Future Generali Wealth Protect Plan

Introduction/Overview
The Future Generali Wealth Protect Plan is a Unit Linked Insurance Plan that policyholders can
use to provide life insurance cover while maximizing their wealth creation over a long policy term. This policy offers policyholders customization and control over their investment portfolio with a choice of six funds, two plan options to choose from, along with a host of additional riders.

Read more
Best ULIP Plans
  • Guaranteed Tax Savings

    Guaranteed Tax Savings^

    Under sec 80C & 10(10D)
  • savings

    ₹1 Crore

    Invest ₹10k Per Month*
  • Zero LTCG Tax

    Zero LTCG Tax^

    Unlike 10% in Mutual Funds
Top performing plans with High Returns*
Invest ₹10K/month & Get ₹1 Crore 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
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

Key Features

  • Depending on the policyholders’ age and chosen policy term, this policy offers a protection of anywhere between seven to thirty times the annualized premium.
  • This policy offers two plan options to the policyholders, based on the premium amount they opt to pay. The Gold option is for a premium amount of Rs. 25000 and the Platinum option is for premium amounts of Rs. 25001 to Rs. 200,000.
  • The policy offer Guaranteed Loyalty Additions on maturity of the policy.
  • The policyholders may customize their plan by choosing additional riders.

Benefits

  • When the policy matures, the policyholder receives the Fund Value plus Guaranteed Loyalty Additions as Maturity Benefit.
  • 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:
    • The Sum Assured minus partial withdrawals (if any), or 
    • The Fund Value under policy, or 
    • 105% of the total premiums paid, minus any partial withdrawals.
  • Guaranteed Loyalty Additions are available as a percentage of the first year Annualized Premium, and is payable on maturity of the policy.
  • The policy offers six Unit Linked Funds for investment.
  • The policyholder has the flexibility to customize and control his or her investments through switching between funds.
  • This plan offers four additional rider benefits to enhance the customers’ coverage under the policy.
  • 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.
  • After completing one policy year, future premiums can be allocated in an altered proportion to the various available funds units.
  • After five years from the commencement of the policy, the policyholder can make partial withdrawals, subject to the condition that the minimum withdrawal amount is Rs. 5000.
 

Product Specification:

 

Minimum

Maximum

Entry Age of the Life Assured(Last Birthday)

7 years

60 years

Maturity Age (Last Birthday) of the Life Assured

22

75 years

Policy Term (PT) in years

15 years

40 years

Premium Paying Term (PPT) in years

Regular

Premium Paying Frequency

For Gold option :Yearly and Half-yearly

For Platinum option: Yearly, Half-yearly, Quarterly, Monthly

Annual Premium

Rs. 25000 for Gold

Rs. 25001 for Platinum

Rs. 25000 for Gold

Rs. 200,000 for Platinum

Sum Assured

For age< 45 years, SA=Higher of (1/2 X Policy Tenure or 10) X Annualized Premium
For age >=45 years, SA= Higher of (1/4 X Policy Tenure or 7) X Annualized Premium

Dependent on the age of the life insured:

7-  44 years: 30 times

45- 50 years: 20 times

51- 55 years: 15 times

56 - 60 years: 10 times

 

       
 

Details About Premium

FG Wealth Protect Plan - Gold option

Illustrative maturity benefit with projected annual investment return of 6% pa: Rs. 592,194.00

Guaranteed Benefits

Policy Term / year

Age

Annual Premium

Premium Allocation

Amount available for investment

Policy administration charge

Death Benefit

On Maturity

1

30

25000

1250

2370

938

750000

0

2

31

25000

750

24250

713

750000

0

3

32

25000

750

24250

713

750000

0

4

33

25000

750

24250

713

750000

0

5

34

25000

750

24250

713

750000

0

6

35

25000

500

24500

713

750000

0

7

36

25000

500

24500

713

750000

0

8

37

25000

500

24500

713

750000

0

9

38

25000

500

24500

713

750000

0

10

39

25000

500

24500

713

750000

0

11

40

25000

500

24500

713

750000

0

12

41

25000

500

24500

713

750000

0

13

42

25000

500

24500

713

750000

0

14

43

25000

500

24500

713

750000

0

15

44

25000

500

24500

713

750000

0

16

45

25000

500

24500

713

750000

0

17

46

25000

500

24500

713

750000

0

18

47

25000

500

24500

713

750000

0

19

48

25000

500

24500

713

750000

0

20

49

25000

500

24500

713

750000

1250

FG Wealth Protect Plan - Platinum option

Illustrative maturity benefit with projected annual investment return of 4% pa: Rs. 2,201,571.00

