The Guaranteed Additions are as a percentage of Sum Assured and accrues every year starting from 8th policy year and are payable at maturity.
Future Generali India Life Insurance Company has announced the launch of its latest offering, Future Generali New Assured Wealth Plan. The plan is a guaranteed endowment plan and also has the option to go for the guaranteed endowment plan with an inbuilt waiver of premium. The Guaranteed Additions are as a percentage of the Sum Assured and accrue every year starting from the 8th policy year and are payable at maturity.
The product is a traditional non-par endowment insurance plan with the following key features:
- Provides flexibility to choose a combination of premium payment term and policy term
- Higher Entry age and Coverage Age – Maximum entry age till 60 years and Maximum Maturity Age till 76 years
- Flexibility to choose payment frequency – Choose from Annual/Half Yearly/Quarterly and Monthly mode
- Accrued Guaranteed Additions – Guaranteed Additions as a percentage of Sum Assured accrue every year starting from 8th policy year and are payable at maturity
Plan offers two options based on customers’ requirements
Option 1 – Guaranteed endowment plan
Option 2 – Guaranteed endowment plan with inbuilt waiver of premium
As per the company, for example, if a 30-year-old customer pays a premium of 10 lakh per year for 10 years, the guaranteed maturity benefit at the end of the 20th year is almost 2.5 Crore.
Key Highlights of Future Generali New Assured Wealth Plan
- Guaranteed Maturity Benefit: Plan provides Maturity Sum Assured plus Accrued Guaranteed Additions as maturity benefit
- Higher benefits in terms of returns for higher premium sizes
- Can be bought as a Child Option
- 2 payouts provided to the nominee in case of death – 1. Death Benefit (+ Waiver of Premium) and 2.Maturity Benefit
- Complete Flexibility: You can choose combination of Premium Payment term and policy term to align it with your milestone
- Tax benefits available as per prevailing tax rules
Announcing the launch of Future Generali Assured Wealth Plan, Rakesh Wadhwa, Chief Customer and Marketing Officer, Future Generali India Life Insurance Company Limited, said, “Given the volatility in interest rates, many customers look for long term solution with guaranteed returns. Also, the ongoing pandemic has made people understand the importance of being financially protected. Both of these factors have resulted in higher enquires for guaranteed life insurance products. We understand that our customers prefer products that are smart, flexible and add value. Our New Assured Wealth Plan not only provides flexible features and options to choose from but also offers long term guaranteed returns.”