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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.BUY NOW
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.
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.
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.
No loan is available under this policy.
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.
|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)||-|
The following riders can be opted, on payment of additional rider premium.
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.
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.