Future Generali Select Insurance Plan

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Future Generali Select Insurance Plan


Future Generali Select InsurancePlan is a unit linked insurance plan (ULIP), such that if the Life Insured dies within the policy tenure, the nominee would receive the Sum Assured or the Fund Value, whichever is higher as Death Benefit.



Key Features of Future Generali Select Insurance Plan


  • Unit linked Insurance Plan with competitive policy charges
  • Option to decrease your Sum Assured
  • Flexibility to decide the premium amount, policy term, mode of premium payment and extent of life cover
  • Choice of 4 rider benefits available



Benefits you get from Future Generali Select Insurance Plan


Death Benefit – The death benefit is payable if the life assured dies before the maturity date and will be the higher of -

1. The sum of Sum Assured and Fund Value

2. 105% of the premiums paid under the policy till date of death less deductible partial withdrawals, if any.

Deductible partial withdrawals are partial withdrawals made in the 2 years prior to the date of death of the life assured.


Maturity Benefit – On maturity of the policy, the Fund Value as on the date of maturity is payable to the policyholder. The policyholder also has the option to receive the maturity benefit under Settlement Option.


Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C



Eligibility conditions in Future Generali Select Insurance Plan





Sum Assured (in Rs.)

Half the policy term or 10, (whichever is higher) x AP


M x Annual Premium

where M is a factor which depends on the age

Policy Term (in years)



Premium Payment Term (in years)

Equal to Policy Term

Entry Age of Policyholder (in years)



Age at Maturity (in years)



Premium (in Rs.)



Payment modes

Yearly, Half-yearly and Monthly



Additional Features and Benefits of Future Generali Select Insurance Plan


Riders – There are 4 riders available in this policy

1.            Accidental Death Benefit

2.            Accidental Total & Permanent Disability Benefit

3.            Unit Linked Life Guardian Rider

4.            Unit Linked Critical Illness (Core) Rider


Investment Fund Options

There are 5Investment Funds available

1.            Future Secure Fund

2.            Future Income Fund

3.            Future Balance Fund

4.            Future Apex Fund

5.            Future Opportunity Fund


Top-up -  Not allowed in this plan


Switching -  Six switches are free in a policy year. The minimum amount that can be switched is Rs. 5,000


Partial Withdrawal -  You are allowed to make partial withdrawals in this policy after 5 complete policy years or the life assured is 18 years old, whichever is later.  The minimum amount of partial withdrawal should be Rs. 5,000 such that at least one year’ s annual premium remains in the Fund Value.



What happens if?


You want to surrender the policy – If the policy holder wants to surrender the policy before completing 5 years, then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee.


If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and your fund value shall be paid immediately and the policy would be terminated.


You want a loan against your policy - There is no loan available under this plan.



Alternate ULIPs from different insurance companies


India First Life Smart Save

Aviva Freedom Life Advantage


Tata AIG Life Invest Assure Flexi Supreme



Other ULIPs from Future Generali Life Insurance


Future Generali Bima Advantage Plan
Future Generali Wealth Protect Plan
Future Generali Pramukh Nivesh – Single Premium Plan
Future Generali Nivesh Preferred – Single Premium Plan


Compare Ulip Plans

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