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  • Future Generali Immediate Annuity Plan

    Life Insurance
    • Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
    • Claim up to Rs. 1,50,000 deduction under section 80C**
    • Choose between annual and monthly premium payment options

    Plan your post-retirement financial needs with Future Generali Immediate Annuity Plan, a traditional non-participating plan offered by Future Generali India Life Insurance Company Limited. Under this plan, you can get the following benefits:

    • Regular income for the rest of your life.
    • Get annuity immediately after premium payment (depends on the chosen premium payment mode).
    • You can choose to receive monthly or yearly payouts.
    • Annuity card makes it easier to receive annuity payouts.
    • Tax benefits under Section 80C of the Income Tax Act, 1961.

    Eligibility -Who is the Future Generali Immediate Annuity Plan for?

    Listed below are the eligibility factors you must meet to purchase Future Generali Immediate Annuity Plan:

    Minimum Entry Age 40 years for new customers 0 years for existing customers
    Maximum Entry Age 80 years old

    Sum Assured and Premium Range - What you get and what it costs?

    The premium, Policy Term and Sum Assured for Future Generali Immediate Annuity Plan are as follows:

    Purchase price Minimum - Rs.30,000 Maximum - No limit
    Annuity mode Yearly or monthly
    Policy Term Till demise of the annuitant
    Payout options Post dated cheques Direct credit to annuity card

    Plan Coverage - What the Future Generali Immediate Annuity Plan covers?

    This is how Future Generali Immediate Annuity Plan works:

    • Annuity options: You have the option to choose between the following two annuity options:
      • Life annuity: The annuity payment continues as long as the annuitant is alive. The policy terminates in the unfortunate event of the demise of the annuitant and no benefit is paid.
      • Life annuity with return of purchase price: Annuity payment continues as long as the annuitant is alive. Upon the demise of the annuitant, the nominee will be paid the purchase price and the policy terminates.
    • Annuity amount is determined based on the age, applicable annuity rate, and the chosen annuity option. Annuity rates are guaranteed throughout the life of annuitant.
    • Additional annuity benefit: Get additional annuity payout for a higher purchase price. The additional payout per Rs.1,000 purchase price is as follows:
    Purchase price Rs.60,000 to Rs.79,999 Rs.80,000 to Rs.99,999 Rs.1 lakh to Rs.1,49,999 Rs.1.5 lakhs and above
    Additional annuity amount 1.6 2 2.2 2.5

    Other key features – Freelook Period, Surrender Values, Grace Period etc.

    Listed below are the key features of Future Generali Immediate Annuity Plan:

    • Free-look period: From the date of receipt of the policy document, you have 15 days to review the terms and conditions of the policy. If you have any objection to the terms and conditions, you have the option to return the policy and get a refund of the rider premiums paid minus risk premium for critical illness benefit and stamp duty charges.
    • Nomination: The annuitant can choose a nominee in the case of life annuity with return of purchase price option. The nominee will be paid the return of purchase price in the unfortunate event of the demise of the annuitant.

    Tax benefits – How you can save with the Future Generali Immediate Annuity Plan?

    With Future Generali Immediate Annuity Plan, the policyholder can get tax benefits on premiums paid under Section 80C of the Income Tax Act, 1961.

    Other benefits – How you can save with the Future Generali Immediate Annuity Plan?

    There are several other benefits of purchasing insurance plans from Future Generali India Life Insurance Company Limited such as:

    • Online application: You can apply for insurance plans online through the company website in 4 easy steps.
    • Renew policy online: Through Net Banking, credit or debit card, you can easily renew your policy online.
    • Premium payment: You can make secure premium payments online through the company website.
    • Customer service: For any insurance related queries, SMS FG to 567678 or call toll-free numbers at 1860 500 3333/1800 220 233.
    • Policy alerts: Register to get policy notifications via SMS or email.

    Why should you buy Future Generali Immediate Annuity Plan from Future Generali India Life Insurance Company Limited?

    The following are the reasons why you should buy Future Generali Immediate Annuity Plan from Future Generali India Life Insurance Company Limited:

    • Future Generali India Life Insurance Company Limited is one of the leading insurance providers in the global market.
    • The company caters to more than 12.6 lakh customers with 6,000 agents spread across 132 locations in India.
    • Future Generali has settled over 1,80,000 claims a year.
    • The claim settlement ratio of Future Generali Life is 90% for FY2016.
    • The company has over 2,000 corporate clients.
    • It is an ISO 90001:2008 certified company.

    *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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