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Future Generali Secure Income Plan

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This plan has been withdrawn by the insurance company and is no longer available for sale.

Future Generali Secure Income Plan

Future Generali Secure Income Plan is a limited premium plan which is a combination of Endowment and Money Back Plan. This is a non unit-linked insurance traditional plan

In this plan the Premium Paying Term (PPT) is less than the Policy Term. On completion of the premium payment period, accrued compounded reversionary bonuses are paid and the policy continues. After the chosen PPT, every year 5.5% of Sum Assured is paid as Guaranteed Cash Back + declared Cash Bonus as Survival Benefit. This is paid till the end of the Policy Term. On maturity, the policyholder would receive the Sum Assured + the Terminal Bonus, if any.

However, if the life insured dies within the policy tenure, Sum Assured + Accrued Bonuses would be paid and the policy would be terminated.

 

Key Features of Future Generali Secure Income Plan

  • This is a limited premium money back plan
  • Sum Assured + Accrued Bonuses would be paid on policy maturity or on earlier death
  • Compounded Reversionary Bonus is payable in this plan
  • Survival Benefit is payable every year of 5.5% of the Sum Assured after the PPT is over till the end of the Policy Term
  • There are 3 additional riders available in this plan
  • There is large sum assured rebate available in this plan
  • If the premium has been paid for at least 3 years, then an auto cover period is available in this plan.

 

COMPARE THIS PLAN WITH OTHER ENDOWMENT PLANS


 

Benefits you get from Future Generali Secure Income Plan

Death Benefit – In case of death of the Life Insured, the nominee would receive the Death Benefit and the policy would be terminated

  • Before Risk Commences- The premiums paid under the policy would be refunded and no Bonus is payable
  • After Risk Commences but within Premium Paying Term- The Death Benefit would be Sum Assured + accrued Reversionary Bonus + Terminal Bonus (if any) – Unpaid Premiums (if any)
  • During Cash Back Period- The Death Benefit would be Sum Assured + Terminal Bonus (if any)

Survival Benefit – The Life Insured would receive 5.5% of the Sum Assured every year after the Premium Paying Term is over till the end of the Policy Term.

Maturity Benefit – When the policy matures, the Sum Assured + Terminal Bonus, if any, is paid back.

Income Tax Benefit – Premiums paid under life insurance policy are exempted from tax under Section 80 C and maturity proceeds are exempted from tax under Section 10 (10D)

 

Eligibility conditions and other restrictions in Future Generali Secure Income Plan

 

Minimum

Maximum

Sum Assured (in Rs.)

1,50,000

No Limit

Policy Term (in years)

15

65

Premium Payment Term (in years)

Single, 10/15/20/25

30

Cash Back Term (in years)

5

35

Entry Age of Life Insured (in years)

0

60

Age at Maturity (in years)

18

80

Premium (in Rs.)

Rs 10,000

No Limit

Payment modes

Yearly, Half-yearly, Quarterly and Monthly (ECS)

 

 

Sample illustration of premium of Future Generali Secure Income Plan

The below illustration is for a healthy Male (non-tobacco user) opting for a

Age = 30 years, 35 years and 40 years

Sum Assured = Rs 1,00,000

Policy Term = 25 years.

Premium Paying Term = 15 years

Future Generali Secure Income Plan Sample Premium Values

 

Additional Features and Benefits of Future Generali Secure Income Plan

Riders- There are 3 additional riders in this plan

·         Accidental Death Rider

·         Saral Term Benefit Rider

·         Premium Waiver Benefit Rider

 

What happens if?

You stop paying the premium – If the premium has been paid for at least 3 years, then an auto cover period is available in this plan. During this period, the death benefit will not lapse for a maximum period of 2 years after the date of first unpaid premium. The policy is not eligible for bonuses till premiums have been paid. If death occurs during this period, Sum Assured + accrued Bonus – unpaid Premium is paid and the policy is terminated.

 

You want to surrender the policy – There is a Guaranteed Surrender Value after 3policy years.
Guaranteed Surrender Value = 30% of Total Basic Premiums Paid– 1st years’ Premium and 80% of Single Premium

 

You want a loan against your policy – Loan facility is not available under this 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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