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Guaranteed Life Insurance Plan: Future Generali's New Assured Wealth Plan – Check details

Published On Mar 11, 2021 12:00 AM By InsuranceDekho

Financial wellbeing is all about how well you are handling your assets. Without the right planning, financial goals like your child's schooling, home ownership, and even early retirement may be beyond your grasp. What you need is a package that gives you both life insurance and growth in your hard-earned savings.

Future Generali New Assured Wealth Policy gives you income coverage in the form of a lump-sum death benefit and a fixed lump-sum balance at the completion of your policy term. It also gives you Guaranteed Add-ons per year from the 8th year, measured at the single percent cost of the sum Assured. And you don't have to think about the rising cost of living.

Also Read:- How to Choose the Right Money Back Plan?

How Can You Buy The Future General New Assured Wealth Plan?

The plan is available with the following 2 plan choices - 

Choice 1 – Assured Policy of Endowment
Choice 2 – Guaranteed premium-free endowment policy

Benefits of Future Generali New Assured Wealth Plan

Following are the benefits of Future Generali New Assured Wealth plan:

1. Choose from 2 separate product choices

The package offers 2 customizable solutions to guarantee that you have the optimal coverage that is ideally tailored to your savings objectives. The alternative must be selected at the beginning and cannot be changed within the policy term.

2. Guaranteed Supplements and Increasing Death Benefit

Enjoy the additional value of the Fixed Add-ons that are accrued, from the eighth insurance year to the completion of the policy period, at a clear rate as a percentage of the Amount Assured for all options, subject to payment of all due premiums. The Death Benefit increases with the accrual of the Guaranteed Additions under Option 1. 

3. Choose the term of your policy and the term of your premium charge

Get the freedom to pick your Policy Term and Premium Payment Term based on the choices available and your desires, and to follow your investment targets.You can purchase this policy up to 60 years of age under Option 1

4. Tax benefits

Tax benefits In compliance with the rules of the Income Tax Act, you could be eligible for tax incentives on the premium(s) you pay and income benefits. These incentives are subject to modification in compliance with existing tax regulations. 

5. Guaranteed Maturity Benefit

You will earn a Guaranteed Maturity Benefit as per your preferred survival option before the expiration of the policy period, subject to any premiums required to be paid.

The Maturity Sum Assured Plus Certified Guaranteed Add-ons shall be paid where Maturity Sum Assured is equal to Sum Assured. Sum Assured under this product is equal to the gross annualized premium charged under this policy (excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any). The agreement terminates the payment of the maturity benefit under all options.

6. Death Benefit

In the event of an unfortunate loss of life, the Death Advantage of this package assures the financial well-being and future of the family of Life Guaranteed. The death advantage varies depending on the choice of the package you choose:

(a) Option 1

In the event of an unexpected death of life assured during the Policy Term, the Life Assured nominee/beneficiary shall collect the Death Sum Assured plus Accrued Guaranteed Additions, if any.This shall occur where the policy is in effect and the due premium has been charged up to the date of death.

Death Sum Assured is the largest of the following:

  • 10 times the annualized rate (excluding related fees, rider rates and additional premiums, if any) or 105 per cent of the gross premiums charged as of the date of death (Excluding any added premium, any premium with riders and related taxes)

(b) Option 2 

In the event of a tragic death of a life insured during the insurance period, assuming that the policy remains in place and the due premium has been charged prior to the date of death, two payments will be rendered to the life insured's candidate under this option:

Death Sum Assured is the maximum of the following:

  • 10 times the annualized rate (excluding related fees, rider rates and additional premiums, if any) or 105 per cent of the gross premiums charged as of the date of death (Excluding any added premium, any premium with riders and related taxes)

You May Also Like To Read:- Money Back Plans V/S Other Life Insurance Plans

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The pandemic has helped people realize how important it is to be financially secure. These causes have resulted in higher enquiries about life insurance assured goods. Customers want smart, versatile and value-added goods. The New Assured Asset Package not only includes versatile functionality and options to select from, it also promises long-term guaranteed returns.

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