Future Generali India Life Insurance Company has launched a revised version of Future Generali Long Term Income Plan. The revised plan will offer increased guaranteed benefits.
The insurer said it has revised the plan in view of the rising cost of living and the growing trend of individuals seeking to secure supplementary regular income through assured financial instruments.
“We observe there is a constant rise in the cost of living, which makes guaranteed increasing income an attractive offering. This (plan) is for those who seek assured returns on their savings. The latest version of our Long Term Income Plan product offers a higher guaranteed income and eventually higher returns to the customer,” Bruce de Broize, Managing Director & CEO of Future Generali India Life Insurance Company Limited said while announcing the launch of the latest version of Future Generali Long Term Income Plan.
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“This plan will help one secure from any financial instabilities that may arise in the near future by ensuring a guaranteed second income at regular intervals. This plan will also help the younger generation who wants to start early financial planning for their future. This generation can start by investing small amounts and getting guaranteed benefits throughout the term,” he added.
Features of revised Future Generali Long Term Income Plan
The revised plan has the following features:
- Guaranteed Income for up to 50 years
- Guaranteed Income starting as early as 1st month and payable up to 50 years
- Increasing Income to support the increasing cost of living
- Life cover for the entire policy term i.e. up to 50 years
- Option to secure the income benefits and maturity benefit for the family, even after the death of the insured without the liability of paying future premiums.
- Tax benefits available as per prevailing tax rules
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The insurer first launched the Future Generali Long-Term Income Plan in July 2022. The plan provided an option to generate an assured and guaranteed income from the very first year of the policy for as long as 50 years. In the case of deferred income after 5 years, the plan offered a much higher income throughout the term.