Mumbai (Maharashtra) [India], 29 January 2021 (ANI): Future Generali India Life Insurance Company Limited (FGILI), announced the launch of its latest offering, Future Generali Lifetime Partner Plan. The product is a traditional Participating whole life insurance plan with the following key features:
* Two options to choose from basic customer need-
Option 1: Immediate Income - pays a guaranteed income along with cash bonus, if declared, from the very first year.
Option 2: Deferred Income - pays a guaranteed income along with cash bonus, if declared, from premium payment term plus 3 years
* Guaranteed Income increases gradually and is payable for a defined period depending upon the option chosen
* Enjoy whole-life cover till 100 years of age and secure your family's financial future against the uncertainties of life
* Flexibility to receive income - in yearly, half-yearly, quarterly or monthly frequency as per need and change the same with changing needs.
* Tax benefits available as per prevailing tax rules
Key Highlights of Future Generali Lifetime Partner Plan
* Regular income for the whole of your life, up to age 100.
* Provides an increasing guaranteed income in addition to an annual cash bonus, if declared. The guaranteed income duration and amount depends upon the plan option chosen.
* Potential upside on the income through cash bonuses (if declared) - CashBonus has been declared for the immediate income option which will be payable till next bonus declaration.
* Can be bought as an alternate source of income, retirement income and regular income for a lifetime
* Tax-free income as per current tax laws for standard policies
Announcing the launch of Future Generali Assured Wealth Plan, Rakesh Wadhwa, Chief Customer and Marketing Officer, Future Generali India Life Insurance Company Limited, said, "True to its name, the plan provides you income to support your regular and planned expenses for a whole life. Our breakthrough feature of immediate and increasing income helps you meet your retirement needs without having to worry about inflation. In addition to providing guaranteed increasing Income, the plan also offers a non-guaranteed annual cash bonus to the policyholders.
We believe insurance is a long-term financial savings instrument and with coverage of up to age 100, flexible premium payment terms, liquidity options, guaranteed and non-guaranteed benefits, this plan adequately addresses multiple life stage needs of our customers."
*Refer to annexure below for eligibility parameters:
Entry age (As on last Birthday) - Minimum: Option 1 & Option 2: 1 year
Maximum:Option 1: 55 years & Option 2: 60 years
Under both options
* Maturity age (As on last birthday - Minimum: 100 years
Maximum: 100 years
* Policy term: (100 minus Entry age) years
* Premium Payment Term (PPT): 6/ 8/ 10/ 12 years
* Premium Payment Type: Limited Pay
* Sum Assured: Minimum: Rs. 1,00,000
Maximum: No Limit (Subject to board approved underwriting
* Premium Payment Frequency: Yearly, Half Yearly, Quarterly and Monthly
* Premium amount
* Minimum: Rs. 2,208 for monthly mode, Rs. 6,625 for quarterly mode, Rs. 13,000 for half-yearly mode, Rs. 25,000 for annual mode
* Maximum: No Limit (as per Sum Assured)
This story is provided by Future Generali India Life Insurance Company Limited. ANI will not be responsible in any way for the content of this article. (ANI)