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Insurance Company
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Future Generali India Life Insurance Company Ltd
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Plan Name
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Future Saral Anand Plan
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Plan Nature
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TRADITIONAL
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Plan Category
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Protection Plan
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UIN No.
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133N019V01
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About Plan
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Future Saral Anand Plan with 150% coverage till your 80th birthday,300% cover for accidental death, and compounaded guarenteed additionaland bonueses, this plan gives you all you needs in practically no time with minimum paperwork.
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Minimum Entry Age
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3 Years
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Maximum Entry Age
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55 Years
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Minimum Maturity Age
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18 Years
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Maximum Maturity Age
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65 Years
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Policy Term
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80 Years - Current Age of Customer.
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Minimum Sum Assured
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Rs. 75,000
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Maximum Sum Assured
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Rs. 25,00,000
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Benefits
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| Particulars | Description |
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Death Benefits
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During Policy term: in case of your demise, your nominee will get sum assured along with guaranteed additions and vested bonuses and terminal bonus if any.if entry age is 18 years or more on the date of commencement of the policy, then in case of accidental death during the premium payment term, in addition to the above, an accidental death cover equal to twice the sum assured is payable.if age at entry is less than 18 years, the accidental death benefit is not available for the full policy term. In case of death of a minor life assured before risk commencement date, all premiums paid will be refunded.After Premium paying term: In case of death before the age of 80 but after the premium paying term, we will pay an amount equal to 150% of the sum assured and terminal bonus if any to your nominee.
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Survival Benefit
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100% of Sum assured along with guaranteed additions and vested bonus (if any) on survival to the end of the premium paying term.
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Loan against policy
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Loan is available only during the premium paying term. If the policy has acquired surrender value, loan is available under the policy to the extent of 85% of the surrender value.
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Additional Benefits
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Guaranteed Additions: 3.5% per annum of the sum assured for the first five years of an in-force policy. The amount will become payable only at the end of premium paying term or on death whichever is earlier.
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Surrender Benefit
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You can surrender your policy after complition of three policy years from the commencement date. On surrender the higher of the Guaranteed Surrender Value(is 30% of premiums paid under the base policy excluding the premium in the first policy year less the cumulative benefits already paid) and the Special Surrender Value(the company will pay this, which is either equal to or more than the guaranteed surrender value) will be paid.
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Tax Benefits
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| Section | Description |
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SEC 80 C
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Under Section 80 C premiums up to Rs. 100,000 are allowed as deduction from taxable income.
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SEC 10 (10)D
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Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
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Future Saral Anand Plan is a perfect plan for you in respect of insurance purpose. With 150% of the coverage till your 80th birthday, 300% cover for accidental death, and compounded guaranteed additions and bonuses, this plan give you all you need in practically no time with minimum paper work.
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- Financial security with the cover up to your 80th birthday.- Guaranteed Additions @3.5% of Sum Assured per annum compounding at the end of each of the first 5 policy years- Compounded Reversionary bonuses from the 6th policy year- Survival Benefit of 100% of Sum assured plus guaranteed additions plus vested bonus (if any) payable to you at the end of premium paying term- Sum Assured with accrued guaranteed additions plus vested bonus (if any) plus terminal bonus (if any) will be paid to your nominee on your demise during the premium paying term- 150% of the Sum Assured and terminal bonus (if any) will be paid to your nominee on your demise after the premium paying term- Inbuilt additional accidental death benefit during the premium paying term equivalent to two times the sum assured- Discount on large Sum Assured.- Auto Cover available for two year from the first unpaid premium, provided the policy has been in-force for 3 years- Tax benefits u/s 80C for the premiums paid and u/s 10(10D) on the benefits received.
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We will pay 100% of Sum Assured along with Guaranteed Additions and Vested Bonus (if any) on survival to the end of the premium paying term
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Death Benefits during Premium Paying Term -In case of your demise, we will pay an amount equal to the sum assured along with guaranteed additions and vested bonuses and terminal bonus (if any) to your nominee.If your age at entry is 18 years (as on last birthday) or more on the date of commencement of the policy, then in case of accidental death during the premium payment term, in addition to the above, an accidental death cover equal to twice the sum assured is payable.If age at entry is less than 18 years, the accidental death benefit is not available for the full policy term.Death Benefits after Premium Paying Term -In case of death before the age of 80 but after the premium paying term, we will pay an amount equal to 150% of the sum assured and terminal bonus (if any) to your nominee.Death of a minor life assured - In case of the death of a minor life assured before risk commencement date, all premiums paid will be refunded.
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The compounding guaranteed additions under the policy are 3.5% per annum of the sum assured for the first five years of an in-force policy. This amount will become payable only at the end of premium paying term or on death, whichever is earlier.
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From sixth year onwards, the policy shall participate in the profits arising out of the CompanyÆs æwith profitsÆ life insurance business. It gets a share of the profits emerging from this business in the form of bonuses. Compounded reversionary bonuses would be declared as a percentage rate, which apply to the sum assured and guaranteed additions in respect of the basic policy benefit and all attached bonuses. Compound Reversionary bonus will be declared based on our long term view of investment returns, expenses, mortality and other experiences. Once declared, the reversionary bonuses form part of the guaranteed benefits to the plan. Future bonuses are, however, not guaranteed and will depend on future profits of the company. The company may also declare a Terminal Bonus, depending on experience, that will be paid along with Death Benefit.
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16-Jul-09
10:23
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Future Generali launched Silver, Gold and Platinum plan for motor vehicles
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23-Jun-09
11:01
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Future Generali plans to launch women- related insurance products
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20-Jun-09
14:10
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Selling covers through Future Group's malls : Future Generali Life
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19-Jun-09
11:21
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Future Generali plans to launch 10-12 new products
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17-Jun-09
19:31
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Future Generali Life launched Future Anand
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28-Apr-09
13:40
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General Motors ties up with Future Generali
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23-Apr-09
20:14
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Future Generali launches 'Child benefit plan'
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18-Apr-09
11:31
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Future Generali will launch domestic and student travel insurance
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17-Mar-09
15:30
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Price list of spare parts of 'Nano' concerns : Future Generali
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04-Feb-09
12:41
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Future Generali tied with Manappuram General Finance for Gold Loan Customers
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29-Jan-09
16:51
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Insurers to inform consumer on bouncing of cheque
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14-Jan-09
12:35
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Future Group looking at premium of Rs 1,000 cr
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30-Dec-08
11:20
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Future Generali plans thrust on total insurance solutions
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29-Dec-08
13:10
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300 crore infusion is planned: Future Generali
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12-Dec-08
12:00
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Future Generali to invest Rs 370 cr this fiscal
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08-Oct-08
08:35
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Future Generali unveils 2 pension products
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