Future Generali Saral Bima Plan

What is the Plan all About?

Future Generali Saral Bima plan is a non linked, non participating endowment insurance plan. The plan is a simple plan which offers guaranteed death and maturity benefit, whichever happens first. It is a simple traditional plan which simplifies your life insurance needs under one product.

What are the Key Features?

Simple endowment plan
Comes at an affordable premiums
Offers guaranteed Benefits
Policy term to suit medium and long term financial needs
Avail Tax Benefit under IT Act

What are the Plan Benefits?

Death Benefit

The death benefit payable to the nominee the event of death during the policy period is Death sum assured which is higher of :

10 times the Annualised Premium
Sum Assured
105% of the total premiums paid (excluding Service Tax, extra premiums, if any) till date of death

Maturity Benefit

Base sum assured is payable as maturity benefit on the survival of the Life Assured till the end of the policy term.

Bonus

This plan is a non participating plan and does not attract any bonus amount.

Loan Benefit

No loan is available under this plan.

Surrender Value

The surrender value is equal to the value higher of Guaranteed Surrender Value (GSV) and Special surrender value will be payable as surrender value. The premium must be paid for 3 policy years from inception to avail surrender value.

Tax Benefit

The plan helps in getting tax benefits under section 80C and section 10 (10D) of the Income Tax Act, 1961.

Who can Buy the Plan?

Factor	Minimum	Maximum
Age (as on last birthday)	7 Years	55 Years
Age at Maturity	18 Years	70 Years
Policy Tenure	10 Years	20 Years
Premium Paying Term	Same As Policy Term	-
Premium Paying Mode	Annually,Semi Annually,Quarterly And Monthly	-
Premium Amount	Rs 9,000 P.a	Depends On Max Sum Assured
Sum Assured	Rs 2.5 Lacs	5 Crore
Freelook Period	15 Days/ 30 Days (for Distance Marketing Channel) From The Receipt Of The Policy	-
Grace Period	30 Days & 15 Days (for Monthly Mode)	-
Plan Type	Offline	-

Is any Rider Available with this Plan?

Following riders are available with this plan for the payment of an extra rider premium.

Future Generali Non Linked Accidental Death Rider
Future Generali Non Linked Accidental Total & Permanent Disability Rider

How the Plan Works?

Let's understand this benefit with the help of an example:

Life Insured: Amit

Age: 35 years while buying the policy

Sum Assured : Rs. 5 Lacs

Policy Term: 15 years

Benefits are illustrated below:

Scenario 1: Amit survives the policy term

Base sum assured of Rs 5 Lacs is payable to Amit.

Scenario 1: Amit dies during the policy term

Death sum assured is payable on death which is higher of 10 times the Annualised Premium or Sum Assured or 105% of the total premiums paid (excluding Service Tax, extra premiums, if any) till date of death.