Provides life cover up to the age of 75 years
Discount in premium rate in case you opt for a Higher Sum Assured
Free Look period: In case you disagree with any of the terms and conditions of the policy, you can return the policy to the company within 30 days of its receipt for cancellation, stating your objections. Future General! India Life Insurance Company Ltd. 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
Grace Period: You get a grace period of 30 days if you have opted for annual premium payment or 15 days if you have opted for monthly premium payment from the premium due date to pay your missed premium. During these days, you will continue to be insured and be entitled to receive the death benefits subject to deduction of due premiums
The Premium(s) paid by you are eligible for tax beneﬁt as may be available under the provisions of Section(s) 80C, 80 CCC (1), 80D, 10(10D) as applicable. For further details, consult your tax advisor. Tax beneﬁts are subject to change from time to time.
Content with image- In case of death any time during the policy term, Jeevan's nominee will receive Rs. 1,00,00,000 as a one-time Lump Sum payout. The policy will end after the payment is made.
In case his death happens immediately after payment of 7th annual premium, i.e. when he has turned 41 years old, his nominee would start receiving 50,000 every month, till such time when Jeevan would have attained 60 years of age.
In case of death during the policy term, Jeevan's nominee will receive a fixed amount every month, similar to Jeevan's monthly Income, for a period till Jeevan would have attained 60 years of age or for 120 months from the date of death, whichever period is higher.
Alternately, Jeevan's nominee has an option to take all monthly instalments as a lump sum at the time of claim settlement. All monthly payouts will be discounted at 6.5% per annum compounded. The option of taking lump sum benefit cannot be exercised once the fixed income protection payment has commenced.
In case his death happens immediately after paying 7th annual premium, i.e. when he has turned 41 years old, his nominee would start receiving Rs 80,000 every month in the 7th policy year, which will increase every subsequent year, at a simple rate of 10% of the monthly payout chosen at inception, till such time when Jeevan would have attained 60 years of age.
Your coverage increases every year under this option to secure you and your family from the impact of rising costs due to inﬂation. You can choose the monthly amount which will increase at a simple interest rate of 10% from second policy year and thereafter every policy year.
In case of your death during the policy term, the increased monthly amount corresponding to the policy year of death will start getting paid to your nominee and this amount will still continue to increase every year for the period till you would have attained 60 years of age or for 120 months from date of death, whichever is higher.
Your nominee also has an option to take the monthly payouts as a Lump Sum beneﬁt at the time of claim settlement. All monthly payouts will be discounted at 6.5% per annum compounded. The option of taking Lump Sum beneﬁt cannot be exercised once the Increasing Income Protection payment has commenced.
The Death Sum Assured shall be the higher of:
10 times Annualised Premium (excluding taxes and extra premiums, if any), or
105% of total premiums paid (excluding taxes and extra premiums, if any) as on date of death, or
Absolute amount payable on death which is equal to the Sum Assured
Where Sum Assured is equal to
Option 1: Sum Assured chosen at the outset
Option 2: Discounted value of ﬁxed Income protection payments as on date of death discounted at a rate of 6.5% p.a. compounded yearly
Option 3: Discounted value of increasing Income protection payments as on date of death discounted at a rate of 6.5% p.a. compounded yearly.
There are no beneﬁts payable to you on maturity of the policy.
Please note you will have to go for a medical test to complete the application process. Our representative will get in touch with you to fix the appointment.
|BASIC LIFE COVER||INCOME PROTECTION|
|Entry Age (as on last birthday)||18 - 55 years||25 - 55 years|
|Maturity Age||Minimum:||28 years||Minimum:||45 years|
|Maximum:||Smoker: 65 years
Non – Smoker: 75 years
|Policy Term||Minimum:||10 years||Minimum:||10 years (subject to minimum maturity age of 45 years)|
|Maximum:||Smoker: 65 years minus Entry Age
Non-smoker: 75 years minus Entry Age
|Maximum:||65 years minus Entry Age|
|Basic Life Cover|
|Minimum Lump Sum Payout : Rs. 50,00,000||Maximum Lump Sump Payout: No Limit|
|Fixed Income Protection||Increasing Income Protection|
|Premium Payment Term||Equal to the Policy Term for all options|
|Premium Payment Frequency||Monthly/Annual|
You have the option to enhance your cover by opting for the following rider - Future Generali Accidental Benefit Rider (UIN: 133B027V01)
Please refer to the respective rider brochure for more details.
Please refer to the sales brochure of this rider to understand the terms & conditions before concluding a sale.
Click here to download the sales brochure.
Click here to download the sample Policy Document.
Future Generali Flexi Online Term Plan UIN 133N058V02
If your due premium remains unpaid at the end of the grace period, the policy shall lapse and no life cover will be provided to you during lapse period. You can revive the policy within 2 years from the date of last unpaid premium. The policy will be terminated for no value at the end of revival period.
SURRENDER VALUE - NIL
PAID UP VALUE - NIL
REVIVAL PERIOD - If due premiums are not paid during the grace period, the policy may be revived during the Policy Term within a period of two years from the due date of ﬁrst unpaid premium. The revival will be considered on receipt of
NOMINATION AND ASSIGNMENT
Nomination, in accordance with Section 39 of Insurance Act, 1938, is permitted under this policy.
Assignment, in accordance with Section 38 of Insurance Act, 1938 is permitted under this policy.
If you commit suicide within one year from the policy inception date, the plan will be void and only 80% of the premiums paid will be payable as death beneﬁt. If you commit suicide within one year from the revival date of the plan, if revived, only 80% of the premiums paid till the date of death , will be payable as Death Beneﬁt.