Future Generali Nivesh Preferred

Recommendations :No

Name of the policy :
Future Generali Nivesh Preferred

A brief desciption :

Future Generali Nivesh Preferred is a regular Single Premium ULIP plan providing higher of Sum assured or fund value as death benefit and Fund Value as Maturity Benefit. It has two variants, if one wants to have maximised investment one can go for Option 1 which has a fixed sum assured and if one wants to have maximised protection one can go for Option 2 giving protection throughout the term. However returns are restricted due to high charges levied. Moreover Sum assured is miniscule which is not sufficient to cover an earning member of the family having dependents. So it is advisable to to go for a simple term plan and invest the extra money elsewhere and earn higher returns.

Started date :
16/12/2010

Type of policy :
Insurance cum Investment

Category :
ULIP

Insurance :
Option 1: Year 1- 5 times Single Premium, Year 2 onwards- 1.25 times Single Premium. Option 2: For Age 7-49 Years: Min- 1.25 times Single Premium Max- 5 times Single Premium, For Age 50-54 Years: Min- 1.25 times Single Premium Max- 3 times Single Premium,

Returns expected :
8%-10% (The performance would be less than a performing equity diversified mutual fund)

Entry age :
7-68 Years

Surrender :
If the policy holder wants to surrender the policy before completing 5 years, then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary. If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and your fund value shall be paid immediately and the policy would be terminated.

Minimum amount :
Min- 40,000 Max- 4 lakh

Mortality Charges :
Mortality Charge will be deducted at each monthly anniversary by cancellation of units. Sample mortality charges per annum per thousand of sum at risk for a healthy male life is shown below: For Age 25- Rs 1.53 , For Age 35- Rs1.88 , For Age 45- Rs 4.36

surrender changes :
Nil

Unique features :
It has 2 variants giving the choice to maximise investment or maximise protection. Moreover it also does not levy any surrender charge.


Fund Management Charge :Future Secure Fund- 1.10%, Future Income Fund- 1.35%, Future Balance Fund- 1.35%, Future Apex Fund- 1.35%, Future Opportunity Fund- 1.35%, Future Maximize Fund- 1.35%

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