Future Generali Total Insurance Solutions
single-premium-anchor-plan

Future Generali Single Premium Anchor Plan

An Individual, Non-Linked, Non-Participating (without profits), Savings, Life Insurance Plan

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.

Why Should You Choose Future Generali Single Premium Anchor Plan?

  • 1

    One Payment Many Benefits: Get the convenience of a single premium policy and avoid the hassle of remembering and making multiple payments.

  • 2

    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.

  • 3

    Assured Protection: Secure your family’s happiness as the Future Generali Single Premium Anchor Plan offers life cover throughout the policy term.

  • 4

    Guaranteed Lumpsum Benefit: Whether you choose the wealth option or the income option, you get a guaranteed lumpsum benefit at the maturity.

  • 5

    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)

  • 6

    Tax Benefits: : You may be eligible for tax benefits according to the provisions of Income Tax laws as amended from time to time

Benefits of Future Generali Single Premium Anchor Plan

Survival Benefit

You 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:

  1. Immediate Income: The Survival Benefits start immediately and are paid annually in arrears till the end of the Policy Term.
  2. Deferment Period 5 The Survival Benefits start after 5 years from the inception of the policy and are paid annually in arrears till the end of the Policy Term.
  3. Deferment Period 10 The Survival Benefits start after 10 years from the inception of the policy and are paid annually in arrears till the end of the Policy Term.

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

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. 6,07,812 at the end of policy term.

maturity-benefit-1

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 10,229 per annum.

maturity-benefit-2

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. 14,517 from the 6th Policy Year till the end of the Policy Term Rs. 5,08,095 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. 20,346 from the 11th Policy Year till the end of the Policy Term Rs. 6,10,380 Rs. 2,00,000 at the end of the 40th Policy Year. Rs. 8,76,860
Death Benefit

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:

  1. Sum Assured on Death
  2. Surrender Value as on date of death

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.

Option 1 : Wealth option

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:

death-benefit-1

The policy will terminate on payment of the Death Benefit.

Option 2: Income Option with Immediate Income

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. 10,229 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:

death-benefit-1

The policy will terminate on payment of the Death Benefit.

Life Insurance Plan Summary

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,
"Single Premium" means the total premium paid at the outset, excluding any taxes, rider premiums, and underwriting extra premiums.
Note:
  1. For minors, the date of issuance of policy and date of commencement of risk shall be the same.
  2. Premiums mentioned above are excluding the applicable taxes, rider premiums, and underwriting extra premiums, if any.
  3. Age, wherever mentioned is age as on last birthday.

Steps to buy Future Generali Single Premium Anchor Plan

step-1

Step 1

Choose which Plan Option works the best for you in this single premium policy.

  • Option 1 – This is a standard endowment plan with lumpsum benefits paid at the end of the Policy term
  • Option 2 –Income Option: This is an endowment plan that pays Annual Survival Benefits with a choice of Payout Options, along with lumpsum benefit paid at the end of the Policy term.

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.

step-2

Step 2

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.

step-3

Step 3

You now need to decide on parameters which will influence the benefits under your policy. The parameters are:

  • Policy Term - This is the total duration for which you are entitled to receive the policy benefits.
  • Survival Benefit Payout Frequency (if you have chosen Option 2: Income Option) - The frequency at which you want to receive Survival Benefits.
  • Premium - The amount of premium you want to pay.

Generate a benefit illustration to review total benefits receivable against the premium commitment by choosing ‘Calculate Premium’ on our home page

step-4

Step 4

Fill out the proposal form (application form) and complete the documentation process.
step-5

Step 5

Finally pay your premium amount and head towards a financially secure future with this one time investment plan.

Little Privileges Just For You

Free Look Period

If you disagree with the terms and conditions of the policy, you can return the policy within 30 days of receipt of the Policy Document (whether received electronically or otherwise). To cancel the policy, you can send us a request for cancellation along with the reason for cancellation. We will cancel this policy if you have not made any claims 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).

