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This policy offer Maturity and Death benefits, it also offers Survival Benefits wherein policyholders receive payouts annually for five years.
Future Generali Triple Anand Advantages
1. Age at Entry:7 to 50 years
2. Policy Term:Premium Payment Term + 5 years
3. Premium Payment Term:15 or 20 years
4. Premium Payment Frequency:Annual, Semi-Annual and Monthly.
5. Premium:Minimum: Rs 15,000Maximum: No Limit
6. Maturity Age:27 years - 75 years
7. Minimum Sum Assured:Rs 2,00,000
HOW DOES IT WORK?
Step1Choose the benefit amount, i.e. the Sum Assured
1. Choose the amount of insurance cover you desire under this policy.
Step2Choose the period of cover
1. Choose the term of your policy i.e. decide the number of years for which you wish to pay the premium i.e. 15 years or 20 years
Step3Receive and review the benefit illustration for your requirements
1. Our sales representative will help you calculate your premium and provide you a customised benefit illustration.
Step4Pay the premium
1. Get ready to enjoy triple benefits till you turn 80.
WHAT ARE YOUR BENEFITS?
Survival Benefit:
If you have paid all your premiums till the completion of the Premium Payment Term, you will receive 5 annual payouts equal to 10% of your Sum Assured which is called the Survival Benefit. These payouts will begin at the end of the same year in which you paid your last premium.
Maturity Benefit:
Once your policy matures, which is 5 years after your premium payment term, you will receive a lump sum payout equal to 50% of the Sum Assured plus any declared Compounded Reversionary bonuses plus any Terminal Bonus, which is called the Maturity Benefit.
Extended Life Cover:
Your insurance cover will be active till you turn 80. Once you reach 80 years of age, you will receive another lump sum payment equal to 100% of your Sum Assured which is called Extended Cover Payout
What's more, In case of your unfortunate demise after maturity but before you turn 80 years, your nominee will receive 100% of your Sum Assured.
Let's understand your benefits with the help of an example:
Amit is 30 years old while buying the policy. He has opted for Rs 10,00,000 Sum Assured for a premium payment term of 20 years. He pays Rs 65,250 annual premium (excluding applicable taxes) for a term of 20 years.
As per the above example, Amit will get the following Triple Benefits:
Death Benefit during the Policy Term:
Death Benefit in this plan secures your family in case of your unfortunate demise during the policy term. The Death Benefit payable shall be higher of:
1. 105% of all the premiums paid(excluding taxes, rider premiums and extra premiums, if any) as on date of death; or
2. Death Sum Assured + Accrued Compounded Reversionary Bonuses (if any) plus Terminal Bonus(if any)
The Death Sum Assured will be the highest of:
1. Sum Assured
2. 10 times Annualised Premium (excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any)
3. Maturity Sum Assured
4. Absolute amount payable on Death (which is equal to Sum Assured)
The above Death Benefit shall be payable irrespective of any survival benefits paid earlier
The plan terminates after paying the death benefit to the family.
Free Look Period
In case you disagree with any of the terms and conditions of the policy, you can return the policy to the company within 15 days (30 days if the policy is sold through the Distance Marketing Mode) of its receipt for cancellation, stating your objections. Future Generali will refund the policy premium after the deduction of proportionate risk premium for the period of cover, stamp duty charges, cost of medical examination, if any.
Grace Period
You get a Grace Period of 30 days if you have opted for annual or half-yearly premium payment or 15 days if you have opted for monthly premium payment from the premium due date to pay your missed premium. During these days, you will continue to be covered and be entitled to receive all the benefits subject to deduction of due premiums.
Flexibility to Make Changes
We allow you to make change in the mode of payment on the basis of valid reasons submitted by you and subject to underwriting policy of the Company.
Loan
You may avail of a loan once the policy has acquired Surrender Value. The maximum amount of loan that can be availed is up to 85% of the Surrender Value.
Covered
Death Benefit in this plan secures your family in case of your unfortunate demise during the policy term.
Covered
Once your policy matures, which is 5 years after your premium payment term, you will receive a lump sum payout equal to 50% of the Sum Assured plus any declared Compounded Reversionary bonuses plus any Terminal Bonus, which is called the Maturity Benefit.
Covered
If you have paid all your premiums till the completion of the Premium Payment Term, you will receive 5 annual payouts equal to 10% of your Sum Assured which is called the Survival Benefit. These payouts will begin at the end of the same year in which you paid your last premium.
