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Future Generali Bima Gain

Future Generali Bima Gain

Bima Gain Plan
  • Premium Payment:

    One-time lump sum premium

  • Maturity Benefit:

    Fund Value

  • Death Benefit:

    Sum Assured plus Fund Value

  • Surrender Benefit after 5 Policy Years:

    Fund Value

  • Age at Entry:

    8 to 65 years

  • Policy Term:

    10 years

  • Switches:

    Yes

  • Settlement Option:

    Yes

  • Tax Benefit:

    Only available if the Sum Assured is 10 times the single premium

WHY BUY THIS POLICY?

  • A single payment helps you meet dual objectives of wealth creation and life protection.
  • It offers you six different fund options between debt, equity and balanced assets to suit your varying risk profile.
  • It allows you to make the most of the opportunities in the market by switching from one fund to another.
  • You can withdraw money from your fund anytime after 5 years without any charges.

How it Works

The plan offers you market-linked returns with various fund options. Here are the steps to invest in Future Generali Bima Gain:

Step1Choose the amount you want to invest
  • Based on your current cash flows and financial plans, decide the amount you want to invest.
Step2Choose the Sum Assured
  • For this plan, the fixed Policy Term of 10 years is provided. Depending on your age, you can choose a cover between 1.25 to 10 times the single premium amount.
Step3Choose the fund options
  • Depending on the extent of the risk you wish to take, choose any or all of the six available funds.
Step4Pay the premium
  • Fill up the proposal form and pay the premium.
;

Fund Options

Fund Name Risk Profile Investment Objective Portfolio Allocation
Future Secure Fund
(SFIN: ULIF001180708FUTUSECURE133)
Low Risk Provide stable returns by investing in relatively low risk assets. 100% in Money Market, Cash and Short-Term Debt
Future Income Fund
(SFIN: ULIF002180708FUTUINCOME133)
Low Risk Provide stable returns by investing in assets of relatively low to moderate level of risk. The fund's return depends on the interest received from the investments. 100% in Fixed Income Investments and Money Market Instruments
Future Balance Fund
(SFIN: ULIF003180708FUTBALANCE133)
Medium Risk Provide balanced returns by investing in both; fixed interest securities as well as in equities. While fixed interest securities offer stability of return, equities provide growth in capital. The fund will also invest in money market instruments to provide liquidity.
  • Equity Instruments: 30% - 90%
  • Fixed Income and Money Market Instruments: 10% - 70%
Future Maximize Fund
(SFIN: ULIF004180708FUMAXIMIZE133)
High Risk Provide potentially high returns to unit holders by investing primarily in equities to target growth in capital value of assets. The fund will also invest, to a certain extent, in government securities, corporate bonds and money market instruments.
  • Equity Instruments: 50% - 90%
  • Fixed Income Including Cash and Money Market Investments: 10% - 50%
Future Apex Fund
(SFIN: ULIF010231209FUTUREAPEX133)
High Risk Provide potentially high returns to unit holders by investing primarily in equities to target growth in capital value of assets. The fund will also invest, to a certain extent, in government securities, corporate bonds and money market instruments.
  • Equity Instruments: 50% - 100%
  • Fixed Income and Money Market Investments: 0% - 50%
Future Opportunity Fund
(SFIN:ULIF012090910FUTOPPORTU133
High Risk Generate capital appreciation and provide long-term growth opportunities by investing in a portfolio predominantly of equity and equity-related instruments generally in S&P CNX Nifty stocks, and to generate consistent returns by investing in debt and money market instruments.
  • Equity Instruments: 80% - 100%
  • Fixed Income and Money Market Investments: 0% - 20%

 

BENEFITS

Death Benefit

  • In the unfortunate event of the Life Assured passing away, his/ her nominee will receive the Fund Value (market value of the investment) and the Sum Assured. At no time can this amount can be lesser than 105% of the premiums paid.

Maturity Benefit

  • On maturity of the policy, the Fund Value (market value of the investment) as on the date of maturity is paid.

Surrender Benefit

  • There is no liquidity or Surrender Value in the first 5 years of the policy. If you surrender the policy after 5 years, you receive the Surrender Benefits (market value of the investment) without any charges.

