Future Generali

5 Tax Saving Future Generali Plans for Young Parents

1. Future Generali Assured Education Plan

This is an assured income savings plan for funding the higher education of your children. It allows you to accumulate a corpus until your child turns 17. Future Generali Assured Education Plan can be taken when your child is anywhere between 0 to 10 years of age, making it an attractive option for young parents.

Tax Benefits: Premiums paid are eligible for tax-deduction under Section 80C of the Income Tax Act 1961. The amount received at maturity is not taxable as per Section 10(D) of the ITA if the premium is not more than 10% of the sum assured or the sum assured is at least 10 times the premium

2. Future Generali Wealth Protect Plan (ULIP)

With newborns, one’s financially responsibility grows. Future Generali Wealth Protect Plan is a market-linked life insurance plan that can help you accumulate wealth through market-investments of your choice while keeping you and your loved ones insured.

Tax Benefits: Premiums paid for ULIPs are exempt from taxation under Section 80C. Under Section 10(D), returns at maturity are also tax-exempted. The only condition is that the premium amount should be less than or equal to 10% of the sum assured.

3. Future Generali Flexi Online Term Plan

For young internet-savvy parents, this online term plan provides a term cover of up to 75 years. The policyholder can opt for a lump sum payout on their death, or payouts in instalments to financially secure their family.

Tax Benefits: Premiums paid for term plans are eligible for tax-deductions under Section 8OC if the premium is not more than 10% of the sum assured or the sum assured is at least 10 times the premium

4. Future Generali Heart and Health Insurance Plan

Critical illness cover is becoming increasingly important due to unhealthy lifestyles that have led to an increase in the incidence of lifestyle diseases. Protect your family from this threat with Future Generali Heart and Health Insurance Plan. It provides extensive cover against 59 critical illnesses.

Tax Benefits: Section 80D of ITA permits tax-deductions for premiums taken for you or your family.

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