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• Future Generali India Big Income Multiplier Life Insurance Plan and Policy

Future Generali India Big Income Multiplier Life Insurance Plan and Policy

Future Generali India Big Income Multiplier Life Insurance Plan and Policy - Who wouldn’t like to see their money grow over time, perhaps even double itself after a few years? Sure, there are a number of fraudsters who promise to double an investment in a few months, but these schemes are often designed to separate you from your hard-earned money. A smarter, proven way to actually multiply your money is the Big Income Multiplier Plan from Future Generali. This is an ideal option for those looking to multiply an investment over time, with the additional benefit being the life cover accorded by this scheme. Being a non-linked, non-participating policy, the investment isn’t subject to market risks, with the scheme assuring returns which are double the initial investment. Life cover is accorded for a period of 14 years, post which the investment starts producing returns. This is a smart option for those looking at a long-term investment cum insurance plan.

Eligibility – Future Generali India Big Income Multiplier Life Insurance Plan and Policy

The Future Generali Big Income Multiplier Plan comes with a few basic requirements which should be satisfied. These are highlighted below:

Sum Assured and Premium Range – Future Generali India Big Income Multiplier Life Insurance Plan and Policy

Sum Assured – This plan comes with a guarantee to double an investment, ensuring that the sum assured is sufficient to meet any future requirements a policyholder or the family of a policyholder might have. The sum assured is a multiple of the premium paid by the policyholder, with it highlighted in the table below:

Premium* - One can reap only what they sow, and the premium is the determining factor when it comes to the sum assured an individual is entitled to. The premium can be paid either every month or annually, with the Big Income Multiplier Plan coming with a limited premium payment term of 12 years. The payment begins after the policy term ends, with the table below highlighting the various aspects related to the premium.

*The premium amount paid by a policyholder can vary based on the age, occupation, lifestyle habits, etc. One should check the actual premium requirements before purchasing the plan.

Plan Coverage – Future Generali India Big Income Multiplier Life Insurance Plan and Policy

The Future Generali Big Income Multiplier Plan is unique in itself. This scheme not only provides life cover, but also pays a certain portion of the money at regular intervals after the policy term.

Riders/Add-on plans – Future Generali India Big Income Multiplier Life Insurance Plan and Policy

A policyholder who is looking for enhanced protection can add a rider to this base plan. Future Generali currently offers one rider option, the Accident Benefit Rider.

Exclusions – Future Generali India Big Income Multiplier Life Insurance Plan and Policy

There is a single exclusion under this plan, suicide. If the policyholder were to commit suicide within a year of buying the policy, his/her nominee will not be entitled to any benefit. Future Generali will pay the nominee an amount equivalent to 80% of the premiums paid by the policyholder until the time of death.

Similarly, if the policyholder commits suicide within a year of renewing a lapsed policy, the nominee will receive an amount which is the higher of the surrender value or 80% of the premiums paid, subject to the policy having acquired a surrender value.

Other Key Features – Future Generali India Big Income Multiplier Life Insurance Plan and Policy

Tax Benefits – Future Generali India Big Income Multiplier Life Insurance Plan and Policy

A policyholder can avail tax benefits under this scheme, subject to the current income tax regulations in the country. The premium paid is eligible for deduction under Section 80C of the Income Tax Act. Similarly, the amount received on maturity/death is also eligible for tax saving under different sections of the Income Tax Act.