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Future Generali Pramukh Nivesh ULIP

Future Generali Pramukh Nivesh ULIP

Pramukh Nivesh ULIP Plan
  • Premium Payment

    One time lump sum premium

  • Maturity Benefit

    Fund Value on maturity

  • Death Benefit

    Sum Assured plus Fund Value

  • Surrender Benefit after 5 policy years

    Fund Value on date of surrender

  • Age at Entry

    7 to 70 years

  • Policy Term

    5 to 20 years

  • Allocation Charge

    No

  • Switch Option

    Yes

  • Systematic Transfer of Funds before Maturity

    Yes

  • Settlement Option

    Yes

  • Tax Benefit

    Not Available

WHY BUY THIS POLICY?

  • You can maximise your investment as all the premiums you pay are invested in the funds of your choice without any Allocation Charges.
  • After 5 years for your policy, you can access money for your short-term  needs.
  • The product safeguards your returns at maturity through systematic fund transfer option from equity-oriented funds to a debt oriented fund during the last 3 years.
  • You can manage your investments by switching from one fund option to another.

How it Works

This is a single premium plan that invests the entire amount and provides you market-linked returns. It invests your money as per your choice, in six funds having different investment objectives and risks.

Step1Choose the single premium amount
  • Decide the amount you want to invest as premium under the policy.
Step2Choose the coverage and duration
  • Depending on your age, you can choose the Sum Assured up to 5 times the single premium amount.
  • Decide the duration for which you wish to stay invested.
Step3Choose your fund options depending upon your risk taking capability
  • Depending on the extent of risk you wish to take, choose any or all of the six available funds.
Step4Pay the premium
  • Fill up the proposal form and pay the premium.
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Fund Options

Fund Name Risk Profile Investment Objective Portfolio Allocation
Future Secure Fund
(SFIN: ULIF001180708FUTUSECURE133)
Low Risk Provide stable returns by investing in relatively low risk assets.
  • 100% in Money Market, Cash and Short-Term Debt
Future Income Fund
(SFIN: ULIF002180708FUTUINCOME133)
Low Risk Provide stable returns by investing in assets of relatively low to moderate level of risk. The fund's return depends on the interest received from the investments.
  • 100% in Fixed Income Investments and Money Market Instruments
Future Balance Fund
(SFIN: ULIF003180708FUTBALANCE133)
Medium Risk Provide balanced returns by investing in both; fixed interest securities as well as in equities. While fixed interest securities offer stability of return, equities provide growth in capital. The fund will also invest in money market instruments to provide liquidity.
  • Equity Instruments: 30% - 90%
  • Fixed Income and Money Market Instruments: 10% - 70%
Future Maximize Fund
(SFIN: ULIF004180708FUMAXIMIZE133)
High Risk 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 government securities, corporate bonds and money market instruments.
  • Equity Instruments: 50% - 90%
  • Fixed Income Including Cash and Money Market Investments: 10% - 50%
Future Apex Fund
(SFIN: ULIF010231209FUTUREAPEX133)
High Risk 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 government securities, corporate bonds and money market instruments.
  • Equity Instruments: 50% - 100%
  • Fixed Income and Money Market Investments: 0% - 50%
Future Opportunity Fund
(SFIN:ULIF012090910FUTOPPORTU133
High Risk Generate capital appreciation and provide long-term growth opportunities by investing in a portfolio predominantly of equity and equity-related instruments generally in S&P CNX Nifty stocks, and to generate consistent returns by investing in debt and money market instruments.
  • Equity Instruments: 80% - 100%
  • Fixed Income and Money Market Investments: 0% - 20%

 

BENEFITS

  • Death Benefit In the unfortunate event of the Life Assured passing away, the Fund Value and Sum Assured is paid to his/ her nominee. At no time this amount can be lesser than 105% of the premium paid.
  • Maturity Value On maturity of the policy, the Fund Value (market value of the investment) as on the date of maturity is paid.
  • Surrender Benefit Stay invested with us till the maturity of your plan, as we would like to financially protect you and your family. However, if your financial plan demands, you may choose to surrender your policy after 5 years to receive Surrender Benefits (value of fund investments) without any charges.

