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Downloads:
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Products
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Future
Guarantee Advantage
Product
Reckoner
Future Guarantee Advantage
- An ideal ‘All-in-One’ Investment & Insurance package with Guaranteed Additions
upto 165% of 1st year annual premium
Sr. No.
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Eligibility Criteria
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Simplified
Underwriting
|
1
|
Minimum Entry Age
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30 days
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2
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Maximum Entry Age
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50 years
|
3
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Half Yearly Contribution
required
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Rs
7990/-
|
4
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Term
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20
years. No surrender charge after 1st 5 policy years
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5
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Maximum Maturity Age
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70
years (as on last birthday)
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6
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Maximum Sum Assured
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Age (Yrs)
|
Multiple of SA for
(Range)
Std Age
proof
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Multiple of SA for
(Range)
Non Std Age proof
|
0
- 40
|
5
– 25 times
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5 – 15 times
|
41
- 45
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5
– 15 times
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5
– 12 times
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46
- 50
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5
– 10 times
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5
– 10 times
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7
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Premium
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Half
Yearly Mode, In multiples of Rs. 7,990/-*
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*Multiple
policies upto maximum premium limits allowed, please refer to the Sum Assured
table in the next page for your reference
Minimum
Sum Assured is 5 times of the Annual premium
Benefits from the plan:
Sr. No.
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Parameter
|
Description
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1
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Guarantee
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Guaranteed Loyalty Addition of 1st year premium at
Maturity
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Maturity in Years
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10
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15
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20
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Guaranteed Loyalty Additions at Maturity as % of 1st Year Annual Premium (20 Year Term)
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60%
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110%
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165%
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2
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Death Benefit
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- Natural Death: Sum Assured + Fund
Value (less Deductible Partial Withdrawals made during last 2 years prior to the date of death) +
Guaranteed Loyalty Addition (if death occurs after 8 policy years
- Accidental Death: 3 times Sum
Assured + Fund Value (less Deductible Partial Withdrawals made during last
2 years prior to the date of death) + Guaranteed Loyalty Addition (if death
occurs after 8 policy years)
In case of death after 8 yrs from the date of commencement and
provided premiums have been paid for
at least 5 full years, then “Guaranteed Loyalty Addition at Maturity” will
also be payable
No accidental benefit is payable if the life assured is
a minor at the time of death under the policy
|
3
|
Maturity Benefit
|
Fund Value as on the date of Maturity plus the Guaranteed
Loyalty Additions at maturity
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4
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Surrender
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No surrender charges after 5 policy years
premiums have been paid
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5
|
Partial Withdrawal
|
·
Partial withdrawal can be made after the policy has completed at
least 7 full policy years
·
1 partial withdrawal is allowed per policy year free of charge
·
Minimum
Partial Withdrawal amount is Rs.5,000 (& in multiples of thousands
thereafter)
Max
Partial withdrawal amount not to exceed 10% of Fund value.
|
6
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Revival
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·
Policy may be revived for full benefits within 2 years from the
date of 1st unpaid premium
and before the date of maturity while the life assured is still alive
·
Reinstatement will be effected on the company’s discretion and
subject to such conditions as the company in its discretion may decide
·
Lapsed policy shall continue to participate in investment
returns for the existing fund value. However, on revival, the investment
return will be applicable on pro-rata basis for the month in which premiums
are received
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7
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Loan
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No Loan against the policy
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8
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Tax Benefit
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U/s 80 C and U/s 10 (10D)
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Charges for the plan:
Sr. No.
