• Future Generali Wealth Protect Plan

    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 Wealth Protect Plan is a unit linked investment plan that provides minimum risk on your investment portfolio. It also provides life cover and wealth creation along with this plan. The plan can be purchased at a nominal fee which makes it affordable by almost anyone residing in the country. With the Future Generali Wealth Protect Plan, a policyholder will be prepare for any unexpected expense that they might incur in the future. These expenses can arise from any situation that ranges from medical emergencies, home renovation, etc. Some of the key features of this plan are listed below:

    • Provides protection for you and your family
    • Benefits of wealth creation and accumulation
    • Tax benefits are offered
    • Comprehensive protection is offered where the insured is protected for a sum of up to 7 to 30 times the annual premium and this depends on age, term, etc.
    • Flexibility of making a partial withdrawals
    • A policyholder has the benefit of choosing the policy term, sum assured, premium payment mode, and a plethora of other options like premium and switching reduction, etc.

    Eligibility – Who is the Future Generali Wealth Protect Plan for?

    An individual will have to meet the following eligibility criteria to avail benefits that the Future Generali Wealth Protect Plan has to offer:

    Parameters Details
    Minimum Age of Entry 7 years (As of last birthday)
    Maximum Age of Entry 60 years (As of last birthday)
    Minimum Maturity Age 22 years (As of last birthday)
    Maximum Maturity Age 75 years (As of last birthday)

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

    Sum Assured

    The sum assured is based completely on the premiums that you will be required to pay to avail the benefits of the policy. The sum assured for the Future Generali Wealth Protect Plan is listed below:

    Parameters Details
    Minimum Sum Assured
    • Higher value between 10 times the annualized premiums paid till date or half of the policy term
    • 0.25 times the plan term or 7 times the annualized premiums paid
    Maximum Sum Assured Age of Entry (in years) Maximum Multiples
    7-44 30
    45-50 20
    51-55 15
    56-60 10

    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 Wealth Protect Plan are listed below:

    Parameters Details
    Premium Payment Modes
    • Gold (Annual Premiums equal to Rs.25,000)
    • Half-Yearly
    • Yearly
    • Platinum (Annual Premiums greater than Rs.25,000)
    • Monthly (ECS) mode
    • Quarterly
    • Half-Yearly
    • Yearly
    Policy Term 15 years to 40 years
    Premium Payment Term Same as the policy term
    Maximum Premium
    • Gold Category: Rs.25,000
    • Platinum Category: Rs.2,00,000

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

    Minimum Premiums paid:

    Premium Payment Mode Premium Paid
    Gold (Annual Premium is equal to Rs.25,000 Platinum (Annual Premium paid is more than Rs.25,000)
    Monthly (ECS) N/A Rs.2,500
    Quarterly N/A Rs.6,251
    Half-Yearly Rs.12,500 Rs.12,501
    Yearly Rs.25,000 Rs.25,001

    Premiums for Future Generali Wealth Protect Plan can be made using any of the following ways:

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

    Plan coverage – What the Future Generali Wealth Protect Plan covers

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

    Parameters Details
    Maturity Benefits The Fund Value will be payable along with the loyalty addition that is guaranteed at the time of maturity of the policy.
    Death Benefits If the life assured meets with an untimely death during the policy term, the nominee or beneficiary will be entitled to receive the higher of the following:
    • Fund Value
    • Sum assured after deducting any partial withdrawals
    • 105% of the total premiums that have been paid
    Surrender Surrender value will be equal to the market value of the policy at the time of surrender after deducting any discontinuances fees.
    Tax Benefits As per prevailing laws of the Income Tax Department

    Exclusions – What the Future Generali Wealth Protect Plan doesn’t cover

    If the policyholder commits suicide within a year from the date of commencement of the policy or from the date of revival, whether the policyholder is sane or insane at the time of death, the death benefit that has to be paid by the company will be equal to the fund value at the time of death of the policyholder. No insurance benefit shall be payable to the policyholder.

    Other Benefits

    Parameters Details
    Free Look Period In case the policyholder is not satisfied with the “Terms and Conditions” of the policy, a 15 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.
    Grace Period A 15 day period is provided for monthly premiums while a 30 day grace period is provided for other modes of payment of premiums. The policy shall remain active during the grace period.
    Nomination Nomination is allowed as per the existing 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.
    Loans Not available with this policy
    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.
    Partial Withdrawals Partial withdrawals can be made after the completion of the Lock-In period. Each policy year allows a total of 4 partial withdrawals that can be made in this time frame. The minimum amount of money that can be withdrawn is Rs.5,000.
    Switching A policyholder is entitled to switch to one fund option from your existing fund and thereby manage your own investment. A maximum of 12 switches is granted in a policy year.
    Investment options The premiums that you pay can be invested in a unit fund of your choice. There are 6 investment funds which you can choose from and these are listed below:
    • Future Secure
    • Future Income
    • Future Maximise
    • Future Balance
    • Future Opportunity Fund
    • Future Apex

    Riders/Add-Ons

    Your base plan can be strengthened further by purchasing a rider for your Future Generali Wealth Protect Plan. The two riders which are available to improve your financial security are listed below:

    • Future Generali Linked Accidental Total and Permanent Disability Rider (UIN: 133A026V01)
    • Future Generali Linked Accidental Death Rider (UIN: 133A025V01)

    Tax Benefits – How you can save with the Future Generali Wealth Protect 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), 80(D) 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 Wealth Protection Plan from Future Generali?

    Future Generali brings a history of quality products and services which has not diminished since its time of inception in 2006. Future Generali Wealth Protect Plan provides a number of benefits which are easily available for people to avail. Policyholders are entitled to benefits such as a large sum assured, guaranteed loyalty addition, partial withdrawals, surrender value, etc. The customer service facility is also available to address any problems or queries that you may have.

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