Future Generali

What are the different tax saving plans offered by Future Generali India Life Insurance?

Future Generali India Life Insurance plans come with affordable premiums and can help you achieve a variety of goals from creating a retirement fund to funding your child’s education dreams. Future Generali India Life Insurance plans also help you save taxes and keep more of your hard-earned income in your pocket. Following are some of the best tax saving plans offered by Future Generali India Life Insurance:

  1. Future Generali Flexi Online Term Plans: This term plan ensures that your family’s financial needs are taken care of in the unfortunate case of your early demise. This term plan also offers additional riders to lengthen and widen the safety net for your family. Further, under section 80C of the Income Tax Act, 1961, premiums up to ₹1.5 lacs paid for term plans can be claimed as tax exemption 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 Big Dreams Plan: This is a Unit Linked Insurance Plan - it weds the safety cushion of insurance with the equity-linked wealth creation. Further, under section 80C of the Income Tax Act, premiums up to ₹1.5 lacs paid for ULIPs can be claimed as tax deductions. Under Section 10(10)D of ITA, the fund received upon the maturity of the plan is 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 Heart & Health Insurance Plan: This plan provides financial support in case you suffer from a critical illness. The plan focuses on providing a financial cushion that goes beyond medical expenses - it seeks to provide a lump-sum that can help a family meet day to day expenses as well as medical expenses in the scenario where the insured individual is unable to earn due to the critical illness. Further, under section 80D of the Income Tax Act, premiums up to ₹25,000 paid for Health Insurance can be claimed as tax exemption. This goes up to ₹50,000 for senior citizens.
  4. Future Generali Assured Education Plan: This education plan guarantees that your child will get the benefits of higher education without the finances becoming unrealistic for you. This comes with significant tax benefits as both the premiums paid and payouts received are tax-free under section 10 (10)D
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