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Achieve the double benefit of living your dreams and ensuring the financial security of your loved ones with a comprehensive insurance plan.
By just making a single premium payment in the Future Generali Single Premium Anchor Plan, you can get a lumpsum payment or a steady income as per the plan option chosen.
Empower yourself to go ahead and achieve your dreams knowing that your financial obligations and family’s future are secured.
One Payment Many Benefits: Get the convenience of a single premium policy and avoid the hassle of remembering and making multiple payments.
Choice of Options: Choose according to your goals! With the Future Generali Single Premium Anchor Plan you can decide which plan option and payout option works best for you and your loved ones.
Assured Protection: Secure your family’s happiness as the Future Generali Single Premium Anchor Plan offers life cover throughout the policy term.
Guaranteed Lumpsum Benefit: Whether you choose the wealth option or the income option, you get a guaranteed lumpsum benefit at the maturity.
Guaranteed Long-Term Income: You get an option to earn guaranteed income from as early as next month till the end of the Policy Term (Max term-40 years; Max Age to earn income- 90 years old)
Tax Benefits: : You may be eligible for tax benefits according to the provisions of Income Tax laws as amended from time to time
Survival BenefitMaturity BenefitDeath BenefitYou will get the survival benefit if you choose Option 2: Income Option in the Future Generali Single Premium Anchor Plan.
This benefit will be paid till the end of the Policy Term as per the Payout Option and Survival Benefit Payout Frequency chosen.
The plan offers three Payout Options to choose from:
Important Note: Once you choose the Payout Option, you cannot change it during the term of the policy.
The Annual Survival Benefit = Survival Benefit Rates per annum * Single Premium (excluding any taxes, rider premiums, and underwriting extra premiums).
The per annum Survival Benefit Rates are based on the Entry Age of Life Assured, Policy Term, Payout Option and Premium band.
You can opt to receive Survival Benefit in half-yearly, quarterly or monthly frequency instead of annually.
| Payout option | Frequency of Survival Benefit Payout |
First Survival Benefit Payout |
|---|---|---|
| Immediate Income | Monthly | End of 1st policy month |
| Immediate Income | Yearly | End of 1st policy year |
| Deferment Period 5 | Monthly | End of the 61st policy month |
| Deferment Period 5 | Yearly | End of the 6th policy year |
| Deferment Period 10 | Monthly | End of the 121st policy month |
| Deferment Period 10 | Yearly | End of the 11th policy year |
You can easily change the frequency to receive Survival Benefit anytime during the Policy Term. The revised frequency of Survival Benefit payments shall be applicable on policy anniversary.
Maturity benefit = Sum Assured on Maturity
Option 1: Wealth Option
Sum Assured on Maturity = Maturity of Multiple factors * Single Premium paid (excluding any taxes, rider premiums, and underwriting extra premiums)
The Maturity Multiple factor is based on the Entry Age of Life Assured, Policy Term, and Premium band.
Option 2: Income Option
Sum Assured on Maturity = Sum Assured
Sum Assured under this option is the Single Premium paid(excluding any taxes, rider premiums, and underwriting extra premiums).
The policy will terminate on payment of Maturity Benefit under both Plan Options.
Let’s understand how the Survival and Maturity Benefit works with an example:
OPTION 1- WEALTH OPTION
Rohan, a 35 year old healthy man purchased the Future Generali Single Premium Anchor Plan with Option 1: Wealth Option.
He paid a single premium of Rs. 2,00,000 (excluding applicable taxes, rider premiums, loadings for modal premium and underwriting extra premiums, if any) for a Policy Term of 20 years.
Rohan’s Sum Assured will be Rs. 2,00,000 & he will receive a Maturity benefit of Rs. 6,57,110 at the end of policy term.
Rohan, a 35 year old healthy man purchased the Future Generali Single Premium Anchor Plan with Option 2: Income Option with Immediate Income He paid a single premium of Rs. 2,00,000 (excluding applicable taxes, rider premiums, loadings for modal premium and underwriting extra premiums, if any) for a Policy Term of 40 years and Yearly Survival Benefit payout frequency.
His Sum Assured will be Rs. 2,00,000 and he will receive a Survival Benefit of Rs 11,029 per annum.
