Future Generali India Life Insurance launches Future Generali New Assure Plus About New Assure Plus
About New Assure Plus
A simple and flexible insurance plan that enhances maturity benefits by way of bonuses and offers dual benefit payouts option i.e. payouts are made at the time of death and also at the time of maturity
Future Generali India Life Insurance Company Limited (FGILI) today announced the launch of yet another product in its portfolio of simple to understand and easy to buy products – Future Generali New Assure Plus. It is a simple and flexible, non-linked, participating insurance plan which means the maturity Payouts can be enhanced by way of bonuses.
The best feature under this plan is that it offers customers the flexibility to choose between 2 Death Benefit Options. Death Benefit Option 2 offers customers a dual Benefit Payout, one at the time of death and the other at the time of maturity. The policy continues after the death of the policy holder and all future premiums are waived-off. The nominee receives a Maturity Payout as would be the case, if the insured person would have continued to live. Additionally, customers have the flexibility to choose a Policy Term and Premium Payment Term as per their individual financial needs.
Eligibility
| Entry Age (as on last birthday) |
Minimum: 3 years Maximum: 55 years |
| Maturity Age* | Minimum: 18 years Maximum: 70 years |
| Premium Frequency | Yearly, Half Yearly, Quarterly & Monthly |
| Premium | Minimum Annualized Premium- Rs. 10,000 subject to Minimum SA of Rs. 1,00,000 Maximum Premium- No Limit |
| Policy Term | 10 to 30 years |
| Premium Payment Term | Option 1: Any term between 5 years till the policy term (including both) Option 2: Any term between 5 years continuing up to 5 years before the end of the policy term (including both) |
| Sum Assured | Minimum – Rs. 1,00,000 Maximum - No Limit |
* For minor life assured having age less than 8 years, minimum policy term chosen shall be equal to (18 less age at entry) years.
For life assured having entry age greater than or equal to 8 years but less than or equal to 40 years, the policy term chosen shall be between 10 years to 30 years, both inclusive.
For life assured having age greater than 40 years, maximum policy term chosen shall be equal to (70 less age at entry) years.
On the occasion of the launch, Mr. Munish Sharda, Managing Director & CEO, Future Generali Life Insurance said, “With the launch of the Future Generali New Assure Plus, we are giving customers the power to marry their financial preparedness to their important milestone so that they don’t have to make compromises. The product will also tap into the higher-age band segment to give them a chance to benefit from financial planning if they have missed out in doing so in the past. This product is in line with our philosophy of offering simple to understand products which deliver value to both, our customers as well as distributors.”
GENERALI GROUP
The Generali Group is an Italian Group, independent since 1831, with a strong international presence. It is among the world’s leading insurers, with total premium income exceeding €74 billion in 2015. With above 76,000 workers in the world, present in over 60 Countries, the Group has a leading position in Western European Countries and an ever more significant presence in the markets of Central and Eastern Europe and in Asia. In 2015, Generali was the sole insurance company included among the 50 smartest companies of the world by the MIT Technology Review.
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’.
