•  
  • 1800-102-2355
  • Contact Us
  • Pay your
    Premium
    Pay your Premium

    Pay your premium online


    Other payment options

  • CALCULATORS
    Calculator

    Human Life Value Calculator

    Future Ready Calculator

    Premium Calculator / Benefit Illustration

    Future Ready Calculator


  • Send an
    Advisor
    Send an Advisor

    *City
    Click to Change image
Get ePolicy
Buy Life Insurance Online

Future Generali New Assure PlusThis is a non- linked participating life insurance plan
UIN: 133N065V01

Future Generali New Assure PlusThis is a non- linked participating life insurance planUIN: 133N065V01

Future Generali New Assure Plus
  • Entry Age

    3 years - 55 years

  • Maturity Age

    18 years - 70 years

  • Policy Term

    10 to 30 years

  • Premium Payment Term

    5 years - 30 years

  • Sum Assured

    Minimum - Rs1,00,000 Maximum - No Limit

  • Premium Payment Frequency

    Yearly, Half Yearly, Quarterly & Monthly

  • Premium amount

    Minimum Annualized Premium- Rs10,000 subject to Minimum SA of Rs1,00,000

    Maximum Premium- No Limit

Why Buy

  • Flexibility to choose any combination of Policy Term and Premium Payment Term based on your financial goals.
  • Opportunity to enhance your Maturity Payout by way of Bonuses.
  • Option to choose between 2 Death Benefit Payout Options.
  • Tax Benefits under section 80C and 10(10D) as per the prevailing tax laws.

How it Works

Step1Choose the benefit amount, i.e. the Sum Assured

Choose the Death Benefit option and amount of insurance cover you desire under this policy.

Step2Choose the Policy Term and Premium Payment Term

Choose the Policy Term and Premium Payment Term as per your financial goal.

Step3Receive and review

Our sales representative will help you calculate your Premium and provide you a customised Benefit
Illustration – a detailed break-up of what you pay and what you get.

;

BENEFITS

Maturity Benefit:

Once your policy matures at the end of the Policy Term and if you have paid all your due premiums, you will receive Maturity Benefit as per the chosen option-

  1. Option 1
    • Guaranteed Maturity Sum Assured equal to Sum Assured plus Vested Compound Reversionary Bonuses, if any, plus Terminal Bonus, if any, shall be paid
  2. Option 2:
    • Guaranteed Maturity Sum Assured equal to Sum Assured plus Vested Compound Reversionary Bonuses, if any, plus Terminal Bonus, if any, shall be paid
    • Even in case of death of the Life Assured, the Maturity Benefit will be payable if all Installment premiums due till date of death of the Life Assured have been received in full.

Let’s understand this benefit with the help of an example:

Amit is 35 years old and has purchased New Assured Plus – Option 2. He has opted for Rs. 7,00,000 Sum Assured for a Policy Term of 20 years and Premium Payment Term of 15 years. He pays Rs. 50,217 premium (including Goods and Service tax) annually for a term of 15 years.

new assure plus

 

Guaranteed Benefit (Rs)

Variable Compound Reversionary
Bonus, if any (Rs)

Total Benefit (Rs)

At 8%

7,00,000

6,92,852

13,92,852

At 4%

7,00,000

1,54,133

8,54,133

Please Note: Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your life insurance company. These assumed rates of return 8% and 4%, are not guaranteed and they are not upper or lower limits of what you might get back as the value of your policy is dependent on a number of factors including future investment performance.

Death Benefit during the Policy Term

Death Benefit in this plan secures your family in case of your unfortunate demise during the Policy Term. You have the option to choose between two Death Benefit Payout options

Option 1 – Lumpsum Death Benefit Payout:

Under this option, Death Benefit payable to your nominee shall be higher of:

  • 105% of all the premiums paid (excluding taxes, rider premiums and extra premiums, if any) as on date of death; and
  • Death Sum Assured plus vested Compound Reversionary Bonuses, if any plus Terminal Bonus, if any.

The Policy will terminate on payment of Death Benefit under Option 1

Option 2 – Lumpsum Death Benefit with Maturity Payout

Under this option, two payouts will be made to your nominee.

  1. Lumpsum Death Payout: The first payout which is the Lumpsum Death Payout will be paid at the time of death. Death Benefit payable to your nominee shall be higher of:
    • 105% of all the premiums paid (excluding taxes, rider premiums and extra premiums, if any) as on date of death; and
    • Death Sum Assured
  2. Maturity payout: The second payout equal to Guaranteed Maturity Sum Assured plus Reversionary Bonus (if any) plus Terminal Bonus (if any) will be paid at the time of Maturity of the Policy i.e. at the end of the Policy Term. The payout at the time of maturity is made, because the policy continues after the death of the insured person. No further premiums are payable under the policy after the death of the Life Assured. The policy continues to participate in profits even after the death of the Life Assured.

Nominee shall not have any right to avail loan, assignment and surrender as available to Policyholder under the Policy.

