Future Generali Life Insurance
Future Generali Retirement Policy

Future Generali Pension Plans

Future Generali Life Insurance understands the importance of planning for the future. Therefore, it offers pension plans designed to secure your financial needs after retirement. These plans provide you with a steady income stream when you are no longer working.

Whether you are just starting your career or nearing retirement age, you can consider these plans to build a stable financial foundation for your future.

What are the Benefits Offered by Future Generali Pension Plans?

Future Generali Pension Plans offer a range of benefits designed to provide peace of mind and stability during your retirement years. Here’s an in-depth look at the advantages these plans offer:

  • Guaranteed Income After Retirement

One of the most significant benefits of Future Generali Pension Plans is the guaranteed income you receive after retirement. This feature ensures that you have a steady stream of income to cover your living expenses, medical bills, and other essential needs. 

Unlike other savings or investment options that might fluctuate with market conditions, a pension plan from Future Generali provides predictable and reliable payments. This consistency is vital for maintaining your standard of living and avoiding financial stress in your golden years.

  • Financial Security

Pension plans from Future Generali help you build a substantial nest egg over time, providing long-term financial security. As you make regular contributions during your working years, your savings grow. 

This ensures that you have enough funds to support yourself when you are no longer earning a salary. This financial cushion is important for dealing with unexpected expenses and ensuring you can enjoy your retirement without worrying about money.

  • Flexible Options

Future Generali primarily offers two types of wholesome pension plans to cater to different needs and preferences. You can choose a plan that aligns with your financial goals and retirement dreams.

This flexibility allows you to tailor your pension plan to suit your specific circumstances, ensuring that you get the most out of your savings. 

  • Lump-Sum Payment

At retirement, Future Generali Pension Plans offer the option to receive a portion of your savings as a lump sum. This feature provides you with immediate access to a significant amount of money.

You can use this money for large expenses or investments, such as paying off a mortgage, starting a business, or taking a dream vacation. The remaining funds continue to provide regular income, ensuring ongoing financial support.

  • Digital Access

Future Generali provides digital access to your pension plan, allowing you to track your investments, contributions, and growth conveniently online. This transparency helps you stay informed about your financial progress and make necessary adjustments to your plan as needed. 

  • Excellent Customer Support

Future Generali is also known for its excellent customer service, providing you with support and guidance throughout your pension planning journey.

Whether you need help choosing the right plan, understanding your benefits, or managing your account, their team is always ready to assist you.

  • Various Annuity Options

When you choose a pension plan with Future Generali, you have several annuity options to pick from. These options determine how you will receive your payments after retirement. Here are the simple explanations of each option:

Option 1: Single Life Annuity with a Return of 100% of Purchase Price (ROP):

How It Works: You receive regular payments as long as you are alive.

What Happens After Death: When you pass away, the payments stop, and the amount you originally paid (the purchase price) is given to your nominee or assignee.

Option 2: Joint Life Last Survivor Annuity with Return of 100% of Purchase Price (ROP):

How It Works: Both you (Primary Annuitant) and another person (Secondary Annuitant) receive regular payments as long as either of you is alive.

What Happens After Death: When both of you pass away, the payments stop, and the purchase price is given to your nominee(s) or legal heirs.

Option 3: Life Annuity:

How It Works: You receive regular payments for as long as you are alive.

What Happens After Death: When you pass away, the payments stop, and no further benefits are paid. The policy ends.

Option 4: Life Annuity with Return of Purchase Price:

How It Works: You receive regular payments for as long as you are alive.

What Happens After Death: When you pass away, the payments stop, and the purchase price is given to your nominee. The policy ends.

Types of Future Generali Pension Plans

The company offers two types of plans as discussed below:

1. Future Generali Saral Pension Plan

The Future Generali Saral Pension Plan is an immediate annuity plan that requires a single premium payment. Once you make this one-time payment, you start receiving a regular income for the rest of your life.

This plan is non-linked, meaning it is not tied to the stock market, and non-participating, which means it does not pay dividends. Instead, it focuses on providing a stable and guaranteed income stream.

