Future Generali Assured Income Plan

Financial security is a key factor shaping our lives, with each of us striving to ensure that we are financially stable. Future Generali Assured Income Plan is a non-linked, non-participating endowment scheme which offers guaranteed income to members, ensuring that they stay protected at all times. Apart from assured income, this Future Generali Life plan also provides life cover, helping you live to the fullest, without worrying about what the future holds.

Eligibility Criteria for Future Generali Assured Income Plan

Minimum entry age
  • 7 years for 11 year policy
  • 5 years for 15 year policy
Maximum entry age 50 years
Minimum age at maturity 18 years
Maximum age at maturity 65 years
Minimum premium Rs 35,000 per year

Key Features of Future Generali Assured Income Plan

Plan type Non-linked, Non-participating Endowment Scheme
Plan basis Single/Individual
Policy term
  • 11 years
  • 15 years
Premium payment term Equal to policy term
Maturity benefit Ranges between 17.5 to 34.5 times the annualised premium
Premium payment frequency Annual payment
Loan Loans can be availed once the policy acquires surrender value
Surrender value Policies which have been in force for a minimum of 3 years are eligible for a surrender value
Free look period
  • Policies purchased through distance marketing can be returned within 30 days of purchase
  • All other policies have a free look period of 15 days
Grace period
  • 30 days
Revival/Renewal Revival is possible within two years of first unpaid due
Sum assured Depends on entry age and premium cost
Policy coverage Death Benefit, Maturity Benefit

Benefits/Advantages of Future Generali Assured Income Plan

comes with a number of benefits, a few of which are mentioned below.

  • Tax gains – Policyholders are eligible for tax exemptions under Section 80C of the Income Tax Act.
  • Assured income – Policyholders are entitled to an assured payout after premiums have been paid.
  • Maturity benefit – A maturity benefit will be paid after the policy matures. This benefit will be paid in annual instalments, for a period equivalent to the policy term.
  • Death benefit – The nominee will receive a death benefit in the event of demise of policyholder. This benefit will consist of annual payouts for a period equivalent to the policy term.
  • Auto cover – Post the payment of 3 premiums, policyholders will be eligible for auto cover, wherein they get an automatic cover of 1 year if they are unable to pay the premium within the grace period.
  • Loan – Policyholders can avail a loan against their policy, ensuring they have a .

Working of Future Generali Assured Income Plan

Eligible individuals need to follow a few simple steps to activate this plan, which is explained through the example of Mr. Jacob, an animation artist. Jacob decides to buy this policy for himself on his 40th birthday. He chooses a policy term of 15 years, paying an annual premium during this period. The sum assured opted by him is Rs 10 lakhs.

Let us consider the following scenarios to understand how this Future Generali Guaranteed plan works.

Scenario 1: Jacob pays the premium regularly, with the policy maturing after 15 years. In this case, he will receive 15 annual instalments equivalent to two times the annualised premium paid by him. These instalments will be paid from the 16th year onwards. In addition to this, he will also receive an additional benefit after these instalments have been paid.

Scenario 2: Jacob passes away 5 years after purchasing the plan. In this case, his nominee will receive an immediate death benefit equivalent to two times the annual premium paid. In addition to this, the nominee will also receive annual payments for 14 years after his death.

Premium Payment

Policy term Premium payment term Premium payment frequency
11 years 11 years Annual
15 years 15 years Annual


This plan doesn’t come with any riders.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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