Future Generali Life - Big Dreams Plan - Future Income Fund

1. Boost your returns with extra allocation from 1% to 7% on your each instalment premium if the due premium is paid within the Grace Period. This ensures you reach your financial goals faster.
2. Benefit with Zero Allocation and Zero Admin charge and watch your wealth grow faster.
3. Enjoy the benefit of life cover and secure your family s future against the uncertainties of life.
4. Fulfil your life s goals by choosing from 3 available options Wealth Protect, Retire Smart and Dream Protect.
5. Avail Systematic Partial Withdrawal (under Option 1: Wealth Creation and Option 2: Retire Smart only) and receive money in your account monthly to help you meet specific financial requirements.
6. Get the flexibility to change your funds and always be in complete control of your wealth.
7. Enhance your protection by opting for riders that cover Accidental Death and Accidental Total & Permanent Disability.
8. Avail tax benefits under Section 80C and Sec 10(10D) of the Income Tax Act of 1961. These benefits are subject to change as per the prevailing tax laws.
9. Experience ease of purchase as you buy the plan online in just a few clicks - anytime, anywhere.

Min Entry Age (as on last birthday) :
Wealth Creation (0 years), Retire Smart (18 years), Dream Protect (18 years)
Max Entry Age (as on last birthday) :
Wealth Creation (55 years), Retire Smart (55 years), Dream Protect (50 years)

Regular Pay :
Wealth Creation (Equal to Policy Term), Retire Smart (NA), Dream Protect (Equal to Policy Term)
Limited Pay :
Wealth Creation (5 years to 19 years), Retire Smart (10 years to 30 years), Dream Protect (NA)
Single Pay :
Wealth Creation (One Time Premium Payment), Retire Smart (NA), Dream Protect (NA)

Wealth Creation : Single Pay, Yearly, Half Yearly, Quarterly, Monthly
Retire Smart : Yearly, Half Yearly, Quarterly, Monthly
Dream Protect : Yearly, Half-Yearly, Quarterly, Monthly

Regular Pay :
Wealth Creation (10 X Annualised Premium ), Retire Smart (NA), Dream Protect (10 X Annualised Premium)
Limited Pay :
Wealth Creation (10 X Annualised Premium), Retire Smart (10 X Annualised Premium), Dream Protect (NA)
Single Pay :
Wealth Creation (1.25 X Single Premium), Retire Smart (NA), Dream Protect (NA)

In case of your unfortunate demise, the death benefit in this plan secures your family's financial well-being and future. The Death Benefit varies as per the plan option you choose :
Option 1: Wealth Creation and Option 2: Retire Smart
The Death Benefit payable to the nominee shall be the higher of :
a. Sum Assured less deductible partial withdrawals, if any, OR
b. Fund Value under the policy, OR
c. 105% of the total premiums paid till the date of death less deductible partial withdrawals, if any

Option 1 : Wealth Creation and Option 2 : Retire Smart
a. On policy maturity (end of policy term), you will receive your Fund Value.
Option 3: Dream Protect
a. On policy maturity (end of policy term), you will receive your Fund Value.
b. Even in case of the death of the Life Assured, you will receive your Fund Value on policy maturity (end of policy term).

a. Tax benefits under section 80C of the Income Tax Act, 1961, may be available to an individual for the premiums paid subject to the conditions/limits specified therein.
b. Benefits received under a life insurance policy may be exempted under section 10 (10D) of the Income Tax Act, 1961, subject to the conditions specified therein. Where the amount paid to the policyholder is not exempt under the provisions of section 10(10D), the said amount will be subject to tax deduction at source in accordance with provisions of section 194DA of the Act
c. For further details, please consult your tax advisor. Tax benefits are subject to change from time to time.

To enhance your financial protection and to secure yourself/your family against accidental disability or demise, we present to you the Riders, which you can add as an additional protection. There are two rider options available under this plan:
a. The Future Generali Linked Accidental Death Rider (UIN: 133A025V01) and
b. The Future Generali Linked Accidental Total & Permanent Disability Rider (UIN: 133A026V01).
Please refer to the Rider brochure for details. The premium pertaining to health or critical illness riders shall not exceed 100% of the premium under the basic plan. The premiums under all other life insurance riders put together shall not exceed 30% of the premiums under the basic plan. Any benefit arising under each of the above-mentioned riders shall not exceed the sum assured under the basic plan.

You have the right to cancel the Policy within 15 days (30 days if the Policy is purchased through Distance Marketing mode) of receipt of the Policy Document if You disagree with any of the terms and conditions, by giving Us a written request for cancellation of this Policy, stating the reasons for such cancelations. On cancelation of the Policy after such request , You shall receive the Fund Value as on the date of cancellation of the Policy plus non-allocated Premium, if any plus charges levied by cancellation of Units minus (Stamp duty + medical expenses, if any, + proportionate risk premium for the period on cover) minus Extra Allocation added to the Policy.
If the Policy is opted through Insurance Repository (IR), the computation of the said Free Look Period will be as stated below:
i) For existing e-Insurance Account: Computation of the said Free Look Period will commence from the date of delivery of the email confirming the credit of the Insurance Policy by the IR.
ii) For New e-Insurance Account: If an application for e-Insurance Account is accompanied by the proposal for insurance, the date of receipt of the welcome kit from the IR with the credentials to log on to the e-Insurance Account (eIA) or the delivery date of the email confirming the grant of access to the eIA or the delivery date of the email confirming the credit of the Insurance Policy by the IR to the eIA, whichever is later shall be reckoned for the purpose of computation of the Free Look Period.