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Type of
Charge
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Description
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1
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Premium
Allocation Charge
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Year
|
Allocation
Charges
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Year 1
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22 % is allocated to the fund
78 % of 1st year premium contributes towards Guaranteed
Additions at maturity).
|
Year 2 & 3
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8 %
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Year 4 to 10
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2%
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Year 11 onwards
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Nil
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2
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Fund
Management Charge
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1.25% pa
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FMC is deducted on a daily basis at 1/365th of the annual charge in determining unit price
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3
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Policy
Admin Charge
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1st year
Rs.480 per annum, 2nd year Rs. 720 per annum
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4
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Non
Standard Age Proof Charge
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Age Group
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Extra Mortality Charges (charged to the Fund)
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18-40 Years
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Re.1 Per
thousand of Sum Assured
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41-50 Years
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Rs.2 Per
thousand of Sum Assured
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|
5
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Miscellaneous
Charge
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Rs.250 per alteration will be charged
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6
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Surrender
charge
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Nil after 5 policy completion years
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7
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Service
Tax Charge
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All above charges will be subject to a service tax @ 12.36% or
the rate prescribed by Tax Authorities from time to time
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Underwriting
Criteria:
For Simplified
Underwriting
|
*Major Students (18-25 yrs): Insurance
cover up to Rs. 5 lakhs can be granted without insisting on parents’
insurance
*Self-employed
female life (unable to provide income proof) / Housewife: Insurance
cover up to Rs. 5 lakhs can be granted without insisting on husbands’ insurance.
Army / Navy / Air force / Police / Mining & other
hazardous occupations are not eligible under this policy.
Farmers: Insurance
cover upto Rs 2 Lakhs
Thumb Impression – Insurance cover upto Rs 1.5lakhs
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Risk Commencement
Date
|
The Date of Commencement of Risk would be the date of
issue of first premium receipt
If life assured is a minor under age at issue below 10
years, risk under the policy will commence from the later of
·
The policy anniversary falling after life
assured attains 10 years of age, or
·
2 policy years after commencement of the
policy
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Model Sum
Assured Table
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Age
|
Half Yearly Premium
|
Annual Premium
|
Min Sum Assured
|
Recommended Sum Assured
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Max Sum Assured
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Std Age Proof
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Non-Std Age Proof
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0-40
|
7,990
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15,980
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79,900
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2,39,700
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3,75,000
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2,39,700
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41-45
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7,990
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15,980
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79,900
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1,91,760
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2,39,700
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1,91,760
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46-50
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7,990
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15,980
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79,900
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1,59,800
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1,59,800
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1,59,800
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|
|
|
|
|
|
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0-40
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16,000
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32,000
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1,60,000
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2,75,000
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4,80,000
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4,80,000
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41-45
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16,000
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32,000
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1,60,000
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2,25,000
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4,80,000
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3,80,000
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46-50
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16,000
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32,000
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1,60,000
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2,00,000
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3,20,000
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3,20,000
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|
|
|
|
|
|
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0-40
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24,000
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48,000
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2,40,000
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3,00,000
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5,00,000
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5,00,000
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41-45
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24,000
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48,000
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2,40,000
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2,50,000
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5,00,000
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5,00,000
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46-50
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24,000
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48,000
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2,40,000
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2,50,000
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4,80,000
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4,80,000
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|
|
|
|
|
|
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0-40
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32,000
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64,000
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3,20,000
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3,25,000
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5,00,000
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5,00,000
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41-45
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32,000