Eligibility Criteria:

Minimum Entry Age40 Years
Maximum Entry Age80 Years
Policy TermWhole Life
Premium Payment TermSingle Pay
Minimum Annuity Amount

For Monthly Mode: ₹ 1,000

For Quarterly Mode: ₹ 3,000

For Half-Yearly Mode: ₹ 6,000

For Yearly Mode: ₹ 12,000

Maximum Annuity AmountNo Limit

Key Features & Benefits:

  • Guaranteed Regular Income: One of the most attractive features of the Saral Pension Plan is the guaranteed regular income it provides. From the moment you retire, you will receive a consistent income, ensuring you can maintain your lifestyle and cover your expenses without financial stress.
  • Single Premium Payment: This plan requires only a one-time premium payment. After making this single payment, you start receiving your annuity payments immediately, without any further financial obligations. This feature is particularly beneficial for those who prefer not to worry about making regular premium payments.
  • Immediate Annuity: As an immediate annuity plan, the Saral Pension starts providing you with income right after you make your initial premium payment. There is no waiting period, which means you can start enjoying the benefits of your retirement plan without delay.

2. Future Generali Immediate Annuity Plan

The Future Generali Life Immediate Annuity Plan is a simple and effective way to ensure you have a steady income after you retire. You pay a lump sum amount just once. After you make this one-time payment, you start receiving regular income payments for the rest of your life.

Eligibility Criteria:

Minimum Entry Age40 Years
Maximum Entry Age80 Years
Policy TermTill the Policyholder/Annuitant is Alive
Annuity ModeYearly/Monthly
Minimum Purchase PriceRs. 30,000
Maximum Purchase PriceNo Limit

Key Features & Benefits:

  • Guaranteed Income: You will receive a fixed amount of money regularly, helping you cover your expenses without worrying about your finances.
  • Immediate Payments: The income payments start right away, so there’s no waiting period.
  • Options To Receive Annuity: When you get money from your annuity (like retirement savings), you can choose how to get it. You can have the money put right onto a special card for annuities. Or, you can get post-dated checks, which are checks that are already filled out with the date when you can cash them. These options let you decide how you want to get your money.

How Does a Future Generali Life Insurance Pension Plan Work?

Let’s understand how a Future Generali Life Insurance Pension Plan works through Rajesh’s story.

Rajesh is 60 years old and has decided to secure his retirement with the Future Generali Saral Pension Plan – Option 1: Life Annuity with Return of 100% of the Purchase Price (ROP).

Rajesh’s Decision

Purchase Price: Rajesh opts to invest ₹ 10 Lakh (excluding applicable taxes) as a one-time payment into the pension plan.

Annuity Payment Mode: He chooses to receive his annuity payments yearly.

How Does It Benefit Rajesh?

Annuity Amount: Rajesh will receive ₹ 50,175 every year as his annuity payment, starting from the end of the 1st policy anniversary. This amount provides him with a regular income to support his lifestyle during retirement.

Financial Security: In the unfortunate event of Rajesh’s death, his nominee will receive the entire Purchase Price of ₹ 10 Lakh (excluding taxes). This ensures that his loved ones are financially protected even after he is gone.

This plan gives Rajesh peace of mind, knowing that he has secured his future and his family’s financial well-being. It’s a simple and effective solution for anyone looking to enjoy a worry-free retirement.

How do you apply for Future Generali Pension Plans?

  1. Pay a visit to the official website of “Future Generali Pension Plans”.
  1. Hover your mouse on “All Plans” and then click on “Retirement Plans”.
  1. Click on the plan option and read out every detail.
  1. Please complete the application form provided by Future Generali, providing accurate information about yourself and your preferences.
  1. You may need to submit documents such as identity, address, and income proof along with your application.
  1. Pay the premium amount as required for the pension plan you have chosen. You can choose from the different payment options provided by Future Generali.
  1. Once your application is processed and approved, Future Generali will confirm your pension plan details. You will receive a policy document outlining all the terms and benefits of your chosen plan.
  1. Once everything is set, your pension plan will start according to the terms you agreed upon. You can now relax knowing your future is secured with Future Generali Pension Plans.

Frequently Asked Questions

Here are the frequently asked questions about Future Generali pension plans:

Anyone who wants to plan for their retirement can apply. Different plans cater to various needs and age groups.

It’s best to start early to maximize savings, but you can start at any age. Starting early allows for smaller contributions over a longer period.

Generally, pension plans are designed for retirement income. Depending on the plan, early withdrawals may result in penalties or impact future income.

Depending on the plan, your nominee may receive a lump sum or continued payments. Future Generali plans have options to ensure your family’s financial security.

You can pay premiums monthly, quarterly, semi-annually, or annually, depending on the plan and your convenience.

Yes, you may have options to modify your plan details based on the terms and conditions provided by Future Generali.

For more details, visit the Future Generali website, contact their customer service, or speak with a financial advisor.