Future Generali Saral Bima Plan

This is a Non-Linked, Non-Participating Endowment Plan. It is a simple traditional endowment plan that offers life cover.

Key Features

  • Non-Participating endowment insurance plan.
  • Affordable life cover with fully guaranteed
  • Policy Term suitable for medium to long-term financial needs

Benefits

  • Maturity Benefit
Get Sum Assured as Maturity Benefits at the end of the Policy Term.
  • Death Benefit
In the event of an unfortunate demise of the Life Assured during the Policy Term, the Death Sum Assured is paid to the nominee. The policy terminates on the payment of Death Benefits. Death Sum Assured means, higher of:
1) 10 times annualized Premium or
2) Sum Assured or
3) 105% of total Premiums paid (excluding service tax and extra Premiums if any) till the date of death
  • 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.

Am I eligible?

PARAMETER MINIMUM MAXIMUM
ENTRY AGE 7 years 55 years
MATURITY AGE 18 years 70 years
SUM ASSURED - -
POLICY TERM 10 years 20 years
PREMIUM PAYMENT TERM Equal to policy term
PAYMENT MODES ANNUAL, HALF YEARLY, 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

  • During the first three years, if premiums are not paid within the Grace Period the policy will lapse. After the first three years, if premiums are not paid within Grace Period, the policy will be made ‘Paid-Up’ and the Sum Assured will be reduced. The Sum Assured payable on death will be reduced in the same proportion as the ratio of number of premiums paid to the total premiums payable under the policy.

I wish to take a loan

  • No loan is available under this policy

Exclusions

SUICIDE

  • If the Life Assured commits suicide within one year from the policy commencement date, the policy will be void and only 80% of the premiums paid will be payable as Death Benefits. If the Life Assured commits suicide within one year from the revival date of the policy, if revived, the higher of, 80% of the premiums paid till the date of death and Surrender Value, will be payable as Death Benefits.