Future Generali Pramukh Nivesh ULIP Plan

• 6 different investment fund options
• Insurance Protection plus Investment
• Maturity Benefit as a lump sum or installments
• Systematic Transfer Fund option to secure maturity amount
• No Premium Allocation Charge
• 1% Policy Administration Charge in the first year
• Liquidity Benefit through partial withdrawals
• Switching benefit available
• Enjoy tax benefits

This policy offers following 6 investment funds and you have the option to invest in any one or combination of fund options.

• Future Secure Fund
• Future Income Fund
• Future Balance Fund
• Future Maximise Fund
• Future Apex Fund
• Future Opportunity Fund

Systematic Transfer of Fund: The Customer can opt for Systematic Transfer of Fund (STF). This option can be exercised at inception or later during the Policy Term but at least 36 months prior to maturity. This investment strategy is applicable to the policy with Policy Term equal to 10 years or above.

Under this investment strategy, during the last 3 years of the policy, the proportion of units, per unit fund opted, is switched from Future Apex Fund, Future Maximise Fund and Future Opportunity Fund to Future Income Fund. Switching is not allowed during the ‘Systematic Transfer of Fund’ period.

Death Benefit

In the event of death of the life assured while the policy is in-force, the Death Benefit payable is Sum Assured plus Fund Value till the date of intimation of death. The minimum Death Benefit is never less than 105% of the single premium paid.

Maturity Benefit

On survival of the life insured till the end of the policy term, the Fund Value is payable at maturity. You can receive this benefit as a lump sum or as periodic installments by using ‘Settlement Option’.

Settlement Option

On maturity, you can opt to receive your money in installments over a maximum period of 5 years, after the date of maturity. In order to exercise this option, you need to give a notice to the company 30 days prior the policy maturity. You also have the option to completely withdraw the fund value at any time during the settlement period. No life cover is applicable during this settlement period. Partial Withdrawals and switching are not allowed during the Settlement Period.

Decrease in Sum Assured

Decrease in Sum Assured is allowed during the term of the policy. This option can be exercised from 2^nd policy year onwards. Any decrease in sum assured does not result to change in the premium amount.

Switching

You can switch among 6 available fund options to suit your changing investment needs. The minimum switch amount allowed is Rs 5,000. Switching is not allowed, when opted for ‘Systematic Transfer of Fund’.

Partial Withdrawal

Partial Withdrawal is allowed from 6th policy year onwards (in case of minor lives, life assured attains 18 years). The minimum partial withdrawal amount allowed is Rs 5,000 (in multiple of Rs 1,000). The fund value required after each such withdrawal should be equal to at least Rs 10,000.

Bonus

The plan is not eligible for the bonuses, as it is a non-participating insurance plan.

Loan Benefit

No loan benefit can be availed under this plan.

Surrender Value

Upon surrendering the policy with-in the lock-in period of 5 years, the Fund Value less applicable discontinuance charges is credited to the ‘Discontinued Policy Fund’ and it is refunded upon completion of the lock-in period. The Fund Management Charge is deducted. The proceeds after addition of interest subject to a minimum guaranteed return of 4% p.a or as stipulated by IRDAI is payable after the end of the lock-in period.

Upon surrendering the policy after the lock-in period of 5 years, the Fund Value as on the date of surrender is payable immediately and the policy then terminates.

No rider can be opted under this plan.

Premium Allocation Charges: This charge is deducted from the premiums paid and the balance amount is then allocated to funds chosen. No premium allocation charge is levied.

Policy Administration Charge: The Policy administration charge is 1%/0.75% of the single premium, subject to a maximum of Rs 6,000 p.a/Rs 4,000 p.a levied for 1^st policy year/2^nd to 5^th policy year respectively. This charge is deducted at the start of every month by cancelling appropriate units from the fund value.

Mortality Charges: Mortality charge is levied at Sum at Risk and it is applicable for providing you with the risk cover. Sum at Risk is the Sum Assured at any point of time under the policy.

Fund Management Charges: Fund management charge levied is a percentage of the Fund Value. It is 1.35% p.a. for Future Income Fund, Future Balance Fund, Future Apex Fund, Future Opportunity Fund and Future Maximise Fund, 1.10% p.a. for Future Secure Fund, 0.50% p.a. for Discontinued Policy Fund.

Switching Charge: You can avail 12 free switches during a policy year. A charge of Rs 100 is levied per switch when opted for more than 12 switches in the same policy year. This charge can be revised to a maximum of Rs 250 upon prior approval from IRDAI. No option is there to carry forward the unused free switches.

Partial Withdrawal Charge: 4 free partial withdrawals are allowed during a policy year. Rs 200 is levied for each partial withdrawal, in excess of free withdrawals allowed. This charge can be revised to a maximum of Rs 500 upon prior approval from IRDAI. No option is there to carry forward the unused free partial withdrawals.

Discontinuance Charge: This charge is levied, in case the policy is discontinued during the first 4 policy years. This charge is levied as applicable under the policy terms & conditions. For more details, please refer the policy brochure.

Miscellaneous Charges: Alterations made in the policy contract such as reduction in Sum Assured attract the charge of Rs 250 per alteration.

Taxes: The charges mentioned under this plan are subject to applicable tax and cess, as applicable.

Tax benefits can be availed under section 80C, 80CCC(1), 80D, & 10(10D) under the Income Tax Act, subject to change in tax laws.

Mr. Gupta opts for Future Generali Pramukh Nivesh ULIP with the policy term of 20 years, single premium of Rs 5,00,000 and sum assured of Rs 15,00,000.

Scenario A- Maturity Benefit: In case of his survival till maturity of the policy, the Fund Value is payable at maturity. You can receive this benefit as a lump sum or as periodic installments by using ‘Settlement Option’.

Scenario B- Death Benefit: In the event of his death during the policy term, the Death Benefit payable is Sum Assured plus Fund Value till the date of intimation of death.