Future Generali Bima Advantage

Name of Policy

Future Generali  Bima Advantage

Type of Policy

ULIP Endowment

Various Investment Options

Future Secure: - To provide stable returns by investing in relatively low risk assets. The fund will invest exclusively in Treasury Bills, Bank Deposits, Certificate of Deposits, other Money Market Instrument and short duration Government Securities.

Future Income: - To provide stable returns by investing in assets of relatively low to moderate level of risk. The interest credited will be a major component of the fund’s return. The fund will invest primarily in Fixed Income Securities, such as Government Securities of medium to long duration, Corporate Bonds and Money Market Instruments for liquidity.

Future Balance: - To provide a balanced return from investing in both Fixed Income Securities as well as in equities so as to balance stability of return through the former and growth in capital value through the latter. The fund will also invest in Money Market Instruments to provide liquidity.

Future Maximize: - To provide potentially high returns to unit holders by investing primarily in equities to target growth in capital value of assets. The fund will also invest to a certain extent in Government Securities, Corporate Bonds and Money Market Instruments.

Future Apex: - To provide potentially high returns to unit holders by investing primarily in equities to target growth in capital value of assets. The fund will also invest to a certain extent in Government Securities, Corporate Bonds and Money Market instruments.

Future Opportunity: - To generate capital appreciation and provide long term growth opportunities by investing in a portfolio predominantly of Equity & Equity related instruments generally in S & P CNX Nifty stocks and to generate consistent returns by investing in Debt & Money Market Instruments.





Entry age

Minimum: 7 ; Maximum: 65 years

Maturity Age

Min: 18 years ; Max:75 years

Policy Term(Fixed)

10 to 30 years                            

Premium Payment Term

Min: Single

Max: Equal to Policy Term

Premium Payment Mode



·         For policy term 10-14 years: Rs 20,000/-

·         For policy term 15 years and above: Rs 15,000/-

Basic Sum Assured

·         For age less than 45 years – Half the policy term or 10, whichever is higher times annualized basic premium

·         For age 45 years & above – 0.25 times the policy term or 7, whichever is higher times annualized basic premium

Top-Up Premium

Not Available





Premium Allocation Charge (on regular premiums)

Year 1       

Year 2-5        

Year 6 onwards




Policy Administration Charge

2% p.a. of Basic Premium for the first five policy years and from the 6th year onwards inflating at 5% per annum annually. The policy administration charge will not exceed Rs 6000 per year..

Fund Management Charge (FMC)

Name of Fund

Fund Management Charge per annum as a % of Fund Value

Future Secure Fund  


Future Income Fund  


Future Balance Fund  


Future Apex Fund  


Future Opportunity Fund 


Future Maximize Fund 


Switching Charge

12 free switches are allowed in each policy year. Subsequent switches will attract a charge of Rs.100 per switch.

Enhanced Insurance Cover Premium

Premium will be based on the age at entry and term of the base plan. The sample rates per 1000 sum assured are as given:


Age Term (in years)
























Service tax will be added as per the prevailing tax rules

Miscellaneous Charge

This charge is levied for any alterations within the insurance contract, such as, premium re-direction. This is a flat charge of Rs.250 per transaction.

Life Cover



Let us assume a simple case:

  •      Your age: 30 years
  •      Sum assured: -Higher of 10 times of Regular AP or (0.5 x Policy Term x AP)
    •      20000*10= Rs 2,00,000
    •      0.5*15*20000= Rs. 1,50,000
    •      Therefore S.A= Rs. 2 Lakh
  •      Policy term: 15 years
  •      Premium: Rs. 20,000 p.a.

The life insurance component is miniscule, not exceeding 10 times your annual premium. If you really want life insurance, a good term plan will give you life insurance of about 500 times your annual premium – so you would rather avoid the fund.

Let’s see what you get:

  •        life cover plus Investment
  •       Of your first year premium of Rs. 20,000 p.a. -  12%+ Mortality charge is removed. Most of this goes to your agent’s pocket. Only the remaining gets invested in the fund.
  •      Of your second year premium of Rs. 20,000 p.a -. 8%+ Mortality charge gets removed again. Most of this again goes to your agent, and only the remaining gets invested.
  •       In addition to this, of your total fund, the fund management charge of ~1.35% is cut every year
  •      Instead, if this Rs. 20,000 p.a. had gone into a Systematic Investment Plan in a Mutual Fund, giving a return of approximately 15% a year on a five year average, not a single Rupee would have been deducted as policy charges. It would not take a mathematician to deduce that the returns here will be much better.


In summary, investments can deliver returns only if the costs are not so high.

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