Human Life Value Calculator
Premium Calculator / Benefit Illustration
(Meeting a child plan specialist is purely voluntary and insurer does not offer any cashback for the same)
4 years to 50 years (Age means your age as on your last birthday)
18 years to 64 years
Fixed Policy Term of 14 years
Fixed Premium Payment Term of 12 years
Payout Option:- Annual Income | Monthly Income
Annual Income Payout Option:- Annual mode | Monthly Income Payout Option:- Monthly mode
Minimum Premium: 18,000 Annually OR 1,500 Monthly
Maximum Premium : No Limit
Payout term is 12 years after the end of policy term
Choose a payout option
i) Annual Income Payout Option or
ii) Monthly Income Payout Option to receive income as per your desired frequency.
Choose the amount of premium you would like to pay under this guaranteed income life insurance plan
Pay the desired premium amount for 12 years. The premium payment frequency will be annual for Annual Income Payout Option and monthly for Monthly Income Payout Option.
Receive guaranteed income for 12 years after the end of policy term as per your life insurance plan option.
If you have paid all your premiums, you will receive the following benefits after your policy matures.
|Your Benefits||Payout Option: Annual Income||Payout Option: Monthly Income|
|Maturity Benefit||Provided the premium payment frequency chosen is annual,
• 4 annual payouts of 1.5 times the annual premium shall be payable each year for four years starting from the end of 1st year after the end of policy term.
• 4 annual payouts of 2 times the annual premium shall be payable each year for four years starting from the end of 5th year after the end of policy term.
• 4 annual payouts of 2.5 times the annual premium shall be payable each year for four years starting from the end of 9th year after the end of policy term.
|Provided the premium payment frequency chosen is monthly,
• 48 monthly payouts of 1.5 times the monthly premium shall be payable each year for 48 months starting from the end of 13th month after the end of policy term.
• 48 monthly payouts of 2 times the monthly premium shall be payable each year for 48 months starting from the end of 61st month after the end of policy term.
• 48 monthly payouts of 2.5 times the monthly premium shall be payable each year for 48 months starting from the end of 109th month after the end of policy term.
|Total Benefit Payable||2 times of Total Premium paid under the income multiplier policy||2 times of Total Premium paid under the income multiplier policy|
You may take your Maturity Benefit as lump sum at the Maturity Date by selecting the said option at the inception of the policy. The lump sum Maturity Benefit is equal to the Maturity Sum Assured i.e. lump sum maturity benefit is equal to 15.8782 times annual premium in case of Annual income pay out option and is equal to 184.4113 times monthly premium in case of monthly income pay out option.
Note: The Annual Premium and Monthly Premium mentioned in the table above is excluding taxes, rider premiums and extra premium if any.
‘Payout period’ means the period over which the payouts under Maturity Benefit are payable.
Let’s understand this guaranteed income life insurance plan with the help of an example:
Krish is 30 years old and has purchased Future Generali Big Income Multiplier with an ‘Annual Income Payout Option’. He pays Rs. 20,000 as annual premium (excluding taxes, rider premiums and extra premiums) for a premium payment term of 12 years. He will receive Rs. 4,80,000 over a period of 12 years after the end of policy term i.e. 14 years. Let us explain how?
In case of your unfortunate demise during the Policy Term, a lump sum amount will be payable to your nominee as Death Sum Assured. In order to ensure that your family is always adequately protected, the Death Sum Assured shall be highest of the following:
|Age at Entry||Absolute amount payable on death as a percentage of Maturity Sum Assured||Age at Entry||Absolute amount payable on death as a percentage of Maturity Sum Assured|
|4-10 yrs||280%||31-35 yrs||130%|
|11-17 yrs||220%||36-40 yrs||110%|
|18-25 yrs||180%||41-50 yrs||100%|
(1) The death benefit mentioned above will be payable if your policy is active (in-force).
(2) The Annual premium and Monthly Premium mentioned in the table above is excluding taxes, rider premiums and extra premium, if any.
(3) In the event of death during the payout period, regular payouts as per the Maturity Benefit will be paid to the nominee. The nominee has the option to take a Lump Sum Death Benefit which will be equivalent to the value of outstanding payouts, discounted at a compound interest rate of 6.25% per annum.
For example: Krish is 30 years old and has purchased Future Generali Big Income Multiplier with an ‘Annual Income Payout Option’ with an Annual Premium of Rs. 20,000 (excluding taxes, rider premiums and extra premium). He pays the premium for 4 years and unfortunately passes away during the 4th policy year. In this case, Krish’s nominee will receive the following Death Benefit:
For customers who are looking for a tax saving life insurance plan which guarantees Double Returns over the payout period in the form of monthly/annual stream of income.
Suicide: If the life assured commits suicide within one year from the date of inception of the guaranteed income plan,, 80% of the Premium paid will be payable to the nominee or beneficiary/legal heirs, provided the policy is in-force.
If the life assured commits suicide within one year from the revival date, higher of 80% of the premiums paid or the surrender value ,if any, will be payable to the nominee or beneficiary/legal heirs.
You have the option to enhance your cover of this guaranteed income plan by opting for the following rider - Future Generali Accidental Benefit Rider (UIN: 133B027V01)
Please refer to the respective rider brochure for more details.
Please refer to the sales brochure of this rider to understand the terms & conditions before concluding a sale.
Click here to download the sales brochure.
Click here to download the sample Policy Document.
Future Generali Big Income Multiplier (UIN: 133N064V01)
For detailed information on this guaranteed income plan including risk factors, terms and conditions etc., please refer to the policy document and consult your advisor or visit our website before concluding a sale.
Tax benefits are subject to change in law from time to time. You are advised to consult your tax consultant
FREE LOOK CANCELLATION:
You have a period of 15 days (30 days if the policy is sold through Distance Marketing Mode) from the date of receipt of the Policy document to review the terms and conditions of the Policy. If you are not satisfied with or disagree with any of the terms and conditions, you have the option to Cancel/withdraw and return the Policy along with a letter (dated and signed) stating your intention to cancel the Policy and reasons for the objections/Cancellation, within this period. Cancellation of Policy and refund of premium is allowed under this provision, whereby the amount payable on such cancellation will be equal to the total premium paid less a proportionate cost of insurance for the period of cover and expenses towards Policy stamp duty and medical examination, if any.
The fine print in a policy can come in the way of making an informed purchase. We’ve simplified the fine print into big print.
Read the terms and conditions carefully. Ensure that your current health, occupation or lifestyle habits do not exclude you from getting the policy benefits.
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