Target Group
For customers looking for an investment cum insurance plan that will also help them save taxes

Eligibility

Age at Entry8 to 65 years Age at Maturity18 to 75 years Policy Term10 years Premium Range (Minimum to Maximum) Minimum: 50,000/-
Maximum: 20 lakhs
Sum Assured Range (Minimum To Maximum)
    • Ages 8 to 47 years: 1.25 to 10 times the premium paid

  • Ages 48 to 65 years: 1.25 times the premium paid

 

Charges

Charges Description of Charges
Allocation Charge Deducted as a percentage from your premium before investing your money.
2% of Single Premium
Policy Administration Charge This charge is expressed as a percentage of the annualised premium and is deducted monthly (first business day of monthly cycle) by cancelling units.
Year 1 : 2.5% of single premium, subject to a maximum of 6,000/- per annum
Year 2 to 5: 1.68% of single premium, subject to a maximum of 4,000/- per annum
Year 6 to 10: Nil
Fund Management Charge Fund management charges will be charged at the time of computating the NAV , which will be done on the daily basis. This will be charged as a percentage of the value of the assets and will be adjusted in the NAV.

Future Secure Fund 1.10% per annum
Future Income Fund 1.35% per annum
Future Balance Fund 1.35% per annum
Future Apex Fund 1.35% per annum
Future Opportunity Fund 1.35% per annum
Future Maximize Fund 1.35% per annum
Mortality Charge Deducted monthly (first business day of monthly cycle) for life cover by cancelling units. Following are sample mortality charges per Rs. 1,000/- sum at risk.

Age Mortality Charge
25 years 1.09
35 years 1.42
45 years 3.17
55 years 8.68
Sum at risk at any point of time is equal to the Sum Assured
Discontinuance Charge In case of discontinuance of the policy, the following discontinuance charges will apply:

Year 1: Lower of 1% x (SP or FV), subject to a maximum of 6,000/-
Year 2: Lower of 0.5% x (SP or FV), subject to a maximum of 5,000/-
Year 3: Lower of 0.25% x (SP or FV), subject to a maximum of 4,000/-
Year 4: Lower of 0.1% x (SP or FV), subject to a maximum of 2,000/-
Year 5 onwards: Nil

SP is Single Premium and FV is Fund Value
Other Charges
    • Up to 12 switches per year are free. Additional switches will attract a charge of Rs. 100/- per switch.

    • Up to 4 withdrawals per year are free. Additional partial withdrawals will attract a charge of Rs. 200/- per partial withdrawal.

  • Policy alteration is charged at Rs. 250/-

Note: Goods & Services Tax is applicable on the above charges as per the prevailing tax rules. A notice period of one month is given to the policyholder in case of an increase in charges. This increase, if any, will apply from the policy anniversary coinciding with or following the increase. Any change in amount or rate of charges as stated above will be subject to IRDA approval.

EXCLUSIONS

Suicide Exclusion: In case the Life Assured commits suicide within the first year of the policy, only the Fund Value (market value of investments) will be paid and the policy will be terminated.

DISCLAIMERS

Future Generali Bima Gain(UIN: 133L048V01)

  • Unit Linked Life Insurance Products are different from the traditional insurance products, as in the former, the investment risk in the investment portfolio is borne by the policyholder.
  • 'Future Generali India Life Insurance Company' is only the name of the insurance company and 'Bima Gain' is only the name of the Unit Linked Life Insurance Contract and does not in any way indicate the quality of the contract, or its future prospects of return.
  • Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document of the insurer.
  • The various funds offered under this contract are the names of the funds and do not in any way reflect their quality, or its future prospects of return.
  • The premium paid in Unit Linked Life Insurance Policies are subject to investment risks associated with the capital markets and the NAVs of the units may go up and down based on the performance of the fund and the factors influencing the capital market and the insured is responsible for his/ her decision.
  • Past performance of the funds is no indication of future performance which may be different.
  • All premiums/ benefits payable under this plan are subject to applicable laws and taxes including Goods & Services Tax, as they exist from time to time.
  • 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:
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.

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