Future Generali Flexi Online Term Plan

In case of death any time during the policy term, Jeevan's nominee will receive Rs. 1,00,00,000 as a one-time Lump Sum payout. The policy will end after the payment is made.

In case his death happens immediately after payment of 7th annual premium, i.e. when he has turned 41 years old, his nominee would start receiving 50,000 every month, till such time when Jeevan would have attained 60 years of age.

In case of death during the policy term, Jeevan's nominee will receive a fixed amount every month, similar to Jeevan's monthly Income, for a period till Jeevan would have attained 60 years of age or for 120 months from the date of death, whichever period is higher.

Alternately, Jeevan's nominee has an option to take all monthly instalments as a lump sum at the time of claim settlement. All monthly payouts will be discounted at 6.5% per annum compounded. The option of taking lump sum benefit cannot be exercised once the fixed income protection payment has commenced.

*Tax laws are subject to change

In case his death happens immediately after paying 7th annual premium, i.e. when he has turned 41 years old, his nominee would start receiving Rs 80,000 every month in the 7th policy year, which will increase every subsequent year, at a simple rate of 10% of the monthly payout chosen at inception, till such time when Jeevan would have attained 60 years of age.

Your coverage increases every year under this option to secure you and your family from the impact of rising costs due to inflation. You can choose the monthly amount which will increase at a simple interest rate of 10% from second policy year and thereafter every policy year.

In case of your death during the policy term, the increased monthly amount corresponding to the policy year of death will start getting paid to your nominee and this amount will still continue to increase every year for the period till you would have attained 60 years of age or for 120 months from date of death, whichever is higher.

Your nominee also has an option to take the monthly payouts as a Lump Sum benefit at the time of claim settlement. All monthly payouts will be discounted at 6.5% per annum compounded. The option of taking Lump Sum benefit cannot be exercised once the Increasing Income Protection payment has commenced.

The Death Sum Assured shall be the higher of:
1. 10 times Annualised Premium(excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any) , or
2. 105% of total premiums paid (excluding any extra premium, any rider premium and taxes) as on date of death ,or
3. Absolute amount payable on death which is equal to the Sum Assured
Where Sum Assured is equal to
• Option 1: - Sum Assured chosen at the outset
• Option 2:- Discounted value of fixed Income protection payments as on date of death discounted at a rate of 6.5% p.a. compounded yearly
• Option 3:- Discounted value of increasing Income protection payments as on date of death discounted at a rate of 6.5% p.a. compounded yearly.

*Tax laws are subject to change

Supposing his death happens after he has paid 7 annual premiums, i.e. when he has turned 41 years old, his nominee would receive a Lump Sum payment of Rs. 1,00,00,000 at the time of claim settlement. Additionally, his nominee would also start receiving 80,000 every month in the 7th policy year. This amount will increase every subsequent year at a simple rate of 10% of the monthly payout chosen at inception, till such time when Jeevan would have attained 60 years of age.