Guaranteed Benefits

Policy Term / year

Age

Annual Premium

Premium Allocation

Amount available for investment

Policy administration charge

Death Benefit

On Maturity

1

50

100000

5000

95000

3000

2000000

0

2

51

100000

3000

97000

2450

2000000

0

3

52

100000

3000

97000

2450

2000000

0

4

53

100000

3000

97000

2450

2000000

0

5

54

100000

3000

97000

2450

2000000

0

6

55

100000

2000

98000

2450

2000000

0

7

56

100000

2000

98000

2450

2000000

0

8

57

100000

2000

98000

2450

2000000

0

9

58

100000

2000

98000

2450

2000000

0

10

59

100000

2000

98000

2450

2000000

0

11

60

100000

2000

98000

2450

2000000

0

12

61

100000

2000

98000

2450

2000000

0

13

62

100000

2000

98000

2450

2000000

0

14

63

100000

2000

98000

2450

2000000

0

15

64

100000

2000

98000

2450

2000000

0

16

65

100000

2000

98000

2450

2000000

0

17

66

100000

2000

98000

2450

2000000

0

18

67

100000

2000

98000

2450

2000000

0

19

68

100000

2000

98000

2450

2000000

0

20

69

100000

2000

98000

2450

2100000

7500

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. This timeframe is reduced to 15 days if payments are being via monthly mode.

Policy Termination or Surrender Benefit: The policy may be surrendered any time during the policy period. The Surrender Value is the fund value minus the discontinuance charge, if any. If the policy is surrendered before the completion of five policy years then the insurance cover ceases and the Surrender Value equal to Fund Value minus Discontinuation Charge will be kept in the Discontinued Fund of the policy. If surrender of the policy happens after completing five policy years, the insurance cover ceases, the Surrender Value is paid immediately and the policy is terminated. Termination occurs on payment of the Death Benefit. It also occurs when the policy is lapsed by non-payment of three years of premiums and not being revived within the Revival Period.

Free Look Period: Policyholders have a limited free look period of 15 days from the date of receiving policy documents to review the policy. If the policyholder does not wish to continue with the policy, then he or she has to return the policy stating their objections. The premium that was paid will be refunded 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

  • With the Settlement option, the policyholder can opt to receive the maturity benefit in periodical payments after the date of maturity rather than as a lump sum.

Additional Features or Riders

There are four additional riders available with this policy, which are:

  • Accidental Death Benefit
  • Accidental Total and Permanent Disability Benefit
  • Unit Linked Life Guardian Rider
  • United Linked Critical Illness (Core) Rider

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 discontinuance.

Various charges apply to this policy. They are as follows:

  • Premium Allocation Charge, which is deducted from the Premium paid by the customer. The balance is invested in the investments chosen by the policyholder
  • Policy Administration Charge is deducted daily and as a percentage of the annualized premium.
  • Fund Management Charges are deducted on a daily basis and varies according to the funds chosen by the policyholder.
  • At the beginning of each month, Mortality Charges are deducted by cancellation of units from the fund value.
  • Switching Charge – Twelve free switches are allowed in a single policy year. Each subsequent switch is charged at Rs. 100.
  • Partial Withdrawal Charge – This policy allows four partial withdrawals free of cost in a policy year. For subsequent withdrawals, there is a charge Rs. 200 per withdrawal.
  • Mortality Charges are deducted monthly by the cancellation of units.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

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 the Fund 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

Ulip Insurer2
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
ulipInsurer_3
Average Rating
(Based on 0 Reviews)
Ulip Insurer4
Ulip Insurer1

Ulip plans articles

Recent Articles
Popular Articles
ULIP Plan Riders

17 Jan 2024

ULIP or Unit Linked Insurance Plans provide rider benefits. They
Read more
ULIP Returns in 40 Years

08 Jan 2024

Estimating the ULIP returns over 40 years offers a unique
Read more
ULIP Returns in 35 Years

04 Jan 2024

A 35-year ULIP (Unit Linked Insurance Plan) emerges as an
Read more
ULIP Returns in 30 Years

03 Jan 2024

A 30-year ULIP (Unit Linked Insurance Plan) is a type of
Read more
ULIP Returns in 25 Years

03 Jan 2024

A 25-year ULIP (Unit Linked Insurance Plan) emerges as an
Read more
ULIP Calculator
A ULIP Calculator is a financial tool designed to help you compare ULIP plans and estimate the maturity amount
Read more
SBI Life Smart Privilege Plan: Benefits & Features
SBI Life Smart Privilege is a unit-linked, non-participating life insurance plan offered by SBI Life Insurance
Read more
7 Things to Know About the Tax Benefits of ULIPs
Nowadays, Unit Linked Insurance Plans, i.e., ULIPs, have evolved as the popular income tax saving investment
Read more
ULIP Returns in 5 Years
ULIP means Unit Linked Insurance Plan. It is a unique financial instrument that combines insurance coverage with
Read more
Tata AIA ULIP Plan Calculator
A Tata AIA ULIP Plan Calculator is a premium and returns calculation tool that helps easily and quickly compare
Read more

top

Become a Crorepati

Invest ₹10K/Month & Get ₹1 Crore returns*

Mobile +91
*T&C Applied.
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL