Future Generali Big Income Multiplier

This is a non-linked, non-participating insurance plan. The policy holder is provided with a life insurance plan which guarantees Double Returns over the payout period

Key Features

  • Get maturity payout over a period of 12 years – Get a Total Maturity Benefit which is twice the total premiums paid under the life insurance plan over a period of 12 years.
  • Limited Premium payment – Pay premiums only for 12 years and stay protected for 14 years.
  • Guaranteed income – Get guaranteed income for 12 years after the end of policy term.
  • Flexibility in choosing your Life Insurance Plan option- Choose between i) Annual Income Option or ii) Monthly Income Option.
  • Tax Benefits – Avail of tax benefit as per existing tax laws

Benefits

  • Maturity Benefit
Maturity Benefit If you have paid all your premiums, you will receive the following benefits after your policy matures
Provided the premium payment frequency chosen is annual:
1) 4 annual payouts of 1.5 times the annual premium shall be payable each year for four years starting from the end of 1st year after the end of policy term.
2) 4 annual payouts of 2 times the annual premium shall be payable each year for four years starting from the end of 5th year after the end of policy term.
3) 4 annual payouts of 2.5 times the annual premium shall be payable each year for four years starting from the end of 9th year after the end of policy term.
Provided the premium payment frequency chosen is monthly:
1) 48 monthly payouts of 1.5 times the monthly premium shall be payable each year for 48 months starting from the end of 13th month after the end of policy term.
2) 48 monthly payouts of 2 times the monthly premium shall be payable each year for 48 months starting from the end of 61st month after the end of policy term.
3) 48 monthly payouts of 2.5 times the monthly premium shall be payable each year for 48 months starting from the end of 109th month after the end of policy term.
  • Death Benefit
In case of your unfortunate demise during the Policy Term, a lump sum amount will be payable to your nominee as Death Sum Assured. In order to ensure that your family is always adequately protected, the Death Sum Assured shall be highest of the following:
1) 15 times Annualized Premium, or
2) 125% of total premiums paid as on date of death, or
3) Maturity Sum Assured
  • Tax benefit
The Premium(s) paid by you are eligible for tax benefit available under the provisions of Section(s) 80C, 80 CCC (1), 80D, 10(10D) as applicable.
  • Surrender benefits
The life insurance plan will acquire a surrender value after all the due premiums have been paid for the first 3 full policy years. The policy cannot be surrendered once the policy term is over. The surrender value payable is higher of the Guaranteed Surrender Value and the Special Surrender Value.

Am I eligible?

PARAMETER MINIMUM MAXIMUM
ENTRY AGE 4 years 50 years
MATURITY AGE 18 years 64 years
POLICY TERM 14 years
PREMIUM PAYMENT TERM Same As Policy Term
PAYMENT MODES Yearly and monthly

What if?

I am unable to pay on time

  • A grace period is provided based on the payment frequency. The policy is continued if you make the payment within the time period else the policy is lapsed.

I stop the payment

  • On the completion of the grace period the policy will get lapsed and the benefits cannot be claimed on the death of the life insured.

I wish to take a loan

  • The policy holder may avail of a loan once the policy has acquired a Surrender Value. The maximum amount of loan that can be availed is up to 85% of the Surrender Value. The current interest rate for the financial year 2016-17 applicable on loans is 10% per annum compounded half yearly.

Exclusions

SUICIDE

  • If the life assured commits suicide within one year from the date of inception of the policy, 80% of the Premium paid will be payable to the nominee or beneficiary/legal heirs, provided the policy is in-force. If the life assured commits suicide within one year from the revival date, higher of 80% of the premiums paid or the surrender value ,if any, will be payable to the nominee or beneficiary/legal heirs