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Future Generali India Life Insurance Company, the Insurance joint venture between Future Group of India and Generali Group of Italy, has launched Future Generali Bima Advantage, a unit-linked endowment plan.
The policy holder can opt for Enhanced Insurance Cover to enhance the life cover under the policy, at inception and in the event of demise of the life assured, the Enhanced Insurance Cover sum assured is paid in addition to basic plan sum assured, to the nominee, said the company.
On maturity of the policy, fund value as on date will be paid to the life assured. The policy holder can choose to receive the maturity benefit under settlement option through periodical payments after the maturity date for up to 5 years.
On death of the life assured during the settlement period, the fund value will become payable. Future Generali Bima Advantage has term options of 10 to 30 years and is available for customers in the age group of 7 to 65 years.
The basic premiums, net of applicable charges, are invested in unit funds of the customer’s choice.
This plan provides for a choice of investment funds, thereby, adding flexibility in directing the investments to any or all of the 6 unit linked funds of the company. 12 free fund switches per year means investors also enjoy flexibility to manage their investment actively.
Future Generali Bima Advantage also allows four free partial withdrawals in a policy year, facilitating easy access to invested funds, whenever required.
Minimum basic sum assured for policy holders between 7 to 45 years, is half the policy term or 10 times the annualised basic premium, whichever is higher. For policy holders aged 45 years & above, the minimum sum assured is 0.25 times the policy term or 7 times the annualized basic premium, whichever is higher.
Deepak Sood, MD & CEO, Future Generali India Life Insurance Company said, "Future Generali’s Bima Advantage is a well designed, uncomplicated ULIP that has been designed to deliver unmatched flexibility to manage investments, allow easy accessibility to funds and ensure complete transparency of charges - all in a customer-friendly package that will help policy holders meet their medium to long term financial goals."
Future Generali is currently active through 191 offices with over 56,000 licensed advisors. Source : Future Generali India Life Insurance
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