Keeping all the parameters like age (35 years), Policy Term (40 years) and Premium Amount (Rs 2,00,000) same, Rohan will get the following benefits if he chooses different Payout Options under Option 2: Income Option in Future Generali Single Premium Anchor Plan.
| Payout Option | Survival Benefit | Total Survival Benefit (a) | Maturity Benefit (b) | Total Benefit (a + b) |
|---|---|---|---|---|
| Deferment period of 5 years | Rs. 15,857 from the 6th Policy Year till the end of the Policy Term | Rs. 5,54,995 | Rs. 2,00,000 at the end of the 40th Policy Year. | Rs. 7,54,995 |
| Deferment period of 10 years | Survival Benefit of Rs. 22,562 from the 11th Policy Year till the end of the Policy Term | Rs. 6,76,860 | Rs. 2,00,000 at the end of the 40th Policy Year. | Rs. 8,76,860 |
In case of unfortunate demise of the Life Assured during the Policy Term of the Plan, the Death Benefit secures the financial well-being of the family. For both Plan Options, the Death benefit payable shall be higher of:
Where,
The Sum Assured on Death is defined as 1.25 times the Single Premium paid (excluding the taxes, rider premiums and underwriting extra premiums, if any).
On the death of the Life Assured during the policy term, the Death Benefit will be paid immediately (irrespective of any survival benefits paid earlier under Option 2: Income Option) and the policy shall be terminated.
To clearly understand how Death Benefit works in this case, let us look at Rohan’s story.
Rohan, a 35 year old healthy man purchased Future Generali Single Premium Anchor Plan- Option 1: Wealth option. He paid a Single Premium of Rs 2,00,000 (excluding applicable taxes, rider premiums, loadings for modal premium, and underwriting extra premiums, if any) for a Policy Term of 20 years.
His Sum Assured will be Rs. 2,00,000
If Rohan dies in the 5th policy year, the benefit payable under Option 1: Wealth Option to Rohan’s nominee(s) will be:
The policy will terminate on payment of the Death Benefit.
Rohan, a 35 year old healthy man purchased Future Generali Single Premium Anchor Plan- Option 2: Income Option with Immediate Income and paid a Single Premium of Rs. 2,00,000 (excluding applicable taxes, rider premiums, loadings for modal premium, and underwriting extra premiums, if any) for a Policy Term of 40 years and Yearly Survival Benefit payout frequency.
His Sum Assured will be Rs. 2,00,000 and his Survival Benefit amount will be Rs. 11,029 per annum.
If Rohan unfortunately dies in the 5th policy year. The benefit payable under Option 2: Income Option to Rohan’s nominee(s) will be:
The policy will terminate on payment of the Death Benefit.
| Parameter | Criterion | ||
|---|---|---|---|
| Plan Option | |||
| Option 1 : Wealth Option | Option 2 : Income Option | ||
| Entry Age (As on last Birthday) | |||
| Wealth Option | Income Option | ||
| Minimum | 8 years | 0 years | |
| Maximum | 65 years | 65 years | |
| Maturity Age (As on last Birthday) | |||
| Wealth Option | Income Option | ||
| Minimum | 18 years | 25 years | |
| Maximum | 95 years | 90 years | |
| Policy Term | |||
| Wealth Option | Income Option | ||
| 10/15/20/25/30 years | 25/30/35/40 years | ||
| Under All Plan Options | |||
| Premium Payment Term (PPT) | Single Pay | ||
| Premium Amount | |||
| Wealth Option | Income Option | ||
| Minimum | Rs. 25,000 | Rs. 1,00,000 | |
| Maximum | No Limit (As per Board Approved Underwriting Policy) | ||
| Premium Payment Frequency | Single | ||
| Sum Assured |
Sum Assured under this product is the Single Premium paid. Where, |
||
Choose which Plan Option works the best for you in this single premium policy.
If the Life Assured unfortunately dies during the term of the plan, a lump sum is paid to his/her nominee under both the options.
Important: Choose wisely because the option chosen at inception cannot be changed during the term of the policy.
Choose the Payout Options which meet your income requirement. You can choose to get income either immediately, after a deferment period of 5 years or after a deferment period of 10 years.
Important: Choose wisely as per your needs because the option chosen at inception cannot be changed during the term of the policy.
You now need to decide on parameters which will influence the benefits under your policy. The parameters are:
Generate a benefit illustration to review total benefits receivable against the premium commitment by choosing ‘Calculate Premium’ on our home page
If you disagree with the terms and conditions of the policy, you can return the policy within 15 days of receipt of the Policy Document (30 days if You have purchased this policy through Distance Marketing Mode or in case of electronic policies). To cancel the policy, you can send us a request for cancellation along with the reason for cancellation. We will cancel this policy and refund the Instalment Premium received after deducting proportionate risk premium for the period of cover, stamp duty charges and expenses incurred by us on the medical examination of the Life Assured (if any).
Note: Distance Marketing means insurance solicitation/lead generation by way of telephone calls/ Short Messaging Service (SMS)/other electronic modes like e-mail, internet & Interactive Television (DTH)/direct mail/ newspaper and magazine inserts or any other means of communication other than that in person.
The Grace Period is not applicable as it is a single premium product.