Death Sum Assured is defined as Higher of:

  1. 10 times Annualised Premium
  2. Guaranteed Maturity Sum Assured, which is equal to sum assured
  3. Absolute Amount payable on death, which is equal to sum assured

Note: The premiums above exclude taxes, rider premiums and extra premiums, if any as these are collected separately in addition to the regular premium for this product.

Let’s understand this benefit with the help of the previous example:

It is assumed that the death occurs in the 2nd policy year. The benefit payable to Amit’s nominee(s) will be:

new assure plus

 

Guaranteed Benefit (Rs)

Variable Compound Reversionary
Bonus, if any (Rs)

Total Benefit (Rs)

At 8%

7,00,000

6,92,852

13,92,852

At 4%

7,00,000

1,54,133

8,54,133

Please Note: Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your life insurance company. These assumed rates of return 8% and 4%, are not guaranteed and they are not upper or lower limits of what you might get back as the value of your policy is dependent on a number of factors including future investment performance.

Compounded Reversionary Bonus: At the end of each financial year, the Company may declare a bonus expressed as a percentage of the Sum Assured and all previous bonuses declared. The bonus of each year is added to the Sum Assured and the next year’s bonus is calculated on the enhanced amount.

Terminal Bonus: The Company may declare a terminal bonus which may be payable on death or on maturity of the plan.

Large Sum Assured Discount

 

Discount on premium per Rs.1000 Sum Assured

Sum Assured/Premium Payment Term

5

6-10

11-15

16-20

21-30

1,00,000-1,99,999

Nil

2,00,000-4,99,999

6

4

1

0

0

5,00,000 and above

11

8

5

3

2

Target Group
For the customers who are looking for tax saving life insurance plan that offers flexibility of paying for a limited period and staying invested for a longer period to reap higher benefits with potential upside through bonuses.

EXCLUSION

Suicide exclusion: If the Life Assured commits suicide within one year from the plan inception date, only 80% of the premiums paid will be payable as Death Benefit. If the Life Assured commits suicide within one year from the revival date of the plan, if revived, the higher of, 80% of the premiums paid till the date of death or surrender value, will be payable as Death Benefit.

Eligibility

Parameter

Criterion

Entry Age (as on last Birthday)

3 years – 55 years

Maturity Age

18 years - 70 years
  • For minor life assured having age less than 8 years , minimum policy term to be 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 to be chosen shall be between 10 years to 30 years, both inclusive.
  • For life assured having age greater than 40 years, maximum policy term to be chosen shall be equal to (70 less age at entry) years.

Policy Term

10 to 30 years

Premium Payment Term

Benefit Payout Option 1: 5 years to Policy term (including both)

Benefit Payout Option 2: 5 years to (Policy term less 5 years) (including both)

Premium Paying TermPolicy Term
Option --> Benefit Payout Option 1 Benefit Payout Option 2
5 to 9 10 years to 30 years Premium paying term + 5 years to 30 years
10 to 25 Premium paying term to 30 years Premium paying term + 5 years to 30 years
26 to 30 Premium paying term to 30 years Not Applicable

Sum Assured

Minimum – Rs. 1,00,000
Maximum – No Limit

Premium Payment Frequency

Yearly, Half Yearly, Quarterly & Monthly

Premium amount

Minimum Annualized Premium- Rs. 10,000 subject to Minimum SA of Rs. 1,00,000
Maximum Premium - No Limit

 

DISCLAIMERS

Future Generali New Assure Plus
UIN: 133N065V01

  • Tax benefits are subject to change as per tax laws.
  • For more details on the risk factors and the terms and conditions please read the sales brochure and/ or sample policy document on our website carefully, and/ or consult your advisor before concluding the sale.
  • Insurance is the subject matter of solicitation.

 

FREE LOOK CANCELLATION:
In case you disagree with any of the terms and conditions of the policy, you can return the policy
to the Company within 15 days (30 days if the policy is sold through the Distance Marketing
Mode) of its receipt for cancellation, stating your objections. Future Generali will refund the policy
premium after the deduction of proportionate risk premium for the period of cover, stamp duty
charges, cost of medical examination, if any.


Note: Distance Marketing means insurance solicitation by way of telephone calling/ 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.

 

Grace Period
You get a grace period of 30 days for Yearly, Half yearly and Quarterly Premium Payment
Frequency and 15 days for Monthly Premium Payment Frequency from the premium due date to
pay your missed premium. During these days, you will continue to be covered and be entitled to
receive all the benefits subject to deduction of due premiums.

 

Flexibility to make changes
We allow you to make change in the mode of premium payment under the policy which shall be
applicable from the next policy anniversary.

Loan
You may avail of a loan once the policy has acquired surrender value. The maximum amount of
loan that can be availed is up to 85% of the Surrender Value. For more details, please refer the
policy document.
The current interest rate for the financial year 2017-18 applicable on loans is 9% per annum
compounded half yearly. Please contact our branch office or call us to know the current
applicable interest rate.


Tax Benefits
Premium(s) paid are eligible for tax benefit as may be available under the provisions of
Section(s) 80C, 80 CCC (1), 80D, 10(10D) as applicable. For further details, consult your tax
advisor. Tax benefits are subject to change from time to time.

\
X