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  • Future Generali Assure Plus Plan

    Future Generali Life Insurance

    Securing the financial needs of our loved ones is a primary concern for most of us, with the unpredictability surrounding life making it necessary to invest in a good plan. Future Generali Assure Plus is a specialised product which offers an insurance cover to ensure that the future of your family is secure, regardless of what happens in life. This is a participating, non-linked endowment plan which offers peace of mind and financial stability to individuals.

    Eligibility Criteria for Future Generali Assure Plus

    Minimum entry age 3 years
    Maximum entry age 55 years
    Minimum age at maturity 18 years
    Maximum age at maturity 70 years
    Minimum premium Rs 12,000 per year

    Key Features of Future Generali Assure Plus

    Plan type Participating, non-linked, endowment policy
    Plan basis Single/Individual
    Policy term
    • 15 years
    • 20 years
    • 25 years
    Premium payment term
    • 7/10/12 years for 15 year term
    • 10/12/15/17 years for 20 year term
    • 12/15/17/20 years for 25 year term
    Maturity benefit A maturity benefit equivalent to the sum assured plus all bonuses accrued will be paid
    Premium payment frequency Monthly, quarterly, half-yearly or yearly
    Loan No loan facility available
    Surrender value Surrender value will be paid after policy has been in force for a specific time period
    Free look period
    • Policies sold through distance marketing have a 30 day free look period
    • All other policies have a free look period of 15 days
    Grace period
    • 30 days for quarterly, half-yearly or yearly payment modes
    • 15 days for monthly payment mode
    Revival/Renewal A lapsed policy can be revived by paying all premiums and any fine/interest. Revival is possible only within 2 years of first unpaid premium
    Sum assured

    Minimum – Rs 1 lakh

    Maximum – Rs 5 crore

    Policy coverage Death Benefit, Maturity Benefit

    Benefits/Advantages of Future Generali Assure Plus

    Some of the benefits of Future Generali Assure Plus are listed below.

    • Flexibility – Individuals can choose a policy term which matches their needs, having additional flexibility in terms of premium payment modes, premium payment terms and the amount they wish to invest every year.
    • High sum assured – One can avail cover to the tune of Rs 5 crore under this policy.
    • Tax benefits – Policyholders are entitled to tax benefits under Section 80C of the Income Tax Act.
    • Maturity benefits – A maturity benefit equivalent to the sum assured plus all accrued bonuses will be paid once the policy completes its term.
    • Death benefit – In the event of unfortunate demise of a policyholder during the policy term, his/her nominee will receive a death benefit comprising the death sum assured and all bonuses accrued.
    • Discounts – Individuals who opt for a high sum assured are entitled to discounts on their premiums.
    • Bonus – Each policy is eligible to earn a bonus, thereby offering higher returns.

    Working of Future Generali Assure Plus

    Let us consider the example of Mr. Rakesh to understand the working of this plan. Rakesh is a software engineer working for a reputed firm. He is married and has two children aged 4 and 5 year. He decides to opt for this plan on his 40th birthday, choosing a 20 year policy, with the sum assured being Rs 25 lakhs. He pays an annual premium for 10 years towards this policy.

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

    Scenario 1: Rakesh passes away 15 years after buying the policy. All premiums were paid by him before his death. In this case, his nominee will receive a death benefit which is equal to the death sum assured plus all bonuses accrued until death.

    Scenario 2: The policy matures after 20 years, with Rakesh and his family leading an eventful life. In this case, he will receive a maturity benefit which includes the sum assured and bonuses accrued over the policy term.

    Premium Payment

    Policy Term Premium Payment Terms Premium Payment Frequency
    15 years 7, 10 or 12 years Yearly, half-yearly, quarterly or monthly
    20 years 10, 12, 15 or 17 years Yearly, half-yearly, quarterly or monthly
    25 years 12, 15, 17 or 20 years Yearly, half-yearly, quarterly or monthly


    No riders available with this plan.

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