Smart Money

Updated: Jan 11 2013, 06:42am hrs
Future Generali relaunches Future Health Suraksha

Future Generali India Insurance Company has re-launched its Future Health Suraksha. The plan offers lifelong renewals, floater options above 45 years of age, available with an entry age of up to 70 years.

The plan comes with upward revision of premiums, cumulative bonus from first claims-free renewal, instead of the sixth renewal. The plan has also increased the sub-limit for cataract operation. No medical tests are required for up to 50 years of age for all fresh proposals/rollover cases where the proposal form is clean and or with no-claims history in the expiring policy.

Also, the lifetime indemnity clause for members above 60 years has been deleted. Future Generali is a joint venture between India's Future Group and the Generali Group of Italy.

Max Life Insurance to give special bonus

Max Life Insurance has announced a one-time special bonus to all its active policyholders who have participating policies issued on or before December 31, 2005. The special bonus will be paid at the respective policy anniversaries commencing February 1, 2013.

The special bonus would be calculated as a percentage of the annual premium paid. The longer the policyholder has been with the company, the higher will be the percentage of the special bonus. However policies that have been surrendered will not be eligible for this special bonus.

Rajesh Sud, CEO & MD , Max Life Insurance, said: Max Life Insurance has experienced robust and profitable growth. We wanted to share the result of this improved performance with our loyal policyholders in the form of special bonus. The older the eligible policy, the higher the special one-time bonus it will be eligible for. We will continue delivering true value to our policyholders by focusing on long-term savings and protection.

Over 2.6 lakh policyholders would receive payments ranging from 20% to 100% of their annual premiums, irrespective of the premium term or the policy term of the policy. The total payout is estimated to be around R130 crore.

Reliance Mutual Fund launches FMP

Reliance Mutual Fund has launched Reliance FHF XXII Series 39-G, a close-ended fixed maturity plan (FMP) for a tenure of 468 days. The offer will close for subscription on January 14. The scheme offers growth and dividend options and will be listed on the National Stock Exchange. One can subscribe to the offer directly at Reliance FHF XXII Series 39 Direct with the same features.