• LIC Maturity Calculator
/
• Future Generali India Life Insurance Policy and Plans
/
• Retirement Life Insurance Plans and Policy
/
• Future Generali India Pension Guarantee Life Insurance Plan and Policy

Future Generali India Pension Guarantee Life Insurance Plan and Policy

Future Generali India Pension Guarantee Life Insurance Plan and Policy - The Future Generali Pension Guarantee Plan helps policyholders maintain a comfortable life through their retirement years. It also helps provide for their loved ones in the unfortunate event of their early demise, as the nominees receive a guaranteed death benefit, which they may utilize as they wish. With its choice of policy terms and premium payment terms, this policy is a viable option for almost everyone who is looking to ensure a comfortable and secure post-retirement life.

Key Features - Future Generali India Pension Guarantee Life Insurance Plan and Policy

• The policy is suitable for many as there is flexibility in policy term and premium payment term. Policyholders can choose to pay a regular premium or a single premium or pay for a limited time.
• There is a high minimum guaranteed Maturity benefit of 101% of the total premiums paid.
• With a reasonably affordable minimum premium and no limit on the maximum on the premium or maximum Sum Assured, the policyholder can opt for a high insurance cover for him or herself.
• The policyholder ensures the financial security of his or her loved ones, even in the unfortunate event of their demise, as their nominees receive the Death Benefit.

Benefits - Future Generali India Pension Guarantee Life Insurance Plan and Policy

• When the policy matures, the policyholder receives the Maturity Sum Assured plus the accrued bonuses as Maturity Benefit. The policyholder may opt to do the following

Product Specification - Future Generali India Pension Guarantee Life Insurance Plan and Policy

Details About Premium - Future Generali India Pension Guarantee Life Insurance Plan and Policy

Policy Details - Future Generali India Pension Guarantee Life Insurance Plan and Policy

Grace Period: There is a limited timeframe of 30 days from the due date of the unpaid premium to pay all dues, without interest. For premium payments through monthly mode, the Grace Period is 15 days. If premiums for the first two years are not paid within the Grace Period, the policy will lapse.

Policy Termination or Surrender Benefit: Surrender Value of the policy is acquired when the policyholder pays all due premiums for the first three policy years for the Regular and Limited premium payment policies. Termination of the policy occurs on payment of the Surrender Value or the Death Benefit.

Free Look Period: Policyholders have a limited free look period of 15 days from the date of receiving policy documents to review the policy. This timeframe is extended to thirty days if the policy was sold via distance marketing. If the policyholder does not wish to continue with the policy, then he or she has to return the policy stating their objections. The customer will receive the policy premium minus a proportionate premium for the risk borne by the company, including as any extra expenses, such as towards a medical examination or stamp duty charges.

Inclusions - Future Generali India Pension Guarantee Life Insurance Plan and Policy

• The nominee on receiving the Death Benefit may withdraw the entire proceeds in a lump sum; or they may utilize the amount (partly or wholly) to purchase an annuity at the then prevailing rate from the Company.
• Provided all due premiums have been paid, Future Generali will declare a compound reversionary bonus starting from the first year. Reversionary Bonus applied on the Maturity Sum Assured.
• After paying at least two full years of premiums if the policyholder does not pay any more premiums even within the Grace Period, the policy will be converted to a Paid-up policy.

Additional Features or Riders - Future Generali India Pension Guarantee Life Insurance Plan and Policy

• The revival of a lapsed policy is possible if the policyholder submits a written request for reinstatement within a timeframe of two years from the date of the first unpaid premium.
• If premiums are not paid within the Grace Period and if the policy has acquired Surrender Value, then the policy acquires Paid-up Value.

Documents Required - Future Generali India Pension Guarantee Life Insurance Plan and Policy

The policyholder has to fill up an ‘Application form’ with identity proof, bank account proof, address proof and a recent photograph. Select cases may require income proof and a medical examination.