Future Generali Pension Guarantee is a pension providing insurance scheme for customers looking for a pension plan that also saves on tax. This plan offers policyholders the flexibility of a limited period payment and staying invested for a long duration in order to create a retirement corpus with possible accruement of bonuses.
The plan guarantees a maturity value of at least 101% of the total sum of premiums paid, with additional bonuses, if applicable. A policyholder can make the following choices in order to procure a Future Generali Pension Guarantee Plan:
Listed below are the eligibility factors you must meet to purchase Future Generali Pension Guarantee Plan:
|Minimum Entry Age||20 years|
|Maximum Entry Age||70 years|
|Minimum Vesting Age||40 years|
|Maximum Vesting Age||80 years|
Sum Assured: The policyholder can choose the Sum Assured amount for their Future Generali Pension Guarantee Plan, allowing them greater flexibility:
|Minimum Sum Assured||Depending upon the minimum premium amount.|
|Maximum Sum Assured||No limit.|
Premium Range: Future Generali Pension Guarantee is one of those rare plans that allows for full flexibility of selecting the premium amount, mode of payment, and term of payment, to a policyholder:
|Premium Payment Term||
|*Maximum Premium||No limit.|
*All premium amounts depend on the Maturity Sum Assured, Policy Term, and age of the policyholder.
Maturity Benefit: Upon vesting, the Sum Assured on Maturity plus any bonuses accrued on the policy will become payable to the Policyholder. He/she will have the option of:
Death Benefit: In case of unfortunate demise of the Life Assured during the Policy Term, the nominee receives the sum of all premiums paid till the date of death plus accrued bonuses till the date of death with a minimum guarantee of 105% of premium paid excluding Service Tax and extra premiums. The beneficiary can avail the policy proceeds in any of the following ways:
Annuity Benefit: The vesting amount received will be used to purchase immediate Annuity Plan.
Surrender Value: policy acquires a Surrender Value after all the due premiums have been paid for at least 3 full years for regular and limited premium payment policies and immediately after policy commencement date for Single Premium policies. You may terminate the policy before death during the Policy Term by surrendering the policy. On surrender, the higher of Guaranteed* Surrender Value and Special Surrender Value will be paid. These will be calculated as follows:
There are two rider options available under along with this plan:
This add-on plan provides an additional insurance cover in case of accidental death resulting from an accident. The cover amount will be paid to your family.
This add-on plan provides an additional insurance cover in case of total and permanent disability resulting from an accident. The cover amount will be paid on confirmation of the total and permanent disability.
Suicide: Death resulting directly or indirectly due to, through or in consequence of the self-harm or suicide
Listed below are the key features of Future Generali Pension Guarantee Plan:
With Future Generali Pension Guarantee Plan, the policyholder can get tax benefits on premiums paid under Section 80C, 80D, 80CCC(1), 10.10D of the Income Tax Act, 1961, as applicable.
There are several other benefits of purchasing insurance plans from Future Generali India Life Insurance Company Limited such as:
The following are the reasons why you should buy Pension Guarantee Plan from Future Generali India Life Insurance Company Limited:
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