Future Generali India New Saral Anand Life Insurance Plan and Policy
Future Generali India New Saral Anand Life Insurance Plan and Policy
Benefits - Future Generali India New Saral Anand Life Insurance Plan and Policy
Maturity Benefit:
Once your policy matures at the end of the Premium Payment Term and if you have paid all your due premiums, you will receive a Lump Sum payout equal to 100% of the Sum Assured plus any declared Compounded Reversionary Bonuses plus any Terminal Bonus, which is called the Maturity Benefit.
Extended Life Cover Benefit:
Your insurance cover will be active till you turn 100. Once you reach 100 years of age, you will receive another Lump Sum payment equal to 100% of your Sum Assured which is called the Extended Cover Payout. What's more, in case of your unfortunate demise after maturity but before you turn 100, your nominee will receive an amount equal to 100% of the Sum Assured.
Let's understand this benefit with the help of an example:
Amit is 35 years old while buying the policy. He has opted for Rs. 1,00,000 Sum Assured for a Premium Payment Term of 15 years. He pays Rs. 8,247 premium (plus Goods & Services Tax) annually for a term of 15 years.
Please note that the above scenario is depicted at assumed investment returns of 4% and 8%. These assumed rates of return are not guaranteed and they are not upper or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including future investment performance.
Death Benefit during the Policy Term
Death Benefit in this plan secures your family in case of your unfortunate demise during the Policy Term. The Death Benefit payable shall be higher of:
- 105% of all the premiums paid as on date of death; or
- Death Sum Assured + Accrued Compounded Reversionary Bonuses (if any) plus Terminal Bonus (if any)
Death Sum Assured is defined as Higher of:
- Sum Assured
- 10 times Annualised Premium
- Maturity Sum Assured, which is equal to sum assured
- Absolute amount payable on death (which is equal to Sum Assured)
Note: The premiums above exclude taxes, rider premiums and extra premiums, if any as these are collected separately in addition to the regular premium for this product.
The plan will terminate once the Death Benefit is paid.
Let's understand this benefit with the help of the previous example:
It is assumed that the death occurs in the 2nd policy year. The benefit payable to Amit's nominee(s) will be:
Please note that the above scenario is depicted at assumed investment returns of 4% and 8%. These assumed rates of return are not guaranteed and they are not upper or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including future investment performance.
Summary of Benefits
| Your Benefits | |
| Lump Sum Payout | 100% of sum assured + Compounded Reversionary bonuses1 (if any) + Terminal Bonus2 (if any) at end of the Policy Term |
| Extended Cover Benefit | 100% of Sum Assured on turning 100 years or 100% of Sum Assured paid to Nominee in case of death before 100 years |
1. Compounded Reversionary Bonus: At the end of each financial year, the Company may declare a bonus expressed as a percentage of the Sum Assured and all previous bonuses declared. The bonus of each year is added to the Sum Assured and the next year's bonus is calculated on the enhanced amount.
2. Terminal Bonus: The Company may declare a discretionary terminal bonus which is payable on death or maturity of the plan.
Suicide Exclusion:
If the Life Assured commits suicide within one year from the plan inception date, only 80% of the premiums paid will be payable as Death Benefit. If the Life Assured commits suicide within one year from the revival date of the plan, if revived, the higher of, 80% of the premiums paid till the date of death and surrender value, will be payable as Death Benefit
Target Group
For the customers who are looking for tax saving whole life insurance plan that offers dual benefits of Lumpsum benefit alongwith potential upside through bonuses and cover till 100 years of age.
Eligibility - Future Generali India New Saral Anand Life Insurance Plan and Policy
| Parameter | Criterion |
| Entry Age (as on last Birthday) |
3 years – 50 years |
| Maturity Age (as on last Birthday) |
18 years - 70 years |
| Policy Term | 15 to 20 years |
| Premium Payment Term | Equal to Policy Term (Regular Premium Payment) |
| Sum Assured | Minimum –  1,00,000Maximum – No Limit |
| Premium Payment Frequency | Annual |
| Premium amount | Minimum Premium- 8,000 subject to Minimum SA of 1,00,000 Maximum Premium- No Limit |
Disclaimers - Future Generali India New Saral Anand Life Insurance Plan and Policy
Future Generali New Saral Anand [UIN: 133N062V01]
- Tax benefits are subject to change as per tax laws.
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For more details on the risk factors and the terms and conditions please read the sales brochure and/ or sample policy document on our website carefully, and/ or consult your advisor before concluding the sale.
FREE LOOK CANCELLATION:
You have a period of 15 days (30 days if the policy is sold through Distance Marketing Mode) from the date of receipt of the Policy document to review the terms and conditions of the Policy. If you are not satisfied with or disagree with any of the terms and conditions, you have the option to Cancel/withdraw and return the Policy along with a letter (dated and signed) stating your intention to cancel the Policy and reasons for the objections/Cancellation, within this period. Cancellation of Policy and refund of premium is allowed under this provision, whereby the amount payable on such cancellation will be equal to the total premium paid less a proportionate cost of insurance for the period of cover and expenses towards Policy stamp duty and medical.
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