Future Generali launches Future Child Benefit Plan

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Future Generali launches unique ‘Future Child Benefit Plan’

Plan to offer continued benefits and premium payments to safeguard child’s future

Mumbai, April 23, 2009:  Future Generali India Life Insurance Co. Ltd, the joint venture between the Future Group of India and Generali Group of Italy today announced the launch of Future Child Benefit Plan. The plan is designed to support the ambitious career dreams of a child thereby providing money at ‘the right time’ in the most critical stages in life. It further aims at providing the much-needed financial security in the child’s future  

Future Child Benefit Plan is a fixed benefit plan which takes care of the child’s future and offers two options to receive money back payouts at regular intervals i.e. Future Child Benefit Plan Option @ 21 and Future Child Benefit Plan Option @ 23.The maturity payments (money back) can coincide with the significant milestones in the child’s education / career like schooling, graduation and post graduation. 

The plan also offers an inbuilt waiver of premium in the event of the unfortunate death or accidental total permanent disability of the parent that ensures the continuity of the plan taking care of all future premiums so that the cash flows are intact to realize the career dreams of children. 

Speaking on the occasion Jayant Khosla the CEO of Future Generali India Life Insurance Co. Ltd. said: “The launch of the Future Child Benefit Plan is in keeping with our objective of providing Total Insurance Solution to customers at every stage of their life. With spiraling education costs combined with the growing uncertainty in the economic sphere, the need for a planned education corpus has never been more pronounced.
Our existing basket offers a choice of plans depending on each individual need and premium paying ability and we will keep expanding our portfolio to bring more and better products that are simple while providing flexibility in helping customers manage their investments.” 

Future Generali Insurance has adopted a unique business model offering Total Insurance Solutions, across Life & General Insurance, wherein all the insurance needs of customers can be serviced through every touch point of the company. Future Generali also sells insurance through their unique Mallassurance™ channel, providing select Insurance options of Life and General Insurance through Future Group retail outlets across the country.

Future Generali is currently active through 100 offices across 80 cities and over 25000 licensed advisors. Besides this large network of agents & branches, Future Generali actively offers their Insurance solutions across 250 Future Group retail outlets in India.

ABOUT THE COMPANY:

Future Generali is a joint venture between the India-based Future Group and the Italy-based Generali Group. Future Generali is present in India in both the Life and Non-Life businesses as Future Generali India Life Insurance Co. Ltd. and Future Generali India Insurance Co. Ltd. 

Future Group

Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is one of India’s leading business houses with multiple businesses spanning across the consumption space. While retail forms the core business activity of Future Group, group subsidiaries are present in consumer finance, capital, insurance, leisure and entertainment, brand development, retail real estate development, retail media and logistics. Led by its flagship enterprise, Pantaloon Retail, the group operates over 11 million square feet of retail space in over 63 cities and towns and 65 rural locations across India. Headquartered in Mumbai (Bombay), Pantaloon Retail employs around 30,000 people and is listed on the Indian stock exchanges. The company follows a multi-format retail strategy that captures almost the entire consumption basket of Indian customers. In the lifestyle segment, the group operates Pantaloons, a fashion retail chain and Central, a chain of seamless malls. In the value segment, its marquee brand, Big Bazaar is a hypermarket format that combines the look, touch and feel of Indian bazaars with the choice and convenience of modern retail. The group’s specialty retail formats include- books and music chain - Depot; sportswear retailer - Planet Sports; electronics retailer - eZone; home improvement chain-HomeTown; and rural retail chain-Aadhaar; among others. It also operates the popular shopping portal, www.futurebazaar.com

Future Capital Holdings, the group’s financial arm provides investment advisory to assets worth over $1 billion that are being invested in consumer brands and companies, real estate, hotels and logistics. It also operates a consumer finance arm with branches in 150 locations. Other group companies include, Future Generali, the group’s insurance venture in partnership with Italy’s Generali Group, Future Brands, a brand development and IPR company, Future Logistics, providing logistics and distribution solutions to group companies and business partners and Future Media, a retail media initiative. The group’s presence in Leisure & Entertainment segment is led through, Mumbai-based listed company Galaxy Entertainment Limited. Galaxy includes leading leisure chains, Sports Bar and Bowling Co. and family entertainment centers, F123. Through its partner company, Blue Foods the group operates around 100 restaurants and food courts through brands like Bombay Blues, Spaghetti Kitchen, Noodle Bar, The Spoon, Copper Chimney and Gelato. Future Group’s joint venture partners include, US-based stationery products retailers, Staples, French women’s wear retailer, Etam, Middle East-based Axiom Communications and India-based Blue Foods, Liberty Shoes, Talwalkars’ and Asian Electronics. 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.’F

Generali Group

Established in Trieste on December 26, 1831, Generali is an international group present in more than 40 countries with insurance companies and companies mostly operating in the financial and real estate sectors. Over the years, the Generali Group has reconstructed a significant presence in Central Eastern Europe and has started to develop business in the principal markets of the Far East, among which China and India.

Identity Card:

• Generali Group ranks among the top three  insurance groups in Europe and the 30th largest company in the Fortune 500 international ranking, with a 2007 premium income of over € 66 billions
• High rating assigned by the international rating agencies:
• A.M. BEST  A+
• Standard & Poor’s AA
• Fitch AA
• Moody’s Aa3                 
• It is present in more than 40 countries
     
• It has over 50 millions clients worldwide
 
• It has  80,555 employees
 
• It has assets over €370 billion

For Further Information:

Future Generali India Life Insurance Co Ltd, Reg No: 133, Registered Office: Knowledge House, Shyam Nagar,Off: Jogeshwari Vikhroli Link Road, Jogeshwari (East) Mumbai 400060. Corporate Office: 001, Trade Plaza, 414 Veer Savarkar Marg, Prabhadevi, Mumbai–400025

Insurance is the subject matter of Solicitation.