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Future Generali India Life Insurance launches the Assured Money Back Plan

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Future Generali India Life Insurance launches the Assured Money Back Plan

A simple plan with guaranteed returns

Future Generali India Life Insurance Company Limited (FGILI), a joint venture between Future Group - the leading retailer of India, Assicurazioni Generali - a global insurance group and one of the world's 50 largest companies* and IITL - a leading NBFC, today announced the launch of the Assured Money Back Plan which is a non-linked and non-participating, money back plan. This is a simple insurance plan which combines certainty along with returns at regular intervals.

This plan caters to the needs of customers who are unsure about their ability to pay premiums for the entire policy term. For eg: business owners, sportspersons, artists etc who tend to have an irregular income. This plan also offers flexibility to choose from 4 limited premium payment terms, which starts from 5 years and the customer enjoys a longer duration of life cover along with 200% of the sum assured as guaranteed money backs during the policy term.

Parameter Criteria
Entry Age
(Age mentioned refers to age as on last birthday)
Minimum: 18 years
Maximum:
  • 50 years for a Policy Term of 15/17/20 years
  • 48 years for a Policy Term of 22 years
Policy Term 15 years / 17 years / 20 years and 22 years
Premium Paying Term
  • 5 years for a 15 year policy term
  • 7 years for a 17 year policy term
  • 10 years for a 20 year policy term
  • 12 years for a 22 year policy term

On the occassion of the launch, Mr. Munish Sharda, Managing Director & CEO, Future Generali Life Insurance said, "Given that the market scenario is usually uncertain and volatile, customers opt for products which have guaranteed returns. The concept of paying premiums for a limited period while enjoying a longer life cover with guaranteed money backs is best suited for customers who do not have a regular income. The Future Generali Assured Money Back Plan, as the names suggests, is a structured solution for periodic payouts to the policyholder post completion of the premium payment term. This guaranteed money back helps customers save for their important occasions by paying premiums for a limited period. We remain committed towards delivering value to our customers and design versatile products that cater to their lifecycle needs."

About Generali

The Generali Group is one of the largest global insurance providers with 2013 total premium income of €66 billion. With 77,000 employees worldwide serving 65 million clients in more than 60 countries, the Group occupies a leadership position on West European markets and an increasingly important place on markets in Central Eastern Europe and Asia.

About Future Group

Future Group operates some of India's most popular retail chains including Central, Big Bazaar, Food Bazaar, Home Town and eZone. Apart from its allied businesses in Life and General insurance, the Group is also present in the domain of logistics infrastructure and supply chain and brand development. The group operates over 17 million square feet of retail space in over 90 cities and towns and 60 rural locations across India. The group's retail formats connect over 300 million customers to over 30,000 small, medium and large enterprises that supply products and services to its retail chains. Future Group believes in developing strong insights on Indian consumers and building businesses based on Indian ideas, as espoused in the group's core value of 'Indianness.' The group's corporate credo is, 'Rewrite rules, Retain values'.

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