In this policy, the investment risk in the investment portfolio is borne by the policyholder. The linked insurance products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender/withdraw the monies invested in linked insurance products completely or partially till the end of the fifth year.
This is an Individual, Unit Linked, Non-Participating(without profits), Life Insurance Plan.
Regular premium throughout the Policy Term
Fund Value at maturity
Higher of Sum Assured less deductible partial withdrawal, if any or Fund Value or 105% of premiums paid till date of death less deductible partial withdrawals, if any
7 to 65 years
10 to 30 years
Yearly, Half Yearly, Quarterly and Monthly
Protection + Wealth Creation
We always want to get the most out of everything we buy. Why should it be any different when you choose an insurance plan? Future Generali Bima Advantage Plus is an individual, unit-linked, non participating life insurance plan that not only helps you build wealth, but also offers you the added advantage of protection. It also offers a wide choice of investment funds to match your risk appetite and a host of other flexible options for your unique needs. So, don't settle for just any ULIP. Demand more with Future Generali Bima Advantage Plus.
Based on your financial /savings plan, decide the amount you want to invest as premium for the desired policy term.
Based on your life cover requirement choose your sum assured multiple.
Depending on your risk appetite, you can choose to invest in any or all the seven available funds.
Your premium, net of applicable charges, is invested in unit funds of your choice. This plan provides for seven investment funds, thereby, adding flexibility in directing your investments to any or all following unit linked funds of the company. The funds invest in a mix of cash/other liquid assets, fixed income securities and equity investments in line with the objective of the fund.
|Future Secure Fund
|Objective||To provide stable returns by investing in relatively low risk assets. The fund will invest exclusively in treasury bills, bank deposits, certificate of deposits, other money market instrument and short duration govt. securities.
|Future Income Fund
|Objective||To provide stable returns by investing in assets of relatively low to moderate level of risk. The interest credited will be a major component of the fund’s return. The fund will invest primarily in fixed income securities, such as Govt. securities of medium to long duration and Corporate Bonds and money market instruments for liquidity.
|Future Balance Fund
|Objective||To provide a balanced return from investing in both fixed interest securities as well as in equities so as to balance stability of return through the former and growth in capital value through the latter. The fund will also invest in money market instruments to provide liquidity. The risk profile of the fund is moderate.
|Future Apex Fund
|Objective||To 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 govt. securities, corporate bonds and money market instruments. The risk profile of the fund is high.
|Future Maximize Fund
|Objective||To 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 govt. securities, corporate bonds and money market instruments.
|Future Opportunity Fund
|Objective||To generate capital appreciation & provide long term growth opportunities by investing in a portfolio predominantly of equity & equity related instruments generally in S & P CNX Nifty stocks and to generate consistent returns by investing in debt & money market instruments. The risk profile of the fund is high.
|Future Midcap Fund
|Objective||The investment objective of this fund is to generate long-term capital appreciation by investing predominantly in equity and equity related securities of mid cap companies.
On maturity of the policy, the fund value as on the date of maturity is payable to the life assured.
In case of an unfortunate demise of the life assured during the policy term while the policy is in force, the nominee receives the higher of
Deductible partial withdrawals are
Policy can be surrendered any time during the Policy Term. The Surrender Value will be Fund Value less Discontinuance Charge, if any, as mentioned below:
Surrender Before Completion of 5 Policy Years
Surrender After Completion of 5 Policy Years
For customers looking for an investment cum insurance plan that will also help them save taxes
|Age at Entry(as on last birthday)||7 to 65 years|
|Age at Maturity (as on last birthday)||18 to 75 years|
|Policy Term||10 to 30 years|
|Premium Paying Term||Same as Policy Term|
|Sum Assured||Minimum Sum Assured
Maximum Sum Assured (as a multiple of Annual Premium)
|Annual Premium||Minimum: 20,000/-
Maximum: No limit, subject to underwriting
|Premium Payment Mode||Yearly, Half Yearly, Quarterly and Monthly|
|Charges||Description of Charges|
|Premium Allocation Charge||The premium allocation charge will be deducted from the premium amount at the time of premium payment and the remaining premium will be used to purchase units in various investment funds according to the specified fund allocation.
Year 1st: 9%
Year 2nd: 5%
Year 3rdonwards: 3%
|Policy Administration Charge||The maximum Policy Administration Charge will not exceed 500/- per month. These charges are determined using 1/12th of the annual charges given above and are deducted from the unit account monthly at the beginning of each monthly anniversary of the policy by cancellation of units for equivalent amount.
Year 1: Nil
Year 2 onwards: 1.6% p.a.
|Fund Management Charge||Fund Management Charges are deducted on a daily basis at 1/365th of the annual charge in determining the unit price. The company may change the Fund Management Charges from time to time with prior approval from IRDAI.
|Mortality Charge||This shall be levied at the beginning of each policy month from the fund. Following are sample mortality charges per Rs. 1,000/- sum at risk.
Mortality Charges are deducted on sum at risk which is calculated as excess of (Higher of (Sum assured less deductible partial withdrawal), 105% of premiums paid less Deductible Partial Withdrawal) over Fund Value.
|Discontinuance Charge||In case of discontinuance/ surrender of the policy during the first 4 policy years, the following charges will apply:
To enhance your financial protection and to secure yourself/your family against accidental disability or demise, we present to you Riders which you may choose as an additional protection. There are two rider options available under this plan Future Generali Linked Accidental Death Rider (UIN: 133A025V01) and Future Generali Linked Accidental Total & Permanent Disability Rider (UIN: 133A026V01). Please refer to respective rider brochures for details. The premium pertaining to health related or critical illness riders shall not exceed 100% of premium under the basic product, the premiums under all other life insurance riders put together shall not exceed 30% of premiums under the basic product and any benefit arising under each of the above mentioned riders shall not exceed the sum assured under the basic product.
Free Look Period
If the policy holder is not satisfied with the terms and conditions of the policy, he can apply in writing to Future Generali for cancellation of the policy within the free look period of 15 days (30 days if the policy is sold through Distance Marketing) from the date of receipt of the policy document, stating the reason for objection. Future Generali will pay a the Fund Value as on the date of cancellation plus non-allocated premium plus charges levied by cancellation of units less deduction for proportionate cost of insurance cover for the period and expenses towards policy stamp duty and medical examination, will be refunded.
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 & magazine inserts or any other means of communication other than in person.
If the Policy is opted through an Insurance Repository (IR), the computation of the said Free Look Period will be as stated below:-
A grace period of 30 days from the premium due date will be allowed for payment of premiums in yearly, half-yearly & quarterly modes and 15 days for monthly mode.The policy will remain in force during the grace period
It is a period of five consecutive completed years from the date of commencement of the policy, during which period the proceeds of the discontinued policies cannot be paid by the insurer to the policyholder or to the insured as the case may be, except in the case of death or upon the happening of any other contingency covered under the policy.
It means the period of three consecutive complete years from the Date of first unpaid premium during which period the Policyholder is entitled to revive the Policy which was Discontinued due to the non-payment of premium.
No benefit will be payable in respect of any condition arising directly or indirectly through or in consequence of the following exclusions and restrictions -
Suicide Exclusion: In case of death due to suicide within 12 months from the date of commencement of the policy or from the date of revival of the policy, as applicable, the nominee or the beneficiary of the policyholder shall be entitled to fund value, as available on the date of intimation of death.
Further, any charges other than Fund Management Charges (FMC) recovered subsequent to the date of death shall be added back to the fund value as on the date of intimation of death.
Future Generali Bima Advantage Plus (UIN: 133L049V03)
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