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Future Generali Dream Guarantee Plan

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This plan has been withdrawn by the insurance company and is no longer available for sale.

Future Generali Dream Guarantee Plan

Future Generali Dream Guarantee Plan is a Participating Money Back Plan with Guaranteed Additions. It is a Traditional Plan with Bonus facility as well as Guaranteed Additions.
 
How it works – In this plan, premium needs to be paid for the entire policy tenure of 15 or 20 years, as chosen. In this plan, there is Guaranteed Additions of 3.5% of the sum assured for first three policy years and after that there is compounded Reversionary Bonus from the 4th policy year onwards.
 
During the policy tenure, 60% of the Sum Assured is paid out as Survival Benefit and the remaining 40% of the Sum Assured along with Guaranteed Additions and vested Bonus. However, if the Life Insured dies within the policy tenure, then 100% of the Sum Assured is paid as immediate Death Benefit and the policy continues. The future premiums are waived off and the policy continues to the Survival and Maturity Benefit as per schedule.
 
In case of accidental death, three times the sum assured is paid to the nominee.
 

Key Features of Future Generali Dream Guarantee Policy

  • It is a participating Money Back Plan
  • In this plan, there is guaranteed money back payments of a total of 60% of the sum assured is paid as Survival Benefit
  • The remaining 40% of the sum assured along with guaranteed additions and vested bonuses (if any) is paid at maturity as Maturity Benefit
  • If the Life Insured dies within the policy tenure, 100% of the Sum assured is immediately paid and future premiums waived and policy continues to pay the money back and maturity benefit to nominee
  • There is Guaranteed Additions at 3.5% of the sum assured for first three policy years
  • In this plan, Compounded reversionary bonuses from the 4th policy year onwards
  • There is Fixed policy terms of 15 years and 20 years in this plan
  • There is an Inbuilt accidental death benefit rider equal to three times sum assured in this plan
  • There is discount in premium on opting for a large sum assured

COMPARE THIS PLAN WITH OTHER MONEY BACK PLANS
 

Benefits you get from Future Generali Dream Guarantee Insurance Policy

Death Benefit – In case of death of the Life Insured within the Policy Tenure, then the nominee gets:
  • 100% of the Sum Assured as Immediate Death Benefit and
  • The Policy Continues
  • All future premiums are waived off
  • All Bonuses and Guaranteed Additions continue to accrue
  • The Money Back Payouts are provided as per schedule
  • Thus a total of 200% of the Sum Assured + Vested Bonus + Guaranteed Additions are paid if the Life Insured dies within the Policy tenure. In an unfortunate event of accidental death 3 times the sum assured is payable.
 
Survival Benefit – This policy pays out a pre-defined % of the Sum Assured at the end of each year after the premium paying term is over.
 
% of Money Paid
PT=15 Years
PT=20 Years
20% of Sum Assured
At the end of the
6th Policy Year
At the end of the
5th Policy Year
20% of Sum Assured
At the end of the
9th Policy Year
At the end of the
10th Policy Year
20% of Sum Assured
At the end of the
12th Policy Year
At the end of the
15th Policy Year
40% of Sum Assured + Vested Bonus + Guaranteed Additions
On Policy Maturity
On Policy Maturity
Total
100% of Sum Assured + Vested Bonus + Guaranteed Additions
 
 
Maturity Benefit – On survival till the end of the Policy Tenure, the policyholder gets the remaining 40% of the Sum Assured + Guaranteed Additions + Vested Bonus as Maturity Benefit and the policy terminates.
 
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 and the Maturity Proceeds are tax free under section 10(10)D subject to fulfilment of terms and conditions.
 
 

Eligibility conditions & other restrictions in Future Generali Dream Guarantee Insurance Plan

 
Minimum
Maximum
Sum Assured (in Rs.)
1,00,000
25,00,000
Policy Term (in years)
15
20
Premium Payment Term (in years)
Equal to Policy Term
Entry Age of Life Insured (in years)
12 for PT=15
13 for PT=20
55 for PT=15
50 for PT=20
Age at Maturity (in years)
-
70
Payment modes
Yearly, Half-Yearly, Quarterly and Monthly
 
 

Sample illustration of Premium in Future Generali Dream Guarantee Plan

The below illustration of premiums is for a healthy male opting for a Sum Assured of Rs 1,00,000 in annual mode

Future Generali Dream Guarantee Plan Sample Premiums
 

 

Additional Features and Benefits of Future Generali Dream Guarantee Plan

Riders – There is 1 in-built rider in this plan:
Accidental Death Benefit
 
 

What happens if?

You stop paying the premium - If the policy holder stops paying the premium, the policy lapses and all benefits cease. However, if at least 3 years premiums have been paid, then the policy gets converted to Paid Up Value. The policy can be revived within 3 years from the first unpaid premium.
 
You want to surrender the policy – On surrender, the higher of the guaranteed surrender value and the special surrender value will be paid.
Minimum Guaranteed Surrender Value= (30% of all premiums paid – 1st year’s premium)
 
You want a loan against your policy – Loan facility is not available in this plan.



 
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