Future Generali New Assure Plus Plan

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Future Generali New Assure Plus is an individual, non-linked and participating savings plan which provides you a life cover along with increments to your savings corpus. The plan provides 2 payout options for both death benefit and maturity benefit to match your financial requirements. The plan ensures enough flexibility by offering various combinations of policy terms, premium payment terms, and premium payment modes. 

The plan enhances your savings by way of vested compounded reversionary bonuses at the end of each financial year along with a terminal bonus at the end of the policy term or death of the life assured. Other benefits of this plan include a discount for high sum assured and an optional Accidental Benefit Rider.

Best Features of Future Generali New Assure Plus

Future Generali New Assure Plus comes with the following key features -

  • Death Benefit Payout Options-  The plan provides 2 different payout options for the death benefit namely Lump Sum Death Benefit Payout and Lump Sum Death Benefit with Maturity Payout.
  •  Bonuses- The company provides compound reversionary bonuses equivalent to a certain percentage of the sum assured and the previously declared bonuses at the end of every financial year. A terminal bonus is also added to the savings corpus at the time of plan maturity or life assured’s death.
  • Large Sum Assured Discount- The plan provides a discount of up to 11% for policies which feature a sum assured of more than INR 2 Lakh.
  • Change of Premium Payment Mode- You can change the premium payment mode anytime during the policy term. The change gets effective from the subsequent policy anniversary.
  • Optional Riders- The coverage of the policy can be enhanced with the help of the optional Accidental Benefit Rider which safeguards your life in case of accidental disability and demise. 
  • Policy Loan- If the policy has acquired a surrender value and the life assured is alive, a loan of up to 85% of the surrender value can be availed. The interest rate for the policy loans availed in FY 2019-2020 is 9% p.a compounded half-yearly.

Benefits of Future Generali New Assure Plus

Future Generali New Assure Plus offers the following benefits to its policyholders -

1. Death Benefit

In case of an unfortunate death of the life assured, a death benefit is paid to the nominee as per the death benefit payout option chosen by the life assured - 

           Option 1 - Lump Sum Death Benefit Payout  

Under this option, the higher of the following is paid as the death benefit to the nominee - 

  • 105% of all the total premiums paid till date of death
  • Death sum assured plus vested compound reversionary bonuses and terminal bonus.

           Option 2 - Lump Sum Death Benefit with Maturity Payout 

Under this option, 2 payouts are made as the death benefit namely Lump Sum Death Payout and Maturity Payout to the nominee:

  • Lump Sum Death Payout- The higher of 105% of all the total premiums paid till date of death and the death sum assured is paid. The value of the death sum assured is equivalent to the highest of the following -
  1.   Higher of 10 times annualised premium
  2. Guaranteed maturity sum assured
  3. Absolute amount payable on death
  • Maturity Payout - The second payout is equivalent to the guaranteed maturity sum assured plus reversionary bonus and terminal bonus. This is payable at the time of maturity of the policy as the policy remains in force even after the death of the life assured.

2. Maturity Benefit

In case the life assured survives till the end of policy term, the maturity benefit is payable as per the maturity benefit payout option chosen:

           Option 1 - Under this option, the maturity benefit is equivalent to the guaranteed maturity sum assured plus vested compound reversionary bonuses and terminal bonus. 

           Option 2 - Under this option, in addition to the payout of Option 1, a maturity benefit is also payable in case of the death of the life assured.  

3. Surrender Benefit

In case you choose to surrender the policy anytime after the payment of 2 full years’ premiums, you are eligible to receive a surrender benefit equivalent to the higher of the Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV).

Future Generali New Assure Plus Eligibility

Future Generali New Assure Plus comes with the following eligibility criteria:

Eligibility Criteria For Future Generali New Assure Plus
Minimum Age at Entry3 years
Maximum Age at Entry55 years
Minimum Age at Maturity18 years
Maximum Age at Maturity70 years
Minimum Premium Amount INR 10,000 subject to a minimum sum assured of INR 1 Lakh
Maximum PremiumNo limit, subject to underwriting
Minimum Sum AssuredINR 1 Lakh
Maximum Sum AssuredNo Limit, subject to underwriting
Policy Term 10-30 years
Premium Paying Term (PPT)

PPT

Policy Term


   Benefit Payout                           Benefit Payout

         Option 1                                      Option 2     

5-9 years

10-30 years

PPT+ 5 years to 30 years

10-25 years

PPT to 30 years

PPT+ 5 years to 30 years

26-30 years

PPT to 30 years

Not Applicable

Premium Payment FrequencyYearly, Half-yearly, Quarterly, and Monthly

Future Generali New Assure Plus Review

Future Generali New Assure Plus is a savings cum life insurance plan which protects your family financially in your absence while helping you maintain a substantial corpus. The plan enhances your savings via compound reversionary bonuses and a terminal bonus. One of the unique features of the plan is that you can choose to get a maturity benefit even after the death of the life assured during the policy term.

The plan offers you adequate liquidity by allowing you to avail a loan of up to 85% of the surrender value anytime after the payment of full 2 years’ premiums. Also, in case you fail to pay further premiums after 2 years’ premiums, your policy will acquire a “paid-up” status and you will still be eligible to receive the reduced plan benefits. This plan can be shortlisted by individuals looking for a savings plan with flexible payout options and premium payment terms.

Future Generali New Assure Plus FAQs

  • 1. What is the grace period under the plan?

    The plan offers you a grace period of 30 days for modes other than monthly mode and 15 days for the monthly mode of premium payment to  pay all the due premiums from the date of the first unpaid premium. During this grace period, the life cover continues without any interruption and the benefit payouts are still accrued. 

  • 2. How much discount is available for high sum assured policies?

    The plan provides discount for the high sum assured policies in the following manner:

    Sum Assured

    Premium Paying Term


               5                        6-10                      11-15                     16-20                     21-30

        Discount on premium per INR 1000 sum assured
    INR 2 Lakh- INR 4,99,9996%4%1%0%0%
    INR 5 Lakh and Above11%8%5%3%2%

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