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64,000
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3,20,000
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3,25,000
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5,00,000
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5,00,000
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46-50
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32,000
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64,000
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3,20,000
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3,25,000
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5,00,000
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5,00,000
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|
|
|
|
|
|
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0-40
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40,000
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80,000
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4,00,000
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4,00,000
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5,00,000
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5,00,000
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41-45
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40,000
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80,000
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4,00,000
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4,00,000
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5,00,000
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5,00,000
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46-50
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40,000
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80,000
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4,00,000
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4,00,000
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5,00,000
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5,00,000
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|
|
|
|
|
|
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0-40
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48,000
|
96,000
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4,80,000
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5,00,000
|
5,00,000
|
5,00,000
|
41-45
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48,000
|
96,000
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4,80,000
|
5,00,000
|
5,00,000
|
5,00,000
|
46-50
|
48,000
|
96,000
|
4,80,000
|
5,00,000
|
5,00,000
|
5,00,000
|
Documents Required:
PHOTO IDENTITY PROOF
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Photo
ID Cards issued by public sector undertaking / public financial institutions /
public sector banks
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Photo
Credit Card (not expired) of primary holder
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MAPIN
Card (issued by NSDL)
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Photo
ID provided by public sector banks
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Passport
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Driving
License
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Voter
Identity Card / Island Card issued by
Republic
of
India
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Pan
Card
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Letter
from a recognized Public Authority or Public Servant under the Official stamp
& seal. (Under this category, letter issued by Sarpanch / Gram Panchayat
/
Thana
in-charge
/ Village President / Village Headman / Member of Gram Panchayat / Block
Development Officer etc)
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Domicile
Certificate with photograph issued by Municipal Corporation / Local Self
Government / Local Government Authority
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Arms
License issued by State & Central government
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Pension
Payment Order / Book / Card issued by State / Central Government of India
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Freedom
Fighter’s pass with photograph issued by Ministry of Home Affairs, Govt. of
India
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Identity
Card with photograph issued by Government of Jammu & Kashmir
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Photo
Social Security Card (Smart Card) issued by Central / State Govt. or
Union
Territories
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Defense
Dependant’s Card issued by Ministry of Defence
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Ex-Serviceman
Card
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Bar
Council / Indian Medical Association / Senior Citizen Card
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PIO
(Person of Indian Origin) Booklet for returning NRIs
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Printed
Ration card with Photograph and name of the Proposer is present
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Current
Employer’s Certificate / ID Card issued by current employer. (Please note
that Service Record / Salary Slip will not be accepted)
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Last
Educational Certificate issued by Recognized Board / University / Institute.
(The Educational qualification must be tallied with the Proposal Form; And
Admit Card / Mark Sheet should not be accepted.)
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Personal
Identification and certification by an Employee of Insurance Company
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Island
Card issued by
Republic
of
India
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ADDRESS PROOF
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Document type
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Credit
card statement where customer is a primary holder
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Letter
/ Monthly outgoing bills (Only from registered cooperative group housing
societies)
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Photo
debit / credit card (not expired) of primary holder having address
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Address
attested by Notary in non-judicial stamp paper of Rs.100/-
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Photo
ID proof issued by Bar council having address proof
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IRIS
scanned household card with photograph (Issued by AP Govt.)
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Passport
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Driving
License
|
Voter
Identity Card / Island Card issued by
Republic
of
India
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Letter
from a recognized Public Authority or Public Servant under the Official stamp
& seal
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LPG
(gas) Connection Book / Card / Pipe gas Bill / Gas Connection Letter (not
older than 3 months)
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Telephone
Bill pertaining to any kind of connection like
Mobile
, landline, wireless etc. not older
than 6 months
|
Electricity
Bill not older than 6 months
|
Written
Confirmation from the Bank of the prospect or Bank Account Statement with 6
months transaction
|
Current
Employer’s Certificate / ID Card issued by current employer mentioning
Residence Address (Please note that Service Record / Salary Slip will not be
accepted)
|
PIO
(Person Of Indian Origin) Booklet for returning NRIs
|
Post
Office
Savings
Pass
Book
|
Valid
lease agreement along with rent receipt, not older than 3 months
|
Residential
Certificate issued by Municipal Corporation
|
House
/ Property Tax assessment / Paid Receipt / Challan
|
Sale
Deed / Conveyance Deed / Gift Deed (the original deeds should be registered
& stamped)
|
Registration
Certificate of Vehicles
|
Property
Allotment Letter by the Builder
|
PAN
confirmation letter issued by the Income Tax Department along with the copy
of PAN Card
|
Island
Card (issued by
Republic
of
India
)
|
Ration
Card in the name of parents / spouse provided it establishes the relation of
parents / spouse with the Proposer from the details provided in the Proposal
Form
|
Letter
from a recognized Public Authority or Public Servant under the Official stamp
& seal (Under this category, letter issued by
Sarpanch / Gram Panchayat /
Thana
In-charge
/ Village President / Village Headman / Member of Gram Panchayat / Block
Development Officer etc.)
