Future Generali Care Plus Premier Term Plan

Future General Care Plus Premier plan is a vanilla term plan for large sum assured only which further encourages policyholders to take large sum assured by providing large sum assured rebates. In this plan, like any other pure term plan, the nominee would get paid if the life insured dies within the policy term and nothing is payable on maturity. There are 2 versions of the Care Plus Plan- Classic and Premier, where the Classic version is for comparatively lower sum assured than the Premier version.

• It is a pure term plan for high net worth individuals with only death benefit and no maturity benefit
• Since it is a high sum assured plan, it further encourages the policyholder to take higher sum assured by providing large sum assured rebates
• There are additional rider benefits available under this plan

• Death Benefit – In case of death of the policy holder, the nominee gets the sum assured as death benefit.
• Maturity Benefit – Nothing is payable to the policyholder on maturity.
• 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

The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 50 lakhs and Policy Term = 25 years

Riders – There are 3 riders available in this policy

·         Accidental Death Benefit rider

·         Accelerated Critical Illness rider
 

• You stop paying the premium – The policy would eventually lapse after the end of the grace period if premiums are not continued. However it can be renewed within 3 years from the date of first unpaid premium.
• You want to surrender the policy – Being a pure term plan, there is no surrender options available under this plan.
• You want a loan against your policy – Loan facility is also not available under this policy.