Future Generali Life Endowment Plans
Future Generali Life Endowment Policy

Future Generali Life Endowment Plans

Future Generali Life Endowment Plans are one of the best-dedicated insurance plans that provide the best of both worlds” “Life Insurance Coverage” and “Savings”. The major highlight of these plans is that they provide financial protection in case of unfortunate events and also help you build a corpus of funds that you receive at the end of the policy term. In simple terms, it’s like having a dual-benefit plan that combines life coverage and a savings plan.

When you choose endowment plans by Future Generali Life Insurance, you can secure your loved ones’ future while also planning for your own financial goals. Whether you want to secure your child’s education or build your retirement fund to enjoy the golden period, an endowment plan can help you achieve these milestones.

Furthermore, Future Generali Life Endowment Plans offer reliable life insurance coverage along with the added benefit of receiving a lump sum amount at the end of the policy term. It wouldn’t be wrong to say that it’s a smart choice for individuals who want to protect their family’s financial well-being and work towards their long-term financial goals.

Key Features & Benefits of Future Generali Life Endowment Plans

Let’s examine the important features and benefits of Future Generali Life Insurance’s endowment plans.

  • Dual Benefits

One of the key features and benefits of the Future Generali Life Endowment plans is that you may not only get life insurance coverage to protect your loved ones but also enjoy financial growth. In the event of an unfortunate incident, the life cover ensures that your family is financially secure. Additionally, at the policy’s maturity, you receive a lump sum amount which provides extra monetary benefits through savings. It’s a cost-effective way to build your wealth for the future while protecting your family against uncertainties.

  • Financial Goals

Another major benefit of the plans is that they allow you to systematically build your wealth and save money towards your specific financial goals. When you make regular investments in the plan, you can create a strong financial foundation and plan for expenses such as major purchases or vacations.

  • Unmatched Flexibility

One of the major highlights of these plans is that the policyholders will have the freedom to choose an endowment plan that aligns with their lifestyle and financial capabilities. From choosing the policy tenure to determining the premium amount, these endowment plans by Future Generali offer flexibility and a wide range of options.

  • Tax Exemptions

Another major reason to choose these Future Generali Life Endowment Plans is that they are exempted from taxes, which means that you are eligible for tax deductions as per the provisions of the Income Tax Laws. Under Section 80C of the Indian Income Tax Act, the premium amount can be claimed for exemption. However, the overall limit of the exception under Section 80C is up to Rs. 1, 50, 000.

  • Loan Facility

Lastly, these endowment plans by Future Generali Life Insurance may provide you with the option to take a loan against your policy. This feature can be incredibly useful during financial emergencies as you can avail of a loan of up to a defined limit. The terms and conditions regarding loans are governed by the specific product details.

Types of Future Generali Life Endowment Plan

The company offers only 1 endowment plan. Let’s find out more about it.

1. Future Generali New Assured Wealth Plan (Non-POS Variant)

The Future Generali New Assured Wealth Plan is a dedicated insurance plan that offers financial security for you and your family. It offers two main benefits: a lump sum amount (which is paid to your loved ones in case of your unfortunate demise) and a guaranteed lump sum amount (which you will receive at the end of the policy term).

Furthermore, the major highlight of the plan is that it comes with “Guaranteed Additions”. From the 8th year onwards, you will start receiving additional money calculated as a percentage of the sum assured.

ParametersDetails
Entry Age

Minimum- Option 1- 0 Years

Option 2- 18 Years

Maximum- Option 1- 60 Years

Option 2- 55 Years

Maturity Age

Minimum- Option 1- 18 Years

Option 2- 30 Years

Maximum-Option 1- 30 Years

Option 2- 71 Years

Policy Term12/16/18/20 years
Premium Payment TypeLimited Pay
Minimum Sum AssuredRs. 90,000
Maximum Sum AssuredAs per board approved underwriting policy
Premium Payment FrequencyYearly, Half-Yearly, Quarterly, and Monthly.

Key Features & Benefits

These are as follows:

  • The Choice to Choose Between Two Options

One of the major highlights of the plan is that it offers the flexibility to choose from 2 different options that best align with your savings goal. It is important to choose the option that suits you best at the beginning of the policy, as it cannot be changed during the policy term.

  • Guaranteed Additions & Increasing Death Benefit

Another major benefit of the plan is that it allows you to enjoy the advantage of Guaranteed Additions, which accumulate from the 8th year of the policy until its end. These additions are calculated as a simple percentage of the sum assured under both options (but all premiums should be paid on time).

  • Customizable Policy Term & Premium Payment Term (PPT)

With the plan, you will have the flexibility to choose the policy term and PPT based on the available options and your specific needs. Thus, it empowers you to align the path with your financial objectives.

Future Generali Life Endowment Policy Functioning Explained

Let’s take an example to understand the scenario!

Mr Amit Kumar, a 30-year-old individual working as a senior UX/UI designer at a reputed digital marketing firm in Delhi, has decided to choose Future Generali’s New Assured Wealth Plan (Option 1). He chose an annualized premium of Rs. 50,000. His policy term is 20 years and he will be making premium payments for the duration of 10 years. The sum assured for his policy is Rs. 5,00,000. Under this plan, the Guaranteed Additions will accrue at a simple rate of 9.51% of the sum assured starting from the 8th year of the policy. Now, let’s forward to the end of the 20th year. At this time, Amit will receive a lump sum amount of Rs. 11, 18, 150 at the end of the 20th-year policy term.

Things to Know Before Buying a Future Generali Life Endowment Plan

Here is a list of important things to consider before buying an Endowment Plan from Future Generali Life Insurance.

  • Finalize Your Goals

One of the best things to keep in mind is that you should plan your requirements and determine which endowment plan aligns with your financial goals. If you want to build a savings corpus through investments, an endowment plan from Future Generali Life Insurance could be an ideal choice.

  • Check the Terms & Conditions

Another major factor to consider while buying the plan is that you should review all the terms and conditions. Ensure you spare some time and go through the policy document carefully. Check details like policy terms, payment duration, flexibility, and more.

  • Make the Right Choice

One of the major aspects to consider while choosing the plan is that you should prioritize your own needs and then choose a plan that may provide the maximum benefits for you and your family.

How To Buy Future Generali Life Endowment Policy?

If you are interested in buying the Future Generali Life Endowment Policy, then there are a few easy steps to follow. Firstly, you will have the option to get in touch with their customer care representative via WhatsApp. All you need to do is simply save their number, +91-8108198633 and send them a message. Then, their assistant will guide you through the process of purchasing the plan.

Alternatively, you can reach out to them via email at Emailcare@futuregenerali.in. All you need to do is compose an email stating your intention to buy the plan and including any specific query or requirement you have. Their team will contact you shortly. Furthermore, you can even visit their nearest branch to purchase the policy in person.

Frequently Asked Questions

Listed below are the frequently asked questions related to the Future Generali Life Endowment Plan.

Here are the types of payment options available, which may include;

  • Premium Payment Type: Limited Pay
  • Premium Payment Frequency: Yearly, Half-Yearly, Quarterly, & Monthly

Yes, you can change your premium payment frequency for the Future Generali New Assured Wealth Plan. Furthermore, there is no charge for changing the mode of payment frequency,

No, there are no riders available under the plan.

Yes, you can avail of a loan under the plan.

If the premiums due for the first two policy years are not paid within the grace period, the policy will lapse and have no value left.

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