• Future Generali Easy Invest Online Plan

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    Life Insurance
    • Reduce taxable income by up to Rs. 1,50,000 deduction under section 80C**
    • Convenient payment options - annual, half-yearly, quarterly or monthly premium payments
    • Do more with plans that offer pure protection, retirement planning and investment options

    Future Generali Easy Invest Online Plan is a unit linked insurance plan that offers life cover to the insured in addition to the benefit of wealth creation and accumulation. This plan can be purchased by paying a nominal fee which makes it affordable by almost anyone residing in the country. With the Future Generali Easy Invest Online Plan, you can be prepared for any unexpected expenses that you might face in the future. These expenses could arise from any situation ranging from medical emergencies, marriage, home renovation, etc. Some of the key features of the plan are listed below:

    • Provides protection for you and your family
    • Benefits of wealth creation and accumulation
    • Flexibility of making a partial withdrawal
    • Future Generali Easy Invest Online Plan is a well-planned systematic investment tool
    • Returns are enhanced with loyalty additions
    • You are in control of your investment
    • Tax benefits are offered

    Eligibility – Who is the Future Generali Easy Invest Online Plan for?

    An individual will have to meet the following eligibility criteria to avail benefits that the Future Generali Easy Invest Online Plan has to offer:

    Parameters Details
    Minimum Entry Age 0 years as on last birthday
    Maximum Entry Age 50 years as on last birthday
    Minimum Maturity Age 18 years
    Maximum Maturity Age 70 years

    Sum Assured and Premium Range – What you get and what it costs

    Sum Assured

    The sum that is assured is based entirely on the premiums that you will be required to pay to avail the benefits of the policy. The sum assured for Future Generali Easy Invest Online Plan is 10 times the annual premiums that have been paid.

    Premiums*

    Premiums are paid to the insurer to purchase a policy from them so that the individual can come under the umbrella of benefits and coverage that this plan has to offer. The premiums that a policyholder will have to pay towards a Future Generali Easy Invest Online Plan are listed below:

    Parameters Details
    Minimum Premiums to be Paid Minimum:
    • Monthly Mode: Rs.4,000
    • Annual Mode: Rs.40,000
    Maximum Premiums to be Paid No limit
    Policy Term 10 - 20 years
    Premium Payment Frequency Monthly and Annual modes. Monthly premiums are paid by only using Auto Pay System. Auto Pay methods of payment are also available for all types of premium modes.

    *Premiums paid vary based on age, location, plan term and other factors

    Premiums for Future Generali Easy Invest Online Plan can be made using any of the following ways:

    • ECS/Direct Debit/Salary Deduction Scheme
    • With a cheque or demand draft
    • Through the use of debit or credit cards
    • Payment in cash at the insurer’s branch office
    • Using payment gateways or internet banking

    Plan coverage – What the Future Generali Easy Invest Online Plan covers

    The Easy Invest Online Plan offered by Future Generali Life Insurance offers a number of different benefits and these are listed in the table below:

    Parameters Details
    Maturity Benefit At the time of maturity of the plan, the Fund Value will be paid to the policyholder.
    Death Benefit If the policyholder meets with his/her demise, the higher of the following shall be paid to the nominee:
    • 105% of the total premiums that have been paid until the date of death of the insured
    • Fund Value of the policy
    • Sum Assured after deducting partial withdrawals, if any, that were made
    Loyalty Additions If you stay invested in the policy for the entire term, you will get a loyalty addition which is a percentage of the average Fund Value. All you need to do to avail this benefit is to ensure that you have paid all your premiums on time.

    Exclusions – What the Future Generali Easy Invest Online Plan doesn’t cover

    In case of the death of the policyholder due to suicide, the beneficiary or the nominee of the policyholder shall be entitled to the Policy Account Value/Fund Value amount that stands on the date of death of the policyholder. This is applicable only if the policyholder commits suicide within 12 months from the date of revival or inception of the policy.

    Other Benefits

    Parameters Details
    Free Look Period In case the policyholder is not satisfied with the “Terms and Conditions” of the policy, a 30 day period is provided where the insured can return the policy back to the insurer. The company will return the Fund Value after deducting any expenses incurred by the insurer such as stamp duty charges, medical expenses, etc.
    Change in Premium Mode The premium payment modes can be changed from monthly to annual or vice versa. The change in the payment mode will be entertained only on the anniversary of the policy and the insurer should be intimated at least 30 days in advance.
    Grace Period A 30 day grace period is provided for payment of annual premiums while a period of 15 days is provided for monthly premiums. The policy shall remain active during the grace period.
    Settlement The policyholder is entitled to take settlements after the maturity period of the policy in the form of monthly payments.
    Partial Withdrawal Policyholders are entitled to partial withdrawals which can be availed after the Lock-in period which is 5 policy years. Minimum amount that can be withdrawn from the policy is Rs.5,000.
    Redirection of Premium Redirection of funds is available for a policyholder to avail where he/she can submit in writing to the insurer to redirect future premiums in alternative proportions to various unit funds that are available. Redirection should be intimated to the insurer at least 30 days prior to the next premium due date.
    Switch Switch is allowed in every policy year. 12 switches are available for a policyholder to avail after which a charge of Rs.100 will be levied per switch.
    Lock-In Period The lock-in period is a term of 5 years from the commencement of the policy during which proceeds from a discontinued policy is not payable to the insured except in case if the policyholder dies.
    Termination of the Policy The policy will be terminated if the policyholder chooses to do so or if any premiums were not paid within the Grace Period. A notice will be sent and the policyholder will have 30 days from the date of receiving the notice to either revive the policy or opt for complete withdrawal without any risk cover.
    Revival If the policyholder wants to revive the policy, the policy will be revived while following the Revival Conditions.
    Surrender A policyholder can be surrendered at any point of time after which the Fund Value shall be paid after deducting any discontinuous charges.
    Nomination Nomination is allowed as per the prevailing tax laws under Section 39 of the Insurance Act, 1938.
    Assignment Assignment is allowed as per the prevailing tax laws under Section 38 of the Insurance Act, 1938.

     

    Tax Benefits – How you can save with the Future Generali Easy Invest Online Plan

    A policyholder can enjoy tax benefits on any premium that is paid towards a Future Generali Easy Invest Online Plan under the prevailing tax laws under Section 80C, 80CCC (1), and 10.10D of the Income Tax Act. Tax benefits are subject to changes without prior notice so it is important that the policyholder consults a Tax Advisor to stay informed about any changes made.

    Why you should buy the Easy Invest Online Plan from Future Generali?

    Future Generali is the result of a joint venture between Generali and Industrial Investment Trust Ltd. and Future Group. Future Generali brings a history of quality products and services which has not diminished since its time of inception in 2006. Future Generali Easy Invest Online provides a number of benefits which are easily available for people to avail. The customer service facility is also available to address any problems or queries that you may have.

    *The customer reviews/feedback/opinions expressed on this website are solely of their authors and do not reflect, in any way, the view of BankBazaar Insurance.

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