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Future Generali Anand Plan

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This plan has been withdrawn by the insurance company and is no longer available for sale.

Future Generali Anand Plan 

Future Generali Anand Plan is a Participating Whole Life Plan. Thus, it is a Traditional Plan with Bonus facility.
 
How does it work – In this plan, premium needs to be paid for a selected period of 8 to 20 years. The policy however continues till 99 years of age.
 
After the premium paying term is over, a Survival Benefit of 100% of Sum Assured + Guaranteed Additions + Vested Bonus (if any) is paid to the Life Insured.
 
However, if the Life Insured dies within the Premium Paying Term, Sum Assured + Guaranteed Additions + Vested Bonus (if any) + Terminal Bonus (if any) is paid as Death Benefit to the nominee and the policy terminates. If the Life Insured dies after the Premium Paying Term: 125% of the Sum Assured + Terminal Bonus (if any) is paid as Death Benefit to the nominee and the policy terminates.
 
This policy offers 5 additional rider benefits along with this plan and an auto-cover facility, where the Life Coverage continues even if the premium is not paid, after completion of 3 policy years.
 
 

Key Features of Future Generali Anand Plan

  • This is a whole life plan with Financial security with lifetime coverage
  • This plan offers guaranteed additions of 3.5% of sum assured per annum compounding at the end of each of the first five policy years
  • This plan offers compounded reversionary bonus from the 6th policy year
  • This plan provides Survival Benefit of 100% of Sum Assured + Guaranteed Additions + Vested Bonus (if any) on survival at the end of premium paying term
  • This plan offers Death Benefit of 125% of the Sum Assured + Terminal Bonus (if any) as a lump sum in case of the Life Insured’s death after the Premium Paying Term
  • This plan offers Death Benefit of the Sum Assured + Guaranteed Additions + Vested Bonus (if any) + Terminal Bonus (if any) as a lump sum in case of the Life Insured’s death within the Premium Paying Term
  • There is a discount provided on large sum assured
  • This plan has a choice of 5 additional riders
  • There is a facility of Auto-cover available after the policy is in-force for three years
COMPARE THIS PLAN WITH OTHER ENDOWMENT PLANS
 

Benefits you get from Future Generali Anand Plan

Death Benefit – In case of death of the Life Insured:
  • Within the Premium Paying Term: Sum Assured + Guaranteed Additions + Vested Bonus (if any) + Terminal Bonus (if any) is paid as Death Benefit to the nominee
  • After the Premium Paying Term: 125% of the Sum Assured + Terminal Bonus (if any) is paid as Death Benefit to the nominee
 
Survival Benefit – On survival till the end of the Premium Paying Term, 100% of Sum Assured + Guaranteed Additions + Vested Bonus (if any) is paid to the Life Insured and the policy continues.
 
Maturity Benefit – Being a whole life plan, there is no Maturity Benefit.
 
Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,50,000 are allowed as a deduction from the taxable income each year under section 80C and the Maturity Proceeds are tax free under section 10(10)D subject to fulfilment of terms and conditions.
 
 

Eligibility conditions and other restrictions in Future Generali Anand Plan

 
Minimum
Maximum
Sum Assured (in Rs.)
1,00,000
No Limit
Policy Term (in years)
99 – Entry Age of Life Insured
Premium Payment Term (in years)
8
20
Entry Age of Life Insured (in years)
12
62
Age at Maturity for Survival Benefit (in years)
-
70
Payment modes
Yearly, Half-Yearly, Quarterly and Monthly
 
 

Sample illustration of Premium Amount in Future Generali Anand Plan

Policy Term = 99 years – Entry Age of Life Insured
Premium Paying Term = 20 years

Sum Assured = Rs 1,00,000

Future General Anand Plan Sample Premiums

 

Additional Features and Benefits of Future Generali Anand Plan

Riders –There are 5 additional riders available in this policy.
  1. Term Assurance Rider
  2. Accident Death Rider
  3. Accidental Total Permanent Disability Rider
  4. Wavier of Premium Disability Rider
  5. Critical Illness Rider
 

What happens if?                                   

You stop paying the premium - If the policy holder stops paying the premium, the insurance cover will cease and the policy will lapse. However, if 3 years premiums are paid, there is an Auto Cover Facility where the Life Coverage continues with deduction of charges.
If arrear premiums are not paid within 2 years from the due date of the first unpaid premium then the policy will be converted into a reduced paid-up from the due date of first unpaid premium.
The policy can however be revived within 3 policy years from the due date of the first unpaid premium.
 
You want to surrender the policy – The policy can be surrendered any time after 2 policy years
Guaranteed Surrender Value = 30% of all premiums paid till date – 1st years’ premiums
This policy has Special Surrender Value as well.
 
You want a loan against your policy – Loan can be availed after 3 policy years, upto 90% of Surrender Value for in-force policy and 85% in Paid Up Policy.



 
Other Endowment Plans from Future Generali Life
  • Future Generali InstaLife Plan
  • Future Generali Family Income Plan
  • Future Generali Family Secure Plan
  • Future Generali Assure Plus Plan
  • Future Generali Triple Anand Advantage
  • Future Generali New Saral Anand Plan
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