If the Policy is opted through Insurance Repository (IR), the computation of the said Free Look Period will be as stated below:-

  • For existing e-Insurance Account: Computation of the said Free Look Period will commence from the date of delivery of the e-mail confirming the credit of the Insurance Policy by the IR.
  • For New e-Insurance Account: If an application for e-Insurance Account accompanies the proposal for insurance, the date of receipt of the ‘welcome kit’ from the IR with the credentials to log on to the eInsurance Account (eIA) or the delivery date of the email confirming the grant of access to the eIA or the delivery date of the email confirming the credit of the Insurance Policy by the IR to the eIA, whichever is later shall be reckoned for the purpose of computation of the Free Look Period.
Grace Period

The Grace Period is not applicable as it is a single premium product.

Flexibility to choose Survival Benefit Frequency

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.

The payment of Survival Benefit is subject to deduction of any outstanding dues from the Policyholder including but not limited to outstanding Policy loan, loan interest or any other dues and applicable taxes, if any.

Rider

No riders are available under this product.

Loan

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) as on 31 st March every year + 2% rounded to the nearest 1%. The current interest rate applicable on loans is 9% per annum compounded half-yearly for the Financial Year 2024-25. Please contact Us or Our nearest branch for information on the latest interest rate on loans.

Terms and Conditions

Lapse:

Not Applicable as it is a single premium product.

Paid up:

Not Applicable as it is a single premium product.

Revival:

Not Applicable as it is a single premium product.

Surrender:

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 and may be reviewed annually by the company in accordance with the applicable IRDAI regulations in this behalf. The policy terminates on surrender and no further benefits are payable under the policy.

Vesting of the policy in case of Policies Issued To Minor Lives.

The policy vests on the life assured on the policy anniversary coinciding with or immediately following the 18th birthday of the life assured. 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 and Assignment

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.

Grievance Redressal Processes

In case you have any grievances on the solicitation process or on the Product sold or any of the Policy servicing matters, you may approach the Company in one of the following ways:

  • Calling the Customer helpline number 1800-102-2355 for assistance and guidance
  • Emailing at care@futuregenerali.in
  • You may also visit us at the nearest Branch Office. Branch locator - https://life.futuregenerali.in/branch-locator/
  • Senior citizens may write to us at the following id: senior.citizens@futuregenerali.in for priority assistance
  • You may write to us at:
    Customer Services Department
    Future Generali India Insurance Co. Ltd,
    Unit 801 and 802, 8th floor, Tower C,
    Embassy 247 Park, L.B.S Marg, Vikhroli (W),
    Mumbai – 400083

We will provide a resolution at the earliest. For further details please access the link: https://life.futuregenerali.in/customer-service/grievance-redressal-procedure

Exclusions

Suicide exclusion:

In case of death of Life Assured due to suicide within 12 months from the date of commencement of risk 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 at least 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.

Prohibition on rebates:
Section 41 of the Insurance Act 1938 as amended from time to time states:
  1. No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.
  2. Any person making default in complying with the provisions of this section shall be liable for a penalty which may extend to ten lakh rupees.
Fraud and Misstatement
Section 45 of the Insurance Act 1938, as amended from time to time, states:
  1. No policy of Life Insurance shall be called in question on any ground whatsoever after the expiry of 3 years from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later.
  2. A policy of Life Insurance may be called in question at any time within 3 years from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later, on the ground of fraud.

For further information, Section 45 of the Insurance Laws (Amendment) Act, 2015 may be referred.

Why choose us?

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.

Disclaimer

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.

Life Coverage is included in this Product. If you have any request, grievance, complaint or feedback, you may reach out to us at care@futuregenerali.in For further details please access the link: https://life.futuregenerali.in/customer-service/grievance-redressal-procedure.

Future Generali India Life Insurance Co. Ltd. (IRDAI Regn. No. 133) CIN:U66010MH2006PLC165288
Regd. and Corporate Office address: Future Generali India Life Insurance Co. Ltd, 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 800 102 23

Website: life.futuregenerali.in

Fax: 022-40976600

UIN: 133N101V02

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