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-

• 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
• 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. 48,055 premium (excluding taxes) annually for a term of 15 years.

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 the total premiums paid (excluding taxes, rider premiums and extra premiums, if collected explicitly) 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.

• 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 the total premiums paid (excluding taxes, rider premiums and extra premiums, if collected explicitly) as on date of death; and
  • Death Sum Assured
• 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.

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:

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.

Little Priveleges Just For You

Large Sum Assured Discount

Free Lock Period
In case you disagree with any of the terms and conditions of the policy, you can return the policy within 30 days of its 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(e IA) 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
A grace period of 30 days from the premium due date will be allowed for payment of premiums for annual, quarterly and half-yearly premium payment mode and 15 days from the premium due date for monthly premium payment mode. During the grace period, the policy will remain in-force and shall be entitled to receive all the benefits subject to deductions of due premiums.

Flexibility to make changes in Premium Payment Frequency
You can change your premium payment frequency subject to minimum eligibility criteria. Such change shall be applicable on the Policy Anniversary.
The premiums for various modes as up to a percentage of annual premium are given below:

• Half-yearly Premium – 52.0% of annual premium
• Quarterly Premium - 26.5% of annual premium
• Monthly Premium - 8.83% of annual premium

There shall be no charge made for the change of premium payment mode.
The Company will offer waiver of modal premium loadings for Annualized Premium of Rs. 1 crore and above.

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 85% 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 current market interest rate on 10-year Government Securities (G-Sec) as on 31st March every year + 2% rounded to 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 latest interest rate on loans.

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

Revival

• You have the option to revive a lapsed/paid-up policy within 5 years from the date of the first unpaid due premium.
• Revival of a Policy cannot be done once the Policy Term is over.
• The revival will be effected as per the Board approved underwriting policy.
• The simple interest rate charged is 9% p.a. for FY 2024-25. The revival interest rate shall be determined by the Company from time to time based on current market interest rate on 10-year Government securities (G-Sec) as on 31st March every year + 2% rounded to nearest 1%. The interest rate applicable for the financial year will be declared at start of the financial year. However, the Company may decide to increase the interest charged on revival from time to time with prior approval from IRDAI.

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 death of the Policyholder while the Life Assured is a minor, the surviving parent/ legal guardian may be appointed as a new Policyholder. In case the policy is in Paid-Up status or upon non-payment of future premiums, provisions as mentioned above shall apply.

Exclusion

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.

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:

• (a) Calling the Customer helpline number 1800-102-2355 for assistance and guidance.
• (b) Emailing @ care@futuregenerali.in
• (c) You may also visit us at the nearest Branch Office. Branch locator - https://life.futuregenerali.in/branch-locator/
• (d) Senior citizens may write to us at the following id: senior.citizens@futuregenerali.in for priority assistance
• (e) 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

Disclaimer

Future Generali New Assure Plus
UIN: 133N065V03

This Product is not available for online sale.Life Coverage is included in this Product. 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. 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 Group’s and Generali Group’s liability is restricted to the extent of their shareholding in Future Generali India Life Insurance Company Limited. Future Generali India Life Insurance Co. Ltd. (IRDAI Regn. No. 133), CIN: U66010MH2006PLC165288, Regd. and Corporate Office address: Unit 801 and 802, 8th floor, Tower C, Embassy 247 Park, L.B.S. Marg, Vikhroli (W), Mumbai – 400 083 | Email: care@futuregenerali.in | Call us at 1800-102-2355 | Website: life.futuregenerali.in | Fax: 022-40976600 | UIN: 133N065V03