For Option 2: Income Option - You can choose to receive Survival Benefits in yearly, half yearly, quarterly or monthly frequency. In such cases, the Survival Benefits shall be payable as follows:
| Yearly | 100% of (Survival Benefit payable annually) shall be payable on the annual policy anniversary in arrears. |
|---|---|
| Half-yearly | 49% of (Survival Benefit payable annually) shall be payable on the half yearly policy anniversary in arrears. |
| Quarterly | 24.25% of (Survival Benefit payable annually) shall be payable on the quarterly policy anniversary in arrears. |
| Monthly | 8% of (Survival Benefit payable annually) shall be payable on the monthly policy anniversary in arrears. |
The frequency to receive Survival Benefit can be changed anytime during the Policy Term. The revised frequency of Survival Benefit payments shall be applicable on the policy anniversary.
There shall be no charge made for the change of Survival Benefit Payout frequency.
No riders are available under this product.
You may avail a loan once the policy has acquired a Surrender Value. The maximum amount of loan that can be availed is up to 50% of the Surrender Value. The minimum amount of policy loan that can be taken is Rs. 10,000. For more details, please refer to the Policy Document. The interest rate applicable for the Financial Year will be declared at the start of the Financial Year, basis the current market interest rate on 10-year Government Securities (G-Sec) + 2% rounded to the nearest 1%. The current interest rate applicable on loans is 9% per annum compounded half-yearly for the Financial Year 2023-24. Please contact Us or Our nearest branch for information on the latest interest rate on loans.
Not Applicable as it is a single premium product.
Not Applicable as it is a single premium product.
Not Applicable as it is a single premium product.
We encourage you to continue your policy as planned, however, you have the option to surrender the same for immediate cash requirement, in case of an emergency. You may Surrender this Policy at any time before the Maturity of the Policy or before the death of the Life Assured during the Policy Term, whichever is earlier. The amount payable on surrender will be (a) The Guaranteed Surrender Value (GSV) or (b) Special Surrender Value (SSV), whichever is higher.
i) Guaranteed Surrender Value (GSV):
The Guaranteed Surrender Value = Guaranteed Surrender Value factor for premiums * [Total Premiums Paid (excluding applicable taxes, rider premiums and extra premiums, if any)] minus
Total Survival Benefits (Applicable for Option 2: Income Option only) already paid.
ii) Special Surrender Value (SSV):
The Special Surrender Value shall be based on the company’s expectation of future financial and demographic conditions.
This shall be reviewed by the company from time to time with prior approval from IRDAI. The policy terminates on surrender and no further benefits are payable under the policy.
In the case of minor lives, the ownership of the policy shall automatically vest on the Life Assured on the attainment of majority (i.e. when the Life Assured attains age 18 years). In case of the death of the Policyholder, while the Life Assured is a minor, the surviving parent/ legal guardian may be appointed as a new Policyholder.
Nomination shall be in accordance with Section 39 of the Insurance Act, 1938 as amended from time to time. Assignment shall be in accordance with Section 38 of the Insurance Act, 1938 as amended from time to time.
In case of death due to suicide within 12 months from the risk commencement date under the policy or from the date of revival of the policy, as applicable, the nominee or beneficiary of the policyholder shall be entitled to 80% of the total premiums paid till the date of death or the surrender value available as on the date of death whichever is higher, provided the policy is in force.
For further information, Section 45 of the Insurance Laws (Amendment) Act, 2015 may be referred.
Future Generali India Life Insurance Company Limited offers an extensive range of life insurance products, and a distribution network that ensures we are close to you wherever you go.
At the heart of our ambition is the promise to be a lifetime partner to our customers. And with the help of technology, we are making the shift from not only offering protection to our customers but also providing personalized services to them.
It starts with our extensive agent base which is at the core of this transformation. Through our distribution network, we ensure that there is always a caring touch while servicing the individual needs of our customers. With this philosophy, we aim to make simplicity, innovation, empathy, and care synonymous with our brand - Future Generali India Life Insurance Company Limited.
This Product is not available for online sale.
For detailed information on this plan including risk factors, exclusions, terms and conditions etc. please refer to the product brochure and consult your advisor, or, visit our website before concluding a sale. Tax benefits are as per the Income Tax Act 1961 and are subject to any amendment made thereto from time to time. You are advised to consult your tax consultant. Future Group’s and Generali Group’s liability is restricted to the extent of their shareholding in Future Generali India Life Insurance Company Limited. (IRDAI Regn. No.: 133) (CIN: U66010MH2006PLC165288) | Regd. & Corporate Office address: Unit 801 and 802, 8th floor, Tower C, Embassy 247 Park, L.B.S. Marg, Vikhroli (W), Mumbai - 400083 | Email: care@futuregenerali.in | Call us at 1800 102 2355 | Website: life.futuregenerali.in | UIN: 133N101V01 |
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.