Future Generali Flexi Online Term Plan Lumpsum

What is the Plan all About?

Future Generali Flexi Online Term Plan is a non-linked and non-participating pure term insurance plan. Securing your family with financial protection is quite essential and that’s the reason, why you should opt for this term plan. This plan provides you the option to customize the plan depending on your needs.

What are the Key Features?

Provides longer protection till 75 years

Affordable life cover

Secure your family’s financial future

Lump-sum or monthly death benefit option

Monthly or Annual Mode of premium payment available

Option to create your own customized plan

Hassle-free policy buying

Discounted premium rates for non-smokers and women

High sum assured discounts

What are the Plan benefits?

Death Benefit

Following are the death benefit options available under this plan.

1. Death Benefit – Option 1- Basic Life Cover:

The sum assured under the plan is paid as Lump Sum to the nominee as death benefit. The Death benefit shall be the higher of:

10 times the annualized premiums (excluding extra premiums and taxes), or
105% of total premiums paid (excluding taxes and extra premiums, if any), or
The basic sum assured

Here sum assured is equal to sum assured chosen while buying the plan or discounted value of ﬁxed income as on date of death (6.5% p.a. compounded yearly) or discounted value of increasing Income as on date of death (6.5% p.a. compounded yearly).

2. Death Benefit – Option 2 - Fixed Income Protection:

A fixed income on a monthly basis is paid to the family. This death benefit option offers a monthly income on your death till such time you would have either turned 60 or for 10 years whichever is higher.

3. Death Benefit – Option 3- Increasing Income Protection:

It provides a monthly payout increasing at the rate of 10% per annum to the family in order to provide protection against inflation.

Who can Buy the Plan?

Feature	Specification
Age (as on last birthday)	Minimum: 18 Years Maximum:55 Years
Age at Maturity	75 Years
Policy Tenure	Minimum: 10 Years Maximum: 57 Years
Sum Assured	Minimum: 50 Lacs Maximum: No limit (subject to underwriting)
Premium Paying Term	Same as policy term Years
Premium Paying Mode	Monthly/Annually
Maturity Proceeds	Nil
Plan Type	Online
Grace Period	30 days – for Annual mode

Is any Rider Available with this Plan?

Future Generali Accidental Benefit Rider can be opted to enhance the protection cover.

Rider offers 2 Options:

Option 1 “Accidental Death Protection”: Provides cover in case of an accidental death
Option 2 “Accidental Death and Accidental Total and Permanent Disability Protection”: Provides
i) Cover in case of an accidental death; or
ii) Cover in case of a total and permanent disability arising out of an accident.

Note: Only one rider option can be opted in the policy. Refer the Rider brochure for more details.

Premium Illustration

Sample illustration of the Premium Amount for an individual of age 25, 30 and 35 years, opting for a Life Cover of Rs. 50 lacs or Rs. 1 crore as Sum Assured and 25 years as Policy Tenure.

	25 years	30 years	35 years
Sum assured = Rs. 1 crore	Rs. 5,662	Rs. 7,085	Rs. 9,726
Sum assured = Rs. 50 lacs	Rs. 3,514	Rs. 3,916	Rs. 5,451

(Note: Premium amount is for a non smoker individual keeping good health conditions at the time of buying this insurance plan)

Is the Plan, eligible for Tax Benefit?

Future Generali Flexi Online Term Plan is eligible for Tax benefits as stated:

Premiums paid, qualify for tax benefits as per Section 80C of the Income Tax Act, 1961.
Death benefit(s) are entitled for tax benefits as per Section 10 (10D) of the Income Tax Act.

(Subject to the provision stated therein.)