Death and maturity benefits
With onetime investment in Future Generali ULIP Plans I am enjoying it service, as it is a single premium payment policy and give long term benefits. In case, I am no more alive the nominee will receive death and maturity benefits on behalf of me.
Manoj
Jaitipur, August 22, 2016
High Coverage
Good claims with maximum coverage in this insurance plan make's it very unique plan. The benefits are more but the investment is very less. Great service given by you and your company members. I'm happy with your services.
Lalit
Mohanpur, July 19, 2016
Quality Investment Plan
Future generali life insurance give the best services and the best ulip plan which has many benefits and the premium is very less. Updates of the policy can be determine from the site and renewals can be done on online portal.
Murari
Dasmantpur, July 08, 2016
ULIP Plan
Ulip plan is very good, service is very nice. Policy premium is little but the return is high. Internet service give option to renewal of the policy and updates regarding policy. Policy coverage is high and claims are easy to clear because of company member fast service.
Uttam
Chapra, June 28, 2016
Good
The ulip insurance plan I have is fantastic with some good benefits. Policy coverage is high and claims are good which sanctioned easily due to fast service of the company members. The internet service is also good for the hassle free documentation, it reduces paperwork. Good investment good insurance.
Bhuvan
Amritsar, June 08, 2016
Best Plan
I purchase ulip policy plan from future generali India life insurance. The policy coverage is high around 90% and the claims are huge. The policy premiums are low and the recovery returning amount is huge. Services are good and on time too. Executives are doing there jobs very well and with nice behaviour too. And the web services are also fantastic. Superb future investment which reduces taxes. The updates are mailed to my email address.
Nitesh
Sonipat, June 08, 2016
Coverage Is Good
From future generali India life insurance I have taken a ulip policy plan for the tenure of 29 years in which we get lumps um amount after the maturity of the policy plan. Policy coverage is 91% of investment. Accident and natural death is inbuilt secure in this policy. Service is fast and on time which is facilitate from staff members. Good policy and it's terms and conditions.
Mankaran
Vikas_nagar, June 08, 2016
Super Policy
I buy future generali life ulip plan. The policy premium is low and the paybacks are high. The policy coverage is 88% and the claims are high. Investment is low and the returns are very high. Services you provided by the executives and staff members is good. This policy plan work's for me. Hassle free documentation, online renewal and many good benefits.
Rishabh
Mumbai, June 08, 2016
Wonderful Plan
My future generali life ulip plan is really nice. It has good benefits and services. Policy coverage is 87% and claims are around high. Service is very good and fast that's why the work is done in very shot time period. Behaviour is also nice from staff members and executives. The updates regarding policy is mailed to me regularly.
Tanmanna
Badlapur, June 08, 2016
Working Good
I have ulip plan from future generali India life insurance. The plan works for me very well. Policy coverage is also good approx. 81% with claiming amount is high. Service provided by you is awesome with fast interface. Good behaviour from executives and staff members. Good investment, I like the policy.
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