Eligibility

Minimum-Maximum Age at Entry
Minimum: 7 years (as on last birthday)
Maximum: 70 years (as on last birthday)
Minimum Age at Maturity Minimum: 18 years (as on last birthday)
Maximum: 75 years (as on last birthday)
Premium Paying Frequency Single Premium Only
Policy Term Minimum : 5 years
Maximum: 20 years
Sum Assured The Sum Assured as a multiple of the single premium that can be opted for is given below:

Age at Entry Multiple Factor
Minimum Maximum
7 to 49 years 1.25 5
50 to 54 years 1.25 3
55 to 70 years 1.25 1.25
Minimum/ Maximum Premium Minimum Single Premium: 50,000/-
Maximum Single Premium: No Limit

 

Charges

Charges Description of Charges
Allocation Charge No Allocation Charges are applicable in this policy.
Policy Administration Charge This charge is expressed as a percentage of the Annualised Premium. It is determined using 1/12th of the annual charges as follows and is deducted at the beginning of each monthly anniversary of a policy by cancellation of units.

Year 1 : 1% of single premium, subject to a maximum of Rs. 6,000/- per annum
Year 2 to 5: 0.75% of single premium, subject to a maximum of Rs. 4,000/- per annum
Year 6 Onwards: Nil
Fund Management Charge Fund Management Charge will be levied at the time of computation of the NAV, which will be done on a daily basis. This will be charged as a percentage of the value of the assets and will be adjusted in the NAV.

Future Secure Fund 1.10% per annum
Future Income Fund 1.35% per annum
Future Balance Fund 1.35% per annum
Future Apex Fund 1.35% per annum
Future Opportunity Fund 1.35% per annum
Future Maximize Fund 1.35% per annum
Mortality Charge Mortality Charge will be levied at the beginning of each policy month from the fund. Below mentioned are the sample mortality charges for various age groups for Rs. 1,000/- of sum at risk.

Age
(as on last birthday)
25 35 45 55
Mortality Charge 1.09 1.42 3.17 8.68
Sum at risk at any point of time is equal to the Sum Assured
Discontinuance Charge None
Other Charges
    • Up to 12 switches per year are free. Additional switches will attract a charge of Rs. 100/- per switch.

    • Up to 4 withdrawals per year are free. Additional partial withdrawals will attract a charge of Rs. 200/- per partial withdrawal.

  • Policy alteration is charged at Rs. 250/-.

Note: Service tax & cess are applicable on the above charges as per the prevailing tax rules. A notice period of one month is given to the policyholder in case of an increase in charges. This increase, if any, will apply from the policy anniversary coinciding with or following the increase. Any change in amount or rate of charges as stated above will be subject to IRDA approval.

Exclusions

Suicide Exclusion: If the Life Assured commits suicide within one year from the Policy Commencement Date, whether sane or insane at the time, the Company will limit the Death Benefit to the Fund Value as available on the date of death and no insurance benefit will be payable. Any charges recovered subsequent to the date of death shall be paid back to nominee or beneficiary along with Death Benefit. There is no other exclusion on the policy except suicide claim in the first year of risk coverage.

DISCLAIMERS

Future Generali Pramukh Nivesh ULIP (UIN: 133L035V02)

  • Unit Linked Life Insurance Products are different from the traditional insurance products as in the former, the investment risk in the investment portfolio is borne by the policyholder.
  • ‘Future Generali Life Insurance Company’ is only the name of the insurance company and ‘Pramukh Nivesh’ is only the name of the Unit Linked Life Insurance Contract and does not in any way indicate the quality of the contract or its future prospects of return.
  • Please know the associated risks and the applicable charges from your insurance agent or the intermediary or policy document of the insurer.
  • The various funds offered under this contract are the names of the funds and do not in any way reflect their quality, their future prospects and returns.
  • The premium paid in Unit Linked Life Insurance Policies are subject to investment risks associated with the capital markets and the NAVs of the units may go up and down based on the performance of the fund and the factors influencing the capital market and the insured is responsible for his/her decision.
  • Past performance of funds is no indicator of future performance, which may be different.
  • All premiums and benefits payable under this plan are subject to applicable laws and taxes including service tax, as they exist from time to time.
  • For more details on risk factors, terms and conditions please read the sales brochure and/or sample policy document on our website carefully and/or consult your advisor before concluding the sale.
  • Insurance is the subject matter of solicitation.
Copyright © 2016. Future Generali India Life Insurance Company Ltd. All Rights Reserved.

Tax benefits are as per Income Tax Act, 1961, and are subject to modifications made thereto from time to time. Insurance is the subject matter of the solicitation. BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS IRDAI clarifies to public that IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.

REGISTERED & CORPORATE OFFICE

Future Generali India Life Insurance Co. Ltd, Indiabulls Finance Centre, Tower 3,6th Floor, Senapati Bapat Marg, Elphinstone(W), Mumbai-400013. IRDAI Registration No: 133. CIN:U66010MH2006PLC165288

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