Future Generali India Life Insurance Company Limited Launches ‘Assured Wealth Plan’
Mumbai, 01 May 2019: Future Generali India Life Insurance Company Limited (FGILI) today announced the launch of its latest product offering called ‘Future Generali Assured Wealth Plan’. The product is designed to meet one’s life goals and secure their family’s financial well-being.
‘Future Generali Assured Wealth Plan’ is an endowment plan that provides a guaranteed lump sum benefit at maturity. This means at the end of the policy term, the policyholder receives a lump sum payout equal to the Sum Assured along with Accumulated Guaranteed Additions. The guaranteed additions accumulate every year as a percentage of the sum assured and gets added to the maturity benefit. Because of this accumulation, the death benefit under the policy increases every year thus providing dual benefits to the policyholder.
Future Generali Assured Wealth Plan’ is in line with the company’s philosophy of providing customers with a simple yet smart life insurance solution that takes care of life’s specific needs. The plan is particularly beneficial for couples aged between 30-40 years who are planning to save money for their children’s education or marriage. The policy will also appeal to 40-50 year age group, looking for lump sum benefits.
Under this plan, policyholders can choose the premium payment term and policy term. Also, the plan allows the following two options to ensure ideal protection that is best suited to a customer’s saving goals.
Option 1: This is a standard endowment plan. The policy ends at the completion of the policy term or upon the death of the life assured with all benefits paid at the event of death.
Option 2: The policy continues even after the death of the life assured till the end of the policy term. There are no further premiums to be paid after the death of the life assured.
Announcing the launch of the plan, Rakesh Wadhwa, Chief Marketing Officer, Future Generali India Life Insurance Company Limited said, “Life insurance plans offer a distinct assurance of long term security, stable saving returns and peace of mind. We are happy to announce the addition of Assured Wealth Plan to our existing portfolio of Simple and Value for money products. This is an endowment plan that offers the dual benefit of sum assured along with accumulated guaranteed additions on maturity to help our customers meet their financial goals.”
Other Highlights of Future Generali Assured Wealth Plan:
• Limited and regular pay options – The plan offers options to choose between 5 to 15 years as Premium Payment Term
• Exclusive feature for women – The plan encourages women to financially protect their dependents by offering lower premium rates.
• Higher entry age and coverage age – Maximum entry age till 60 years under the Option1 plan only
Generali is an independent, Italian Group, with a strong international presence. Established in 1831, it is among the world’s leading insurers and it is present in over 60 countries with total premium income exceeding €70 billion in 2016. With over 74,000 employees in the world, and 55 million clients, the Group has a leading position in Western Europe and an increasingly significant presence in the markets of Central and Eastern Europe and in Asia. In 2017 Generali Group was included among the most sustainable companies in the world by the Corporate Knights ranking.
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’.
IITL was incorporated in the year 1933 as an investment trust Company. It has made bonus issues thrice and has been consistently paying dividend to shareholders over the years.