|
Any
acceptable residence proof in the name of the Parent in Law or parents of a
married women / widow (Proposer) provided the relationship is established
from the details given in the Proposal form or the proposer gives a
declaration that she stays with her Parent-in- Law
|
If
the insured does not have his or her own address proof then he or she can
give the address proof of his or her Father, Mother, Spouse and Children as
per the format
|
Arms
License
|
Pension
Payment Order / Book / Card issued by State / Central Government of India
|
Freedom
Fighter’s pass with photograph issued by Ministry of Home Affairs, Government
of India
|
Identity
Card with photograph issued by Government of Jammu & Kashmir
|
Photo
Social Security Card (Smart Card) issued by Central / State Govt. or
Union
Territories
|
Defence
Dependant’s Card issued by Ministry of Defence
|
Ex-Serviceman
Card
|
PIO
(Person of Indian Origin) Booklet for returning NRIs
|
Printed
Ration card with Photograph and name of the Proposer is present
|
Current
Employer’s Certificate / ID Card issued by current employer. (** Note - Service
Record / Salary Slip will not be accepted)
|
Island
Card issued by
Republic
of
India
|
AGE PROOF
|
Standard
Age proof
|
a)
Birth Certificate issued by the
Municipal authorities
b)
School / College Certificate,
Board / University admit card / marks sheet, Transfer certificate issued by
the school / college in a authorized format duly signed and sealed; It is
mandatory that School / College certificates bear name and address of School /
College and registration / admission number and date of registration /
admission along with name and father’s name of the life to be assured
c)
Passport
d)
Service Extract in case of
Central Govt. / State Govt. / Municipal / PSU / Reputed organizations and
companies
e)
Baptism Certificate / Marriage
Certificate in case of Roman Catholics
f)
Domicile Certificate
g)
Gram Panchayat Certificate
:should be an extract from the register of Gram Panchayat with the serial
number of the record on the register appearing thereon
h)
Valid Driving License
i)
PAN Card
j)
Provident Fund Statement issued
by the Employer in case of PSU employees
k)
Pension Order of self
l)
Employee Identity Card (bearing
DOB) issued by Central Govt. / State
Govt. / Municipal authorities / PSU / Reputed private Company for their
employees
m)
In case of Zero Age – hospital records provided
names of parents with gender of the child are mentioned
n) LIC Policy Document is a valid standard age proof subject to the
condition that the age has been admitted by LIC based on certain age proof
codes such as:
Ø
P: Passport
Ø
S: School Certificate
Ø
C: College Certificate
Ø
M: Municipal Birth Certificate
Ø
B: Baptism Certificate
Ø
I: Defence ID Card
Ø
J: Domicile Certificate
LIC Policy Documents received with the
above abbreviations only will be accepted as standard age proof
|
Non- Standard Age proof
|
a)
Voter’s
Identity Card / Election Commission Card
b)
Ration
Card with date of issue mentioned on the ration card
c)
ESIS Cards
d)
Pension
Order of spouse
e)
Declaration of Date of Birth
given under the certification of Sarpanch / Gram Panchayat Authorities
f) LIC policies taken under Plan 91 or accepted with an extra premium
would be considered as non-standard age proof
|
A std. age-proof is a MUST in case of minor life proposed.
In case a non standard age
proof is submitted Sum Assured
Multiplier will be reduced and an additional premium by way of age extra is charged. All non standard age proofs should
be accompanied with the consent for payment of NSAP
extra.
*Payment options – Demand Draft only
**Demand Draft in favour of “Future Generali India Life Insurance
Co. Ltd.” / “FGI Life Insurance Co. Ltd.” (Payable at Chennai)
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