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Future Generali Pension Guarantee Plan

What is the Plan all About?

Future Generali Pension Guarantee is a deferred pension plan that offers guaranteed benefits on maturity or unfortunate demise. This plan helps you lead a comfortable, worry-free life after the retirement. Buy this plan to enjoy good times after retirement.


What are the Key Features?

  • Annuity Benefits under the plan
  • Minimum Guaranteed Maturity Benefit
  • Death Benefit available
  • Single/Regular/Limited premium pay term
  • Accumulation through bonuses
  • Large Maturity Sum Assured discount
  • Avail tax benefits

What are the Plan Benefits?

Death Benefit

    In the event of demise of the life insured during the policy term, the nominee will receive the sum of all premiums plus accrued bonuses till the date of death.

    The amount payable on death is subject to a minimum of 105% of the total premiums paid.

    The nominee can avail the policy proceeds by utilizing the entire proceeds (or its part) for purchasing an annuity at the prevailing rate or withdraw the entire proceeds of the policy.

Annuity Benefit

    The vesting amount can be used to purchase immediate Annuity Plan.

Maturity or Vesting Benefit

    On survival of the life insured till end of the policy term, Maturity Sum Assured plus accrued bonuses are payable to the policyholder. The guaranteed minimum Maturity Benefit is 101% of total premiums paid.

    The policyholder can use the amount received in following 3 ways.

    • Utilizing the entire proceeds to purchase a Single Premium Deferred Pension Plan.
    • Commuting the maturity proceeds as allowed under the Income Tax Act.
    • Extending the term under the same policy.

Commutation Benefit

    You have the option to take up to 1/3rd of the total vesting benefit, as per the current tax regulations and then utilize the balance amount to purchase an immediate annuity at the prevailing annuity rate.


    The Company will declare compounded reversionary bonus from the first policy year provided all premiums have been paid. The bonus component will be applied on the maturity Sum Assured along with the bonuses already accrued. The bonuses, once allocated will be guaranteed during the policy term.

Loan Benefit

    No loan is available under this policy.

Surrender Value

    For regular & limited premium policies, surrender value can be acquired on payment of all due premiums for at least 3 full policy years. For single premium policies, surrender value can be acquired immediately after policy commencement date. The Surrender Value payable is the higher of guaranteed surrender value or special surrender value.

Who can Buy the Plan?

Factor Minimum Maximum
Age (as on last birthday) 20 Years 70 Years
Vesting Age 40 Years 80 Years
Policy Tenure 10 To 20 Years (Regular Premium), 11 To 20 Years (10 Year Pay), 16 To 20 Years (15 Year Pay), 10/15/20 Years (single Premium) -
Premium Paying Term Regular Premium, Limited Pay (10/15 Years), Single Premium -
Premium Paying Mode Annually, Semi Annually & Monthly -
Premium Amount For Regular/Limited Pay: Rs 11,000 (annually) For Single Pay: Rs 90,000 No Limit
Maturity Sum Assured Based On The Minimum Premium No Limit
Freelook Period 15 Days/ 30 Days (for Distance Marketing Channel) From The Receipt Of The Policy -
Grace Period 30 Days (15 Days For Monthly Mode) -
Plan Type Offline -

Is any Rider Available with this Plan?

The following riders can be opted, on payment of additional rider premium.

  • Future Generali Non Linked Accidental Death Rider
  • Future Generali Non Linked Accidental Total & Permanent Disability Rider

Is the Plan, eligible for Tax Benefit?

Premium(s) paid are eligible for tax benefit under the provisions of Section 80C, 80CCC(1), 80D, 10(10D) of the Income Tax Act, 1961.

How the Plan Works?

Mr. Aditya at 30 years, wants to receive annuity benefit along with the life cover. He decides to buy Future Generali Pension Guarantee with the policy term and premium payment term of 20 years with annualized premium of Rs 55,840.

Scenario I: Aditya Survives the Policy Term

If Aditya survives till vesting, he receives Maturity Sum Assured plus accrued bonuses. You can use this payout in purchase a Single Premium Deferred Pension Plan, commuting the maturity proceeds or extending the term under the same policy.

Scenario B: Aditya dies during the Term of the Policy

In the event of the demise of Aditya during the policy term, his nominee will receive the sum of all premiums plus accrued bonuses.