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Future Generali POS Term with Return of PremiumThis is a Non-Linked, Non-Participating Point of Sale, Life Insurance Plan with Return of Premium.
UIN: 133N067V01

Future Generali POS Term with Return of PremiumThis is a Non-Linked, Non-Participating Point of Sale, Life Insurance Plan with Return of Premium.UIN: 133N067V01

  • Entry Age (as on last Birthday)

    18 years - 50 years

  • Maturity Age

    28 years - 65 years

  • Policy Term

    10 year - 35 years

  • Premium Payment Term

    10 years - 15 years

  • Sum Assured

    Minimum - Rs2,00,000 Maximum - Rs10,00,000
    (Sum Assured shall be in multiples of Rs50,000 only)

  • Premium amount

    Minimum Premium:
    Rs3,000# annually
    Rs2,000# half-yearly
    Rs1,000# quarterly
    Rs500# monthly
    Maximum Premium: 
    Rs52,150#

  • Premium Payment Frequency

    Yearly, Half Yearly, Quarterly & Monthly

WHY BUY THIS POLICY?

Lump sum Death Benefit

You can choose the amount of insurance cover that your family will require in case of your unfortunate demise


Select your own Policy Term and Premium Payment Term

The plan gives you the flexibility to choose the period of protection and the period of premium payment.


Assured return of premium

On survival, at the end of the policy term, you will receive back assured return of 100% of the total premiums you have paid (excluding taxes, modal loading and extra underwriting premium, if any)


Tax benefits

Tax Benefits under section 80C and 10 (10D) may be available as applicable. Tax Benefits are subject to change as per law from time to time. Please consult your tax advisor for more details


Lower premium rates for female lives

How it Works

Step1Choose the amount of insurance cover (Sum Assured) you desire under this policy
Step2Choose the duration of cover (Policy Term) and Premium Payment Term as per your convenience
Step3Get your premium calculated, fill the application form and get a customised quote. Our advisor will help you with the calculations
Step4Start paying premiums regularly and stay financially protected
;

Plan Summary

ParameterCriterion
Entry Age (as on last Birthday) 18 years - 50 years
Maturity Age 28 years - 65 years
Policy Term 10 year - 35 years
Premium Payment Term 10 years - 15 years
Sum Assured Minimum - Rs2,00,000 Maximum - Rs10,00,000 (Sum Assured shall be in multiples of Rs50,000 only)
Premium Payment Frequency Yearly, Half Yearly, Quarterly & Monthly
Premium amount Minimum Premium: Rs3,000# annually
 Rs2,000# half-yearly
 Rs1,000# quarterly
 Rs500# monthly
Maximum Premium: Rs52,150#
Premium rates for female lives An age setback of two years shall be applied to female lives for calculation of the premium rates.
For females lives aged 18 & 19 years, premium rates of 18 years male shall apply.

 

Note:
Premiums mentioned above are excluding taxes, modal loading and extra premium paid as a part of underwriting requirements, if any.

BENEFITS

     
  1. Death Benefit
           
    In case of unfortunate demise of Life Assured, during the Policy Term, the nominee shall receive Death Sum Assured, except for non-accidental death during first 90 days of the policy.
           
    In case of death due to accident, no waiting period shall apply and Death Sum
    Assured shall be payable.
           
    The Death Sum Assured shall be highest of the following:
                   
    1. i. 10 times Annualised Premium (excluding taxes and extra underwriting premiums, if any), or
    2.                    
    3. ii. 105% of total premiums paid as on date of death (excluding taxes and extra underwriting premiums, if any) ,or
    4.                    
    5. iii. Guaranteed Maturity Sum Assured; or
    6.                    
    7. iv. Absolute amount assured to be paid on death which is equal to the Sum Assured
    8.      
    Where Sum Assured is equal to Sum Assured chosen by the Life Assured
           
    Guaranteed Maturity Sum Assured is equal to 100% of total premiums paid (excluding taxes, modal loading and extra underwriting premium, if any)
           
    The Death Benefit shall be paid to the nominee as a lump sum in the event of death.
           
    Waiting Period: The policy has a 90 day waiting period from the date of acceptance of risk within which, if death occurs (other than due to accident), the nominee will receive 100% of the premiums paid till the date of death excluding taxes. During this period the Death Sum Assured will not be payable.
           
    Policy will terminate on payment of death benefit.
Let's understand this benefit with the help of an example:
       
  Anil is a 30 year old healthy man. He makes the following choices while buying the Future Generali POS Term with Return of Premium Plan.        
                
  • Sum Assured: Rs5,00,000
  •              
  • Coverage Term: 35 years
  •              
  • Premium Payment Term: 15 years
  •              
  • Premium Payment Frequency: Yearly      
  •    
  Premium Payable:
       
  As per the choices made above, his annual premium works out to Rs4,345# (excluding taxes)
       
  Benefit payable:
       
  If Anil's death occurs in the 2nd policy year after paying his premium for initial 2 years, the benefit payable to Anil's nominee(s) will be:
           
                
  • Lump sum of Rs5,00,000
  •    
     

 

                
  1. Maturity Benefit:
             
    If you have paid all your due premiums, you will receive a Maturity Benefit on survival, at the end of the Policy Term. You will receive Guaranteed Maturity Sum Assured which is equal to 100% of total premiums payable (excluding taxes, modal loadings and extra underwriting premium, if any) under the policy.
             
    The policy terminates on payment of maturity benefit.
             
    Let's understand this benefit with the help of the previous example:

             
    Benefit payable:
             
    If Anil survives till the end of thepolicy term of 35 years then he is entitled toreceive Rs65,175 as Maturity Benefit provided that he has paid all his premiums for15 years.
         
             
  2.    

Target Group

For the customers who are looking for tax saving whole life insurance plan that offers dual benefits of Lumpsum benefit alongwith potential upside through bonuses and cover till 100 years of age.

# Goods and Services Tax of 4.5% in the first year and 2.25% in the subsequent years will be applicable over and above this premium

Exclusions

Suicide exclusion:

If the life assured commits suicide within 12 months from the date of
inception of the policy, 80% of the Premium paid will be payable to the nominee or
beneficiary/legal heirs, provided the policy is in-force.
If the life assured commits suicide within 12 months from the revival date, higher of 80% of the
premiums paid till the date of death or the surrender value ,if any, will be payable to the nominee or
beneficiary/legal heirs.

Waiting Period :

The policy has a 90 day waiting period from the date of acceptance of risk within
which, if death occurs (other than due to accident), the nominee will receive 100% of the
premiums paid till the date of death excluding taxes. During this period the Death Sum Assured
will not be payable. In case of death due to accident, no waiting period shall apply and Death Sum
Assured shall be payable.

DISCLAIMERS

Future Generali POS Term with Return of Premium (UIN: 133N067V01)

  • 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 Period

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 of policy document for cancellation, stating your objections. Future Generali will refund the premium paid after the deduction of proportionate risk premium for the period of cover, stamp duty charges and cost of medical examination, if any.

Note: Distance Marketing means insurance solicitation/lead generation 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.

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