At any time after the completion of the lock-in period of 5 years from the policy commencement date, the policyholder may instruct us in writing to withdraw fund value partially from the policy. Unlimited free partial withdrawals that can be done in this plan. The minimum fund value after the partial withdrawal shall be at least 105% of the Total Premium Paid, during the premium payment term and one annualized premium after the premium payment term for Regular and Limited pay policies and at least Rs.10,000 for Single pay policies.
a. The amount that can be withdrawn should be minimum Rs.5,000.
b. The amount that can be withdrawn should be in multiple of thousands ( 000).
c. Partial withdrawals, which would result in the termination of a contract, are not allowed.
d. Partial withdrawal will not be allowed if the age of the insured at the time of partial withdrawal is less than 18 years
e. For Option 3: Dream Protect, partial withdrawal will not be allowed after the death of the Life Assured.

Systematic Transfer Option (STO) is a feature which allows auto switching of units from one segregated fund to another segregated fund. You have the option to weekly transfer the Fund Value available under one specific Fund to another fund by making a written request to the Company. Once this feature is used, the Fund Value available under one specific fund will be transferred to another fund on a weekly basis for 48 weeks. The policyholder can submit STO request anytime during the policy term. The policyholder cannot make another STO request until the current STO instruction has been completed or has been cancelled.
The fund from which the units will be transferred is called the
Selected Fund
and the fund to which the units will be deposited is called the
Target Fund
. At any point in time, a STO request is only applicable between any one Selected Fund and any one Target Fund. The remaining 4 funds will not be affected or participate in the STO.

A policy can be surrendered any time during the policy term. The Surrender Value will be the Fund Value less Discontinuance Charge, if any, as mentioned below:
a. Surrender before the completion of 5 policy years
i. If a policy is surrendered before the completion of lock in period of 5 policy years from the policy commencement date, the surrender value equal to the fund value less applicable discontinuance charge will be kept in a Discontinued Policy Fund of the company. No subsequent charges except Fund management charge of 0.50% p.a. for the Discontinued Policy Fund will be deducted. The Discontinued Policy Fund would earn a minimum guaranteed interest as prescribed by IRDAI from time to time. Currently, the minimum guaranteed interest rate is at 4% p.a.
ii. The surrender value so accumulated will be paid immediately after the lock-in period of 5 years.
iii. In case of the death of the life assured during this period, the proceeds of Discontinuance Policy Fund will be payable to the nominee(s)/legal heir(s) as applicable.
b. Surrender after the completion of 5 policy years
i. If the policy is surrendered after the lock-in period, then the Surrender Value is the Fund Value at the prevailing NAV and becomes payable immediately.
c. For Option 3: Dream Protect, surrender of policy shall not be allowed after the death of the Life Assured

Revival Period means the period of three consecutive complete years from the Date of first unpaid premium during
which period the Policyholder is entitled to revive the Policy which was Discontinued due to the non-payment of premium.
a) Revival of a discontinued policy during the lock-in period
In case of premium discontinuance during the lock-in period, the policyholder can revive the policy within a period of three years from the date of first unpaid premium. The revival will be considered on receipt of written application from the policyholder. The policy will be revived in accordance with the board-approved underwriting policy.
At the time of revival:
A. All due and unpaid premiums will be collected in full without charging any interest or fee.
B. Premium Allocation Charges, if any, and Policy Administration Charges, if any, which were not collected at the time of Discontinuance of the Policy, shall be levied. No other charges shall be levied.
C. Discontinuance Charges deducted at the time of Discontinuance of the Policy will be added back to the Segregated Funds.
On revival, the policy will continue with the risk cover, benefits and charges, along with the investments made in the funds as chosen by the policyholder, as per the terms and conditions of the policy. In case of revival, no extra allocation will be made with respect to unpaid due premiums. Any revival shall only cover the loss or insured event which occurs after the Revival Date. The rider may also be revived at the option of the policyholder. Revival shall be as per Chapter-VI of IRDAI (Unit Linked Insurance Products) Regulations, 2019
b) Revival of a discontinued policy after the lock-in period In case of policy discontinuance after the lock-in period, the policyholder can revive the policy within a period of three years from the date of first unpaid premium. The revival will be considered on receipt of written application from the policyholder. Provided that :
a. The policy will be revived in accordance with the board-approved underwriting policy.
b. All due and unpaid premiums will be collected in full without charging any interest or fee.
c. Premium Allocation Charges, if any, which were not collected at the time of Discontinuance of the Policy, shall be levied. No other charges shall be levied.
d. On revival, the policy will continue with the original risk cover, benefits and charges, along with the investments made in the funds as chosen by the policyholder, as per the terms and conditions of the policy.
e. In case of revival, no extra allocation will be made with respect to unpaid due premiums.
f. Any revival shall only cover the loss or insured event which occurs after the Revival Date.
g. The rider may also be revived at the option of the policyholder.
h. Revival shall be as per Chapter-VI of IRDAI (Unit Linked Insurance Products) Regulations, 2019.

a. The mortality charges are determined using 1/12th of the annual mortality charge and are deducted from the unit account at the beginning of each monthly anniversary (including the policy commencement date) of a policy by cancellation of units.
b. The mortality charges are levied on Sum at Risk under the policy.
c. The sum at risk.