• Future Generali Loan Suraksha 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

    Offering coverage for loan liability in case of untimely death or permanent disability of the breadwinner of a family, Future Generali Life Insurance has launched the Future Generali Loan Suraksha. This insurance plan offers complete coverage for all types of loans such as personal loans, car loans, home loans and so on. In case of the untimely death of the policyholder, the insurance kicks in to cover the loan liability, thus saving the burden of the loan on the family and dependants. The Future Generali Loan Suraksha insurance plan is single premium paying plan and customers have the option of opting for an individual or a joint life plan as well.

    Eligibility -Who is the Future Generali Loan Suraksha for?

    To be eligible for the Future Generali Loan Suraksha, customers have to meet certain criteria.

    Parameters Details
    Entry Age Minimum: 18 years Maximum: 65 years
    Maturity Age 70 years
    Premium frequency Single
    Policy Term Minimum: 2 years Maximum: 30 years
    Minimum group size 50 members

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

    Sum Assured: Depending on the loan amount and the policy term, the minimum sum assured is Rs.20,000 and the there is no limit a policyholder can be assured for the Future Generali Loan Suraksha.

    Premium: The premium depends on the loan amount availed by the policyholder.

    Parameters Details
    Policy Term Minimum: 2 years Maximum: 30 years
    Premium payment frequency Single premium

    Plan coverage - What the Future Generali Loan Suraksha covers

    The Future Generali Loan Suraksha comes with death benefits in case of untimely death of the policyholder.

    Death Benefit In case of untimely death of the policyholder, the insurance coverage kicks in and repays the remainder of the loan while all other benefits will be payable to the nominee. In the case of joint borrowers, the loan share of the deceased will be paid while the term for the surviving member will carry on.

    Exclusions - What the Future Generali Loan Suraksha doesn’t cover

    If the policyholder commits suicide within 12 months of the commencement of the Future Generali Loan Suraksha plan, then 80% of the premium paid is passed on to the nominee. No other benefits are applicable in the case of suicide.

    Other Key Features – Free-look Period, Surrender Values, Grace Period etc.

    The key features of the Future Generali Loan Suraksha are listed below:

    Surrender If the policyholder closes the loan prematurely, he/she can choose to surrender the policy. The surrender value depends on when the policyholder chooses to surrender the policy.
    Top-up loans Policyholders have the option of making a top-up if he/she avails another loan. The premium for the top-up depends on the loan tenure, the outstanding balance of the loan and the age of the policyholder.
    Nominations As per Section 39 of the Insurance Act, 1938, policyholders can choose a nominee - who would receive the death benefit in case of untimely death of the policyholder.
    Free-look period Policyholders are granted a 15 day free-look period from the commencement of the loan. If he/she disagrees with the terms and conditions of the policy, they can return the policy.

    Tax benefits – How you can save with the Future Generali Loan Suraksha

    Policyholder enrolled with the Future Generali Loan Suraksha are liable to tax benefits under the Income Tax Act of 1961. They can avail benefits under:

    • Section 80C of the Income Tax Act, 1961, for contributions (premium) made towards the scheme.
    • Section 10 (10D) of the Income Tax Act, 1961, for proceeds from the death benefits.

    Other benefits –How you can save with the Future Generali Loan Suraksha

    Some of the benefits of the Future Generali Loan Suraksha are listed below:

    • Policyholders have a number of loans they can get insurance liability. From home loans, to car loans, personal loans, business loan, educational loan, etc.
    • Choose between a single or a joint plan. The second party can be a spouse or a business partner.
    • Depending on the loan they have availed, policyholder can decide the coverage, calculate their premium amount, and make a single premium contribution towards the plan.
    • On the Future Generali Life Insurance website, customers can avail insurance products of their choice, make claims, take advice, and check the performance of their investments.
    • Customers can also pay online using their credit cards, debit cards, e-wallets, etc. They also make premium calculations.
    • Before availing an insurance product, customers can see if the product actually suits their needs and can make an estimation before buying the product.

    Why you should buy the Future Generali Loan Suraksha from Future Generali Life Insurance?

    Formed following a joint venture between India’s Future Group, Italian global insurers Generali and Industrial Investment Trust Limited (IITL), Future Generali is currently one of the fastest growing insurers in the country. Future Generali offers customers both life and non-life insurance products that vary from retirement products, to child saving products, hospitalisation cover, etc. Going with the vision - “Our vision is to actively protect and enhance people’s lives”, Future Generali offers a long list of products through its branches spread across the country and has a dedicated customer service that works round-the-clock to bring the utmost satisfaction to each and every of their customers.

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