Choose the Death Benefit option and amount of insurance cover you desire under this policy.
Choose the Policy Term and Premium Payment Term as per your financial goal.
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.
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-
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.
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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:
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.
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:
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:
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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.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.
Terminal Bonus:Â 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.
Suicide exclusion:Â 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.
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:
We will provide a resolution at the earliest. For further details please access the link: https://life.futuregenerali.in/customer-service/grievance-redressal-procedure
Parameter | Criterion | |||||||||||||||
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Entry Age (as on last Birthday) | 3 years – 55 years | |||||||||||||||
Maturity Age | 18 years - 70 years
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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)
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Sum Assured | Minimum – Rs. 1,00,000 Maximum – No Limit |
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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 |
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Future Generali New Assure Plus
UIN: 133N065V03
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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.
If the Policy is opted through Insurance Repository (IR), the computation of the said Free Look Period will be as stated below:-
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 2024-25 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 and 10(10D) as applicable. For further details, consult your tax advisor. Tax benefits are subject to change from time to time.
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.
The fine print in a policy can come in the way of making an informed purchase. We’ve simplified the fine print into big print.
Read the terms and conditions carefully. Ensure that your current health, occupation or lifestyle habits do not exclude you from getting the policy benefits.
Do's and don’ts to protect your life insurance policy from unauthorised elements posing as company representatives.
Find out how prepared you are to meet your financial goals, with our FutureReady calculator.
Buying a life insurance policy without asking your advisor the right questions is as good as crossing a road blindfolded.