How this plan works:
1. Ankit is a 35-year-old healthy non-smoker male. He buys the Future Generali Care Plus – Option 1 Life Cover
Policy Term – 25 years
Premium Payment Term – 25 years
Annual Premium (excluding applicable taxes)- Rs. 12,277
Sum Assured – Rs. 1 Crore
Payout Option – Lumpsum
In case of an unfortunate event of Ankit’s death during 2nd Policy year, a lumpsum of 1 Crore is paid to Ankit’s nominee.
Death Benefit shall be highest of:
10 times Annualized Premium (excluding the applicable taxes, rider premiums and underwriting extra premiums, if any) of Rs. 1,22,770
105% of total premiums paid (excluding any extra premium, any rider premium and applicable taxes) as on the date of death of Rs. 25,782
Sum Assured of Rs. 1 Crore
The policy will terminate on payment of Death Benefit
2. Ankit is a 35-year-old healthy non-smoker male. He buys the Future Generali Care Plus – Option 2 Extra Life Cover (Life Cover with Accidental Death Benefit)
Policy Term – 25 years
Premium Payment Term – 25 years
Annual Premium (excluding applicable taxes)- Rs. 16,747
Sum Assured – Rs. 1 Crore
Accidental Death Sum assured- Rs. 1 Crore
Payout Option – Lumpsum
In case of an unfortunate event of Ankit’s death during 2nd Policy year, a lumpsum of 2 Crore is paid to Ankit’s nominee i.e., Death benefit of Rs. 1 Crore plus Accidental Death Sum Assured of Rs. 1 Crore
Death Benefit shall be highest of:
10 times Annualized Premium (excluding the applicable taxes, rider premiums and underwriting extra premiums, if any) of Rs. 1,67,470
105% of total premiums paid (excluding any extra premium, any rider premium and applicable taxes) as on the date of death of Rs. 35,169
Sum Assured of Rs. 1 Crore
Note: In the above example, in case of death other than due to accident under Option 2: Extra Life Cover (Life Cover with Accidental Death Benefit) only Death Benefit of Rs 1 Crore shall be payable and no Accidental Death Sum Assured shall be payable.
Disclaimers
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
Two Protection Options
Maturity Benefit
There are no maturity benefits under this plan.
Death Benefit
Flexibility To Receive Benefits
In each of the policy options, the policyholder can choose to receive the Death Benefit as per the following payout options.
Tax Benefits
Tax benefits will be according to the provisions of Income Tax Laws. These benefits are subject to change as per the prevailing tax laws.
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