September moth has witnessed flurry of new ULIP plans which are based under a new guidelines issued by IRDA. Insurers introduced over 50 unit linked plans in last month. Future Generali was not going to be the exception. Future Generali has launched two ULIP plans NAV Insure and Select Insurance Plan.
1) NAV Insure Plan: Key Features
1) NAV Insure is an investment cum insurance plan to provide financial security to you and your family as well as offers upside of market related returns with safety net guard to your investment
.2) Option of single premium or Regular premium (PPT 5 or 7 years). 4.25% allocation charge and 4% policy admin charge for Rs 25000 regular premium in the first year.
3) Highest NAV guarantee in first seven years payable on maturity.
4) Flexi plan to decide your premium amount, premium paying term, frequency of premium payment and extent of life cover to match your needs.
Other Benefits:
1) Maturity Benefits: On maturity of the Policy the Fund Value of NAV Guarantee Fund as on the date of maturity is payable to the life assured.
2) Loyalty Additions: available under single premium only. 3% of the fund value calculated at prevailing NAV will be added as loyalty additions to policy at end of 6th year. Hence it will be added to fund value and payable on death, surrender or maturity.
3) Death Benefit: In unfortunate event SA+ Fund Value payable subject to 105% of the total premium paid till date.
4) Flexible Sum Assured: SA can be increased at any stage subject to maximum multiples and underwriting criteria. SA can be decrease at any stage subject to minimum limits.
5) Partial withdrawals, policy loan and top-up are not allowed under this policy.
2) Select Insurance Plan: Key Features
1) Specially designed Unit Linked Insurance plan to achieve your medium to long term financial security and goals through regular savings.
2) 3% Premium Allocation Charge & 4% Policy Administration Charge in the first year.
3) Advantage of five robust funds to match your risk.
4) Flexi plan to decide premium amount, policy term, mode of premium, extent of life cover along with options like switching, partial withdrawal and additional benefit riders.
Other Benefits:
1) Maturity Benefits: On maturity of the Policy the Fund Value is payable. Maturity proceeds with settlement option available.
2) Death Benefit: in case of death higher of SA+ Fund Value+ 105% of total premium (less partial withdrawals) is payable.
3) Switches: Six free switches allowed each policy year. If it exceeds six then charge of Rs 100 per switch.
4) Riders: Accidental Death Benefit, Total and permanent disability, Life Guardian riders are available on the policy.
The Future Generali NAV Insure Plan ensures that your investments always stand on your side to benefit, no matter how the markets are and Select Insurance Plan gives you freedom and helps you build wealth over time for you and your loved ones apart from offering precious life cover to provide financial security to your family.
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