Future Generali Triple Anand Advantage Plan

Benefits/Advantages of Future Generali Triple Anand Advantage

Listed below are the main advantages of .

1. Money back assurance - Policyholders receive a fixed amount for 5 years after their premium payment term ends.
2. Maturity benefit - A lumpsum amount equivalent to 50% of the sum assured plus all accrued bonuses will be paid on maturity of policy.
3. Extended life cover - This policy until the policyholder attains the age of 80 years.
4. Death benefit - The nominee will receive a death benefit equivalent to the sum assured if the policyholder passes away before attaining the age of 80 years.
5. Bonus - Policyholders are entitled to earn a bonus on their policy.
6. Loan - Loans can be availed against this policy.
7. Flexibility - Policyholders can choose to modify their policy based on current needs and requirements.
8. Tax benefits - Policyholders can claim tax benefits under Section 80C of the Income Tax Act.

Working of Future Generali Triple Anand Advantage

As the name implies, Future Generali Triple Anand Advantage has been designed to offer three unique benefits to policyholders. Let us take the example of Mr. John, a 40 year old banker to understand the working of this plan. John is married and has three kids aged 12, 9 and 7 years respectively. He decides to secure their future by investing in Triple Anand Advantage, choosing a premium payment term of 20 years. He opts to pay the premium every year, with the sum assured being Rs 50 lakhs.

John pays all his premiums, with the payments ending after 20 years. He now receives an annual payment equal to 10% of the sum assured, i.e., Rs 5 lakhs. This amount will be paid to him for 5 consecutive years. On maturation of the policy, he will receive a lumpsum payment which is equal to 50% of the sum assured, i.e., Rs 25 lakhs. Any bonuses accrued during this period will also be paid to him.

One of the features of this Future Generali Life policy is the extended life cover it provides, which means that John is protected until he attains the age of 80 years. In the event of John reaching this age, he will receive a lumpsum equal to the sum assured, i.e., Rs 50 lakhs.

In the event of John's death before he attains this age, his nominee will receive the sum assured on his behalf.

Premium Payment

Riders

This plan cannot be enhanced with riders.

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