A guaranteed income plan along with an insurance cover
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 Income Plan which is a non-linked, non-participating endowment plan. The plan comes with two term options – 11 years and 15 years, at the end of which the policy holder receives an assured annual income after the Policy Term with an additional benefit upto 4.5 times the annualized premium, depending on the age.
The policy holder has an added benefit of receiving the maturity benefit in monthly instalments. In such a case, he will get 2.5% more than the annual instalment.
|Benefits||11 Year Term||15 Year Term|
|Maturity Benefit||11 annual instalments of 1.5 times your annual premium from the end of the 12th year to the end of 22nd year||15 annual instalments of 2 times your annual premium from the end of the 16th year to the end of 30th year|
|Additional Benefit||Upto 4.5 times your annual premium at the end of the payout term depending on your age||Upto 4.5 times your annual premium at the end of the payout term depending on your age|
|Total Payout||17.5 to 21 times of annualised premium depending on your age when you purchased the policy||31 to 34.5 times of annualised premium depending on your age when you purchased the policy|
On the occassion of the launch, Mr. Munish Sharda, Managing Director & CEO, Future Generali India Life Insurance said, “The need for life insurance stems from the need to provide financial security to the family, and in today’s inflationary and uncertain macro environment, it is important to have a financial plan in advance for your future needs. We at Future Generali are proud to present the Future Generali Assured Income plan, a value for money product, which is versatile, simple to understand and can be used for various long term needs like retirement or financial planning for your children.The product offers both the options of regular annualised income as well as a one-time lump sum payment.”
“This product is in line with our philosophy of offering simple to understand propositions which deliver value to our customers,” he added.
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’.