Insurance, as the name suggests is a product that offers customers a kind of a protection, in this case, financially. There are a number of plans available to safeguard financial interests. Issues related to money should always be taken seriously especially in times such as these which are relatively uncertain in terms of financial stability. Procuring life insurance plans are perhaps the best decision that salaried people can take today as this not only safeguards their financial interests but also that of their family. Life is unpredictable, so why not make it a little safer by investing wisely?
Why Future Generali Life Savings Plans?
One of the names synonymous with life insurance in the country, Future Generali life offers products that are suitable for almost all needs and requirements. In addition to this, they are a company of repute. 80 percent of their funds have consistently been outperforming all the given benchmarks and their investment team is ISO certified. Accessibility is also not an issue as they are present in more than 80 locations throughout the country and boasts of more than 450 corporate companies as their client. The company is financially strong and is based on a strong foundation. These factors are enough to convince anyone to opt for products offered as part of their varied portfolio.
Future Generali Assure Plus
Customers can experience flexibility with respect to the term choices and even their premium payment term. Thanks to compounded reversionary bonuses through the duration of the policy term, customers can procure upside on their investments. Some of the other benefits are given below.
- In case the policyholder survives until the end of the policy term and all the dues have been paid then accrued bonus plus assured sum along with the terminal bonus will be paid. On payment of this maturity benefit, the policy ends.
- In case of untimely death of the policyholder during the policy term then the nominee receives a benefit that is the higher of vested bonus plus terminal bonus along with the assured death sum and a 105 percent of the total paid premiums.
- The minimum assured sum is Rs. 1 lakh and the maximum is Rs. 5 crore.
- Customers also stand to receive bonuses and tax benefits by procuring this plan.
Future Generali Triple Anand Advantage
This plan is so named due to the triple benefits that are a cause for happiness. These benefits include cash back, a lump sum payout and cover until the insured turns 30 years old. Other benefits include the following.
- After paying all the premiums, customers receive a fixed amount per month for 5 continuous years which is 10 percent of their assured sum and this is referred to as the survival benefit.
- Upon maturity of the policy, a lump sum amount will be given to the policyholder. This includes 50 percent of the assured sum along with compounded reversionary bonuses and terminal bonus, if there are any.
- Policyholders will also receive another lump sum payout when they turn 80 years old which is 100 percent of the assured sum. In case the insured expires prior to turning 80, his/her nominee will receive the amount.
- In case of premature death of the insured, the nominee will receive a death benefit which is a higher of accrued compounded reversionary bonuses and terminal bonus if any, along with the assured death sum. Along with this, the nominee will also receive 105 percent of all the paid premiums.
Future Generali New Saral Anand
The Saral Anand policy by Future Generali offers a number of unique benefits that makes this plan one of the most sought after policy options available in the market today.
- Upon maturity of policy, the policyholder receives a lump sum amount that includes the assured sum along with the terminal and compounded reversionary bonuses, if there are any.
- Through this policy, the insured gets to celebrate his/her 100th birthday by receiving a lump sum amount that is equal to the assured sum. In case of the insured’s death prior to turning 100, hi/her nominee will receive the amount.
- In case of the policyholder’s untimely demise, the nominee receives a death benefit which is a higher of accrued compounded reversionary bonuses and terminal bonus if any, along with the assured death sum. Along with this, the nominee will also receive 105 percent of all the paid premiums.
- By procuring this policy, the insured is eligible to receive tax benefits as per current tax laws.
Bharath procures the Triple Anand Advantage plan when he turns 30 years of age by opting for Rs. 10,00,000 as the sum assured. Excluding taxes, he pays Rs.65,250 every year for a term of 20 years. After the end of the term, he receives Rs.1 lakh every year for five years and at the end of the twenty fifth year, he receives Rs 5 lakhs assuming 4 percent is gross return rate. When he turns 80 years old and is alive by then, he will receive Rs. 10 lakhs.
There are a number of insurance policies available today. The sheer number of benefits offered are overwhelming to say the least. In such cases, the best option that potential customers have is to do their research and shop around for the best option possible. Some may offer flexible terms but with lower benefits and others may offer more features but a not so good sum assured. It is all about choosing the plan that is best suited to the customer’s financial requirements and their future needs.
Insurance not only helps protect them financially, it is also a good form of investment as it prevents customers from unnecessarily spending their hard earned money. It is also essential to look at the company and their reputation before opting for a particular plan. One such feature is the claim settlement ratio and the accessibility. If the company is not situated anywhere close to the client’s location then travelling to and from the company will be a hassle. If the company is not reputed, there are chances that the company may cheat customers out of their hard earned money. Therefore, researching for the best option is advised prior to procuring a plan.
GST of 18% is applicable on life insurance effective from the 1st of July, 2017